lukx zline trading log + cfabian p.35 + adaseb p.48

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aliassmith
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Postby aliassmith » Sat May 29, 2010 3:31 pm

Manta wrote:
aliassmith wrote:
Manta wrote:
adaseb wrote:
Manta wrote:
cfabian wrote:Manta, not sure if I understand correctly your entries, bur from what I understand, you entry right at the lines, what put you in a severe draw down, at aprox -40 for the first 2 and -20 for the 3rd.

Did I get your entries correctly? How do you handle such DD or what is your SL on each case?

Image


Manta wrote:
prochargedmopar wrote:
Manta wrote:"six pack" ZL trading


Very nice trading manta,

You got BALLS!!

I will dream about that pic tonight.


Hahaha, thanks.
Don't dream about, just do it and enjoy. All you need are two magic momos.

And imagine this is only one pair (I trade 4) and 1 day (I trade 5) :twisted:

EDIT: not magic momos, but mighty momos 8)


Good question, I was curious whether someone ask this question.
I use only limit orders. Very rarely stop or market orders. Yes, I enter on those lines. I strongly believe, that trading is not only about entries, the main things from my point of view are money management (risk, position sizing etc.) and exits. I almost don't use SL, but I always set up emergency SL with every trade to avoid unexpected events. I have maximum weekly loss per pair (around 300 pips) and risk around 1.5% per trade (believe it or not even with this small risk is really not problem to make +30% weekly). As soon as I get first breakout in my direction I usually move SL closer, usually above/below the last swing. But what is really powerful is using accumulated profit during a week to increase position size agresively. I don't want to use and risk my money, but money I make during first two, three days of week. That's why I like so much friday trading :D


I wish you luck in the way you trade. But you gotta remember that if you keep trading without a stop, one day you will get a margin call and your entire account will be blown.

I am not trying to put you down. But if you keep trading like this eventually all your profits will be whipped away in one trade.

What I don't understand is how 300 pips represents 1.5% of your account and your pulling 30% weekly returns.

Once again don't take this as an insult in the way you trade. But many people had good success in trading forex because they never used stops and then there will always be that one trade that will take it all away.


That is misunderstanding. I should start to study English again or move again abroad for some time. 300 pips is my maximum weekly loss per pair. It represents around 7.5% of my account. I always use SL!!!!! Believe me I destroyed more than enough accounts in my trading carrier :D
What I want to point out, is the idea of some kind of cushion money management. MO mentioned this idea several times in this forum, but I think no one wants to hear. Most of people in my opinion still looking for some Entry holy grail.


300 pips at 7.5% is 40 pips= 1% which is low leverage for those that are
unsure.

Manta, I am interesrested in how you use your money management, ie.
profit cushion and increased lot size over the week? I wouldn't mind
doubling my return each month.


yep, it is really just basic math. I'm in touch with Lukx via email and he made 50% in last two weeks just with this basic edge like ZLs and I think he is still a bit scared :D to use this agresive position sizing. But the risk is really not higher. Just think about it. Idea is to use profit you make during a week to make even more. Simply reinvest that money like in any other business.


Not much to go on, but something else I'll have to test and research.
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TheRumpledOne
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Postby TheRumpledOne » Sat May 29, 2010 5:01 pm

What is the definition of a WICK DOLL?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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MightyOne
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Postby MightyOne » Sat May 29, 2010 6:29 pm

TheRumpledOne wrote:What is the definition of a WICK DOLL?


Wick Doll is a (Wick) in the (D)irection (o)f (L)oss...L

It is like saying MOMO for Momentum Candle.

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adaseb
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Postby adaseb » Sat May 29, 2010 6:44 pm

MightyOne wrote:
TheRumpledOne wrote:What is the definition of a WICK DOLL?


Wick Doll is a (Wick) in the (D)irection (o)f (L)oss...L

It is like saying MOMO for Momentum Candle.


i did not know this either

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Postby adaseb » Sun May 30, 2010 10:09 pm

Hmm.

What is this plank bed and cushion MM that you guys are posting charts of?

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Postby aliassmith » Mon May 31, 2010 12:48 am

adaseb wrote:Hmm.

What is this plank bed and cushion MM that you guys are posting charts of?


Looks like plank bed is a base line MM that uses standard lots for each
trade.

Cushion MM has to do with using profit to increase lot size and SL sizes
over the next few trades in the cycle.

Start out with standard MM then when in some profit turn it into a larger SL and/or lot size. Make bold decisions with other people's money!

It is another tool that needs to be tested and exploited :twisted:
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Postby aliassmith » Mon May 31, 2010 12:59 am

Manta wrote:
aliassmith wrote:
Manta wrote:
aliassmith wrote:
Manta wrote:
adaseb wrote:
Manta wrote:
cfabian wrote:Manta, not sure if I understand correctly your entries, bur from what I understand, you entry right at the lines, what put you in a severe draw down, at aprox -40 for the first 2 and -20 for the 3rd.

Did I get your entries correctly? How do you handle such DD or what is your SL on each case?

