TygerKrane's Pip-Pickpocketing

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pawelklos
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Postby pawelklos » Thu Dec 15, 2011 7:45 am

Space Wars is a good idea.

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Postby Captain Pugwash » Thu Dec 15, 2011 9:36 am

Hey Tyger

I couldn't help but notice that MO posted his Space post after you mentioned 11.xx% was "so near and yet so far".

I have been very quiet recently because I have spent the last month getting my head around this Space thing.


the 12% resonated with me because - after starting a new Demo account to explore space I increased the account by 12% in 8 trades (6W, 2L) only ever risking 2% risk on the trade sequence. (the first trade was a loser)

Using Space is a very powerful way of compounding your good trades.

Then I buggered things up by taking a disastrous series of trades (12 losers - and half of them I shouldah known better). :oops:

But here's the thing - when using space, and you make a bunch of errors, it seems harder and harder for the market to take your money from you - I am still 1% up ( I stripped my original risk from the trade sequence somewhere during the "up" sequence).

I also know how quickly I can leverage that one percent to get back where I was. - this is a pretty cool feeling.

Using Space is like a mathematical "sleight of hand"

If you haven't tried this money management technique yet, please, please give it a try - or try mirroring your trades, using space, on a separate account

Space is a REAL buried treasure 8)
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

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Re: Instant Self-Discipline, Weeks 7, 8, 9

Postby TygerKrane » Sun Jan 01, 2012 5:15 pm

We Are Traders - A Tribute to All Those Trading the Markets


:!: :!: :!:

Image

Week 7
12/12/11 - 12/16/11
31 entries
-8.87%

:shock: :shock: :shock:

I went against my trading plan and missed 3 *great* days of trending action that my analysis is specifically meant to catch and get me into. So from Wednesday evening onwards, I got reckless and I guess was a bit upset about how I screwed up the trading action that fell right into my hands; so I ended up getting over-leveraged as I was attempting to get back into the flow.





:!: :!: :!:

Image

Week 8
12/19/11 - 12/23/11
1 entry
-0.36%

:shock: :shock: :shock:

Took 1 trade, realized I was WAYYY too busy for the week!! LOL

Charlie Brown FTW!!
http://www.youtube.com/watch?v=d-UmQauo4iw





:!: :!: :!:

Image

Week 9
12/26/11 - 12/30/11
0 entries
0%

:shock: :shock: :shock:

Wanted to take this week to just look over a lot of screenshots and reanalyze what I'm doing for entries and when...ended up not doing even that. However, I did take the time to go through Space Wars two times, which was a much, much long overdue thing for me.
Realized I should try and write something objective for when I will take pullback entries vs. breakout entries; I find that if I am organized at least that much to be consistent in my actions, then whether I am right or wrong, it's easier to make the next set of observations to compare what has actually happened. Hopefully I can settle down to this in the next day or two so I can feel better getting back into the trading.




[highlight=lightgreen]===============================================================================================================[/highlight]

Overall, I am glad with doing this Instant Self-Discipline thing, out of 9 weeks --(or 7, if you don't count the last two weeks)-- I only spazzed out for two of them. :oops:
I was actually considering depositing money and resetting back to my $1250 mark to start the New Year off with. But no, it's better to keep this running balance as I try and make this objective analysis of when I want to take pullback vs. breakout entries; also for the fact that at some point, I'm going to have to try implementing the whole Space Wars MM strategy.
Well, I originally stated that my failure point would be my account reaching $750, so, for the time being, I'll stick with that and see what happens.

