TygerKrane's Pip-Pickpocketing

[TygerKrane]

My ideal plan for the week is to build up a Max Lev Short position on NU, going into NFP on Friday...
I would LOVE to see it PB Long to @0.7632 sometime before Friday tho...

NU



In order to 'gather up'/'scalp up' some SPACE for this position, I have a Long Bias on both AJ & ECad:

AJ



ECad



On a side note, I'm looking for EU to go Long up to 1.1000 this week as well...

EU

[TygerKrane]

I have had a great four weeks, and so this is what I've been up to lately.

After I have made some profit for the week (aiming for 5% or more), I pay myself to STOP trading for the rest of the week. I will start off the week taking various small TP's, but my last trade of the week so far has always been after I caught a good part of a trending move, the point that I decide to exit out of that.
MightyOne suggested to me a long time ago to match my profits with outside money until I can no longer afford to do so. (Something like that, there was a bit more context to the statement, I'm sure.) Anyways, I have actually been adding DOUBLE the profits I make in a week.
So yeah, I have been paying myself to STOP trading after I have made a profit; I have been paying myself to not be overly greedy & trade-hungry, is another way that I look at it as well.

This has helped me in several ways:
-I can take the rest of the week off to study past screenshots, or even continue to follow the current PA without feeling bad about not catching more pips out of a move, since I have already paid myself a BUNCH of extra pips.
-I am forced to calm down and not think that I am on some kind of 'hot streak' and therefore need to get in on every valid setup for the rest of the week.
-This outside money is money that I ACTUALLY REALLY want to get back out, so I am not as reckless when I start off trading the next week, after having a profitable previous week. (The outside money is not for taking the risk of finding a trade, it is for once I have room to add into a move and still remain protected during a PB. --I am also using the profit from other trades to cushion the use of this 'outside money'.)

As is standard, following STRICTLY not to lose more than 5% in a week. *Also* what helps me in this is that when I am calculating my entry leverages for the week, my calculations are done off of 75% of my account value. (I don't remember if my 5% weekly loss is calculated off of my real account value, or my 75% account value.)



This is because I am not TOTALLY confident in my entry skills, and for just in case I get stubborn with my analysis and start taking too many entries, I don't hurt my account nearly as much as I could have. When I feel confident in my entry abilities and that I will not OVERTRADE at a particular entry area if I am not getting it right, I will GLADLY make my entries based on my real account value.
Also, when I have OPM I am more willing to enter a trade closer to the REAL Entry leverage value.
However, the fact that I have been making pretty decent returns starting the week with 75% account values is VERY interesting to me. ESPECIALLY SINCE for the last four weeks, I have reached % goals by Wednesday night!! (Actually, last week, I reached % goals by Tuesday night, but decided to push a trade further rather than close it out. It worked out great since a 7% weekly gain turned into a 15% weekly gain overnight.)

Speaking of which, having the outside money is great b/c of the accelerated gains to my 'actual trading money'.
For example, if my trading money is $1000 and I make 5% in a week, my trading money account has gone up 5% (duh!).
If, however, I added $1000 of outside money to my trading money, my account is now $2000. If I earn the same 5% in a week, and then give back the $1000 of outside money, my trading money account has actually gone up 10% instead!

That being said, my 'trading money' has gone up 171.44% since March 22.
(Weekly gain profits are always calculated based on the full account value --'trading money' + 'outside money'--.)

[TygerKrane]

Quick overnight update (not that it will have any real significance on how my week will turn out; and not that I am planning on constantly updating my trade statuses throughout the week .)

NU
Limit Sell Entry at 0.7632 got hit. I still have another Limit Sell Entry higher that I made last night as well, but ultimately the plan is for NU not to go as high as that green box.




AJ
One Limit Buy Entry got hit, the other Limit Buy Entry missed by 1 pip.




ECad
I set two Limit Buy Entries last night, one got hit.

[TygerKrane]

So!
It looks like FXCM has tweaked their margin requirements again since I last noted it on Feb 1 [ https://www.kreslik.com/forums/post79467#p79467 ] Luckily, this time, my Max Lev has been RAISED on several pairs, so my options are looking even sweeter . SURE, I HAD TO GO THROUGH and revise my spreadsheet, but for these updates, it was well worth it!! As a matter of fact, for whatever reason, I usually try to avoid trading EU, but now that my Max Lev on it is greater than 40:1, I think I will have to get on the bandwagon . 

Here is the breakdown of the changes:
(Blue= remained the same)
(Red= went down)
(Green= went up)




On a side note, ZarJpy (ZJ) has a Max Lev of 160:1 !!!
EG has a Max Lev of 62.5:1 ... I'm keeping it in the back of my mind.

[TygerKrane]

First off, I had NO IDEA that NFP wasn't Fri, May 1st. I didn't find out until noon on Friday . 830A came around and I thought to myself, "Damn, this stupid NFP thing just TOTALLY fizzled out, nothing happened!"
So, I finally went to an economic calendar to confirm when things are gonna happen. I must admit, seeing all the 'high level' events that I have not thought about for MONTHS was a truly weird feeling for me. I used to try and plan soo much around when they were gonna happen, so that I would make sure to be doing 'x' instead of 'y' at that time...Anyways, I prefer not having the calendar a part of my trading routine, and I hope I won't have problems trading NZD or AUD pairs this week, as I saw several 'high level' events for them this week. (Actually, NY EST time, Monday night/Tuesday AM at 1230A there is an AUD bank interest rate decision coming up this week.)

This past week was seriously almost a tragedy, but then some really AMAZING things happened, but going forward, I will make sure to keep things in check and calm down on my decisions.

