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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #11,861
  • Nov 24, 2011 9:21am Nov 24, 2011 9:21am
Quoting lumesh
I don't get how you guys calculate your pips

a pip is a pip no matter how much you risk on a trade...

The NET pip amount is the important number that actually shows your real activity towards markets.

Otherwise you can cut your positions down to 0.01% leverage, hit 100 short orders, take 100 net pips profit and say woilaaa i made 10 000 pips ...

So, cut that 10 000 level down AaronWard...If it were net pips you'd be the best trader in the world.
My calculations are based on my own benchmark lot size that I always use.
If I want to take a larger position, I take multiple positions instead. This is how I track and report my pip gains.

For example. If I have one position go in my favor 100 pips, then that's 100 pips. If I scaled in with another position 50 pips into the trade and I close it at the same time as the first one then that's an additional 50 pips. Therefore my gain is 150 pips

That's how I calculate it.
Those who say it cannot be done should not interrupt those who are doing it
  • #11,862
  • Nov 24, 2011 9:23am Nov 24, 2011 9:23am
Quoting Tom_D_Trader
If Aaron has bambillion USD on his account and closes thousands of nanolots, reaping 2% of his equity he just made thousands of pips and 2%.
Well, for me it works out to 23% return this month. But as I said, it is a small account which I am using to practice my entries.
Kill the ego, or it will kill the mission.
  • #11,863
  • Nov 24, 2011 9:23am Nov 24, 2011 9:23am
1.3320 break very weak - time for look daily once again
Attached Image (click to enlarge)
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If there was easy money lying around,no one would be forcing it into your
  • #11,864
  • Nov 24, 2011 9:25am Nov 24, 2011 9:25am
Quoting nyfx718
damn shoulda took my 75 pip gain when i had the chance, got stopped out with a 3 pip gain grrrrrrr.
Quoting Tom_D_Trader
You must admit that this is funny.

That green line is my TP .
You both are hilarious I wasted my day thinking 1.3430 will hit and I'll get my pips
  • #11,865
  • Nov 24, 2011 9:27am Nov 24, 2011 9:27am
Good Morning Gentlemen,

I have a quick question to ask you guys, although I know it will vary trader to trader. I was wondering what time frame do you use and what confirmation you look for when approaching a S/R, in order to correctly time entry on a pullback? In other words, how do you determine that it is in fact a pullback and not a breakout?

Thanks in advance,

Kyle
  • #11,866
  • Nov 24, 2011 9:28am Nov 24, 2011 9:28am
Quoting AaronWard
Well, for me it works out to 23% return this month. But as I said, it is a small account which I am using to practice my entries.
By the way, this brings up an interesting point: What leverage do you guys use? What monthly return do you average? I use 50% and my return average is about 55% per month.

Just curious...
Observation is the path to discovery.
  • #11,867
  • Nov 24, 2011 9:29am Nov 24, 2011 9:29am
Ok, I have thought of the explanation.

1st case)
Lets say I normally enter 1 lot.
When it goes down 100 pips I made 1%.

2nd case)
Now, I am totally confident about trend, so I dont enter 1 lot, but 3x 1 lot.
It goes down 100 pips and I close all.

Do you think I made 1% in the 2nd case, or 3%?

T
"I know one thing, that I know nothing." Sokrates
  • #11,868
  • Nov 24, 2011 9:30am Nov 24, 2011 9:30am
My last trade of the day to see if we get a run up into the European close.....SL already at +1, so now its a free trade....

I also just banked a few on a long Swissy trade....
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Trading Levels with WRBs
  • #11,869
  • Nov 24, 2011 9:31am Nov 24, 2011 9:31am
Quoting Pip_Pursuer
Good Morning Gentlemen,

I have a quick question to ask you guys, although I know it will vary trader to trader. I was wondering what time frame do you use and what confirmation you look for when approaching a S/R, in order to correctly time entry on a pullback? In other words, how do you determine that it is in fact a pullback and not a breakout?

Thanks in advance,

Kyle
I use two accounts. One on a M5 for scalp trades and the other a H4 for position trades that average 2 to 3 days.

Your second question depends on many factors not easily explained here.
Observation is the path to discovery.
  • #11,870
  • Nov 24, 2011 9:35am Nov 24, 2011 9:35am
Quoting Alorente
By the way, this brings up an interesting point: What leverage do you guys use? What monthly return do you average? I use 50% and my return average is about 55% per month.

Just curious...
50%... by that you mean if you have an account size of 50000 USD you use a lot size of .25 lots?
Kill the ego, or it will kill the mission.
  • #11,871
  • Nov 24, 2011 9:39am Nov 24, 2011 9:39am
I like MM discussion
But when I see PT performance - I am more like his way managed the risk
If there was easy money lying around,no one would be forcing it into your
  • #11,872
  • Nov 24, 2011 9:39am Nov 24, 2011 9:39am
Quoting Alorente
By the way, this brings up an interesting point: What leverage do you guys use?...
I am super carefull, as I just started, so I aim for 25% per year. Managed to do 13% in 3 months so far (well in fact 5,5% is still floating), so meeting the targets. I am still awaiting some heavy drawdown though.

