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  • #892,761
  • Apr 26, 2014 1:31pm Apr 26, 2014 1:31pm
Quoting Davit
{quoteIts better to have multiple positions in smaller lots then 1 big lot.I don't fear the market.I never think about gaps ever!I sleep without worry and collect decent profits without sweating. You need to work a system that makes trading profitable and fun without stress. Regards
A good trader follows his rules, but great trader knows when to break them
  • #892,762
  • Apr 26, 2014 1:44pm Apr 26, 2014 1:44pm
I have been working on perfecting my system and I'll throw few ideas out there

Each swing is looked upon as batch of trades.

1 batch 10-15 trades

You measure your success not on each trade and not even 1 batch of trades (swing)
but series of batch of trades

say 10 batch of trades 100-150trades
and I am confident you will show profit.
SL $500 for example for each batch.

Looking trading like looking at planets as batches and quarter 3 months of batches as 1 galaxy
When looking like this your overview what constitutes successful changes dramatically.You are not bagged down feeling shit because of one lousy loss.
Heck you can even lose entire batch of trades and still show profit in quarter consist of 10batches of trades

I have been thinking a lot what is one constant in PA
Price never goes straight up or down.That's one constant.That's the holly grail
In trading, you have to be defensive and aggressive at the same time
  • #892,763
  • Apr 26, 2014 1:45pm Apr 26, 2014 1:45pm
Quoting ffleo
{quote} there is a big disadvantage of taking a hard stop and then enter again later. What position size to enter later? the same position size? If you are stopped out for 50 pips loss, you will have to wait for a 50 pips better price to enter again with the same position size to be same efficient to get you loss back as you cost averaging
for example, if I was hard stopped out for a loss of 50 pips, and if I enter with the same position size at 30 pips better price, I would need to run this one position also 50 pips retrace to get the previous loss back. What if I do not have a hard stop for the first position, instead I enter another one 30 pips later? Now I have 80 pips loss for the first position but I have two positions for the retrace, so I only need a retrace of 40 pips to get break even as compared to the original need of a 50 pips retrace. Also I have more options for what to do with the added position. I can let it retrace 20 pips and take it off, or let it retrace 50 or 60 pips and take it off, and keep the original one to continue running afterwards.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #892,764
  • Apr 26, 2014 1:53pm Apr 26, 2014 1:53pm
Quoting ffleo
{quote} for example, if I was hard stopped out for a loss of 50 pips, and if I enter with the same position size at 30 pips better price, I would need to run this one position also 50 pips retrace to get the previous loss back. What if I do not have a hard stop for the first position, instead I enter another one 30 pips later? Now I have 80 pips loss for the first position but I have two positions for the retrace, so I only need a retrace of 40 pips to get break even as compared to the original need of a 50 pips retrace. Also I have more options...
but do not let cost averaging run against you for too long for too far price move against you. Identifying the place to enter for the initial entry point and starting with small positions are the key.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #892,765
  • Apr 26, 2014 1:53pm Apr 26, 2014 1:53pm
Quoting ffleo
{quote} for example, if I was hard stopped out for a loss of 50 pips, and if I enter with the same position size at 30 pips better price, I would need to run this one position also 50 pips retrace to get the previous loss back. What if I do not have a hard stop for the first position, instead I enter another one 30 pips later? Now I have 80 pips loss for the first position but I have two positions for the retrace, so I only need a retrace of 40 pips to get break even as compared to the original need of a 50 pips retrace.
What if it still go against you.
Your account will blew up!
I have been there.
Most of traders lose because couldn't take a loss.
I'm the same here.
Been gaining but lose back in 1 or 2 positions.
You can be right but wrong timing can still kill you.
You don't wanna be underwater first.
I rather try to find a system or something.
To make 70-80% when enter a trade I'm positive first
even for 5 pips or more
  • #892,766
  • Apr 26, 2014 1:54pm Apr 26, 2014 1:54pm
Quoting aarontdang
{quote} What if it still go against you. Your account will blew up! I have been there. Most of traders lose because couldn't take a loss. I'm the same here. Been gaining but lose back in 1 or 2 positions. You can be right but wrong timing can still kill you. You don't wanna be underwater first. I rather try to find a system or something. To make 70-80% when enter a trade I'm positive first even for 5 pips or more
see the post immediately above. I answered faster than you posted. lol
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #892,767
  • Apr 26, 2014 1:58pm Apr 26, 2014 1:58pm
Quoting aarontdang
{quote} What if it still go against you. Your account will blew up! I have been there. Most of traders lose because couldn't take a loss. I'm the same here. Been gaining but lose back in 1 or 2 positions. You can be right but wrong timing can still kill you. You don't wanna be underwater first. I rather try to find a system or something. To make 70-80% when enter a trade I'm positive first even for 5 pips or more
always remember to reduce position size to reduce risk on retraces. You do not have to wait for all entries to be positive to close out your total trades. Keep your total risk under control, price will always come back to your BE point, and possibly move further in your favor. A broken clock is correct 2 times in 24 hours. As long as your total risk is well under controlled below 24 hours risk range, you will be right 2 times.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #892,768
  • Apr 26, 2014 2:00pm Apr 26, 2014 2:00pm
Quoting ffleo
{quote} always remember to reduce position size to reduce risk on retraces. You do not have to wait for all entries to be positive to close out your total trades. Keep your total risk under control, price will always come back to your BE point, and possibly move further in your favor.
Funny how people just don't get this simple fact.Trade small.
In trading, you have to be defensive and aggressive at the same time
  • #892,769
  • Apr 26, 2014 2:03pm Apr 26, 2014 2:03pm
Quoting Davit
{quote} Funny how people just don't get this simple fact.Trade small.
yeah, trading small is to control total risk for 24 hours window of a broken clock that will be correct twice in that window

