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  • #168,381
  • Dec 3, 2009 10:48pm Dec 3, 2009 10:48pm
Well, Thanks again to all! that was very useful.
Go to bed now, flight to Miami in few hours.

Wish you profitable trading!
  • #168,382
  • Dec 3, 2009 10:50pm Dec 3, 2009 10:50pm
1 mini pr 5k?
Is that 0.1 lot if u have 5000 dollars in equity?
I started trading 0.1 lot when i had 1000 dollars, then 0.2 lot when i had 2000 dollars and so forth. Is that too high of a risk?
  • #168,383
  • Dec 3, 2009 10:54pm Dec 3, 2009 10:54pm
Quoting alvelino
1 mini pr 5k?
Is that 0.1 lot if u have 5000 dollars in equity?
I started trading 0.1 lot when i had 1000 dollars, then 0.2 lot when i had 2000 dollars and so forth. Is that too high of a risk?
You should consider lots and SL two different variables.
If you use big lots you need tight SL in order to have the same risk factor.
This means more precises entries but higher gains.
If you use small lots you can allow bigger SL, you can be less maniac in the entries but also less gain.
  • #168,384
  • Dec 3, 2009 10:55pm Dec 3, 2009 10:55pm
have a look at the my USD chart.

Its interesting....with inverted head and shoulders which normally breaks and pushes higher. Looks like we are going to have another negative day on the US markets tomorrow.
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  • #168,385
  • Edited 11:08pm Dec 3, 2009 10:56pm | Edited 11:08pm
Quoting alvelino
1 mini pr 5k?
Is that 0.1 lot if u have 5000 dollars in equity?
I started trading 0.1 lot when i had 1000 dollars, then 0.2 lot when i had 2000 dollars and so forth. Is that too high of a risk?
This appears way too high. I am sure your risk per trade is more than 1% and total amount of collective risk in many trades open at a given point of time is beyond reasonable limit.

What is your risk appetite per trade and collective risk on trades running at a time in % terms?

ps. It also depends on size of the moves you are playing, but success:failure ratio is not encouraging when playing smaller moves and therefore risk appetite (risk you are willing to take) remains a bit high.
The Thief of Wall Street
  • #168,386
  • Dec 3, 2009 10:57pm Dec 3, 2009 10:57pm
Quoting jesterx
Looks like we are going to have another negative day on the US markets tomorrow.
remember that tomorrow is also Friday... and charts go crazy in Friday.
Not sure about the market... why?
  • #168,387
  • Dec 3, 2009 11:03pm Dec 3, 2009 11:03pm
Quoting Chicky
This appears way too high. I am sure your risk per trade is more than 1% and total amount of collective risk in many trades open at a given point of time is beyond reasonable limit.

What is your risk appetite per trade and collective risk on trades running at a time in % terms?
I like high risk. Im not sure what u mean with collective risk on trades running at a time in % terms.

So i should maybe decrease my lot to 0.1 @ 5000 dollar equity?

Right now i currently have 6000 dollars in equity and i entered a trade with 0.6 lot @ 1.50566, no TP, SL at 1.50300. This is too high of a risk if i understand correctly?
  • #168,388
  • Dec 3, 2009 11:09pm Dec 3, 2009 11:09pm
Quoting alvelino
I like high risk. Im not sure what u mean with collective risk on trades running at a time in % terms.

So i should maybe decrease my lot to 0.1 @ 5000 dollar equity?

Right now i currently have 6000 dollars in equity and i entered a trade with 0.6 lot @ 1.50566, no TP, SL at 1.50300. This is too high of a risk if i understand correctly?

.1 lot = $1 per pip? your stop loss would be 26.6 pips at $6 a pip for $159.6 which is about 2.6% of 6000
  • #168,389
  • Dec 3, 2009 11:09pm Dec 3, 2009 11:09pm
Quoting Chicky
This appears way too high. I am sure your risk per trade is more than 1% and total amount of collective risk in many trades open at a given point of time is beyond reasonable limit.

What is your risk appetite per trade and collective risk on trades running at a time in % terms?
If I am scalping I will go 0.2% of account per pip - with a 5-pip sl - and that's 1% of account risked per trade. I don't scale in on scalps, so that's as high as it goes. Also, that is as aggressive as I ever go with scalping & I will cut that in half or even lower if I am not feeling like I am in easy PA.

Swing trading I am still experimenting with very small subaccounts but there I go more like 0.05% of account per pip with a 20-pip sl for the same 1% of account risked, and I will only scale in if the first or previous trade has been locked in at BE minimum.

I am experimenting in demo with long-term trading (weekly charts & up) using hedging instead of stop-losses but the jury is out there.

