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  • #418,181
  • Apr 5, 2011 9:58pm Apr 5, 2011 9:58pm
Quoting PipPipPip
well if you took that short at top you would be in 10+ pips and even more. i guess 10+ pips aint nothing to you right? you trade it big!
I agree with you, i'm just saying you shouldn't let your previous positions affect any new ones. If you have evidence the market is going down, then sell it regardless of your other long positions.
  • #418,182
  • Apr 5, 2011 9:58pm Apr 5, 2011 9:58pm
does anyone take the dollar index into consideration when deciding on a long/short position?
  • #418,183
  • Apr 5, 2011 10:00pm Apr 5, 2011 10:00pm
Quoting thelws
@guys who use % account:

do you scalp with the same position sizing?

i can't seem to wrap my head around the concept of scalping with variable lot sizes. or would you just reduce the position even lower (like maybe 0.2%)
What's your definition of a scalp? 5 pips? 20 pips? 50 pips? What timeframe? Blah, blah, etc...

Here's what you need to know:
What is the win rate of method? What is the potential drawdown? What is the potential R:R? What's your trigger to get in? What's your trigger to get out?

If you have a scalping method that is 80% effective over a significant amount of time (I'm not talking months....I'm talking years), then you would not hesitate to plop 3% down on a trigger.

Your question suggests that scalping is less dependable than trend trading. I would argue it depends entirely on your method.
  • #418,184
  • Apr 5, 2011 10:00pm Apr 5, 2011 10:00pm
I would not take a position without this pair breaking out of 1.425~1.427 range
  • #418,185
  • Apr 5, 2011 10:01pm Apr 5, 2011 10:01pm
Quoting gimmie3pips
does anyone take the dollar index into consideration when deciding on a long/short position?
just as a general guide.

the same way people use the dow or snp as a sort of leader for stocks
  • #418,186
  • Apr 5, 2011 10:01pm Apr 5, 2011 10:01pm
Quoting thelws
@guys who use % account:

do you scalp with the same position sizing?

i can't seem to wrap my head around the concept of scalping with variable lot sizes. or would you just reduce the position even lower (like maybe 0.2%)
You have to change the size, if not, you have to adjust your SL and TP or both...

if you only change 1 of the 3 things you make it harder for yourself...

and also using a fixed 2% is the same as having the biggest position when you re first wrong... kills you even further...
  • #418,187
  • Apr 5, 2011 10:01pm Apr 5, 2011 10:01pm
The price just broke through R1 again (1.4259). If it holds this could be bad news for the shorts (bounce still expected). Next levels are 1.4279 (midpoint R1/R2) and 1.4299 (R2).
  • #418,188
  • Apr 5, 2011 10:04pm Apr 5, 2011 10:04pm
Quoting thelws
just as a general guide.

the same way people use the dow or snp as a sort of leader for stocks
thanks, just learning what to look at aside from technicals
  • #418,189
  • Apr 5, 2011 10:05pm Apr 5, 2011 10:05pm
Quoting Pipwanderer
waiting for 1.4150 to go long....pending long there.
closed my long from 153 @256 103 pips pr0fit bagged.13 hours in this trade..looking for a short signal nothing so far
  • #418,190
  • Apr 5, 2011 10:05pm Apr 5, 2011 10:05pm
Quoting abajiga
Just bought with sl@ 1.4236 and a tp@ 1.4286

happy pippin
I will be looking to double my position with a buy limit@ 1.4245

sl@ 1.4236
Time Is Money
  • #418,191
  • Apr 5, 2011 10:06pm Apr 5, 2011 10:06pm
Quoting PriceVolume
What's your definition of a scalp?...
wow if 80% win rate with 3% size per trade, you would be a billionaire after 1000 or so trades.

I know most scalpers use a fixed lot size as it becomes hard to scalp with variable lot sizes. getting in and out every few minutes makes it hard to calculate lot sizes.
  • #418,192
  • Apr 5, 2011 10:07pm Apr 5, 2011 10:07pm
Quoting Pipwanderer
closed my long from 153 @256 103 pips pr0fit bagged.13 hours in this trade..looking for a short signal nothing so far
Nice, I took profit at 1.4156 from a previous short position.
  • #418,193
  • Apr 5, 2011 10:10pm Apr 5, 2011 10:10pm
Quoting Larseg
You have to change the size, if not, you have to adjust your SL and TP or both...

if you only change 1 of the 3 things you make it harder for yourself...

and also using a fixed 2% is the same as having the biggest position when you re first wrong... kills you even further...
Huh? I don't get it. If you have a $10000 account, and you enter short at 1.4260, PA requires a 10 pip stoploss, and the estimated R:R of the trade is 2:1, then you have 0.2 lots, anticipated $400 profit. You jack your odds up further by moving to BE or scaling out when PA tells you to do so.....
  • #418,194
  • Apr 5, 2011 10:19pm Apr 5, 2011 10:19pm
Quoting thelws
wow if 80% win rate with 3% size per trade, you would be a billionaire after 1000 or so trades.

