Never Lose Again

[razorboy]

I know it is off topic, but i thought some of you would find my posting funny

http://toronto.en.craigslist.ca/tor/zip/1148852614.html

ya, i make myself laugh

[eudamonia]

The posting was removed razor. What was it?

Edward

[razorboy]

just a rant about people not coming to take free stuff i am giving away

[MightyOne]

"Are you scaling in and out of your positions over and over again? (like start with three units, take two off as price pops, keep one on that falls against you for a bit, then build on it again when price turns) -Razorboy

1% risk based on high water mark

Start with a position size of 10 pips = 1%

SL = 9p if touched or 8 pips trade through.

When I am up 5 or more pips then I reduce my position
and expand my SL which is now my break even point.

My analysis is now over and I simply hold for better or for BE until my goal is reached.

Based on observation, price moves a hundred to hundreds of pips one way or the other on any given day.
So long as you manage your risk and keep positioning your self for the moves there is no reason why you shouldn't catch them save that you were fearful and did not endure until the goal was met.

I only reduce my position size once to shed risk and to increase the probability of reaching a longer term goal (the short term goal being not losing money).
I do not add the fractions back in at any point.

There are many ways to manage your money; I manage mine to achieve very high returns.

You do not need your full position to make a huge return:

Large moves bring large gains where as excessive amounts of risk only bring more risk.

[razorboy]

crystal clear - the concept of adding to your stop loss is clear as day - add the profit from individual positions ( as you close them out) within the whole trade to ride out the draw down periods.........

finally makes sense.............more sense.........

"Are you scaling in and out of your positions over and over again? (like start with three units, take two off as price pops, keep one on that falls against you for a bit, then build on it again when price turns) -Razorboy

1% risk based on high water mark

Start with a position size of 10 pips = 1%

SL = 9p if touched or 8 pips trade through.

When I am up 5 or more pips then I reduce my position
and expand my SL which is now my break even point.

My analysis is now over and I simply hold for better or for BE until my goal is reached.

Based on observation, price moves a hundred to hundreds of pips one way or the other on any given day.
So long as you manage your risk and keep positioning your self for the moves there is no reason why you shouldn't catch them save that you were fearful and did not endure until the goal was met.

I only reduce my position size once to shed risk and to increase the probability of reaching a longer term goal (the short term goal being not losing money).
I do not add the fractions back in at any point.

There are many ways to manage your money; I manage mine to achieve very high returns.

You do not need your full position to make a huge return:

Large moves bring large gains where as excessive amounts of risk only bring more risk.

[razorboy]

More thoughts on this.....You are essentially building a rocket ship............each position acts as a booster to get your final position to the target............

crystal clear - the concept of adding to your stop loss is clear as day - add the profit from individual positions ( as you close them out) within the whole trade to ride out the draw down periods.........

finally makes sense.............more sense.........

"Are you scaling in and out of your positions over and over again? (like start with three units, take two off as price pops, keep one on that falls against you for a bit, then build on it again when price turns) -Razorboy

1% risk based on high water mark

Start with a position size of 10 pips = 1%

SL = 9p if touched or 8 pips trade through.

When I am up 5 or more pips then I reduce my position
and expand my SL which is now my break even point.

My analysis is now over and I simply hold for better or for BE until my goal is reached.

Based on observation, price moves a hundred to hundreds of pips one way or the other on any given day.
So long as you manage your risk and keep positioning your self for the moves there is no reason why you shouldn't catch them save that you were fearful and did not endure until the goal was met.

I only reduce my position size once to shed risk and to increase the probability of reaching a longer term goal (the short term goal being not losing money).
I do not add the fractions back in at any point.

There are many ways to manage your money; I manage mine to achieve very high returns.

You do not need your full position to make a huge return:

Large moves bring large gains where as excessive amounts of risk only bring more risk.

[MightyOne]

Profit / %PositionHeld - InitialSL = X pip lower/higher SL

Exit 1/3 at +13 = 13 / 0.67 - 9 = 10.4 pip lower/higher SL

crystal clear - the concept of adding to your stop loss is clear as day - add the profit from individual positions ( as you close them out) within the whole trade to ride out the draw down periods.........

finally makes sense.............more sense.........

"Are you scaling in and out of your positions over and over again? (like start with three units, take two off as price pops, keep one on that falls against you for a bit, then build on it again when price turns) -Razorboy

1% risk based on high water mark

Start with a position size of 10 pips = 1%

SL = 9p if touched or 8 pips trade through.

When I am up 5 or more pips then I reduce my position
and expand my SL which is now my break even point.

My analysis is now over and I simply hold for better or for BE until my goal is reached.

Based on observation, price moves a hundred to hundreds of pips one way or the other on any given day.
So long as you manage your risk and keep positioning your self for the moves there is no reason why you shouldn't catch them save that you were fearful and did not endure until the goal was met.

I only reduce my position size once to shed risk and to increase the probability of reaching a longer term goal (the short term goal being not losing money).
I do not add the fractions back in at any point.

There are many ways to manage your money; I manage mine to achieve very high returns.

You do not need your full position to make a huge return:

Large moves bring large gains where as excessive amounts of risk only bring more risk.

