The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu May 26, 2016 3:38 pm

Could probably just make a P&F CC that attaches itself to the H4 open...
I have to give this a bit more thought. #-o

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Re: The ideas that I trade by:

Postby MightyOne » Thu May 26, 2016 4:14 pm

Sacrophage wrote:
MightyOne wrote: Who says that you cannot become a "chart wizard" overnight? =D> :smt023


I was here at the beginning - so long ago I forgot my username so I started a new acct. Like most, I lost a ton in the beginning - so, I turned to automated trading only - wrote hundreds of EA's over the years - some work very well, but if you watch them run you can see many mistakes that they make - and it is very difficult to code in all of what the eye can plainly see.

So, I am back at trying my hand at manual trading as well and figured I'd drop in on you guys. Amazing stuff you've all been doing.

I opened an account just for manual trading - goal is 100% by July 1st. Need to get comfy with larger lot sizes if I am to succeed - have trouble trading big - my best EA's run on tick charts so watching the float on a manual position is relatively new to me. Any suggestions appreciated - also, do you guys still hang out in a chat room during trading hours? Manual trading is lonely.


I would aim for 100% in 5 weeks, about +60 lines per week or +12 lines per day (3 lines = 1%).

You don't really need a large lot size to reach your goal, just narrow the spacing of the lines a bit as you gain OPM.

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Jalarupa
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Re: The ideas that I trade by:

Postby Jalarupa » Thu May 26, 2016 4:31 pm

So I've been playing around with the possibility of trading these trendlines whilst I'm away from the PC...

Using this EA (http://www.forexfactory.com/showthread.php?t=297607) V37 and FX Synergy... I can manage trades whilst I sleep...

I have created a taste of things to come when Synergy launch their updated version in the coming months...

I have been Killing the Aussie Crosses with this combo this week...

Image

Trading just might get boring...:P
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Thu May 26, 2016 4:38 pm

MightyOne wrote: I would aim for 100% in 5 weeks, about +60 lines per week or +12 lines per day (3 lines = 1%).

You don't really need a large lot size to reach your goal, just narrow the spacing of the lines a bit as you gain OPM.


Haha 4:1 for me is absolutely huge - need to force myself to do it.

What would potentially make it easier is some idea of expected win - I am writing an EA to test this (based on my first post), but since entries/adds are subjective, it will not give me a clear picture. Do you have a handle on how many false starts you get on average before hitting a full winner (3.5 entries)? Also, what does the variance look like - i.e. is it worth ramping up your volume because you have had X # of false starts... Of course this is trader-dependent, but hoping it falls into some statistical range for each trader over time.

Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Thu May 26, 2016 4:54 pm

Jalarupa wrote:Trading just might get boring...:P


Deciding on the trendlines to trade off of is the hard part!

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Re: The ideas that I trade by:

Postby Jalarupa » Thu May 26, 2016 5:04 pm

Sacrophage wrote:
Jalarupa wrote:Trading just might get boring...:P


Deciding on the trendlines to trade off of is the hard part!


You can't go wrong if you trading off of high time frame extremes... ;)

Always consider the bigger picture first... Let that guide your decision making...

Then have fun with it...

[EDIT]

A little higher time frame confluence can do wonders for your conviction...

Image
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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Re: The ideas that I trade by:

Postby MightyOne » Thu May 26, 2016 6:01 pm

Sacrophage wrote:
MightyOne wrote: I would aim for 100% in 5 weeks, about +60 lines per week or +12 lines per day (3 lines = 1%).

You don't really need a large lot size to reach your goal, just narrow the spacing of the lines a bit as you gain OPM.


Haha 4:1 for me is absolutely huge - need to force myself to do it.

What would potentially make it easier is some idea of expected win - I am writing an EA to test this (based on my first post), but since entries/adds are subjective, it will not give me a clear picture. Do you have a handle on how many false starts you get on average before hitting a full winner (3.5 entries)? Also, what does the variance look like - i.e. is it worth ramping up your volume because you have had X # of false starts... Of course this is trader-dependent, but hoping it falls into some statistical range for each trader over time.


Holding for 4:1 would be pretty hard wouldn't it...
but that is not what I am suggesting.

I start by risking 3 SIXTEENS (48 pips = 1%) and then I narrow to 3 TWELVES (36 pips = 1%) and so on (16, 12, 8, 6, 4, ...)
All that I am looking to do is capture a few lines here and there as if I were scalping a small chart.

At first you might make 1.5 to 2 lines and then as you narrow the spacing of the lines it will increase to 2.5 to 5 and before you know it you are at your daily target no problemo; just because you start slow that doesn't mean that you are going to end slow.

The most critical part of reaching a daily goal is to not dig yourself a large hole at the open and that is why I start wide.

You can hold for as long as you wish but most of the time you just should grab and narrow; just as a scalper grabs pips most of the time and holds occasionally.

