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My strategy in a nutshell

speki
Mar 25 2011 at 09:47
735 inlägg
Ok, thanks for the clarification. Pardon me if my question sounds silly: so are you trading a certain methodology or are you 'just fooling around' as the name of your (profitable) equity curve suggests. Also, I'm not too good with numbers but it does not add up: 2.0 lots trades, with 1:10 leverage, $4k account? You need $20k margin for 2.0 lots trades. You also have plus and minus big % trades. Again, sorry for asking into details, I just don't see 'the rules' you mentioned - 0.5%, 2.5% limits etc.

I ask only because you opened this new thread to discuss your stragety ...
Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Voffi (Voffi)
Mar 25 2011 at 09:52
64 inlägg
Like I mentioned earlier in this thread. That account is what its name suggests 'fooling around without position sizing' that is not my usual 0.5% max risk.
A person is only limited by the thoughts he chooses.
speki
Mar 25 2011 at 09:55
735 inlägg
I see. I'm looking forward to seeing the strategy in action possibly later then. I've heard / read good things about the J16 group, tho I'm not a member so I don't know many details. Thanks for sharing and good luck.
Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Chikot
Mar 26 2011 at 00:30
2299 inlägg
Voffi, Hi, I like your risk control rules. I wonder why are you fooling around with huge leverage on live account and good leverage on demo account.
Nothing wrong, I understand really that those wh9o cannot trade on demo cannot tard eon live but here is paradox as you actually break risk control rule son Live but follow it on demo :)
Voffi (Voffi)
Mar 26 2011 at 01:41
64 inlägg

Chikot posted:
    Voffi, Hi, I like your risk control rules. I wonder why are you fooling around with huge leverage on live account and good leverage on demo account.
Nothing wrong, I understand really that those wh9o cannot trade on demo cannot tard eon live but here is paradox as you actually break risk control rule son Live but follow it on demo :)


Good question. It's an experiment, but I named it 'fooling around without position sizing' so people wouldn't take it seriously.
But I am pending opening an account with ducascopy. That will be my main account. With max 0.50% risk on each trade. Strict risk profile.
A person is only limited by the thoughts he chooses.
Chikot
Mar 26 2011 at 11:57
2299 inlägg
I see, but it's better not to fool with size this much :) No use even to experiment cause end result is pretty much statistically assured :)
I am trying to connect MT4 account to myfxbook and just cannot get connected. myfxbook asks me for some password but I have few and each one I enter cannot activate connection.
May be you know what I am doing wrong ? :(
speki
Mar 26 2011 at 13:27
735 inlägg
'Statistically assured' LOL, this was a very diplomatic way of saying 'could get your ass kicked'.

Regarding passwords, some broker servers are closed on weekend so you won't be able to add / verify an account before market open.
Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Chikot
Mar 26 2011 at 17:35
2299 inlägg
Speki, I did it few times during this week with password I got from registration in mail section and have not been connected. the thing is that there is few passwords there and I am confused as to which one myfxbook wants.
Chikot
Mar 26 2011 at 17:40
2299 inlägg
Regarding statistically assured it is a simple truth. No use even to test. testing with 0.5% is very reasonable.
From my experience even risking 2-3% per trade can can be dangerous. On the other hand, I have been thinking that there are some moments when probability of success is higher so, risk might be also get higher. Experienced card players know when to increase size of their bet. I think it is one thing that separate average results form spectacular, when to press advantage and risk more. If usually I risk 0.5%, but I see set up that is really high probability I can risk say 2%.
I have moved to trade oil this month and trade oil exclusively. so, I see and understand there is a huge difference why currencies move and why oil moves , plus oil is a commodity. so, I am learning how determine moment when I risk just a little and when I can risk more because it is where big guys buy to run price higher or lower.
speki
Mar 26 2011 at 17:54
735 inlägg
Ah, passwords, don't tell me. I only have one complicated password so I don't have to remember many. Something like jasondonovanisthebest5555.

Hmm, not sure I get what you mean by knowing the right moment, but if you're making money with it, more powers to you. I tend to believe 'this time is never different', becoz every time I thought it was different, like: oh, look, now it's gonna break out and make me a millionaire, well, all these times I got kicked in the butt big time.
Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Chikot
Mar 26 2011 at 18:11
2299 inlägg
you mean the password that I set, or those I received form the broker?
Chikot
Mar 26 2011 at 18:14
2299 inlägg
no, break out are never high probability :) when I enter on break out, I usually risk very little and move stop to BE immediately as soon as I am in profit. it is fading accumulation/ distribution areas where there is high probability. anyway, it is too early to say anything. i need to trade 2-3 more months to have some idea.
Chikot
Mar 26 2011 at 18:17
2299 inlägg
after all oil is different from currencies. it is another marker, but what I find interesting after trading currencies it appears I can actually trade oil 😲
speki
Mar 26 2011 at 18:29
735 inlägg
I haven't the foggiest about your passwords, you can change them in MT4 somewhere hidden in the Options menu. I set my passwords immediately to the same long thing so I don't have to remember many.

To be honest, yeah, gold is a safe haven, oil can be sensitive to any news containing the word 'arab', the yen goes berserk when US yields move, but after all, the market is the market... everything is correlated to everything, I've read that someone found a strong correlation between Microsoft stocks and the previous day's temperature in Jakarta... what I mean is, I reckon if someone finds a trading methodology which works in one market, they would surely find a way to pull money out of another market. The question is which market suits your personality and daily routine. The charts are all the same, up and down like a prostitute's underwear ...
Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Chikot
Mar 26 2011 at 20:00
2299 inlägg
'The question is which market suits your personality and daily routine. The charts are all the same, up and down like a prostitute's underwear'
It is very true. I found it myself as my schedule and time available to trade changed at the end of December 2010.
It became increasingly hard to trade Forex. Thankfully, I found out that oil can be traded like currencies on MT4 and after watching it for a couple of months I noticed that oil perfectly suits my schedule and is very good for day trading purposes.
I am watching only oil now and learning.
James_Bond
Mar 27 2011 at 08:36
556 inlägg
To avoid the differences between brokers, one should ignore the timing of the trades, and use high and lows of candles instead the open-close.

I think in such way, the charts will be identical, only displaced, according to the time difference between brokers.
Torstein
Mar 31 2011 at 10:32
13 inlägg
'When I trade, I am constantly reviewing my thoughts. Analyzing what I'm thinking and why I'm thinking it. This helps me tremendously in staying focused and keeping my emotions effecting my decisions'

clever attitude, keep it up !!
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