{quote} $800 Monopoli Money
Real dollars will be another story.
Good luck to all of you experimenting with this threads strategy.
Gents, This is just my opinion but when you trade using a Demo Account you should for your own learning and development use a balance that is close to your real account balance for you can really validate your strategy and rules. Its no different than practicing any sport or business, try and simulate a real account as close as possible so when you do transfer over there will be less risks or differences, just my experience only. A real account will give you pain because you will naturally think of the money... ouch that hurts. cpfleger
100,000 USD using 1 lot entries, +2% account growth = 2000 USD win.
10,000 USD using 0.1 lot entries, +2% account growth = 200 USD win.
1,000 USD using 0.01 lot entries, +2% account growth = 20 USD win.
We are just moving zero's around.
Trouble happens when the position size is too big for the account and the market move.
{quote} $800 Monopoli Money
- #1,064
- Edited 4:27pm Jan 3, 2023 4:02pm | Edited 4:27pm
- Joined Dec 2015 | Status: Trader | 2,586 Posts
{quote} yes he does, that's where i got the idea from! i bet a tough trend will find you first, good luck! time to warm up i think... {image} warm up didn't last long... {image} and then straight into battle! {image}{image}{image}
Another point here your chart
Why so early? Yiou must calm and wait for the situation that it is more clear. I would the first trades not taken. At the first sign we have a pause short before and price rouch further i would concider to take the action. Why you start so early. If you not on train before the price is wide in ema back, so what? Next situation will come.
And further ...
Was this that move? Here the view from M30. As you can see it make sense to wait for area who make some sense.
Perfection is the enemy of good enough!
- #1,067
- Jan 3, 2023 7:59pm Jan 3, 2023 7:59pm
- Joined Dec 2022 | Status: Trader | 3,233 Posts
{quote} If you never concider taking after such moves a loss, how about calculate what you need before the trade is an area you can close as concept is more about? If you can affort to trade every single position with 0.04 and as you know most of the time the first entrys are not going that fast in positive, what about to start with less say 0.01 and increase after time to the 0.04 you are now have from first position? You reduce so your risk a bit. Another point here your chart {image} Why so early? Yiou must calm and wait for the situation that...
trading live is obviously different to hindsight, and looking back on this one, i am very pleased with the result which ended up playing out as i was expecting, obviously, i was not intending to deal with a tough trend on my initial entries, however, i was adequately prepared to deal with it accordingly
i cannot really answer your questions - i took the trade because it met my criteria, i managed it according to my risk management plan, and i closed it in a profit, that's it!
every minute matters!
- #1,068
- Edited 8:42pm Jan 3, 2023 8:18pm | Edited 8:42pm
- Joined Dec 2022 | Status: Trader | 3,233 Posts
{quote} That's THE question with cost averaging IMHO. We need to find a way to manage these types of runaways, it doesn't matter what type of entry is used, they'll happen eventually. Does the full EMA strategy mention something we are missing here on this subject?
i do not have the full ema strategy, there was another guy that chimed in a few pages back saying we are all doing it wrong if we were to follow the full ema strategy, so i don't know, with the glimpses that KoF has provided, i'd say it involves hedging to ride the trend when you get it wrong for a counter trend return to the ema's and closing the losers along the way
i think that's why he says it's a lot harder then the 1% strategy which appears to just follow trends,
i'd also suggest that if the 1% strategy (what i've seen of it anyway) was applied to audusd the last couple of days, i probably wouldn't have to trade for the rest of the year!
every minute matters!
- #1,069
- Edited 10:09pm Jan 3, 2023 9:44pm | Edited 10:09pm
RSI comparison - M15 TF just for viewing purposes but please look at the RSI Indicator and compare (MTF using Ehler Smoothed vs Regular RSI). Some may prefer or not. cpfleger {image}
Thanks for sharing my friend.
{quote} yes Abade, unfortunately, "they'll happen eventually", and i'd say josh handled his trip down the rabbit hole very well! i do not have the full ema strategy, there was another guy that chimed in a few pages back saying we are all doing it wrong if we were to follow the full ema strategy, so i don't know, with the glimpses that KoF has provided, i'd say it involves hedging to ride the trend when you get it wrong for a counter trend return to the ema's and closing the losers along the way i think that's why he says it's a lot harder then the...
We could guess such moves beforehand but would get wrecked 99% of the time, maybe that's why it's called the 1%??
(maybe it's some kind of cruel joke from a salesman).Edit: And it just keeps going (time to sell, that's what I am talking about)
Edit 2: *Monopoly Cash Register Sound Effect*
- #1,070
- Jan 3, 2023 10:20pm Jan 3, 2023 10:20pm
- Joined Dec 2022 | Status: Trader | 3,233 Posts
every minute matters!
- #1,072
- Jan 3, 2023 10:57pm Jan 3, 2023 10:57pm
- Joined Dec 2022 | Status: Trader | 3,233 Posts
{quote} AUDUSD will touch the 200 EMA in a few minutes.
this is where analysing volume can help, hasn't been talked about much in this thread - as i started entering, i could see the higher than average volumes associated with bullish moves indicating a consolidation period, so i scattered my take profits based on price action to take advantage of it
which eventually paid off!
every minute matters!
{quote} i hope not! {image} this is where analysing volume can help, hasn't been talked about much in this thread - as i started entering, i could see the higher than average volumes associated with bullish moves indicating a consolidation period, so i scattered my take profits based on price action to take advantage of it {image} which eventually paid off! {image}
{quote} i hope not! {image} this is where analysing volume can help, hasn't been talked about much in this thread - as i started entering, i could see the higher than average volumes associated with bullish moves indicating a consolidation period, so i scattered my take profits based on price action to take advantage of it {image} which eventually paid off! {image}
(will buy a few hotels):
- #1,074
- Jan 3, 2023 11:54pm Jan 3, 2023 11:54pm
- Joined Dec 2022 | Status: Trader | 3,233 Posts
every minute matters!
- #1,075
- Edited 12:38am Jan 4, 2023 12:10am | Edited 12:38am
{quote} i agree with both points of view - it helps immensely while learning seeing the big dollars build up, and there's nothing wrong with that, as long as the lot sizing scale that you plan to use is the same you plan to use live, that is the most important thing as Abade says, however, for me personally, i prefer to simulate as close to live conditions as possible like cpfleger is suggesting
Edit: Yes! It's a joke
Inserted Video
- #1,076
- Edited 3:54am Jan 4, 2023 12:18am | Edited 3:54am
- Joined Dec 2022 | Status: Trader | 3,233 Posts
{quote} Are you saying this because of the "Active Windows" message on my screen?
edit: cool!!! i don't watch simpsons, maybe i'll get it one day...
edit: ok, i think i'm getting it now, just a bit slow! i hope that doesn't apply to KoF, i also find it funny that he has yet to activate his windows or get a high speed internet connection! haven't noticed the traffic though, i'll listen for it a bit closer next time i watch his video
every minute matters!
{quote} sorry mate, you've lost me there, if that was a joke and i didn't get it i apologise! i do not see an active windows message and do not really understand the simpsons caption
Edit: The KoF has the "Activate Windows" message in some of his streams, I find it a bit funny (you can hear a lot of traffic as well).
