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The Really Useless Thread

  • #21,561
  • Oct 4, 2011 1:01pm Oct 4, 2011 1:01pm
Quoting sisse
You have been on fire with you comment lately mate, I don't really share your view in this post.

Sure just follow the lines but that is the same for M1 or a yearly chart. You seem to be implying that only your Tfs with a very poor r:r IMHO can give you that. Nothing wrong with that, if you have mastered the flow in your TFs thats excellent but just because you can't see beyond your TF doesn't mean there is "juice" (and a lot more probably) when you trade from a wider angle.

On liquidity that's a very hard one to evaluate and...

I have and can trade very successfully with a even a 5:1 risk reward ratio so that doesn't really matter... When I say 1:1 risk reward I also say in other words the entry is better than the exit overall.. So the net positive pips or cents in stocks are positive...

I am also using a static size and don't use the BS 2% for every trade, by using that you will always have the biggest position when it goes wrong...

If you look at the higher time frames, the obvious trend is down, and 8-12 hours ago we were all looking for the downside and then what happen... it went the other way..

Those who didn't listen to anyone and was just following PA on the lower levels have had a very nice day today, which I have noticed have been the smart way to play it lately... thats why I said what I said...

I think we are trading on different time frames so we obviously will have different views...

Fundamentals works better in stocks, what I have seen in forex is shocking and is probably why we call it funnymentals...

The way I see liquidity is the price speed and strength of the trend... The PA we have now is something I would call just decent...

I assume you saw the "I feel sorry for the daily traders" quote earlier and today is just one of many retraces which have probably taken out a fear amount of the longer term traders... hence--sept 6, 15, 21, 27-29 and today...
  • #21,562
  • Oct 4, 2011 1:05pm Oct 4, 2011 1:05pm
Quoting PayTheLimit
am going to try and stretch these for a restest of 3229ish..
damn it, payed 50...
Look Sharp/Trade Tight
  • #21,563
  • Oct 4, 2011 1:06pm Oct 4, 2011 1:06pm
Quoting Larseg
I have and can trade very successfully with a even a 5:1 risk reward ratio so that doesn't really matter... When I say 1:1 risk reward I also say in other words the entry is better than the exit overall.. So the net positive pips or cents in stocks are positive...

I am also using a static size and don't use the BS 2% for every trade, by using that you will always have the biggest position when it goes wrong...

If you look at the higher time frames, the obvious trend is down, and 8-12 hours ago we were all looking for the downside...
why is it a bs?
  • #21,564
  • Oct 4, 2011 1:08pm Oct 4, 2011 1:08pm
Quoting PayTheLimit
damn it, payed 50...
mofos..
Look Sharp/Trade Tight
  • #21,565
  • Oct 4, 2011 1:14pm Oct 4, 2011 1:14pm
Quoting PayTheLimit
mofos..

Im bidding at 3235 shootin for 3320 then 3512 Ill pay 100pips( 1%) of my accnt on this 1st leg) to see if Im wrong

Read Bens speech and trichets stuff plus the SNB statement... very short term bullish for the EU... plus PA on the 4HR gives us a big fat Engulfing bar so Ill play off the 50% retrace on the swing high to take a punch at goin long...
  • #21,566
  • Oct 4, 2011 1:14pm Oct 4, 2011 1:14pm
26?
  • #21,567
  • Oct 4, 2011 1:17pm Oct 4, 2011 1:17pm
Quoting pkimnyc
why is it a bs?

You will always have the biggest position when you hit a looser....
  • #21,568
  • Oct 4, 2011 1:19pm Oct 4, 2011 1:19pm
Quoting Larseg
You will always have the biggest position when you hit a looser....
?
  • #21,569
  • Oct 4, 2011 1:21pm Oct 4, 2011 1:21pm
Quoting Larseg
You will always have the biggest position when you hit a looser....
never mind... i think i get your point.
  • #21,570
  • Oct 4, 2011 1:21pm Oct 4, 2011 1:21pm
Quoting Larseg
You will always have the biggest position when you hit a looser....
Something I need to reevaluate in my setup.

I base my current trade size off of a calculation derived from free margin and some bs math...

