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  • #41
  • Jun 16, 2013 1:57pm Jun 16, 2013 1:57pm
Quoting Redsunfx
Geo I have looked at your best trade on EURAUD correct me if im wrong but you was long and you add more even if your first entry was at a loss , you are kind of averraging your position ? im not against the concept of doing it ... it just a question
Red,

please, let me know date and time of the trade, as I could answer to you with precision.

Thx.
Don't give up
  • #42
  • Edited 2:56pm Jun 16, 2013 2:05pm | Edited 2:56pm
Quoting Redsunfx
Geo I have looked at your best trade on EURAUD correct me if im wrong but you was long and you add more even if your first entry was at a loss , you are kind of averraging your position ? im not against the concept of doing it ... it just a question
Redsunfx,
Is it ok if we use this example? I'm interested to know how many scale-ins allowable and how far to allow the initial position (Trade 1) to go against him before finally taking the stop loss (if ever). In this EURAUD trade, he did 7 trades at 10pips intervals with very small risk, about 0.7% per 10pips move. As he trades in direction of Daily trend the price eventually will go in his favor and let him get out of all his scale-in positions nicely, even with overall positive gain.

I'm not against the concept too as I've been studying this strategy and preparing to demo trade with same risk profile to test out the idea for myself. Please keep asking questions, it will help me too.

As I mentioned in earlier post, I'm going to try out the same demo but with increasing lot sizes with Trade 7 being the largest. For him he seems to use equal lot size, as he said he used low leverage of 1:10. His rate of equity compounding is amazing, +125% in only 12 trading days.

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No longer trading forex. Looking for full time job.
  • #43
  • Jun 16, 2013 2:14pm Jun 16, 2013 2:14pm
i'm talking about euraud trade from june 7
1 entry 7h46
1 entry 9h13
both close positive but the first one was really red -50 pips
  • #44
  • Jun 16, 2013 2:19pm Jun 16, 2013 2:19pm
Quoting Redsunfx
i'm talking about euraud trade from june 7 1 entry 7h46 1 entry 9h13 both close positive but the first one was really red -50 pips
You're referring to this trade which is good example too, with 5 scale-ins.
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No longer trading forex. Looking for full time job.
  • #45
  • Jun 16, 2013 2:59pm Jun 16, 2013 2:59pm
Quoting Redsunfx
i'm talking about euraud trade from june 7 1 entry 7h46 1 entry 9h13 both close positive but the first one was really red -50 pips
Yes, right
Don't give up
  • #46
  • Jun 16, 2013 3:00pm Jun 16, 2013 3:00pm
Quoting mmaker
{quote} Redsunfx, Is it ok if we use this example? I'm interested to know how many scale-ins allowable and how far to allow the initial position (Trade 1) to go against him before finally taking the stop loss (if ever). In this EURAUD trade, he did 7 trades at 10pips intervals with very small risk, about 0.7% per 10pips move. As he trades in direction of Daily trend the price eventually will go in his favor and let him get out of all his scale-in positions nicely, even with overall positive gain. I'm not against the concept too as I've been studying...
Yes, right.
Don't give up
  • #47
  • Jun 16, 2013 3:22pm Jun 16, 2013 3:22pm
Quoting mmaker
{quote} Redsunfx, Is it ok if we use this example? I'm interested to know how many scale-ins allowable and how far to allow the initial position (Trade 1) to go against him before finally taking the stop loss (if ever). In this EURAUD trade, he did 7 trades at 10pips intervals with very small risk, about 0.7% per 10pips move. As he trades in direction of Daily trend the price eventually will go in his favor and let him get out of all his scale-in positions nicely, even with overall positive gain. I'm not against the concept too as I've been...
I use that concept, and I study for 5 years someone´s trades, and he is still trading like that, an real extreme sucess example about trading forex...
  • #48
  • Jun 16, 2013 3:28pm Jun 16, 2013 3:28pm
Quoting xandi
{quote} I use that concept, and I study for 5 years someone´s trades, and he is still trading like that, an real extreme sucess example about trading forex...



So, here we go!!!
Don't give up
  • #49
  • Jun 16, 2013 3:32pm Jun 16, 2013 3:32pm
Quoting geomink
{quote} So, here we go!!!
still half hour left!!already with adrenaline to start?! like me
hereee wee gooooooooooooooo
  • #50
  • Jun 16, 2013 3:37pm Jun 16, 2013 3:37pm
Awesome trading Geo,
hope it continues for you. Will be following as it gives me hope that this can be done.

Dave.
  • #51
  • Jun 16, 2013 3:59pm Jun 16, 2013 3:59pm
Quoting xandi
{quote} still half hour left!!already with adrenaline to start?! like me hereee wee gooooooooooooooo
Don't give up
  • #52
  • Jun 16, 2013 4:01pm Jun 16, 2013 4:01pm
Quoting TradingDrunk
Awesome trading Geo, hope it continues for you. Will be following as it gives me hope that this can be done. Dave.
Hey Dave,

welcome on board,

and thank you very much.

