Fall in love with the process, and the outcome takes care of itself.
Technical Analysis Fallacy
- #45,402
- Mar 28, 2014 6:02am Mar 28, 2014 6:02am
- | Joined Feb 2014 | Status: Trader | 1,667 Posts
Hi CookieMonsta I hope you do not mind me trying to help, I can see the place you are at, I was there some time ago, I am not a gambler, I have never even been in a betting shop, these things hold no interest for me, I too tried to remove ALL the risk through MM, but in the end you have to accept this is just not possible, so my practical approach then became to remove as much risk as I could, this takes time, lots of time/experience each scenario we are presented with is different from the last, but knowing how the market works and presents itself...
after a long long look at my trading, I decided to abandon the stop loss entirely now, I think I can finally abandon the stop loss order now.
and to indianguyinny24,
thank you for the advice on the mindset, I now do rescues too, but in a different way.
and to Jacque,
thank you for the recommended book, I found that instrumental to creating my own rescue strategy based on managing butterflies against failed rescues that are dead in the water, by using theta.
and to FTI,
your post on managing the animals and the 7 subordinates and 5 masters is very enlightening, I can use 2 of the subordinates now, thank you very much.
Hope you guys are well.
- #45,403
- Mar 28, 2014 6:58am Mar 28, 2014 6:58am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
{quote} Hi phil13, after a long long look at my trading, I decided to abandon the stop loss entirely now, I think I can finally abandon the stop loss order now.
nice.
for those not notice.
the euro strength is foundational of the euro cable mnipulation.
if you not believe, just take a peek, what the usd/yen is doing.
becareful IF euro knife drops.
i not say will, i say IF.
don't be too gungho catch falling knife if it falls.
is at table edge.
maybe twinligh zone gonna be intersting.
Lots maybe, just be alert.
regards
- #45,404
- Mar 28, 2014 7:12am Mar 28, 2014 7:12am
{quote}
Fall in love with the process, and the outcome takes care of itself.
- #45,405
- Edited 7:33am Mar 28, 2014 7:13am | Edited 7:33am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
Its a dangerous land mines tonight @FTI , oh gosh, you are accurate as an bull eyes. what is it that you tuned your sights to ?!
nothing so special.Just decades watching market behaviour.
just decade dealing with rogue manipulators..
They have very basic tools.
they think they BIG.
until they see their book all bloodied.
Just try see whats real, and leave the BIG deal with their ego.
same as what happening to the plane scene.
Until today i still only know what i knew then.
That bird didn't land where its supposed to.
and no one have a clue where it is or what happened.
but as usual every one likes speculate and make the work of the pros really trying fig it out a hard time.
Lots drama and no one's wiser.
regards
Oh , and you cannot get trading experience from reading a book.
That not means there not tons good books.
but is up to YOU.
learn crawl properly beore learn walk.
learn walk properly before learn fly.
if flying, watch out thoose fat birds in same air space.
The bulls thinks theirs big.
The bears thinks theirs big.
the one sitting on diner with knife and fork, he's big.
- #45,406
- Mar 28, 2014 7:20am Mar 28, 2014 7:20am
{quote}
to be honest, this thread is the best damn thing i read so far.
I have sent you a PM, if thats... alright with you.
Fall in love with the process, and the outcome takes care of itself.
- #45,407
- Mar 28, 2014 7:42am Mar 28, 2014 7:42am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
{quote} understand. to be honest, this thread is the best damn thing i read so far. I have sent you a PM, if thats... alright with you.
noted.will reply if necessary.
regards
- #45,408
- Mar 28, 2014 7:46am Mar 28, 2014 7:46am
- | Joined Jul 2007 | Status: Trader | 2,994 Posts
{quote}
V
- #45,410
- Mar 28, 2014 8:14am Mar 28, 2014 8:14am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
{quote} this is spot on.... V
regards
- #45,411
- Mar 28, 2014 8:15am Mar 28, 2014 8:15am
- | Joined Jul 2007 | Status: Trader | 2,994 Posts
{quote}
rmet an FX trader recently ...he didnt shared his any strategy with me but was funn knowing these guys....
V
- #45,414
- Mar 28, 2014 9:53am Mar 28, 2014 9:53am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
{quote}
weird bunch. FX dealers.
need be a little crazy survive day to day huh?
actually when i was in pro capacity.
was man of little words.
mostly any thing crazy happens i turn to charts see if i can spot the cause.
regards
- #45,415
- Edited 10:12am Mar 28, 2014 9:54am | Edited 10:12am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
So, I was reading the thread, no big secrets.. and downloaded the music file, thinking it might be a voice recording of our dear fti speaking. little did i know, it would be wong fei hong, fight song. ha ha ha ! cracked me up
he surfaced at bus interchange again?
regards
ok need to rest.
the grass is very long.
someone should meow the lawn.
ai ya whole day watching grass grow.
ok, goodnite.
oops
- #45,416
- Mar 28, 2014 10:05am Mar 28, 2014 10:05am
- | Joined Jul 2007 | Status: Trader | 2,994 Posts
{quote}
absolute return trader
....straight fwdguy ...he said this is funny ...i had to waste 2 years to go in ivy league college( hrwd etc etc)...after that people thought i am genious and myself thought i just wasted 2 year of my life...
V
- #45,419
- Edited 2:41pm Mar 28, 2014 2:27pm | Edited 2:41pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #45,420
- Edited 10:02pm Mar 28, 2014 9:03pm | Edited 10:02pm
- | Joined Feb 2014 | Status: Trader | 1,667 Posts
{quote}
Hi, thanks fti,
just to give back to the thread, I have created an additional attack strategy to complement overnight positions that can be implemented on top of fti's attack sequence.
Suppose you have 100troops in battle, and you have conducted a successful campaign, and have taken profits on 90 of the troops, and am interested in leaving 10 of the troops in battle to bring in more foreign capital, suppose you are long on the position, and already in profits there is an option strategy that lets you protect your position by using a protective put, which limits ur downside to lossless, with unlimited potential to the upside, however, if we re-examine the protective put, it is a delta neutral hedge, if we extrapolate further, we can use 20troops worth of long puts on 10troops worth on your spot long, to be long vol, given that your 10 troops have sufficient foreign capital to pay for theta for the 20troops at the money (requirement is that your 10troops must absorb the time you pay for the 20troops long puts at the select K strike that is out of the money or at the money, and then choose a suitable time, maybe a month, in which you wish to carry this butterfly), with some small foreign capital collected from the day. Hence, essentially, if you are in profits, you can extend your profits to be delta neutral by paying for theta using foreign capital, and then leverage not margin, but leverage time to create a 2 direction attack on very little risk. this is best used on pairs like gbpjpy, where they have such huge strong moves.
note: please be aware that you need to have both the option and spot position at the same broker or same account even, so that your margin is always fixed, being delta neutral, if you have 2 different brokers, don't even do this, you may end up getting margin calls and break this strategy, and end up with losses.
just my 2 cents, and to give something back to the thread that taught me trading.