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pawelklos
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Postby pawelklos » Mon Jun 06, 2011 12:45 pm

aliassmith wrote:
pawelklos wrote:
aliassmith wrote:
newscalper wrote:Cheers m8, much appreciated :D
FTI - is that the FTI on FF with the huge TA fallacy thread?
Phantom - yes, rule 2? I think, press winners.


Yes FTI is the TA fallacy guy. The importance of his message was the snow
balling your position. There are several ways to take advantage of pressing
your positions and profits.

I increase my base risk as my account grows.
I add into positions.
I use profit cushion to increase position size.

It makes for good survivability and has good profit potential. If you are a
"super" trader like AJay then 50:1 leverage all the way. We are not "super"
traders so always manager your risk well.


Can you give a link? I am very interested.

Thank you


http://www.forexfactory.com/showthread.php?t=57639


Thanks.

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ajaymein
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Postby ajaymein » Mon Jun 06, 2011 1:34 pm

aliassmith wrote:
MightyOne wrote:
aliassmith wrote:
newscalper wrote:Cheers m8, much appreciated :D
FTI - is that the FTI on FF with the huge TA fallacy thread?
Phantom - yes, rule 2? I think, press winners.


Yes FTI is the TA fallacy guy. The importance of his message was the snow
balling your position. There are several ways to take advantage of pressing
your positions and profits.

I increase my base risk as my account grows.
I add into positions.
I use profit cushion to increase position size.

It makes for good survivability and has good profit potential. If you are a
"super" trader like AJay then 50:1 leverage all the way. We are not "super"
traders so always manager your risk well.


They start at 50:1 leverage?


Pretty sure Ajaymein does 50:1 to be able to make 50% to 400% a day.
50:1 at $1 per ounce of silver would be over 100%.

I know you are a "super" trader MO and you don't use 50:1 unless you work
your profit cushion. What do you start at 5:1 and 4.5% risk?


Although I have used max leverage 50:1 pretty aggressively and often, my risk is still pretty low around 10% because my stops average less than 10 pips...for some people, that is a huge risk. The way I see it, I am actually risking a lot less than 10% because I don't keep my whole investment savings in my forex account.

There are a lot of gray areas and variables that go into how much you are really risking as well. Some people set SL and TP and let either get hit...in that case, you have a hard X% risk. In my case, I move to BE or move my stop tighter and tighter behind price levels until I am at BE + profit...and usually this occurs within minutes...so am I actually risking 10%...?? I'm sure some sort of complex mathematical equation could put a real % behind what I am risking...but who gives a damn, as long as your ending balance goes UP instead of DOWN consistently.

aliassmith
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Postby aliassmith » Mon Jun 06, 2011 2:22 pm

ajaymein wrote:
aliassmith wrote:
MightyOne wrote:
aliassmith wrote:
newscalper wrote:Cheers m8, much appreciated :D
FTI - is that the FTI on FF with the huge TA fallacy thread?
Phantom - yes, rule 2? I think, press winners.


Yes FTI is the TA fallacy guy. The importance of his message was the snow
balling your position. There are several ways to take advantage of pressing
your positions and profits.

I increase my base risk as my account grows.
I add into positions.
I use profit cushion to increase position size.

It makes for good survivability and has good profit potential. If you are a
"super" trader like AJay then 50:1 leverage all the way. We are not "super"
traders so always manager your risk well.


They start at 50:1 leverage?


Pretty sure Ajaymein does 50:1 to be able to make 50% to 400% a day.
50:1 at $1 per ounce of silver would be over 100%.

I know you are a "super" trader MO and you don't use 50:1 unless you work
your profit cushion. What do you start at 5:1 and 4.5% risk?


Although I have used max leverage 50:1 pretty aggressively and often, my risk is still pretty low around 10% because my stops average less than 10 pips...for some people, that is a huge risk. The way I see it, I am actually risking a lot less than 10% because I don't keep my whole investment savings in my forex account.

