"Just Oil"

Chikot posted:
I was thinking that trading with no hard stop might have sense. The leverage obviously has to be kept lower and trade should be closed at loss only when signal is given that trend reversed. The logic is simple, if I start looking for trade in one direction after I have a signal then it also should be a signal to close trade at at loss. otherwise trades might get stopped and whipsawed leading to more losses than needed.
All in all I will open 2 accounts and trade one same way i trade now and second will be with smaller position size per trade but hard stop only for catastrophic loss if something unexpected happens and in all other cases whatever signal made me starting looking for trade will take me out of trade gone against me.
The rest will be the same. The difference is smaller size per pip and no hard stop (except far catastrophic stop) and stop on opposite signal.

stevewalker posted:
that is the correct way.
I ahd tested that with coding and manually,

here are the results.
by coding profits getting lover while system is wating for exit signal. mechanical. most of the time closing with loss instead of profit.

by manuallly,
when you make correct desecions it gives great results. and you can double your account, but if not you can half your account.
the issue is the desecion you take is doubling with that system. and the worst scenario is making wrong desecins on both entry&exit

walker

Chikot posted:
I was thinking that trading with no hard stop might have sense. The leverage obviously has to be kept lower and trade should be closed at loss only when signal is given that trend reversed. The logic is simple, if I start looking for trade in one direction after I have a signal then it also should be a signal to close trade at at loss. otherwise trades might get stopped and whipsawed leading to more losses than needed.
All in all I will open 2 accounts and trade one same way i trade now and second will be with smaller position size per trade but hard stop only for catastrophic loss if something unexpected happens and in all other cases whatever signal made me starting looking for trade will take me out of trade gone against me.
The rest will be the same. The difference is smaller size per pip and no hard stop (except far catastrophic stop) and stop on opposite signal.

Chikot posted:

stevewalker posted:
that is the correct way.
I ahd tested that with coding and manually,

here are the results.
by coding profits getting lover while system is wating for exit signal. mechanical. most of the time closing with loss instead of profit.

by manuallly,
when you make correct desecions it gives great results. and you can double your account, but if not you can half your account.
the issue is the desecion you take is doubling with that system. and the worst scenario is making wrong desecins on both entry&exit

walker

Chikot posted:
I was thinking that trading with no hard stop might have sense. The leverage obviously has to be kept lower and trade should be closed at loss only when signal is given that trend reversed. The logic is simple, if I start looking for trade in one direction after I have a signal then it also should be a signal to close trade at at loss. otherwise trades might get stopped and whipsawed leading to more losses than needed.
All in all I will open 2 accounts and trade one same way i trade now and second will be with smaller position size per trade but hard stop only for catastrophic loss if something unexpected happens and in all other cases whatever signal made me starting looking for trade will take me out of trade gone against me.
The rest will be the same. The difference is smaller size per pip and no hard stop (except far catastrophic stop) and stop on opposite signal.

There are three keys here:
1. Low leverage. Lower than usually
2. Close at loss when signal given
3. Let profits run
4. Good trade / Money management which is discretional part.
5. preferably good entry

minosd777 posted:
Yes i know my loses are problematic, but you have to know that i opened the account in the beginning of the year, then i opened a few positions without looking at them again for some time..thats why i lost almost 9% at the beginning of may, but since then i handled the account daily and i managed to turn things around. The reason for my negative pips is that i close my losing position in several times, so a 100 pips loss closed in 5 times becomes 500 pips loss, not so pretty to look at :) Anyway I'm working on the MM part too, I lose too many little trades too, like Walker says it's difficult sometimes not to trade every day...trading is like hunting, you can not run around shooting on everything that moves..one day you will shoot in your foot and that will hurt :)

I notice that you have a lot of Winners, but when you have losses they are very big..it's the complete opposite of my trading :D

How long have you been trading FX?

