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Trading Made Simple

  • #12,121
  • Sep 28, 2011 11:07pm Sep 28, 2011 11:07pm
Quoting Martinius
Yeah, those are the ones I'm using too, but I just wanted to check Erebus' calculator too. Seemed simple and effective.

EDIT: By the way, how do you use that Risk Reward calculator on EarnForex! I didn't quite get it... Instructions on the site are vague...
I've always been using the position size calcuator , but never looked at the R&R Calculator. Help appreciated
My bad, I said R/R because that is how I think of position size - my Risk part. I just equate position size with risk size (amount.) Sorry for the confusion. p
  • #12,122
  • Sep 28, 2011 11:22pm Sep 28, 2011 11:22pm
A Trader’s Self-Evaluation Checklist

Brett N. Steenbarger, Ph.D.


1)What is the quality of your self-talk while trading? Is it angry and frustrated; negative and defeated? How much of your self-talk is market strategy focused, and how much is self-focused? Is your self-talk constructive, and would you want others to be talking with you that way while you’re trading?

2)What work do you do on yourself and your trading while the market is closed? Do you actively identify what you’re doing right and wrong in your trading each day—with specific steps to address both—or does your trading business lack quality control? Markets are ever changing; how are you changing with them?

3)How would your trading profit / loss profile change if you eliminated a few days where you lacked proper risk control? Do you have and strictly follow risk management parameters?

4)Does the size of your positions reflect the opportunity you see in the market, or do you fail to capitalize on opportunity or try to create opportunities when they’re not there?

5)Are trading losses often followed by further trading losses? Do you end up losing money in “revenge trading” just to regain money lost? Do you finish trading prematurely when you’re up money, failing to exploit a good day?

6)Do you cut winning trades short because, deep inside, you don’t think you’ll be able to make large profits? Do you become stubborn in positions, turning small losers into large ones?

7)Is trading making you happy, proud, fulfilled, and content, or does it more often leave you feeling unhappy, guilty, frustrated, and dissatisfied? Are you having fun trading even when it’s hard work?

8)Are you making trades because the market is giving you opportunity, or are you placing trades to fulfill needs—for excitement, self-esteem, recognition, etc.—that are not being met in the rest of your life?

9)Are you seeking trading success as a part-time trader? Would you be seeking success as a surgeon, professional basketball player, or musician by pursuing your work part-time?


10)Can you identify the specific edges you possess over the many other motivated, interested traders that fail to achieve success in the markets? Do you really have an edge, and—if so—what are you doing to maintain it?
It takes a lot for me to IGNORE you, but you can try.
  • #12,123
  • Edited Sep 29, 2011 12:07am Sep 28, 2011 11:47pm | Edited Sep 29, 2011 12:07am
Quoting MichaelSimon
Heres what Im looking at now.

Im on a hell of a ride on the CHF/JPY on the daily tho. Been down over 1k on it but sticking in there. I know it'll come back up, everything looks perfect. TDI not only angled good, but in a good position.
Stoch same.
And I took this E/G long. Which is up and Im watching it.
Note the orange vert line is where I was thinking about it but conditions werent optimal, so I waited. Red line is where I entered.


[b]Oh and btw I guess its important to say:
This is...
Here is how this should have been displayed - WOW - look at the actual risk placed on this trade! See how high the RISK has to increased to make the lot size equal 1, which is what you are using. Problem is, if this became a huge winner for you, then you become addicted to random rewards.
Attached Images
It takes a lot for me to IGNORE you, but you can try.
  • #12,124
  • Sep 29, 2011 12:43am Sep 29, 2011 12:43am
Quoting Erebus
1. Are you trading for the thrill?
2. Why are you trading exotics?
3. Do you have any idea of risk / position sizing / stop loss?

You are way over leveraged with that 1 position alone, see the calculation; if you intend to "learn" to trade Forex using a demo, you must simulate all aspects of it.

