Premature Jacket Emulation. | Forex Factory

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Migrating MT4-MT5 - Do you have a universal emulation script? 0 replies

Premature Jacket Emulation.

  • #1
  • First Post: Edited 8:03pm Mar 6, 2009 7:40pm | Edited 8:03pm
If you think that, after you enter a Trade, It better move Your way right from the get go, good luck. That's a lot of spread to pay.

I know this Market can move 300p in the same direction on the... pick one... 2Hr, 4Hr or whatever but I guarentee you it did not move in a Straight Asccent/Decent. It BOUNCED!!!
Edit: sorry guys;
YOUR Job, as a Trader, is to see beyond those Bounces to what Your Research Tells you is The Target.
PLAY To The TAIf you are an apprentice Scalper, I offer the same word of caution.
RGET.
By all means use SL, ELO, ESO or whatever your plan suggests.
{btw. if your plan includes playin the 1 Open Position, You're Fu#@&}
Play Partials if a Full Lot is a little above your Table Stakes.

PEASE: I Honestly wish that you will Never Enter Another Trade without Already having considered HowTFk are you gonna get Your A$$ outta there.

Blew all arguments I had even before I saw some sembelnce of movement in my direction
  • #2
  • Mar 6, 2009 8:02pm Mar 6, 2009 8:02pm
How I wish I was good at crosswords

Premature-early ,before the alloted time.

Jacket-a type of coat

Emulation-from emulate...to copy someone you look up to/idolise.

The greatest enemy of a good plan is the dream of a perfect plan.
  • #3
  • Mar 6, 2009 8:06pm Mar 6, 2009 8:06pm
Quoting steve10%
How I wish I was good at crosswords

Premature-early ,before the alloted time.

Jacket-a type of coat

Emulation-from emulate...to copy someone you look up to/idolise.

Sorry Steve. Had the idea compiled in various formats and only posted naked. Idiot Me.

Maybe I can save it...?
  • #4
  • Mar 6, 2009 8:13pm Mar 6, 2009 8:13pm
Quoting Bemac
{btw. if your plan includes playin the 1 Open Position, You're Fu#@&}
Are you saying we should be splitting up our entries?

Leon
Living the adventure in my head.
  • #5
  • Mar 6, 2009 8:52pm Mar 6, 2009 8:52pm
Shrug. I tend to keep a single open positions (well, per pair at least), works well enough. Sometimes if I'm lucky and stuff goes well I'll get a small rider lot, but that's not often in markets like these.

Sure, price moves all around... but there are points in time and price where price shouldn't return if a trade condition is to continue being true. This gives you a place to hang your hat and set a stoploss.
  • #6
  • Mar 6, 2009 9:19pm Mar 6, 2009 9:19pm
Quoting Leonlorenzo
Are you saying we should be splitting up our entries?

Leon
I am suggesting You Calculate Your Exposure to the Market.

5 Full @ $50.00 bucks a tic..
OR
5 MicMinis @ $0.05 bucks a tick.
The Point Being...

1 Open Contract Trade Begets One Closed Trade.

Those are Handcuffs I would struggle to avoid.

If Your Account wil afford you the luxury of Trading 1 Full Lot...
Then Trade 5 Minis.
Manipulate them like a rented mule.
Out of 2 to TP. back in to add to my Locked in TP.
Out of 3 and feeling good.

Notice that of the luxury of the ability to Trade 1 Full, I said..
'Then Trade 5 Minis.'

I missed the Perfect Entry & now it's gonna turn my way....

Scaling In is a lesson to be learned AFTER Scalping.
  • #7
  • Mar 6, 2009 9:26pm Mar 6, 2009 9:26pm
Just my opinion or is Bemac a little less comprehendable than usual? Or it might just be me, tired I supose. Ill have another read in the morning.
Living the adventure in my head.
  • #8
  • Mar 6, 2009 9:32pm Mar 6, 2009 9:32pm
Quoting Bemac
I am suggesting You Calculate Your Exposure to the Market.

5 Full @ $50.00 bucks a tic..
OR
5 MicMinis @ $0.05 bucks a tick.
The Point Being...

1 Open Contract Trade Begets One Closed Trade.

Those are Handcuffs I would struggle to avoid.

