TygerKrane's Pip-Pickpocketing

[aliassmith]

RESET
Apparently I've changed...
as my account went below $2000 (and stayed there), I was no longer able to trade it as a serious account. Besides from trading without committing to a higher timeframe bias, I know it must've been gambling when I didn't even bother to calculate proper lot sizes anymore.
So I took some time off to focus, and see what I could learn from those moments of bad discipline.

• Also, to refamiliarize myself with what exactly it is that I want to pay attention to, as far as reading PA goes.
• Also, to re-evaluate my expectations of my trade entries (to avoid getting over-confident about any particular market-turn that I am predicting.)

I am going to take one more week off to review things, then bring my account back up to $2200, and begin trading again, this time with a calmer, more patient perspective. (It will be easier this time around since I no longer have an end-of-year deadline that could possibly push me to rush things.)

There were two things I liked about my last go-around tho, one being that I was pretty good with taking screenshots of the trades, from the entries, to various adjustments throughout the trade, to the closing.

Another thing I liked was getting a confirmation that I DID prefer to measure my lots in fractional amounts, starting with 1/12 of Max Lev. ((And using 75% of my account as the base to make this calculation.))
I considered using 1/16 and doing away with the fractional 75% of my real account, but,......no.

I don't see your account staying below $2000 being a function of it's actual amount. If you pull one good trade
off you'll double up right? Like PRO said if you can't be trusted to make gains with less than $2000 you can't make it by adding more.

[TygerKrane]

Ok! So I've come up with an elegant solution for this 'kid in a candy store' dilemma I am having in choosing pairs to trade with.
Important to me is not trading the same currency on two different pairs simultaneously.
Secondly, I think I need to make it explicit that I am settling on 8 Targets of 33.4%, to add a Zero to the account.

So I've outlined 8 sets of triplets (8 sets & 8 Targets are a coincidence, BTW ).

1. I'll choose any two sets out of the eight to monitor at one time. (It doesn't matter if a currency, or, currency pair(s) is/are repeated between the two chosen sets.)
2. Wait for a PA setup that I am SUPER-comfortable with, and then take the trade.
3. While that trade is running, or while I've put that trade on pause with a temporary Full Exit (aka Virtual Hedge, or 'VHedg'), I will ONLY take trades on one of the other pairs within the triplet that I have started trading.

I've considered '12 targets of 21.2%'...I currently prefer having to only accomplish 8 Targets rather than 12 to reach a goal; but I have to ask myself:
Is it easier to collect 50 pips 12 times, or 82 pips 8 times

[TygerKrane]

I don't see your account staying below $2000 being a function of it's actual amount. If you pull one good trade
off you'll double up right? Like PRO said if you can't be trusted to make gains with less than $2000 you can't make it by adding more.

All very true.
It was definitely a psychological issue on my part.

This time around, I would definitely face the reality responsibly if I find myself in the same situation. (meaning, I would keep grinding away in a PROFESSIONAL manner.) 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

I just prefer having a closer road to making the dollar gains have a more worthwhile amount.

[TygerKrane]

Funny that I was sipping on a Moscow mule as I read this post

I was in the mood for a Bourbon Apple Pie shot, but they didn't have apples at this particular bar.

Priorities:
Become a millionaire first,
THEN, a drunkard

I actually can't imagine any place I've been to having ginger beer on hand to make a Moscow Mule. I guess I need to go to classier places...or just ask around more, someplace might pleasantly surprise me.

I've actually been having a taste for Pecan Pie recently, a drink that hits THAT urge would be irresistible for me. I even made an impulse purchase to this effect...was at the supermarket and picked up a bottle of Pecan Pumpkin Pie body wash...probably the gay-est thing I've done in ages, lol.
Anyways, I have to resist not swallowing the soap when I use it...stuff pours out like Pecan-flavored maple syrup...

[aliassmith]

I don't see your account staying below $2000 being a function of it's actual amount. If you pull one good trade
off you'll double up right? Like PRO said if you can't be trusted to make gains with less than $2000 you can't make it by adding more.

All very true.
It was definitely a psychological issue on my part.

This time around, I would definitely face the reality responsibly if I find myself in the same situation. (meaning, I would keep grinding away in a PROFESSIONAL manner.) 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

I just prefer having a closer road to making the dollar gains have a more worthwhile amount.

I guess I figure if you can add a zero you'll have $19000
without adding more risk or $22000 increasing your risk.

I would understand if you make 10% a month and need
$10000 a month so you require a specific account size.

[prochargedmopar]

MO,
AS I LOVE GINGER, I had to give Moscow Mule a try.
And especially since my favorite drink to start off with when I go out is a Vodka Gimlet (vodka + lime), this was definitely up my alley!
Didn't have a copper mug, like they suggest serving it in, but it's now definitely a new mix I'll keep up my sleeve.

Funny that I was sipping on a Moscow mule as I read this post

I was in the mood for a Bourbon Apple Pie shot, but they didn't have apples at this particular bar.

I hope this is part of the leftovers from your Turkey day CARB BINGE.
LOL

[MightyOne]

If you go with 21.2% then
1 target per month: +0 per year
2 targets per month: +00 per year
3 targets per month: +000 per year.
I don't think that you need to be any more aggressive than that.

jala3.png (21.57 KiB) Viewed 2499 times

[MightyOne]

I hope this is part of the leftovers from your Turkey day CARB BINGE.
LOL

I've been ruining my nights with fast food burgers and alcohol

[TheRumpledOne]

If you go with 21.2% then
1 target per month: +0 per year
2 targets per month: +00 per year
3 targets per month: +000 per year.
I don't think that you need to be any more aggressive than that.

jala3.png

What do $min and P%PS mean or indicate??

MO, your posts almost always make me ask questions...

[MightyOne]

If you go with 21.2% then
1 target per month: +0 per year
2 targets per month: +00 per year
3 targets per month: +000 per year.
I don't think that you need to be any more aggressive than that.

jala3.png

What do $min and P%PS mean or indicate??

MO, your posts almost always make me ask questions...

$min: initial position size

P%PS: the number of pips, at 8x initial size (3 doubles), required to reach a %target; the number after accumulation is much smaller, but you want to insure that you are a day's range away from your %target even if you lose space.