Heads and Tails "Experiment" will it work...?

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4xPIPAHOLIC
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Re: Heads and Tails "Experiment" will it work...?

Post by 4xPIPAHOLIC »

andrewcz wrote:im also interested in this topic and hence are going to provide some advice on how to frame it.

this is not quite as simple as just a heads and tails argument as risk in itself has more parameters that should be discussed.

so in a trade there is -

an entry

an exit

a size of a position

now essentially in a heads or tails argument you have 2 choices..lets for argument sake say you take the position of a trend so what ever the last candle happens to be.


now what the key here is ....is the stop loss calculation in comparison to your leverage and position size relative to your overall amount trading...

this is the key factor....so i suggest a calculation based on volatility and of some sort to organise the position..and hence make it dynamic on a couple of pairs in order to have a choice...

to volatile and a large stop loss and were finished....

thoughts all:):)?......

Hi andrewcz........thank you for your interest in the thread....

I agree with you 100%........I am trading 1 lot since we have a balance of $73000 witch is logical...and conservative....I know that the value of EUR/GBP is higher on 1 lot than the EUR/USD.....but since I am trading conservative I figured to concentrate for the moment on the MM(SL.....or multiple SL'S) for now....but you are very welcome if you want to implement that ideal for position sizing .....

Also for the volatility of each pair I am using the ATR at the moment (as a starting point) I am open to ideas...... :D
The hardest thing for me to learn in forex.....is to sit on my ass and do nothing....
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4xPIPAHOLIC
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Re: Heads and Tails "Experiment" will it work...?

Post by 4xPIPAHOLIC »

Now if you all noticed I added the weekly and monthly pivot on my recent charts......

Now the only thing we cannot touch is the way we pick the direction........but anything else that can effect the outcome we can....

like lets say that "if it was time to flip now" and tails would show....we can take a full position since LONG is above the pivots.....if it would show short we would take half a position.....(somrthing like andrewcz suggested if I got it right).......

seeeee 2 brains is better than 1...... this is starting to get interesting..... :D
The hardest thing for me to learn in forex.....is to sit on my ass and do nothing....
mrpipstrader
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Post by mrpipstrader »

Hi 4xP,

I'm following this thread with much interest.

Having traded stocks, options, etc for many years with only moderate success, I've concluded that a clear money management process is the only way to create proper emotionless trading. If you haven't got MM right before you place your trade, you're substantially reducing your chance of long term success.

Reminds me a bit of the professional card counter at the casino - only stay in or increase your bets when you know that the hand you hold is a winner.

Keep up the good work.
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4xPIPAHOLIC
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Re: Heads and Tails "Experiment" will it work...?

Post by 4xPIPAHOLIC »

Hi mrpipstrader......welcome to the thread!

Thank you for your interest and the encouraging words.......

If you have any ideas don't be shy.......something small can turn in to something big......it always has :)
The hardest thing for me to learn in forex.....is to sit on my ass and do nothing....
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4xPIPAHOLIC
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Re: Heads and Tails "Experiment" will it work...?

Post by 4xPIPAHOLIC »

Ok........We are moving nicely and as we can see E/U did BOUCE nicely :D of the weekly pivot and came in our direction.......

For now the trades are positive .......and moving nicely......

Here is the chart of the E/U .......
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The hardest thing for me to learn in forex.....is to sit on my ass and do nothing....
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4xPIPAHOLIC
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Re: Heads and Tails "Experiment" will it work...?

Post by 4xPIPAHOLIC »

and here is EUR/GBP witch held stronger during the Asian session......good indication that it want to head north.....
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4xPIPAHOLIC
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Re: Heads and Tails "Experiment" will it work...?

Post by 4xPIPAHOLIC »

Hello everyone!!!

In this game you need patience.. :roll: ......as long as it is in the right direction .......we wait......

its doing its roller coaster moves... :lol:
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Re: Heads and Tails "Experiment" will it work...?

Post by 4xPIPAHOLIC »

EUR/GBP has pulled back.......zzzzzzzzzzzzzzzzzzzzzzzzzz
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Re: Heads and Tails "Experiment" will it work...?

Post by 4xPIPAHOLIC »

OKKKK.......we are in the right direction AND our EA took partial profit :D (40%/$338.00) at 1 ATR.....on the EUR/USD and brought our stop to BE....so now we have no risk on that trade.....let it ride.....

Now I am going to modify just one bit the 3rd TP.......on the second take profit witch will be at 2ATR the EA will close 30% of the trade....now the last 30% that will be left I am not going to close it at 3ATR.....I am going to let it ride......what I am going to do is trail the stop by 2 ATR'S......till the price action takes me out........ 8-)
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4xPIPAHOLIC
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Re: Heads and Tails "Experiment" will it work...?

Post by 4xPIPAHOLIC »

Here we have the EUR/GBP witch has hit the WR (weekly resistance) but is very very close on taking the first profit.....lets see....
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