Aliassmith Psychology 101 and other stuff

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cwn6161
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Postby cwn6161 » Wed Nov 03, 2010 1:53 pm

aliassmith wrote:
cwn6161 wrote:Is that because I'm only shooting for 1:1 in the phases?

How about this:

25 pips = 3%
3% = 6 lots

P1: risk 6 lots (25 pips) to make 24 lots (100 pips) (12%)
P2: risk 12 (25 pips) lots to make 48 lots (100 pips) (24%)
P3: risk 24 (25 pips) lots to make 96 lots (100 pips) (48%)

Total: 84%
Each next phase uses half the profit of the prior.


I really don't understand your last version of it.

I think this is what you mean, using your $500 account size.

P1 risking $15 to make $60 risking 25 pip to make 100 pips @ 6 minilots
P2 risking $30 to make $120 risking 25 pip to make 100 pips @ 12 minilots
P3 risking $60 to make $240 risking 25 pip to make 100 pips @ 24 minilots

Nice potential although it depends if 25 pips risk is big enough.


Yeah you got it, sorry for the confusion. I'm shooting for each phase being one trade. I have two chances per phase to move onto the next before I must start over.

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aliassmith
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Postby aliassmith » Thu Nov 04, 2010 4:00 pm

cwn6161 wrote:
aliassmith wrote:
cwn6161 wrote:Is that because I'm only shooting for 1:1 in the phases?

How about this:

25 pips = 3%
3% = 6 lots

P1: risk 6 lots (25 pips) to make 24 lots (100 pips) (12%)
P2: risk 12 (25 pips) lots to make 48 lots (100 pips) (24%)
P3: risk 24 (25 pips) lots to make 96 lots (100 pips) (48%)

Total: 84%
Each next phase uses half the profit of the prior.


I really don't understand your last version of it.

I think this is what you mean, using your $500 account size.

P1 risking $15 to make $60 risking 25 pip to make 100 pips @ 6 minilots
P2 risking $30 to make $120 risking 25 pip to make 100 pips @ 12 minilots
P3 risking $60 to make $240 risking 25 pip to make 100 pips @ 24 minilots

Nice potential although it depends if 25 pips risk is big enough.


Yeah you got it, sorry for the confusion. I'm shooting for each phase being one trade. I have two chances per phase to move onto the next before I must start over.


Thanks for interacting with my about my money management strategy.
Since I have been discussing it on the forum instead of in the vacuum of
my office, I have been able to take a better look at my numbers.

I believe I was able to put together a better process based on less risk
and working within the confines of this new 50:1 leverage.
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cwn6161
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Postby cwn6161 » Thu Nov 04, 2010 4:29 pm

Thank YOU for bringing it up! With a weekend to really dive into the idea, I went from a method that would add one zero to my account in a year to a new method that could add 3 zeros :shock:

I did have to modify my final phase for 50:1 leverage as well. Still, the return is 76% at the end of the phases - for 3% risk.

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Postby jarnapal » Thu Nov 04, 2010 4:57 pm

aliassmith wrote:
cwn6161 wrote:Is that because I'm only shooting for 1:1 in the phases?

How about this:

25 pips = 3%
3% = 6 lots

P1: risk 6 lots (25 pips) to make 24 lots (100 pips) (12%)
P2: risk 12 (25 pips) lots to make 48 lots (100 pips) (24%)
P3: risk 24 (25 pips) lots to make 96 lots (100 pips) (48%)

Total: 84%
Each next phase uses half the profit of the prior.


I really don't understand your last version of it.

I think this is what you mean, using your $500 account size.

P1 risking $15 to make $60 risking 25 pip to make 100 pips @ 6 minilots
P2 risking $30 to make $120 risking 25 pip to make 100 pips @ 12 minilots
P3 risking $60 to make $240 risking 25 pip to make 100 pips @ 24 minilots

Nice potential although it depends if 25 pips risk is big enough.


Thanks aliassmith,

If I lose 2 times in a row in P1 do I use the same P1 rules on my 3rd trade ?

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aliassmith
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Postby aliassmith » Thu Nov 04, 2010 5:12 pm

cwn6161 wrote:Thank YOU for bringing it up! With a weekend to really dive into the idea, I went from a method that would add one zero to my account in a year to a new method that could add 3 zeros :shock:

I did have to modify my final phase for 50:1 leverage as well. Still, the return is 76% at the end of the phases - for 3% risk.


