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Shadik
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Postby Shadik » Thu Mar 19, 2009 6:41 pm

Ok guys, here is my 2 trading. I know meaby its not perfect but I still try SEE. I have a big problem with TP :)

Both profitable +33 pips.
50 pips/day its all what I need to be happy - I think that:P I know its not much - but i think thats enough.

Ok, where was my mistake?

Image
Image

Thanks for help me and for this best topic ever:)

Edit: I dont know how show you my img here so there are 2 links;/ Sorry for that.
Edit2: thx ES its works:)
Last edited by Shadik on Thu Mar 19, 2009 7:10 pm, edited 3 times in total.

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MightyOne
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Postby MightyOne » Thu Mar 19, 2009 6:57 pm

es/pip wrote:
MightyOne wrote:
es/pip wrote:
MightyOne wrote:
es/pip wrote:
MightyOne wrote:
es/pip wrote:pro,

i wasn't planning on trading----just answering your q.

but when i was marking my chart i was like looky looky

i owe ya a beer :D

Image


Might want to focus on momentum outside of congestion first :wink:

Image


i entered 1/4 on the first candle back into the zone on my chart and then i added to it a couple of times when it started moving

but once i entered on the first candle back into the zone as far as i knew it could have gone straight up------- how would you have handled/entered on this one


thanks


Without a marked chart from you to go along with your text I can't do much for you.



Image


There are so many things that you can do with more time to breathe and more space to move, but this is a 5 minute chart.
Just enter when you feel like entering and exit when a body closes against you.

I scalp for 2/3 risk and then risk the gain on a separate trade to grab as many pips as I can.

Position size:

First trade: 1 unit ( .67u scalp)

Second Trade: .66 (any)

Third Trade: .44 Stay here gunning long term charts on small TF until 2 losses. (LARGE)



MO,

so

lets say for example

you are watching a setup on the 30min, and you enter on the 5 min-------the 30 min may have a target of 50pips

so you trade the 5 in the scalping way u described above and are not looking for the 50 pip target off your first entry on the 5

you just work the 5 min down to your target area on the 30 min

or is what u described above based off trading just a lower time frame chart


not sure if any of that made any sense or not

I be a tad hung over today :D


If I did not lose a trade prev. then I would be in the "grab any" or "eternal" phase of my trading strategy.

The goal is simply to move my account forward by grabbing quick small gains at high (4%) risk and then using those gains to bring in even larger returns on my account.

On one end I am risking 4% to make 2.68% and on the other I am risking 0.88-1.76% to make 14, 24%, or more.

The higher the probability at which I can scalp the lower the probability that I will end the day with less money than I started with.

What if you started the day by risking 5% over 20pips and you followed the rule of "no less than 1.5 to 1?"
You would need to target at least 30 pips to make a 7.5% return with an exposure to 5% draw down.
You could move your stop to break even or a small profit, but now you are not getting your 1.5 to 1 most of the time and you are still at risk for 5% on your next trade.
(1.5 to 1 40% of the time and 0.5 to 1 60% of the time = 1.5 * 0.4 + 0.5 * 0.6 = 0.9 to 1)

Had you scalped the money to trade with then you would only be at risk for your cushion of profit and you would then act fearlessly which would generate even more profit than had you been worried over losing 5%.

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es/pip
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Postby es/pip » Thu Mar 19, 2009 6:59 pm

Shadik wrote:Ok guys, here is my 2 trading. I know meaby its not perfect but I still try SEE. I have a big problem with TP :)

Both profitable +33 pips.
50 pips/day its all what I need to be happy - I think that:P I know its not much - but i think thats enough.

Ok, where was my mistake?
Image
Image



Thanks for help me and for this best topic ever:)


Edit: I dont know how show you my img here so there are 2 links;/ Sorry for that.




to post your charts go to tinypic.com

upload and then copy and paste the img tag into the body of your message

those trades look good to me

i actually took both of those----i will post charts after i figure out what i am going to do with my euro short lol

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es/pip
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Postby es/pip » Thu Mar 19, 2009 7:06 pm

shadik,

i think these were the same setups you took


these were mine

Image

Image

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es/pip
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Postby es/pip » Thu Mar 19, 2009 7:12 pm

MightyOne wrote:
es/pip wrote:
MightyOne wrote:
es/pip wrote:
MightyOne wrote:
es/pip wrote:
MightyOne wrote:
es/pip wrote:pro,

i wasn't planning on trading----just answering your q.

but when i was marking my chart i was like looky looky

i owe ya a beer :D

Image


Might want to focus on momentum outside of congestion first :wink:

Image


i entered 1/4 on the first candle back into the zone on my chart and then i added to it a couple of times when it started moving

but once i entered on the first candle back into the zone as far as i knew it could have gone straight up------- how would you have handled/entered on this one


thanks


Without a marked chart from you to go along with your text I can't do much for you.



Image


There are so many things that you can do with more time to breathe and more space to move, but this is a 5 minute chart.
Just enter when you feel like entering and exit when a body closes against you.

I scalp for 2/3 risk and then risk the gain on a separate trade to grab as many pips as I can.

