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Scalping 20+ trades per day

  • #921
  • Edited 2:17pm Mar 28, 2012 11:58am | Edited 2:17pm
@ mtc

My top was 540 pips after my first entry, and I still could add but with great risk.

The size was determined by trial and error. I am very conservative in terms of risks. As I wrote in my first post, my SL is not measured in pips but in % equity. It was never executed.

The leverage or trading line is calculated by the platform with the formulas here: http://www.dukascopy.com/swiss/engli...counts/margin/

And in the case of these last three trades, there was plenty of leverage left to add to the positions. The key is not to add to early.

Figure this. The price moved against you 100 pips. You added 1 lot at each 10 pips. So you added 11 lots. Your average price is 50 pips away from the market price, but your position size is 11 lots. What if, like on Monday, some comment pushes the market further 100 pips? Your average becomes 100 pips away from price, but the size of the position is 21 lots.

Now, you added 1 lot every 40 pips you had the same average but only 5 lots. Can the price go higher without ruining your equity? Yes, it can.

Mind this: the farther it goes to, the difficulty to recover rises. However, about this one in the room next week.

@ normtold

Yes I do. Not often though.

This is what I do. I hope that my answer helps.
If you're not part of the solution then you're part of the problem.
  • #922
  • Mar 28, 2012 6:45pm Mar 28, 2012 6:45pm
Quoting majorusa
@ mtc

My top was 540 pips after my first entry, and I still could add but with great risk.

The size was determined by trial and error. I am very conservative in terms of risks. As I wrote in my first post, my SL is not measured in pips but in % equity. It was never executed.

The leverage or trading line is calculated by the platform with the formulas here: http://www.dukascopy.com/swiss/engli...counts/margin/

And in the case of these last three trades, there was plenty of leverage left to add to the...
Thanks for the info. Do you usually find that adding 40 pips or so away from your price makes up for the losses, if say, price never quite makes it back to your first entry? I will check out the link.
Shapeshift greed and catch em' off guard
  • #923
  • Mar 28, 2012 11:31pm Mar 28, 2012 11:31pm
Quoting majorusa
Mind this: the farther it goes to, the difficulty to recover rises. However, about this one in the room next week.
I am not in your chat room, but would be interested in hearing more about this.
Shapeshift greed and catch em' off guard
  • #924
  • Mar 29, 2012 2:00pm Mar 29, 2012 2:00pm
Quoting Czaray
Thanks for the info. Do you usually find that adding 40 pips or so away from your price makes up for the losses, if say, price never quite makes it back to your first entry? I will check out the link.
You did not grasp the concept. It is not about price returning to your initial point of entry but price returning past your average price on position. Read again the first post and search google for averaging down / up.
If you're not part of the solution then you're part of the problem.
  • #925
  • Mar 29, 2012 2:46pm Mar 29, 2012 2:46pm
Quoting normtold

Or do you always wait until the average price of all the open positions are profitable before closing them all?
Usually I wait for the average to be profitable. But on occasions, if identify a range I am reducing partially the position and add again.
If you're not part of the solution then you're part of the problem.
  • #926
  • Mar 29, 2012 11:04pm Mar 29, 2012 11:04pm
Quoting majorusa
@ mtc
My top was 540 pips after my first entry, and I still could add but with great risk.

The size was determined by trial and error. I am very conservative in terms of risks. As I wrote in my first post, my SL is not measured in pips but in % equity. It was never executed.

Mind this: the farther it goes to, the difficulty to recover rises. However, about this one in the room next week.
This was very helpful. Thank you.
I enter about every 30 pips, so it doesn't build up too fast. But now I think I need to make my Lot size smaller to cover more entries, which means very little profit. In the U.S we can no longer trade with 1:100 leverage. So margin used adds up quickly with many entries, for little profit.
Does this method require a 1:100 leverage to make reasonable profits for amount invested?
[I'm thinking of moving to England just to get 1:100 leverage, plus better trading hours!]
If your profit is in the negative 2-3% of your equity, would you close the whole trade at a loss?
I'm trying to figure out how to avoid blowing weeks of profits on one bad trade. I look forward to learning more about this next week.

Thanks,
MTC
  • #927
  • Mar 30, 2012 1:20am Mar 30, 2012 1:20am
Quoting mtc235
This was very helpful. Thank you.

If your profit is in the negative 2-3% of your equity, would you close the whole trade at a loss?
I'm trying to figure out how to avoid blowing weeks of profits on one bad trade. I look forward to learning more about this next week.

Thanks,
MTC
No. I close only partial position in order to make room to add further.

You are right, for US 50:1 is not very good for this method.

I want to make something clear. There is no magic bullet. There is no Holly Grail of trading. This method requires a large equity and a lot of work. But a pip in the bag is not a pip out of the bag. So it is up to you and your pain threshold and skills on how much to risk.
If you're not part of the solution then you're part of the problem.
  • #928
  • Apr 2, 2012 2:57am Apr 2, 2012 2:57am
Good morning!

sh eu 66
If you're not part of the solution then you're part of the problem.
  • #929
  • Apr 2, 2012 3:07am Apr 2, 2012 3:07am
sh gu 40
If you're not part of the solution then you're part of the problem.
  • #930
  • Apr 2, 2012 3:59am Apr 2, 2012 3:59am
I exited eu 53+ 13 pips.
If you're not part of the solution then you're part of the problem.
  • #931
  • Apr 2, 2012 4:29am Apr 2, 2012 4:29am
sh eu 48
If you're not part of the solution then you're part of the problem.
  • #932
  • Apr 2, 2012 5:17am Apr 2, 2012 5:17am
sh au 91
If you're not part of the solution then you're part of the problem.
  • #933
  • Apr 2, 2012 7:04am Apr 2, 2012 7:04am
out eu 29 + 19 pips
out au 81 + 10 pips
out gu 35 + 5 pips

Total today + 47 pips.

Got to go now. C u tomorrow.
If you're not part of the solution then you're part of the problem.
  • #934
  • Apr 2, 2012 11:21pm Apr 2, 2012 11:21pm
Quoting majorusa
No. I close only partial position in order to make room to add further.

You are right, for US 50:1 is not very good for this method.
Thanks for confirming that 100:1 is better for this approach. It helps explain some of the money management challenges. It will take some time for me to refine it.

Thanks,
MTC
  • #935
  • Edited 4:21am Apr 3, 2012 2:07am | Edited 4:21am
Good morning.

l eu 38
l gu 23
If you're not part of the solution then you're part of the problem.
  • #936
  • Apr 3, 2012 4:21am Apr 3, 2012 4:21am
out eu 52 + 13 pips
out gu 33 + 10 pips

sh eu 50
sh gu 31
If you're not part of the solution then you're part of the problem.
  • #937
  • Apr 3, 2012 4:53am Apr 3, 2012 4:53am
out gu 13 + 17 pips
If you're not part of the solution then you're part of the problem.
  • #938
  • Apr 3, 2012 5:05am Apr 3, 2012 5:05am
sh au 70
If you're not part of the solution then you're part of the problem.
  • #939
  • Apr 3, 2012 5:10am Apr 3, 2012 5:10am
sh gu 5
If you're not part of the solution then you're part of the problem.
  • #940
  • Apr 3, 2012 5:48am Apr 3, 2012 5:48am
out eu 35 + 13 pips
If you're not part of the solution then you're part of the problem.
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