Dang guys.... you gotta have a calculus degree to read all that stuff !!!!!!!
- #21
- Jan 15, 2008 12:58pm Jan 15, 2008 12:58pm
- | Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
- #23
- Jan 15, 2008 1:48pm Jan 15, 2008 1:48pm
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
Am I supposed to understand this?
Well, dont worry about reading material I will be here for the next year or so trying to work out these last posts LOL, thanks guys, Raz...
Well, dont worry about reading material I will be here for the next year or so trying to work out these last posts LOL, thanks guys, Raz...
Never say never.
- #27
- Jan 16, 2008 3:56am Jan 16, 2008 3:56am
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
Ok
so stopped out of my eur long from 1.4840 at 1.4871, BUT I had an add on at 90 so that position (smaller) was a loss...still a winner overall but in this case I didnt get it right. Or did I? I say I didnt get it right because I would have been better off not adding in this case, but still not a loser so thats what I am after...
I have to say I was looking for a simpler add on strategy, after all read the name of this journal!!! Anyway obviously going to have to organize a plan for each trade and have calculator at hand.(!)..I was really looking for something more like enter at x 1/2 posi add another x at pullback if seen using most likely 50 fib or trendline touch and so forth...but still nice to have the feedback ..my face was kind of like this when I saw those posts though
btw twoblink, my charts look nothing like those other ones I really hate indicators, I put on a few trendlines a fib and some ppzs but nothing more...I cant work out if thats good or not but I cant deal with any more I have to keep things simple...must be the blonde in me. Im still going to try to work out what they mean though...just kiddin I really am working on it ..speak soon, Raz
so stopped out of my eur long from 1.4840 at 1.4871, BUT I had an add on at 90 so that position (smaller) was a loss...still a winner overall but in this case I didnt get it right. Or did I? I say I didnt get it right because I would have been better off not adding in this case, but still not a loser so thats what I am after...
I have to say I was looking for a simpler add on strategy, after all read the name of this journal!!! Anyway obviously going to have to organize a plan for each trade and have calculator at hand.(!)..I was really looking for something more like enter at x 1/2 posi add another x at pullback if seen using most likely 50 fib or trendline touch and so forth...but still nice to have the feedback ..my face was kind of like this when I saw those posts though
btw twoblink, my charts look nothing like those other ones I really hate indicators, I put on a few trendlines a fib and some ppzs but nothing more...I cant work out if thats good or not but I cant deal with any more I have to keep things simple...must be the blonde in me. Im still going to try to work out what they mean though...just kiddin I really am working on it ..speak soon, Raz
Never say never.
Ok
so stopped out of my eur long from 1.4840 at 1.4871, BUT I had an add on at 90 so that position (smaller) was a loss...still a winner overall but in this case I didnt get it right. Or did I? I say I didnt get it right because I would have been better off not adding in this case, but still not a loser so thats what I am after...
I have to say I was looking for a simpler add on strategy, after all read the name of this journal!!! Anyway obviously going to have to organize a plan for each trade and have calculator at hand.(!)..I was really looking for something more like enter at x 1/2 posi add another x at pullback if seen using most likely 50 fib or trendline touch and so forth...but still nice to have the feedback ..my face was kind of like this when I saw those posts though
btw twoblink, my charts look nothing like those other ones I really hate indicators, I put on a few trendlines a fib and some ppzs but nothing more...I cant work out if thats good or not but I cant deal with any more I have to keep things simple...must be the blonde in me. Im still going to try to work out what they mean though...just kiddin I really am working on it ..speak soon, Raz
: Anyway I deleted it to keep this thread clean. Good job on the last trade. A profit is better than a loss, and in this case, size doesn't matter.
Take a report.
- #29
- Edited 5:55am Jan 16, 2008 5:11am | Edited 5:55am
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
Ok just a few things so I dont forget myself...if I want to put in a trade at say 1.4000 I am going to take a half position for the sake of simplification 1000 units and IF I go 50 pips into profit, ie my ts has me at be I will allow myself to add 500 more...my new average position has to stay 50 pips lower than current market price so I am staying at least at breakeven...ok AND if I get in and the market goes against me I will say on a 50 pip stop close 500 units at -30 and another 250 at -40 so that when I am finally stopped out my loss is less than it would have been if Id stayed in with the full position, and therefore I can even have a larger original position...
Making money is hard work folks
Ok new position..limit buy on eur at 1.4775, so lets see my plan...
leave orders to sell back 250 units at 4745, and 150 more at 1.4735
will add 250 units if we get up to 1.4825 and pullback thereabouts...
Making money is hard work folks
Ok new position..limit buy on eur at 1.4775, so lets see my plan...
leave orders to sell back 250 units at 4745, and 150 more at 1.4735
will add 250 units if we get up to 1.4825 and pullback thereabouts...
Never say never.
