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  • #1,003,641
  • Jun 23, 2015 6:05pm Jun 23, 2015 6:05pm
Quoting navk
{quote} When you open a position say long at 1.1140. You will aim for stop loss - 30 pips. If the trade goes against you more than let us say - 30 pips, then you have to recover the first opened trade with additional lots so that you recover the whole bunch of trades into green.
what do you do when price goes against you 2500 pips in 5 minutes? :nerd:
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When life gives you lemons, make lemonade
  • #1,003,642
  • Jun 23, 2015 6:08pm Jun 23, 2015 6:08pm
Quoting micho
{quote} what do you do when price goes against you 2500 pips in 5 minutes? :nerd: {image}
I loose my account. I lost like this many times, how many times you lost in 2500 pips movement ?

Yeah it has been the case some 6 or 7 years back, to be correct in year 2008, the price moves very volatile especially jpy pairs.
Intraday only.
  • #1,003,643
  • Jun 23, 2015 6:11pm Jun 23, 2015 6:11pm
Quoting navk
{quote} When you open a position say long at 1.1140. You will aim for stop loss - 30 pips. If the trade goes against you more than let us say - 30 pips, then you have to recover the first opened trade with additional lots so that you recover the whole bunch of trades into green.
That is very-very old trade style.
In school we have learn't at "applied mathematics" very similar like this and this is one of most myth winning strategies at casinos:
Put a bet 1 on red.(1 lop on up 30 pip)
If you win then you earn 2x, so your profit it is 1.
The next bet will be 1. It really doesn't matter if red or black. ( up or down)
If you loose, then you lost 1.
Next put 2 in the same direction. Again at the casino it doesn't matter if red or black, maybe here it has a relation on consecutive up or not.
If you win you earn 4, but you had the cost 1+2, so your profit it is 4-3 =1.
If you loose again you put 8
If you loose again you put 16
If you loose again you put 32 and so on.
It is power of 2. At the final you earn 1.
2 at the power of 10 it is 1024.

Now if you open the trades at equity charts this has the smothers triangle with some loops.
The trader can tell for himself and for they investors: hey look what a nice equity curse I learnt to trade perfectly it is safe.

Since the 11th trade has only the 1024 the trader, gamer has a 1/1024 chance to loose. Which is small- or not.
That's why I don't look at those equity curves which doesn't have 500 trades and not with fire helmet, because if you have opened 100 small trade in 2 days instead of 1-4 that is still not 100 trade.

At the 1/1024 chance you loose and you loose a lot.
For sure it is here somebody with math formulas and he can prove it: in the long term this has the same probability as you would "play" with 1 size, but higher is the number bigger will be the drawdown percentage, when it will happen. And at 3000 trade it will happen that one which has 1/1024 probability

So my advice is to do it, but at demo account until you see I am right , but not at live account
I want to buy PATIENCE
  • #1,003,644
  • Jun 23, 2015 6:12pm Jun 23, 2015 6:12pm
Quoting navk
{quote} When you open a position say long at 1.1140. You will aim for stop loss - 30 pips. If the trade goes against you more than let us say - 30 pips, then you have to recover the first opened trade with additional lots so that you recover the whole bunch of trades into green.
ok, do you mean that the additional lots are longs too ?
  • #1,003,645
  • Jun 23, 2015 6:13pm Jun 23, 2015 6:13pm
Quoting micho
{quote} what do you do when price goes against you 2500 pips in 5 minutes? :nerd: {image}
sit back and relax?
  • #1,003,646
  • Jun 23, 2015 6:13pm Jun 23, 2015 6:13pm
Quoting Ata-Turkoglu
Fib 61.8 tested 3 times so far.. could be triple bottom on 5m... so I risked a long at 1.1155 Happy Trades
SL at 1.1160 now

