TygerKrane's Pip-Pickpocketing

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TygerKrane
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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Wed Jan 13, 2016 1:20 am

Hmmmm...

Possible AJ Short?

Image

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TygerKrane
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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Mon Jan 18, 2016 12:16 pm

Image
Week 3; Ending: Jan, 15
-0.44%
Entries: 44
33.4% Targets: 1/8 ⇒ $2668
Image

The week was kind of volatile as far as my account balance goes.
I went down ~-2% and hovered around there for a couple of trades. Then I went down -4.5% and was ready to be done trading for the week. From there I made an awesome, note-worthy, IDEAL example of what a trade should be, and over the next 2-3 trades, went from the -4.5% to +2.2%. I got up to 3.5%, and then on an EG Short made it to a weekly account high of 8.5%. {{@50 pips on my 2nd double}}
This, put my duck/target to within a range of about 80 P%PS.
I looked at the Weekly & Daily EG chart and saw 8-Straight-Weeks of Long candles. So I figure, "why not? At least Friday could be a day that would close Short, and maybe even begin a reversal in this weekly Long trend. EG pulled back Long, to where I caught that first EG Short, and I think, "awesome, the reversal to this 8 week trend Long is gonna begin with a double top on my H8 charts!" From there I figured it would be worth it to risk my 8.5% gain on compressing my SPACE and aggressively trying have an entry near the top. And over several attempts, that's how I gave it all back this week. In less than 12 hours, I might add.

I think that going forward I will adjust my lot size calculations to MightyOne's calculations. (This way, ¹no matter which pair I start my trading from, the risk will always be the same; ²after my 3rd double, I will have MightyOne's blueprint for a 70-90pip gain to hit a target, but, ³I retain the option to add-in more --beyond 3 doubles-- if the currency pair allows a higher leverage.) But I am probably still the type of trader that would double 3 times, and then STILL try to add more lots to try and catch a 2-3 daily trend at that point, instead of just aiming for my pip target :roll: we'll see.) However, my $Min leverage will be based on 4:1lev. With a 5% weekly loss limit, this gives me 125 pips of SPACE at my minimum. :shock:

So I said that I spent last weekend studying my exits...I must say it was an AWESOME investment of time. So much so, that I will definitely be putting more time into looking at this over again and again. The goal of this kind of REPETITIVE STUDY is to get my reactions to be nearly as automatic & COMFORTABLE as my reflexes & reactions when I'm driving.

I still have an issue with my exits when I'm trading on higher leverages...I'm more willing to accept bigger drawdowns, in the name of seeing my rocket ship blast off.
Whereas, when I'm at minimal size, I have NO ISSUE taking 2-3 stop outs that will eat away at my initial 30 pips SPACE.
But when I have the second and third double on the charts, the idea of letting SPACE be chipped away is VERY vexing to me. I almost feel like I am betraying my previous work in building up to that size, by letting myself become a scaredy-cat and exiting out of trades for any little price tick that I find disagreeable.
[[I probably will need to OVERemphasize my assertion for only accepting 'Easy Money' when I've reached hi-lev. That is, situations when Big Money moves into an area, and then moves out of the area, without playing around at my IF/THEN lines. When PA is playing around my IF/THEN lines, I mentally enter a cycle of Rationalizing, Re-analyzing, and Confirmation Bias, which is kind of mentally draining and therefore, highlights that in that particular PA setup, Big Money is NOT giving me the money easily]].

An interesting point about the number of trades I took, is the number of them that gave 10-20 pip gains before coming back on me. It almost makes me want to aim for 'scalps' like these exclusively, but it's hard for me to agree to that b/c then I feel like I am turning into a purely 1:1 risk:reward trader.
I could probably make grabbing 10-20 pip targets another type of 'trading exercise' to spend time with.
On the positive side, it shows that I am very comfortable with the idea of doubling after my entry.

So actually this weekend, I took a little vacay and wasn't able to review my exits again, so it probably WOULD be a good week for me to take smaller targets without being so eager trying to double initially.


