TygerKrane's Pip-Pickpocketing

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TygerKrane
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¿7 Week Hiatus?

Postby TygerKrane » Sun Nov 12, 2017 3:26 pm

Wow, has it really been 7 or so weeks already?

I didn't stop trading or looking at charts during this time, just that I started messing around with different ideas while on vacation, and decided to play around with the ideas a bit longer. Constantly trying to increase my understanding of what might work for me in the long-term. I even did a bit of trading Long again.

Anyways, I'm ready to get back to my 'main style' of trading, adding in some of the things I learned.

I also learned how hard it was for me to try and hold a trade long term (several days). --It didn't help that the D1 charts didn't trend anywhere during my attempts-- , but it was a good reminder that just because I want to take a longer term outlook, doesn't mean that the market will make a longer term move.
Basically, even if I have enough OPM for a larger position size, it doesn't mean that if I wait, hundreds of pips will come to me at that larger size. So I have to be happy with taking smaller pip targets sometimes, even when I have larger position sizes.
The drawback however, being those times when I take profit, and then price doesn't pullback to give me better price to re-enter the same move. (I am uncomfortable lowering position size, in order to give myself a larger Stop Loss, to participate in a move that has already started.)

Anyways, I do want to continue only trading Short, and I do want to continue posting my account size. At this point, it feels weird not posting my gains/losses, I feel that it does a lot to help keep me trading more responsibly.

My account is at $1350 now.

**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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aliassmith
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Re: TygerKrane's Pip-Pickpocketing

Postby aliassmith » Sun Nov 12, 2017 7:03 pm

MightyOne wrote:
TygerKrane wrote:Week 3
Week Ending 9/15/17
-12%
Entries: 19

IMG_20170917_205834.jpg
I hate having results this bad as much as you hate seeing them.
Usually, it takes a little bit longer into my trading campaign before I do anything this bad.

※ It is important that I remain unafraid of having failures. ※


IT DOESN'T MATTER how well I handle trading decisions during the lower-leverage phases, if I lose discipline during the higher-leverage phases AND refuse to bring my leverage back lower once I have raised it for the week, I will never be able to move forward consistently.

My major losses were on EA.
When I looked back on the chart at the end of the week, I saw that the D1 chart had about 11 D1 candles of horizontal, overlapping consolidation.
Somehow I kept thinking that I saw enough clues on the lower timeframes to show that PA would breakout Short from the consolidation, so I stayed at the higher leverages since a breakout on the D1 chart at higher leverages would make up for all my losses.

I really would like to trade this week to maintain my trading focus, but I do have to get ready for a trip coming up and then there might be a 2-3 week gap that I don't trade since I am traveling.


I don't understand how you get to -12%

If your risk is 2% initially then your loss should be -2% no matter how high your lot sizes went (assuming price didn't come crashing through your '0 line' at full size).

Let's say that you set aside 2% for 3 days of trading...
you might divvy it up like so:
a. 0.5%
b. 0.5%
c. 0.5%
d. 0.5%
with each being a segment of risk.

So now you risk 0.5%, end up making 0.75%, and spread the OPM like so:
a. 0.5% + 0.1875%
b. 0.5% + 0.1875%
c. 0.5% + 0.1875%
d. 0.5% + 0.1875%

You lose a trade and now it looks like this:
x.
b. 0.5% + 0.1875%
c. 0.5% + 0.1875%
d. 0.5% + 0.1875%

As you can see, the end result is -2% no matter how much money is added.

You would have to blow up 4.8 boxes of 2.5% risk to get to -12% and every
trade would have to be a loser...

Is it possible that you have made a miscalculation somewhere?


I know this was awhile ago, but -12% in a week is more than unacceptable. MO is right here, no more than -2% in a week should be your limit.