If Your Account wil afford you the luxury of Trading 1 Full Lot...
Then Trade 5 Minis.
Manipulate them like a rented mule.
Out of 2 to TP. back in to add to my Locked in TP.
Out of 3 and feeling good.

Notice that of the luxury of the ability to Trade 1 Full, I said..
'Then Trade 5 Minis.'

I missed the...
Absolutely agreed.
More on this: http://www.investopedia.com/universi...ules/rule7.asp
  • #9
  • Mar 6, 2009 9:32pm Mar 6, 2009 9:32pm
Quoting Leonlorenzo
Just my opinion or is Bemac a little less comprehendable than usual? Or it might just be me, tired I supose. Ill have another read in the morning.
Done for the week & actually heading out for dinner with "The One"

sorry I don't have time to put it all on a plate for you...
  • #10
  • Mar 6, 2009 9:33pm Mar 6, 2009 9:33pm
Quoting Leonlorenzo
Just my opinion or is Bemac a little less comprehendable than usual? Or it might just be me, tired I supose. Ill have another read in the morning.
Makes sense to me.
  • #11
  • Mar 6, 2009 9:38pm Mar 6, 2009 9:38pm
Quoting Bemac
sorry I don't have time to put it all on a plate for you...
... sometimes eating with bare fingers can be an amazing experience...
  • #12
  • Mar 6, 2009 9:44pm Mar 6, 2009 9:44pm
Quoting Bemac
Done for the week & actually heading out for dinner with "The One"

sorry I don't have time to put it all on a plate for you...
Dont want anything on a plate, especially not from someone with an attitude problem, atleast towards me.
Living the adventure in my head.
  • #13
  • Mar 6, 2009 10:00pm Mar 6, 2009 10:00pm
Quoting Leonlorenzo
Dont want anything on a plate, especially not from someone with an attitude problem, atleast towards me.
Then;
Good Luck is all I can afford you;
  • #14
  • Mar 6, 2009 10:05pm Mar 6, 2009 10:05pm
Quoting Bemac
I am suggesting You Calculate Your Exposure to the Market.

5 Full @ $50.00 bucks a tic..
OR
5 MicMinis @ $0.05 bucks a tick.
The Point Being...

1 Open Contract Trade Begets One Closed Trade.

Those are Handcuffs I would struggle to avoid.

If Your Account wil afford you the luxury of Trading 1 Full Lot...
Then Trade 5 Minis.
Manipulate them like a rented mule.
Out of 2 to TP. back in to add to my Locked in TP.
Out of 3 and feeling good.

Notice that of the luxury of the ability to Trade 1 Full, I said..
'Then Trade 5 Minis.'

I missed the Perfect...
Bemac, spoken like a long time pro. This is how it is done after one has traded for many years.

In fact, I will determine my risk exposure and then break up my allocation into parts. Starting with about a third at the entry I think is appropriate and then adding to my position if the market moves against me a bit, but still within my defined limits of a viable trade. I then try to place the larger portion of my allotment on the final scale in. The reason is that I never move my stop, so each time I scale into the trade I am scaling in with less risk, because there is less distance to my stop. The entire trade is predefined, so I know what the total risk is and instead of trying to make the market conform to my entry point I am entering in a range of what I have established as my entry area.

Some less experienced might think this is averaging down, but it is not, because I am just scaling in using a established risk for the entire package and also knowing that I am never smarter than the market, so I must be ready with my entries to be adaptable.

Great posts and a very valuable concept. Crystal clear to me.

In regards to Leon, man you need to grow a thicker skin and stop wearing your emotions out on your sleeve or you will never make it in this business.

It is obvious Bemac has forgotten more about trading than you have ever known. It would be very wise to aquire him as a friend rather than confront him as an adversary. Play the game smart man. Do what is in your long term interest, not in your immediate rage.


PS, I will often go in and out several times in the area of my entry, while all the time keeping in mind my big picture of the trade. Just taking on the role of a pseudo market maker while all the time bettering my entry in to my trade.
I like the rented mule analogy. That is exactly what it is like
  • #15
  • Edited Mar 7, 2009 8:43am Mar 6, 2009 10:34pm | Edited Mar 7, 2009 8:43am
Quoting Leonlorenzo
Are you saying we should be splitting up our entries?

Leon
Absaflogginlutley you should be splitting your Trades.

By that I mean;


Entry = 100% sure. Then Place a Trade. Period. Be ready to adjust on 50% of your Trade Lots.

