Another idea that is critical to the success of reaching a waypoint is the idea of trading
"to goals not through goals"
I know that you think that if you can blow through your target by 17% then why not do it.
You keep those larger lot sizes for those last 20 pips, you get a retracement, your size is already
at $maximum, and now you have to make the retracement (20 pips?) + 20 pips.
Had you reduced your size by a third the goal would have been 30 pips away & then 50 pips, &
finally the goal would be 33.3 pips as you add the third back in.
You saved 6.7 "big pips", that is the same is saving 53.6 "small pips".
On top of that your target is only 3.3 pips further out instead of 20
and you did not have to increase your size above the $max.
You see, as you reach the high end of your leverage you start to lose the ability to reduce the size
of your losses by adding size.
There are a number of mistakes, that seem minor, that will inhibit you from reaching a waypoint at all.
The ideas that I trade by:
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Re: The ideas that I trade by:
Braathen wrote:You dont have to reduce your unit size if you lose space.
If from a 1000$ you make it to step 1 risking 1.5% you can lose 14 times in a row before you are back at 1000$.
If you sit down and trade live and lose 14 times in a row you will learn something win win.
If you find yourself in between steps there are plenty of ways to get yourself back to step X quickly.
I would love to hear MO's idea on that btw.
I personally like to just find what % i need to get back and trade from $min to reach it.
Sometimes i am a bit ballsy and just trade like i was still in the previous trade.
Lots of fun to be had and when you fail.. learn from it
If you want to be really cautious then after two losses you can use the last waypoint with a target
that is 2/3 normal size (48 pips).
Using this:
Regression after Gain:
(% to waypoint / set pip target)Currentwaypoint = $/pip
If your account fell from $1,211.53 to $1,175.12 then you have lost about 3%
(.03 / 48)1,000 = $max of .625/pip.
After about 4.8 more losses your target will increase from 48 to 72 "big pips".
Once you are back up to $1,211.53 then your $min is $.444 and your $max is $3.559.
- Jalarupa
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Re: The ideas that I trade by:
Thanks for the math lesson MO, I'm going to excel the s**t out of this! penny starting to drop, intuition makes sense... Thanks huge help laying it out like that
Re: The ideas that I trade by:
A tick-chart BUY-ZONE option? CHECK!
EDIT: I'm working out some kinks in the code
EDIT: I'm working out some kinks in the code
Re: The ideas that I trade by:
Alright, I am satisfied...for now.
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Re: The ideas that I trade by:
I am currently working on a timer for the random price Buy-zone.
If you want a new open every 1 day, 2 hours, and 3 minutes, from a random (or non-random) price, then it will do that.
If you want a new open every 1 day, 2 hours, and 3 minutes, from a random (or non-random) price, then it will do that.
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Re: The ideas that I trade by:
MightyOne wrote:I am currently working on a timer for the random price Buy-zone.
If you want a new open every 1 day, 2 hours, and 3 minutes, from a random (or non-random) price, then it will do that.
I will randomly sit down at my charts and call it the open.
Bout 40x a day should do.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
Re: The ideas that I trade by:
I don't even want to hear what I have to say
So I'll just let the picture do the talking...
So I'll just let the picture do the talking...
Re: The ideas that I trade by:
MIDPOINTS
Left to right we have:
1) first second to 1 hour
2) first second to 1 day
3) first second to 1 week
4) would be the same as #2 so I changed it to show the mp of last month.
Hour, day, week, month.
Left to right we have:
1) first second to 1 hour
2) first second to 1 day
3) first second to 1 week
4) would be the same as #2 so I changed it to show the mp of last month.
Hour, day, week, month.
Re: The ideas that I trade by:
I should mention that all things BZ related, in this thread, are just ideas.
They are not the "ideas that I trade by" as the thread suggests.
I find that it is easier to just focus on a stop loss, risk-box, and price moving in the direction of profit.
It is mostly about MM, not entry points.
They are not the "ideas that I trade by" as the thread suggests.
I find that it is easier to just focus on a stop loss, risk-box, and price moving in the direction of profit.
It is mostly about MM, not entry points.
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