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Dumb blonde trading...

  • #61
  • Jan 22, 2008 1:52pm Jan 22, 2008 1:52pm
Quoting twoblink
Those are some nice trendlines, did you learn that from my book??
are you talking to, me or walb Twoblink? I hope its me...Walb Twoblink has a great book hes working on...
Never say never.
  • #62
  • Jan 22, 2008 3:39pm Jan 22, 2008 3:39pm
sorry for the misunderstanding
/ ... clarifying decisions ... /
  • #63
  • Jan 22, 2008 4:07pm Jan 22, 2008 4:07pm
Quoting walb99
sorry for the misunderstanding
You never know walb, he could be talking to either of us...
Never say never.
  • #64
  • Jan 23, 2008 2:39pm Jan 23, 2008 2:39pm
For MPP,
and anyone else interested here is the link to Pascals triangle...for position sizing and mm...
http://www.forexfactory.com/showthread.php?t=62066
Never say never.
  • #65
  • Jan 23, 2008 2:41pm Jan 23, 2008 2:41pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting razldazl
For MPP,
and anyone else interested here is the link to Pascals triangle...for position sizing and mm...
http://www.forexfactory.com/showthread.php?t=62066
Cheers
  • #66
  • Jan 24, 2008 4:54am Jan 24, 2008 4:54am
buying eur at 1.4619, 280 units (woohooo again) sl at -56 1.4561

this chart doesnt coincide well with my oanda prices, but I had a breakout and pullback to my descending trendline
Attached Image
Never say never.
  • #67
  • Edited 5:54am Jan 24, 2008 5:18am | Edited 5:54am
Original position
280 units @ 1.4619 sl 1.4561
adding 210 units @ 4647 sl moved to -21 deep on both so:
position 1 is +38, -9 pips risk
position 2 is +15, sl at 1.4626, risk -21
Never say never.
  • #68
  • Edited 5:56am Jan 24, 2008 5:27am | Edited 5:56am
The market is moving very quickly now...
Original position
280 units @ 1.4619
210 units @ 4647
adding 150 units at 1.4662, sl moved to all three to -15 deep
position 1 is +48, sl at 1.4647 so +30 locked in
position 2 is +21, sl at 1.4647, risk 0
position 3 is at 4.9 now sl at 1.4647, risk -15 pips

will stop adding for now, total position is 640 units with minimal risk
Never say never.
  • #69
  • Jan 24, 2008 5:29am Jan 24, 2008 5:29am
my TL for the day
Attached Image
/ ... clarifying decisions ... /
  • #70
  • Jan 24, 2008 5:44am Jan 24, 2008 5:44am
I will watch what happens in that area... I still dont understand why mr demark method seems to draw a trendline from the middle of nowhere...
Never say never.
  • #71
  • Jan 24, 2008 5:50am Jan 24, 2008 5:50am
to the Pascal triangle numbers,
I should add at 1.4674 and bring my stop to 1.4664...I wont add but I will pull my stop up, even though it seems like suicide..I think this would work well in a big push up...then hopefully you have your full posi in with a stop in a lower area after that push up and then you could bring it up slowely trailing by ATR or daily bars or something
but I think the best is to get your full position in as quickly as possible...not like I thought earlier slowely add on..this is of course subject to womanly disposition LOL, I may decide to change my mind at any time in the future you understand...hehe speak later, Raz
Never say never.
  • #72
  • Jan 24, 2008 5:51am Jan 24, 2008 5:51am
also called "cup (with) handle" pattern
Attached Image
/ ... clarifying decisions ... /
  • #73
  • Jan 24, 2008 6:00am Jan 24, 2008 6:00am
....hes an artist too!
Never say never.
  • #74
  • Jan 24, 2008 6:04am Jan 24, 2008 6:04am
Well as I said, not adding anymore, will bring sl to -10 deep from 1.4672 on all posis so :

1st posi 1.4619 sl at 1.4662, guaranteed 43 pips
2nd posi 1.4647 sl at 1.4662, guar 15 pips
3rd posi 1.4662, sl 0 guaranteed breakeven...

so this seems good on a short term trade basis, lets see how long before we get knocked out...
Never say never.
  • #75
  • Jan 24, 2008 2:25pm Jan 24, 2008 2:25pm
now you know, why there was steeem on top of the cup...
/ ... clarifying decisions ... /
  • #76
  • Jan 24, 2008 3:07pm Jan 24, 2008 3:07pm
Ive been thinking about this getting knocked out so quickly business...and I was thinking about doing a kind of a continual system, so that you would do the original trade plus two add ons, then a bit farther up (or down) start again...so your first trade would start off with the 56 sl
add on at +28, sl pulled up
2nd add on at +21 sl pulled up again, first in guaranteed profit, second at breakeven and third with small downdraw...and THEN
new trade,
first posi sl 56
add on at +28 sl pulled up....
etc