Position size:

First trade: 1 unit ( .67u scalp)

Second Trade: .66 (any)

Third Trade: .44 Stay here gunning long term charts on small TF until 2 losses. (LARGE)



MO,

so

lets say for example

you are watching a setup on the 30min, and you enter on the 5 min-------the 30 min may have a target of 50pips

so you trade the 5 in the scalping way u described above and are not looking for the 50 pip target off your first entry on the 5

you just work the 5 min down to your target area on the 30 min

or is what u described above based off trading just a lower time frame chart


not sure if any of that made any sense or not

I be a tad hung over today :D


If I did not lose a trade prev. then I would be in the "grab any" or "eternal" phase of my trading strategy.

The goal is simply to move my account forward by grabbing quick small gains at high (4%) risk and then using those gains to bring in even larger returns on my account.

On one end I am risking 4% to make 2.68% and on the other I am risking 0.88-1.76% to make 14, 24%, or more.

The higher the probability at which I can scalp the lower the probability that I will end the day with less money than I started with.

What if you started the day by risking 5% over 20pips and you followed the rule of "no less than 1.5 to 1?"
You would need to target at least 30 pips to make a 7.5% return with an exposure to 5% draw down.
You could move your stop to break even or a small profit, but now you are not getting your 1.5 to 1 most of the time and you are still at risk for 5% on your next trade.
(1.5 to 1 40% of the time and 0.5 to 1 60% of the time = 1.5 * 0.4 + 0.5 * 0.6 = 0.9 to 1)

Had you scalped the money to trade with then you would only be at risk for your cushion of profit and you would then act fearlessly which would generate even more profit than had you been worried over losing 5%.



ok i'm with you


thanks

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MightyOne
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Postby MightyOne » Thu Mar 19, 2009 7:18 pm

Shadik wrote:Ok guys, here is my 2 trading. I know meaby its not perfect but I still try SEE. I have a big problem with TP :)

Both profitable +33 pips.
50 pips/day its all what I need to be happy - I think that:P I know its not much - but i think thats enough.

Ok, where was my mistake?

Image
[img]http://i43.tinypic.com/2wdosnb.gif[img]

Thanks for help me and for this best topic ever:)

Edit: I dont know how show you my img here so there are 2 links;/ Sorry for that.
Edit2: thx ES its works:)


Your mistake is setting a static goal that is based on emotion.

If you are risking 1% per trade over 33 pips then a 33 pip gain is 1 to 1.
If you are risking 1% per trade over 1 pip then a 33 pip gain is 33 to 1!

Only speed of growth matters in the business of trading.

On the EURJPY with an ATR of 24 I would risk 16 pips as 4% with a profit target of 10.7 pips.
I would have then taken another trade in the same direction with the increase in momentum under me for a gain of anything I could get my hands on.

Shadik
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Postby Shadik » Thu Mar 19, 2009 7:19 pm

Es/pip thanks you for that. I have long on E/u right now and there is +25 pips.

My limit for one day is 50pips. So now I very happy beacuse I can say now: I see it. Guys - thanks you, thanks you x 100 :) I have to still work on that method - but i think - this is my little step for better future. I dont use indicators. I dont believe. Im still in shock:) I will post my next chart after close.

Shadik
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Postby Shadik » Thu Mar 19, 2009 7:24 pm

Es/pip look at this:

Image

is this good entry and exit? Or I have a luck?
Yellow lables are my entry/exit


Again I have to say : THANK YOU!!

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es/pip
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Postby es/pip » Thu Mar 19, 2009 7:26 pm

MightyOne wrote:
Shadik wrote:Ok guys, here is my 2 trading. I know meaby its not perfect but I still try SEE. I have a big problem with TP :)

Both profitable +33 pips.
50 pips/day its all what I need to be happy - I think that:P I know its not much - but i think thats enough.

Ok, where was my mistake?

Image
[img]http://i43.tinypic.com/2wdosnb.gif[img]

Thanks for help me and for this best topic ever:)

Edit: I dont know how show you my img here so there are 2 links;/ Sorry for that.
Edit2: thx ES its works:)


Your mistake is setting a static goal that is based on emotion.

If you are risking 1% per trade over 33 pips then a 33 pip gain is 1 to 1.
If you are risking 1% per trade over 1 pip then a 33 pip gain is 33 to 1!

Only speed of growth matters in the business of trading.

On the EURJPY with an ATR of 24 I would risk 16 pips as 4% with a profit target of 10.7 pips.
I would have then taken another trade in the same direction with the increase in momentum under me for a gain of anything I could get my hands on.



very interesting


thanks for that again

makes perfect sense

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es/pip
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Postby es/pip » Thu Mar 19, 2009 7:34 pm

Shadik wrote:Es/pip look at this:

Image

is this good entry and exit? Or I have a luck?
Yellow lables are my entry/exit


Again I have to say : THANK YOU!!



this is just my opinion on that one----MO would be the one to ask for a solid reply

the bar u are marking your zline off of did not have a body 2x the prev bar and then you had an up bar and then a down bar with more momentum than the small up bar so----------i do not agree with that one----but i am glad that it worked.

had the bar that you marked indeed had a body 2x the prev bar's body and then you get a small up bar and then a down bar larger coming into the z area---- you have to be cautious and trade away from support(as MO says) and not treat it the same as the other setup


the increase in body size is saying that the momentum is increasing from the last period in time


hope that made sense----and i hope it was a correct explanation
Last edited by es/pip on Thu Mar 19, 2009 7:37 pm, edited 1 time in total.

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