The ideas that I trade by:

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Jalarupa
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Re: The ideas that I trade by:

Postby Jalarupa » Mon May 30, 2016 8:27 am

Braathen wrote:Never jumped ship my friend.. was just down peeling patatoes and scrubbing the hull :D

So you said your in the trade with only 1 macro to your stop loss? B/E? take profit?
I like to enter, double fast if price is going my way.. keeping my 00 behind a large TF extreme.. then when price is moving fast/breaking out i scalp
for some lines.
If im at let say 8's i will scalp for lets say 3 maybe 4 lines then scale back out to something that keeps my position higher then a 2+ day extreme then repeat this if price picks up speed again we could do 4's for 5-6 lines then scale back out. I dont like trading at PIP$ max all the time as i get punched in the face too often doing this.

But i think this is what u suggested in the last lines of your post?


I'm currently 1 macro from B/E to my stop at 1.5% due to doubling twice...

It seems like we have the same idea, but I should really look at getting my orders out quicker... best done by dropping down to 8's as noted above... (especially for low beta or intraday trades)

Thanks for the clarity ;)
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Re: The ideas that I trade by:

Postby newark18 » Mon May 30, 2016 2:21 pm

Not that I matter but I still read this thread!
Failure is an opportunity to learn.

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Re: The ideas that I trade by:

Postby Sacrophage » Mon May 30, 2016 3:08 pm

So, if we break it down to 2 types of scaling:
1. Pre-determined scale levels & quantities or other type of rule-based scaling
2. Subjective scale levels & quantities

Type 1 takes a trade idea and lets it run to its natural conclusion. R:R on this trade is better with scaling than without, but you will not know ahead of time if your trailed SL will be ahead of or behind the S/R being built by price action after the first entry.

Type 2 allows for the "perfect" trade, but since the trader is deciding where and how to use the equity built by the first position, I see it simply as a separate trade. This seems to make the most sense when looking at weekly and monthly charts, hunting for 1000 points, and able to make the add decisions on the 4-hour or daily.

For my goal, 100% by July 1, I will be looking at shorter-term charts and type 1 scaling. The power of the MM is betting on the inevitable streak of points. The streak value may be set as desired, and the ramp schedule may utilize up to 100% of tallied profits + original risk. Together, they make up the waypoint. Given that Mighty has decreased the waypoint targets since the start of the thread, I will cap each waypoint at 20%.

I will try to categorize trades by 1) timeframe, 2) trend/counter-trend, 3) stop size, in order to get some stats on W:L, expected return, etc. Please advise any thoughts you experienced guys have - I am sure manual-trading gurus have an innate sense of these numbers that molds their decision-making. Of course, since entries are subjective, those numbers will vary from trader to trader, but expect they should fall into a range if we are all looking at similar tools (the ideas that Mighty trades by) for the entry.

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Re: The ideas that I trade by:

Postby MightyOne » Mon May 30, 2016 3:11 pm

Sacrophage wrote:
1) Thanks Mighty, yes, I understand the math. What I am wondering is whether I am doing things the most efficient way or not - since entries/adds are subjective, there is no way for me to backtest for expected return.

2) So, in this example, should I have been forcing adds? Yes, I could take a loss, but I could also take a hugely outsized profit.

3) Should I always be going for that big win?

4) It's easier to add when the waves are deeper and the move is slower, but I believe those are also the lower probability moves for generating momentum and big gains. What say you?

5) **I should restate the caveat that I'm asking for the purpose of learning the most efficient way to manually trade - you have already answered above for someone looking to make a living



1) This might change if we end up going the P&F route

2) You don't need pullbacks to add size, think of scaling in and out like adjusting a speed dial.
I would increase slightly along this macro path ---> 24, 20, 16, 12, 8, 6, 4, 3 (90 pips is 10% once you get to THREES)
increasing with the passage of the day &/or OPM.

3) I might go for a big pip gain if I have a stop at or better than any of the x's in the chart below.

EURUSDMonthly.png
EURUSDMonthly.png (22.21 KiB) Viewed 291 times


4) It is always easy to add, you just push a button :)
The relevant questions are:
a) how fast did you make money
b) how fast are you going to lose money

5) scalp lines, resize, scalp lines, ... most of the time ...
some trades targeting monthly ranges & more daring trades on small charts when you have plenty of OPM.

If you see it different then do it differently.

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Re: The ideas that I trade by:

Postby MightyOne » Mon May 30, 2016 3:57 pm

newark18 wrote:Not that I matter but I still read this thread!


Of course you matter #-o

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Re: The ideas that I trade by:

Postby thepark » Mon May 30, 2016 4:02 pm

newark18 wrote:Not that I matter but I still read this thread!


hey newark you might not remember me, but we messaged on gchat for a bit way back when. glad to see you're still on kreslik.

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Re: The ideas that I trade by:

Postby thepark » Mon May 30, 2016 4:04 pm

MightyOne wrote:
Sacrophage wrote:
1) Thanks Mighty, yes, I understand the math. What I am wondering is whether I am doing things the most efficient way or not - since entries/adds are subjective, there is no way for me to backtest for expected return.

2) So, in this example, should I have been forcing adds? Yes, I could take a loss, but I could also take a hugely outsized profit.

3) Should I always be going for that big win?

4) It's easier to add when the waves are deeper and the move is slower, but I believe those are also the lower probability moves for generating momentum and big gains. What say you?

5) **I should restate the caveat that I'm asking for the purpose of learning the most efficient way to manually trade - you have already answered above for someone looking to make a living



1) This might change if we end up going the P&F route

2) You don't need pullbacks to add size, think of scaling in and out like adjusting a speed dial.
I would increase slightly along this macro path ---> 24, 20, 16, 12, 8, 6, 4, 3 (90 pips is 10% once you get to THREES)
increasing with the passage of the day &/or OPM.

3) I might go for a big pip gain if I have a stop at or better than any of the x's in the chart below.

EURUSDMonthly.png

4) It is always easy to add, you just push a button :)
The relevant questions are:
a) how fast did you make money
b) how fast are you going to lose money

5) scalp lines, resize, scalp lines, ... most of the time ...
some trades targeting monthly ranges & more daring trades on small charts when you have plenty of OPM.

If you see it different then do it differently.


hey MO, how many hours are you trading daily nowadays?

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Re: The ideas that I trade by:

Postby MightyOne » Mon May 30, 2016 5:39 pm

thepark wrote:
hey MO, how many hours are you trading daily nowadays?


I don't know :)

The days have been really sunny and warm so I have been strolling through the park.
I usually grab a coffee, sit down in front of the computer, crack open a book, and periodically click through charts.

Saturday is where most of the work is done (sacrilege I know): looking through the long-term charts, placing alerts, determining the position sizing for each chart, etc.

I am never doing just one thing.

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Re: The ideas that I trade by:

Postby newark18 » Mon May 30, 2016 5:44 pm

thepark wrote:
newark18 wrote:Not that I matter but I still read this thread!


hey newark you might not remember me, but we messaged on gchat for a bit way back when. glad to see you're still on kreslik.


Hello! I do remember which says a lot!
Failure is an opportunity to learn.

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Re: The ideas that I trade by:

Postby PTG » Mon May 30, 2016 6:51 pm

John S. wrote:
All they have to do to be very profitable is to only understand the basics of trading and consistently do these four things:
1) if price is going up, go long
2) if price is going down, go short
3) if price goes against you, get out.
4) if price goes in your favor, stay in.

Everything else on this board, any other board, on any website, or trading marketing email is simply something designed to sell something, or feed someones ego.

Have a great weekend. :D


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