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  • #821
  • Jan 14, 2014 7:19am Jan 14, 2014 7:19am
Quoting luesak
60, Another woe... same story +50pips to now almost nil with USDCHF? When do I exit? {image}
Go back and read the posts about expectancy
tradewith60
  • #822
  • Jan 14, 2014 7:21am Jan 14, 2014 7:21am
Quoting 60minuteman
{quote} Monthly trend : long weekly short to monthly SR. Price came close to monthly SR and turned... (within 50 pips of a 700 pip monthly bar) Were you looking for price to go through the monthly SR?
60,
I guess I wasn't paying attention to the monthly trend!!... I was having the idea that I wanted to hold this for as long as possible... you know let the winners run... You see that big red bar with the long tail? I was watching it fall like a rock.. I watched it stall at the 2 monthly S/R (blue dotted lines)... but I wasn't awake to watch the close of the bar... But let's say if I was and I saw it close like it did...

How would you have exited? Right at the open of the new bar?

Thanks

Kim
  • #823
  • Jan 14, 2014 7:23am Jan 14, 2014 7:23am
Quoting luesak
60, Another woe... same story +50pips to now almost nil with USDCHF? When do I exit? {image}
Because you will not removing part of the profits and let another take part.
do not forget to put Affairs at zero to zero once it has an outlet on profit.
I hope you understand what I mean.
greetings,
JVBS
Work very hard until you get there (excuse my english)
  • #824
  • Jan 14, 2014 7:24am Jan 14, 2014 7:24am
EX: First TP reached.
Two other positions already at breakeven, to see what will happen next.
First TP reached very fast.

Attached Image (click to enlarge)
Click to Enlarge Name: imagem USDCAD H1.png Size: 17 KB


JVBS
Work very hard until you get there (excuse my english)
  • #825
  • Jan 14, 2014 7:26am Jan 14, 2014 7:26am
Quoting jvbs
{quote} Because you will not removing part of the profits and let another take part. do not forget to put Affairs at zero to zero once it has an outlet on profit. I hope you understand what I mean. greetings, JVBS
jbvs,

Do you make exit part of the trade... move remainder to breakeven and then attempt to let it run?
That was my initial thought that's why I decided to enter multiple times (as you can see by the multiple green lines).
I did that so that I could exit partially... now you reminded me... I was too greedy... I could have exited some.

Kim
  • #826
  • Jan 14, 2014 7:26am Jan 14, 2014 7:26am
Hi .., updated trade today.

Attached Image (click to enlarge)
Click to Enlarge Name: imagem 01 USDCAD H1.png Size: 25 KB


JVBS
Work very hard until you get there (excuse my english)
  • #827
  • Jan 14, 2014 7:30am Jan 14, 2014 7:30am
Quoting luesak
{quote} jbvs, Do you make exit part of the trade... move remainder to breakeven and then attempt to let it run? That was my initial thought that's why I decided to enter multiple times (as you can see by the multiple green lines). I did that so that I could exit partially... now you reminded me... I was too greedy... I could have exited some. Kim

I hope it was clear, the logic behind of this system is do just that.

JVBS
Work very hard until you get there (excuse my english)
  • #828
  • Jan 14, 2014 7:34am Jan 14, 2014 7:34am
You have to change how you think about trading.

Have a look at these trade results from a trader in the skype room... would you equate those win rates with a winning strategy? could you handle those consecutive losses? can you let trades run?

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-01-14 at 13.31.00.png Size: 129 KB


as long as you hold onto the need to win all the time then your profits will suffer, take small risks, let them run,
tradewith60
  • #829
  • Jan 14, 2014 7:37am Jan 14, 2014 7:37am
Quoting luesak
{quote} 60, I guess I wasn't paying attention to the monthly trend!!... I was having the idea that I wanted to hold this for as long as possible... you know let the winners run... You see that big red bar with the long tail? I was watching it fall like a rock.. I watched it stall at the 2 monthly S/R (blue dotted lines)... but I wasn't awake to watch the close of the bar... But let's say if I was and I saw it close like it did... How would you have exited? Right at the open of the new bar? Thanks Kim
If you can let everything run you will make great profits, but you will also have to accept some trades coming back and stopping out... it's how i trade, low win rate, big rewards...
tradewith60
  • #830
  • Jan 14, 2014 7:42am Jan 14, 2014 7:42am
Quoting 60minuteman
{quote} If you can let everything run you will make great profits, but you will also have to accept some trades coming back and stopping out... it's how i trade, low win rate, big rewards...
60,

Thanks for clearing that up!!! I went back and look at the expectancy chart... but didn't really get it. So thanks for clearing it up...

I'll keep at it... I'll get it one day.

Lucky I'm on Demo Acct!!!!

Kim
  • #831
  • Jan 14, 2014 8:08am Jan 14, 2014 8:08am
Quoting luesak
{quote} 60, Thanks for clearing that up!!! I went back and look at the expectancy chart... but didn't really get it. So thanks for clearing it up... I'll keep at it... I'll get it one day. Lucky I'm on Demo Acct!!!! Kim
this video might help...

take small risks and let them run.....