Other than that, I found myself wondering or trying to compare
1)Trading Forex
vs
2)Playing against AI in Chess

Which one should be more difficult?
I was thinking that maybe playing AI in Chess should be more difficult. (I'm no expert in Chess, btw)
I'm thinking this b/c I think that Chess has many more different moves at it's disposal than Forex. Well, I would personally only define the moves in Forex as
  • Price Making new Highs/Lows
  • Price Reversing from new Highs/Lows
  • MOMO
  • Price Returning to MightyZone
  • Price Breaking Through MightyZone
  • Price Returning to Consolidation


We Are Traders - A Tribute to All Those Trading the Markets


[highlight=black][size=117][font=Comic Sans MS]Instant Self-Discipline,[/font][/size][font=Tahoma] trackback[/font][/highlight] wrote:
Week 0 wrote::!: :!: :!:

Image

:shock: :shock: :shock:

I think that I know what I'm doing, but one of my current weaknesses is that when I'm on my own trading, sometimes I get these megalomaniac visions of grandeur. Definite account killer.
So I figure I might put myself out there for public scrutiny to make myself a bit more accountable for my actions. I remember when prochargedmopar was posting his account (I think sometime last year, or late 2009), I thought that was heroic. :oops: :smt055 :smt066

The first two weeks at the very least will start off very slow, as I will feel a bit more cautious/apprehensive at the start of this Instant Self-Discipline experiment, but there is no doubt that this will be a GOOD kind of caution.

¤I'll do this at the end of each week. I have no idea how this will turn out (I couldn't fully tell you which side of the 95% I am on just yet.)
¤I'll try to limit my losses to -5% a week.
¤I'll go back into the shadows to regroup and reorganize if my balance gets -40% from this starting point.

As LittleKnown pointed out earlier, {paraphrase}"Won't this put unnecessary added pressure on myself?"
I can only say, back in his prime, Mike Tyson was knocking the heads off of 95% of the people out there; so I wouldn't be too embarrassed if I went in the ring with him and people saw me get my head knocked off too.
95% of traders fail, therefore...

Basically, for my [font=Comic Sans MS]current [/font] level of trading ability, I need to remember to keep a Marathon Mentality, and not the mentality for a Mad-Dash-for-Cash.

I will probably start off each week, and every few days by watching, We Are Traders - A Tribute to All Those Trading the Markets. 8)




Week 1 wrote::!: :!: :!:

Image

Week 1
10/30/11 - 11/4/11
43 entries
-4.22%

:shock: :shock: :shock:

First off, I'll start off by saying that it was actually a surprise to me, and that in a little way, I'm kind of glad with the outcome of this week. I maintained a small level of losses each day, but on Friday, I got caught up in some NFP nastiness, and so I was pretty certain that my losses where somewhere in the -6% area. So I was elated to see that I hadn't even crossed 4.5%. Probably just goes to show, having the discipline to keep losses small, and a Marathon Mentality might can help to make things pay off in the end.

I did start this off VERY slow however, I'm not trying to show off and be macho, and that was a good thing. All my entries were at 1:1 , 2:1 leverage and I couldn't get a damn thing to stick, it was disgusting really, it could've been a morale killer. It got so much so, to the point that I actually meditated twice this week to try and get back in touch with Whatever-The-Hell-It-Was that made me so confident in the first place :o .

This week coming up will be a short one for me, I'm going to Cali for my birthday :smt113 , so I'll probably only have two good days to look at the market. {If I trade while on vacation in Cali, then I'm obviously doing something WRONG :!: } I assume that the week after might be kind of slow as I get readjusted when I come back as well. This is beginning to make my experiment sound very boring isn't it? Slow week this, low leverage that, excuses excuses...

Other than that, been thinking of some ways to fine tune my entry algorithm.

Charts to follow in next post.




Week 2 wrote::!: :!: :!:

Image

Week 2
11/6/11 - 11/11/11
41 entries
-4.02%

:shock: :shock: :shock:

From what I remember from this past week, I was just being lazy and trying to catch an easy swing move I could hold onto, so I could at least be in a trade while I got ready for my trip. I was definitely overtrading, considering my lack of focus for the week.
Was back in the situation where I had a lot of little profits I could've taken if I wasn't so focused on something bigger.
One morning was looking at M1 charts, I for some reason felt really comfortable with the PA there, felt that if I had profits, I would love to test scalping off of that at a decent leverage, b/c it felt much better for me to just put my stop at the last swing high/low and to respect whatever happened afterwards in my attempt to grab a quick 1-5 pips.
Had another idea to bring me back to trading based on correlated pairs. The reason is to help me try to get into continuation trades more b/c I'm naturally always trying to catch the reversal of a trend.

