TygerKrane's Pip-Pickpocketing

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MightyOne
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Re: TygerKrane's Pip-Pickpocketing

Postby MightyOne » Mon Aug 31, 2015 5:37 pm

aliassmith wrote:You really don't have to use all your space or
max out your leverage for that matter if you are
targeting 21% targets.


This is how I do it:

Let's say that you have $1000 and you are targeting a new balance of $1212

max size = ($212 / 88), $2.40
This brings the target within reach of the daily candle.

Min size = ($2.40 / 12), $0.20
This is large enough to reach your target quickly and small enough to not suffer
huge drawdowns.

Max risk = ($0.20 * 40), 0.8%
35 is 0.7%, 30 is 0.6%, and so on.
You will usually enter within space so your risk will likely be 0.7% or better.
At max risk, every 5 losses is -4%.

If you double 3 times and increase by 50% 1 time then you are at max (the order doesn't matter).

Once you get to "max. size" you focus on riding the daily chart to your target; you still watch the
small charts but you are more inclined to let the trade run.

Once you have added zeros and are more worried about keeping what you have than making more
of it then drop your risk to 0.08%

Withdraw 88% of the profits every time you add a zero & there will be no black swans in your future.

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Re: TygerKrane's Pip-Pickpocketing

Postby aliassmith » Mon Aug 31, 2015 5:54 pm

MightyOne wrote:
aliassmith wrote:You really don't have to use all your space or
max out your leverage for that matter if you are
targeting 21% targets.


This is how I do it:

Let's say that you have $1000 and you are targeting a new balance of $1212

max size = ($212 / 88), $2.40
This brings the target within reach of the daily candle.

Min size = ($2.40 / 12), $0.20
This is large enough to reach your target quickly and small enough to not suffer
huge drawdowns.

Max risk = ($0.20 * 40), 0.8%
35 is 0.7%, 30 is 0.6%, and so on.
You will usually enter within space so your risk will likely be 0.7% or better.
At max risk, every 5 losses is -4%.

If you double 3 times and increase by 50% 1 time then you are at max (the order doesn't matter).

Once you get to "max. size" you focus on riding the daily chart to your target; you still watch the
small charts but you are more inclined to let the trade run.

Once you have added zeros and are more worried about keeping what you have than making more
of it then drop your risk to 0.08%

Withdraw 88% of the profits every time you add a zero & there will be no black swans in your future.


I see that you wrote .08% and it seems low to me. If you
have $1000 and turn it into $10,000 you will have $2200
after you withdraw 88%. So .08% of $2200 is $1.73 which
is small amount to work with.
Trade Your Way as Long as It Makes Money!

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Re: TygerKrane's Pip-Pickpocketing

Postby MightyOne » Mon Aug 31, 2015 6:44 pm

aliassmith wrote:
I see that you wrote .08% and it seems low to me. If you
have $1000 and turn it into $10,000 you will have $2200
after you withdraw 88%. So .08% of $2200 is $1.73 which
is small amount to work with.


0.08% requires an account size of $10.000+

At $10.000 your min size would be $0.20/pip & at this size there is
one extra step; getting to $2/pip.

Step 1: $0.20: $0.40, $0.80, $1.60, adjust to $2 after exit.

After 3 doubles you are at the same trade size as the person risking $80
but you are risking only $8.00(!).

Step 2: same as before, accumulate to $24/pip.

For 3 extra steps you increase your R/R from 26.5:1 to 265:1

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Re: TygerKrane's Pip-Pickpocketing

Postby MightyOne » Mon Aug 31, 2015 6:50 pm

Oh, I forgot to mention that more risk is simply more risk & more profit is more profit.

Your initial size says nothing about your trades potential profit. :shock:

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Re: TygerKrane's Pip-Pickpocketing

Postby aliassmith » Mon Aug 31, 2015 10:52 pm

MightyOne wrote:Oh, I forgot to mention that more risk is simply more risk & more profit is more profit.

Your initial size says nothing about your trades potential profit. :shock:


Ok I follow you now. It's must be that I don't consider
.5% to 1% high risk.
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Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Wed Sep 16, 2015 9:51 am

aliassmith, MightyOne,
Thanks for the input, I have read these last two pages several times, letting the content sink in.

The more comfortable I can get with doing the right things, the less stressful/nerve-wracking my trading becomes...until it becomes as effortless as driving a car. Image

Like Uber...except I won't have to pick up passengers to make money :!: :idea: :shock:

:D :lol: :D

**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 » Sun Sep 20, 2015 8:55 pm

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

--Amen--








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 » Sun Sep 20, 2015 8:56 pm

I doubt I will be trading much this week, as it is the last week of my busy season, but in the spirit of forming good habits, these are the blueprints I would be following...
Note that the EG H8 chart has a lot more horizontal lines on it than I would usually like, but they actually do have some relevance to them, AND since I don't plan on trading much this week, I decided to let them hang around instead of taking some of them off.

AU:
Image


EG:
Image


EU:
Image


TRY/JPY, aka TJ:
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 » Sun Sep 20, 2015 8:57 pm

I was having a conversation and realized how my job was preventing me from being a better trader.

I was explaining how it's like playing baseball and how even though you always have the ability to swing, it's better to wait for the RIGHT pitches to come your way. ((In essence, that you CAN'T MAKE the pitcher do ANYTHING, you just have to stay attentive and don't give in to putting an attempt on any old piece of crap pitch that comes your way.))
I realized that wanting to get away from my job had me taking a lot of swings at sub-optimal pitches.

Basically, when I'm not trading and just reviewing my screenshots for study, I KNOW what a good entry looks like to me, how to wait for my proper entry vs. pass on it --instead of chasing price. And I seem to have a good enough ratio of trades that enter my zone and then give me my proper entry if I'm patient. When I'm live trading however, I seem to lose the confidence that my proper entry will show if I just give it some time and end up getting myself in trouble that way. ((I get this stupid impatience that ALL my setups are going to run off, going in my intended direction, but never giving me my proper entry.)) I also disregard the PA info that could be telling me that my predicted turning point might not be a turning point at all...

Basically, in that convo, I was just able to uncover and verbalize that I was trying to rush the trading opportunities that came my way, instead of passing on the 'iffy' scenarios, b/c I am just.that.desperate to get away from my job asap.
On the plus side, I'm ABSOLUTELY certain that when I am ONLY trading for a living and no longer working, that this patience issue will no longer be an issue, b/c I will no longer be stressing getting away from something.

All in all, a good convo was had! :D

**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 » Sun Sep 20, 2015 9:32 pm

Saw this, and INSTANTLY thought of Jalarupa! :)

http://forexnation.org/

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**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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