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  • #81
  • Jun 20, 2013 7:30am Jun 20, 2013 7:30am
Quoting Smokeymar
Impressive!

will it continue?

who knows!!

Don't give up
  • #82
  • Jun 21, 2013 11:57am Jun 21, 2013 11:57am
Happy weekend to all buddies!!!!

:-D
Don't give up
  • #83
  • Jun 21, 2013 12:43pm Jun 21, 2013 12:43pm
Quoting mmaker
Your returns are very consistent, about 7% on most days except for that Black Monday and recovery day. Do you have a daily goal fixed around 7%?
Yes I have mmaker

but it's very hard achieve it (as for today)

In any case I've got a plane: more will be the gain, less will be the percentage daily target. Obviously.

The best.

Geo
Don't give up
  • #84
  • Jun 21, 2013 3:20pm Jun 21, 2013 3:20pm
your results make me smile. : )

You are like the wise old wizard. Many come to seek your ways. You answer in riddles that make no sense at first, but then later they make perfect sense.
  • #85
  • Jun 21, 2013 4:05pm Jun 21, 2013 4:05pm
Quoting mikeinaa
your results make me smile. : ) You are like the wise old wizard. Many come to seek your ways. You answer in riddles that make no sense at first, but then later they make perfect sense.
WOW!!

Don't give up
  • #86
  • Jun 22, 2013 1:25am Jun 22, 2013 1:25am
Is there any way to avoid taking that first loss? I've been thinking about how much room to give for the initial entry, so that the hard stop can be placed further away. As the subsequent 4 entries were all winners, what if we use a wider stop of 150 to 200pips sized to at most 5% of equity so as not to hurt the account too much?
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No longer trading forex. Looking for full time job.
  • #87
  • Jun 22, 2013 2:26am Jun 22, 2013 2:26am
Quoting mmaker
Is there any way to avoid taking that first loss?
who knows before?
we don't know where and when the market will react
if I'd kept the position I did end in gain in any case
I did prefer cut the loss and restart

maybe, the greater mistake was instead not let the winner position running more at the end, but, as I wrote. who knows!!!

it's every simple say it AFTER things happened!



Quoting mmaker
what if we use a wider stop of 150 to 200pips sized to at most 5% of equity so as not to hurt the account too much? {image}
It would be a good choice
But, who knows!

In any case, yesterday was a strange difficult day
third friday of july (as for march, semptember and december) is a technical closed expiration position day
in these days, everything can happen and the market seems more irrational than usual

btw, closed the day with + 5%; isn't fine anyway??

Don't give up
  • #88
  • Jun 22, 2013 11:45am Jun 22, 2013 11:45am
Quoting mmaker
{quote} That's the thing I've been trying to figure out. Your recovery scale-in 4 trades actually made more money (over +15%) than your initial entry's loss (-8%). In fact, going through all your trades in detail I found that your scale-in method actually made the bulk of your +189% gain. So your initial entry was necessarily late as you waited for your system to confirm the trigger and had to suffer the pullback, which in above trade took the -74pips loss. If you were right in your entry then the gain is very small in comparison (with only 1 position),...
The point is different, in my opinion.

The great mistake was not taking profit after the first position.

You CAN NOT trading intraday such this way and NOT CLOSE the position after almost 25/30 pips gain. Close the trade and find another one.

Too greedy? So punished. And in fact the punishment has arrived.

Hope it explaine my self convinction
Don't give up
  • #89
  • Jun 22, 2013 12:38pm Jun 22, 2013 12:38pm
Quoting mmaker
Is there any way to avoid taking that first loss?
The answer is YES!

Taking profit after 25/30 pips gain, as right in this case and not beeing so greedly as I was!

Hope is more clear.

:-D
Don't give up
  • #90
  • Jun 22, 2013 1:28pm Jun 22, 2013 1:28pm
Quoting mmaker
I guess I'm just looking for solution to deal with that -70pips drawdown and not have to take the hard stop loss, in the event that the entry was bad
Another solution could be exit all @ be after opening the second position, when (and if) the market hit the medium price between the two positions.

Has it sense?

:-D
Don't give up
  • #91
  • Jun 23, 2013 6:35pm Jun 23, 2013 6:35pm
hi geo

can you explain how do you scale in & scale out positions a little more clearly please ?

i did try out to float small orders before jumping in to actual lot size to gauge market direction first & then scale in adding 20 % each time to positions but at some point of time, when it didn't work out, i just started with trading just 0.1 lots FLAT for all trades instead of scaling in upto 1 full lot.


can you throw some light on your scaling teachnique.


thanks & regards
  • #92
  • Jun 24, 2013 3:19am Jun 24, 2013 3:19am
Quoting .Hawk.
hi geo can you explain how do you scale in & scale out positions a little more clearly please ? i did try out to float small orders before jumping in to actual lot size to gauge market direction first & then scale in adding 20 % each time to positions but at some point of time, when it didn't work out, i just started with trading just 0.1 lots FLAT for all trades instead of scaling in upto 1 full lot. can you throw some light on your scaling teachnique. thanks & regards
Hey Hawk,

I don't have a rigid standard method to scale.

