Aliassmith Beats a "Dead Horse"

[aliassmith]

EURAUD M5
A Z-line short.
It was against the 20 SMA so not a DEADhorse.
It was more about structure.

4x move on Forex

Question for ya. When your day trading/scalping are you worried about your stop being beyond an extreme. Or are you more looking for momentum to hit your target before it moves towards your stop. And one more. If it did hit your stop, would you be willing to re enter if you still felt the trade was valid and due to the high R reward.

I'm looking for a "safe" spot to put it. At candle extreme or turn extreme. Recently I've been more aware of size of SL so I can maximize lot size.

Sometimes I do re-enter but usually better to walk away.

[dojirock]

EURAUD M5
A Z-line short.
It was against the 20 SMA so not a DEADhorse.
It was more about structure.

4x move on Forex

Question for ya. When your day trading/scalping are you worried about your stop being beyond an extreme. Or are you more looking for momentum to hit your target before it moves towards your stop. And one more. If it did hit your stop, would you be willing to re enter if you still felt the trade was valid and due to the high R reward.

For me and from observations over the years of how I interpret Aliassmith's trading style, while he is scalping, if you move your stop loss beyond the extreme, your just increasing your risk and dissolving your R:R. When your right your right, when your wrong your wrong. For myself, I never trade the extreme candle, if I ever did, it would only be a guess and I wouldn't be able to justify the trade. While scalping tick charts, minute charts, or even second charts, yes they may fall within the 30 min, hourly, 4 hour extreme etc. but never on my entry chart.
Just my 2 cents.

[dojirock]

Going back to my cave....

[aliassmith]

EURAUD M5
A Z-line short.
It was against the 20 SMA so not a DEADhorse.
It was more about structure.

4x move on Forex

Question for ya. When your day trading/scalping are you worried about your stop being beyond an extreme. Or are you more looking for momentum to hit your target before it moves towards your stop. And one more. If it did hit your stop, would you be willing to re enter if you still felt the trade was valid and due to the high R reward.

For me and from observations over the years of how I interpret Aliassmith's trading style, while he is scalping, if you move your stop loss beyond the extreme, your just increasing your risk and dissolving your R:R. When your right your right, when your wrong your wrong. For myself, I never trade the extreme candle, if I ever did, it would only be a guess and I wouldn't be able to justify the trade. While scalping tick charts, minute charts, or even second charts, yes they may fall within the 30 min, hourly, 4 hour extreme etc. but never on my entry chart.
Just my 2 cents.

Hey man 2 cents isn't going to get you far with this inflation. I expect you to get back here and give a full 5 cents.

To your points.
Very true. Good thing my accuracy is high.
That is why I am looking at SL reduction
Even by cutting1 pip from every SL overall it is a big difference.
Need to continually collect data and make subtle change.

Similar to being able to take just 1 more pip on avg. per trade.
I am actually moving away from sub 1R and get to at least 1.5R. I mean that more from an average. It shows in my overall profitability.

I am always studing to see what I can improve and train my psychology to execute. Not always easy.

Mathematically think about reducing your SL by 10% and increasing your TP by 10%. Then increase your lot size by enough that you risk the same amount of money as before. Of course this takes better entries and exits.

When you are wrong you lose the same. When you are right you make 20% more gains.

[Don_xyZ]

Question for ya. When your day trading/scalping are you worried about your stop being beyond an extreme. Or are you more looking for momentum to hit your target before it moves towards your stop. And one more. If it did hit your stop, would you be willing to re enter if you still felt the trade was valid and due to the high R reward.

For me and from observations over the years of how I interpret Aliassmith's trading style, while he is scalping, if you move your stop loss beyond the extreme, your just increasing your risk and dissolving your R:R. When your right your right, when your wrong your wrong. For myself, I never trade the extreme candle, if I ever did, it would only be a guess and I wouldn't be able to justify the trade. While scalping tick charts, minute charts, or even second charts, yes they may fall within the 30 min, hourly, 4 hour extreme etc. but never on my entry chart.
Just my 2 cents.

