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Silent Service Method

  • #15,541
  • Aug 8, 2016 12:16pm Aug 8, 2016 12:16pm
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  • #15,542
  • Aug 8, 2016 12:18pm Aug 8, 2016 12:18pm
Quoting Dan14
Hi Chris! My English is bad. I want to thank you for the Silent Service Method! I made 3 consecutive months of profitable on a demo account! I want to ask you whether you can combine the Silent Service Method with the elements of the Martingale?
No worries mate. Thank you for the compliment. As far as the martingale risk management system, I have mixed feelings about it. I know that some people can be profitable with it, but it makes me nervous personally. I think it really comes down to personal choice. As far as whether or not the trades work out - the martingale won't make much difference, however - I would hate to have a few losses in a row using it!

Chris
  • #15,543
  • Aug 9, 2016 11:39am Aug 9, 2016 11:39am
http://thetraderguy.com/silver-outlo...sure-continue/
  • #15,544
  • Aug 10, 2016 11:59am Aug 10, 2016 11:59am
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  • #15,545
  • Aug 16, 2016 11:33am Aug 16, 2016 11:33am
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  • #15,546
  • Aug 17, 2016 11:53am Aug 17, 2016 11:53am
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  • #15,547
  • Aug 20, 2016 12:01am Aug 20, 2016 12:01am
Quoting clockwork71
{quote} No worries mate. Thank you for the compliment. As far as the martingale risk management system, I have mixed feelings about it. I know that some people can be profitable with it, but it makes me nervous personally. I think it really comes down to personal choice. As far as whether or not the trades work out - the martingale won't make much difference, however - I would hate to have a few losses in a row using it! Chris
In my experience, Martingale strategies are a recipe for disaster and ruin. As you continue to bet double your losses, you'll eventually reach a discomfort level and/or a level that will empty your account completely. I would stay away and stick with a more standard money management technique. Martingale works when the size of the bet is infinitesimally small compared to your bankroll, but breaks down as the size becomes more meaningful and you approach the house limit/margin limit as it were.

My advice, stay small, build the bankroll (aka, account size) don't swing for the fences. Staying in the game is just as important as being good at it.

-SL
  • #15,548
  • Aug 21, 2016 9:03pm Aug 21, 2016 9:03pm
Quoting InfinitySL
{quote} In my experience, Martingale strategies are a recipe for disaster and ruin. As you continue to bet double your losses, you'll eventually reach a discomfort level and/or a level that will empty your account completely. I would stay away and stick with a more standard money management technique. Martingale works when the size of the bet is infinitesimally small compared to your bankroll, but breaks down as the size becomes more meaningful and you approach the house limit/margin limit as it were. My advice, stay small, build the bankroll (aka,...
As usual SL puts it better than I can.
  • #15,549
  • Aug 22, 2016 8:00am Aug 22, 2016 8:00am
With Martingale trade - it's more a casino than a business, I think)
  • #15,550
  • Aug 24, 2016 3:50pm Aug 24, 2016 3:50pm
Quoting clockwork71
{quote} As usual SL puts it better than I can.
Ha! Never Chris.

How goes it? Everything good by you? I've gone a little quiet lately... not as much time to devote to trading. Wish I had more...
  • #15,551
  • Aug 24, 2016 3:55pm Aug 24, 2016 3:55pm
I posted this in another thread, but here's one I bought the other day:

Pin @ $17, can play with pretty tight stop.
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  • #15,552
  • Aug 25, 2016 7:53pm Aug 25, 2016 7:53pm
Quoting InfinitySL
{quote} Ha! Never Chris. How goes it? Everything good by you? I've gone a little quiet lately... not as much time to devote to trading. Wish I had more...
Yeah, working my ass off - and going back to school. Also, just went to Canada twice this past month.
  • #15,553
  • Aug 27, 2016 7:35am Aug 27, 2016 7:35am
I love canda -- we try to go to Crystal Beach right over the border by Buffalo, NY. It's fantastic in the summer.

Been trading much? What's your timeframe these days - are you trading off the daily/4h or daily/weekly? I've moved pretty much exclusively to Weekly b/c i just don't have the time to monitor trades like I used to.
  • #15,554
  • Aug 27, 2016 4:16pm Aug 27, 2016 4:16pm
Quoting InfinitySL
I love canda -- we try to go to Crystal Beach right over the border by Buffalo, NY. It's fantastic in the summer. Been trading much? What's your timeframe these days - are you trading off the daily/4h or daily/weekly? I've moved pretty much exclusively to Weekly b/c i just don't have the time to monitor trades like I used to.
Toronto, big Blue Jays fan.....

As for trading - its mainly daily and above. Although sometimes I will go under that, if it is a market that I have to watch for work......

I think that once you take the time and leverage, people get bored with trading to be honest. However, that seems to be the way to make it work...
  • #15,555
  • Aug 28, 2016 8:52pm Aug 28, 2016 8:52pm
I think you may have said this, or perhaps it was another, but to your point above...

If trading is "exciting" you're probably doing it wrong. What I mean by that is that if you're doing it for thrills or you're obsessed w/ every tick, it probably means you have too much riding on the outcome of any one particular trade. Yes, seeing your ideas pan out and doing well is rewarding, but if your in it for the thrills you might be better served in other endeavors.

Part of me approaches trading with a sense of dread... that this might be the trade that opens up 20% down one day. Hence the obsession w/ risk and how much to risk on each trade. Anyway, i digress...

Enjoy what's left of this weekend.
  • #15,556
  • Aug 28, 2016 9:22pm Aug 28, 2016 9:22pm
Quoting InfinitySL
I think you may have said this, or perhaps it was another, but to your point above... If trading is "exciting" you're probably doing it wrong. What I mean by that is that if you're doing it for thrills or you're obsessed w/ every tick, it probably means you have too much riding on the outcome of any one particular trade. Yes, seeing your ideas pan out and doing well is rewarding, but if your in it for the thrills you might be better served in other endeavors. Part of me approaches trading with a sense of dread... that this might be the trade that...
Thanks Sean.....

Oh, and speaking of which, I was reading how the GBP was going to gap lower and drastically due to the next PM enacting the Brexit without consulting Parliament, therefore making a quicker move......

And I know of at least two traders that were planning on jumping into the trade face first.....

Risk is everything.
  • #15,557
  • Aug 30, 2016 11:32am Aug 30, 2016 11:32am
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  • #15,558
  • Aug 30, 2016 2:54pm Aug 30, 2016 2:54pm
Quoting clockwork71
https://youtu.be/7hoE-rukQns
Hello! You are very popular in Russia, and some of you posts and pictures was translated on Russian language! Thank you for your work!
  • #15,559
  • Aug 30, 2016 4:26pm Aug 30, 2016 4:26pm
Quoting Kinder
{quote} Hello! You are very popular in Russia, and some of you posts and pictures was translated on Russian language! Thank you for your work!
Thanks! Good to know that people like it......

Chris
  • #15,560
  • Aug 31, 2016 12:42pm Aug 31, 2016 12:42pm
Quoting clockwork71
{quote} Thanks Sean..... Oh, and speaking of which, I was reading how the GBP was going to gap lower and drastically due to the next PM enacting the Brexit without consulting Parliament, therefore making a quicker move...... And I know of at least two traders that were planning on jumping into the trade face first..... Risk is everything.
I think the kneejerk reaction to Brxit is over now and leaving EU will be positive for the gbp and GB

I'm in this short and profit locked in

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