Leveraged 20:1, but in fact I dont even need to leverage that much. 10:1 would do quite well for me.

But anyway, I think 20 % per year is sufficient. No need to do more.

T
"I know one thing, that I know nothing." Sokrates
  • #11,873
  • Nov 24, 2011 9:40am Nov 24, 2011 9:40am
Quoting AaronWard
50%... by that you mean if you have an account size of 50000 USD you use a lot size of .25 lots?
No. For a 100.000 account I have total orders open at any one time of 25.000 maximum at 50:1 leverage. I rarely allow my margin level to drop below 200% and NEVER under 100%. I will close positions if that happens. If you are interested I can send you the Box System guidelines that I use through a PM.
Observation is the path to discovery.
  • #11,874
  • Nov 24, 2011 9:42am Nov 24, 2011 9:42am
Quoting Tom_D_Trader
Ok, I have thought of the explanation.

1st case)
Lets say I normally enter 1 lot.
When it goes down 100 pips I made 1%.

2nd case)
Now, I am totally confident about trend, so I dont enter 1 lot, but 3x 1 lot.
It goes down 100 pips and I close all.

Do you think I made 1% in the 2nd case, or 3%?

T
Lot Definition

 

  1. In most cases, a full-sized currency lot is an instrument representing 100,000 units of currency. One lot of Euro/U.S. dollar currency represents $100,000, two lots represent $200,000, and so forth.


Additionally depends upon whether you are trading Micro/Mini or Standard Lot for your trading?
  • #11,875
  • Nov 24, 2011 9:43am Nov 24, 2011 9:43am
Quoting Tom_D_Trader
I am super carefull, as I just started, so I aim for 25% per year. Managed to do 13% in 3 months so far (well in fact 5,5% is still floating), so meeting the targets. I am still awaiting some heavy drawdown though.

Leveraged 20:1, but in fact I dont even need to leverage that much. 10:1 would do quite well for me.

But anyway, I think 20 % per year is sufficient. No need to do more.

T
The most important factor is to be relaxed and cool while you trade. If you feel any stress at all, you have too much money on the line and you need to drop your leverage or your margin level.
Observation is the path to discovery.
  • #11,876
  • Nov 24, 2011 9:47am Nov 24, 2011 9:47am
Quoting rekon67
Lot Definition...
I didnt get point of this post. I know what is lot. And I wont tell you my lot size . This is internet. Google is watching ya!
"I know one thing, that I know nothing." Sokrates
  • #11,877
  • Nov 24, 2011 9:47am Nov 24, 2011 9:47am
Quoting rekon67
You both are hilarious I wasted my day thinking 1.3430 will hit and I'll get my pips
Trading is never a waste of time if you make a good return in a month. There will be days you just stare at the screen doing nothing and there will be days you just stare at the screen doing nothing while your pips are building.
Those who say it cannot be done should not interrupt those who are doing it
  • #11,878
  • Nov 24, 2011 9:48am Nov 24, 2011 9:48am
Quoting Alorente
The most important factor is to be relaxed and cool ...
I am cool . Supercool.
"I know one thing, that I know nothing." Sokrates
  • #11,879
  • Nov 24, 2011 9:48am Nov 24, 2011 9:48am
Quoting PipTrapper
Trading is never a waste of time if you make a good return in a month. There will be days you just stare at the screen doing nothing and there will be days you just stare at the screen doing nothing while your pips are building.
now that was a good one, couldn't agree more
  • #11,880
  • Nov 24, 2011 9:50am Nov 24, 2011 9:50am
Quoting Pip_Pursuer
Good Morning Gentlemen,

I have a quick question to ask you guys, although I know it will vary trader to trader. I was wondering what time frame do you use and what confirmation you look for when approaching a S/R, in order to correctly time entry on a pullback? In other words, how do you determine that it is in fact a pullback and not a breakout?

Thanks in advance,

Kyle
Probably should think about the fakeout V breakout V bounce. Breakouts will usually have a pullback before going their merry way.

First, the fakeout is more common than the breakout and a reversal or bounce is most common. So from a probability perspective, betting against price breaking out is a good bet.

You watch PA. If it bounces off the support, it should be good for a minor scalp and possibly a major runner. If it cuts through the support like a knife and continues for several bars before pulling back, it is more likely to be a breakout. If it sticks its head through the support and shows weakness after a bar or two then it is probably a fakeout.

Watch the momentum. The stronger the momentum of the movement the more likely it will continue in the direction the momentum is pointing.

What we have right now is confusing. It fell like a knife to support... but then it bounced. Right now it is grinding at support. The longer it spends grinding the less likely it will break out.
Kill the ego, or it will kill the mission.
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