Glad I can help!
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aliassmith
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Postby aliassmith » Thu Nov 04, 2010 5:17 pm

jarnapal wrote:
aliassmith wrote:
cwn6161 wrote:Is that because I'm only shooting for 1:1 in the phases?

How about this:

25 pips = 3%
3% = 6 lots

P1: risk 6 lots (25 pips) to make 24 lots (100 pips) (12%)
P2: risk 12 (25 pips) lots to make 48 lots (100 pips) (24%)
P3: risk 24 (25 pips) lots to make 96 lots (100 pips) (48%)

Total: 84%
Each next phase uses half the profit of the prior.


I really don't understand your last version of it.

I think this is what you mean, using your $500 account size.

P1 risking $15 to make $60 risking 25 pip to make 100 pips @ 6 minilots
P2 risking $30 to make $120 risking 25 pip to make 100 pips @ 12 minilots
P3 risking $60 to make $240 risking 25 pip to make 100 pips @ 24 minilots

Nice potential although it depends if 25 pips risk is big enough.


Thanks aliassmith,

If I lose 2 times in a row in P1 do I use the same P1 rules on my 3rd trade ?


At the start of P1 take your current/real account balance and calculate
the risk like you are starting from scratch each time. You lose 2,3 times
and bust out a 60%+ it is still all good. Lose to many times in P1 then you
probably should take a look at your execution.
Trade Your Way as Long as It Makes Money!

jarnapal
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Postby jarnapal » Thu Nov 04, 2010 6:31 pm

aliassmith wrote:
jarnapal wrote:
aliassmith wrote:
cwn6161 wrote:Is that because I'm only shooting for 1:1 in the phases?

How about this:

25 pips = 3%
3% = 6 lots

P1: risk 6 lots (25 pips) to make 24 lots (100 pips) (12%)
P2: risk 12 (25 pips) lots to make 48 lots (100 pips) (24%)
P3: risk 24 (25 pips) lots to make 96 lots (100 pips) (48%)

Total: 84%
Each next phase uses half the profit of the prior.


I really don't understand your last version of it.

I think this is what you mean, using your $500 account size.

P1 risking $15 to make $60 risking 25 pip to make 100 pips @ 6 minilots
P2 risking $30 to make $120 risking 25 pip to make 100 pips @ 12 minilots
P3 risking $60 to make $240 risking 25 pip to make 100 pips @ 24 minilots

Nice potential although it depends if 25 pips risk is big enough.


Thanks aliassmith,

If I lose 2 times in a row in P1 do I use the same P1 rules on my 3rd trade ?


At the start of P1 take your current/real account balance and calculate
the risk like you are starting from scratch each time. You lose 2,3 times
and bust out a 60%+ it is still all good. Lose to many times in P1 then you
probably should take a look at your execution.


That's what I wanted to know

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aliassmith
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Postby aliassmith » Sat Nov 06, 2010 2:57 pm

I heard someone say that they use H1 charts to make their trading decisions
because it is the highest time frame that is the same for everyone around the
world. That made sense to me so I use them a lot.

I like to mess around putting custom candles on the H1 for my higher time
frame guidance. It is pretty effective for my goal which is average 8+ pips
a day. :)
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trueblueTEX
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Postby trueblueTEX » Sat Nov 06, 2010 3:57 pm

Hey Alias,

I'm trying to figure out why you draw your blue lines like you do.
You draw them based on the H1 candle and they are drawn from two consecutive candles, one green, one red (black and white in your case) where the close of one is the same as the open of the adjacent candle.

Am I correct?

Then you enter on an H1 candle when it crosses the blue line (probably after a retrace)?

Am I correct?

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aliassmith
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Postby aliassmith » Sat Nov 06, 2010 4:34 pm

trueblueTEX wrote:Hey Alias,

I'm trying to figure out why you draw your blue lines like you do.
You draw them based on the H1 candle and they are drawn from two consecutive candles, one green, one red (black and white in your case) where the close of one is the same as the open of the adjacent candle.

Am I correct?

Then you enter on an H1 candle when it crosses the blue line (probably after a retrace)?

Am I correct?


I think about it as zlines and candle closes against me or it doesn't
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