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Multi-Lot Multi-Timeframe Position trading

  • #1,241
  • Jul 18, 2015 6:27am Jul 18, 2015 6:27am
Quoting Graviton
{quote} Right. If you can tell that a trade is going bad, there is no need to wait until the stop is hit. Often I'll cut my losses short by half of the stop value or more. I'll usually exit at least 10 pips before the stop is hit even if I'm not sure why it's not going right, just to say I didn't sit around like a zombie and wait for a stop to take me out at the worst possible point. I can always re-enter later if it looks good again. -G
Hi Graviton,

Thanks. Got it.

Bendz
  • #1,242
  • Edited 8:25pm Jul 19, 2015 7:49pm | Edited 8:25pm
Just a quick update on a few trades. I said I was taking an EG short and I'd report back on it. The original lot is now +30 pips, so I will now take that profit and add another lot on the trade. That gives me 30 pips room to try to make this one work. Those that have read my previous posts now understand how the rest of my trade can be made risk free. So, after putting the second lot on, and just before taking the first 30 pips off in profit, it looks like the below:

(Edit: Oops, the below is actually an M15 screenshot rather than the H1 as labeled)
Attached Image (click to enlarge)
Click to Enlarge Name: EG.PNG Size: 60 KB


Now I'll take my 30 pips profit off the first lot and trade the remainder of this trade risk free.
  • #1,243
  • Edited 8:48pm Jul 19, 2015 8:37pm | Edited 8:48pm
If you are following along, you know that I've been trading NU short for a while. I've been trading it multi lot and now I have taken +1320 pips off this trade in July (multi-lot is swell when it works). This is now a free trade (no risk) as the profits more than cover the risk I am taking in it. I currently have 4 lots short on it and it's running + 322 pips ahead total, so it looks like this:
Attached Image (click to enlarge)
Click to Enlarge Name: NU 4 Lot.PNG Size: 55 KB


I'm perfectly happy to exit all if this trade regresses back to break even on the current 4 lots and take my +1320 pips profit to the bank. There is no shame in taking a big fat profit to the bank and going off to try something else.
  • #1,244
  • Jul 19, 2015 8:46pm Jul 19, 2015 8:46pm
Finally, I'm still trading the UCad long and I have taken +542 pips profit off it this July. This is now another free trade (no risk). I currently have only 2 lots long on it after taking my prior profits off. Those two lots are running +235 pips ahead. I'll put another lot on long soon if it continues going my way. It now looks like this:
Attached Image (click to enlarge)
Click to Enlarge Name: UCad Long.PNG Size: 50 KB
  • #1,245
  • Jul 19, 2015 8:56pm Jul 19, 2015 8:56pm
That's all my active trades at this time. I really only need one or two good ones to cash in big-time using multi-lots. If you were watching closely, you'll notice that I work to get my trades to a risk free position very quickly, then I slam them with multi-lots while controlling the risks so that I can maintain that risk free position as long as I possibly can while cashing in massive profits as the trade progresses. I have no problem bailing out of a trade that is going badly. This isn't about pride, it's only about making profits. It's a rather simple minded approach that might take years to master, but it's well worth the effort. I'm happy to discuss this method with anyone so feel free to add your comments or ask questions. Best success. -G
  • #1,246
  • Jul 19, 2015 9:53pm Jul 19, 2015 9:53pm
Quoting Graviton
That's all my active trades at this time. I really only need one or two good ones to cash in big-time using multi-lots. If you were watching closely, you'll notice that I work to get my trades to a risk free position very quickly, then I slam them with multi-lots while controlling the risks so that I can maintain that risk free position as long as I possibly can while cashing in massive profits as the trade progresses. I have no problem bailing out of a trade that is going badly. This isn't about pride, it's only about making profits. It's a rather...
Very interesting thread with all the things i've read so far, i will post charts to add more value too later, if you dont mind

ty
Perfecting your entry will increase your profits
  • #1,247
  • Jul 19, 2015 10:00pm Jul 19, 2015 10:00pm
are you using the alligator to add positions?

thanks Grav
Perfecting your entry will increase your profits
  • #1,248
  • Jul 19, 2015 10:26pm Jul 19, 2015 10:26pm
Quoting Deliciouspip
are you using the alligator to add positions? thanks Grav
Sure, post charts for discussion anytime you like. It's supposed to be a discussion thread.

Really, at this time, I'm not using any indicators to trade (bare naked trading). Though I do have some favorite indicators plotted on my chart and I do look at them sometimes for confidence. Usually, I simply enter trades when price is going the same direction on all timeframes.

All the additional positions are based on the profit column. Once I have entered, I really never need to look at that pairs chart again. So for instance, if I have one lot on and it goes up 30 pips I can take that 30 pips off in profit and put another new lot on. Now I have 30 pips to risk to try to make the trade work. If it works I can put another lot on in another 30 to 50 pips. I can continue doing that very carefully managing my risk until I am taking off profits from the oldest lots in 150 to 250 pip blocks. Then I just let it run as long as it will, occasionally increasing the number of lots I'm running.