[Ray_1]

TRO,
I have been following the James16 thread on FF. It is extremely long so I am just getting started. Are you a member of the PF? What are your thoughts on James16? He seems to be a good guy and I was considering joining the PF. What is your opinion of him and/or his methods?

hi rowdy, I had been to James16 thread on FF and PF too. I ensure you that you won't regret joining the private forum. Inside the forum I learn a lot about price actions trading using support and resistance. My chart is now clean of indicators just bar charts or candlesticks. Besides James16 there are alot of good trader there sharing their systems. There is also a whole section devoted to money management. I am aiming to stay for one year and become a life long member.

[rowdy]

TRO,
I have been following the James16 thread on FF. It is extremely long so I am just getting started. Are you a member of the PF? What are your thoughts on James16? He seems to be a good guy and I was considering joining the PF. What is your opinion of him and/or his methods?

hi rowdy, I had been to James16 thread on FF and PF too. I ensure you that you won't regret joining the private forum. Inside the forum I learn a lot about price actions trading using support and resistance. My chart is now clean of indicators just bar charts or candlesticks. Besides James16 there are alot of good trader there sharing their systems. There is also a whole section devoted to money management. I am aiming to stay for one year and become a life long member.

Thanks Ray_1, I will certainly consider it. I like what I am seeing in the public forum so far. James16 seems to be a very good guy.

One of the problems that I am fighting right now is trying to stay focused on one thing at a time. It is so easy to get pulled in many different directions. There are many good ideas here that I want to explore, plus I want to read a lot of different threads on a number of different websites.
Then I find myself reading too much and not manually trading enough.
I work a regular job so I need to be manually trading weeknights.

Thanks again for your insight.

[PTG]

Profit / %PositionHeld - InitialSL = X pip lower/higher SL

Exit 1/3 at +13 = 13 / 0.67 - 9 = 10.4 pip lower/higher SL

crystal clear - the concept of adding to your stop loss is clear as day - add the profit from individual positions ( as you close them out) within the whole trade to ride out the draw down periods.........

finally makes sense.............more sense.........

"Are you scaling in and out of your positions over and over again? (like start with three units, take two off as price pops, keep one on that falls against you for a bit, then build on it again when price turns) -Razorboy

1% risk based on high water mark

Start with a position size of 10 pips = 1%

SL = 9p if touched or 8 pips trade through.

When I am up 5 or more pips then I reduce my position
and expand my SL which is now my break even point.

My analysis is now over and I simply hold for better or for BE until my goal is reached.

Based on observation, price moves a hundred to hundreds of pips one way or the other on any given day.
So long as you manage your risk and keep positioning your self for the moves there is no reason why you shouldn't catch them save that you were fearful and did not endure until the goal was met.

I only reduce my position size once to shed risk and to increase the probability of reaching a longer term goal (the short term goal being not losing money).
I do not add the fractions back in at any point.

There are many ways to manage your money; I manage mine to achieve very high returns.

You do not need your full position to make a huge return:

Large moves bring large gains where as excessive amounts of risk only bring more risk.

MO,

Thanks much for your intriguing thoughts throughout this thread. I don't quite follow your reasoning and your formula unfortunately, perhaps because I read that you on one hand want to increase your chances of success by increasing s/l, on the other hand you want to decrease risk (which would mean to decrease s/l) and/or break even. It may be me, I don't know. I'd like to find out if and what it is exactly what you're saying, so please have a look at my thoughts below and please let me know your feedback.

Definition of a pip (percentage in point) is a move of e.g. 0.0001 for the E/U. It is independent of lot size and other things, just the smallest move for a currency.

You enter a trade with 3 lot-units (minilot, lots, not important for this excersize) at -say- 1.0000

You have a s/l of 9 for each lot-unit, e.g. 1.0000-9=0.9991 and your total risk is 3 * 0.0009=0.0027

Price moves your way (e.g. away from s/l).
It hits +13 pips e.g. 1.0013

You dump 1 of the 3 units for a profit of 1*0.0013=0.0013

For the rest of the trade you want to increase your chances for success by applying the same aggregate risk that you had on the 3 lot-units (in total 0.0027) to the remaining two, increased by the profit you made on the first lot-unit. The total amount of money at risk would be 0.0027+0.0013=0.0040, which is a s/l of 20 pips for each of the two remaining lot-units (0.9980). This result is close to the result of your formula (0.00104 + 0.0009 = 0.00194) in this case but is dissimilar; if the 13 pips profit taking were to be 20 pips then your formula would yield 21 (20/0,666 - 9) and mine would be 0.0027+0.0020=0.0047 or 23.5 pips per remaining lot-unit, meaning a total potential loss of (2*0.00235)-0.0020=0.0027 which is the same risk as the original 3*9=27 pips.

Or do you want to at least break-even should the trade turn against you, so you distribute the 0.0013 profit over the remaining two lot-units after you have subtracted the 0.0009 for a reason not clear to me ? In that case, as I see it, the leftover to increase your s/l would be 0.0013-0.0009=0.0004, which divided over the remaining two lot-units would decrease s/l by 0.0002 or 2 pips, meaning 9-2=7 pips for a max risk of 0.0014 minus the 0.0013 profit = 0.0001 loss, almost break even.

Can you elaborate on this please ?