Entry = 65% sure Then place a Trade that is equivalent to 65% of your Max Exposore. This will allow you to manipulate the Trade. Add Or Close a portion thereof.

{Edit: removed useless info that just sounded like bragging}



And yes, Some of us actually Live off this & still have time{or willingness} to Still come back here & throw our tuppence in.

{Now I expect to be inundated with PM's asking HOW. Before you PM me. I have been invited to a few... But can't post worth a s#it because it just seems like....

Instinct}


Bemac.
I will continue to support & advise when I see the opportunity.

btw. it's getting tough to find those in some of the more popular threads.

Staying on topic may induce the folks you really want to contribute to speak.
  • #16
  • Edited 11:03pm Mar 6, 2009 10:48pm | Edited 11:03pm
Quoting thatwasme
...

Some less experienced might think this is averaging down, but it is not, because I am just scaling in using a established risk for the entire package and also knowing that I am never smarter than the market, so I must be ready with my entries to be adaptable.

...
Hey TWM;
based not only on this response but others of yours I have noticed.
{this is not about stroking, it's about understanding}
Here's a vouch.
Means Nothing while getting there,
And Paints a Target on you when you do.
{self preservation suggests More Targets More Likelyhood of MY survival.}
I'll have the calamari to start. thanks.
  • #17
  • Mar 7, 2009 12:49pm Mar 7, 2009 12:49pm
Yes well Leon takes things really personally and emotionally.
He accused me of having an agenda for merely stating simple facts.

But you're right,Bemac.
As well TWM.

I've been doing this for 4 years plus.

I started out with minis,then got up to 20 to 30 minis,tried 2 X100k contracts and found it better to trade many minis.

Now do the same thing but with 100k contracts...start out with 3 to 5 depending on pair...see how they go....and if the market turns around I exit.
But if it it keeps going like it does 75+% of the time then I'll add another 3 to 10 and often more contracts.

See any hints of a turnaround and I'll dump a bunch and take profit,but not all...and taking profit ads to my account which means I can make more trades.
But if trend turns back around then I'll jump back in.

I see people here incessantly whining about the spread,spending hours calculating but...who gives a dam?? The market is paying for it,not me.

At the end of the day it's ROI that matters-if it costs me some pips to do so thats OK.

Add to winners and dump losers with extreme prejudice.

Don't work for your money,make it work for you.
The harder I work,the luckier I get.
  • #18
  • Mar 7, 2009 1:07pm Mar 7, 2009 1:07pm
Where the hell can I rent a mule?
  • #19
  • Mar 7, 2009 5:20pm Mar 7, 2009 5:20pm
Quote
Where the hell can I rent a mule?

Mule store.
  • #20
  • Last Post: Mar 7, 2009 10:39pm Mar 7, 2009 10:39pm
Some less experienced might think this is averaging down, but it is not, because I am just scaling in using a established risk for the entire package and also knowing that I am never smarter than the market, so I must be ready with my entries to be adaptable.


This is Actually what I was doing In my demo journal thread. I found that trying to be accurate with my entries and giving no breathing room was leading to many stop-outs, this is what plagued my first 2 years of trading.
Although I did consider what I was doing averaging down, I did have a pre-determined level where I would consider my trade dead in the water and cut the losses and a planned maximum I would commit to a trade.

Great posts and a very valuable concept. Crystal clear to me.

In regards to Leon, man you need to grow a thicker skin and stop wearing your emotions out on your sleeve or you will never make it in this business.

I posted on this thread because I was interested In what Bemac was saying, I then made a joke about him being harder to understand than usual and followed on by saying It may be the fact that i was tired that I couldnt understand. I said all this because It appeared he was being purposely odd in his style of writing.

I came to this thread with 100% intention of joining the discussion. I just dont understand how I was asking for anything on a plate? That is not my personality in the slightest and it offended me that Bemac said so.

It is obvious Bemac has forgotten more about trading than you have ever known.

Very Likely at this point. But he's going to have to keep learning If its going to stay like that.

It would be very wise to aquire him as a friend rather than confront him as an adversary. Play the game smart man. Do what is in your long term interest, not in your immediate rage.

I dont see any fun In making an Internet enemy, the prospect sounds quite sad tbh.

Regards,
Leon
Living the adventure in my head.
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