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Flying Dutchman

  • #1,061
  • Mar 21, 2022 2:51am Mar 21, 2022 2:51am
Quoting moodybot
{quote} I don’t remember advertising them, just using them as real world example that I had used them but not the others. I think my post 1047 trumps your thread post 648! Still waiting for the link to the magic mush… indicator?
Looks like it is some kind of medals you have won. An ego trip?
Did you really learn anything about risk control?
Practice makes a person perfect
  • #1,062
  • Edited 3:21am Mar 21, 2022 2:57am | Edited 3:21am
Quoting ntk
{quote} would you pls explain bit more. You use tight SL cut or hedging?very selective excecution?
In a sentence, on a public forum, I'm going to explain our magic sauce of money management? Hmmmm -- let me sleep on it...
  • #1,063
  • Mar 21, 2022 4:26am Mar 21, 2022 4:26am
Quoting simnz
{quote} Looks like it is some kind of medals you have won. An ego trip? Did you really learn anything about risk control?
If you had kept up with the conversation you would understood my post.
  • #1,064
  • Mar 21, 2022 4:26am Mar 21, 2022 4:26am
Quoting robots4me
{quote} In a sentence, on a public forum, I'm going to explain our magic sauce of money management? Hmmmm -- let me sleep on it...
You awake yet?
  • #1,065
  • Mar 21, 2022 5:22am Mar 21, 2022 5:22am
Quoting moodybot
{quote} You awake yet?
That depends -- define "awake"...
  • #1,066
  • Mar 21, 2022 5:26am Mar 21, 2022 5:26am
Quoting robots4me
{quote} That depends -- define "awake"...
Answers-able to the wife!!
You’re keeping NTK waiting!!
  • #1,067
  • Mar 21, 2022 5:57am Mar 21, 2022 5:57am
Quoting moodybot
{quote} Answers-able to the wife!! You’re keeping NTK waiting!!
Thanks for pretending to be interested. The only thing I'm prepared to add about MM is that MM is YUUUUGE. The statement I'm about to make is an exaggeration, but I should be forgiven because it's to make a point. Also, I almost exclusively trade EAs -- very little discretionary trading unless I'm truly bored:

"Applying clever MM to a mediocre strategy can yield a profitable trading strategy, whereas even the most amazing strategy with poor MM will fail."

I realize this isn't a news flash to many, but it was to me until I began failing prop evaluations. In my case the way to beat the draw down monster was to think more deeply about MM -- which I had never done before. I think there is no right or wrong way to approach MM, other than you have to think deeply about it. And, @moodybot, as you know, we are surrounded by deep-thinkers here at FF, right? I have yet to read a good thread about MM -- at best the OP resorts to hand-waving, and at worst it turns out to be just more misinformation.

As an aside -- in my old thread I thought MM stood for "Money Maker", which I got from @George. I don't even know what that means, and that embarasses me. Here, MM clearly stands for Money Mangement. In my mind a trading strategy consists of two main elements:
(1) Entries/Exits based on signals, clues, treasure maps, trading sessions, whatever. Maybe you use a "magic mush" indicator, or maybe just your brain. Doesn't matter.
(2) Everything else -- all bookkeeping, how you treat wins, how you deal with losses, whether you even worry about wins and losses. This is where MM occurs. It is not as sexy as (1), but is probably more important.
  • #1,068
  • Mar 21, 2022 8:37am Mar 21, 2022 8:37am
Quoting robots4me
{quote} Thanks for pretending to be interested. The only thing I'm prepared to add about MM is that MM is YUUUUGE. The statement I'm about to make is an exaggeration, but I should be forgiven because it's to make a point. Also, I almost exclusively trade EAs -- very little discretionary trading unless I'm truly bored: "Applying clever MM to a mediocre strategy can yield a profitable trading strategy, whereas even the most amazing strategy with poor MM will fail." I realize this isn't a news flash to many, but it was to me until I began failing prop...
You can download documents on Strat's money management and risk control experience.
Practice makes a person perfect
  • #1,069
  • Edited 9:44am Mar 21, 2022 9:18am | Edited 9:44am
Quoting TimeTells
{quote} Hi ryuryu, Sorry mate I was just nibbling on some dinner (6.15pm here in Brizzie). And you "know" my posts take a while, that's just me lol . Look 9 pips is nothing in the bigger scheme of things, I understand. I do like to pick them up though when the market gives them up freely, or at least be aware of them sitting there waiting. (5-10 pips is an okay trade for me & my style of scalping). Here we go. Magicians & magic Real magicians, market magicians … or just plain old magicians Everyone has seen a magic act. Some...

Look that tradingview done!!! New drawing tools - CIRCLES!!


Attached Image

Now you can have circles on your charts!!!
Observer effect
  • #1,070
  • Mar 21, 2022 2:25pm Mar 21, 2022 2:25pm
Quoting ryuryu
{quote} Look that tradingview done!!! New drawing tools - CIRCLES!! {image} Now you can have circles on your charts!!!
Hope its see through otherwise your your private volume indicator available through trading view via your private group, might become hidden.
Check the settings of the circle, usually it goes right round and shoots itself up the ass, catch my drift.
Wouldn't want anything to be hidden now, would we...
  • #1,071
  • Mar 21, 2022 2:29pm Mar 21, 2022 2:29pm
Quoting robots4me
{quote} Thanks for pretending to be interested. The only thing I'm prepared to add about MM is that MM is YUUUUGE. The statement I'm about to make is an exaggeration, but I should be forgiven because it's to make a point. Also, I almost exclusively trade EAs -- very little discretionary trading unless I'm truly bored: "Applying clever MM to a mediocre strategy can yield a profitable trading strategy, whereas even the most amazing strategy with poor MM will fail." I realize this isn't a news flash to many, but it was to me until I began failing prop...