Other than that, I tried to take more pictures of my trades, but it was actually really disrupting and making things stressful.




Week 3 wrote::!: :!: :!:

Image

Week 3
11/13/11 - 11/18/11
21 entries
-1.37%

:shock: :shock: :shock:

My mind has been revolving around yet another way to use correlations between pairs, I've tried a couple times in the past, this time, I see something totally different from those other times for me to make observations on and react to. Additionally, it doesn't really deviate from the way I try to trade now, so I will integrate what I see with them a bit going forward I think. It is definitely for the purpose of picking pairs with great potential for swing/multi-day moves.
That being said, I need to ground myself first by taking smaller targets, again this week I came across some 10-15pip gains that I never took.
I think because I knew that I would be trading less for the week that just past, I went a little higher in leverage more often, than I did for the previous two weeks.
Friday was a nice AU trade that helped me out a bit, I'll post that trade up next. But generally speaking this week I was totally clueless with everything, I wanted to turn of my trading station everytime I turned it on, bc things just made no sense to me...even charts that made me naturally go :D , the happiness stopped there bc I just couldn't figure out how to merge into the market. So I guess on Friday, charts where as equally nice looking as they were all week, but I felt a bit more in sync with things as the week came to an end. Therefore I would say, unfortunately, b/c of the holiday this week, I don't think I'll really get a chance to ride that "momentum" (if it is actually even there in the first place :oops: ), I don't have expectations for doing much this week. Who knows, maybe correlations will prove there point and hook me up regardless :oops:

Also, if I can move fast enough tonight, I might put up a few other observations that have made impressions on me... looks like I'll be going contrary to withnail's AU supply & demand observations. I hope time permits and I can put up most of what I am thinking about.

Also, I'm VERY HAPPY with my new FXTS2 setup (took me forever to get the windows rearranged to the right position), and the the latest updates that FXCM put into the program this weekend.........

They're Great!!

Image




Week4 wrote::!: :!: :!:

Image

Week 4
11/20/11 - 11/25/11
25 entries
-5.47%

:shock: :shock: :shock:

With the week being Thanksgivings, I decided to let myself be a turkey :D . For the last time though. In my next post(s) <if there is time> I want to quickly markup the trade that started my downward spiral, and the Friday trade that would've made up for it had I been thinking clearly.

I'm pretty certain that I get a good number of trades that yield 10-15pips before I get stopped out (or maybe I just have selective memory on this topic.) Either way, probably time that I take the quick pips :p . I'm pretty sure there are enough of them to snowball into a more positive outcome for my weekly balance (and my trading psyche.)
[highlight=lightgreen]I Swear to you, it's like I'm constantly Snatching Defeat from the Jaws of Victory with this.[/highlight] :lol:

I'm very anxious for this week and the next few to try out a filter for choosing my pairs and directions. I've spent much, much, MUCH time thinking about it; maybe in the end it is just a placebo effect that keeps me uni-directional for a longer time period. Now that the week has started, just dealing with the fact that even though you can visually backtest thousands of bars in minutes, in real time, you can only just wait hours and hours...and I also have to deal with the fact that even if I DO have something that helps me better pick pair & direction, I'm STILL going to have to take quick pips regardless and leave lots of pips on the table in these beginning stages.




Week 5 wrote::!: :!: :!:

Image

Week 5
11/28/11 - 12/2/11
12 entries
1.39%

:shock: :shock: :shock:

Purposely didn't get too involved this week, I actually REALLY wanted to post about what happened Thanksgivings week, so that's why I refrained from getting into a whole lot more trading on top of that. I'll try to take a review of things, if I can't post, I'll just mentally review and move on.




