nanningbob » Sat Jan 10, 2015 10:22 pm wrote: ... I took 48 losing trades this week or almost 10 a day average. It doesnt stop me from trading and I still made a profit...

Iamshakey » Sun Jan 11, 2015 2:39 am wrote:
Hey Nidolap . . . and Grant, thank you for PM.

Basically I am afraid my explanation may be a little disappointing and unsatisfying to you guys.

I am not a very sophisticated, or technical trader. I am more the casino type. . . . high probability for trade to get into bankable pips, then take some profit (or loss). This is why over the last 8 years I have only EKED profit rather than shoveling them in. So naturally, a system like this with clear high probablility entries and bankable pips appeals to me. This is kind of like scalping for 5-10-15 pips. Takes a lot of screen time.

I have been trading the trend arrows and the range arrows the same. I don't do the RADs. When an arrow (trend or range) is printed, and in agreement with 10.4 trend condition, the price will reach the next 20 line a very very high percentage of the time. I take profit at or near the next 20 line. Sometimes if price seems to be running, get a little more. Biggest trade this week about 35Pips. Smallest win probably 1 pip. I am of the "never let a winner become a loser" school. Not that I really believe this, but I have never had the nads to do it any other way.

I manually take loss when i get either an opposite signal, or perhaps a suspicious candle. Maybe just get paranoid. Biggest loss this week I would estimate around 25Pip
I don't use stoploss or tp unless i am going to be away from screen for a while.

1. Get Signal (trend or range arrow)
2 Check for 10.4 trend condition agreement (personally I just look at matrix indie for this)
3. Enter trade immediately and shoot for next 20
4. Exit and TP when happy
5. Exit and take loss when pissed and disappointed

The REAL traders would be appalled at the pips I leave on the table doing this. I plan on doing the HGI more conventionally when my other account is cleared and I would have much more margin to play with. Hope this answer not too murky.

Thanks, Shake

Iamshakey » Sun Jan 11, 2015 3:39 am wrote:
Hey Nidolap . . . and Grant, thank you for PM.

Basically I am afraid my explanation may be a little disappointing and unsatisfying to you guys.

I am not a very sophisticated, or technical trader. I am more the casino type. . . . high probability for trade to get into bankable pips, then take some profit (or loss). This is why over the last 8 years I have only EKED profit rather than shoveling them in. So naturally, a system like this with clear high probablility entries and bankable pips appeals to me. This is kind of like scalping for 5-10-15 pips. Takes a lot of screen time.

I have been trading the trend arrows and the range arrows the same. I don't do the RADs. When an arrow (trend or range) is printed, and in agreement with 10.4 trend condition, the price will reach the next 20 line a very very high percentage of the time. I take profit at or near the next 20 line. Sometimes if price seems to be running, get a little more. Biggest trade this week about 35Pips. Smallest win probably 1 pip. I am of the "never let a winner become a loser" school. Not that I really believe this, but I have never had the nads to do it any other way.

I manually take loss when i get either an opposite signal, or perhaps a suspicious candle. Maybe just get paranoid. Biggest loss this week I would estimate around 25Pip
I don't use stoploss or tp unless i am going to be away from screen for a while.

1. Get Signal (trend or range arrow)
2 Check for 10.4 trend condition agreement (personally I just look at matrix indie for this)
3. Enter trade immediately and shoot for next 20
4. Exit and TP when happy
5. Exit and take loss when pissed and disappointed

The REAL traders would be appalled at the pips I leave on the table doing this. I plan on doing the HGI more conventionally when my other account is cleared and I would have much more margin to play with. Hope this answer not too murky.

Thanks, Shake

resclub » Sun Jan 11, 2015 12:20 am wrote:with GBP currency and especially (GBPNZD,GBPAUD,GBPJPY most volatil pairs) when you have a big arrow and enter trade, sometimes the price go against you before coming back and running in your direction ;and if you have a tight stoploss you are out most of the time.

Regards

ivanlabrie » Sun Jan 11, 2015 11:12 am wrote:Problem here would be how to decide on position size, since there is no hard stop...what's your maximum tolerated risk?
ATR channels? Historical volatility figures?

alorente » Sun Jan 11, 2015 10:19 am wrote:

ivanlabrie » Sun Jan 11, 2015 11:12 am wrote:Problem here would be how to decide on position size, since there is no hard stop...what's your maximum tolerated risk?
ATR channels? Historical volatility figures?

I use 1 standard lot per $10,000 account balance. So if my account is $50,000 I place up to 5, 1 lot trades, all different pairs. If I already have 5 trades open and I get a 6th signal, I decide whether to open the new one and if I do, I close one of the other five, This setup pretty much should keeps your drawdown low.

alorente » Sun Jan 11, 2015 8:19 pm wrote: I use 1 standard lot per $10,000 account balance. So if my account is $50,000 I place up to 5, 1 lot trades, all different pairs. If I already have 5 trades open and I get a 6th signal, I decide whether to open the new one and if I do, I close one of the other five, This setup pretty much should keeps your drawdown low.