Image


Manta wrote:
prochargedmopar wrote:
Manta wrote:"six pack" ZL trading




Very nice trading manta,

You got BALLS!!

I will dream about that pic tonight.


Hahaha, thanks.
Don't dream about, just do it and enjoy. All you need are two magic momos.

And imagine this is only one pair (I trade 4) and 1 day (I trade 5) :twisted:

EDIT: not magic momos, but mighty momos 8)


Good question, I was curious whether someone ask this question.
I use only limit orders. Very rarely stop or market orders. Yes, I enter on those lines. I strongly believe, that trading is not only about entries, the main things from my point of view are money management (risk, position sizing etc.) and exits. I almost don't use SL, but I always set up emergency SL with every trade to avoid unexpected events. I have maximum weekly loss per pair (around 300 pips) and risk around 1.5% per trade (believe it or not even with this small risk is really not problem to make +30% weekly). As soon as I get first breakout in my direction I usually move SL closer, usually above/below the last swing. But what is really powerful is using accumulated profit during a week to increase position size agresively. I don't want to use and risk my money, but money I make during first two, three days of week. That's why I like so much friday trading :D


I wish you luck in the way you trade. But you gotta remember that if you keep trading without a stop, one day you will get a margin call and your entire account will be blown.

I am not trying to put you down. But if you keep trading like this eventually all your profits will be whipped away in one trade.

What I don't understand is how 300 pips represents 1.5% of your account and your pulling 30% weekly returns.

Once again don't take this as an insult in the way you trade. But many people had good success in trading forex because they never used stops and then there will always be that one trade that will take it all away.


That is misunderstanding. I should start to study English again or move again abroad for some time. 300 pips is my maximum weekly loss per pair. It represents around 7.5% of my account. I always use SL!!!!! Believe me I destroyed more than enough accounts in my trading carrier :D
What I want to point out, is the idea of some kind of cushion money management. MO mentioned this idea several times in this forum, but I think no one wants to hear. Most of people in my opinion still looking for some Entry holy grail.


300 pips at 7.5% is 40 pips= 1% which is low leverage for those that are
unsure.

Manta, I am interesrested in how you use your money management, ie.
profit cushion and increased lot size over the week? I wouldn't mind
doubling my return each month.


yep, it is really just basic math. I'm in touch with Lukx via email and he made 50% in last two weeks just with this basic edge like ZLs and I think he is still a bit scared :D to use this agresive position sizing. But the risk is really not higher. Just think about it. Idea is to use profit you make during a week to make even more. Simply reinvest that money like in any other business.


Not much to go on, but something else I'll have to test and research.


Do the research, try it on sample data from your trading results. Time to time I'm doing the same (see the picture how different the results can be with or without proper position sizing). Sometimes I also think, that I'm really sick and should watch more porn sites than spend so much time with charts :D


What are you taking about? Charts are porn.... aren't they?

Anyway, are those graphs based on your trading data? If so damn near
400% return on each pair. Worth the research and comparing verses
changing lot size daily.
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Postby adaseb » Mon May 31, 2010 2:00 am

I actually tried implementing a system similar to what you guys refer to the cushion system.

Its more like if you enter a trade with a SL of 15, you sell half your position when your trade hits +15, and leave your original stop loss as is.

This way if you were end up stopped out, you lose nothing.

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Postby MightyOne » Mon May 31, 2010 4:37 am

Manta wrote:Here is another example. Do you see the different results even among highly correlated pairs...

EDIT: very nice example was between EJ-GU-GJ, but unfortunately I cannnot find this picture now. Anyway, do your homework and try to play with position sizing. You will be surprised.



How about:

16, 16, 34, 34 for a total of 100 to 1

If price doesn't touch your average then you will give a bucket shop a heart attack.

If it does touch your average you are dead :shock: :lol:

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Postby Pro Trader » Mon May 31, 2010 8:22 am

Hi all. I've been following this thread for a little while now and I whilst demo trading I've had the most consistent wins using these concepts than with anything else I've traded. I'm actually reading the chart now as appose to relying on indicators to trade. It is indeed much better.

Took my first live trade today which ended in profit which was good but I didn't hold till my target. That will come with time I'm sure.

Just wanted to thank all for their posts and comments. It is all really helpful. Any advice or comments are welcome

EJ H1: Price was heading up to the 50% level of the red momo, hit a zline indicated by blue line then started to reverse and continue back down.

I then dropped to the 15m to look for an entry.

Marked up 50% area on reversal candle from H1 analysis then waited.
Next candle hit the 100% level before reversing.
I entered at the 0% price with a 20 pip SL which was above the zline marked in blue (I didnt have all these extra lines to trade I just added them for this post to show my process)

Target was solid yellow line but I came out at the short yellow line in the middle of the red momo candle. I exited to early (obviously). Only afterwards did I remember MO's advice to exit after a Momo/long bodied candle. Only took 13 pip.

We live and we learn.

Hope to keep on learning as I trade.

Much pips to all

Image

Image

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