There are a lot of gray areas and variables that go into how much you are really risking as well. Some people set SL and TP and let either get hit...in that case, you have a hard X% risk. In my case, I move to BE or move my stop tighter and tighter behind price levels until I am at BE + profit...and usually this occurs within minutes...so am I actually risking 10%...?? I'm sure some sort of complex mathematical equation could put a real % behind what I am risking...but who gives a damn, as long as your ending balance goes UP instead of DOWN consistently.


So if you are risking 10% of your equity then your risk is 10% no matter
position and maneuver. However if you consider other money in your
account as your equity then it is less but technically your gains are less %
wise also.

Hey Ajay I am not knocking what you are doing bro. It just happens to be a
lot of risk for "most" traders because their accuracy is not as great as yours.
I know that other traders see when you post 100% today and when MO and
es/pip did the same. Guess what happens next! They take big hits to their
account.
Trade Your Way as Long as It Makes Money!

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ajaymein
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Postby ajaymein » Mon Jun 06, 2011 2:32 pm

aliassmith wrote:
ajaymein wrote:
aliassmith wrote:
MightyOne wrote:
aliassmith wrote:
newscalper wrote:Cheers m8, much appreciated :D
FTI - is that the FTI on FF with the huge TA fallacy thread?
Phantom - yes, rule 2? I think, press winners.


Yes FTI is the TA fallacy guy. The importance of his message was the snow
balling your position. There are several ways to take advantage of pressing
your positions and profits.

I increase my base risk as my account grows.
I add into positions.
I use profit cushion to increase position size.

It makes for good survivability and has good profit potential. If you are a
"super" trader like AJay then 50:1 leverage all the way. We are not "super"
traders so always manager your risk well.


They start at 50:1 leverage?


Pretty sure Ajaymein does 50:1 to be able to make 50% to 400% a day.
50:1 at $1 per ounce of silver would be over 100%.

I know you are a "super" trader MO and you don't use 50:1 unless you work
your profit cushion. What do you start at 5:1 and 4.5% risk?


Although I have used max leverage 50:1 pretty aggressively and often, my risk is still pretty low around 10% because my stops average less than 10 pips...for some people, that is a huge risk. The way I see it, I am actually risking a lot less than 10% because I don't keep my whole investment savings in my forex account.

There are a lot of gray areas and variables that go into how much you are really risking as well. Some people set SL and TP and let either get hit...in that case, you have a hard X% risk. In my case, I move to BE or move my stop tighter and tighter behind price levels until I am at BE + profit...and usually this occurs within minutes...so am I actually risking 10%...?? I'm sure some sort of complex mathematical equation could put a real % behind what I am risking...but who gives a damn, as long as your ending balance goes UP instead of DOWN consistently.


So if you are risking 10% of your equity then your risk is 10% no matter
position and maneuver. However if you consider other money in your
account as your equity then it is less but technically your gains are less %
wise also.

Hey Ajay I am not knocking what you are doing bro. It just happens to be a
lot of risk for "most" traders because their accuracy is not as great as yours.
I know that other traders see when you post 100% today and when MO and
es/pip did the same. Guess what happens next! They take big hits to their
account.


I completely agree with my percentage gains being less % as well if I consider other money as my equity. I know your not knocking what I do too haha...I just thought I would explain my point of view of risk.

Everyone, especially scalpers, fail hard and really hard before they are successful...I know I did! It is hardly as easy as our charts appears and live trades appear to trade with this style either. But, taking big hits on newbies accounts is something no one can ever prevent...its just part of the huge learning curve forex has.

aliassmith
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Postby aliassmith » Mon Jun 06, 2011 2:42 pm

ajaymein wrote:
aliassmith wrote:
ajaymein wrote:
aliassmith wrote:
MightyOne wrote:
aliassmith wrote:
newscalper wrote:Cheers m8, much appreciated :D
FTI - is that the FTI on FF with the huge TA fallacy thread?
Phantom - yes, rule 2? I think, press winners.


Yes FTI is the TA fallacy guy. The importance of his message was the snow
balling your position. There are several ways to take advantage of pressing
your positions and profits.

