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The College Trader

  • #461
  • Jul 27, 2010 2:50pm Jul 27, 2010 2:50pm
sometimes i wish i lived in europe...these american afternoon sessions are slowwww
In hoc signo vinces
  • #462
  • Jul 27, 2010 3:13pm Jul 27, 2010 3:13pm
Quoting okcowboy13
sometimes i wish i lived in europe...these american afternoon sessions are slowwww
tell me about it ....
  • #463
  • Jul 27, 2010 3:25pm Jul 27, 2010 3:25pm
Quoting mfoste1
hey man, Im thinking a lot of these dudes arent trading live bc the strategies theyre talking about( no stops ) just isnt believable.....trust me if ur trading with your hard earned capital, anyone knows you use stops lol and they arent over 100 pips! unless ur trading what? 1cent, 10 cent per pip?

if it walks like a duck, acts like a duck it probably aint a chicken!
I know some professional scalpers that close their trades manually, but I'm sure you know better.
  • #464
  • Jul 27, 2010 3:33pm Jul 27, 2010 3:33pm
Quoting Marv
I know some professional scalpers that close their trades manually, but I'm sure you know better.
im just trying to help you guys lol........as a retail trader with small capital you should always use stops.....if you dont use them, YOU WILL NOT LAST LONG. Im not trying to be a dick or anything, this is just reality dude. Were literally guppies swimming with sharks...you gotta protect yourself somehow.
  • #465
  • Jul 27, 2010 4:01pm Jul 27, 2010 4:01pm
Quoting Br_pippin
WOOWWWWW i have missed a lot and several of you definitely have different types of strategies and obviously put a lot of work into each and every trade.


I like to keep it simple. Be careful with the math on this. The moment you are calculating how you wont get a margin call on large dd's you have to rethink what your spending your time on and why you are on the wrong side of that trade lawl. xD



nice foste. ive been doing much better and making money. almost back up to even. and i was down about 20%. Sqrt(-1) do you trade live?
Yeah I trade live, just opened up 1-2 weeks ago after being dormant for about 4 years. Making small trades keeps me where I want to be, I like the risk aversion. Only up 1% so far because I made a stupid buy trade and decided to kill it when it hit a low even though I knew it was going to run back up (sometimes it's what has to be done when I work 8 hours during volatile periods).
  • #466
  • Jul 27, 2010 4:11pm Jul 27, 2010 4:11pm
Quoting mfoste1
I make entries based on 4h charts, so my trade duration can be anywhere from a few days to a couple weeks( while adding to the position).....like i said ill never let a trade go more than 100 pips against me, therefore my wins are generally 300-400 pips....i dont have fxbook but thanks for telling me about it, i think ill create one.
You make YOUR entries based on 4h charts. Bravo - that doesn't mean that yours is the only way to trade. You give your stops to your broker and others have mental stops (and apparently they like to stare at their screen for hours on end). You have randomly decided 100 pips is right for you...not 80, not 120, but exactly 100 (you never did mention how you came to that particular number). I'm glad you've found a way that you're comfortable trading, I'm not sure why that gives you any particular insight into the size of other people's trading accounts...

300-400 pips you say @ $1-$100/pip... That's alot of beer money my friend. Enjoy college. Why bother going to wall street w/ those types of numbers...?
  • #467
  • Jul 27, 2010 4:22pm Jul 27, 2010 4:22pm
Quoting mfoste1
if you dont use them, YOU WILL NOT LAST LONG.
No.