The best.

Geo
Don't give up
  • #53
  • Jun 17, 2013 12:34am Jun 17, 2013 12:34am
Quoting geomink
{quote} Hey Bull, I don't know that thread but I don't think so. I trade with small leverage (max. 10) and size ever. Nothing else about MM as you asked me. Hope it helps. The best. Geo
Alright. Just 3 questions.
1. So you are averaging down with scale in more positions to bring back the DD. May i know if you are averaging up too, by scaling in more positions in winning side?
2. I guess you are using big capital to achieve this?
3. May i know the reason that you delete your trade explorer?

Thanks.
  • #54
  • Edited 1:36am Jun 17, 2013 1:15am | Edited 1:36am
Quoting ~bull.bear~
1. So you are averaging down with scale in more positions to bring back the DD
I don't do it always; it's not mechanical, it depends on the circumstances



Quoting ~bull.bear~
May i know if you are averaging up too, by scaling in more positions in winning side?
no, never



Quoting ~bull.bear~
2. I guess you are using big capital to achieve this?
nope, less than 10.000




Quoting ~bull.bear~
3. May i know the reason that you delete your trade explorer?
I'll never delete it.
Simply, I deactivate it while I'm trading (cause I'm feeling right in this way) and reactivate it after ending day trading




Quoting ~bull.bear~
Thanks.
to you too
feel free to interacte
Don't give up
  • #55
  • Jun 17, 2013 1:20am Jun 17, 2013 1:20am
Geo

basically when you open a position what is the max SL you use ?
very interesting thread ...

Thank's
  • #56
  • Jun 17, 2013 1:35am Jun 17, 2013 1:35am
Quoting Redsunfx
Geo basically when you open a position what is the max SL you use ?
I don't have any predeterminate
I decide it at the moment




Quoting Redsunfx
very interesting thread ... Thank's
thanks to you too
Don't give up
  • #57
  • Jun 17, 2013 2:31am Jun 17, 2013 2:31am
Quoting geomink
{quote} I don't do it always; it's not mechanical, it depends on the circumstances {quote} no, never {quote} nope, less than 10.000 {quote} I'll never delete it. Simply, I deactivate it while I'm trading (cause I'm feeling right in this way) and reactivate it after ending day trading {quote} to you too feel free to interacte

Thanks for your input!

I think i have learned something from you. Let me explain my finding.
Example:
1. Looking at bigger time frame chart to spot the pattern (Uptrend,downtrend or sideway) - By using trendline and S/R
2.
a) For uptrend : Long only. Unless the position is lose then scale in more position to rescue the trade
b) For downtrend : Short only. Unless the position is lose then scale in more position to rescue the trade
c) For sideway : Long and short together. Unless the position is lose then scale in more position to rescue the trade
- There is some minor pull back for the respective scenario above. So this is the purpose for doing scale in.
3. Risk/account management : Purchase the smallest lot size. So 1 pip movement cost small result, and you can scale in more positions.

Risk
1. Zero risk if market price hold at the respective scenario above (Uptrend,downtrend or sideway). Because of doing averaging down.
2. Risk is only occurred when price break either one of the scenario above if you have the position in place. So to exit the trade and restart a new trade with new scenario.
3. There won't be margin call for doing averaging down because scenario manipulate the trade management. So example you won't do scale in long position for downtrend 1000 pips as scenario is changed.

I attached a picture to show the scenario/pattern of bigger time frame. You can see that where you are exactly doing averaging down.
Thanks.
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  • #58
  • Jun 17, 2013 2:48am Jun 17, 2013 2:48am
Quoting ~bull.bear~
2. Risk is only occurred when price break either one of the scenario above if you have the position in place. So to exit the trade and restart a new trade with new scenario.
These are the possible loser days.
So, what?
Do you mind if - as to say - have four days with 300 wins and one day with 500 loss?
What's the problem having 700 plus then earlier week?

Isn't so simple?

Don't give up
  • #59
  • Jun 17, 2013 3:19am Jun 17, 2013 3:19am
Quoting geomink
{quote} I don't have any predeterminate I decide it at the moment {quote} thanks to you too
I understand that there is no one rule fit all setups , but my question Geo is in any case what is the Maximum risk % or Maximun Pips you are willing to take per trade ?

thank's for your patience
  • #60
  • Jun 17, 2013 3:21am Jun 17, 2013 3:21am
Quoting Redsunfx
{quote} I understand that there is no one rule fit all setups , but my question Geo is in any case what is the Maximum risk % or Maximun Pips you are willing to take ?
I don't have any
I decide at the moment



Quoting Redsunfx
thank's for your patience
no problem at all
Don't give up
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