Week 6 wrote::!: :!: :!:

Image

Week 6
12/5/11 - 12/9/11
36 entries
2.51%

:shock: :shock: :shock:

Too drunk from the office Holiday party to try and say much, but I had to get this post out at the very least, lol.
Positive result for the week, but not the stable kind of performance that I can make a career out of...the week as a whole was good, but between Thurs night and the rest of Fri, I got myself down to -5% ON THE DAY. It got to the point where I overleveraged and turned off the trading station :evil: . Turned it back on some hours later and was able to end my Fri at +1.xx%. Hope to discuss more the trades later. Gonna miss those guys when I leave the job 8) :P

Other than that, it's funny to think that all I need is 11.8% gain from this point to get me back to my starting balance...so close, yet "So Far Away":

http://www.youtube.com/watch?v=8UM249-WfP4

Carole King FTW!!
I think I'll pass out the rest of the night to this... :smt030


Last edited by TygerKrane on Sat Jan 07, 2012 4:38 pm, edited 1 time in total.

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Thanks for giving me some SPACE...

Postby TygerKrane » Mon Jan 02, 2012 7:08 pm

Sandra, MightyOne, dojirock & captain pugwash,
Thanks for the posts/comments. And yes, Cap'n, Space IS a real buried treasure!! (I've finally gotten a real good look at Space Wars.) :smt024

Now I just want to put these latest posts together...

MightyOne wrote:Image


MightyOne wrote:Position is the point of greatest risk (5%?) and rests at the other end of your space; you are considered long/short from total risk.

This definition of position is mostly a psychological trick to keep you focused on the trade instead of every little up and down tick.

Space is total risk + any profit. Space converts to lots and lots convert to space; adding to a position cuts down your space while subtracting from your position increases your space.

If 5 lots and 100 pips of space = 5% risk then 1 lot and 500 pips of space = 5% risk:
5/1 = 5, 5 * 100 = 500 &
1/5 * 500 = 100 pips.
If you have 1 lot and you add 4 lots (1/5) then your space (500) is reduced to 20%.

So long as you have lots you have space and that is why it is important to go after as many lots as a safe position will allow.
Most people will enter with 3 lots and only after a large move they buy another 2 lots. Often times it is far better to buy 2 lots (3/5) and place a stop loss for 2 lots.

On small timeframes you enter with lots sized to fibo: 3/5, 5/8, 8/13 &
exit lots in fibo order: 13/8, 8/5, 5/3.
When doing this, you know that you are cutting your space to ~60% and increasing space by ~66% so it is really easy to make a snap decision using only your eyes.

On large time frames you can make more risky plays because the space that you are working with is just so large; it takes price less time to reach 40 pips than say 200. So on the larger charts I may do something like 3/7 (reduce to 42%) and use a 7/4 stop (increase space by 75%). If the stop were on breakeven (something I don't believe in) then the total reduction of space would be 26% (100 down to 42 and back up to 73 and change)

There are only 2 trades in the technical word, retracement and breakout, and you don't need to study them (momo/bdp is a retracement trade, Rat is breakout, ZL is retracement, waiting for price to return to the open to reverse is a breakout trade).

The only thing worth study is money management and psychology.


dojirock & MO wrote:Actually, I have a question now :?:
I tried to figure out how your placing the stop. If my risk per trade is 5 percent then it is that pip equivelent from where ever the entry is? I hope you know what i mean....
If my risk is 5 percent or 40 pips...and i enter at lets say 1.5000 then my max space is 1.5040 ? The initial space is always 5% or 40 pips from my entry no matter where it is?

Is this close for the initial space?

dojirock
[hr][hr]If you enter at 1.5000 with 40 pips of space then your position is either 1.4960 or 1.5040.

If you go short with 5 lots at 1.5000 and place a stop loss for one lot at 1.5010 then you will have 4 lots and 37.5 pips (from 1.5010) if your stop is hit.
Starting size: 5
Ending size: 4
Space: 30
5/4: 1.25 * 30 = 37.5

To answer your question...