※※※※※※※※※※
“It definitely wouldn't be cool to lose my cool two times in a row...Actually, it wouldn't be cool to lose my cool EVER AGAIN :!: " ____________________~ TygerKrane

"I only need to protect myself from myself, at this point..."--Amen--[/quote]
Last edited by TygerKrane on Tue Jan 19, 2016 10:17 am, edited 1 time in total.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Re: TygerKrane's Pip-Pickpocketing

Postby MightyOne » Mon Jan 18, 2016 7:06 pm

If your waypoint is $2000 and you are up 8.5% then you only need 12.653% to reach your target.

(%needed / pip target)waypoint = $/pip
(0.12653 / 88)2000 = $2.8756/pip

It doesn't have to be 88, it could be 50 pips; it just needs to be less than the daily ATR.

We aim to overshoot our target, we size based on progress.
If we are down 8.5% then we would be more inclined to keep adding and bring the target within
reach. If the target is within reach then we casually close the distance.

The most important thing is to actually reach your %target.
You could reach two targets in a single week or you could clear 6 targets in a single month, but
you only need ONE target per month & up goes a zero.
Secure the first target and then aim for the next or multiple targets.

You know that you can do it, you feel it in your bones :shock:

It is ok to hover around break-even at each target along the path to +zero :lol:

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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Tue Jan 19, 2016 12:17 pm

Interesting.

I never considered adjusting my size INTRA-weekly, if I had made significant progress.

I had only considered adjustments based on end of week values...

8)

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Tue Jan 19, 2016 12:21 pm

Image


And, here is the formula from MO that shows how to EXACTLY convert your SPACE when it doesn't match up to your ideal entry $ value:

((What $min should be) / (What $min is))space = space
(.372 / .40)30.2 = 28 space
(.372 / .36)30.2 = 31.2 space


Not that I'm ACTUALLY going to use it or anything :lol:

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Tue Jan 19, 2016 1:22 pm

Always a nice feeling when the first trade of the week nets pips...

TJ Short, +14 pips, 0 doubles

Entry
Image

Progress
Image

Close
Image


Accumulation Tracker:
Image

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Thu Jan 21, 2016 5:02 am

I Am PISSED :evil: :evil: :evil:

F-ing job caused me to miss 2 epic trades today. I kept getting called away from my desk over some asinine projects, so I exited trades. (Since I wasn't reliably going to be around for the 2nd doubled entries I had.)

So afterwards, I got myself back to break even on the week (-0.15% to be exact), and I am probably done for the week, seriously.

Looking forward to posting up trades to explain this, and looking forward to studying my exits over the weekend............

Today's two disappointments hit me like this:
Image

:evil: :evil: :evil:

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Sat Jan 23, 2016 8:33 pm

Image
Week 4; Ending: Jan, 22
-0.16%
Entries: 22
33.4% Targets: 1/8 ⇒ $2668
Image

I was done trading by Wednesday, 12 noon. End of story.

※※※※※※※※※※
“It definitely wouldn't be cool to lose my cool two times in a row...Actually, it wouldn't be cool to lose my cool EVER AGAIN :!: " ____________________~ TygerKrane

"I only need to protect myself from myself, at this point..."--Amen--

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TygerKrane
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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Sat Jan 23, 2016 9:26 pm

At 4:1 minimum entry lev and 30 pips for initial risk space, I am risking 1.2% per each block of SPACE.
At $Min(x8), my 30 pips of initial risk will then be 3.75 pips of SPACE

Being that I am most comfortable when I have 30 pips of SPACE, and $Min(x8) equals 32lev,
my 30 pips of SPACE would be equal to 9.6%
...3.75 pips of that (1.2%) is my initial risk


But sometimes I want to be eager and charge forward with 32lev and only 20 pips of SPACE.
In this case,
my 20 pips of SPACE would be equal to 6.4%
...3.75 pips of that (1.2%) is my initial risk


Sometimes, at that point, I'm willing to just throw in another block of SPACE just b/c, to instantly give myself another 3.75pips

Actions like that probably don't make it any easier for me to scale back when a trade goes against me, in order to preserve some Initial Risk SPACE for my future re-attempts :roll:

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Sat Jan 23, 2016 9:33 pm

At times, I realize that I probably over-complicate things and create more hurdles than I actually need to be jumping over...

I only hope that in the end, as I get over them, they make me an even better trader, since I will have carefully analyzed and overcame the small details that also cause failure in reaching trading success. :smt017 :smt024 :smt051

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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