Igrok Method. Q's & A's. Comments, thoughts and ideas
- #1,681
- Sep 16, 2008 12:33am Sep 16, 2008 12:33am
- | Membership Revoked | Joined Dec 2006 | 2,771 Posts
- #1,682
- Sep 16, 2008 12:46am Sep 16, 2008 12:46am
- | Membership Revoked | Joined Dec 2006 | 2,771 Posts
- #1,683
- Sep 16, 2008 1:09am Sep 16, 2008 1:09am
Hi Igrok,
I know this is non-TA, but I guess this piece is not less important (as part of a whole in harmony) for successful trader in the long run eg. balance in life, for not missing any of the precised-good trades but also other good things in life...
1. Do you babysit your trade everyday? and how many times you check all those charts for the price movements in a day? eg. hourly, 4-hourly or every 5-15 minutes? (I guess market sessions not quite matters to you as you trade based on "formation & main-move" and price could just touch those borders in any time of the day?)
2. Very successfully using such a precised small stops of 10-20pips (not 50-100pips) from time to time (even on higher timeframes and on most volatile pairs) may I know the main-steps of how you manage to "project & set" all those stops eg. in case when there are multiple pairs tradeable almost at the same time? eg. do you use many monitors and use some sort of alerts on certain price levels?... I'm just amazed!
Thank you
I know this is non-TA, but I guess this piece is not less important (as part of a whole in harmony) for successful trader in the long run eg. balance in life, for not missing any of the precised-good trades but also other good things in life...
1. Do you babysit your trade everyday? and how many times you check all those charts for the price movements in a day? eg. hourly, 4-hourly or every 5-15 minutes? (I guess market sessions not quite matters to you as you trade based on "formation & main-move" and price could just touch those borders in any time of the day?)
2. Very successfully using such a precised small stops of 10-20pips (not 50-100pips) from time to time (even on higher timeframes and on most volatile pairs) may I know the main-steps of how you manage to "project & set" all those stops eg. in case when there are multiple pairs tradeable almost at the same time? eg. do you use many monitors and use some sort of alerts on certain price levels?... I'm just amazed!
Thank you
- #1,685
- Edited 2:20am Sep 16, 2008 2:06am | Edited 2:20am
- | Membership Revoked | Joined Dec 2006 | 2,771 Posts
Hi Igrok,
I know this is non-TA, but I guess this piece is not less important (as part of a whole in harmony) for successful trader in the long run eg. balance in life, for not missing any of the precised-good trades but also other good things in life...
1. Do you babysit your trade everyday? and how many times you check all those charts for the price movements in a day? eg. hourly, 4-hourly or every 5-15 minutes? (I guess market sessions not quite matters to you as you trade based on "formation & main-move" and price could just touch those borders in any time of the day?)
2. Very successfully using such a precised small stops of 10-20pips (not 50-100pips) from time to time (even on higher timeframes and on most volatile pairs) may I know the main-steps of how you manage to "project & set" all those stops eg. in case when there are multiple pairs tradeable almost at the same time? eg. do you use many monitors and use some sort of alerts on certain price levels?... I'm just amazed!
Thank you
2. I never place 100 pip stops and rarely even 50. I don't consider such trading plans that require stops of this size regardless of the time frame. Market is a very precise thing and there is no need to miss a point by a 100 pips or so. But, of course, I have several monitors which I mostly need to track and to operate with different trading platforms from different banks and dealers. All the screens are large enough to watch them from the distance of 15 feet away. My charting software is accessible from the couch and I don't even need to lift my rear end up from it in order to conduct my regular market analysis. Multiple pairs are not a problem. I usually chose the most promising one with the shortest stops available for a trade.
- #1,691
- Sep 16, 2008 3:35am Sep 16, 2008 3:35am
1. I don't need to babysit anything. The hardest part is to compose a plan. It takes time and patience. After the plan is composed I just place my orders ( including the stops) and may go back to sleep or do whatever else that I want. Considering that I mostly work in horizontal position from a couch, it takes just a few seconds to turn myself from being in business into a complete sleeping mode.
2. I never place 100 pip stops and rarely even 50. I don't consider such trading plans that require stops of this size regardless of the time frame. Market is a very precise thing and there is no need to miss a point by a 100 pips or so. But, of course, I have several monitors which I mostly need to track and to operate with different trading platforms from different banks and dealers. All the screens are large enough to watch them from the distance of 15 feet away. My charting software is accessible from the couch and I don't even need to lift my rear end up from it in order to conduct my regular market analysis. Multiple pairs are not a problem. I usually chose the most promising one with the shortest stops available for a trade.
