FOCUS

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

Karma
rank: 50+ posts
rank: 50+ posts
Posts: 145
Joined: Sat Jun 04, 2011 11:59 am
Reputation: 0
Location: South Florida
Gender: Male

Postby Karma » Thu Aug 16, 2012 2:59 pm

As far as what I am focusing on

It's making my money work rather than just working for my money

Protecting my time spent working by investing in wealth that can't be so easily destroyed

Protecting my wealth for my children. Posterity
"Profit is found in a thinking mind. If you come to this . . . with pen and paper in hand then you will fail to find the beauty that exists within yourself." - MightyOne

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
scratty
rank: 150+ posts
rank: 150+ posts
Posts: 359
Joined: Wed Nov 11, 2009 9:42 am
Reputation: 0
Gender: Male

Postby scratty » Thu Aug 16, 2012 3:18 pm

exactely Braathen!

In my opinion the most important target and thereby Prio No1 for a trader and precondition for profit is: NOT TO LOSE :shock:

may the discussions begin!

Braathen wrote:Hey Scratty!

A little less market orientated would be (like your sig says) losing like a pro.
Give them nothing but take everything.

Space/lot managment defently gave me a better edge and has
become one of my highest priority's.

Other then that stamina , patience and a reason why :D

(im sorry if i have misunderstood your topic :D)
Lose professionally!

User avatar
scratty
rank: 150+ posts
rank: 150+ posts
Posts: 359
Joined: Wed Nov 11, 2009 9:42 am
Reputation: 0
Gender: Male

Postby scratty » Thu Aug 16, 2012 3:27 pm

NOT TO LOSE => keep the equity drawdowns as small as possible to make space for coming profits...
Lose professionally!

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Postby TygerKrane » Thu Aug 16, 2012 7:02 pm

    keep the equity drawdowns as small as possible to make space for coming profits...
Coincidence that I was thinking about this exact thing as I woke up this morning.

I remembered withnails sig (I changed the order a little):
[1]-Big Loss
[2]-Small Loss
[3]-Small Win
[4]-Big Win
--- just prevent #1


So I thought to myself:
[1]-Big Loss__ = behind my Entry Price or Average Price at greater than 2:1lev
[2]-Small Loss = behind my Entry Price or Average Price at 2:1lev
[3]-Small Win..= Take Profits at 2:1lev (i.e. taking a profit without adding-in)
[4]-Big Win___= Take Profits at greater than 2:1lev
--- just prevent #1

(I'm sure I've said something similar to myself before, but it appears I need new ways to drill these things into my head; b/c I know you don't need a 90% accuracy rate to be profitable in Forex.)

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5248
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Fri Aug 17, 2012 3:29 am

I think that TRO said it best when he said 'price is the same on all time frames'.

Trade the smallest chart you can without the feeling of being lost at sea.

Trade off of 'long term' extremes because that is the position of greatest potential be it an extreme or THE extreme.

Listen to news and opinion to get a feel for what people are thinking and doing on the chart of interest so that you can take advantage of the herd mentality:

Example: we know that everyone and God's son is long EU from 1.2200-1.2250 so short term we are looking to short into long positions and gather strength for a good long position.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
scratty
rank: 150+ posts
rank: 150+ posts
Posts: 359
Joined: Wed Nov 11, 2009 9:42 am
Reputation: 0
Gender: Male

Postby scratty » Fri Aug 17, 2012 6:41 am

i like to see my equity curve as a (long-only-bull) market. How do i trade it? => I use horizontal lines/equity-levels!
Lose professionally!

User avatar
scratty
rank: 150+ posts
rank: 150+ posts
Posts: 359
Joined: Wed Nov 11, 2009 9:42 am
Reputation: 0
Gender: Male

Postby scratty » Mon Aug 20, 2012 3:31 pm

Let's say i start with $1'000. This would be my first horizontal-equity-level.

I start with the smalles possible lot size (let's say this is 0.1 lot).

The plan is to trade in a "scaling-in" methology (adding to a wining position).

I want to win with a full position (this would be a 0.1 initial unit/a 0.1 added unit/a final 0.2 unit) and come out >$1'000 of equity. If this whole position brings me over the $1'000 level i can consider trading bigger sizes.

So the rules are the position size stays @ 0.1 lot as long as the equity is <=$1000 no mather what!
Last edited by scratty on Mon Aug 20, 2012 3:47 pm, edited 2 times in total.
Lose professionally!

User avatar
scratty
rank: 150+ posts
rank: 150+ posts
Posts: 359
Joined: Wed Nov 11, 2009 9:42 am
Reputation: 0
Gender: Male

Postby scratty » Mon Aug 20, 2012 3:45 pm

Let's say my broker offers me 50:1 leverage.

This would mean that my biggest position on EU (atm - 1.2350) with $1'000 would be 4 lots (or in a adding unit language a 1lot unit + 1lot unit + 2lot unit).

After my first full won position (0.1+0.1+0.2) that took me over 1'000 level i would start to increase the position size to 0.2/0.2/0.4. If i win my first full position with that size (and of course without falling under the 1'000$ level) i go for 0.3/0.3/0.6 ... and so on.

As soon as i fall under my 1000$ equity level i have to start from scratch (0.1 lot).

when i reach and won the position with the max unit size possible (4lots - 1/1/2 lots) for that starting horizonzal-equity-level (1000$ in this example) i can addjust the horizontal-equity-level to a new equity-level.
Lose professionally!

User avatar
scratty
rank: 150+ posts
rank: 150+ posts
Posts: 359
Joined: Wed Nov 11, 2009 9:42 am
Reputation: 0
Gender: Male

Postby scratty » Mon Aug 20, 2012 3:57 pm

The horizontal-equity-level will create a Support-Level for my "equity market" :shock:
...because if i fall under it => i cut back my size to the min. (slowing my drawdown until i go back over the level again).

After increasing the level to the next one i actually protect my "equity market" winnings :shock: and let them no air to fall (because i start with smaller sizes again to protect the level as with the starting equity). This keeps the drawdown small.

This is just one example of how you could archive the highest priority of every trader (not to lose money!).
Lose professionally!

User avatar
scratty
rank: 150+ posts
rank: 150+ posts
Posts: 359
Joined: Wed Nov 11, 2009 9:42 am
Reputation: 0
Gender: Male

Postby scratty » Mon Aug 20, 2012 4:01 pm

TRADE YOUR EQUITY AS A MARKET ITSELF!!!
... and CREATE SUPPORT LEVELS TO NOT LOSE MONEY!!! :shock:
Lose professionally!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”