I know I said -5% in a week but I have become more conservative over time. Not to mention you don't have any consistency to warrant higher risk thresholds.
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TygerKrane
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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Sun Nov 12, 2017 8:06 pm

whew!! Maaaannn, that is strict! Like trading entries at a little more than 1:1lev

But my consistency does still suck after all this time and I haven't understood yet: ¹ Why most of my entries don't go 20pips (for a 1:1 risk: reward); ² How to give PA a chance to go against me without wiping out the little 10pip or less TP's that I might be able to accumulate.

**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 aliassmith » Sun Nov 12, 2017 8:19 pm

TygerKrane wrote:whew!! Maaaannn, that is strict! Like trading entries at a little more than 1:1lev

But my consistency does still suck after all this time and I haven't understood yet: ¹ Why most of my entries don't go 20pips (for a 1:1 risk: reward); ² How to give PA a chance to go against me without wiping out the little 10pip or less TP's that I might be able to accumulate.


If you feel that is strict and you continually lose then you have different issues than your entries.
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Re: TygerKrane's Pip-Pickpocketing

Postby Mira » Sun Nov 12, 2017 8:49 pm

TygerKrane wrote:whew!! Maaaannn, that is strict! Like trading entries at a little more than 1:1lev

But my consistency does still suck after all this time and I haven't understood yet: ¹ Why most of my entries don't go 20pips (for a 1:1 risk: reward); ² How to give PA a chance to go against me without wiping out the little 10pip or less TP's that I might be able to accumulate.


Aren't, point one and point two, the same thing?
__________ THE :smt096 IS A LIE__________

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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Sun Nov 12, 2017 11:51 pm

aliassmith wrote:If you feel that is strict and you continually lose then you have different issues than your entries.

Somehow, after all this time, I still have more issues than my entries.
But I am not quitting and will keep trying to find out how to profit weekly despite losing individual trades or losing days.
I know I don't need to be profitable on 90% of my trades to be successful overall.

There is some kind of balance that I am missing; I know that I can use lower leverage in order to have a larger size risk box, but there is also a difference between giving a trade a little bit of room for negative movement, and being unable to admit that a trade entry is wrong and that the opposite-direction trend is actually still the correct movement.


I should also probably try to post more of my entries. Just b/c a trade doesn't work out, doesn't mean that it was a bad entry.

**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 Nov 13, 2017 12:15 am

Mira wrote:Aren't, point one and point two, the same thing?

No, I don't think so.
#2 is about collecting OPM over a few trades to have a bigger risk box for my next trade (since I have trouble earning 20pips in one trade),
but then, when I trade with the larger risk box, it gets used up quickly.

It gets used up quickly because even though I am trying to give my trade more negative room to move, it ends up being that I am refusing to admit the opposite-direction trend is the correct one.

Why do I feel I need to give my trade negative room to move?
B/c I know that I can't pick the absolute highest price to enter Short at.

I enter Short after some high pivot occurs, and try to allow for PA to reach above it one more time. (As a Stop Run, I suppose.) I need to find a balance in how I do this.

I am trying to figure out what I do differently that makes the future me better than the current me.
The future me and the current me are both looking at the same markets, but the future me is consistently doing something different, something that the current me has been unable to see/feel/internalize.

**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 Nov 13, 2017 12:27 am

I am thinking that at @EntrySize & @1stDouble, I can allow some PA above a pivot,

But at @2ndDouble & @3rdDouble, I need to let the pivot be a hard stop. (And only accept a trade that easily moves in my direction once I am at those higher leverages.)

**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 Nov 13, 2017 12:34 am

Also, whatever actions I do to find balance have to be internalized and REALLY become a part of who I am, since trading is supposed to be a long-term, marathon type activity for me that I carry out on an almost daily basis.

**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 aliassmith » Mon Nov 13, 2017 12:58 am

TygerKrane wrote:
aliassmith wrote:If you feel that is strict and you continually lose then you have different issues than your entries.

... being unable to admit that a trade entry is wrong


That is very important. Setting yourself up for success is necessary, but not at the expense of risk management. Loss is controlled by you and gain is given by the markets.

Sometimes its not about if the trade entry is wrong. It can be about if your expectations are out of sync with the markets.
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