A fresh start! Doji's Trading Journal

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newscalper
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Postby newscalper » Fri Feb 21, 2014 2:28 pm

roctao wrote:Maybe just Maybe for now ....never mind...you will get it .....the day after you let go of it .....if you can learn how to let go....lol javascript:emoticon(':-


I have no idea what you're talking about.

What am I supposed to let go of?

Trite. Meaningless.


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Postby newscalper » Fri Feb 21, 2014 2:40 pm

judokamak wrote:News...can i ask...do you have fixed sl/tp setup? Do you use position+space and do you add positions to open trade?


How can one add to a position when it goes against exactly 1 pip from entry and never returns.

No I don't use space, I've just been playing with the concept and trying to work it out.

I usually use a stop.

When I've tried not using a stop and positioning further away and using LIS I've been caught out by huge bars closing beyond LIS. And if my entry is particularly awful it turns out even more nasty.

Don't like it. And the inverse R:R model does not work unless you have an extremely high win rate anyway...and I don't :lol:

Have you seen the charts I posted re space???

Have you done the maths. not just theoretical, by example - see those charts, space was worse every time ?

Your last addition when increasing will slaughter you when it goes against as it surely must. You do not know when it will go against.

Adding does not decrease risk, how can it?


I've said it dozens of times

You cannot fix having no edge and negative expectancy with money management.


Kreslik not allowing you to edit a post quickly is turning into a PITA - I know it's been done to prevent spam bots but ...grrrrr lol

I type very fast...think edit type, often read afterwards and then go 'hmmm edit as it still sounds like I'm being arsey' and the forum won't let me haha

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Postby pp2 » Fri Feb 21, 2014 2:58 pm

Image
Last edited by pp2 on Fri Feb 21, 2014 3:01 pm, edited 1 time in total.

judokamak
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Postby judokamak » Fri Feb 21, 2014 2:59 pm

No, im not advocating space and adding, I don t do it myself, i m not there yet. But i will tell you what helped me. From your charts i noticed that lot of times your trades go in to + and that come back, which is logical, because you obviosly understand a lot. Is this right?

If it is, perhaps it would be benificial if you choose the tp in advance...like a zone betwen 15-30 pips and at the same time tryed to hang your losses in 10-20 pip range. Also..daily target..not big..20-30 pips is enough. Sometimes you get lucky and get more than those 20-30 and thats just a bonus.

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Postby newscalper » Fri Feb 21, 2014 3:36 pm

judokamak wrote:No, im not advocating space and adding, I don t do it myself, i m not there yet. But i will tell you what helped me. From your charts i noticed that lot of times your trades go in to + and that come back, which is logical, because you obviosly understand a lot. Is this right?

If it is, perhaps it would be benificial if you choose the tp in advance...like a zone betwen 15-30 pips and at the same time tryed to hang your losses in 10-20 pip range. Also..daily target..not big..20-30 pips is enough. Sometimes you get lucky and get more than those 20-30 and thats just a bonus.


Yeah I understand what you're saying but often succesful trades will go against by more than 10 pips, you try that way and yo ujust keep taking the -10 hits and then go the other way 20 up, close and you're still in the red.
If you're sertting a TP at 20 you will never get those runs of more than 20 - the lucky ones as you call them as you've closed the trade.

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Postby MightyOne » Fri Feb 21, 2014 4:45 pm

I want to laugh but it is just too sad...
when I see traders saying, 'look at this guy who stacked, increasing his account by 20-40% in just weeks only to get stopped out!'

It works like this:

say that you are trading 2 lots over 30 pips, stack to 12 lots, & liquidate 10 pips from your position getting stopped.

you might think 'what a fool, he started with 30 pips of space and now he has 10 pips!' but in reality he made 2:1 getting stopped out with a small profit!

His downside is the same as yours, his worst trade is your best trade, and his best trade is your wet dream.

A dark mind can only see dark things, it focuses only on profit so it will only see loss.
An illuminated mind sees the pitfalls, it focuses only on loss so it will only see gains.

The ZL is not just a line, it is a mindset.

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Postby newscalper » Fri Feb 21, 2014 8:17 pm

MightyOne wrote:I want to laugh but it is just too sad...
when I see traders saying, 'look at this guy who stacked, increasing his account by 20-40% in just weeks only to get stopped out!'

It works like this:

say that you are trading 2 lots over 30 pips, stack to 12 lots, & liquidate 10 pips from your position getting stopped.

you might think 'what a fool, he started with 30 pips of space and now he has 10 pips!' but in reality he made 2:1 getting stopped out with a small profit!

His downside is the same as yours, his worst trade is your best trade, and his best trade is your wet dream.

A dark mind can only see dark things, it focuses only on profit so it will only see loss.
An illuminated mind sees the pitfalls, it focuses only on loss so it will only see gains.

The ZL is not just a line, it is a mindset.


Interesting and worth some thought. However, personally I am not focusing on profit, I'm very much focusing on loss.

If one uses the 'hasn't closed over a line so do not close out' concept then one cannot close on the basis of price coming within x pips of an average and I would imagine given range of some outlier bars sometimes being MANY times average range that the average would have to be a country mile away to cope.

I mean what you're basically doing is grid trading isn't it?

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Postby Jalarupa » Fri Feb 21, 2014 8:37 pm

http://www.youtube.com/watch?v=XiUCEHEyE-A

"His downside is the same as yours, his worst trade is your best trade, and his best trade is your wet dream. "

Put it on a t-shirt and wear it!
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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newscalper
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Postby newscalper » Sat Feb 22, 2014 2:27 pm

MightyOne wrote:I want to laugh but it is just too sad...
when I see traders saying, 'look at this guy who stacked, increasing his account by 20-40% in just weeks only to get stopped out!'

It works like this:

say that you are trading 2 lots over 30 pips, stack to 12 lots, & liquidate 10 pips from your position getting stopped.

you might think 'what a fool, he started with 30 pips of space and now he has 10 pips!' but in reality he made 2:1 getting stopped out with a small profit!

His downside is the same as yours, his worst trade is your best trade, and his best trade is your wet dream.

A dark mind can only see dark things, it focuses only on profit so it will only see loss.
An illuminated mind sees the pitfalls, it focuses only on loss so it will only see gains.

The ZL is not just a line, it is a mindset.

We're back to fear and greed aren't we?

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MightyOne
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Postby MightyOne » Sat Feb 22, 2014 4:51 pm

We're back to fear and greed aren't we?


News, you are the only person on this forum looking backwards...

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