2. Btw, how long (on average) would it take to compose one plan? and after it has been placed as stop/limit order, how long (on average) would it usually be triggered by the PA?
3. Supposed when you see 2-4 pairs are tradeable of almost equal stops, would you trade all of them or you would rather place "more position sizes" on just 1-2 pairs?
- #1,693
- Sep 16, 2008 3:51am Sep 16, 2008 3:51am
- | Membership Revoked | Joined Dec 2006 | 2,771 Posts
1. I guess you must have a very nice and comfortable couch settings over there.. hope you don't mind taking a snap shot and let me see the photo someday (when you're willing of course), really curious to know how super-trader working-settings looks like...
2. Btw, how long (on average) would it take to compose one plan? and after it has been placed as stop/limit order, how long (on average) would it usually be triggered by the PA?
3. Supposed when you see 2-4 pairs are tradeable of almost equal stops, would you trade all of them or you would rather place "more position sizes" on just 1-2 pairs?
2. Sometimes it takes a few hours to compose and then it takes between few minutes and few hours to be executed automatically. If something changes in the market I cancell the orders and start working on a new one.
3. I prefer to concentrate on one or two pairs at a time.
- #1,694
- Sep 16, 2008 4:06am Sep 16, 2008 4:06am
1. No problem. I can attach a couple of photos here.
2. Sometimes it takes a few hours to compose and then it takes between few minutes and few hours to be executed automatically. If something changes in the market I cancell the orders and start working on a new one.
3. I prefer to concentrate on one or two pairs at a time.
2. Do you also use market order sometimes? if you do, would you use 5-minutes or even 1-minute timeframe for more precised entry?
3. Just curious, after switching between timeframes on your chart, what is your default main-timeframe to watch those price movements generally?
- #1,695
- Edited 4:24am Sep 16, 2008 4:14am | Edited 4:24am
- | Membership Revoked | Joined Dec 2006 | 2,771 Posts
1. Thank you very much Igrok!, that's very kind of you.. after seeing those photos, at least I could "dream of now" how my settings would look like one day (when I get there)...
2. Do you also use market order sometimes? if you do, would you use 5-minutes or even 1-minute timeframe for more precised entry?
3. Just curious, after switching between timeframes on your chart, what is your default main-timeframe to watch those price movements generally?
2. I do. Mostly in those cases when I have to trade from "floating" levels like ascending or descending lines.
3. I use sometimes 5 min chart for additional precision, but not for actual market analysis. For intraday my basic time frame is 60 min, 4h for intraweek and then daily-weekly-monthly for longer-term.
- #1,696
- Sep 16, 2008 4:30am Sep 16, 2008 4:30am
1. Welcome. Those are the old photos. Plasma screen got burned out and I replaced it with a bit bigger LCD just a week ago. Also took out some smaller screens and placed a wireless keyboard and mouse next to the couch on the coffee table.
2. I do. Mostly in those cases when I have to trade from "floating" levels like ascending or descending lines.
3. I use sometimes 5 min chart for additional precision, but not for actual market analysis. For intraday my basic time frame is 60 min, 4h for intraweek and then daily-weekly-monthly for longer-term.
2. When you're convenience, would you please elaborate a bit more on "floating levels" of ascending and descending lines? eg. where to place the stops?
- #1,697
- Sep 16, 2008 4:37am Sep 16, 2008 4:37am
- | Membership Revoked | Joined Dec 2006 | 2,771 Posts
1. Woohooo.. very very nice and even nicer!...
2. When you're convenience, would you please elaborate a bit more on "floating levels" of ascending and descending lines?
2. You never know when the market touches an angled line thus making it impossible to predict in advance where the exact price will be at the moment of touch.
- #1,698
- Sep 16, 2008 4:51am Sep 16, 2008 4:51am
1. Laziness is the mother of ingenuity.
2. You never know when the market touches an angled line thus making it impossible to predict in advance where the exact price will be at the moment of touch.
2. Ok.. so what would you do as to be able to take those trades? would you keep watching the chart from time to time? or use some sort of TL's alert?
3. And for this floating-level trades, would you place your stops just behind TL? or behind the extremes?
- #1,699
- Sep 16, 2008 4:54am Sep 16, 2008 4:54am
- | Membership Revoked | Joined Dec 2006 | 2,771 Posts
1. Yeah I agree, hence the ongoing new-born technologies for it.. but why not when we could afford them for enjoying life to its fullest...
2. Ok.. so what would you do as to be able to take those trades? would you keep watching the chart from time to time? or use some sort of TL's alert?