- #30
- Edited 8:44am Jan 16, 2008 8:05am | Edited 8:44am
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
Never say never.
- #32
- Jan 16, 2008 1:11pm Jan 16, 2008 1:11pm
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
Way to go RAz!! I'll be keeping an eye on this thread too!!
Hmm good thing my stop was at breakeven everything has crashed since I went out earlier...what happened here???
Never say never.
- #33
- Jan 16, 2008 1:53pm Jan 16, 2008 1:53pm
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
Never say never.
- #34
- Jan 16, 2008 2:38pm Jan 16, 2008 2:38pm
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
Hi Raz', just a quick note, Oanda gives you your average position size, cost and pips on the postions tab
Never say never.
- #35
- Jan 16, 2008 4:25pm Jan 16, 2008 4:25pm
- | Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
- #36
- Jan 17, 2008 12:41am Jan 17, 2008 12:41am
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
OK,
so update on eur trade, executed at 1.4671, the market dropped and I sold half back at 1.4641 and the rest at 1.4635, where my 50 pip manual trailing stop (zzzzzzzzzzzzzz) was
So does anyone sleep using this method?
Well from now on I will use really tiny positions and that way not have to spend all night thinking about where my stop should be, whether a sell order is under my stop, meaning I should cancel it and so forth...all good training for the olympics but no way am I staying up like this for no money. I used the mt4 platform alarm...note my office is on the other side of the house so basically the alarm wakes everyone up when it wakes me up...so not ideal How do other people manage trades...or is this why nobody does manage trades lol...
On IB if you scale out of orders with a trailing stop in place you have to readjust your trailing stop (sizewise) if you cut a position, so that is a pain in the neck as well...if you leave your trail on and cut your position you could find yourself with the leftover trail sell still on when you wake up...so the trailing stop method is not without problems either. Looks like if I want to carry out this scale in scale out method I am in for some sleepless nights until you get a trade going.
Other option...start the trade off very very small and dont scale out, just scale in...thoughts anyone? Raz
so update on eur trade, executed at 1.4671, the market dropped and I sold half back at 1.4641 and the rest at 1.4635, where my 50 pip manual trailing stop (zzzzzzzzzzzzzz) was
So does anyone sleep using this method?
Well from now on I will use really tiny positions and that way not have to spend all night thinking about where my stop should be, whether a sell order is under my stop, meaning I should cancel it and so forth...all good training for the olympics but no way am I staying up like this for no money. I used the mt4 platform alarm...note my office is on the other side of the house so basically the alarm wakes everyone up when it wakes me up...so not ideal
How do other people manage trades...or is this why nobody does manage trades lol...On IB if you scale out of orders with a trailing stop in place you have to readjust your trailing stop (sizewise) if you cut a position, so that is a pain in the neck as well...if you leave your trail on and cut your position you could find yourself with the leftover trail sell still on when you wake up...so the trailing stop method is not without problems either. Looks like if I want to carry out this scale in scale out method I am in for some sleepless nights until you get a trade going.
Other option...start the trade off very very small and dont scale out, just scale in...thoughts anyone? Raz
Never say never.
OK,
so update on eur trade, executed at 1.4671, the market dropped and I sold half back at 1.4641 and the rest at 1.4635, where my 50 pip manual trailing stop (zzzzzzzzzzzzzz) was
So does anyone sleep using this method?
Well from now on I will use really tiny positions and that way not have to spend all night thinking about where my stop should be, whether a sell order is under my stop, meaning I should cancel it and so forth...all good training for the olympics but no way am I staying up like this for no money. I used the mt4 platform alarm...note my office is on the other side of the house so basically the alarm wakes everyone up when it wakes me up...so not ideal
On IB if you scale out of orders with a trailing stop in place you have to readjust your trailing stop (sizewise) if you cut a position, so that is a pain in the neck as well...if you leave your trail on and cut your position you could find yourself with the leftover trail sell still on when you wake up...so the trailing stop method is not without problems either. Looks like if I want to carry out this scale in scale out method I am in for some sleepless nights until you get a trade going.
Other option...start the trade off very very small and dont scale out, just scale in...thoughts anyone? Raz
you can split your order into two or three or how many you wish, and stick a desired stop on each of them. say if your order is 1,000 @ 1.4500, and you wish to get out of 600 @ 1.4450 and 400 @ 1.44
you can split the order into two orders, one order buys 600 @ 1.45 with a stop @ 1.4450 and the other one buys 400 @ 1.45 with a stop @ 1.44
Take a report.
- #38
- Jan 17, 2008 1:37pm Jan 17, 2008 1:37pm
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
Never say never.
- #39
- Jan 18, 2008 1:23am Jan 18, 2008 1:23am
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
Never say never.
- #40
- Jan 18, 2008 2:15pm Jan 18, 2008 2:15pm
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
Never say never.