Dang guys.... you gotta have a calculus degree to read all that stuff !!!!!!!
Dumb noob searching for trading system... 14 replies
My dumb question ( What is a EA?) 5 replies
VT Dumb Syntax Questions 4 replies
DislikedOk
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, RazIgnored
DislikedHi Raz', just a quick note, Oanda gives you your average position size, cost and pips on the postions tabIgnored
DislikedStop at 4767 now, so good news could easily knock me out -8 or so...if so will look for another posi lower down...
The trade has gone in my direction so I have deleted the sell orders below my entry price and will be able to put my stop to breakeven shortly, hopefully before I go out in a little while...extremely boring that oanda hasnt got trailing stops....Ignored
DislikedOK,
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? RazIgnored