I increase my base risk as my account grows.
I add into positions.
I use profit cushion to increase position size.

It makes for good survivability and has good profit potential. If you are a
"super" trader like AJay then 50:1 leverage all the way. We are not "super"
traders so always manager your risk well.


They start at 50:1 leverage?


Pretty sure Ajaymein does 50:1 to be able to make 50% to 400% a day.
50:1 at $1 per ounce of silver would be over 100%.

I know you are a "super" trader MO and you don't use 50:1 unless you work
your profit cushion. What do you start at 5:1 and 4.5% risk?


Although I have used max leverage 50:1 pretty aggressively and often, my risk is still pretty low around 10% because my stops average less than 10 pips...for some people, that is a huge risk. The way I see it, I am actually risking a lot less than 10% because I don't keep my whole investment savings in my forex account.

There are a lot of gray areas and variables that go into how much you are really risking as well. Some people set SL and TP and let either get hit...in that case, you have a hard X% risk. In my case, I move to BE or move my stop tighter and tighter behind price levels until I am at BE + profit...and usually this occurs within minutes...so am I actually risking 10%...?? I'm sure some sort of complex mathematical equation could put a real % behind what I am risking...but who gives a damn, as long as your ending balance goes UP instead of DOWN consistently.


So if you are risking 10% of your equity then your risk is 10% no matter
position and maneuver. However if you consider other money in your
account as your equity then it is less but technically your gains are less %
wise also.

Hey Ajay I am not knocking what you are doing bro. It just happens to be a
lot of risk for "most" traders because their accuracy is not as great as yours.
I know that other traders see when you post 100% today and when MO and
es/pip did the same. Guess what happens next! They take big hits to their
account.


I completely agree with my percentage gains being less % as well if I consider other money as my equity. I know your not knocking what I do too haha...I just thought I would explain my point of view of risk.

Everyone, especially scalpers, fail hard and really hard before they are successful...I know I did! It is hardly as easy as our charts appears and live trades appear to trade with this style either. But, taking big hits on newbies accounts is something no one can ever prevent...its just part of the huge learning curve forex has.


Maybe "big hits" are a natural part of learning because we get over zelous
seeing people like us scalping for stupid returns. It doesn't have to be
like that. Risk management needs to be the first fundamentals learned. You
have your own way of doing that as I do. Hell I spent since the 1st of june
building a profit cushion from low risk. Today I pushed for about 25%. I
have to admit you given me that challenge of actually getting a 100% in
a single day.
Trade Your Way as Long as It Makes Money!

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newscalper
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Postby newscalper » Tue Jun 14, 2011 8:37 am

Yesterday's trade

Daily zline, also in a weekly mighty zone (note the big blue up candle was still forming (obviously)
Image

Looking for entry
Image

Piggy got slaughtered again :cry:

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adaseb
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Postby adaseb » Tue Jun 14, 2011 9:27 am

newscalper wrote:Yesterday's trade

Daily zline, also in a weekly mighty zone (note the big blue up candle was still forming (obviously)
Image

Looking for entry
Image

Piggy got slaughtered again :cry:


i was in this short also, i entered a little higher than you though.

this was actually a pretty good setup, price touched resistance and started pulling back, perfect short setup.

however in that area where it reversed was some minor support, i was watching this area and originally i assumed it would break and fall straight through, however the area held and i bailed.

there is pretty much no way to predict these things, you just need to watch certain areas and see if they hold or break.

paweldobkowski
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Postby paweldobkowski » Tue Jun 14, 2011 10:19 am

newscalper wrote:Yesterday's trade

Daily zline, also in a weekly mighty zone (note the big blue up candle was still forming (obviously)
Image

Looking for entry
Image

Piggy got slaughtered again :cry:


Actually I was long on that one.

It was momentum caondle UP that closed OVER Your line and then NON MOMENTUM candle (compared to those earlier) closed under. There was much more held profit to be zeroed out up. So for me it was looking more UP than DOWN.

