The ideas that I trade by:

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Jalarupa
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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.

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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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Re: The ideas that I trade by:

Postby Sacrophage » Thu May 26, 2016 8:30 pm

laksh wrote: Hi Sacrophage,

MightyOne's Space money management idea has the power 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 :-)


Thanks for the encouragement Space Traveler - I will check out your thread to see what you've been up to - I just need to make the same trades I'm already making, albeit with 10X the leverage!

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Re: The ideas that I trade by:

Postby Sacrophage » Fri May 27, 2016 4:44 am

Maybe next week... on the radar...
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Re: The ideas that I trade by:

Postby Braathen » Fri May 27, 2016 10:19 am

Had some good fun doing these handmade charts this week.. keeps me engaged.
Image
Image

I may not be doing the reversels the right way but meh.. had fun !
Both drawn from the 23rd onwards.. what a diffrence.. the GJ aint even done in this pic :P

Hope everyone had a great week and laksh.. space ejaculations rock :D
"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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Re: The ideas that I trade by:

Postby MightyOne » Fri May 27, 2016 11:59 am

Braathen wrote:Had some good fun doing these handmade charts this week.. keeps me engaged.

I may not be doing the reversels the right way but meh.. had fun !
Both drawn from the 23rd onwards.. what a diffrence.. the GJ aint even done in this pic :P

Hope everyone had a great week and laksh.. space ejaculations rock :D


I can't see myself doing anything different:

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Re: The ideas that I trade by:

Postby Braathen » Fri May 27, 2016 1:30 pm

MightyOne wrote:
Braathen wrote:Had some good fun doing these handmade charts this week.. keeps me engaged.

I may not be doing the reversels the right way but meh.. had fun !
Both drawn from the 23rd onwards.. what a diffrence.. the GJ aint even done in this pic :P

Hope everyone had a great week and laksh.. space ejaculations rock :D


I can't see myself doing anything different:

for_braathen.png


Thanks for your feed back m8 :D

I think a diffrence would be that your taking x amount of boxes for profit.. adjusting and then re-entering at your "long" markings where
i am holding and adding at these marks trailing my space behind.

When you adjust from lets say 8's to 4's do you change your P&F or is that always done from a pre deteremind size?
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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Re: The ideas that I trade by:

Postby MightyOne » Fri May 27, 2016 6:26 pm

Braathen wrote:
Thanks for your feedback m8 :D

I think a diffrence would be that you're taking x amount of boxes for profit.. adjusting and then re-entering at your "long" markings where
i am holding and adding at these marks trailing my space behind.

When you adjust from lets say 8's to 4's do you change your P&F or is that always done from a pre deteremind size?


I space the lines so that 16 - 24 of them will equal the weekly median range and I use the high/low of an H3/H4 chart to mark the points.

You do not need to resize your chart, simply line up the "PriceEntry" of the EIGHTS indicator with one of the lines of your P&F chart and trade based on triggers using a small candle chart.

I think that the high/low method is better used on larger charts where the data is already highly compressed.

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Re: The ideas that I trade by:

Postby laksh » Fri May 27, 2016 7:04 pm

Just for guilty fun, I opened a sub trading account with play monies (made a typo with the deposit in GBP, so it came to $465 instead of $500!)

The only goal of this experiment is to achieve a win rate of 90%+ after 10000 manual trades irrespective of equity growth and see if the account growth will still be positive or negative!

Conventional trading wisdom is NOT followed to trade this account. Account is traded mainly on Mobile phone looking at quote list / ticks whilst waiting in a queue in shops/cafes etc.. Max stop loss is 25 pips but kill the trade within 10 pips of loss and TP is a pip or two or whatever!!

Lev - 1:30, will tweak it up to 1:60.

Any projections/comments ??? :-)

2_weeks.PNG
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P.S: Pip count is misleading due to a trade of DAX (GER_30) that shows 9 points as 900 pips :-)

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