Have a look at my Trade Explorer for some idea, see every trade is a different size, there is a reason for that, and each one of them is only 2% risk.
I want this calculation
can you put it here?
  • #12,125
  • Sep 29, 2011 1:09am Sep 29, 2011 1:09am
long on E/U
Attached Image (click to enlarge)
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  • #12,126
  • Sep 29, 2011 1:25am Sep 29, 2011 1:25am
Quoting fufighter
long on E/U

Looks like it might be turning over on the 1 HR after a 89 pip run up. Going to watch that one for a bit.
  • #12,127
  • Sep 29, 2011 1:37am Sep 29, 2011 1:37am
Quoting Phx62
I normally only trade the H1 chart during the London session...this week was different because I was off work and wanted to experment with earlier entries on the M15 chart. There are usually only 1 or 2 crosses of TDI during the 9 hours of London. Highlight the hours of the London session on your charts and only trade crosses during that period. You will find that there is almost always a 50 to 100+ move during that period. Once the PA has moved 50 or 60 pips in one direction, there is usually a small retracement or consolidation and then the move...
A post worthy of time to be scheduled for back testing. Thank you!
  • #12,128
  • Sep 29, 2011 3:11am Sep 29, 2011 3:11am
I'm not doing so well this week. Slowly losing money. How is everyone is going? It's just a confidence thing. Might be time to go back to demoing and really prove that I can consistently trade profitably week to week.
  • #12,129
  • Sep 29, 2011 3:16am Sep 29, 2011 3:16am
live trading

buy eurusd h1

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  • #12,130
  • Sep 29, 2011 3:37am Sep 29, 2011 3:37am
Hey buddy,

Too close to resistance you might want be careful there !!!!!!!! hope it goes your way though

cash forex
  • #12,131
  • Sep 29, 2011 4:42am Sep 29, 2011 4:42am
Quoting amiralifx
live trading

buy eurusd h1

Attachment
stoch and tdi heavily overbought too...did you assess this or do you just enter because the tdi tells you to??
  • #12,132
  • Sep 29, 2011 5:11am Sep 29, 2011 5:11am
Quoting dean
stoch and tdi heavily overbought too...did you assess this or do you just enter because the tdi tells you to??
Hi, Dean

TDI is not reach 68 yet, but if stock > 80 you would not enter.
I understand correct?
  • #12,133
  • Sep 29, 2011 5:55am Sep 29, 2011 5:55am
Quoting fufighter
Hi, Dean

TDI is not reach 68 yet, but if stock > 80 you would not enter.
I understand correct?
yes. I belive too.

I use stoch only confirmation.
  • #12,134
  • Sep 29, 2011 6:01am Sep 29, 2011 6:01am
Quoting amiralifx
live trading

buy eurusd h1

Attachment
exit whith +3
  • #12,135
  • Sep 29, 2011 6:06am Sep 29, 2011 6:06am
I'm short E/U what do you guys think?
Attached Image (click to enlarge)
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  • #12,136
  • Sep 29, 2011 6:11am Sep 29, 2011 6:11am
Quoting makybe05
I'm short E/U what do you guys think?
the entry signal looks imho nice, but you don´t enter within the first two candles of the london- or us-session!
  • #12,137
  • Sep 29, 2011 6:12am Sep 29, 2011 6:12am
live trading

sell eurusd h1

Attached Image (click to enlarge)
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  • #12,138
  • Sep 29, 2011 6:13am Sep 29, 2011 6:13am
Quoting smash85
the entry signal looks imho nice, but you don´t enter within the first two candles of the london- or us-session!
Wow. First I've heard of it. I thought you HAD to enter within the first two candles of a reversal.
  • #12,139
  • Sep 29, 2011 6:15am Sep 29, 2011 6:15am
Short E/U
Attached Image (click to enlarge)
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  • #12,140
  • Sep 29, 2011 6:19am Sep 29, 2011 6:19am
Quoting makybe05
Wow. First I've heard of it. I thought you HAD to enter within the first two candles of a reversal.
As I got it from the summary of BigE (PDF), he enters only at the beginning of first or second bar at london- or us-session. Didn´t I get it right?

Nevertheless the sell-signal looks very promising!
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