took 11 pips
hope everyone else is doing good.
- #526,976
- Aug 18, 2011 9:38am Aug 18, 2011 9:38am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
Thanks. I don't have e-signal, so can't read it. But I don't see it on Bloomberg, and the search links are just to fever swamp blogs (and here). The headline says enough, though. It's just rumor anyway, most likely.
- #526,977
- Aug 18, 2011 9:39am Aug 18, 2011 9:39am
- Joined May 2008 | Status: Voodoo Lotions & Potions | 26,565 Posts
Hi ken bro, do you keep contant sizes the way up or do you martingale?
And more important, where would you gtfo
One of my recent screen shots showed a LOAD of orders to the north. Its a little inaccurate though, because a bunch of those were set last night when we were still up around 4400. I just haven't canceled them all yet. So...gtfo? LONG before all those orders would be filled. Don't actually have a precise answer on that one...still analyzing. But, probably higher than I expect it to go anytime soon.
Lot sizes. I use a few different approaches. The most obvious would be...one large size at a certain price...think gator's sort of levels. Hit it hard, pull some out...hopefully let some run. Other approach is in over two orders. Say I have a figure I think it will hit. I may go in with 33% of total size about 8 pips below my anticipated level...just to have something in if it doesn't quite make it. Other 66% gets filled, or not, at my eyed level. Third approach...
When daily targets have been blown away like today, I will reduce lot sizes and play a "sliding grid" type approach. I will increment trade sizes as price rises, but nowhere near a true martingale method. I may do something like...
.5
.5
.5
1
1
4
...over a 100 pip range. So it would be rare that the 4 lot order would even get hit...unless I'm completely out to lunch! If it does fill and its still moving against me, my decision becomes...do I drop a large one in to just try and hit net BE...or does my preset DD% allowance kick in and close the lot. That hasn't happened in an awful long time. This approach certainly isn't everybody's cup of tea, but keeps me entertained. I enjoy it, because if I'm doing it, I know my daily targets have already been hit.
Overview complete. If I rambled...or didn't explain clear enough...let me know.
Cheers brother!
Edit...my 6th order in my queue for today is at 4414...and is only 2 lots in size. Fill them up...the lot of'em!
- #526,978
- Aug 18, 2011 9:39am Aug 18, 2011 9:39am
- Joined Oct 2007 | Status: Trader | 2,760 Posts
Damn, you're atypical... so you're not in mafia... that's good!