With any of these methods I am thinking a couple or three hours a day max. is enough - so there is no reason a person could not carry on a regular job if he wanted or needed to. If I had a good job (which I do) I would not leave it to be a trader, unless I just loved trading (which I don't).
"If The Fool persists in his Folly he will become wise." - William Blake
  • #168,390
  • Dec 3, 2009 11:13pm Dec 3, 2009 11:13pm
Quoting alvelino
I like high risk. Im not sure what u mean with collective risk on trades running at a time in % terms.

So i should maybe decrease my lot to 0.1 @ 5000 dollar equity?

Right now i currently have 6000 dollars in equity and i entered a trade with 0.6 lot @ 1.50566, no TP, SL at 1.50300. This is too high of a risk if i understand correctly?
It depneds on the size of the move. If you lose a trade your loss ideally should not be more than 1%-2% of the account balance. If you lose all open trades your loss ideally should not be more than 10%-15% of the account balance (make sure not all trades are in one direction of the market and for equal number of pips profit/loss).

If your methods is within these limits, I consider it moderate risk (not high not low) for a balance of $5,000 equity operating at 2% leverage.
The Thief of Wall Street
  • #168,391
  • Dec 3, 2009 11:14pm Dec 3, 2009 11:14pm
why fiber didn't move for last 8 hours?
Patience + Discipline =
  • #168,392
  • Dec 3, 2009 11:17pm Dec 3, 2009 11:17pm
Thanks for the input everyone, much appretiated.
  • #168,393
  • Dec 3, 2009 11:22pm Dec 3, 2009 11:22pm
anyone want to understand how I look at risk should read "inside the mind of the trutles" by Curtis Faith
  • #168,394
  • Dec 3, 2009 11:24pm Dec 3, 2009 11:24pm
Quoting Martingale
You should consider lots and SL two different variables.
If you use big lots you need tight SL in order to have the same risk factor.
This means more precises entries but higher gains.
If you use small lots you can allow bigger SL, you can be less maniac in the entries but also less gain.
I agree whole-heartedly, there are calculators out there on the net to help with this equation. I have been around FF for a few months but have just signed up so I do not know if they have one available. They do have some very good forex tools, I would look there first.
  • #168,395
  • Dec 3, 2009 11:27pm Dec 3, 2009 11:27pm
you also have to gauge the confidence in the trade. But try not to risk more than 2% of account at a time.
  • #168,396
  • Dec 3, 2009 11:27pm Dec 3, 2009 11:27pm
Quoting The Fool
If I am scalping I will go 0.2% of account per pip - with a 5-pip sl - and that's 1% of account risked per trade. I don't scale in on scalps, so that's as high as it goes. Also, that is as aggressive as I ever go with scalping & I will cut that in half or even lower if I am not feeling like I am in easy PA.

Swing trading I am still experimenting with very small subaccounts but there I go more like 0.05% of account per pip with a 20-pip sl for the same 1% of account risked, and I will only scale in if the first or previous trade has been locked...
1. You are smart

2. Your success ratio is great (hope it remains constantly like this or improves even further)

3. You being a scalper have the advantage of high trade turnover rate that reduces risks (longer term traders may try to achieve this advantage through diversification)

4. In nutshell, I liked your money management tactics.
The Thief of Wall Street
  • #168,397
  • Dec 3, 2009 11:28pm Dec 3, 2009 11:28pm
Quoting jesterx
have a look at the my USD chart.

Its interesting....with inverted head and shoulders which normally breaks and pushes higher. Looks like we are going to have another negative day on the US markets tomorrow.
So, it should be a positive ? why negative ? why oh why ?
{Promotion Removed}
  • #168,398
  • Dec 3, 2009 11:31pm Dec 3, 2009 11:31pm
1. Overcome fear
2. Remain flexible
3. Take reasoned risks
4. Prepare to be wrong
5. Actively seek reality
6. Respond quickly to change
7. Focus on decisions, not outcomes
  • #168,399
  • Dec 3, 2009 11:33pm Dec 3, 2009 11:33pm
Quoting Jemmy
why fiber didn't move for last 8 hours?
When it moves in about 7 or 8 hours, you would be complaining : WTF happened?. Check FF calendar for Non-Farm-Employment
The Thief of Wall Street
  • #168,400
  • Dec 3, 2009 11:37pm Dec 3, 2009 11:37pm
Quoting earthsmate
So, it should be a positive ? why negative ? why oh why ?
not saying anything for now...just letting the charts do the talking...so far the Dollar is saying it wants to creep up ever so slightly.

we will see...some news lays in the lerch....so like i said anything can happen.
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