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Braathen
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Postby Braathen » Fri Feb 01, 2013 8:50 pm

Ok so.. this week was great.. a bit more cautious then normal because
even though you can make 34% in a week you can lose large amounts being as foolish i have been :D

Also i would like to state the reason i could make 34% in a week is because im trading like i have 1k more then i have.. example at 1001$
im trading like i have 2000$ and i did some pretty crazy stuff on small TF's.. witch doesnt always work out too well .. hehe..

This week i was expecting the EUR/USD to go up further.
I have done 1 continuation trade and would like to share it.

Risking 2% i started with 150 pips of space.
Placing my ## at the previous weekly candle extreme and keeping my
00 behind the last pullback on the 90m (way to small TF im sure :oops: )

Long 1.3429 @ 6 lot line with 0.6 lots and going flat at CZ1 1.3557

Image


6/4 * 228 = 342 space
I then proceed to adjust my ## to the current extreme and shrink
space to 114 giving me 200% while keeping my 00 behind the last pullback.

Long 1.3550 @ 6 lot line with 1.8 lots, flat at CZ2 1.3664

Image


18/4 * 190 = 855/3 = 285 and shrink further 188 getting another 50%
Again i adjust ## to current extreme while keeping 00 behind most recent pullback.

Long 1.3611 @ 6 lot line with 2.7 lots, Flat at the back of CZ2 1.3700.

Image


Disclaimer: Hope i havnt mixed any numbers up or anything.. i am very tired and have had a good few beers...

Also i am NOT trying to teach anyone anything or give advice.. im basicly just bragging about a trade then went well and hoping MO
will tell me its all wrong and i should fix this and that.. im doing well but i have been here for about 3 years and im not rich.. so... yeah..
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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trueblueTEX
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Postby trueblueTEX » Sat Feb 02, 2013 3:01 am

WOW and looking at the last chart is the reason NOT to have a stop!! That wick stabbed right through your LIS!

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MightyOne
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Postby MightyOne » Sat Feb 02, 2013 9:41 am

How do you get 150 space risking 2%?

2% of $2,000 is $40

4 units is 8 micro (4 micro per K)

So your space is 40 / 0.8 for 50 space.

So you are risking 6%? ? ?

I am also confused when you say 'long 1.8 lots...'

If you have <$10,000 then then you are trading micro...
$10,000 - $99,000 you are trading mini
$100,000 - $999,000 you are trading standard
$1,000,000+ you are trading full lots.

If you have $7,000 then 6 units is 42 micro (6u per K)

You made 190 pips at 18 units...
your Fibo Space is 855 pips...

I assume that 855/3 means that you plan to reenter for 12 units (4/12) and 285 space?
Increasing your size by 50% --> 12/18 leaves you with 190 space.

& from there you increased your size by 50% ending at 27 units.

-Just trying to understand the numbers =)

If you had $2,000 at some point and are sitting at $1,700 then risk x% of $2,000.
If you never had $2,000 and are sitting at $1,700 then risk x% of $1,000.

More risk is just more risk, but more profit is more profit.

Your minimum lot size (Fibo Space) is always your min. lot size; if you put more money at risk then it is for more SPACE, not more profit.

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Braathen
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Postby Braathen » Sat Feb 02, 2013 12:34 pm

Ok :D

I got 150 space by risking 2% of 3000$ = 60$
0.4$ x 150 = 60$
So i was thinking if i enter at ## and price goes to my 00 i lose 2%.

When i closed my first trade i had 228 space i then did a 6/4 x 228
and came up with 342 space.
My orignal risk 60$ + my OPM of 76$
= 136$, so if 4 units now went to 00 (342pips) id lose 136$ (give or take a few pips).

I then adjusted my ## to what i wanted and dragged my 00 up behind
the pullback giving me 114 space and the ability to add 200% to a unit line.
At the 6 unit line i added 200% giving me 18 units. If 18 from the 6 unit line went to my 00 (76pips) id lose 136$.

I closed the 18 units not at a 190 pip gain but at space going from 114 to 190. 114 is what space was before i entered trade and not from the 6 unit line.
So space actually went from 76 to 190.

So doing the whole thing over again 18 units/4 units x 190 space = 855 space. My original risk was 60$ + OPM at 283$ = 343$.
So if 4 units went 855 id lose 342$.

Then since this was to much i 855/3 = 285 getting x3 on a unit line and then (lol) shrunk in a lttle more giving an additional 50% making it 189? space.
So at the 6 unit line it was 6x3 = 18 + 50% = 27 units.
Then if 27 units from the 6 unit line went 127 pips to my 00
i would lose 342$ (give or take)

Man... i hope that wasnt a load of bollox lol :D Im seriously bad with numbers but i am working on it everyday.

The whole standard micro mini units thing.. i never really bothered to
know.. i always just risked a % of my account :D I will change this.