If the trade turns against me (it always will eventually), I can exit all the running lots at break even and take my accumulated profits and move on to the next trade. Rinse and repeat. It's not easy, but it's not impossible either. Does that make any sense? -G
  • #1,249
  • Edited 11:00pm Jul 19, 2015 10:37pm | Edited 11:00pm
Quoting Graviton
{quote} Sure, post charts for discussion anytime you like. It's supposed to be a discussion thread. Really, at this time, I'm not using any indicators to trade (bare naked trading). Though I do have some favorite indicators plotted on my chart and I do look at them sometimes for confidence. Usually, I simply enter trades when price is going the same direction on all timeframes. All the additional positions are based on the profit column. Once I have entered, I really never need to look at that pairs chart again. So for instance, if I have one lot...
It does, thank you!

but, can you share your favorite indicators? what indicators did u use (that worked well) before trading naked for your entries? hope you can share that

ty again !
Perfecting your entry will increase your profits
  • #1,250
  • Edited 9:13am Jul 20, 2015 7:44am | Edited 9:13am
Quoting Deliciouspip
{quote} It does, thank you! but, can you share your favorite indicators? what indicators did u use (that worked well) before trading naked for your entries? hope you can share that ty again !
Sure. I haven't found any indicators that work better than simply looking at a bare chart and deciding if price is going up or down. I mean, sometimes they will work better and sometimes they wont and that's the best they can do. Thus, it can be very frustrating trying to use them for trading, and trying to improve them is mostly a waste of time. I prefer to look at a bare chart and decide if price is going up or down, then glance at indicators and see if they confirm my bare chart impression. If they do I can have a wee bit more confidence in the trade, and if the indicators don't agree I have a good reason to look the trade over more carefully before I take it. So that's their value to me, either extra confidence in a trade I have already decided to take, or a warning flag to use extra diligence before taking a new trade.

That said, the ones I look at are MACD, 5emaX10sma, CCI and RSI across all timeframes up to weekly. The 1 minute doesn't influence me much but it will change direction in an hour or less anyway, so no big deal. The 1 Month is usually a longer timeframe than I am trading, but I like it to at least be headed in my direction.

Another comment, question?
  • #1,251
  • Jul 20, 2015 9:10am Jul 20, 2015 9:10am
Took a UChf long trade. Put a 3rd lot long on UCad long. 8 pairs on my watch list. Generally, these are all pairs that are trending in the same direction on nearly all timeframes, but I want to see them sustain that trend for 100 pips or more before taking the trade. They are AJ, EJ, EU, AU, short. UJ, GChf, GCad, GJ, long. Steady as she goes. -G
  • #1,252
  • Jul 20, 2015 9:35am Jul 20, 2015 9:35am
Quoting Graviton
{quote} Sure. I haven't found any indicators that work better than simply looking at a bare chart and deciding if price is going up or down. I mean, sometimes they will work better and sometimes they wont and that's the best they can do. Thus, it can be very frustrating trying to use them for trading, and trying to improve them is mostly a waste of time. I prefer to look at a bare chart and decide if price is going up or down, then glance at indicators and see if they confirm my bare chart impression. If they do I can have a wee bit more confidence...

No ty, i use MACD and pivot points with trendlines
Perfecting your entry will increase your profits
  • #1,253
  • Jul 20, 2015 9:40am Jul 20, 2015 9:40am
Quoting Graviton
Took a UChf long trade. Put a 3rd lot long on UCad long. 8 pairs on my watch list. Generally, these are all pairs that are trending in the same direction on nearly all timeframes, but I want to see them sustain that trend for 100 pips or more before taking the trade. They are AJ, EJ, EU, AU, short. UJ, GChf, GCad, GJ, long. Steady as she goes. -G
UCad should go up more because of BOC rate cut, and about UChf i dunno, i dont trade CHF, after that situation on january lol
Perfecting your entry will increase your profits
  • #1,254
  • Jul 20, 2015 9:41am Jul 20, 2015 9:41am
Quoting Graviton
Took a UChf long trade. Put a 3rd lot long on UCad long. 8 pairs on my watch list. Generally, these are all pairs that are trending in the same direction on nearly all timeframes, but I want to see them sustain that trend for 100 pips or more before taking the trade. They are AJ, EJ, EU, AU, short. UJ, GChf, GCad, GJ, long. Steady as she goes. -G

actually i have another question, do you care about fundamentals? or you go just by technicals? : )
Perfecting your entry will increase your profits
  • #1,255
  • Jul 20, 2015 12:11pm Jul 20, 2015 12:11pm
Quoting Deliciouspip
{quote} actually i have another question, do you care about fundamentals? or you go just by technicals? : )
Yes, MACD is one of my favs. I will also look at trendlines as well. Rarely, I'll even look at fibs, stochs, or regressions. Almost anything will work sometimes, nothing works all the time. Once you have found something you like, the important part is then to trade it wisely. Making the indicator more complex does not make it better, so one may as well keep it simple and focus on better trade management. The absolute simplest I know of is a bare chart and my own two eyes to see if price is currently going up or going down, so I mostly just use that. Even if half my trades fail (like flipping a coin), I can still do very well as long as I'm making 2X or more on those that succeed as I'm losing on those that fail. If your indicator doesn't at least do as well as flipping a coin, I'd say you might want to rethink that strategy. After that, it's all about cutting losses short and letting winners run. Indicators simply confirm my decision to enter, or cause me to look a trade over more carefully before entering. Most of my trading is based on cutting losses short (how short?) and letting winners run (how long?).

