Was, for a couple of weeks, Oanda and CMC now.
5 Golden Rules of Trading
- Thread starter mark04
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Was, for a couple of weeks, Oanda and CMC now.
Quote from davidmaria1:
Algos.
That's whats-his-names dog from Greek mythology?
Argo?
Ok, maybe the last post confused you a bit.
Pippi, what stops are you using if you think 45 pips is too much for the market to go against a trade?
And why would trade size affect where you put your stop, shouldn't it be the other way round?
(ps the eur trade did ok though!)
If i did not misunderstood (sorry if i did, i am Italian) davidmaria1 mentioned Greek mythology and dog when talking about algos (short for algorithms).
Perhaps he meant Argo (?), see for instance:
http://ancienthistory.about.com/od/odyssey1/ss/062508POdyssey_9.htm
I believe that algorithmic trading (and autotrading) is no stranger to the forex traders of this forum. Is it ?
____________________
Tom
My <a href="http://www.datatime.eu/public/gbot/2009Oct19/default.htm" target="_blank">auto trading</a> journal
)Quote from cabletrader:
Ok, maybe the last post confused you a bit.
Pippi, what stops are you using if you think 45 pips is too much for the market to go against a trade?
And why would trade size affect where you put your stop, shouldn't it be the other way round?
(ps the eur trade did ok though!)
I didn't think the stop distance per se was odd, rather the drawdown you are willing to take in a position in relation to your usually small gains. Wide stops/bad RR means small tradesize to me. But if its all part of a bigger plan like you say, i guess there is no point in looking at this trade in isolation.
"bad RR", I didn't know there was such a thing apart from on paper.
There's risk, which obviously has to be limited, and there's reward. As long as gains exceed losses overall then where's the problem?
Sure, academics will tell you all about the mathematical theories behind risk:reward and expectancy, it sounds impressive and logical but in practical trading terms it don't mean diddly.
Everyone's an expert until it comes to putting theory into practice and making some money, that's when it all falls apart!
ps the actual risk on that position was less than zero.