Quoting mfoste1
you gotta protect yourself somehow.
Correct. Personally, I use very precise risk management and position sizing rules.


http://www.fileden.com/files/2008/9/...tion_sizer.png

I just enter the balance, spread, risk (% and pips), and I automatically get my position size, pip value, and pip loss before margin call.
After the trade is over, I enter the reward (in pips).
  • #468
  • Jul 27, 2010 4:24pm Jul 27, 2010 4:24pm
Quoting InfinitySL
You make YOUR entries based on 4h charts. Bravo - that doesn't mean that yours is the only way to trade....
never said it wasnt my friend......I dont just throw on a 100 pip stop, 100 is the max stop i will have.....i set them accordingly to sr levels, they could be 20 or they could be 80 for a trade.....all im saying is, i have no idea why anyone would let a position go more than 100 pips against them.....i say 100 pips because its the round number.....and thats generally where the strongest levels of sr happen to be ie. 1.29, 1.30 etc. So thats why i say, if you need more than 100 pips to get a trade in the black, youve obviously done something wrong.

I trade $1-3 per pip depending on my confidence in the trade I'm taking....this is small potatoes compared to running a book at an institution.....
  • #469
  • Jul 27, 2010 4:31pm Jul 27, 2010 4:31pm
Quoting Marv
No.



Correct. Personally, I use very precise risk management and position sizing rules.


http://www.fileden.com/files/2008/9/...tion_sizer.png
ok dude you know.....

whats that? is that supposed to be your demo acct statement? that doesnt prove anything.......wow trading over 1.5 lots with only 5k equity, that is NOT proper risk management......who are you kidding?! 1 standard eur/usd lot is $1600 so thats risking over 25% of your account balance on that trade alone with no stop! price could only move 118 pips against you and you would have gotten a margin call lol ...cmon dude
  • #470
  • Jul 27, 2010 4:33pm Jul 27, 2010 4:33pm
well, i used to be at uni...
  • #471
  • Jul 27, 2010 4:44pm Jul 27, 2010 4:44pm
Quoting mfoste1
1 standard eur/usd lot is $1600 so thats risking over 25% of your account balance on that trade alone with no stop!
What?...

Quoting mfoste1
whats that? is that supposed to be your demo acct statement? that doesnt prove anything
lol. No, it was obviously just a preview of my position sizing/risk management spreadsheet. You claimed that just because I don't use stop loss orders I don't have risk management. I'm telling you you're wrong.

Moving on.
  • #472
  • Jul 27, 2010 4:46pm Jul 27, 2010 4:46pm
Quoting Marv
lol. No, it was obviously just a preview of my position sizing/risk management spreadsheet. You claimed that just because I don't use stop loss orders I don't have risk management. I'm telling you you're wrong.

Moving on.
if your trading 1.59 lots with only 5k thats not risk management, thats overleveraging......your using over 25% of your acct balance for a position.....thats a no no.
  • #473
  • Jul 27, 2010 4:56pm Jul 27, 2010 4:56pm
Quoting mfoste1
if your trading 1.59 lots with only 5k thats not risk management, thats overleveraging......your using over 25% of your acct balance for a position.....thats a no no.
Wrong. Look again at the spreadsheet (number of risked pips and pip value, in relation to the balance). I was only risking 5% on the position.

And yes, I do use stops, but they're manual (one bonus I get is that I never have to worry about MM brokers chasing stops). The point is: I never risk more than the % I'm supposed to risk on a position. My approach to Stops/Targets is very fluid and dynamic, it reflects my belief that every moment in the market is unique. It's quite simple, but you fail to understand it because of the way you have been programmed to approach the market in with most things you read/learn in books and online.
  • #474
  • Jul 27, 2010 5:10pm Jul 27, 2010 5:10pm
Quoting Marv
Wrong. Look again at the spreadsheet (number of risked pips and pip value, in relation to the balance). I was only risking 5% on the position.