Comments?
Never say never.
  • #77
  • Jan 24, 2008 4:46pm Jan 24, 2008 4:46pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting razldazl
Ive been thinking about this getting knocked out so quickly business...and I was thinking about doing a kind of a continual system, so that you would do the original trade plus two add ons, then a bit farther up (or down) start again...so your first trade would start off with the 56 sl
add on at +28, sl pulled up
2nd add on at +21 sl pulled up again, first in guaranteed profit, second at breakeven and third with small downdraw...and THEN
new trade,
first posi sl 56
add on at +28 sl pulled up....
etc

Comments?
Intially the idea is good, in any sequence after three positions are taken the risk is reduced to Zero/BE, therefore you can start again. the risk is when to enter, if we enter while the ther sequence is running we risk cleaning out both sets of trades on a retracement.
there needs to be some kind of practice to apply that would guide us on entry, Ma's, candle patterns etc, not sure YOU WORK IT OUT.LOL

as an example the EU like's the 5ema and will either sit and wait for the ma to catch up or retrace to it, can't access charts at the moment so will post and example tomorrow. this could then be used with your normal methods of deciding direction etc. but remember we need to KISS it, i can't think to deeply and get eaily distracted by pretty patterns.
  • #78
  • Jan 24, 2008 4:57pm Jan 24, 2008 4:57pm
Comment? OK IMHO you are mixing positiontrading with daytrading. these are completely different methods. I don't want to go into detail here, I think you know what I mean.
/ ... clarifying decisions ... /
  • #79
  • Jan 24, 2008 5:03pm Jan 24, 2008 5:03pm
Quoting MPP
Intially the idea is good, in any sequence after three positions are taken the risk is reduced to Zero/BE, therefore you can start again. the risk is when to enter, if we enter while the ther sequence is running we risk cleaning out both sets of trades on a retracement.
there needs to be some kind of practice to apply that would guide us on entry, Ma's, candle patterns etc, not sure YOU WORK IT OUT.LOL

as an example the EU like's the 5ema and will either sit and wait for the ma to catch up or retrace to it, can't access charts at the moment so will post and example tomorrow. this could then be used with your normal methods of deciding direction etc. but remember we need to KISS it, i can't think to deeply and get eaily distracted by pretty patterns.
Well, if you were to wait until the sequence actually finishes, ie say have your initial posi plus two add ons, then continue until ALL of those positions are in profit and the last has sl at breakeven...then you could start again, so you wouldnt be risking anything because your stops are already decided on the first set, if you follow

For example enter 4600 with 2.8 lots, sl 56
add another 2.1 lots at 4628, sl moves to 28 deep for both
add another 1.5 lots at 4649, sl moves to 21 deep on all so at 4628 (1st posi in profit no risk, 2nd at breakeven, third risking 21 pips)
then at 1.4664 dont add, but move stop to -15 deep, so you would have
1st posi with 49 pips locked in, 2nd with 21 pips locked in, 3rd at breakeven
then ...10 pips farther at 1.4674 you would move stop to -10 on all posis
so 1st has 64, 2nd has 36, 3rd has 16 and whammo the market drops back
so then you are knocked out as above..BUT your super well thought out plan says that after the market moves 6 pips farther ie 1.4680 you start again
so if you get back to 1.4680 you buy 2.1 lots with a 56 sl
scenario 1:
market goes against you ohhhhhhtooo baddddd bam -56 on that one, so you lost earlier profits waaaah
scenario 2, market goes against you a bit but gets going again and there you are in on the move again...

Yeah babble babble hows that for a big KISS
Never say never.
  • #80
  • Edited 7:36am Jan 25, 2008 4:39am | Edited 7:36am
OK
so new trade limit order in for a long eur at 1.4680, with 280 units, sl at 1.4596
going to try to get a circuit going...

would be like this
buy 280 units at 1.4680 sl 1.4596
add 210 units at 1.4708 sl on both positions at -56 deep so 1.4652
add 150 units at 1.4729, sl on all three at -21 deep so 1.4708
at 1.4744 pull stops to -15 deep so 1.4729
at 1.4754 stops at-10, so 1.4744
at this time all positions would be stopped out in the money or breakeven if the market drops

So NOW buy new position 280 units six pips later at 1.4756, sl at 1.4672
add 210 units at 1.4784, and bring stops to -56 deep so 1.4728
add 150 units at 1.4805, and bring stos to -21 deep on all three, so 1.4784
(btw have you noticed the numbers are repeating themselves hehe)
at 1.4820 pullstops to -15 deep so 1.4805
at 1.4830 stops at -10 deep so 1.4820 on all posis

and we start again, like a circuit...when the market changes course we will be knocked out, but our earlier trade is never in danger of closing negative before the new trade opens, and indeed we COULD have two full positions running at one time with minimum risk....unless Im way off in my thinking
...
Never say never.
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