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  • #381
  • Nov 30, 2011 11:08pm Nov 30, 2011 11:08pm
I went through this thread and I have to say is one of the most grounded, clear and no bs I've read. Just a note. It doesn't matter how much, what matters is the basic principle. Chicky is right, having a method (regardless what that is) that provides a stress free trader life is priceless.
  • #382
  • Dec 1, 2011 1:13am Dec 1, 2011 1:13am
Thats why I follow this thread closely, although I'm not posting much. Changed my method a little.
Attila, I understand you have a method with fixed take profits, but not fixed s/l. Do you mind elaborating on your method a bit?

Regards, LD
Fail better.
  • #383
  • Dec 1, 2011 2:09am Dec 1, 2011 2:09am
Quoting Chicky
I don't know no shit about this pair's personality. Have added a couple of lines though.
thanks,
FF should have thanks button

currently trade in $4 plus but swap already $0.44 cent (Wednesday close x2.5 swap )
Mohan
  • #384
  • Dec 1, 2011 7:32am Dec 1, 2011 7:32am
Quoting LarryDarrell
Thats why I follow this thread closely, although I'm not posting much. Changed my method a little.
Attila, I understand you have a method with fixed take profits, but not fixed s/l. Do you mind elaborating on your method a bit?

Regards, LD
The idea is to set a trade with a TP(the method is not important) and then trade all the up/downs on the lower TFs on the way there. The problem is, it requires too much screen time, occasionally having to take large losses (no predictability here, and that equals stress). So anyway, moving up TFs with a more rigorous approach to MM. What I'm trying to figure out right now is if Chicky's approach would work with multiple orders across pairs. I'm not sure atm it would...

I'm in testing mode right now.

http://www.forexfactory.com/showthre...80#post5183280
  • #385
  • Dec 1, 2011 8:06am Dec 1, 2011 8:06am
Here's a pdf focused on MM. It's my homework for the weekend.
Attached File(s)
File Type: pdf 53195914-Ryan-Jones-The-Trading-Game-Playing-by-the-Numbers-to-Make-Millions.pdf   1.8 MB | 338 downloads
  • #386
  • Dec 1, 2011 10:24am Dec 1, 2011 10:24am
Quoting Chicky
Trade#39 Entered.

Long for 70 pips.
Trade#39 - Concluded. TP hit 1%

All trades (real or demo) closed and all pending orders cancelled. Waiting for a fresh opportunity.
Attached Image (click to enlarge)
Click to Enlarge Name: 36.jpg Size: 93 KB
The Thief of Wall Street
  • #387
  • Dec 1, 2011 12:23pm Dec 1, 2011 12:23pm
Quoting attila
The idea is to set a trade with a TP(the method is not important) and then trade all the up/downs on the lower TFs on the way there. The problem is, it requires too much screen time, occasionally having to take large losses (no predictability here, and that equals stress). So anyway, moving up TFs with a more rigorous approach to MM. What I'm trying to figure out right now is if Chicky's approach would work with multiple orders across pairs. I'm not sure atm it would...

I'm in testing mode right now.

http://www.forexfactory.com/showthre...80#post5183280...
You lot make this WAYYY more complicated than it has to be you realise.


Trading is as simple as :-

1. Determine the trend.
2. Enter with the trend on a pull back.
3. If it pulls back more, get some more average down.

then 3 options :-

1. If you get to a nice little profit ( big as possibly ofcourse ) and it's starting to stall take it.
2. If it gets to low and looks to continue lower, exit.
3. If the trend changes exit.


M15 is the best TF to trade this with over all.


REPEAT till rich!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #388
  • Dec 1, 2011 1:11pm Dec 1, 2011 1:11pm
Hey man, what's going on? You heard about Mike, right?

Quoting Turveyd
You lot make this WAYYY more complicated than it has to be you realise.


Trading is as simple as :-

1. Determine the trend.
2. Enter with the trend on a pull back.
3. If it pulls back more, get some more average down.

then 3 options :-

1. If you get to a nice little profit ( big as possibly ofcourse ) and it's starting to stall take it.
2. If it gets to low and looks to continue lower, exit.
3. If the trend changes exit.


M15 is the best TF to trade this with over all.


REPEAT till rich!!
  • #389
  • Dec 1, 2011 1:23pm Dec 1, 2011 1:23pm
Quoting attila
Hey man, what's going on? You heard about Mike, right?
Yo dude, same old, accounts going the right way, work getting in the way, just missed a gold long for $20

Yeah I heard about Mike, sucks he was MAD as MAD but a good chap none the less, actually not a scammer like the scammers ( ironic hey ) where claiming.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #390
  • Dec 1, 2011 1:25pm Dec 1, 2011 1:25pm
Quoting Turveyd
Yo dude, same old, accounts going the right way, work getting in the way, just missed a gold long for $20

Yeah I heard about Mike, sucks he was MAD as MAD but a good chap none the less, actually not a scammer like the scammers ( ironic hey ) where claiming.
He was... I miss him very much. Such a good human being..
  • #391
  • Dec 1, 2011 1:30pm Dec 1, 2011 1:30pm
Quoting attila
He was... I miss him very much. Such a good human being..
Yep, sadly we live in a world where good people are generally faking and scammers but as you might of spotted I've got a way of spotting the scammers, had them all pegged on here