I was genuinely interested until I saw that it was one of your posts mate.
After that I nodded off however reading it now you are correct.
As for deep thinkers, man there are a few contenders operating at the moment!
  • #1,072
  • Mar 21, 2022 3:34pm Mar 21, 2022 3:34pm
Quoting moodybot
{quote} I was genuinely interested until I saw that it was one of your posts mate. After that I nodded off however reading it now you are correct. As for deep thinkers, man there are a few contenders operating at the moment!

Quoting moodybot
As for deep thinkers, man there are a few contenders operating at the moment!
No kidding -- many on this thread alone. RoodyRoo has been one of my favorites for a long time. Whenever I see one of his posts I run to the closet to grab my deep-thinker helmet -- you know, the one with the black faceshield that blinds your vision and padded ear muffs to block your hearing. I can even stuff cotton up my nose so I can't smell. At that point I'm prepared to contemplate RoodyRoo's deep commentary and trading advice...

And now that I've posted this, I'll have to run to my closet again and grab my General Patton helmet and prepare for incoming missiles from him...
  • #1,073
  • Mar 21, 2022 4:09pm Mar 21, 2022 4:09pm
Quoting robots4me
{quote} {quote} No kidding -- many on this thread alone. RoodyRoo has been one of my favorites for a long time. Whenever I see one of his posts I run to the closet to grab my deep-thinker helmet -- you know, the one with the black faceshield that blinds your vision and padded ear muffs to block your hearing. I can even stuff cotton up my nose so I can't smell. At that point I'm prepared to contemplate RoodyRoo's deep commentary and trading advice... And now that I've posted this, I'll have to run to my closet again and grab my General Patton helmet...

Don’t worry about his missiles mate, all duds.
  • #1,074
  • Mar 21, 2022 4:35pm Mar 21, 2022 4:35pm
And like some other people in the world right now, firing those missiles more to convince themselves and their following that they are right !
  • #1,075
  • Mar 21, 2022 5:08pm Mar 21, 2022 5:08pm
Quoting rogerha
And like some other people in the world right now, firing those missiles more to convince themselves and their following that they are right !
  • #1,076
  • Mar 21, 2022 5:34pm Mar 21, 2022 5:34pm
Quoting ryuryu
{quote}
Look that tradingview done!!! New drawing tools - CIRCLES!! {image}
Now you can have circles on your charts!!!

Hahaaa, hi ryu thank you

And cheers pal.

When you employ your Tradingview circles to help you trade, give me a quick call

I may be able to assist, again, with your blind spot.

  • #1,077
  • Mar 21, 2022 8:22pm Mar 21, 2022 8:22pm
Quoting ryuryu
{quote}
CIRCLES!!
Now you can have circles on your charts!!!



Traders,
we must never fall into a pit of despair
and under-estimate our own self worth,
or distrust our own ability to work things out, like trading for example
ie what do we innately have inside ourselves (just look for it)


Using observation as information

no indis, no DATA, just our eyes
AND
patience of course


The morning is pretty much done for me, well Asia that is. 11½p so will have a small lunch now.

Folks,
please,

do NOT pay other traders to learn how to trade,
there is a wealth of info (free) on the Factory, and,
when we force ourselves to observe,
we learn something about the market. And ourself.

We just may find that something (well hidden, for sure)
that has always been inside us.

all the best
Pete


.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1 using observation as information.png Size: 23 KB
  • #1,078
  • Mar 21, 2022 11:18pm Mar 21, 2022 11:18pm
Quoting TimeTells
{quote} Traders, we must never fall into a pit of despair and under-estimate our own self worth, or distrust our own ability to work things out, like trading for example ie what do we innately have inside ourselves (just look for it) Using observation as information no indis, no DATA, just our eyes AND patience of course The morning is pretty much done for me, well Asia that is. 11½p so will have a small lunch now. Folks, please, do NOT pay other traders to learn how to trade, there is a wealth of info (free) on the Factory, and, when...
Do you assume H4 target on a discretionary basis? Based on your own experience of trading.

Or is there a process to arrive at it?

I always use weekly probability studies to arrive at a target , knowing fully well there are the market participants who will do what they want to; the designated market makers have the access to order books of all spot, futures, and options and the imbalance controller will do keep the flow moving without getting wild keeping the circuit breaker in the sight.

What is your or George's way?
Practice makes a person perfect
  • #1,079
  • Mar 21, 2022 11:48pm Mar 21, 2022 11:48pm
Quoting TimeTells
Using observation as information no indis, no DATA, just our eyes AND patience of course
But you have at least 2 indis on your chart: ADR and Japanese candles. So you ask us not to use indies but you will? Or how?
Observer effect
  • #1,080
  • Edited 12:28am Mar 22, 2022 12:08am | Edited 12:28am
Quoting simnz
{quote}
Do you assume H4 target on a discretionary basis?
What is your or George's way?

Hi simnz,

The ONLY discretionary part of my trading is the ... WHEN ... I enter a Buy or Sell.

That four hour target, and all of George's targets, were explained in quite some detail on George's First Thread

https://www.forexfactory.com/thread/...core-tma-intra?

(tho I hope you've got about 10,000 hours to study, which was George's recommendation
it's a long thread, with the usual thread disruptors coming in with their piffle, but George got used to that & handled them okay )

(and, before you ask me, the 4hr target clue I did give out BY its date AND time from february on the pic, you can work it out from there )
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