The ideas that I trade by:

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Pro Trader
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EN Long

Postby Pro Trader » Tue Oct 13, 2015 9:28 pm

EN

Before:

2015-10-12 EN Long D1.png
2015-10-12 EN Long D1.png (29.51 KiB) Viewed 394 times


After:

2015-10-13 EN Long D1.png
2015-10-13 EN Long D1.png (29.68 KiB) Viewed 394 times


I'm using 50 pips as my buy/sell zone from a 2DX. Working well so far.

EC

Before:

2015-10-11 EC Long D1 v01.png
2015-10-11 EC Long D1 v01.png (28.64 KiB) Viewed 394 times


After:

2015-10-13 EC Long D1.png
2015-10-13 EC Long D1.png (31.13 KiB) Viewed 394 times

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dojirock
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Re: The ideas that I trade by:

Postby dojirock » Wed Oct 14, 2015 4:40 am

Hi Mo,

Charts are for illustration for clarification. ( I know its not meant for this tight of trade, just an example)

1st pic...I entered short, 2 lots, risking $103/ 5 pips. That signifies 100 percent of my space for this example.
Now that I have watched it happen, I see I screwed up. The second entry should have been 2 lots also.
Because I used 4 lots I see my $103 risk was now less than 2 pips away and I would have destroyed my space instantly?
But lets say it didnt move up at all and I did enter at 2 lots for the 2nd entry. It then depletes 1/2 my space due to my risk would still be $103 but im in a higher postion size so there is 50 percent less space?
If it continued down and hit my 3rd position, then the current 50 percent line to the 3rd position would be fibbed out at the 50percent of that range to give me my new space.

ugn...let me start again...last pic... with corrected numbers.
2lots + 2Lots = breakeven at 50 percent+ my $103 space
Price continues down and I add 4lots which moves my BE to 50percent of current position before 3rd addition and current price (see pic) +$103 space

Light bulb moment.... Your saying after my initial entry, risking $100 if price didnt hit my 2nd position and came back against me I could drop a lot(because I started with 2) and my SL would go from 5 to 10 pips with the same $100 risk amount... thus instead of $20 per pip, with increased space and $10 per pip? Giving me 5 more pips of Longevity!!!!!

im not going to celebrate yet....

doji
2015-10-14_0011.png
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2015-10-14_0013.png
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2015-10-14_0034.png
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"A small loss is just as satisfying as a large gain" -MO
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dojirock
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Re: The ideas that I trade by:

Postby dojirock » Wed Oct 14, 2015 4:54 am

If I wanted a 50 pips space block then my trades would be:

$100 / 50 = $2.00 per pip.
If I lost a 10 pip trade then I would only have 40 pips of space left my options are now:
$100/ 40 = $2.00 per pip next trade, because I only have $80 left.
or
$100-$20 from my 1st loss=$80 / 50 = $1.60 per pip on my next trade. Would reinflate my space
from 40 back to 50?

doji
"A small loss is just as satisfying as a large gain" -MO

"Sometimes we need to stop learning and start thinking...."

"Once you stack, you'll never go back!"

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Re: The ideas that I trade by:

Postby dojirock » Wed Oct 14, 2015 5:04 am

By the way, I just got stopped out because I created "Blackhole" negetive space X4 by doing it completely wrong.

Laugh_Smile
"A small loss is just as satisfying as a large gain" -MO

"Sometimes we need to stop learning and start thinking...."

"Once you stack, you'll never go back!"

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Re: The ideas that I trade by:

Postby MightyOne » Wed Oct 14, 2015 11:01 am

dojirock wrote:If I wanted a 50 pips space block then my trades would be:

$100 / 50 = $2.00 per pip.
If I lost a 10 pip trade then I would only have 40 pips of space left my options are now:
$100/ 40 = $2.00 per pip next trade, because I only have $80 left.
or
$100-$20 from my 1st loss=$80 / 50 = $1.60 per pip on my next trade. Would reinflate my space
from 40 back to 50?

doji


Yes, (2/1.6) would increase your space from 40 to 50 pip.

If you were scaling in then you would divide your initial size by 4 and enter a trade for $0.50/pip;
a 10 pip loss would then be -2.5 space: (.5/2) * 10.

For your second entry you would increase your size to $1 and move your stop 10 pips from the average price;
this could be higher or lower depending on whether you averaged up or down. Your risk is now (1/2) * 10 or -5 space.

For your third entry you would increase your size to $2 and again move your stop to 10 pips from the average.
Your risk is now (2/2) * 10 or -10 space.

Now you move to the accumulation phase:

If you believe that you can trail your stop closer to the current price then you increase your size to $4 then $8 & finally $16, halving
your space each time thus "trailing" your stop; though rarely do you accomplish all of this without multiple exits and re-entries.

Don't get scaling and accumulation mixed up, scaling adds up to a single unit where as accumulation adds units together...
one is a fraction of total risk where as the other is always equal to total risk.

If 5 pips is your smallest stop loss then 20 to 25 pips is your largest space.

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Re: The ideas that I trade by:

Postby MightyOne » Wed Oct 14, 2015 11:17 am

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Re: The ideas that I trade by:

Postby MightyOne » Wed Oct 14, 2015 11:28 am

Scaling...

If I lose 40 pips at 1/4 of 1 unit then I lose 10 space.
If I lose 40 pips at 1/2 of 1 unit then I lose 20 space.
If I lose 40 pips at 1/1 of 1 unit then I lose 40 space.

Personally I prefer to just get it all out there and lock in pips below the extreme,
but in situations like this, where I don't have a body in the direction of profit, I might
scale in...I usually do not :lol:

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Re: The ideas that I trade by:

Postby MightyOne » Wed Oct 14, 2015 2:01 pm

jrtrading wrote:
Sometimes I find that multiple exits and re-entries on smaller charts eat of the profits because of spread.
Can I ask if this is something you also consider and are conscious about?
Perhaps better to hold if only small profit etc.
Thanks for any reply.


The spread is not something that you pay, it is the price that you agree to transact at.

But let's say that you were being charged the spread... :shock:
...multiple exits would eat away at your space & you would reduce
your position size to recover.

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Re: The ideas that I trade by:

Postby jrtrading » Wed Oct 14, 2015 2:10 pm

MightyOne wrote:
jrtrading wrote:
Sometimes I find that multiple exits and re-entries on smaller charts eat of the profits because of spread.
Can I ask if this is something you also consider and are conscious about?
Perhaps better to hold if only small profit etc.
Thanks for any reply.


The spread is not something that you pay, it is the price that you agree to transact at.

But let's say that you were being charged the spread... :shock:
...multiple exits would eat away at your space & you would reduce
your position size to recover.


Thanks MO!
That is what I do now, reducing position size due to spread. Again thanks.

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Re: The ideas that I trade by:

Postby MightyOne » Wed Oct 14, 2015 4:15 pm

One always finds the cone first & then considers and cuts away breakouts BEFORE
carving out channels.

The angles are always "magical" 15 degree angles.

USDJPYecnH4.png
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