Your space is calculated from your last point of action.

Initial/now previous action was 1.5000 so your space was 40 pips from 1.5000.
When you reduced to 4 lots at 1.5010 then your space was 37.5 pips from 1.5010.



The funny thing is that it was another recent post from MightyOne that made the lightbulb finally turn on for me so that I could understand Space Wars better:(from bettlebox's thread)

:smt064 MightyOne wrote:It was never about CC, but simple ideas formed through comparisons.

Once an idea is formed, it is just a matter of using money management (space/position) to make it work.

I find that it is better to act now than it is to have a better late than never approach to trading; if it is correct to buy on a breakout then it is correct to buy now and let MM handle the rest.

I was talking with my father the other day about MM:

You have 5 contracts and 100 ticks of space

You plan to exit 2 contracts on a stop to "refresh" your space to 100 ticks

3/5 = 0.6 & 100 * 0.6 = 60 ticks

If you set a stop at -40 ticks then you will have 100 ticks of space, from your stop, and 3 contracts.
It is not important that you are sitting with a loss. What is important is that you have both space and lots so you are not digging in your wallet for another 5%.

If price goes up and your space is 160 ticks then adding 3 lots (5/8 ) brings your space back down to 100 ticks.

Maintaining a large lot size is, through the manipulation of space, is your sole focus; profit is the result of this.

He didn't understand much of it...some of it is better than none of it I suppose.


[highlight=darkgreen]It'll definitely be a journey for me to get comfortable using this, I'll admit.[/highlight]
Last edited by TygerKrane on Mon Jan 02, 2012 7:13 pm, edited 1 time in total.

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Postby dojirock » Mon Jan 02, 2012 7:13 pm

Question please....

As we add lots our space becomes smaller?
and
As we cover lots the space becomes larger?

doji
"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!"

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Postby TygerKrane » Mon Jan 02, 2012 7:20 pm

dojirock wrote:Question please....

As we add lots our space becomes smaller?
and
As we cover lots the space becomes larger?

doji

Yes

([Starting # of lots] / [Ending # of lots]) * [The amount of Space <from the far back POSITION to the current price at which you are adding or subtracting lots>] = The amount of pips backward from current price that your new POSITION is at

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Postby TygerKrane » Mon Jan 02, 2012 7:44 pm

Example:

100pips with 5lots equals 5% of your account (i.e. you are trading at 5:1lev)

You wish to risk 5%max on a trade
You go Long EU at 1.5000, 5lots
Your POSITION is at 1.4900 (i.e., if your 5lots go -100pips, you have succeeded in losing 5% :cry: )

Price goes 30pips in your direction (EU = 1.5030)
Your POSITION is now 130 pips away from you (i.e., if price now goes -130pips against you, you will have lost...5%)

Looking at candle/MOMO formation, you want to raise your position so that it rests below a Swing Low, or a MOMO origin that catches your eye.

You will ADD lots to shrink down your space :!:
(i.e., you feel you don't need your ultimate POSITION to be 130pips away from what is going on, you want to shrink that space down)

[highlight=#FF99FF](Starting #of lots / Ending #of lots ) * The number of pips <from POSITION to Current Price that you are doing this adding or subtracting at>[/highlight]

(5lots / 8lots) * 130

.625 * 130 = 81.25 (lets round it to 81pips)

So, at EU=1.5030, you now have a total of 8lots (you bought 3lots at 1.5030)

1.5030 - 81pips= 1.4949

The Result: You have 8lots at 1.5030, if price goes 81pips against you, you will have lost...5%


[highlight=pink]JUST A REMINDER:[/highlight]
Your POSITION (the price at which you ultimately lose 5%); It is a Catastrophic Stop; you're not actually trying to let price tag you out back there!!
Last edited by TygerKrane on Mon Jan 02, 2012 8:47 pm, edited 2 times in total.

