TygerKrane wrote: dojirock wrote:
Out of fear of frustrating the bunch of ya... I wont even say " I still dont get it"
oh wait.... I think i just did say that... lol
I have some kind of scalpers, stacking mind block.
Merry Christmas to you all!
Hope your 2016 is twice a good as your 2015.
With your permission, I'd give a try at explaining what all the fuss is about.
Maybe you can give a mini lesson again on how you approach your scalping, since that seems to be what you're naturally hard-wired for? (Perhaps your way to describe it has evolved since the last time)
I have two questions about it, for example:
- how many different timeframes do you look at, as you ¹ decide your direction, & ² time your entry
(i am assuming that after you decide direction, you wait for the end of a pullback to take entries)
- what leverage are your stack entries at?
(I am assuming that for any particular trade sequence you are following, that your 'stacks' are all the same number of lots)
As for calculating the leverage of a stack, that can be figured out by answering one of the following questions:
---if you enter with one stack, and it goes 10 pips in your favor, what percentage does your account increase by? (To 2 decimal places)
---if you are trading EU with a $1000 account, how many lots are in one stack, and, how much do you pay per lot of EU?
(I do my Christmas greetings between the 20th - 24th
My trading has evolved quite a bit in the last 9 months. I will answer the best I can due to I still am refining how I want to handle my MM.
I trade two different ways but use the same pattern in all of my trades.
When I do use any 3 time frames, I must have an extreme on the highest of the time frames.
I then look for momentum on the next lower time frame of the 3. I do not look for my entry until I see momentum.
The lowest time frame of the 3 is my entry chart. When I get my pattern, I enter. My SL is small.
MM, I dont look at leverage per say due to my R:R is good. I use my momentum time frame for exits. I revised the fib indi to display the rough, R:R.
I say rough due to when I stack, its too much work to figure it out. I do only stack 4 times at this time. My SL is also a close beyond the SL line in the entry time frame chart. Not a wick. So that varies also. I still have a high percentage success rate so thats not really an issue anymore.
The pic explains an example. I decrease as I stack to keep my net postion safe.
After the 4th stack im done, I have found my momemtum will decrease soon after.
I have managed to get up to the 4hr, 1hr, 15 min as an example of this method.
The other way It Trade is momentum, then lower time frame , enter when my patter appears.
I usually only stack once due to they are quicker trades.
Its taken me a long time to stop looking at dollars. As I stack and if I look at dollars, for me, it throws my trading emotions out the window. I usually will exit way to early and have a hard time trading my trading plan. That being said, it has also taken me along time to not look at pips. My exit is purely based on my time, or exit pattern on my momentum time frame.
Hope this makes sense. I have not been able to put my trading plan in bot form. I use my insight and eyes more than I ever thought and didnt really discover this until I had to put it in step format for a coder.
Hope this answers some of your questions,
Merry Christmas and Happy New Year.