I know most scalpers use a fixed lot size as it becomes hard to scalp with variable lot sizes. getting in and out every few minutes makes it hard to calculate lot sizes.
Ah....but here's the rub. Not many people can take 3% trades on account sizes, say, $100,000. They are not physchologically prepared, choke, and panic....

Scaling in and out is what I have found works best for me. If I have a trade that I opened at 2%, have booked profit and moved that position to BE (and thus now a free trade), receive another valid entry and enter another 2%.....and on and on until I see something that tells me to close all.
  • #418,195
  • Apr 5, 2011 10:21pm Apr 5, 2011 10:21pm
Quoting PriceVolume
Huh? I don't get it. If you have a $10000 account, and you enter short at 1.4260, PA requires a 10 pip stoploss, and the estimated R:R of the trade is 2:1, then you have 0.2 lots, anticipated $400 profit. You jack your odds up further by moving to BE or scaling out when PA tells you to do so.....
That is different again, if you use BE.

1. price = constant (you cant do anything with).
2. TP&SL = variable (needs to be adjusted).
3. Lot size = variable (needs to be adjusted).

example:
10 000 acc. risking 2% every trade meaning if 1:2 (r/r) and 10&20 pips respectively

lets say you win 2000 then on the next trade you would increase position size since you follow a strict 2% risk on each trade...

Meaning, if a loss then comes along it would be 1200 bucks and not the normal 1000 if you were plateau trading (increasing lot size after a new plateau is reached).

Not saying risking 2k on a 10k acc is smart but it shows easier how it affects the outcome...

same as with the spread with a small 10 pip aim would steal another 2 pips from you.... on every single trade...

all adds up...
  • #418,196
  • Apr 5, 2011 10:21pm Apr 5, 2011 10:21pm
Quoting Kowalczyk
The price just broke through R1 again (1.4259). If it holds this could be bad news for the shorts (bounce still expected). Next levels are 1.4279 (midpoint R1/R2) and 1.4299 (R2).
We're defiantly going lower. I'm short @ 1.42578. TP @ 1.4206. SL @ 1.4269.
  • #418,197
  • Apr 5, 2011 10:21pm Apr 5, 2011 10:21pm
Got my print on silver and booked. Now waiting for the next scheduled beat-down to add....
  • #418,198
  • Apr 5, 2011 10:23pm Apr 5, 2011 10:23pm
Quoting thelws
side discussion:

how many of you here trade with variable lot sizes based on a % value of your account

vs

fixed lot sizes
I trade .01 lot size for every 50$ that I have as my total account balance.
  • #418,199
  • Apr 5, 2011 10:25pm Apr 5, 2011 10:25pm
i will have to recalibrate with a newer high today.. but w/o one im looking for 4225.6 #1 bear atm (invalid with newer high)...

in sequence the next st bull levels are 4278.8 then/or 4294.1 both of these levels are on a bigger charts. one on the 2008 predictive the other the bull swing posted a while back.
those who can, do. those who cant, talk about those who can
  • #418,200
  • Apr 5, 2011 10:26pm Apr 5, 2011 10:26pm
Quoting Larseg
That is different again, if you use BE.

1. price = constant (you cant do anything with).
2. TP&SL = variable (needs to be adjusted).
3. Lot size = variable (needs to be adjusted).

example:
10 000 acc. risking 2% every trade meaning if 1:2 (r/r) and 10&20 pips respectively

lets say you win 2000 then on the next trade you would increase position size since you follow a strict 2% risk on each trade...

Meaning, if a loss then comes along it would be 1200 bucks and not the normal 1000 if you were plateau trading (increasing lot size after a...
I think I see where you're coming from. An appropriate edge nullifies the problem with plateaus, as if you approach it from a risk of ruin angle, the black swans are never going to swarm enough to sufficiently mitigate the edge. Now, as for the fixed odds, I would completely agree, particularly about the spread. Targets and stoplosses should always be based on PA, not some arbitrary number. This means that at times you will risk 2% for 4%, sometimes 2% for 6%, sometimes 2% for 10%. The only exception to this would be the use of systems that use statistically significant values (think ATR, etc.) in their triggers.
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