Joined Sep 2006
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Status: Hors non numero nisi servitas
|795 Posts
This is the hard bit taking orders off for NFP.I NEVER trade NFP why? anything can happen,trading platforms go slow,spread widen sometimes double,intraday gaps,tickets get filled early or late take profits dont fill.And thats all got nothing to do with your trade.
I just saw my first short gbp swiss do its thing.AAAAHHHHHHHH
Also, I am very interested in MM. And what is the ratio between the size of Your Ws and Ls? I mean in %.
For example my avarage W is +2% (the took profits together, compared to the capital before the trade), and my avarage L is 2,1%.
THX, M. Poirot
Joined Sep 2006
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Status: Hors non numero nisi servitas
|795 Posts
Yes the difficult thing is stop size.It always changes on all trades.It could be 300.150.500 so i get more or less power per pip.This has a radical effect on getting the win/loss ratio.And i took advice.What came back was to over time even it out as an average stop size which is almost a nonsense as the stop always changes but it came out at 300 pips average over 1 then 2 years.Then over the same time the same for the wins which gave an average win which is about 300 pips aswell so on average i get a 1:1.My average loss was 75 pips.Then on a monthly basis i counted the winners v lossers and break evens at the end of the 1 st year 1 had 8 out of 10 win or go Even 2 lose.Then i did it for another year this time live.It was about the same.So i was good to go with my life savings ect.Now i have a larger account i just go break even or eat as its worth it in cash.Stops have been on average bigger of late but i got more capital behind it so its swing and roundabouts.I have my averages but its always changes as market does its mostly about the confidence.Like over th last 5 months,stops are bigger,orders are down, break evens up, lossers down,smaller wins,more capital is this the begining of a new yeild curve looks like it.It still looks like a 45 degree curve but different components.So its a living curve just like the markets but without it you dont know where you are.
1,My average loss was 75 pips.Then on a monthly basis i counted the winners v lossers and break evens at the end of the 1 st year 1 had 8 out of 10 win or go Even 2 lose.
2, its a living curve just like the markets but without it you dont know where you are.
Ignored
1, As You take partial profits, it does not make sense to tell the winner size in pips, but did You tried to compare Your winner 's sizes with the losers sizes? For example: before an actuall trade, You have 100% capital, risk 2,5%, and gain on average x% when win, and loss average y% when take a loss. Now, I am curious about Your x and y?
Joined Sep 2006
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Status: Hors non numero nisi servitas
|795 Posts
Bonjour!
Your interested in my x and y o i say steady on ole bean lol
Because of the constantly changing perameters this is as far as it goes im afraid and one has to count the pips as what else do we gain from our labor?How else can we find an average if we dont count our lossers in pips its only after a long time and lots of trades that we can move into %.Dont forget a yeild curve is a lagging indicator but i recommend strongly that you do the same calculations in order to allocate your risk profile in line with your w/r ratio.
The management and exit stratergey i have put on top of these calculations and change in accordance to the cycle of the markets.For example in a tight range bound market i will be more inclined to take full profit at a target than in a trending market and i have found that going to breakeven when she hits 2nd target may in time cost me a bit of profit but the truth is i cant deal with a position sitting in the negative and when you have multiple trades its is important that you maintian the correct market risk over the whole order book so a selection of breakeven and profit taking keeps the fund live but not exposed.Its fine when its one trade at a time but i will fill my order book even up to 12 pending orders when markets ready and have to manage not just the individual trades but my account as a whole.I wish those day would return.
So there we have it my French friend i cannot give you anymore answers to your questions.I do hope this helps....G
Joined Sep 2006
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Status: Hors non numero nisi servitas
|795 Posts
AS i peak out of my bunker to view the terrain after the NFP slaughter i see the corpse of my 1st gbpswiss short eaten and squashed.Then to my horror in the distance as the mist clears i see the 2nd gbp swiss had a 2nd target on 2 bits and a break even on the 3 rd,i look up a yell "TEACHER"....."NO" but there is no reponse no help just the close of the friday bar and the shatterd dream that was the gbpswiss short assult.Please join me in a moment of silence as we remember our trades.......thankyou.
Your interested in my x and y o i say steady on ole bean lol
Because of the constantly changing perameters this is as far as it goes im afraid and one has to count the pips as what else do we gain from our labor?1, How else can we find an average if we dont count our lossers in pips its only after a long time and lots of trades that we can move into %.Dont forget a yeild curve is a lagging indicator but
2, i recommend strongly that you do the same calculations in order to allocate your risk profile in line with your w/r ratio.
Ignored
1, pips not count alone, just with the info how much is risked(easier part to count), and how much is gained (need more count because of take profits)
so I have method to measure these. I had been curious, wheather anybody else use (found out) this method.
2, Thank You for Your kind words, but be calm, my risk profile is very well calculated.