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Postby TygerKrane » Mon Jan 02, 2012 8:43 pm

Example 2:

100pips with 5lots equals 5% of your account (i.e. you are trading at 5:1lev)

You wish to risk 5%max on a trade
You go Long EU at 1.5000, 5lots
Your POSITION is at 1.4900 (i.e., if your 5lots go -100pips, you have succeeded in losing 5% :cry: )

::Let's say this is your position, but you are going to bed (EU = 1.5000) and are worried about getting spiked out by overnight financial releases in Europe (however, you don't want to outright close your position b/c you think the outcomes will give you an ultimate directionality for even longer term moves.)::

You feel that you can definitely get spiked out with only 100pips Space.
You will SUBTRACT lots to increase your space :!:
(i.e., you feel you need your ultimate POSITION to be greater than 100pips away from what is going on, you want to enlarge your space)

[highlight=#FF99FF](Starting #of lots / Ending #of lots ) * The number of pips <from POSITION to Current Price that you are doing this adding or subtracting at>[/highlight]

(5lots / 3lots) * 100

1.66 * 100 = 166pips

So, at EU=1.5000, you now have a total of 3lots (you subtracted 2lots at 1.5000)

1.5000 - 166pips= 1.4834

The Result: You have 3lots at 1.5000, if price goes 166 pips against you, you will have lost...5%)


[highlight=#CCFF00]==============================================[/highlight]

166pips POSITION not enough for you to sleep soundly??

Lets SUBTRACT/SHED/COVER/CLOSE-OUT more lots to get some more space then!

(5lots / 2lots) * 100

2.5 * 100 = 250pips

So, at EU=1.5000, you now have a total of 2lots (you closed out 3lots at 1.5000)

1.5000 - 250pips= 1.4750

The Result: You have 2lots at 1.5000, if price goes 250 pips against you, you will have lost...5%)


[highlight=#FFFFCC]^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^[/highlight]

The more lots you are starting out with, the more choices you have in subtracting lots to enlarge your space.

Here, going from 5lots to 3lots (5/3)gave you 166pips
going from 5lots to 2lots (5/2)gave you 250pips
(5/3) and give yourself 166pips
(5/2) and give yourself 250pips


But if you were starting out with more lots, say, 100pips with 8lots equals 5% of your account (i.e. you are STILL trading at 5:1lev)
Then instead of your space jumping from 166 to 250, you could customize it more and do:
(8/5) and give yourself 160pips
(8/4) and give yourself 200pips
(8/3) and give yourself 266pips


Starting with 15lots?
(15/9) and give yourself 166pips
(15/8 )and give yourself 187pips
(15/7) and give yourself 214pips
(15/6) and give yourself 250pips


^^^^^^^^^^^^^^^^^^^^^^^^^^^
>>>FYI
>>>(5/4) would give you 125pips<<<
>>>(5/1) would give you 500pips<<<
Last edited by TygerKrane on Tue Jan 03, 2012 9:31 pm, edited 1 time in total.

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Items catching my Attention recently...

Postby TygerKrane » Mon Jan 02, 2012 9:14 pm

The following posts have caught my attention recently, I'd like to keep them together:

[highlight=#FFFFCC]*****************************************************[/highlight]

http://kreslik.com/forums/viewtopic.php?p=60319#60319
Your space is large when the trade is low probability (there is only one lowest low but many lower lows) & smaller when the trade is high probability (the direction of profit).

http://www.kreslik.com/forums/viewtopic ... 9281#49281
My risk is smallest when I am most vulnerable

http://kreslik.com/forums/viewtopic.php?p=50104#50104
MightyOne wrote:
Jalarupa wrote:I discovered a major flaw in my approach with starting off too big... It means that you can't go big later on... So no more high leverage scalps :( only normal leveraged scalps... :cry:

Lesson learned... Back to the drawing board... :P



It also means that you are overexposed when you are most vulnerable.