Inserted Video


this doesn't mean we ignore context, we use that to find the locations where and when these runs are most likely going to occur...
tradewith60
  • #832
  • Jan 14, 2014 8:42am Jan 14, 2014 8:42am
Quoting 60minuteman
{quote} this video might help... take small risks and let them run..... http://www.youtube.com/watch?v=-XrE3...ature=youtu.be this doesn't mean we ignore context, we use that to find the locations where and when these runs are most likely going to occur...
60 minuteman again, simply astounding.
Thanks.
JVBS
Work very hard until you get there (excuse my english)
  • #833
  • Jan 14, 2014 8:44am Jan 14, 2014 8:44am
Quoting 60minuteman
{quote} this video might help... Take small risks and let them run..... http://www.youtube.com/watch?v=-xre3...ature=youtu.be this doesn't mean we ignore context, we use that to find the locations where and when these runs are most likely going to occur...
.... Another example luesak on ej.. Look at the win rate, look at the strings of losers, look at the profits

TRADING IS ALL ABOUT GETTING TO THAT 3RD CONSECUTIVE LOSS AND CONTINUING

Attached Image (click to enlarge)
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tradewith60
  • #834
  • Jan 14, 2014 8:56am Jan 14, 2014 8:56am
Here in forex has a problem in relation to trading stocks, forex does not sleep, but we have to sleep.
Actions sleep as we also need sleep. just a thought.
In forex unable get as much as we like engulf all.
JVBS
Work very hard until you get there (excuse my english)
  • #835
  • Jan 14, 2014 9:12am Jan 14, 2014 9:12am
Quoting 60minuteman
{quote} this video might help... take small risks and let them run..... http://www.youtube.com/watch?v=-XrE3...ature=youtu.be this doesn't mean we ignore context, we use that to find the locations where and when these runs are most likely going to occur...
60!!!

This is crazy... never seen anything like this... never thought about it this way... your thinking is so advanced!!! This video turned on a whole new paradigm for me... let me do some review of the various charts and various TFs...

I'm downloading and archiving this video...

Thanks!


Kim
  • #836
  • Jan 14, 2014 9:25am Jan 14, 2014 9:25am
Quoting luesak
{quote} 60!!! This is crazy... never seen anything like this... never thought about it this way... your thinking is so advanced!!! This video turned on a whole new paradigm for me... let me do some review of the various charts and various TFs... I'm downloading and archiving this video... Thanks! Kim

luesak
It is one of the few forms that one can be successful in the markets.
form = super60minuteman .... lol
JVBS
Work very hard until you get there (excuse my english)
  • #837
  • Jan 14, 2014 1:15pm Jan 14, 2014 1:15pm
Quoting 60minuteman
{quote} Hi pat, you need to be more reactive and less predictive. Don't pass a possible monthly low because the market hasn't done what you predicted it might. I just closed out over 900 pips on GJ short and left another 540 open from a punt I took on the monthly high last week (2nd jan). There was no reason to take the trades other than price action, all the analysis and SR prediction gave me a context of what might happen but that information is just there to aid me with exits, my entries I except will mostly die, but I know I will get the trends...

hmmm.....

you're suggesting touch trading at HTF strong levels of support and resistance, in the direction of the trend, based on how price reacts to the aforementioned levels?
sounds interesting...
Low win rate, little risk, high to very high reward. Keeping things dynamic, waiting for the good price at the good time...
Entries are only a little part of the equation, agreed...

Definitively sounds interesting
Slow & steady
  • #838
  • Jan 14, 2014 2:08pm Jan 14, 2014 2:08pm
nice push off the monthly SR on GJ... the power of higher TF trend perfectly demonstrated today...

Doing exactly what we expected at the start of the week..

might even engulf on daily...
Attached Image (click to enlarge)
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tradewith60
  • #839
  • Jan 14, 2014 2:53pm Jan 14, 2014 2:53pm
Hey 60, I've seen that you always speak in terms of pips.

Till now I was teached to think in terms of equity %. So I have always adjusted my lot size depending on my Stop loss placement.
For me a loss was always 2%, doesn't matter the pips number.

Do you do the same or you trade with a fixed lot size?

Hope my question to be clear.

Off Topic: How do you trade with MT$ on a mac? I'm a mac user too but for MT4 I need to go with bootcamp and windows unfortunately
  • #840
  • Jan 14, 2014 3:48pm Jan 14, 2014 3:48pm
Quoting lucariga
Hey 60, I've seen that you always speak in terms of pips. Till now I was teached to think in terms of equity %. So I have always adjusted my lot size depending on my Stop loss placement. For me a loss was always 2%, doesn't matter the pips number. Do you do the same or you trade with a fixed lot size? Hope my question to be clear. Off Topic: How do you trade with MT$ on a mac? I'm a mac user too but for MT4 I need to go with bootcamp and windows unfortunately
Hi Luca.... I used to go with the %age thing, and that is good, but once you're consistent it really makes no odds. With regards risk per trade, I use a fixed amount, so instead of 1% or 2% I will say $100 or $200 per trade, that way you're consistent in the amount you are risking instead of it varying with your balance.

I use paralells with windows xp to run mt4, I don't have any issues with it, I run it on an imac, a macbook pro and my mac air, it's really the best of both worlds.
tradewith60
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