3, You told, You changed some losses to BE. You choosed to move Your SL to BE, or You choosed to take some profit and move to BE as the "whole" trade is BE, now?(+80 half out, other half SL move to -80?)
Nice weekend,
M. Poirot
Ps.: M. Poirot was from Belgian, but it s no problem, usually everybody thought he was French.
Joined Sep 2006
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Status: Hors non numero nisi servitas
|795 Posts
I am ssssoooooo sorry i called a Belgian French,thats as bad as calling a French man British or a Ducth man German.I love Stella artois and not the cans but the real stuff from the barrel tasty.
In answer to your question i do a bit of all as i see fit in context to the trade i go with the flow.Sometimes its better sometimes its worst but all the time i dont lose.Lets not forget thats the most important thing.I dont like the price to be out of my control and into a "i hope so" unless im locked off.
Come on your turn tell me everything about your system.
For our brother and sisters of the new world and around the world let me just add its like a Canadian being called a Yanky or an Argentinian being called a Brazilian.(What do you call a citizen of the U.S.A not an American as America is a continent? North American?no thats got Canada in?I know an Obamian, no you may be a republican i really wanna know)
1,Come on your turn tell me everything about your system.
2,(What do you call a citizen of the U.S.A not an American as America is a continent? North American?no thats got Canada in?I know an Obamian, no you may be a republican i really wanna know)
Ignored
1, I try to go with the flow, and try to pick the best matching tool to the situation.
Whats your interest in charting? Are u demo,live or looking?
Id love to know G
Ignored
Hey Baba G!
I am a student of Strat at the moment!!
I recently learned to trade and the first method I learned was moving averages and MA crosses using CCI's as a guiide. I was (still am) in a live room, trading on the 15min / 5min charts and I found it pretty stressful. I did really well on pip count but only if I was on demo or trading minimum stakes in real money. As soon as I put any real money on the trade I traded really badly (stops to tight, did not let the trade run) and then worse, I ran into the overtrading thing, because I was sitting there too long all day looking at low timeframes.
I'm still trading real money, small stakes and trying to trade off the daily & 4hr chart and only looking lower occasionally to see what is going on (and not for setups). Once I have mastered that I hope to put a decent amount of money into my account and be on my way.
Anyway you and Strat and the guys like you are very inspiring.
Have a great weekend
Nicola
AS i peak out of my bunker to view the terrain after the NFP slaughter i see the corpse of my 1st gbpswiss short eaten and squashed.Then to my horror in the distance as the mist clears i see the 2nd gbp swiss had a 2nd target on 2 bits and a break even on the 3 rd,i look up a yell "TEACHER"....."NO" but there is no reponse no help just the close of the friday bar and the shatterd dream that was the gbpswiss short assult.Please join me in a moment of silence as we remember our trades.......thankyou.
Joined Sep 2006
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Status: Hors non numero nisi servitas
|795 Posts
[quote=elitejets;2586674]Hey Baba G!
Well dont stop, sounds like you have clocked up quite a bit of trigger time.I only use the lowers to manage my trades but i have seen alot of 1 and 4 hour oppotunities when ive been watching my trades.To be honest theres plenty of booty on the dailys for me and i just cant be botherd really with the stress.
Swing by any time......G
Joined Sep 2006
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Status: Hors non numero nisi servitas
|795 Posts
Just like London buses nothing for ages then 4 at once!!
i had a cable daily and monthly and gbp swiss monthly and weekly all engaged within an hour or so and hundreds of pips of profit but that was not the best thing that happend as the trades just ran to plan the best thing was my principle came by the studio and watched the whole thing over my shoulder and my apprentice came buy with huge delight to show me his long euro/gbp.
There we were like a big family, running the plan swimming in loot and ive done my month......in a day.Still got a little bit left on but there free trades ridin.The reward for steadfast patience for all the team.There is no satisfaction in trading,satisfaction comes from the joy i see in others as there is always more pips to be had and that whole NFP thing greatly damaged the proft and last mondays break of the channel break even on gbpswiss also reduced the profit but thats trading for you.We lost a few battles but we won the war with no losses all the troops came home to Blighty and i never exceeded my % risk exposure and i may have secured somemore capital as my principle got to see first hand how we were never at risk.So its holiday here at Tower 2 im gonna go to my favorite biodynamic food shop here in the Ashdown forest where i live and go for a walk with my son and our staffordshire bull terrier Tycie.Hopefully the price will fall to infinity but i doubt it soon enough the wait will start again but for now its time to hand out Palm dors make speeches and thank The james 16 group forex factory and a big shout out to strat who i bet was playing his rock n roll all night long!!!!! G
Joined Sep 2006
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Status: Hors non numero nisi servitas
|795 Posts
I spy with my little eye an Inside bar on cable.If that closes like that its gonna be hard not to put a ticket on that bad boy the qustion is more why wouldnt you sell it or whos buying cable right now.?
