Aliassmith Psychology 101 and other stuff

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withnail
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Postby withnail » Mon Dec 10, 2012 1:06 pm

1,2,3,5,8,13,21,34,55,89
If you want to start with $800 risk take out 5,8 and 13. If you want 1300 risk take out 8,13 and 21. Add zeroes to get your risk$ amount.
500 how many dollars you want to make
800 how many dollars you put at risk
1300 how many dollars you end up with at the end of the step.
I want to make my 500 by trading for 100 pips.
Lot size is 500/100=5 mini's
Pips until my risk is gone is 800/5=160

Next step is
800
1300
2100
800/100 8 minis
1300/8 =162 (using fib numbers it will always be more or less 161, 300 risk gives 150 but after that more or less 160)

1300,2100,3400 13 minis 2100/13=161.5
Just a way to avoid maths. For pairs that are a dollar a pip for a mini. I go up the sequence to take other people money and step back one when i want to bank their money as my own. The other cool thing about having your lot size at a number in the fib sequence is for adding in to a trade like the fine captain says.
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Withnail
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Postby pp2 » Tue Dec 11, 2012 2:48 pm

Captain Pugwash wrote:HI PP2 - that was indeed a great AHA moment

this is how to use the fib tool and fib numbers to step up your held profit to increase your lot size

I like it because i am crap at math - and its visual and simple


Hello Captain, thanks for the charts. I saw these before on the other thread and it was too much info on for my head and eyes. I have a jist what you're trying/did do with the fibs, the steps I'm having trouble visualizing from a glance, I suspect I need to come back a few more times to see if if clicks. Any chance of more examples?

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Postby pp2 » Tue Dec 11, 2012 3:01 pm

withnail wrote:1,2,3,5,8,13,21,34,55,89
If you want to start with $800 risk take out 5,8 and 13. If you want 1300 risk take out 8,13 and 21. Add zeroes to get your risk$ amount.
500 how many dollars you want to make
800 how many dollars you put at risk
1300 how many dollars you end up with at the end of the step.
I want to make my 500 by trading for 100 pips.
Lot size is 500/100=5 mini's
Pips until my risk is gone is 800/5=160

Next step is
800
1300
2100
800/100 8 minis
1300/8 =162 (using fib numbers it will always be more or less 161, 300 risk gives 150 but after that more or less 160)

1300,2100,3400 13 minis 2100/13=161.5
Just a way to avoid maths. For pairs that are a dollar a pip for a mini. I go up the sequence to take other people money and step back one when i want to bank their money as my own. The other cool thing about having your lot size at a number in the fib sequence is for adding in to a trade like the fine captain says.
Cheers,
Withnail


Hello Withnail, thanks for the explanation. The maths is simpler to understand here. I think I get this and it's very aggressive! Maximizing the use of the capital to the fullest right? But for some reason there's a feeling of margin requirements getting in the way, working it out now.

Also, a question, can you explain more what is the last column 'risk pips'?

Thanks!

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Postby rourkem » Tue Oct 21, 2014 4:00 pm

Sorry to bump this up guys but are there any tutorials that best explains risk pips recently? Image

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Re: Aliassmith Psychology 101 and other stuff

Postby pablo101 » Tue Sep 29, 2020 3:11 am

Necroing this pretty thread, hope this is ok, because my question MAY BE about head stuff not technical, and also not just a question to Alias, I want to see if anyone else have this issue.

I made my 100th trade yesterday, it's certainly looking rosy.

Looking at my trades, around 70% were short and 30% were long (may be because of recent HTF bias) BUT, 90% of my 70% were winners, but I only won 50% of my longs.

Also, when I took long trades, I never felt comfortable, I always second guessed myself even my setups for longs and shorts are the same. This feeling just wasn't from the last 6 months of trading but I had issues trading longs 10 years ago before I stepped away from trading.

Does anyone else have this strange phenomenon?

Do you have an inbuilt bias in a certain direction?

Does market behaviour show shorts trades are "faster", and longs are slower?

If this is a head thing, how to overcome?

Does that mean that TRO is correct, and to just choose to be a red rat or green! :lol: :lol: :lol:
WAS A YALE STUDENT. Now? Let's see!