But i can see how u maybe got confused by me using the term lots and not units?

If this did not answer your questions please tell me so i can try again.

Have a great weekend everyone!
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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Braathen
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Postby Braathen » Sat Feb 02, 2013 3:47 pm

4/18 x 855 = 190
The 6 lot line being 50% that makes it 27 unit at that line
leaving 127 space (roughly).

One before that would be

4/12 x 342 = 114
6 lot line is 50% so 18 unit line leaving 76 space.
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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Postby MightyOne » Sat Feb 02, 2013 7:39 pm

With a $3,000 account, 4 units is 12 micro:

##: 12 micro
05: 15
06: 18
08: 24
12: 36
16: 48 micro

Since you were trading a size that is 3x smaller, your ending lot size of 27 is worth 9 units.

You get 25 space for roughly 1% risk

With $3,000 and 2% risk you get 50 pips.
The smallest initial size is 3 units (9 lots) so your largest space at 2% risk
is (12/9) * 50 or 66.6 pips/

3 units = 33.3 space per 1% risk.

Strategies to gain Space:

Breakout:
You could trade 3 to 5 units on a small period with a tight stop in an attempt to add to your Fibo Space.

RET:
You might wait for 6 to 12 unit retrace on a small chart:
Any gained space is greatly inflated when you revert back to Fibo Space (your min. unit size).

RET & BET or Kamikaze:
Same as RET only this time you increase your size as price touches ## (yes, your position drops lower).

Range Trading:
Capture the range between ## and 12 ---> with 00 opposite to the probable breakout =)
Adjust ## so that it is slightly inside of the range.
Increase your size on the RETs and liquidate at ##.

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Braathen
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Postby Braathen » Sat Feb 02, 2013 8:24 pm

MightyOne wrote:With a $3,000 account, 4 units is 12 micro:

##: 12 micro
05: 15
06: 18
08: 24
12: 36
16: 48 micro

Since you were trading a size that is 3x smaller, your ending lot size of 27 is worth 9 units.

You get 25 space for roughly 1% risk

.


I understand this.. but in my head ( :oops: ) i was trading lot size for
space (comfort) so instead of 3x lot size i was doing 3x space..
if that makes sence :D

MightyOne wrote:
With $3,000 and 2% risk you get 50 pips.
The smallest initial size is 3 units (9 lots) so your largest space at 2% risk
is (12/9) * 50 or 66.6 pips/

3 units = 33.3 space per 1% risk.



I totaly get this too :D i can size down a bit for more comfort this way.

MightyOne wrote:Strategies to gain Space:

Breakout:
You could trade 3 to 5 units on a small period with a tight stop in an attempt to add to your Fibo Space.

RET:
You might wait for 6 to 12 unit retrace on a small chart:
Any gained space is greatly inflated when you revert back to Fibo Space (your min. unit size).

RET & BET or Kamikaze:
Same as RET only this time you increase your size as price touches ## (yes, your position drops lower).

Range Trading:
Capture the range between ## and 12 ---> with 00 opposite to the probable breakout =)
Adjust ## so that it is slightly inside of the range.
Increase your size on the RETs and liquidate at ##.


These are very close to what i have been thinking except for the range one .. i get the range one but i just dont seem to wanna do it :D
I will change this.

The Ret strat and the RET & BET Kamikaze strat are my favourites.

Thank you very much for your time!
I will be pushing on strong.. 2013 baby! Its the year!
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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Braathen
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Postby Braathen » Sun Feb 03, 2013 1:23 am

trueblueTEX wrote:WOW and looking at the last chart is the reason NOT to have a stop!! That wick stabbed right through your LIS!


Hi trueblueTEX :D Yeah i used a stop one time i think.. got stopped out and thought.. nowai :P MO once said the wick is the illusion i think it was.
(proberbly a few more times then one.. but you get the idea :P)

I also remember reading something like "Children of the stop loss,
oh how i hear there screams" -Phantom Of the Pits

Btw.. a BB is a Biollinger Band.. its a indicator.
But just like stop losses.. i dont use indicators so i dunt know more
that :D
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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trueblueTEX
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Postby trueblueTEX » Sun Feb 03, 2013 4:25 am

Braathen wrote:... "Children of the stop loss, oh how i hear there screams" -Phantom Of the Pits

Btw.. a BB is a Biollinger Band.. its a indicator.
But just like stop losses.. i dont use indicators so i dunt know more
that :D


I like that quote!.

Bollinger Bands, duh! I've seen his charts. I should have known that's what the bb reference was.

Thanks for your post above with the charts. I'm glad you posted it and that MO responded. Hopefully, the math example will prove valuable.

Thanks!

nimo350
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Postby nimo350 » Mon Feb 04, 2013 10:00 am

nt
Last edited by nimo350 on Thu Feb 06, 2014 12:25 pm, edited 1 time in total.

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