Hey man 2 cents isn't going to get you far with this inflation. I expect you to get back here and give a full 5 cents.

To your points.
Very true. Good thing my accuracy is high.
That is why I am looking at SL reduction
Even by cutting1 pip from every SL overall it is a big difference.
Need to continually collect data and make subtle change.

Similar to being able to take just 1 more pip on avg. per trade.
I am actually moving away from sub 1R and get to at least 1.5R. I mean that more from an average. It shows in my overall profitability.

I am always studing to see what I can improve and train my psychology to execute. Not always easy.

Mathematically think about reducing your SL by 10% and increasing your TP by 10%. Then increase your lot size by enough that you risk the same amount of money as before. Of course this takes better entries and exits.

When you are wrong you lose the same. When you are right you make 20% more gains.

Yes, the whole post.

But the marked one is the same wave length.

[Mr. Hyde]

For me and from observations over the years of how I interpret Aliassmith's trading style, while he is scalping, if you move your stop loss beyond the extreme, your just increasing your risk and dissolving your R:R. When your right your right, when your wrong your wrong. For myself, I never trade the extreme candle, if I ever did, it would only be a guess and I wouldn't be able to justify the trade. While scalping tick charts, minute charts, or even second charts, yes they may fall within the 30 min, hourly, 4 hour extreme etc. but never on my entry chart.
Just my 2 cents.

Hey man 2 cents isn't going to get you far with this inflation. I expect you to get back here and give a full 5 cents.

To your points.
Very true. Good thing my accuracy is high.
That is why I am looking at SL reduction
Even by cutting1 pip from every SL overall it is a big difference.
Need to continually collect data and make subtle change.

Similar to being able to take just 1 more pip on avg. per trade.
I am actually moving away from sub 1R and get to at least 1.5R. I mean that more from an average. It shows in my overall profitability.

I am always studing to see what I can improve and train my psychology to execute. Not always easy.

Mathematically think about reducing your SL by 10% and increasing your TP by 10%. Then increase your lot size by enough that you risk the same amount of money as before. Of course this takes better entries and exits.

When you are wrong you lose the same. When you are right you make 20% more gains.

Yes, the whole post.

But the marked one is the same wave length.

Thanks guys. Yeah when i started this whole scalping journey i was using a 10 pip stop and 10 pip TP. But have seen the benefit of going just to a 8 pip stop and 12 pip target changes the gain dramtically. The problem is making sure that i dont start trying to hold things for to long looking for those huge R type of trades. Apprecaite it guys

[Mr. Hyde]

EURAUD M5
A Z-line short.
It was against the 20 SMA so not a DEADhorse.
It was more about structure.

4x move on Forex

Question for ya. When your day trading/scalping are you worried about your stop being beyond an extreme. Or are you more looking for momentum to hit your target before it moves towards your stop. And one more. If it did hit your stop, would you be willing to re enter if you still felt the trade was valid and due to the high R reward.

I'm looking for a "safe" spot to put it. At candle extreme or turn extreme. Recently I've been more aware of size of SL so I can maximize lot size.

Sometimes I do re-enter but usually better to walk away.

Thanks. I do really well scalping when im winning. But after taking a few losses and knowing that i dont have a big R type trade to cover all the losses i notice i start to stray from my trading plan. Its def something that i need to work on. I need to keep in mind, its not how i just do that day, but overall for the week and month. I think once i get more expiernce and time with and grow my confidence it will work itself out. Normally i back test to help build that confidence right off the back, but with this scalping its less method and more feel. Which is very foreign to me.

[aliassmith]

Question for ya. When your day trading/scalping are you worried about your stop being beyond an extreme. Or are you more looking for momentum to hit your target before it moves towards your stop. And one more. If it did hit your stop, would you be willing to re enter if you still felt the trade was valid and due to the high R reward.

I'm looking for a "safe" spot to put it. At candle extreme or turn extreme. Recently I've been more aware of size of SL so I can maximize lot size.

