we'll see.
Attached Image (click to enlarge)
- #13,529
- Nov 15, 2011 10:18pm Nov 15, 2011 10:18pm
Howdy mate
Ok here is a good way to do it if you are concerned about how......lets say you start off with a $10,000. SO with that I will risk 1 full lot on a trade....I dont go on percentages I go an monetry value....once my account hits 15,000 I am then happy to risk 1.5 lots and so on...if I get a few trades in a row wrong and my balance decreases below that 5 grand threshold step, I decrease my lot size until I recover....as in if it goes back under 15grand I go back to 1 lot. I couldnt care less about % figures.
THis for me...
Looking objectively at the statement highlighted above, it seems to me that 1 lot defines the trade size but not the risk, would you agree?
Follow on from that, the stop loss distance must define the risk, and looking back at your trades, you will probably find that percentage does play a factor in your decision making whether you are aware of it or not.
More than likely, you use a fixed stop loss, correct? I'm sure if you did the work, you could improve your trading results by using the correct POSITION SIZING for each trade, use a % of account, that would truely be the stress free you seek.
Look forward to your comments, regards, C.
OPPORTUNITY IS NOWHERE
- #13,531
- Nov 16, 2011 12:10am Nov 16, 2011 12:10am
[quote=vcary;5136992]
Not sure about the D1 etc. but CaveManager v1.41 is an awesome trade manaing EA found in the THV thread, check it out 
Please, what is the next indicator to the left of the screen:
D1, H4, H1, M30, M15, M5?
and that means: "Cave 41on FXDirectDealer manager v1 (5 digits) Waiting for action ..."
Thanks
OPPORTUNITY IS NOWHERE
Dean, you are a well respected poster & user of this system.
Looking objectively at the statement highlighted above, it seems to me that 1 lot defines the trade size but not the risk, would you agree?
Follow on from that, the stop loss distance must define the risk, and looking back at your trades, you will probably find that percentage does play a factor in your decision making whether you are aware of it or not.
More than likely, you use a fixed stop loss, correct? I'm sure if you did the work, you could...
THis relates to my trading now as opposed to when this thread began.
SO in order for my MM to work for me, I only take trades with an R:R of 1:2 or 1:3.....mainly 1:3....its a matter of selecting them and being patient, you have proved yourself with many examples that there are pletny of these trades.
That way if I have a few in a row that lose, its easy to get out of the hole. SO what I do is this:
10 grand account I trade 1 lot. SL at 25 pips TP at 75 ( I obviously also manage these trades, they are not set in stone....market is dynamic). I trade until I reach an account of 15 grand, I up my lots to 1.5
3 trades in a row lost only takes one to get back to square. If I have 4 trades in a row as losers I drop back down to 1 lot until my account reaches that level again. If I have another 4 in a row losers I half my lot size until I am back to my original account balance.....I have another four in a row losers I half again.....having said that...if I have 12 losers in a row I should be telling you guys and you could all make a fortune simply trading the opposite way
.....but by halfing the lot size it protects my capital and pretty much ensures I will never lose it all and allows me to get back to square pretty quickly and stress free without overtrading or "looking" for trades that arent there. Suffice to say I have yet to have to drop a lot size.DO the math yourself...start with a 10 grand account and pretend you have 4 losers to start off with, so you half your lot size and do it down to 12 losers in a row and you will see you actually havent lost that much and with 1:3 you can get back on your feet quickly.
I'm not going to go into it again, I have written a couple of posts on why I dont like the % method....and its to do with recovery mainly.
ANyway....this is how I trade, it works for me, its stress free and it protects my capital. It works for me and gives me the level of comfort I need to step up to larger trade amounts......I am not saying this to be harsh, but I will not be explaining myself or defending this style.....I use it and I like it.....you can either take it on board or not, its not something I am suggesting you or anyone use, or if it works for you, use it.......its simply my style.......and THATS what trading is all about....your own style
- #13,533
- Edited 12:27am Nov 16, 2011 12:15am | Edited 12:27am
- | Commercial User | Joined Aug 2011 | 2,409 Posts
Hi guys
For some guys thats wondering to which crosses should they trade , I'm posting a chart that would help increase your win rate and make more pips.
This is a conservative style and it would allow you to catch a trend early. so we are basically looking for the TDI to touch or pierce the Blue bands then
We can trade the cross after that ( by backtesting you will notice that trading these crosses you will be more successful than trading just any cross.)
I've marked the charts with arrows, the double arrows show that those trades will have a much higher success because its touching the Purple EMA and on TDI is touching the blue bands so at that point you can almost predict where PA is going to go.
This is for the 4H charts.
P.S dont forget to put your SL on the high swing or low swing , No trading system is 100%.
For some guys thats wondering to which crosses should they trade , I'm posting a chart that would help increase your win rate and make more pips.
This is a conservative style and it would allow you to catch a trend early. so we are basically looking for the TDI to touch or pierce the Blue bands then
We can trade the cross after that ( by backtesting you will notice that trading these crosses you will be more successful than trading just any cross.)
I've marked the charts with arrows, the double arrows show that those trades will have a much higher success because its touching the Purple EMA and on TDI is touching the blue bands so at that point you can almost predict where PA is going to go.
This is for the 4H charts.
P.S dont forget to put your SL on the high swing or low swing , No trading system is 100%.
X-man the legendary conqueror of markets
- #13,535
- Nov 16, 2011 12:28am Nov 16, 2011 12:28am
- Joined Jul 2011 | Status: Gold Again | 10,557 Posts
It takes a lot for me to IGNORE you, but you can try.
- #13,536
- Nov 16, 2011 12:56am Nov 16, 2011 12:56am
- | Commercial User | Joined Aug 2011 | 2,409 Posts
Imagine you wait just for that set up the entire month then you you increase your lot size to 10 standard lots and trade that baby for just 100 pips. 
I dont think you will have to trade for the rest of the month after that.
but something like that wont be for the weak hearted
. LOL
In this case EUR/USD gave 2 nice exact signals where they touched the EMA as well as the Blue bands on TDI.
I dont think you will have to trade for the rest of the month after that.
but something like that wont be for the weak hearted
. LOLIn this case EUR/USD gave 2 nice exact signals where they touched the EMA as well as the Blue bands on TDI.
X-man the legendary conqueror of markets
- #13,540
- Nov 16, 2011 2:42am Nov 16, 2011 2:42am
- | Commercial User | Joined Aug 2011 | 2,409 Posts
X-man the legendary conqueror of markets