But, basically, the more I win, the bigger my lot sizes get. The more I lose, the smaller my lot sizes get.

This in itself makes it hard to come back from a bigger loss, due to my next trade being a smaller size. Winning streaks are where the big bucks are made. And losing streaks are protective in that nature. I make the assumption that I am going to be right more then wrong, and that a winner will be followed by a winner and a loser followed by a loser.

But, I am aiming for aggressive account growth right now. I'm sure I will even it out at some point in time.

Neat thing is... the same amount of pips is always the same % of the account.

(just random numbers, don't feel like doing math right now... but)

20 pips is 1% of my account at an account balance of 1000$, and 20 pips is 1% of my account balance at 100,000. compounding is fun, sometimes. lol
  • #21,571
  • Oct 4, 2011 1:23pm Oct 4, 2011 1:23pm
Quoting pkimnyc
never mind... i think i get your point.

with a high win% rate it works excellent though...
  • #21,572
  • Oct 4, 2011 1:23pm Oct 4, 2011 1:23pm
Quoting PayTheLimit
mofos..


Attached Image (click to enlarge)
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  • #21,573
  • Oct 4, 2011 1:23pm Oct 4, 2011 1:23pm
Quoting Larseg
If you look at the higher time frames, the obvious trend is down, and 8-12 hours ago we were all looking for the downside and then what happen... it went the other way..

I assume you saw the "I feel sorry for the daily traders" quote earlier and today is just one of many retraces which have probably taken out a fear amount of the longer term traders... hence--sept 6, 15, 21, 27-29 and today...
Interesting view but the last trade on daily was 1.360x so only weak hands will get scared...if you put it in perspective is like a 12 tick retrace on your M5 after a 100 tick move down and you decide to bail out ....so it will depend on the perspective...

In any case, I see where are you coming so keep up the good work and GL today if you are still trading.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #21,574
  • Oct 4, 2011 1:24pm Oct 4, 2011 1:24pm
I dont make money because im good at trading, I make it because I understand the numbers and money management...
  • #21,575
  • Oct 4, 2011 1:25pm Oct 4, 2011 1:25pm
i did say top
however i feel like kicking myself in the nutts for bailing out
Quoting PayTheLimit
damn it, payed 50...
  • #21,576
  • Oct 4, 2011 1:27pm Oct 4, 2011 1:27pm
Quoting Venice
Something I need to reevaluate in my setup.

I base my current trade size off of a calculation derived from free margin and some bs math...

But, basically, the more I win, the bigger my lot sizes get. The more I lose, the smaller my lot sizes get.

This in itself makes it hard to come back from a bigger loss, due to my next trade being a smaller size. Winning streaks are where the big bucks are made. And losing streaks are protective in that nature. I make the assumption that I am going to be right more then wrong, and that a winner will be followed...
hmmm... cost averaging anyone??
  • #21,577
  • Oct 4, 2011 1:27pm Oct 4, 2011 1:27pm
Quoting sisse
Interesting view but the last trade on daily was 1.360x so only weak hands will get scared...if you put it in perspective is like a 12 tick retrace on your M5 after a 100 tick move down and you decide to bail out ....so it will depend on the perspective...

In any case, I see where are you coming so keep up the good work and GL today if you are still trading.

sisse
I would assume those quick moves has a lot to do with profit taking and SLs
not "new" positions....

in a normal trend we have 2-3% favoring one side... the moves we have seen lately is def. more than 10% favoring one site, that for me is a concern... fear & greed out of control....
  • #21,578
  • Oct 4, 2011 1:29pm Oct 4, 2011 1:29pm
I might muck around a lot but when it comes to numbers I am very focused...
  • #21,579
  • Oct 4, 2011 1:30pm Oct 4, 2011 1:30pm
Quoting hkkhanus
i did say top
however i feel like kicking myself in the nutts for bailing out
you will get them on the next one brother...
Look Sharp/Trade Tight
  • #21,580
  • Oct 4, 2011 1:30pm Oct 4, 2011 1:30pm
you are officially awarded with the title of "The Bastard"
Quoting Larseg
I dont make money because im good at trading, I make it because I understand the numbers and money management...
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