Also if the broken clock has NOT being correct for 11 hours 59 minute 59 second, it will be correct 2 times for next 12 hours and 1 second, that is the time I need to enter for higher probability, that is if the price has moved too far in one direction busting many levels without retraces, that is the time I should look for entry looking for reverses.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #892,770
  • Apr 26, 2014 2:06pm Apr 26, 2014 2:06pm
Just want to say everyone is different and everyone has different risk tolerance.
Trade as you like

See you next week
In trading, you have to be defensive and aggressive at the same time
  • #892,771
  • Apr 26, 2014 2:22pm Apr 26, 2014 2:22pm
Quoting Davit
{quote} Funny how people just don't get this simple fact.Trade small.
it is like a woman carry one baby, twin, or triplets, that is still ok. Wow, let a woman carry 5, 6, or 7 babies? that is going to be hard on the woman.
the woman carrying one baby can go full term. Let a woman carrying 7 babies go to full term with all babies healthy? Very hard.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #892,772
  • Apr 26, 2014 2:32pm Apr 26, 2014 2:32pm
Quoting ffleo
{quote} it is like a woman carry one baby, twin, or triplets, that is still ok. Wow, let a woman carry 5, 6, or 7 babies? that is going to be hard on the woman. the woman carrying one baby can go full term. Let a woman carrying 7 babies go to full term with all babies healthy? Very hard.
Dude...

Your crazy talk is getting away from you...if it was your goal to hit "Batshit Crazy", for today, Mission Accomplished.

Take the rest of the day off!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #892,773
  • Apr 26, 2014 3:35pm Apr 26, 2014 3:35pm
Quoting ffleo
{quote} always remember to reduce position size to reduce risk on retraces. You do not have to wait for all entries to be positive to close out your total trades. Keep your total risk under control, price will always come back to your BE point, and possibly move further in your favor. A broken clock is correct 2 times in 24 hours. As long as your total risk is well under controlled below 24 hours risk range, you will be right 2 times.
Not in Europe...only once

If we consider the 12(AM-PM) or 24
COT: The precious data ignored
  • #892,774
  • Apr 26, 2014 7:00pm Apr 26, 2014 7:00pm
Quoting ffleo
{quote} it is like a woman carry one baby, twin, or triplets, that is still ok. Wow, let a woman carry 5, 6, or 7 babies? that is going to be hard on the woman. the woman carrying one baby can go full term. Let a woman carrying 7 babies go to full term with all babies healthy? Very hard.
With my all five wives, I can safely carry more than many can
The Thief of Wall Street
  • #892,775
  • Apr 26, 2014 7:16pm Apr 26, 2014 7:16pm
Quoting Kanzler
I don't comment much on these threads as I don't like to share charts much anymore.
Do not be too sure, but welcome back anyway ...
"It's the Margin, Stupid."
  • #892,776
  • Apr 26, 2014 10:49pm Apr 26, 2014 10:49pm
Quoting Magix
{quote} What do you want to know KW? How to code? How they work? Which ones to use? In the Platform Tech Section here, there is a lot of information as well as a zillion posts by Hopwood...That's where I got my feet wet with these. I think you already probably know the basics with Automated trading, you maybe just haven't delved deep into the subject before. Really, all they are typically designed to do, is to take triggers when they are told and profit as is dictated and replace the human factors of trading. When you go to take a trade, you analyze...
Jesus, I'm in this hobby for more than 9 years now and still gotta learn a lot!
New voice message: Why are you calling me? If I need you, I'll call you!
  • #892,777
  • Apr 26, 2014 11:10pm Apr 26, 2014 11:10pm
Quoting KillerWhale
{quote} Jesus, I'm in this hobby for more than 9 years now and still gotta learn a lot!
One learns when stops teaching
The Thief of Wall Street
  • #892,778
  • Apr 27, 2014 12:00am Apr 27, 2014 12:00am
Quoting Davit
{quote} Hi Kanzler I stopped worrying what retail traders do.I have won so many short positions where retail was hugely short that I no longer think its relevant. Recent examples NU vast majority retail short from 86+and guess what it plunged down hard AU 93+vast majority retail short and it plunged down hard To me its simply liquidity strength.Retail positions are simply not big enough money wise to move anything so to me its irrelevant. So far I have not found conclusive evidence to suggest fading retail majority positions is profitable or has...
Hi Davit, good to see you again. I guess we'll see what happens.
  • #892,779
  • Apr 27, 2014 12:51am Apr 27, 2014 12:51am
Quoting Kanzler
{quote} Hi Davit, good to see you again. I guess we'll see what happens.
all the best
In trading, you have to be defensive and aggressive at the same time
  • #892,780
  • Apr 27, 2014 12:59am Apr 27, 2014 12:59am
Quoting Davit
{quote} all the best
Likewise.
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