The ideas that I trade by:

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MightyOne
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Postby MightyOne » Fri Sep 14, 2012 1:01 pm

Braathen wrote:Yeah its pretty nice action.

I managed to get 4/6 yesterday at 1.2879 (came right back at
my space and the 1.2875)
I closed this out just before the 1.3000 and was looking for an entry
this morning (EU time) but after having no patience yesterday i thought id have some today and wait for something i liked..
hehe.. just watched it go up :D ahh well.. an amazing week for me non the less.

Cheers MO


Where would your position be if your action was 6/1?

Even if you have 10 pips of space left (6/1) * 10 = 60 pips.

The real question that I am asking is whether or not you need
infinite space (liquidation) and if that is too extreme (it is) then
how many lots should you liquidate when things are not working?

I am not saying that you should always have eternals (lots you never liquidate), just that you might want to consider reducing your position
at least until you have time to think about what you should do next.

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Braathen
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Postby Braathen » Sun Sep 16, 2012 10:57 am

MightyOne wrote:
Braathen wrote:Yeah its pretty nice action.

I managed to get 4/6 yesterday at 1.2879 (came right back at
my space and the 1.2875)
I closed this out just before the 1.3000 and was looking for an entry
this morning (EU time) but after having no patience yesterday i thought id have some today and wait for something i liked..
hehe.. just watched it go up :D ahh well.. an amazing week for me non the less.

Cheers MO


Where would your position be if your action was 6/1?

Even if you have 10 pips of space left (6/1) * 10 = 60 pips.

The real question that I am asking is whether or not you need
infinite space (liquidation) and if that is too extreme (it is) then
how many lots should you liquidate when things are not working?

I am not saying that you should always have eternals (lots you never liquidate), just that you might want to consider reducing your position
at least until you have time to think about what you should do next.


This is exactly what i should have been thinking.
I let it go to far into me because i wanted to keep my lot size
bigish. If my idea was for it to stay above something
i could have easily shedded and not taken the hit, maybe
folding it when it started going towards ´CZ1
(was a tough one to do it with i think as it moved so fast the first time around)

Im so very greatfull for your efforts to help /salute
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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PebbleTrader
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Postby PebbleTrader » Sun Sep 16, 2012 1:04 pm

It depends, sometimes it is clear that you are wrong and is best to go flat because that may be the best price to exit at or it could tie up a position for many days unless you have multiple accounts...
Life is just a journey

Neo88
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Postby Neo88 » Mon Sep 17, 2012 10:26 am

MightyOne wrote: I was hoping for a better retrace on the weekly as that would have helped
get the lot count up but this move is ok with me :wink:


Me too :)
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Neo88
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Postby Neo88 » Mon Sep 17, 2012 10:51 am

I have a question about space; MO or anyone else is welcomed to answer

Let say I have a position with 150pips space and price move 50pips in my way now I want to set a partial stop at 25% the space while maintaining the same dollar risk...so if price go against me 50pips I get stoped but still have my initial position (of course now with a lower lot size)

The question is how to calculate how many lots I should add ?
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Postby Neo88 » Mon Sep 17, 2012 10:57 am

I worked on some Excel spreadsheet but I am still confused :!: I want to make sure .
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MightyOne
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Postby MightyOne » Mon Sep 17, 2012 6:34 pm

What is happening is that you're exchanging space for lots.

In your case you have 200 pips:

Lets say that you increase your lots from 5 to 8:

(five / eight) * 200 = 125 pips from the current price

you then place a stop at -50 which, when hit, will increase your space to your preferred space of 150:
125 - 50 = 75
so your partial stop is 4 lots --> (8/4) * 75 = 150

Neo88
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Postby Neo88 » Mon Sep 17, 2012 8:20 pm

Thanks MO, do you use a spreadsheet ?
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Postby MightyOne » Mon Sep 17, 2012 8:59 pm

Neo88 wrote:Thanks MO, do you use a spreadsheet ?


I sure don't :lol:

I currently use small Python scripts to answer certain questions.

Later, when I finish my courses at the O'reilly School of Technology,
I want to program my own trading software for Linux.

Neo88
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Postby Neo88 » Mon Sep 17, 2012 9:18 pm

MightyOne wrote:
I sure don't :lol:

I currently use small Python scripts to answer certain questions.

Later, when I finish my courses at the O'reilly School of Technology,
I want to program my own trading software for Linux.


I don't find it practical to go through all the math every time I try to adjust my position so I use something like the attached spreadsheet

I will write one for calculating several partial stops when I get my head around it :)
Attachments
RiskMan.xls
(29 KiB) Downloaded 100 times
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