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Trading is as simple as 1-2-3

  • #6,881
  • Aug 22, 2018 9:57am Aug 22, 2018 9:57am
Quoting Dobbsie
{quote} That's for sure! I have to revisit my MM. I'm getting a lot of trades that go +5, I lock +1 in only to get stopped out. Maybe I'll try your MM approach. Not sure my platform can do partial exits...
Go in double and close one at a time. Not ideal but an option. Most platforms will do partial close, though the 'how-to' is usually hidden away in the 'Ah, I never knew it could do that!'' section.
  • #6,882
  • Aug 22, 2018 10:31am Aug 22, 2018 10:31am
Quoting lemercenaire
{quote} ...is usually hidden away in the 'Ah, I never knew it could do that!'' section.
hahaha, i like that!

yes dobbsie, also try to get out with +5 with 90% of your position and let the rest run. close the 10% left at the end of day, s&R or daily open. or like hal with a trailer stop...
trading is like dancing, don't think and just listen to the music!
  • #6,883
  • Aug 22, 2018 10:35am Aug 22, 2018 10:35am
Quoting birdland
{quote} hahaha, i like that! yes dobbsie, also try to get out with +5 with 90% of your position and let the rest run. close the 10% left at the end of day, s&R or daily open. or like hal with a trailer stop...
Another, kind of convoluted, way of doing it if you can't partial close, is to close out completely at +5. Then, re-enter at that level (either immediately or on a retrace) at a reduced lot-size, equiv. to a 90% / 10% split on a single initial entry.
  • #6,884
  • Aug 22, 2018 10:41am Aug 22, 2018 10:41am
Quoting Dobbsie
{quote} That's for sure! I have to revisit my MM. I'm getting a lot of trades that go +5, I lock +1 in only to get stopped out. Maybe I'll try your MM approach. Not sure my platform can do partial exits...
I have never been a big fan of the +1. Too much time and effort for that kind of pay. But still better than a loss. Often when I get to +5 and move my stop to BE I will get stopped. So generally I leave the stop where it is. If I can get a run going that is what I am really after. Price action moves too much both ways to get traction from those tight stops IMO.

I closed out a JY trade today I was in from yesterday that got +52. When I don't watch trades that somehow can miraculously happen. The key to me of any of these methods is figuring out how to steer clear of those losses and the rest will take care of itself along the way.
  • #6,885
  • Aug 22, 2018 10:41am Aug 22, 2018 10:41am
Quoting lemercenaire
{quote} Another, kind of convoluted, way of doing it if you can't partial close, is to close out completely at +5. Then, re-enter at that level (either immediately or on a retrace) at a reduced lot-size, equiv. to a 90% / 10% split on a single initial entry.
Thanks everyone! I figured it out! I can take partial closes! Yay!
If I take 90% off at + 5, do you recommend leaving the 10% at the original SL?
Thank you!
  • #6,886
  • Aug 22, 2018 10:42am Aug 22, 2018 10:42am
Quoting hal7
{quote} I have never been a big fan of the +1. Too much time and effort for that kind of pay. But still better than a loss. Often when I get to +5 and move my stop to BE I will get stopped. So generally I leave the stop where it is. If I can get a run going that is what I am really after. Price action moves too much both ways to get traction from those tight stops IMO. I closed out a JY trade today I was in from yesterday that got +52. When I don't watch trades that somehow can miraculously happen. The key to me of any of these methods is figuring...
Thanks, Hal! I posted my reply before seeing your post.
  • #6,887
  • Aug 22, 2018 10:43am Aug 22, 2018 10:43am
Quoting hal7
{quote} I have never been a big fan of the +1. Too much time and effort for that kind of pay. But still better than a loss. Often when I get to +5 and move my stop to BE I will get stopped. So generally I leave the stop where it is. If I can get a run going that is what I am really after. Price action moves too much both ways to get traction from those tight stops IMO. I closed out a JY trade today I was in from yesterday that got +52. When I don't watch trades that somehow can miraculously happen. The key to me of any of these methods is figuring...
What percentage do you take off the table and what percentage do you keep running? 90/10? 80/20?
  • #6,888
  • Aug 22, 2018 2:29pm Aug 22, 2018 2:29pm
Quoting Dobbsie
{quote} What percentage do you take off the table and what percentage do you keep running? 90/10? 80/20?
I vary it but generally 90%, especially if I leave my original stop. Often when I get to +20 I will move to a 10 trailing stop and if it really takes off to a 20 trailer. And if it really really takes off I think about retiring, but the what would I do.
  • #6,889
  • Aug 22, 2018 3:05pm Aug 22, 2018 3:05pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #6,890
  • Aug 23, 2018 1:17am Aug 23, 2018 1:17am
Quoting hal7
{quote}... And if it really really takes off I think about retiring, but then what would I do.
thats also my problem;-)
trading is like dancing, don't think and just listen to the music!
  • #6,891
  • Aug 23, 2018 3:40am Aug 23, 2018 3:40am
Morning DAX move...

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  • #6,892
  • Aug 23, 2018 3:54am Aug 23, 2018 3:54am
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Short CA +5 locked
  • #6,893
  • Aug 23, 2018 5:22am Aug 23, 2018 5:22am
Quoting hal7
{quote} I vary it but generally 90%, especially if I leave my original stop. Often when I get to +20 I will move to a 10 trailing stop and if it really takes off to a 20 trailer. And if it really really takes off I think about retiring, but the what would I do.
Thanks, Hal! At the beginning of each day, I hope to be retired by the end! Hasn't happened yet...
  • #6,894
  • Aug 23, 2018 5:25am Aug 23, 2018 5:25am
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Long GU +5 locked
  • #6,895
  • Aug 23, 2018 5:26am Aug 23, 2018 5:26am
Quoting Dobbsie
{quote} Thanks, Hal! At the beginning of each day, I hope to be retired by the end! Hasn't happened yet...
Probably will take at least two.
  • #6,896
  • Aug 23, 2018 6:08am Aug 23, 2018 6:08am
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GJ, a good example of what I refer to as a big bar trade. Both long and short. I probably would not have ventured the short as it closed so near the top, and you can see further push up, beyond that.
  • #6,897
  • Aug 24, 2018 1:31pm Aug 24, 2018 1:31pm
Had trouble getting onto the threads all day and still some issues.

It was a Friday anyway and my main bag was from my DAX morning moves elsewhere - but to bring all that action to an end, there was this awesome 1-2-3.

I did have to use a counter trade when price tried to break Long but that was a short-lived head-fake and soon swallowed up by the swan dive...

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  • #6,898
  • Edited 6:35am Aug 27, 2018 2:39am | Edited 6:35am
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Long GJ +5 locked +20, 10 trailer on
  • #6,899
  • Aug 27, 2018 8:21am Aug 27, 2018 8:21am
Just too easy on UC.

I missed it, lol...

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  • #6,900
  • Aug 27, 2018 11:59am Aug 27, 2018 11:59am
Possible set-up coming on GJ.
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