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Nice article on Risk to Reward,
http://www.learntotradethemarket.com/fo ... rex-trader
http://www.learntotradethemarket.com/fo ... isk-reward
Cheers Withnail.
http://www.learntotradethemarket.com/fo ... rex-trader
http://www.learntotradethemarket.com/fo ... isk-reward
Cheers Withnail.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.
Removing a few things that proved not to be useful,
Withnail
Withnail
Last edited by withnail on Mon Jan 28, 2013 2:13 pm, edited 1 time in total.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.
http://lessons.tradingacademy.com/artic ... your-risk/
***Edit added later forgot to put the dollar index chart in
Cheers,
Withnail
***Edit added later forgot to put the dollar index chart in
Cheers,
Withnail
Last edited by withnail on Sun Aug 26, 2012 10:46 am, edited 1 time in total.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.
Pure poerty in motion.
withnail wrote:http://lessons.tradingacademy.com/article/try-this-to-lower-your-risk/
Cheers,
Withnail
Last edited by bettlebox on Mon Sep 03, 2012 11:23 pm, edited 1 time in total.
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.
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I try to balance the elements of this formula in my trading. Also I started to use it to assess my trading rather than on $$ that gives me issues.
Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss)
Also an interesting way to assess trades.
http://backtestingblog.com/wp-content/u ... ample1.png
And use this style of MM to protect MY money and give the positive benefit of exponential maths.
Be aware of this :-
http://i1212.photobucket.com/albums/cc4 ... oup-cr.gif
Probability of Win -- Small level inside a HTF level, time of day etc.
Average Win -- 3:1 as usual min and 2 trade opened to try to maximise R:R as short of the weekly high.
Probability of Loss -- Now 0 as trade was managed to win:win situation.
Average Loss -- Tight Stop use small level to get in on htf level
Example -- Increase average win
Cheers,
Withnail
Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss)
Also an interesting way to assess trades.
http://backtestingblog.com/wp-content/u ... ample1.png
And use this style of MM to protect MY money and give the positive benefit of exponential maths.
Be aware of this :-
http://i1212.photobucket.com/albums/cc4 ... oup-cr.gif
Probability of Win -- Small level inside a HTF level, time of day etc.
Average Win -- 3:1 as usual min and 2 trade opened to try to maximise R:R as short of the weekly high.
Probability of Loss -- Now 0 as trade was managed to win:win situation.
Average Loss -- Tight Stop use small level to get in on htf level
Example -- Increase average win
Cheers,
Withnail
Last edited by withnail on Tue Sep 04, 2012 2:46 pm, edited 2 times in total.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.
I got stopped out of the short on Tue before my target (CZ1). Flipped long yesterday.
I think it's time to call it a day posting trades it is probably getting boring for everyone. This log has certainly helped get to where I wanted and I really enjoyed posting it. I hope it has been some use to others too. I wish everyone good luck with their trading.
Some things that have helped me:-
Finally realising there are more things to being a good trader other than entries - I took some convincing
Reading trading in the zone and working on my brain (thanks PGW & G).
Understanding the 2 functions of money management and applying it consistently.
Apart from all the great info and threads here I also recommend.
Sam Seiden fxstreet videos and his online trading achademy articles,
Withnail.
I think it's time to call it a day posting trades it is probably getting boring for everyone. This log has certainly helped get to where I wanted and I really enjoyed posting it. I hope it has been some use to others too. I wish everyone good luck with their trading.
Some things that have helped me:-
Finally realising there are more things to being a good trader other than entries - I took some convincing
Reading trading in the zone and working on my brain (thanks PGW & G).
Understanding the 2 functions of money management and applying it consistently.
Apart from all the great info and threads here I also recommend.
Sam Seiden fxstreet videos and his online trading achademy articles,
Withnail.
Last edited by withnail on Mon Jan 28, 2013 2:35 pm, edited 1 time in total.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.
- dojirock
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Withnail,
Its been nice reading your thread....the charts were real helpful.
Good luck, Keep pippin!
dojirock
Its been nice reading your thread....the charts were real helpful.
Good luck, Keep pippin!
dojirock
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
- Braathen
- rank: 500+ posts
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withnail wrote:I got stopped out of the short on Tue before my target (CZ1). Flipped long yesterday.
I think it's time to call it a day posting trades it is probably getting boring for everyone. This log has certainly helped get to where I wanted and I really enjoyed posting it. I hope it has been some use to others too. I wish everyone good luck with their trading.
Some things that have helped me:-
Finally realising there are more things to being a good trader other than entries - I took some convincing
Reading trading in the zone and working on my brain (thanks PGW & G).
Understanding the 2 functions of money management and applying it consistently.
Apart from all the great info and threads here I also recommend.
Sam Seiden fxstreet videos and his online trading achademy articles.
Michael Huddleston - Inner Circle Trader.
Cheers,
Withnail.
If you want to make it more exciting you could post a few live trades
as you make them I havnt looked all the way through your thread
to see if you already have, just a thought
Happy pippen!
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-
MO-
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