DislikedI tried to tell you this yesterday.. but you said you know it already.. so no big deal lesson learned in the hard way..
shake it off and get ready for the next ride..Ignored
Failure is the mother of success: learn from 'her'
The System II (Yes with irony)
- #5,125
- Sep 10, 2009 1:20am Sep 10, 2009 1:20am
Good morning from the UK. Thanks for a great day yesterday Fx - slept really badly thinking about it all - so simple, like a golf swing, its the player's mind that interferes. Chart looks fertile right now.
$urvive, Pre$erve &
RESPECT THE TEACHER 
- #5,126
- Sep 10, 2009 1:23am Sep 10, 2009 1:23am
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Survive and Preserve
- #5,128
- Sep 10, 2009 1:26am Sep 10, 2009 1:26am
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Survive and Preserve
- #5,131
- Sep 10, 2009 1:29am Sep 10, 2009 1:29am
- | Membership Revoked | Joined Feb 2009 | 2,903 Posts
Good morning from the UK. Thanks for a great day yesterday Fx - slept really badly thinking about it all - so simple, like a golf swing, its the player's mind that interferes. Chart looks fertile right now.
are you golfer.. i suck at golf.. to slow for me..
- #5,132
- Sep 10, 2009 1:30am Sep 10, 2009 1:30am
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Survive and Preserve
- #5,135
- Sep 10, 2009 1:38am Sep 10, 2009 1:38am
- | Membership Revoked | Joined Feb 2009 | 2,903 Posts
normally guys i would bail out when i see such stalling time.. but in this case i got RR in my favor.. not much am i risking to catcha bullish runner.. its just commonsense.. riking 11 to make atleast 21, who knows maybe 100.. it does happen 
.. rather often these days..
but you can exit for a modest loss and get in again with 123.. thats a good way too to deal with this.. the only thing is that if it's a short lived swing then you be in a better situation with original entery then higher 123 entery.. you may bank more or lose less..
.. rather often these days..but you can exit for a modest loss and get in again with 123.. thats a good way too to deal with this.. the only thing is that if it's a short lived swing then you be in a better situation with original entery then higher 123 entery.. you may bank more or lose less..
- #5,136
- Sep 10, 2009 1:38am Sep 10, 2009 1:38am
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Not sure how you are position sizing or if what I am doing is correct.
Maybe we can go into that at one point? What you do for positions and how you judge your "load" to take on a trade. Would be good to know your though patterns on that.
Just a note, my post wasnt intended to be cocky or a know it all type post, just saying how I setup a trade prior to doing it. I have a spreadsheet which I update each day with my accont size, my risk per trade(% wise) and then I punch in the SL distance (with spread etc) into to get my size to take on the trade.
That way I always limit my risk to what ever I decided prior to the session and I compound my winnings each day.
Anyways, hope that is right because that is what I have been taught and what I use. Of course I certainly value your thoughts and certiantly will change this if you , feb DX or Mon rekon this is a wrong way to go about trading 
Maybe we can go into that at one point? What you do for positions and how you judge your "load" to take on a trade. Would be good to know your though patterns on that.
Just a note, my post wasnt intended to be cocky or a know it all type post, just saying how I setup a trade prior to doing it. I have a spreadsheet which I update each day with my accont size, my risk per trade(% wise) and then I punch in the SL distance (with spread etc) into to get my size to take on the trade.
That way I always limit my risk to what ever I decided prior to the session and I compound my winnings each day.
Anyways, hope that is right because that is what I have been taught and what I use. Of course I certainly value your thoughts
and certiantly will change this if you , feb DX or Mon rekon this is a wrong way to go about trading 11 pips means nothing to me, its the % on those pips.
I change my size per trade I take based on the SL in pips, so every trade is 1% regardless of how many pips it is.
Survive and Preserve
- #5,138
- Sep 10, 2009 1:42am Sep 10, 2009 1:42am
- | Joined Feb 2008 | Status: Zombie Trader | 1,406 Posts
Remember what I said about broker analytics? I said they are good "after" the fact.
I am not a broker by the way, and YES I certaintly welcome your thoughts that is why I asked it
Actually, that makes a lot more sense, because logically I changed it every trade it would go like this
lose 1% on trade 1
make 1% on trade 2
however, I am now still under breakeven due to the risk taken on trade 2 is less then the risk of trade 1
Therefore, your idea is far better and from today, I will adopt it
PS, who said I was a broker or an analyst? I said I worked for one, never said I was one.
Thanks again
I said they are good "after" the fact.I am not a broker by the way, and YES I certaintly welcome your thoughts that is why I asked it
Actually, that makes a lot more sense, because logically I changed it every trade it would go like this
lose 1% on trade 1
make 1% on trade 2
however, I am now still under breakeven due to the risk taken on trade 2 is less then the risk of trade 1
Therefore, your idea is far better and from today, I will adopt it
PS, who said I was a broker or an analyst? I said I worked for one, never said I was one.
Thanks again
thats your problem right there..
if you want my advise.. set you lot size in the begining of the month or week and stay with it till ends.. then adjust it for the following based on growth of your account..
with your way of MM.. you may end up with a runner at your lowest lot size and your 4 other losers with your largest lot size..
this is one way to deal with the emotion part of this beast..
only my humble advise.. of course your the bigtime broker anaylisits..
Survive and Preserve
