TygerKrane's Pip-Pickpocketing

If you don't know where to start, start here! Don't be afraid to ask questions.

Moderator: moderators

jrtrading
rank: 150+ posts
rank: 150+ posts
Posts: 344
Joined: Mon Dec 01, 2014 9:04 am
Reputation: 1
Gender: Male

Re: TygerKrane's Pip-Pickpocketing

Postby jrtrading » Sun Sep 20, 2015 9:46 pm

Thanks for posting, hope its OK I'm posting in your thread.
I can also recommend Zidisha where its possible to lend directly from me to people in need, I started doing that at a time I felt like helping. Now the site does it automatically for me, growing karma each month :lol:

TygerKrane wrote:Saw this, and INSTANTLY thought of Jalarupa! :)



Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

jrtrading
rank: 150+ posts
rank: 150+ posts
Posts: 344
Joined: Mon Dec 01, 2014 9:04 am
Reputation: 1
Gender: Male

Re: TygerKrane's Pip-Pickpocketing

Postby jrtrading » Sun Sep 20, 2015 9:52 pm

And also thanks for your thoughts on work and trading.
I have realised for myself that at some point I must quit work if ever to become a professional at this.
I am planning my escape.

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Sun Sep 20, 2015 11:19 pm

I keep doing these frikkin' calculations and misplacing them, so I'm just gonna post them here! :x :x :x

Targets to Add a Zero:
  • 46.8%======6 targets
  • 39.0%======7 targets
  • 33.4%======8 targets
  • 25.9%=====10 targets
  • 21.2%=====12 targets

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

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Sun Sep 20, 2015 11:25 pm

:idea: :idea: :idea:


    Krane's Money Management

:idea: :idea: :idea:


I *MUST* start off by saying that I have an obsession with getting to max lev and letting a trade ride, despite the good sense that aliassmith and MightyOne keep advising me...

I have found it best for me to start off by dividing the currency pairs' Max Lev by 12.
This keeps my Initial Risk relatively low, AND gives me a bit of flexibility converting my leverage into other fractional amounts. As far as my Initial Risk, hard stop is 30 pips, but my entry PA usually allows me to get out earlier if PA isn't super volatile. ((My entry PA gives me an If/Then line that I can respect, WHILE feeling confident that I have given PA "a fair chance to prove itself.))
Depending on the pair, Initial Risk on that 30 pips is between 0.83% - 1.56%
((There are pairs that would allow me lower amounts of Initial Risk, but I prefer trading pairs with higher Max Levs.))

Secondly, I divide my account into a 'Fractional Account‘ of 75% .
I base my Max Lev & lot sizes off of this number, AND my Weekly Loss Limit (5%) off this amount.
•If I lose that 5% dollar amount, I am done trading for the week.
---HOWEVER, since it is based on a 75% 'Fractional Account‘ size, the loss on my REAL ACCOUNT for the week is only 3.75% :!:

    Ex:
    $1000 REAL ACCOUNT.......75% 'Fractional Account‘ = $750
    5% of the $750 'Fractional Account‘ = $37.50
    If I lose that $37.50, I am done trading for the week, but my REAL ACCOUNT [[37.50/1000]] has only lost 3.75% :!:


•FURTHERMORE, since I heavily embrace holding trades off of the Weekly Extreme for the AWESOME pip potential they have, if I get a Fractional Account-based Max Lev trade off of a Weekly Extreme (and still have the long term direction bias for the pair), I do one last add-in to get up to my REAL ACCOUNT's Max Lev...And with this, my new AVG is automatically on a 75% RET from the current PA!!! (I get easily excited when it comes to things like this ;) )

This is how I keep track of my fractions of Max Lev, and how I remind myself how much percent risk goes for 30 pips at increasing fraction sizes:

Image



As far as protecting myself from myself, my biggest, new issue was that once I built up to max leverage trading one pair, according to my blueprint, if I lost my SPACE on that accumulation, I would have a BIG problem starting my accumulation from scratch again, and would continue trading at leverages that I had no longer 'earned'.

Pretty much, I just need to ALLOW myself to be more confident in my ability to get into good entries. Trading-wise (live trading) I have ALREADY PROVEN to myself that I can do so regularly enough, but in my own head, I ~still~ talk to myself as if I have a better chance of getting struck by lightning, than getting into another series of good entries...and b/c of this, instead of calmly starting the accumulation process over again, I cling to the higher leverage like it's a lifesaver donut that I am doomed to sink and drown if I let it float away...

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

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Sun Sep 20, 2015 11:36 pm

jrtrading wrote:Thanks for posting, hope its OK I'm posting in your thread.
I can also recommend Zidisha where its possible to lend directly from me to people in need, I started doing that at a time I felt like helping. Now the site does it automatically for me, growing karma each month :lol:

TygerKrane wrote:Saw this, and INSTANTLY thought of Jalarupa! :)



Cool stuff

Jala, are you paying attention? :)

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

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Sun Sep 20, 2015 11:53 pm

jrtrading wrote:And also thanks for your thoughts on work and trading.
I have realised for myself that at some point I must quit work if ever to become a professional at this.
I am planning my escape.

In my opinion,
Ideally, you want to prove that you can trade at a professional level first, THEN quit your job

An 'account size' × 'skill level' where you can earn your job's month salary in 3-5 days (that you can accomplish this at least every three weeks; accomplishing it twice a month would be super! But even once a month in a quick period is good.)

