Aliassmith Beats a "Dead Horse"

[IgazI]

I didn't know there a new currency Australian Double Dollar

Trading with no SL is good but it's only because you know you can still continue with the "money-in-the-broker's-wallet-account" that resides outside of the trading account even if you get MC. But as we all know, this though, is unacceptable with the uncles and it's problematic for pro. He must face his own demon before he can manage uncle's money. SL management is his road block and if he can't overcome it then he must focus only on his own live fund. Then again, he himself said it "it's easy to grow $100 into $1M" so I'm not worried. We all saw him turn $2k into $42k and that's good. I think he knows that we're all rooting for him.

For uncles, you either go with tight SL and aim for monstrous R or use bigger SL and target high win rate with 1R or 1.5R. If you use tight SL but the R is small then it's disastrous. If you have big SL but your win rate sucks it's also the same thing. The uncles are pure capitalists, they only want to see profit growth.

Then someone tell them that risk is controlled by the size of the order not by limiting the swings of the chart:

if you have a 1/4 sized position and there is a price swing of 20 pips then you've lost 5 pips, as it relates to your true size.

if you use a full-size trade and a 5 pip stop then you might lose 5 pips multiple times, but with the 1/4 sized position you can operate within the risk tolerance of the trade ($$$) and collapse the space later as you move towards a size of 1.

If you get out at -8 then you've taken a 2 pip loss; how easy is it to use a 8 pip stop and manually exit with a 2 pip loss?

What about a 1/4 sized position and a 5 pip stop? well that's one way to get to -20 real quick

Then there is the issue of the type of analysis that you are using not even being compatible with a stop loss:

We don't even see wicks, so why are we using stops!? even with the PA on the left, we are going to try to exit on a limit and then just close the trade
when it feels like a losing battle.

When we reach a size of 1 then we can start to worry about restricting space.

It is only because we are controlling risk with position sizing that we can afford to wait.

trading_no_wicks.png (43.37 KiB) Viewed 1066 times

[prochargedmopar]

That's 2 HOURS before release on a 15m chart!!!
SAME thing happens on ALL timeframes.

What are you waiting for? hahahaha

FullSizeRender-compressed.jpeg (37.55 KiB) Viewed 1063 times

FullSizeRender(1)-compressed.jpeg (34.38 KiB) Viewed 1063 times

[prochargedmopar]

Oh Sheet, Wrong thread. IM DRIVING. lol

[IgazI]

Oh Sheet, Wrong thread. IM DRIVING. lol

Alias going to kick your azzzz

[kiwiarian]

I didn't know there a new currency Australian Double Dollar

Trading with no SL is good but it's only because you know you can still continue with the "money-in-the-broker's-wallet-account" that resides outside of the trading account even if you get MC. But as we all know, this though, is unacceptable with the uncles and it's problematic for pro. He must face his own demon before he can manage uncle's money. SL management is his road block and if he can't overcome it then he must focus only on his own live fund. Then again, he himself said it "it's easy to grow $100 into $1M" so I'm not worried. We all saw him turn $2k into $42k and that's good. I think he knows that we're all rooting for him.

For uncles, you either go with tight SL and aim for monstrous R or use bigger SL and target high win rate with 1R or 1.5R. If you use tight SL but the R is small then it's disastrous. If you have big SL but your win rate sucks it's also the same thing. The uncles are pure capitalists, they only want to see profit growth.

Then someone tell them that risk is controlled by the size of the order not by limiting the swings of the chart:

if you have a 1/4 sized position and there is a price swing of 20 pips then you've lost 5 pips, as it relates to your true size.

if you use a full-size trade and a 5 pip stop then you might lose 5 pips multiple times, but with the 1/4 sized position you can operate within the risk tolerance of the trade ($$$) and collapse the space later as you move towards a size of 1.

If you get out at -8 then you've taken a 2 pip loss; how easy is it to use a 8 pip stop and manually exit with a 2 pip loss?

What about a 1/4 sized position and a 5 pip stop? well that's one way to get to -20 real quick

Then there is the issue of the type of analysis that you are using not even being compatible with a stop loss:

We don't even see wicks, so why are we using stops!? even with the PA on the left, we are going to try to exit on a limit and then just close the trade
when it feels like a losing battle.