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Re: Aliassmith Psychology 101 and other stuff

Postby aliassmith » Tue Sep 29, 2020 3:53 am

pablo101 wrote:Necroing this pretty thread, hope this is ok, because my question MAY BE about head stuff not technical, and also not just a question to Alias, I want to see if anyone else have this issue.

I made my 100th trade yesterday, it's certainly looking rosy.

Looking at my trades, around 70% were short and 30% were long (may be because of recent HTF bias) BUT, 90% of my 70% were winners, but I only won 50% of my longs.

Also, when I took long trades, I never felt comfortable, I always second guessed myself even my setups for longs and shorts are the same. This feeling just wasn't from the last 6 months of trading but I had issues trading longs 10 years ago before I stepped away from trading.

Does anyone else have this strange phenomenon?

Do you have an inbuilt bias in a certain direction?

Does market behaviour show shorts trades are "faster", and longs are slower?

If this is a head thing, how to overcome?

Does that mean that TRO is correct, and to just choose to be a red rat or green! :lol: :lol: :lol:


It can be a good practice to not get whipsawed.

As for your stats you might know more after another 100 trades.
**Maybe the market has a hidden bias during that period
**Maybe the issue is your issue with longs and you don't play them the same subconsciously
Trade Your Way as Long as It Makes Money!

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Re: Aliassmith Psychology 101 and other stuff

Postby pablo101 » Tue Sep 29, 2020 7:16 am

aliassmith wrote:
pablo101 wrote:Necroing this pretty thread, hope this is ok, because my question MAY BE about head stuff not technical, and also not just a question to Alias, I want to see if anyone else have this issue.

I made my 100th trade yesterday, it's certainly looking rosy.

Looking at my trades, around 70% were short and 30% were long (may be because of recent HTF bias) BUT, 90% of my 70% were winners, but I only won 50% of my longs.

Also, when I took long trades, I never felt comfortable, I always second guessed myself even my setups for longs and shorts are the same. This feeling just wasn't from the last 6 months of trading but I had issues trading longs 10 years ago before I stepped away from trading.

Does anyone else have this strange phenomenon?

Do you have an inbuilt bias in a certain direction?

Does market behaviour show shorts trades are "faster", and longs are slower?

If this is a head thing, how to overcome?

Does that mean that TRO is correct, and to just choose to be a red rat or green! :lol: :lol: :lol:


It can be a good practice to not get whipsawed.

As for your stats you might know more after another 100 trades.
**Maybe the market has a hidden bias during that period
**Maybe the issue is your issue with longs and you don't play them the same subconsciously


Thanks Alias,

"It can be a good practice to not get whipsawed."

Are you saying longs in recent days/months, there's a higher chance whipsaws because that's the market conditions then?
WAS A YALE STUDENT. Now? Let's see!

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Re: Aliassmith Psychology 101 and other stuff

Postby aliassmith » Tue Sep 29, 2020 3:34 pm

pablo101 wrote:
aliassmith wrote:
pablo101 wrote:Necroing this pretty thread, hope this is ok, because my question MAY BE about head stuff not technical, and also not just a question to Alias, I want to see if anyone else have this issue.

I made my 100th trade yesterday, it's certainly looking rosy.

Looking at my trades, around 70% were short and 30% were long (may be because of recent HTF bias) BUT, 90% of my 70% were winners, but I only won 50% of my longs.

Also, when I took long trades, I never felt comfortable, I always second guessed myself even my setups for longs and shorts are the same. This feeling just wasn't from the last 6 months of trading but I had issues trading longs 10 years ago before I stepped away from trading.

Does anyone else have this strange phenomenon?

Do you have an inbuilt bias in a certain direction?

Does market behaviour show shorts trades are "faster", and longs are slower?

If this is a head thing, how to overcome?

Does that mean that TRO is correct, and to just choose to be a red rat or green! :lol: :lol: :lol:


It can be a good practice to not get whipsawed.

As for your stats you might know more after another 100 trades.
**Maybe the market has a hidden bias during that period
**Maybe the issue is your issue with longs and you don't play them the same subconsciously


Thanks Alias,

"It can be a good practice to not get whipsawed."

Are you saying longs in recent days/months, there's a higher chance whipsaws because that's the market conditions then?


No, I was just saying if someone only goes long they can't get stopped out of a long trade then reverse short and get stopped again. Limits your options to do dumb things.
Trade Your Way as Long as It Makes Money!

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