It depends on the circumstances and on the market.

In general terms I'd prefer hit a single target with only one position.

When I scale, I "suppose" the market is trending yet, so I seek some retracement to entry, but, in any case, not in a fixed distance from each position to other.

Btw, I think, we trader must have a complete set of techniques, in order to adapte them at the market condition.

That's why I trade totally manually.

Happy pips.

G
Don't give up
  • #93
  • Jun 24, 2013 4:42am Jun 24, 2013 4:42am
Geo

I understand the way you manage your MM , but could you give us a hint , about the signal you use to open a position , you are talking about PA but could you be kind enough to give us some tips please, how do you decide going long or short ?
  • #94
  • Edited 7:57am Jun 24, 2013 7:39am | Edited 7:57am
Quoting Redsunfx
Geo I understand the way you manage your MM , but could you give us a hint , about the signal you use to open a position , you are talking about PA but could you be kind enough to give us some tips please, how do you decide going long or short ?
Red,

- I try to understand the trend of the day (long, short, range) for each pair I trade;
- I try to figure out what are the stronger currency versus the weakers and viceversa;

- I tend to trade only in trend,

so

- When I see a strong move according to the previous points I wrote above, I enter in the opposite direction.

For istance: if, as to say, I suppose eur is strong and jpy is weak, I'll search an enter after jpy has done a strong move.

BUT!!!!!!

I CAN NOT avoid the losses.

This is to be clear! Noone knows what will the market go after open a position.

So, this kind of trading is totally manually and discretionary; and (I suppose) it's not a way just for totally newbies

No way to make it mechanical.

Hope it helps.

Green pips to you.

Geo
Don't give up
  • #95
  • Jun 24, 2013 9:03am Jun 24, 2013 9:03am
Quoting mmaker
{quote} geomink, Can you clarify this point about JPY "weak" or "strong"? If you trade only in direction of trend, then why enter the opposite direction? If EUR is strong and JPY is weak, then EUR/JPY pair would be trending up so the entry is a buy. Are you saying you will buy on pullback?
I think what he was trying to say is current EUR is strong and JPY is weak. He will look for the JPY pair itself to check if it is strong movement at the moment, it might be counter trend for itself. So when EUR and JPY is strong, EUR/JPY should behave sideway movement or no trend, so this is the right time to enter the position.
  • #96
  • Jun 24, 2013 9:10am Jun 24, 2013 9:10am
Quoting mmaker
Are you saying you will buy on pullback?
Yes, I am!

sorry for writing with my feet

Don't give up
  • #97
  • Jun 24, 2013 9:12am Jun 24, 2013 9:12am
Quoting ~bull.bear~
{quote} I think what he was trying to say is current EUR is strong and JPY is weak. He will look for the JPY pair itself to check if it is strong movement at the moment, it might be counter trend for itself. So when EUR and JPY is strong, EUR/JPY should behave sideway movement or no trend, so this is the right time to enter the position.
Nope Bull,

I meant in this case I would buy on pullback.

Don't give up
  • #98
  • Jun 24, 2013 9:25am Jun 24, 2013 9:25am
Quoting mmaker
{quote} "EUR" or "JPY" don't exist by itself. It is a base vs quote pairing, so you are trading EUR/JPY. I don't understand what you mean by looking for "JPY pair" because there is no single component chart. It has to be paired with another currency in order to describe the strong movement or countertrend movement you mentioned, i.e. strong vs which currency? weak vs which currency? He wasn't talking about EUR/JPY being sideways or no trend, he clearly said EUR strong vs JPY weak and he trades in direction of the trend. You are saying to enter...
Forget it.
It referred to JPY/USD. If JPY/USD and EUR/USD are strong, then EUR/JPY consider as no trend.
  • #99
  • Jun 25, 2013 3:57am Jun 25, 2013 3:57am
ordinary tuesday ..............................
Don't give up
  • #100
  • Edited 4:37am Jun 25, 2013 4:09am | Edited 4:37am
Quoting geomink
ordinary tuesday ..............................
Masterfully done! This is your 17th "ordinary" daily gain and I'm impressed/amazed/intrigued that you can always achieve that 7% equity growth consistently (except for that Black Monday and next recovery day). I hope you can teach us how to do that. 5 to 7% a day every day is really really good income and wealth generator.
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No longer trading forex. Looking for full time job.
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