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Trading Successfully

  • #21
  • Nov 22, 2009 8:18am Nov 22, 2009 8:18am
Quoting endroute
By stating that his is a myth you are stating that trading with the trend is bad. I would say this sounds like the case of a classic head injury and you should seek immediate medical attention.
Bad is not a word that I associate with trading. I would be inclined to associate bad with your post to me. One's trading is either profitable or unprofitable. Trend is a myth and exist only in the mind of the trader. If trading with the trend was profitable they why do 9 out of 10 traders lose? Trend is relative based on the starting point. Jacko has a simple method of defining trend but it is still relative.
  • #22
  • Nov 22, 2009 8:33am Nov 22, 2009 8:33am
Quoting xtraction
Bad is not a word that I associate with trading. I would be inclined to associate bad with your post to me. One's trading is either profitable or unprofitable. Trend is a myth and exist only in the mind of the trader. If trading with the trend was profitable they why do 9 out of 10 traders lose? Trend is relative based on the starting point. Jacko has a simple method of defining trend but it is still relative.
price either trends or ranges its that simple, I really could care less about how jacko defines a trend, if you can't look at a chart and see if it is in a trend or a range without having to rely on someone else's method for defining a trend you are going to have a hard time trading.
  • #23
  • Nov 22, 2009 8:36am Nov 22, 2009 8:36am
Sauron,

If it is working for you great & full steam ahead, but I agree with Jacko....where is the proof. I can understand your not willing to share, but it would help all to understand. The trend is your friend as you will find if you follow the Jacko thread.

Craig......you raise a valid point.

What works for one, may not work for the next & that is part of trading.....finding what works for you.

Just my views & nothing more.
  • #24
  • Nov 22, 2009 9:10am Nov 22, 2009 9:10am
When talking about "trend", one has to consider the Time Frame one's trading.
Take an example. If you are a long term trader, you might want to look at weekly or even monthly TF only. You'll probably enter trades very seldom, buying only when prices look "cheap" if you believe the currency will appreciate long term, and book your profits at the end of the year for example. Of course. price will not go up in a straight line and will fluctuate throughout the year but you couldn't care less since you have good Money Management, your positions are properly sized and you can sustain all the drawdown/pullbacks that inevitably occur.
On the other hand, if u r a "swinger" or a daytrader, you'll try to trade all the medium and short term "trends","counter-trends" and "ranges" that show up in the long term trend. If you are good (and lucky!), you'll probably be able to milk a lot more pips than a long-term trader, but you'll still have to observe proper Money and Risks management .
So "trading with the trend" is not a myth but there is not just one way to trade and it's up to the individual trader to pick a style that fits his/her personality (and account size).
  • #25
  • Nov 22, 2009 1:30pm Nov 22, 2009 1:30pm
Quoting Sauron
You can use any number of pips as long as the sum of them is constant.

..........
This is what I wanted to hear.

However, before saying you are 100% right, I am sure when you say "constant sum" you mean 1% (or any definite percentage) of the "latest" account balance. Becuase I think whoever of these two trader is able to compound first and more frequently would have an edge over the other. That is why results get more evident over a bigger sample of population than small, like you mentioned in your post i.e. 5000 trades.

Thanks for sharing this concept.
The Thief of Wall Street
  • #26
  • Nov 24, 2009 12:04am Nov 24, 2009 12:04am
Quoting Sauron
You can use any number of pips as long as the sum of them is constant.

One example would be:
They both win 1000 pips after 100 trades. They have the same stop loss, 30 pips.

Trader A has a system which wins 30% of the time and loses 70% of the time.
He wins 100 pips per trade and loses 30 pips per trade.

Trader B has a system which wins 70% of the time and loses 30% of the time.
He wins 1900/70 = 27 pips per trade and loses 30 pips per trade.

.
I don't get how this fits with your other post

Quote
cutting winnings short and let your losses run will bring more profit


Are they related to each other.
  • #27
  • Nov 24, 2009 1:51am Nov 24, 2009 1:51am
It is hard to design any trading system, because it will work good few days and then in single trade it will make such a big losses. but still i am designing one.
  • #28
  • Last Post: Nov 24, 2009 9:35pm Nov 24, 2009 9:35pm
Kaka500 keep working on it. I really don't know what type of system you are trading but if your doing well for a few days and then suffering large losses don't allow such large losses on those losing days. And try to make your winners larger. Also try to find different ways to manage your trades when they are open, many traders I feel overlook this part and only concentrate on the open and/or the exit. If you would like to share the basic concept on here, myself or someone else i'm sure would be more than happy to give you some guidance.
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