- #3,045
- May 18, 2011 9:37am May 18, 2011 9:37am
are we over trading???
Dont worry I know the answer to that
- #3,048
- May 18, 2011 9:49am May 18, 2011 9:49am
QUestion for you guys:
Does anyone have or know of an indicator of some sort that attaches to your chart and either tells you or marks the level of your biggest drawdown during a trade?? or can anyone make one??
Could be helful if trying to tighten our stops and raise the RR.
I know I can easily scroll back on the chart and find out, but would be much easier having this when in multiple trades and for recording trades.
I currently risk 2% per trade. So i set my max stop loss at 50pips on 1 hr chart trading now 0.05 lots. On my daily I trade 0.01 lots with 100pip stop. So far I have never hit a stop, I only manually closed trades when I thought they were turning against me or I didn't set up correctly. I guess my max drawdown on 1 hr chart has been about 25 pips.
I don't know sorry. Would be a good idea though.
So far I have never hit a stop, I only manually closed trades when I thought they were turning against me or I didn't set up correctly. I guess my max drawdown on 1 hr chart has been about 25 pips.
NOTE THE RESISTANCE I SOMEHOW MISSED ON THE G/U
Yep looks good set up same as mine
you gotta laugh...
its sauntering back up....
scotch anyone!
- #3,056
- May 18, 2011 10:05am May 18, 2011 10:05am
for some reason i can't seem to get a good trade out at present. all my begining trades went profitable, i havnet changed anything, its weird.
... been on 4hrtf for two days and missing someting...
Switching to 1 hrtf and testing... my sanity.
You just have to hang in there with the trades and try not to close them too early. The pa usually rises then moves back against you a little then rises. This repeats, its the natural market rhythm. As long as you are trading with the trend you should be ok.
- #3,058
- May 18, 2011 10:05am May 18, 2011 10:05am
For me its important I try and find a good RR. If I am setting a SL of 25, I want to be at least gaining 25 or more per trade. At the very least 1:1. This might help us do that and along with perfecting entries and staying out of bad trades it should improve the RR.
NOTE THE RESISTANCE I SOMEHOW MISSED ON THE G/U
A slightly more scientific approach could be 2 x ATR(14) which adjusts the stop for the volatility of any pair allowing you to tailor the stake accordingly.
A hard stop should be different for GJ and EG for example; using ATR based stops gives consistency relative to the volatility.
Of course ATR rquires another indi which is forbidden so Big E's guidance is required!
You don't have to be right, just don't be too wrong