Happy Trades
Focus only on what truly matters!
  • #1,003,647
  • Jun 23, 2015 6:18pm Jun 23, 2015 6:18pm
Quoting navk
{quote} I loose my account. I lost like this many times, how many times you lost in 2500 pips movement ? Yeah it has been the case some 6 or 7 years back, to be correct in year 2008, the price moves very volatile especially jpy pairs.
it happens every year... i use stop loss with RR above 2 so i don't lose my account when some bank decides to mess around people's money
btw the pic is from jan 15 2015 (SNB bullshit as usual)
When life gives you lemons, make lemonade
  • #1,003,648
  • Jun 23, 2015 6:19pm Jun 23, 2015 6:19pm
Quoting KGP
{quote} sit back and relax?
and enjoy the ride lol
When life gives you lemons, make lemonade
  • #1,003,649
  • Jun 23, 2015 6:19pm Jun 23, 2015 6:19pm
Quoting bizzbastian
{quote} ok, do you mean that the additional lots are longs too ?
Initially yes. But if it still goes against you, there are only 2 options. Get out and take loss or hedhe all positions. I some how prefer against hedging. Those days ( in my initial days ) I used to hedge, now no more.
Intraday only.
  • #1,003,650
  • Jun 23, 2015 6:22pm Jun 23, 2015 6:22pm
Quoting micho
{quote} it happens every year... i use stop loss with RR above 2 so i don't lose my account when some bank decides to mess around people's money btw the pic is from jan 15 2015 (SNB bullshit as usual)
SNB event did not honor stop losses I believe.
Intraday only.
  • #1,003,651
  • Jun 23, 2015 6:23pm Jun 23, 2015 6:23pm
Quoting navk
{quote} SNB event did not honor stop losses I believe.
i dont know i didnt trade during that period, but for sure using a stop loss that will be honored with some slippage is better than not using any
When life gives you lemons, make lemonade
  • #1,003,652
  • Jun 23, 2015 6:23pm Jun 23, 2015 6:23pm
Quoting navk
{quote} Initially yes. But if it still goes against you, there are only 2 options. Get out and take loss or hedhe all positions. I some how prefer against hedging. Those days ( in my initial days ) I used to hedge, now no more.
ok thank you. Yes I hedge sometimes too although I know it would be better to close and enter again...
  • #1,003,653
  • Jun 23, 2015 6:24pm Jun 23, 2015 6:24pm
Quoting matheszabi
{quote} That is very-very old trade style. In school we have learn't at "applied mathematics" very similar like this and this is one of most myth winning strategies at casinos: Put a bet 1 on red.(1 lop on up 30 pip) If you win then you earn 2x, so your profit it is 1. The next bet will be 1. It really doesn't matter if red or black. ( up or down) If you loose, then you lost 1. Next put 2 in the same direction. Again at the casino it doesn't matter if red or black, maybe here it has a relation on consecutive up or not. If you win you earn 4, but...
My reply :
Intraday only.
  • #1,003,654
  • Jun 23, 2015 6:28pm Jun 23, 2015 6:28pm
Quoting Ata-Turkoglu
{quote} SL at 1.1160 now Happy Trades
Tp where??
  • #1,003,655
  • Jun 23, 2015 6:31pm Jun 23, 2015 6:31pm
Quoting Ata-Turkoglu
{quote} SL at 1.1160 now Happy Trades
when Tokyo opens, they try to go in the same direction as NY. Then they realize, they have to retrace first to allow Europeans to break support.

So my stop still remains 1140.
Intraday only.
  • #1,003,656
  • Jun 23, 2015 6:33pm Jun 23, 2015 6:33pm
Quoting micho
{quote} i dont know i didnt trade during that period, but for sure using a stop loss that will be honored with some slippage is better than not using any
So much of talks after SNB. Lots of traders had negative balance, and Brokers sued traders to pay the amount back.
Intraday only.
  • #1,003,657
  • Jun 23, 2015 6:40pm Jun 23, 2015 6:40pm
Quoting matheszabi
{quote} That is very-very old trade style. In school we have learn't at "applied mathematics" very similar like this and this is one of most myth winning strategies at casinos: Put a bet 1 on red.(1 lop on up 30 pip) If you win then you earn 2x, so your profit it is 1. The next bet will be 1. It really doesn't matter if red or black. ( up or down) If you loose, then you lost 1. Next put 2 in the same direction. Again at the casino it doesn't matter if red or black, maybe here it has a relation on consecutive up or not. If you win you earn 4, but...
what you want to say ? i read briefly and you write about martingale. a recovery trade is no martingale system.
  • #1,003,658
  • Jun 23, 2015 6:43pm Jun 23, 2015 6:43pm
Quoting forexer11
{quote} Tp where??
No take profit so far.. it can go back to 1.1290 (the midpoint of bullish butterfly on 15 minute) that's what I hope..

But for now I prefer trailing my SL.. +5 pips profit already locked

Happy Trades
Focus only on what truly matters!
  • #1,003,659
  • Jun 23, 2015 6:44pm Jun 23, 2015 6:44pm
Quoting navk
{quote} when Tokyo opens, they try to go in the same direction as NY. Then they realize, they have to retrace first to allow Europeans to break support. So my stop still remains 1140.
I don't care since no risk.. but thanks for the heads up
Focus only on what truly matters!
  • #1,003,660
  • Jun 23, 2015 6:54pm Jun 23, 2015 6:54pm
Quoting cenetti
Short vs Long ratio has shifted!!!!!!! Be very careful opening new long at this stage !!!! If anything SHORTS should be favored!
Hate to say I told you so. Always go against retail traders. They never fail to pick the bottoms and tops...In reverse hahaha!
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