I presume you stayed in touch after his banning from here then ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #392
  • Dec 1, 2011 1:32pm Dec 1, 2011 1:32pm
Quoting Turveyd
Yep, sadly we live in a world where good people are generally faking and scammers but as you might of spotted I've got a way of spotting the scammers, had them all pegged on here


I presume you stayed in touch after his banning from here then ??
Yeah, almost every day chatting about trading, goofing around mostly towards the end..
  • #393
  • Dec 1, 2011 1:34pm Dec 1, 2011 1:34pm
Quoting attila
Yeah, almost every day chatting about trading, goofing around mostly towards the end..
At least it was quick and no suffering ( heart attack I heard ?? )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #394
  • Dec 1, 2011 1:36pm Dec 1, 2011 1:36pm
Quoting Turveyd
At least it was quick and no suffering ( heart attack I heard ?? )
Yes. The irony was he was going to get open heart surgery 4-5 days later. He kept on postponing it for almost a year. He never made it...

At least I get to keep his words as my motto.
  • #395
  • Dec 1, 2011 3:18pm Dec 1, 2011 3:18pm
Chicky, quick question. You are taking a 1:1 because your method (playing bounces on s/r points) allows you to. What I'm trying to figure out is how to make this work with a PA based system. In other words, let's say I long at a brake out and I set my SL below the previous low (pull back). If I go 1:1, it may never make it to the TP because there could be other points in the way where it may turn around. I know, one can take the TP and set the SL for the same amount but that exposes your SL to volatility. The only way I see around it is trade the lower TFs using the same (HH/HL) while on the way to the initial TP, but that defeats the MM part of it....

Any thoughts?
  • #396
  • Dec 1, 2011 3:21pm Dec 1, 2011 3:21pm
Here's an example: It could very well drop back at 3586. It's a demo trade and it was not really taken on the breakout, just an example....

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  • #397
  • Edited 5:07pm Dec 1, 2011 4:49pm | Edited 5:07pm
Quoting attila
Chicky, quick question. You are taking a 1:1 because your method (playing bounces on s/r points) allows you to. What I'm trying to figure out is how to make this work with a PA based system. In other words, let's say I long at a brake out and I set my SL below the previous low (pull back). If I go 1:1, it may never make it to the TP because there could be other points in the way where it may turn around. I know, one can take the TP and set the SL for the same amount but that exposes your SL to volatility. The only way I see around...
I tried a million different things. The ultimate conclusion for me is that there is no atr, high, low, LL, LH, HL, fib, etc. etc. but only support and resitances at certain price levels. One takes a chance of either bounce or break of these s/rs with 1% profit or 1% loss. If one is right more than 50% of the time can make profit.

The next thing is how to optimize this for abundance. Increasing risk % will be foolish. Switching to smaller timeframes and taking few pip trades will speed-up the number of trades and hence profit but spread ratio would be too high. Therefore one should focus on trades that are neither too long or too short but around solid support/resistances.

Check daily, putting sl below previous low works more than 50% of the time. (If I understand correctly, Turtles used daily ATR
for sls,........... twice the daily atr. You may also like to set sl a bit (if not times) more than previous low.

If your sl is exposed to volatility, so is your tp.
The Thief of Wall Street
  • #398
  • Dec 1, 2011 5:21pm Dec 1, 2011 5:21pm
Quoting Chicky
Check daily, putting sl below previous low works more than 50% of the time. (If I understand correctly, Turtles used daily ATR
for sls,........... twice the daily atr. You may also like to set sl a bit (if not times) more than previous low.

If your sl is exposed to volatility, so is your tp.

Thanks, as simple as this is, I missed thinking that way.

The Turtles were using ATR sl, and the entry was at 20/55 channel breakout. However they were pyramiding in and moving the SL. That would defeat the 1:1 ratio.
  • #399
  • Dec 1, 2011 5:36pm Dec 1, 2011 5:36pm
Quoting attila
Thanks, as simple as this is, I missed thinking that way.

The Turtles were using ATR sl, and the entry was at 20/55 channel breakout. However they were pyramiding in and moving the SL. That would defeat the 1:1 ratio.
very nice point , moving sl also need screen time & work or dump ea. it defiantly reduce s/l but might reduce tp also
Mohan
  • #400
  • Dec 1, 2011 5:49pm Dec 1, 2011 5:49pm
This is my solution to sloppy entrys, no way to predict an exact entry so I just get in, don't over think it, just do it.

Only concern is, will my trade turn before the SL, if I think it won't I take the trade, 89% win rate with this and a 50SL.

Here is the trick, say 100 SL. buy a 2nd position at -33, and a 3rd position at -66, yes your loss is 2%, same SL place on all, same TP on all.

So options :-

1. Market goes straight to -100, lose 2%.
2. Market does well, only 1 position take 1%
3. Market fills 2nd position then hits TP, make 2.33%.
4. Market fills 2nd and 3rd position, then hits TP make 4%.

You risking less on positions 2 and 3 but have more upside potential.

I have a range based system so this works perfectly for me.

I manually exit on 1st stall or when it starts to turn against me in profit, generally get 60pips for risking 50 so it's all good

KEEP IT SIMPLE!!

Moving SL's I've tried, it just creates death by a 1000nd cuts sadly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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