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Igrok Method. Q's & A's. Comments, thoughts and ideas

  • #7,341
  • Feb 28, 2012 11:39pm Feb 28, 2012 11:39pm
Quoting jupiter_peak
Disater today. Stops hunting it seems.
Market suddenly run out of liquidity when things started to look good well might be a good lesson that there is a life going on behind those bars
  • #7,342
  • Feb 29, 2012 12:00am Feb 29, 2012 12:00am
Quoting Mr.C
Caution is always needed while trading.
I do notice over time that managed risk and limiting number of trades for a day do help in situations like this, just for me it's a hell hard to achieve that discipline some times
  • #7,343
  • Feb 29, 2012 2:20am Feb 29, 2012 2:20am
Quoting PutaMadre
I do notice over time that managed risk and limiting number of trades for a day do help in situations like this, just for me it's a hell hard to achieve that discipline some times
You're right. The only "cast in stone" rules for me are those that limit risk, including yours above. For example I have rules for max loss for any day is 2%, or for a week is 3%. If I reach any of these, I stop trading for the period.
Considering that my trade size is at most 1%, I have to manage my losers really well in case of a prolonged drawdown otherwise I need to stop trading because revenge & the need to make the money back feelings might come in.

If you don't use already, Myfxbook has a "goals" section where you can set rules like these, and you're notified if you don't "reach" your goals (e.g. did more than n trades during the day).

Cheers,
-soso

P.S. GBPUSD looks nice to me for an early ID 18.4.
Attached Image (click to enlarge)
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,344
  • Edited 4:29am Feb 29, 2012 4:14am | Edited 4:29am
Quoting soso
You're right. The only "cast in stone" rules for me are those that limit risk, including yours above. For example I have rules for max loss for any day is 2%, or for a week is 3%. If I reach any of these, I stop trading for the period.
Considering that my trade size is at most 1%, I have to manage my losers really well in case of a prolonged drawdown otherwise I need to stop trading because revenge & the need to make the money back feelings might come in.

If you don't use already, Myfxbook has a "goals" section where you can set rules like...
I just checked the goals section in myfxbook, that looks handy, thanks for spotting that out!

I put my 2 trades per day(per one instrument) rule from from common logic that if i would trade in best market activity then i will need only 2 trades (that should save me from overtrading):

Initial;
Second one in case i would need to reverse my trade;

If any more needed then i probably made mistake in timing the market, or consider market conditions to choppy to trade and thus stay out...

But that just in theory while acting in real conditions the things change sometimes i still have to work on my discipline to keep them...
  • #7,345
  • Feb 29, 2012 4:43am Feb 29, 2012 4:43am
BTW today ECB LTRO operation is announced (529.531 bln EUR injection as i have red in web) some fireworks could be seen
  • #7,346
  • Feb 29, 2012 9:43am Feb 29, 2012 9:43am
Lots of successful 18.4s today guys for a good run at the end of the month.

Wish you a profitable March.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,347
  • Feb 29, 2012 9:58am Feb 29, 2012 9:58am
Quoting soso
Lots of successful 18.4s today guys for a good run at the end of the month.

Wish you a profitable March.
The strategy to catch LTRO operation in EUR - i'm amazed
  • #7,348
  • Feb 29, 2012 10:06am Feb 29, 2012 10:06am
Quoting PutaMadre
The strategy to catch LTRO operation in EUR - i'm amazed
Sorry I don't know what do you mean.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,349
  • Feb 29, 2012 10:09am Feb 29, 2012 10:09am
Quoting soso
Sorry I don't know what do you mean.
#18.4 on EURUSD today
  • #7,350
  • Feb 29, 2012 10:16am Feb 29, 2012 10:16am
Quoting PutaMadre
#18.4 on EURUSD today
Ah well, let me clarify then . I didn't trade ALL #18.4s from today, obviously. I took an #18.4 early in London sesssion, considering that the Weekly high changed I was expecting a continuation upwards. So I took a small loss on this.

The big win though was the #18.4 GBPJPY Long taken right after NY Open. This one paid well.

And a GBPUSD Long that wasn't activated early in London.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,351
  • Feb 29, 2012 10:22am Feb 29, 2012 10:22am
Later in the day I had reasons to believe a bearish #18.4 on EURUSD would work after NY Open, but I skipped it because there were bull reasons also, plus was also watching USDCHF so had to choose one of them. Mixed sentiment = no trade for me.

Same for USDCHF, had pending orders sitting for a long #18.4 but pulled them out afterwards, which was a "mistake" in today's case.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,352
  • Feb 29, 2012 10:44am Feb 29, 2012 10:44am
Great video guys, matches with trading 110%.

http://vimeo.com/6153913

Have a nice evening all,
-soso
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,353
  • Edited 10:59am Feb 29, 2012 10:47am | Edited 10:59am
Quoting soso
Later in the day I had reasons to believe a bearish #18.4 on EURUSD would work after NY Open, but I skipped it because there were bull reasons also, plus was also watching USDCHF so had to choose one of them. Mixed sentiment = no trade for me.

Same for USDCHF, had pending orders sitting for a long #18.4 but pulled them out afterwards, which was a "mistake" in today's case.
The point i wanted to mention is that ECB already did the same operation back in 2011.12.21 and then after few days support was broken and price made a good sharp 180 pip down move, today we had the same event just in a bit bigger scale (529.531bln EUR'os were alloted from ECB into Banks) so high amplitude down move could be highly expected, it was the question of timing and right strategy to use only i guess .

P.s. nevertheless my initial trade on EURUSD was long also i guess if it will be third time of LRTO we will know what to do then
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  • #7,354
  • Feb 29, 2012 10:52am Feb 29, 2012 10:52am
Good info mate, I don't follow news at all, but good info, thanks! Just make sure you drop by to let us know when if happens again.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,355
  • Feb 29, 2012 10:58am Feb 29, 2012 10:58am
Quoting soso
Great video guys, matches with trading 110%.

http://vimeo.com/6153913

Have a nice evening all,
-soso
Fantastic video. Nice parallels with trading too, no doubt.
Measure twice, cut once
  • #7,356
  • Feb 29, 2012 11:01am Feb 29, 2012 11:01am
Quoting PutaMadre
BTW today ECB LTRO operation is announced (529.531 bln EUR injection as i have red in web) some fireworks could be seen
Soso - i did i did
  • #7,357
  • Mar 1, 2012 4:12am Mar 1, 2012 4:12am
Neat ID #18.4 on GBPUSD, hope someone else caught it cause I didn't.

My f****g broker, which is oanda, didn't fill my order, it's 4th time this week! It's becoming increasinglly frustrating, I checked my history and these 4 trades were a few good % profit.
Attached Image (click to enlarge)
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,358
  • Mar 1, 2012 5:30am Mar 1, 2012 5:30am
Quoting soso
Neat ID #18.4 on GBPUSD, hope someone else caught it cause I didn't.

My f****g broker, which is oanda, didn't fill my order, it's 4th time this week! It's becoming increasinglly frustrating, I checked my history and these 4 trades were a few good % profit.
Good trade that was supported by strong S/R level @5900
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  • #7,359
  • Mar 1, 2012 8:05am Mar 1, 2012 8:05am
I bet that those stops @1.3485 on EURUSD will be taken out in a short term
  • #7,360
  • Mar 1, 2012 8:24am Mar 1, 2012 8:24am
no commets
Attached Image (click to enlarge)
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