Sometimes I do re-enter but usually better to walk away.

Thanks. I do really well scalping when im winning. But after taking a few losses and knowing that i dont have a big R type trade to cover all the losses i notice i start to stray from my trading plan. Its def something that i need to work on. I need to keep in mind, its not how i just do that day, but overall for the week and month. I think once i get more expiernce and time with and grow my confidence it will work itself out. Normally i back test to help build that confidence right off the back, but with this scalping its less method and more feel. Which is very foreign to me.

There is a bit of method to it but you are right there is feel.

[dojirock]

Question for ya. When your day trading/scalping are you worried about your stop being beyond an extreme. Or are you more looking for momentum to hit your target before it moves towards your stop. And one more. If it did hit your stop, would you be willing to re enter if you still felt the trade was valid and due to the high R reward.

For me and from observations over the years of how I interpret Aliassmith's trading style, while he is scalping, if you move your stop loss beyond the extreme, your just increasing your risk and dissolving your R:R. When your right your right, when your wrong your wrong. For myself, I never trade the extreme candle, if I ever did, it would only be a guess and I wouldn't be able to justify the trade. While scalping tick charts, minute charts, or even second charts, yes they may fall within the 30 min, hourly, 4 hour extreme etc. but never on my entry chart.
Just my 2 cents.

Hey man 2 cents isn't going to get you far with this inflation. I expect you to get back here and give a full 5 cents.

To your points.
Very true. Good thing my accuracy is high.
That is why I am looking at SL reduction
Even by cutting1 pip from every SL overall it is a big difference.
Need to continually collect data and make subtle change.

Similar to being able to take just 1 more pip on avg. per trade.
I am actually moving away from sub 1R and get to at least 1.5R. I mean that more from an average. It shows in my overall profitability.

I am always studing to see what I can improve and train my psychology to execute. Not always easy.

Mathematically think about reducing your SL by 10% and increasing your TP by 10%. Then increase your lot size by enough that you risk the same amount of money as before. Of course this takes better entries and exits.

When you are wrong you lose the same. When you are right you make 20% more gains.

.03 more cents,
One challenge for me, that I have been tackling over the past year, is trying to equalize my focus on my trade (success rate) vs my (Risk vs Reward) vs my (profit ratio (max win $ vs max loss$).

In March, my success rate was 88.9%, Risking 1% to make 1.25%, and a profit ratio of 1.3. 15 days traded, averaging 9 trades per day, profit of $8,300
Any of you guys that know me, I have always been laser focused on my success rate.

In April, I really challenged my self for the 30 days, to increase my focus on my R&R only and be willing to sacrifice some of my success rate. I really had doubts of what the out come would be, its just the way I am wired.

April, I concentrated on sticking to the 30 day plan. Even traded some assets that I haven't traded in years (forex, and gold) I am a big fan of the indices. April's results: Traded 13 days, down 2 days from March. I was ok with that. Averaged 6.5 positions per day, Ok so far so good. Four days into the month, my success rate was 87.2% (was I really willing to let this go?) I started defining my stop loss realizing by taking a few more hits on my success rate that I could tighten up the stop loss. My targets are targets at this point, not changing anything in the plan yet there. I ended the month with a success rate of 80% (initially this really bothered me. To me its like breaking the holy grail of my historical trading plan). My risk reward increased from 1:1.25 to 1:1.86 and my profit ratio went from a 1.3 to a 2.85 (over double!, which really for the 1st time got me to really take notice) Profit of $11,870.

I'm still letting this soak in a bit. Sacrificing some of my successful trade percentage to trade less, lose less (kind of an oxymoron losing more trades), yet grossing more profit. Mind blown.....

I am have been very resistant to making changes to my trading plan for about 6 years now. Why change what isn't broke? I guess I am realizing my trading plan isn't broke, but is sure may have some hair line cracks that I can fix.

-doji

[Mthomas0807]

I like this tread!
Thanks very much$$$