Yes, I do pay some attention to fundamentals. I won't usually trade against a central bank or any other major fundamental news that is moving the market. So for instance, as you said the BOC is reducing interest rates, which lowers the value of the CAD. That being the case, I would not trade CAD long even if it looked good technically at the moment. Everyone knows that the next move by the US Fed must be to increase interest rates, since they can't go lower. So I would not trade USD short even if the technicals looked right. It's rare that technicals and fundamentals disagree, but when they do I pass on the trade.

I understand your concerns about the Chf manipulation. But I believe the Swiss National bank would rather the Chf stay low and they can print as many Francs and buy USD and Euros with them as necessary to force that to happen. So by trading short Chf, when technicals and other fundamentals indicate, I should be facing a small risk of the SNB manipulating their currency against me. I would not trade long Swiss Francs as that would be trading against the SNB.

Comments? Questions? Anyone?
  • #1,256
  • Jul 20, 2015 12:29pm Jul 20, 2015 12:29pm
Quoting Graviton
{quote} Yes, MACD is one of my favs. I will also look at trendlines as well. Rarely, I'll even look at fibs, stochs, or regressions. Almost anything will work sometimes, nothing works all the time. Once you have found something you like, the important part is then to trade it wisely. Making the indicator more complex does not make it better, so one may as well keep it simple and focus on better trade management. The absolute simplest I know of is a bare chart and my own two eyes to see if price is currently going up or going down, so I mostly just...
thanks again Grav, the key for me here is Patience
Perfecting your entry will increase your profits
  • #1,257
  • Jul 20, 2015 12:42pm Jul 20, 2015 12:42pm
also i would add other question if you dont mind, how do you know or (try to find) that a trend has ended? i mean how do you track the end of the trend
Perfecting your entry will increase your profits
  • #1,258
  • Jul 20, 2015 12:53pm Jul 20, 2015 12:53pm
Quoting Deliciouspip
{quote} thanks again Grav, the key for me here is Patience
Quite right. I'm naturally an impatient person. But patience is essentially solved now because now I already know before I enter a trade where I will cut the loss short, or add another lot on, or take a profit off. I'm willing to wait days or weeks until the market shows it's hand. I really don't care how long it takes. I'd wait months if I needed too, but that hasn't happened. I also know exactly what conditions will prompt me to enter the trade ahead of time. I have had to wait for weeks on occasion before any trade met those conditions. It's rare, but I'm willing to wait as long as necessary for my conditions to be met. I was able to get some good reading done in that down time and had some very profitable trades when the market finally presented the correct conditions.

I can't change my basic nature. So, in the end, I have replaced the quest for patience with the quest for a trading plan that replaces the need for patience. -G
  • #1,259
  • Edited 1:23pm Jul 20, 2015 1:12pm | Edited 1:23pm
Quoting Deliciouspip
also i would add other question if you dont mind, how do you know or (try to find) that a trend has ended? i mean how do you track the end of the trend

Sometimes there is a major fundamental shift in the markets which will indicate the end of a trend, like a reversal of policy by a Central Bank. I'll just bail out quickly in that case. I can always re-enter later after I have thought it over.

Much more often though, price reverses for no obvious reason. Then I just exit all running lots in the trade as near break even as possible and take any realized profits to the bank. The trend is just as likely to reverse at any time by my way of thinking, so I keep risks very low until I have realized profits to take to the bank. Then if price reverses soon after I enter I lose a small amount. If it reverses after a small move in my favor, I will exit with a small profit. If price reverses after a large move in my favor, I exit with a large profit. The exit is critically important here. I either exit with a small loss, a small win, or a large win. I never exit with a large loss, so the small wins and small losses almost offset. That just leaves me with some large wins to deposit to the bank. As always, questions or comments from anyone are welcome. -G
  • #1,260
  • Jul 20, 2015 1:56pm Jul 20, 2015 1:56pm
Quoting Graviton
{quote} Quite right. I'm naturally an impatient person. But patience is essentially solved now because now I already know before I enter a trade where I will cut the loss short, or add another lot on, or take a profit off. I'm willing to wait days or weeks until the market shows it's hand. I really don't care how long it takes. I'd wait months if I needed too, but that hasn't happened. I also know exactly what conditions will prompt me to enter the trade ahead of time. I have had to wait for weeks on occasion before any trade met those conditions....
i take trades and leave the computer lol, thats what works for me xD
Perfecting your entry will increase your profits
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