Here is the reason for my loss of self-control this week though:
Basically, I have been very patient up to this point, building up my account and 'paying myself not to trade'. Finally, I am at the point where SEVERAL of my pairs, can now trade at $10/pip, which is a VERY BIG F-ING deal for me to have at my disposal. Naturally, I'm thinking $10/pip and a hundred pip run, and I've made $1000 within one week (more likely over the course of 2-3 days tho). So I just couldn't keep calm anymore and got sloppy and desperate and stubborn (i.e. not closing trades that were clearly going against me) in trying to build up a $10/pip position on the chart. ((I know, I know, MightyOne has a method for that .)) BUT yes, I wanted to get a $10/pip or more Short position on the NU going into what I *thought* was Friday's NFP.

--I am STILL gonna try to make a Short position on NU going into this Friday's NFP--

Anywayz, here is how the madness played out:

Here are the stats:
Weekly gain (starting the math from my acct balance at the start of the week): 18.66%

At my low point for the week, I was down -27.15% (mind you, as a professional trader, my weekly losses should NEVER be more than 5%, 6% tops!; so I was REALLY in a f##ked up situation.)




From my WEEKLY LOW, to my ending balance: 62.89%
(62.89% Accomplished over 2 days!!)
(So over the course of TWO days <Wed-Fri>, most of that gain was actually made Thurs- Fri through crazy scalping at hi- lev) More dramatic for me, however, was that during a 24-36 hour period,

I earned more money than my 2 week paycheck BEFORE THE TAXES AND HEALTH INSURANCE FEES etc. ARE TAKEN OUT!!

-I have also added outside money to my account again- (less than double my weekly profit this time though)

[dchappy]

Excellent work . If you can get an account over 10k good things begin to happen .Not sure why , must be a physcho thing ....

[Captain Pugwash]

really nice work Tyger

as your chart above shows that 5 - 6% max loss is the sweet spot- your gonna get losses - just keep em at that - or Less

well done!

[aliassmith]

First off, I had NO IDEA that NFP wasn't Fri, May 1st. I didn't find out until noon on Friday . 830A came around and I thought to myself, "Damn, this stupid NFP thing just TOTALLY fizzled out, nothing happened!"
So, I finally went to an economic calendar to confirm when things are gonna happen. I must admit, seeing all the 'high level' events that I have not thought about for MONTHS was a truly weird feeling for me. I used to try and plan soo much around when they were gonna happen, so that I would make sure to be doing 'x' instead of 'y' at that time...Anyways, I prefer not having the calendar a part of my trading routine, and I hope I won't have problems trading NZD or AUD pairs this week, as I saw several 'high level' events for them this week. (Actually, NY EST time, Monday night/Tuesday AM at 1230A there is an AUD bank interest rate decision coming up this week.)

This past week was seriously almost a tragedy, but then some really AMAZING things happened, but going forward, I will make sure to keep things in check and calm down on my decisions.

Here is the reason for my loss of self-control this week though:
Basically, I have been very patient up to this point, building up my account and 'paying myself not to trade'. Finally, I am at the point where SEVERAL of my pairs, can now trade at $10/pip, which is a VERY BIG F-ING deal for me to have at my disposal. Naturally, I'm thinking $10/pip and a hundred pip run, and I've made $1000 within one week (more likely over the course of 2-3 days tho). So I just couldn't keep calm anymore and got sloppy and desperate and stubborn (i.e. not closing trades that were clearly going against me) in trying to build up a $10/pip position on the chart. ((I know, I know, MightyOne has a method for that .)) BUT yes, I wanted to get a $10/pip or more Short position on the NU going into what I *thought* was Friday's NFP.

--I am STILL gonna try to make a Short position on NU going into this Friday's NFP--

Anywayz, here is how the madness played out:

Here are the stats:
Weekly gain (starting the math from my acct balance at the start of the week): 18.66%

At my low point for the week, I was down -27.15% (mind you, as a professional trader, my weekly losses should NEVER be more than 5%, 6% tops!; so I was REALLY in a f##ked up situation.)




From my WEEKLY LOW, to my ending balance: 62.89%
(62.89% Accomplished over 2 days!!)
(So over the course of TWO days <Wed-Fri>, most of that gain was actually made Thurs- Fri through crazy scalping at hi- lev) More dramatic for me, however, was that during a 24-36 hour period,

I earned more money than my 2 week paycheck BEFORE THE TAXES AND HEALTH INSURANCE FEES etc. ARE TAKEN OUT!!

-I have also added outside money to my account again- (less than double my weekly profit this time though)

I have some crazy swings these days also. I removed
60% of my account from my broker and trade higher
leverage. Removing the money protects me from market black swans and from myself.

I remember MO telling someone its better to trade $500 aggressively than $5000 cautiously.

[seedling]

If one is high leverage and a black swan paddles along isn't one screwed either way... Or do you mean if Alpari type incident occurs..

Leverage the double edged sword.

btw, keep on the up Tyger, you have perservered, rekon people think you may deserve the gains you are achieving now.

DON'T BLOW UP!!!



All the best

[Captain Pugwash]

If one is high leverage and a black swan paddles along isn't one screwed either way... Or do you mean if Alpari type incident occurs..

Hi seedling

I think Alias means that if 60% of your account is held in cash (away from your broker) that cash is safe.

A black swan can indeed take the 40% - but not the 60%

just trade the 40% as tho it were 40 + 60 + 100% (i.e. _ more aggressively)

I believe Dragon33 does this every month!


sorry if I misunderstood mate