Good luck next week!

mino

minosd777 posted:
Yes i know my loses are problematic, but you have to know that i opened the account in the beginning of the year, then i opened a few positions without looking at them again for some time..thats why i lost almost 9% at the beginning of may, but since then i handled the account daily and i managed to turn things around. The reason for my negative pips is that i close my losing position in several times, so a 100 pips loss closed in 5 times becomes 500 pips loss, not so pretty to look at :) Anyway I'm working on the MM part too, I lose too many little trades too, like Walker says it's difficult sometimes not to trade every day...trading is like hunting, you can not run around shooting on everything that moves..one day you will shoot in your foot and that will hurt :)

I notice that you have a lot of Winners, but when you have losses they are very big..it's the complete opposite of my trading :D

How long have you been trading FX?

Good luck next week!

mino

stevewalker posted:
BTW

please understand that leverage or Lot size has no effect on your trades unless you,
- stay in margin level
- manage your money with your win/loss frequency


those 2 parameters has effect on cost nothing else.

walker

minosd777 posted:
Yes i know my loses are problematic, but you have to know that i opened the account in the beginning of the year, then i opened a few positions without looking at them again for some time..thats why i lost almost 9% at the beginning of may, but since then i handled the account daily and i managed to turn things around. The reason for my negative pips is that i close my losing position in several times, so a 100 pips loss closed in 5 times becomes 500 pips loss, not so pretty to look at :) Anyway I'm working on the MM part too, I lose too many little trades too, like Walker says it's difficult sometimes not to trade every day...trading is like hunting, you can not run around shooting on everything that moves..one day you will shoot in your foot and that will hurt :)

I notice that you have a lot of Winners, but when you have losses they are very big..it's the complete opposite of my trading :D

How long have you been trading FX?

Good luck next week!

mino

Chikot posted:

stevewalker posted:
BTW

please understand that leverage or Lot size has no effect on your trades unless you,
- stay in margin level
- manage your money with your win/loss frequency


those 2 parameters has effect on cost nothing else.

walker

position size has influence upon DD. when you manage OPM you gotta have things in this regard under control, again, anything is possible. Remember May 6 , 2010? I went to appointment in the morning with market doing generally nothing special, I came back to see 700-1000 pips drop. Just an example. But overall trading with no hard stop requires far smaller position sizing.

stevewalker posted:
thats are hard stops for.

last night I understand something.
as market do, traders has also a win/loss frequency. after 2-3 months of test accounts roughly I found my frequency.
"- manage your money with your win/loss frequency"

when this known, trader can stay in margin level with reasonable %DD with higher lot size.

Chikot posted:

stevewalker posted:
BTW

please understand that leverage or Lot size has no effect on your trades unless you,
- stay in margin level
- manage your money with your win/loss frequency


those 2 parameters has effect on cost nothing else.

walker

position size has influence upon DD. when you manage OPM you gotta have things in this regard under control, again, anything is possible. Remember May 6 , 2010? I went to appointment in the morning with market doing generally nothing special, I came back to see 700-1000 pips drop. Just an example. But overall trading with no hard stop requires far smaller position sizing.

minosd777 posted:
Yes just like you say : i close my losers in small increments and lately i have a lot of losers :p. In the future i will evolve more to a system where i take my losers in one time and very quick.

I'm not such a trend trader, i love to open and close positions and to find new ones...the reason i'm in positive is that i very agressively play the trades in which I believe...like the Euro trend down from may, the GAPS we have seen lately, I love to trade the EUR/YEN too. When i see something i like ( eg with a good R/R) then i shoot with the bazooka to maximize damage->profitability.

About the stops on my open trades: my EUR/$ short has a stop, the $/Yen not because i plan to increase my position to average my sell price..I now it's a very risky strategy to add to a losing position, but the $/Yen just has to come down...it's happens every time again..plus we are here to learn and experiment :)

I don't use EA's, don't follow anybody ( that's the worse thing you can do), only use technical analyses, fundamental (FOREXLIVE.COM is the best forex site on the internet with good and free info, almost in real time). On the basis of both i scrutinize the horizon to find a good trade to take...I'm still mad at myself to miss the SHORT on the AUD/$ trade on friday, it's was an obvious SHORT on the DAILY resistance line with a good R/R..stop on 70-80 pips and profit 150-200 pips lower, instead i BUYED the support of the broken Daily resistance trend line.

I like your GBP/AUD alot! shorted that too, but lost faith...Your AUD/YEN buys are very good too, the NZD also...i look forward at what you will do next week ;)

mino