When we reach a size of 1 then we can start to worry about restricting space.

It is only because we are controlling risk with position sizing that we can afford to wait.
trading_no_wicks.png

so when would me make the 1/4 a 1/3 and is the exit of the 1/3 the same location as the 1/4 since we don adjust space until we hit 1 full position?

[IgazI]

so when would we make the 1/4 a 1/3 and is the exit of the 1/3 the same location as the 1/4 since we don adjust space until we hit 1 full position?

If your entry strategy is 1 + 1 + 2, then 1 = 1/4 and a size of 2 = 1/2:
that means than any gain or loss will also be 1/4 or 1/2.

You initiate your exit strategy at a time when it is clear that you need to exit, not before.

If you use a stop loss then you give up control to the market.

If you don't use a stop then you take on more price risk but you retain control over when to exit.

In trading, you generally get what you ask for:
- place a stop at -6, you are going to get -6.
- place a stop at BE + 2, you are going to get 2 pips.
- price moves to -6 and you place a sell limit at -2, you are going to get -2.

Is that your experience? I don't know.

Given all of the ways in which the chart could play out, is it better to use stops or limits? I'll let you decide.

[kiwiarian]

so when would we make the 1/4 a 1/3 and is the exit of the 1/3 the same location as the 1/4 since we don adjust space until we hit 1 full position?

If your entry strategy is 1 + 1 + 2, then 1 = 1/4 and a size of 2 = 1/2:
that means than any gain or loss will also be 1/4 or 1/2.

You initiate your exit strategy at a time when it is clear that you need to exit, not before.

If you use a stop loss then you give up control to the market.

If you don't use a stop then you take on more price risk but you retain control over when to exit.

In trading, you generally get what you ask for:
- place a stop at -6, you are going to get -6.
- place a stop at BE + 2, you are going to get 2 pips.
- price moves to -6 and you place a sell limit at -2, you are going to get -2.

Is that your experience? I don't know.

Given all of the ways in which the chart could play out, is it better to use stops or limits? I'll let you decide.

I've only used market orders, stops and a few pending orders where I wanted to enter. Lack of experience/ignorance I have not used limit orders to get out of a trade, did not know that worked like that (in MT4).

ON this small account with some shorts, I have a 1/4 of a position at a 20 SL (or exit order?) , are you saying:
at 1 -> I should be adding another 1/4 position, position = 1/2. SL same as first position.
at 2 -> position size should be 1 (added half here). SL same as first position.
at 3 -> position size is 1.25 , normalise risk by moving stop up to keep risk of 1 only?
at 4 -> position size is 1.5, normalise risk by moving stop up to keep risk of 1 only?

quarter.jpg (146.18 KiB) Viewed 909 times

[IgazI]

I've only used market orders, stops and a few pending orders where I wanted to enter. Lack of experience/ignorance I have not used limit orders to get out of a trade, did not know that worked like that (in MT4).

ON this small account with some shorts, I have a 1/4 of a position at a 20 SL (or exit order?) , are you saying:
at 1 -> I should be adding another 1/4 position, position = 1/2. SL same as first position.
at 2 -> position size should be 1 (added half here). SL same as first position.
at 3 -> position size is 1.25 , normalise risk by moving stop up to keep risk of 1 only?
at 4 -> position size is 1.5, normalise risk by moving stop up to keep risk of 1 only?quarter.jpg

What you should do, only you know

You are probably better off entering once per move and then increasing your size after trades:
You started with $100 to risk, you made a trade, now what do you have left? and what will remain if you lose your next trade?

At or above 50% size you want to risk only the profits you have made, that's all you really need to know. . .

if you lose $100 then you just start over.

[prochargedmopar]

###misc4.jpg (44.52 KiB) Viewed 871 times

[aliassmith]

Some people just want to make a modest living from trading. How about $93k a year before taxes?

1 APEX account you will trade 1 micro contact and average 10 points per day. That is $20 a day x 20 APEX accounts.

Trading 2 micro contacts is double the fun.

You don't need 100s of points a day to make decent money.