The ideas that I trade by:

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thepark
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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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MightyOne
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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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newark18
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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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PTG
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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


=D> =D> =D> =D>
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PTG
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Re: The ideas that I trade by:

Postby PTG » Mon May 30, 2016 7:00 pm

Price is going up ? Long.

2016-05-30_2056.png
2016-05-30_2056.png (16.05 KiB) Viewed 644 times


Price going against me while long ? No me jodas, pendejo :)

2016-05-30_2201.png
2016-05-30_2201.png (14.85 KiB) Viewed 628 times
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Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Mon May 30, 2016 8:49 pm

Adding some general parameters:

Risk: 0.25 ATR in order to trade full position size - adjust size linearly based on entry/SL - size becomes 1 unit
Add size: every 0.25*ATR add 1 unit, in order to easily adjust for different timeframes

Question: Even though I am keeping my entry subjective, am I skewing risk against myself by setting these parameters in stone?

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Tue May 31, 2016 2:17 am

Marking closes didn't work very well so I thought why not include them?

After using the high/low method you look at the close to see if any points can be made; each 'x' is an area, if price closes in the area then that is a point.

Towards the end there I started marking the closing points differently to see what it would look like.

HIGH/LOW+CLOSE P&F:

GBPJPYH4_PNF.png
GBPJPYH4_PNF.png (53.77 KiB) Viewed 596 times

Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Tue May 31, 2016 3:33 am

Updating given the nice moves this Asia session, +3.2% since open yesterday between GJ, AJ, AU, EA. All directly correlated trades, which obviously will not bode well when I take losses. Also didn't trade nearly heavy enough given the number of points I pocketed.

Going to learn P&F and follow along with you, Mighty, especially since you said we may be able to be more objective with this method. Objectivity and data give me confidence!

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Tue May 31, 2016 3:42 am

Another HIGH/LOW+CLOSE PNF chart:

All the stars are points made with the closing price:

USDCADH4_PNF.png
USDCADH4_PNF.png (64.89 KiB) Viewed 583 times

Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Tue May 31, 2016 4:49 am

Goonslinger nice reaction off of the 2+ Mo high in GJ. I'm flat but waiting to play it back up... I didn't have the nutz to play it short - my fundamental biases and ivy league education cloud my eyes :lol:
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GBPJPYH1.png
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