And yes, I do use stops, but they're manual (one bonus I get is that I never have to worry about MM brokers chasing stops). The point is: I never risk more than the % I'm supposed to risk on a position. My approach to Stops/Targets is very fluid and dynamic, it reflects my belief that every moment in the market is unique. It's quite simple, but you fail to understand it because of the way you have been...
if your acct balance is 5k and you are trading 1 standard lot assuming 100:1 lev that lot cost you $1600 you are risking over a quarter of your acct.......remeber that you are not using any stops........again, im not trying to be a dick but your risk management is non existent......

i tried to help you....this risk you are taking is outrageous.....brokers arent chasing your stops, unless youre trading through some bucketshop thats takes the other side of your trade.....very fluid and dynamic? WTF does this mean? very unique and it reflects my belief? WTF are you talking about?! YOUR TRADING WITHOUT STOPS! YOU ARE RISKING 25% OF YOUR ACCT BALANCE ON YOUR TRADES......theres nothing left to say.....youll understand me when you blow your acct up. Im here to offer my help to new traders that are willing to learn who dont think they know it all.
  • #475
  • Jul 27, 2010 5:22pm Jul 27, 2010 5:22pm
Quoting mfoste1
if your acct balance is 5k and you are trading 1 standard lot assuming 100:1 lev that lot cost you $1600 you are risking over a quarter of your acct
My leverage is 50:1. I use Oanda so I don't size my trades in lots but in number of units.

You're wrong again. I'm risking no more than 5% of my account.

Quoting mfoste1
Im here to offer my help to new traders that are willing to learn who dont think they know it all.
I lol'd.

Good luck with your trading.

  • #476
  • Jul 27, 2010 5:29pm Jul 27, 2010 5:29pm
Quoting Marv
My leverage is 50:1. I use Oanda so I don't size my trades in lots but in number of units.

You're wrong again. I'm risking no more than 5% of my account.



lol!

Good luck with your trading.

ohh man thats even worse........so ur using over 50% of your account balance on a trade! whoaaa

159k units is 1.59 lots.......my friend you are the one who's wrong....how the hell do you figure ur only using 5% of your account?!
  • #477
  • Jul 27, 2010 6:23pm Jul 27, 2010 6:23pm
Quoting mfoste1
ohh man thats even worse........so ur using over 50% of your account balance on a trade! whoaaa

159k units is 1.59 lots.......my friend you are the one who's wrong....how the hell do you figure ur only using 5% of your account?!
*sigh*

159k units = 1.59 lots = $15.9 per pip.

Balance: 5,083
Risk: 15 pips + 1 pip spread = 16 pips

$15.9 per pip * 16 risked pips = $254.4 maximum risk on the trade

$254.4 = 5% of $5,083

Margin Call: I need to lose 118 pips on this trade to get a margin call. This won't happen because I'm only risking 16 pips. Once I lose 16 pips I exit the trade.
  • #478
  • Edited 7:48pm Jul 27, 2010 7:28pm | Edited 7:48pm
Quoting Marv
*sigh*

159k units = 1.59 lots = $15.9 per pip.

Balance: 5,083
Risk: 15 pips + 1 pip spread = 16 pips

$15.9 per pip * 16 risked pips = $254.4 maximum risk on the trade

$254.4 = 5% of $5,083

Margin Call: I need to lose 118 pips on this trade to get a margin call. This won't happen because I'm only risking 16 pips. Once I lose 16 pips I exit the trade.

what dont you understand? you arent using a freaking fixed stop as an exit point! therefore that 5 % acc risk doesnt apply to your situation a mental stop IS NOT A STOP or fixed exit point! welcome to the iggy i tried to help you.......but i guess you already know it all.....
  • #479
  • Jul 27, 2010 7:39pm Jul 27, 2010 7:39pm
Quoting mfoste1
what dont you understand? you arent using a freaking fixed stop as an exit point! a mental stop IS NOT A STOP or fixed exit point! welcome to the iggy i tried to help you.......but i guess you already know it all.....
If you're exiting at 16 pips with a hard or mental stop, what difference does it make?
  • #480
  • Jul 27, 2010 7:47pm Jul 27, 2010 7:47pm
Quoting lolpie
If you're exiting at 16 pips with a hard or mental stop, what difference does it make?
im not going into why mental stops dont work long term.........im through with that guy, he'll find out why he needs to use a hard stop. If hes even trading live which i highly doubt he is......
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