But that's subjective I guess otherwise we'd all be trading same setups.

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newscalper
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Postby newscalper » Tue Jun 14, 2011 11:52 am

Yeah, I know what you're saying: I was in the long earlier from the weekly mighty zone up and the morning breakout. That didn't work out too well because I'd added to my position just before the retrace - price had gone through a minor resistance so I added. Then it came back to kill my average so I only got 10 pips out of about a 60 pip move.

However my view is if your looking to trade a daily zline there has to be momentum on the smaller timeframes to get price up to the line within the day, no two ways about it, if it just saunters up it will become a multi-day s/r play.

Often, before price turns there is momo up into an area which fakes out traders looking for further longs. If that's what you're looking for - momo up/ momo down, it's just a CC pin bar.

My entry in this case isn't a momo on a shorter TF play it's just a close over/close under play. I could see the small line there below but 'anyone with more than 2 lines is a fool' - my two lines show the 2 fat cats - close over/under and continuation and I'm committed to the trade unless price closes over my line. It wasn't until the large momo smashed through against me that price closed over the line.

It brings me back to what has been messing me up, I see minor s/r EVERYWHERE. If I take note of them I see no reason to enter. If you are trading retracements, there is always minor support or resistance above/below so I don't see the logic in saying "I wouldn't have taken it because of" because if that's the logic you will never take a trade. You would imagine that daily supply would trump 15 minute demand but again and again, for me, for whatever reason, it's proving not to be the case. I'm starting to see why (I think this is what he does anyway but knowing me I have it arse about face again) ES trades it the other way around - how his charts look to me is that he fades the longer term move going from 5/15 minute momo (say) into prior 1hr/4hr etc s/d areas.

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adaseb
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Postby adaseb » Tue Jun 14, 2011 4:35 pm

newscalper wrote:Yeah, I know what you're saying: I was in the long earlier from the weekly mighty zone up and the morning breakout. That didn't work out too well because I'd added to my position just before the retrace - price had gone through a minor resistance so I added. Then it came back to kill my average so I only got 10 pips out of about a 60 pip move.

However my view is if your looking to trade a daily zline there has to be momentum on the smaller timeframes to get price up to the line within the day, no two ways about it, if it just saunters up it will become a multi-day s/r play.

Often, before price turns there is momo up into an area which fakes out traders looking for further longs. If that's what you're looking for - momo up/ momo down, it's just a CC pin bar.

My entry in this case isn't a momo on a shorter TF play it's just a close over/close under play. I could see the small line there below but 'anyone with more than 2 lines is a fool' - my two lines show the 2 fat cats - close over/under and continuation and I'm committed to the trade unless price closes over my line. It wasn't until the large momo smashed through against me that price closed over the line.

It brings me back to what has been messing me up, I see minor s/r EVERYWHERE. If I take note of them I see no reason to enter. If you are trading retracements, there is always minor support or resistance above/below so I don't see the logic in saying "I wouldn't have taken it because of" because if that's the logic you will never take a trade. You would imagine that daily supply would trump 15 minute demand but again and again, for me, for whatever reason, it's proving not to be the case. I'm starting to see why (I think this is what he does anyway but knowing me I have it arse about face again) ES trades it the other way around - how his charts look to me is that he fades the longer term move going from 5/15 minute momo (say) into prior 1hr/4hr etc s/d areas.



if you read the old threads such as NLA or Lukx or any of the other countless threads on zerolines you would find that the reason why alot of people struggled was because in many instances, price was saying to go long and short at the same time.

and thats where many people struggled and it pretty much became a gamble for many.

and as you can see from what happened with GU, the higher timeframes don't always help you out either, because the h4+ was indicating a short but the 15M was indicating a long.

that's why you need to observe what is happening and make decisions.

like i said before, i assumed the pound would drop further thats why i went short however since it stalled in that specific area and started gaining momentum, i had to bail.

the only way you can recognise these patterns and clues is through experience. and i mean months and months of staring at the charts for 12+ hours days. and pretty soon it will become second nature.

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