{quote} Very good to read you focus on risk. Let's talk about the time since I am trading well. An intraday DD that happens once in a while is 30% to 40%. That's from a complete Basket loss plus some other losses. This is typically a situation where I will step back from the chart and look if I am fit or not, and/or if I can't make chocolate from the chart. Said that, I am ready to bust my account. It is going to happen. I will just put new funds in it and go on the next day. Reason why that is appropriate, is clear from the picture below. Max floating...
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Thanks for the detailed explanation. I've a couple of doubts. Your table, does it mean that when you get three entries on, your account doubles with 25pips? And also, is it 25pips each entry? Also, the risks, do you risk 16% on the 3rd entry? or is it overall risk on 3 entries combined? Oh, I didn't understand the 0.01 per $16. Does it mean 0.01 lot for every $16 in your account? I appreciate your patience and help. Thanks again.
{quote} Thanks for the detailed explanation. I've a couple of doubts. Your table, does it mean that when you get three entries on, your account doubles with 25pips? And also, is it 25pips each entry? Also, the risks, do you risk 16% on the 3rd entry? or is it overall risk on 3 entries combined? Oh, I didn't understand the 0.01 per $16. Does it mean 0.01 lot for every $16 in your account? I appreciate your patience and help. Thanks again.
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Your table, does it mean that when you get three entries on, your account doubles with 25pips?
Excluding spread and commission, yes. that's with 0.01 per $16
And also, is it 25pips each entry?
25 pips from the third entry. Added some pips for the 1st and 2nd.
Also, the risks, do you risk 16% on the 3rd entry?
16% for the complete basket. again, with 0.01 start per $16 account size.
Does it mean 0.01 lot for every $16 in your account?
For the first position, yes.
{quote} Your table, does it mean that when you get three entries on, your account doubles with 25pips? Excluding spread and commission, yes. that's with 0.01 per $16 And also, is it 25pips each entry? 25 pips from the third entry. Added some pips for the 1st and 2nd. Also, the risks, do you risk 16% on the 3rd entry? 16% for the complete basket. again, with 0.01 start per $16 account size. Does it mean 0.01 lot for every $16 in your account? For the first position, yes.
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I understand the math involved now. One last doubt(hopefully). You said that your risk would be 16% for the complete basket. Is that because, you would've already protected your two entries by the time you enter the third one?
{quote} I understand the math involved now. One last doubt(hopefully). You said that your risk would be 16% for the complete basket. Is that because, you would've already protected your two entries by the time you enter the third one?
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A basket of 3 has its exit at the 2nd entry price.
3rd in loss
2nd BE
1st profit.
Ok price has taken out the 2983 and the average has made the HH 2930.
Next on the target run is the 3013 but the hour is now showing signs of divergence and we are at the daily R!! so we better be careful here and keep an eye on the action
Ok price has taken out the 2983 and the average has made the HH 2930. Next on the target run is the 3013 but the hour is now showing signs of divergence and we are at the daily R!! so we better be careful here and keep an eye on the action
{quote} When you say 'first', do you mean the basic/lowest-risk entry?
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Yes indeed.
I didn't dare to do anything more than that with that overnight volatility.
Watched M5 for a 2nd according to the rules but that didn't show up. It was there on M1 but I didn't take it.
{quote} Yes indeed. I didn't dare to do anything more than that with that overnight volatility. Watched M5 for a 2nd according to the rules but that didn't show up. It was there on M1 but I didn't take it.
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Awesome! Still, with 140+ pips, you must've made your target easily
{quote} Awesome! Still, with 140+ pips, you must've made your target easily
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15% per day is good for me. I can achieve that with 25 pips one position. Remember the XLS table from a recent post?
50% per week is good enough.
I trade on a not too big account which does not give me stress. And big enough to earn an income.
{quote} 15% per day is good for me. I can achieve that with 25 pips one position. Remember the XLS table from a recent post? 50% per week is good enough. I trade on a not too big account which does not give me stress. And big enough to earn an income.
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Yes and I hope I get there too. Btw, why did you get out of your long? Instead, you choose to let it run before you put a trailing stop at 90 pips. May I know what you had in your mind and how's today different from others where you usually get out it when price reaches an EMA swing or SR?
Trading the Cable swings via averages