[highlight=#CCCC00]##########################################[/highlight]

http://kreslik.com/forums/viewtopic.php?p=43873#43873
[font=Verdana][highlight=olive]THIS strategy, however, is more to my liking and so I have a greater motivation to try and include this into my trade management.[/highlight][/font]

Posted: Fri Mar 27, 2009
:idea: MightyOne :idea: wrote:It is not like I will ever get a chance to trade it as I have to get stopped out :roll:

Because I only trade in a long term direction I have other options available to me.

Swarm Entry Method:

Risk 3% for 2% and then then risk 0.5% per trade with the goal of accumulating a position in the direction of the high TF momo candle.

If 2% is lost then risk 3% and scalp another 2%.

Do not move stops, set a TP, or click out of the 0.5% trades as
you are ACCUMULATING units.

Goal is to accumulate 6 units and exit after a high TF momo candle or when you feel an exit is justified after accumulation is complete.

My goal is always the same:

ZERO DRAW DOWN (of my own money :wink:)

To accumulate 6units at 0.5% each, means to try and build up to 30:1lev

[highlight=#CCCC00]##########################################[/highlight]

:idea: MightyOne :idea: wrote:Day trade in one direction for a long term duration and reinvest profits to increase staying power until your goals are met or you run into the
next period.

So what if you "worked hard" and your short term profits get erased.
So what if you lose your risk percent on a trade.

It is nearly impossible not to make money risking 0.5% per trade
and at 4% per trade your 1 day profit potential...well its just sick.

Image



http://kreslik.com/forums/viewtopic.php?p=13942#13942
Exiting a trade and resizing to a larger lot size is worth more than a 100, 1,000, or 10,000 pip move.


:idea: MightyOne :idea: wrote:...

So let us say that you have $1,000 and are grudgingly willing to lose $45 on this trade. Your mind is made up, either you are going to take a :shock: profit or take a loss.

Your first trade you sell 5,000c leaving you with a 90 pip pincushion.

If the technical picture changes then you exit for a smaller loss :P

Let us say that a CC closes in your direction & that your average entry will make for good S&R.

Your second trade you sell 5,000c leaving you with a profit cushion & another 45 pips beyond that if need be.

After price moves a [s]good[/s] :shock: distance from your average entry then you sell 10,000c.

Notice that no small price spike is going to take you out of the market, you are in it to win it.

The object is to lose as little as possible while making as much as possible:

1. Enter with small orders when it is more likely that price will make a higher high (price is near the high).

2. Place averages above S&R after price closes in your direction.

3. Push with another wave of orders.

5. WAIT PATIENTLY

6. Place a limit order on the lowest low &/or lowest close.

7. Accept that you may give it all back :(

...


For the above and below quoteboxes, note and relate how much PA I am looking for if I want to reduce my POSITION from 90pips to 45pips, while adding lots to end up with 20:1 as a minimum leverage to aim for before my Close-Out-All exit...


:idea: MO :idea: wrote:You short term traders give me the most trouble :lol:

$10,000 account:

Entry 1: Sell 50,000c (~90 pip pincushion)
Entry 2: Sell 50,000c (~45 pip pincushion)
Entry 3: Sell 100,000c (You should have a large profit cushion)

Max loss is 4.5%

Once you are in position you make 5% per 25 pips...which is freaking insane as you could make 90% in a week (sextillions)

Entry 3 is for long term traders!

If you are not going to stick around awhile then don't even think about it.

You should be able to see why I tell you to trade based on daily+ PA.
Last edited by TygerKrane on Mon Jan 02, 2012 9:32 pm, 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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dojirock
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Postby dojirock » Mon Jan 02, 2012 9:30 pm

Thank you!...

I think i get it...let me sulk on it...lol.........I couldnt understand the part of why we would let it go to our stop.... ok....ER stop....to keep a 5 percent from ever being more that a 5 percent loss....with the upside of a major pecent increase in profit percent....????

on the right track?

doji
"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!"

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