I am looking to have seven months of salary saved up, that way, after leaving the job, I still have another five months to compound grow the trading account before I start pulling my new salary from it. Remember, each month I would be adding a MONTH'S SALARY (from trading earnings, since I no longer have a job :cry: :oops: :P ) and compounding that. If I'm doing that, while avoiding big losses, during that 5 month period, I will have earned about 2 years salary!

Of course, if i add a zero that gets me over $100,000 early on during this process, there will DEFINITELY be an account withdrawal of some sort.

I already know my bare minimum target account size to slap my boss is $16K (Of COURSE, more is better :!: )

  • $16K Minimum Account
  • + 7 months salary to live off of
  • + a track record that I PROFESSIONALLY lose no more than 5%/week
  • + knowledge that I can earn a months salary (maybe even earning 2 months salary in 2 of the 5 months)
  • + knowledge that said monthly salaries will strictly be compounded during that 5 month period

Also note that the 5 month period will be a VERY frugal one, the last thing I want to worry about is whether my 7 month savings will actually last the entire seven months; this is NOT the time to have to re-learn those lessons on patience and discipline while waiting for my OPTIMAL trade setups! :evil:

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

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Mon Sep 21, 2015 12:25 am

The reason for $16K minimum acct size: (from this post )

Image

Image

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

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 47
Gender: Male

Re: TygerKrane's Pip-Pickpocketing

Postby MightyOne » Mon Sep 21, 2015 6:49 pm

...
I *MUST* start off by saying that I have an obsession with getting to max lev and letting a trade ride, despite the good sense that aliassmith and MightyOne keep advising me
...


Max leverage, monthly/yearly charts, months of work going up in smoke like a Burning Man festival... :roll:

It is so much easier to simply divide what you're targeting ($2120) by a number that is less than the daily range (88)
and then accumulate to that $/pip. Price action willing, you will make 21.2% per week, +0 every quarter, 3 paychecks
per year.
There will be times when you are sitting at $24/pip and price blows through 88 pips to +265 pips for +63.6% (If I recall correctly,
Alias was shocked when he made 148%(?He can correct me if I'm wrong) overnight; he didn't ask for it, but if they insist :wink: )

Start at 1 unit, accumulate to 12 units, reduce to 8 units, reduce again to 4 units, and then liquidate.
If you are 20 pips from target and you reduce to 8 units then the target is 30 pips away.
If you are 20 pips from target and you reduce to 4 units then the target is 60 pips away.
You are always trying to accomplish something within the potential daily range.

If you think that price will not move up another 20 pips then you might go short 4 units targeting 60 pips &, as always, look to immediately
double to 8 units and liquidate at your target. You do not need to hold 12 units for a total of 88 pips, space is a flexible thing, the more you
learn to utilize its 'bendyness' the better you will become at being immune to losses.

Space is the difference between being mediocre and being legendary.

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 22
Gender: Male

Re: TygerKrane's Pip-Pickpocketing

Postby aliassmith » Mon Sep 21, 2015 11:55 pm

MightyOne wrote:
...
I *MUST* start off by saying that I have an obsession with getting to max lev and letting a trade ride, despite the good sense that aliassmith and MightyOne keep advising me
...


Max leverage, monthly/yearly charts, months of work going up in smoke like a Burning Man festival... :roll:

It is so much easier to simply divide what you're targeting ($2120) by a number that is less than the daily range (88)
and then accumulate to that $/pip. Price action willing, you will make 21.2% per week, +0 every quarter, 3 paychecks
per year.
There will be times when you are sitting at $24/pip and price blows through 88 pips to +265 pips for +63.6% (If I recall correctly,
Alias was shocked when he made 148%(?He can correct me if I'm wrong) overnight; he didn't ask for it, but if they insist :wink: )

Start at 1 unit, accumulate to 12 units, reduce to 8 units, reduce again to 4 units, and then liquidate.
If you are 20 pips from target and you reduce to 8 units then the target is 30 pips away.
If you are 20 pips from target and you reduce to 4 units then the target is 60 pips away.
You are always trying to accomplish something within the potential daily range.

If you think that price will not move up another 20 pips then you might go short 4 units targeting 60 pips &, as always, look to immediately
double to 8 units and liquidate at your target. You do not need to hold 12 units for a total of 88 pips, space is a flexible thing, the more you
learn to utilize its 'bendyness' the better you will become at being immune to losses.

Space is the difference between being mediocre and being legendary.


It was about 132% basically in less than a day. It was
Hard to get off that train it moved quick and textbook.
Trade Your Way as Long as It Makes Money!

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Re: TygerKrane's Pip-Pickpocketing

Postby TygerKrane » Fri Sep 25, 2015 9:58 am

Image

Week 1
-8.9%
Entries: 18

Nothing much to say.
Followed my trading plan,
Stopped trading when I hit my max losses...

And NEGLECTED to take some pending Limit Orders off of the charts. #-o

It'll probably take me two weeks to recover from this, not because the 9.9% I need to recover my losses is so big, but b/c I will be trading a bit more shy & timid to make sure I don't dig a bigger hole for myself.
Last edited by TygerKrane on Wed Oct 07, 2015 1:06 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.<!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “beginners forum”