MO's MBT Micro

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scratty
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Postby scratty » Tue May 11, 2010 12:06 am

Simple description what i think this is about...

1. Rat Entry (entry1)
2. Closed Candle S&R Break
3. Wick from S&R (entry2)
4. Closed Candle breaks next S&R
5. Wick from S&R (entry3)

Something like that? Other thaughts?
Lose professionally!

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Postby gfg1 » Tue May 11, 2010 12:35 am

Another effort at 2 to 2.
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test.jpg
test.jpg (70.96 KiB) Viewed 1842 times
Price closed over a line that you believed to be support and that is the first indication that something is WRONG-MO

Humble
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Postby Humble » Tue May 11, 2010 2:50 am

MightyOne wrote:If you are always a little better this week than you were last week then how long would it take you to be the next "Destroyer of Dreams"?


Image

1/. Multi t/f memo
2/. & 3/. S&R
4/. Rat entry
5/. Add to position
6/. Average Position
7/. Hedge
8/. (not shown) Exit hedge on memo extreme at line 3
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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Postby aliassmith » Tue May 11, 2010 3:57 am

Wow MightyOne I have been thinking about this new idea you recently
presented. It is unbelieveable how powerful it can be averaging more lots
into a trade without adding risk. It looks to be a very logical way to do it. :) Great way to trade big moves being greedy and all. 8)
Trade Your Way as Long as It Makes Money!

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MightyOne
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Postby MightyOne » Tue May 11, 2010 5:40 am

aliassmith wrote:Wow MightyOne I have been thinking about this new idea you recently
presented. It is unbelieveable how powerful it can be averaging more lots
into a trade without adding risk. It looks to be a very logical way to do it. :) Great way to trade big moves being greedy and all. 8)



It is all about putting that cushion of profit to good use.

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scratty
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Postby scratty » Tue May 11, 2010 6:01 am

Im think there are two ways for Risk control with scaling in:
1. Risk stays at the same level (needs stop adjustements after adding)
2. Total Risk is calculated for the hole position (4Units) and the first two entries are just 1/2 Position (no Stop addustements needed)

MO: You told us many times to not move sl. Can i assume that this means the risk control method is more like the 2. mentioned?

Thanks for all your help!
Lose professionally!

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Postby MightyOne » Tue May 11, 2010 6:44 am

scratty wrote:Im think there are two ways for Risk control with scaling in:
1. Risk stays at the same level (needs stop adjustements after adding)
2. Total Risk is calculated for the hole position (4Units) and the first two entries are just 1/2 Position (no Stop addustements needed)

MO: You told us many times to not move sl. Can i assume that this means the risk control method is more like the 2. mentioned?

Thanks for all your help!


As I told PRO, you want your average risk to be 0.9% per day.

4.5% / 5 days = 0.9%

If you have a $1,000 account then your max risk would then be $45 for the WHOLE WEEK (kind of hard to use all $45).

If your entry strategy is 5,000 + 5,000 + 10,000 then:

With trade one it doesn't matter if you are immediately wrong on a few trades as you have 90 pips to work with.

Trade two you have 45 pips + your cushion of profit.

Trade three you are working with 22.5 pips + your cushion of profit (which should be reasonably large ;)

The number of pips that you have to work with drops as you lose (of course).

The most you can lose is 4.5% but every 100 pips you gain you make 20% or 4+ weeks worth of losses.

The only thing that can stop you is losing your own money.

Don't stress about losing profits...it is for a good cause :lol:

He who is faithful with little shall be entrusted with much -Bible

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MightyOne
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Postby MightyOne » Tue May 11, 2010 6:57 am

I always tell people (even my close friends) that if you want to get out then you should do so at the extreme.

How many times will price NOT make a lower low?

ONE TIME!

"But what if price doesn't make a lower low and I give back my profit?"

How much profit are you giving back if you do not exit at the low the other trillion times it went on to make new lows?

Feel free to argue with me :wink:

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scratty
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Postby scratty » Tue May 11, 2010 7:07 am

Thanks for your time!

loosing profits and loosing trades are part of the game.
Tell me if i undertood it right? So what your saying is because you limit your daily loss to 0.9% It is not that important where your initial sl is because your max daliy loss is <1% and your max weekly loss is max 4.5%?


MightyOne wrote:
scratty wrote:Im think there are two ways for Risk control with scaling in:
1. Risk stays at the same level (needs stop adjustements after adding)
2. Total Risk is calculated for the hole position (4Units) and the first two entries are just 1/2 Position (no Stop addustements needed)

MO: You told us many times to not move sl. Can i assume that this means the risk control method is more like the 2. mentioned?

Thanks for all your help!


As I told PRO, you want your average risk to be 0.9% per day.

4.5% / 5 days = 0.9%

If you have a $1,000 account then your max risk would then be $45 for the WHOLE WEEK (kind of hard to use all $45).

If your entry strategy is 5,000 + 5,000 + 10,000 then:

With trade one it doesn't matter if you are immediately wrong on a few trades as you have 90 pips to work with.

Trade two you have 45 pips + your cushion of profit.

Trade three you are working with 22.5 pips + your cushion of profit (which should be reasonably large ;)

The number of pips that you have to work with drops as you lose (of course).

The most you can lose is 4.5% but every 100 pips you gain you make 20% or 4+ weeks worth of losses.

The only thing that can stop you is losing your own money.

Don't stress about losing profits...it is for a good cause :lol:

He who is faithful with little shall be entrusted with much -Bible
Lose professionally!

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MightyOne
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Postby MightyOne » Tue May 11, 2010 7:22 am

scratty wrote:Thanks for your time!

loosing profits and loosing trades are part of the game.
Tell me if i undertood it right? So what your saying is because you limit your daily loss to 0.9% It is not that important where your initial sl is because your max daliy loss is <1% and your max weekly loss is max 4.5%?


MightyOne wrote:
scratty wrote:Im think there are two ways for Risk control with scaling in:
1. Risk stays at the same level (needs stop adjustements after adding)
2. Total Risk is calculated for the hole position (4Units) and the first two entries are just 1/2 Position (no Stop addustements needed)

MO: You told us many times to not move sl. Can i assume that this means the risk control method is more like the 2. mentioned?

Thanks for all your help!


As I told PRO, you want your average risk to be 0.9% per day.

4.5% / 5 days = 0.9%

If you have a $1,000 account then your max risk would then be $45 for the WHOLE WEEK (kind of hard to use all $45).

If your entry strategy is 5,000 + 5,000 + 10,000 then:

With trade one it doesn't matter if you are immediately wrong on a few trades as you have 90 pips to work with.

Trade two you have 45 pips + your cushion of profit.

Trade three you are working with 22.5 pips + your cushion of profit (which should be reasonably large ;)

The number of pips that you have to work with drops as you lose (of course).

The most you can lose is 4.5% but every 100 pips you gain you make 20% or 4+ weeks worth of losses.

The only thing that can stop you is losing your own money.

Don't stress about losing profits...it is for a good cause :lol:

He who is faithful with little shall be entrusted with much -Bible


I am saying that I will not lose more that 4.5% per week.

Whatever I can do with 4.5% of my account on any given week is what I can do.
If I make 16% and decide to risk that 16% on a massive TF chart then so be it.
Either I lose 4.5% or make 40, 50, 70, or even 148% when all is said and done.

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