So, yeah, 3 to 5 charts for a few lines.

P&F entries are very basic, I am sure that you know all the breakout patterns.

If there is a two box reversal (it is really a 3 box, but it looks like two) then that triggers a trade.
After you get a sizable down column (BDP) and a retrace then a single box can trigger a continuation.

Mix in a little small chart context and I am sure that you can see how easy it is to grab a few lines here and there.

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Re: The ideas that I trade by:

Postby Jalarupa » Thu May 26, 2016 6:15 pm

MightyOne wrote:
Sacrophage wrote:
MightyOne wrote: I would aim for 100% in 5 weeks, about +60 lines per week or +12 lines per day (3 lines = 1%).

You don't really need a large lot size to reach your goal, just narrow the spacing of the lines a bit as you gain OPM.


Haha 4:1 for me is absolutely huge - need to force myself to do it.

What would potentially make it easier is some idea of expected win - I am writing an EA to test this (based on my first post), but since entries/adds are subjective, it will not give me a clear picture. Do you have a handle on how many false starts you get on average before hitting a full winner (3.5 entries)? Also, what does the variance look like - i.e. is it worth ramping up your volume because you have had X # of false starts... Of course this is trader-dependent, but hoping it falls into some statistical range for each trader over time.


Holding for 4:1 would be pretty hard wouldn't it...
but that is not what I am suggesting.

I start by risking 3 SIXTEENS (48 pips = 1%) and then I narrow to 3 TWELVES (36 pips = 1%) and so on (16, 12, 8, 6, 4, ...)
All that I am looking to do is capture a few lines here and there as if I were scalping a small chart.

At first you might make 1.5 to 2 lines and then as you narrow the spacing of the lines it will increase to 2.5 to 5 and before you know it you are at your daily target no problemo; just because you start slow that doesn't mean that you are going to end slow.

The most critical part of reaching a daily goal is to not dig yourself a large hole at the open and that is why I start wide.

You can hold for as long as you wish but most of the time you just should grab and narrow; just as a scalper grabs pips most of the time and holds occasionally.

So, yeah, 3 to 5 charts for a few lines.

P&F entries are very basic, I am sure that you know all the breakout patterns.

If there is a two box reversal (it is really a 3 box, but it looks like two) then that triggers a trade.
After you get a sizable down column (BDP) and a retrace then a single box can trigger a continuation.

Mix in a little small chart context and I am sure that you can see how easy it is to grab a few lines here and there.

USDCADH4.png


Please don't take this the wrong way... but I love you MO!
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Thu May 26, 2016 6:19 pm

MightyOne wrote:
Holding for 4:1 would be pretty hard wouldn't it...
but that is not what I am suggesting.

I start by risking 3 SIXTEENS (48 pips = 1%) and then I narrow to 3 TWELVES (36 pips = 1%) and so on (16, 12, 8, 6, 4, ...)
All that I am looking to do is capture a few lines here and there as if I were scalping a small chart.

At first you might make 1.5 to 2 lines and then as you narrow the spacing of the lines it will increase to 2.5 to 5 and before you know it you are at your daily target no problemo; just because you start slow that doesn't mean that you are going to end slow.

The most critical part of reaching a daily goal is to not dig yourself a large hole at the open and that is why I start wide.

You can hold for as long as you wish but most of the time you just should grab and narrow; just as a scalper grabs pips most of the time and holds occasionally.

So, yeah, 3 to 5 charts for a few lines.

P&F entries are very basic, I am sure that you know all the breakout patterns.

If there is a two box reversal (it is really a 3 box, but it looks like two) then that triggers a trade.
After you get a sizable down column (BDP) and a retrace then a single box can trigger a continuation.

Mix in a little small chart context and I am sure that you can see how easy it is to grab a few lines here and there.


Thanks Mighty - I was starting at 8's... Afraid 16's wouldn't get me there in 5 weeks - I will start with them.

Sweet intro into P&F - I am so used to relying on expected return and seeing quick wins/losses that waiting for momentum to continue is absolutely excruciating. Just like a dog, I learn through consistency and repetition. :lol:

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Re: The ideas that I trade by:

Postby laksh » Thu May 26, 2016 7:26 pm

Sacrophage wrote: Need to get comfy with larger lot sizes if I am to succeed - have trouble trading big .


Hi Sacrophage,

MightyOne's Space money management idea has the magic to take away all the troubles with big size.

My experience: 6 Months ago I used to sweat to trade a size of $10 per pip. I started using space MM (1.5% initial risk and 21.6% way points) since January and at the current stage of my project, my $MAX_SIZE of $79 per pip feels like a pleasant walk in the park.

Even in the worst case if I take a full loss of 39 pips @ $79 per pip, all I lose is 1.5% of last way point balance.

Space MM has been such a boost to my trading psychology, when I reach a way point target it gives me mental ejaculations :-)


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