Eclectic

Quote from bozwood:

some other questions if, hopefully, you don't mind?

I have put in quite a bit of time reading your posts so I understand how you are looking at things, but just trying to understand a few of the intricacies of what you do.

Looking at the GC and euro trades ( I believe I understand the entries):

both have a similar formation, but the initial stop for GC is further away than the initial stop for the euro (based on the charts, not necessarily $ wise). Is that because the euro is stronger on a weekly and/or basis and therefore needs less room?

Also, I assume you are using the weekly as longer term and trading off the daily chart, correct? If so, when you put on a trade in the daily timeframe are you attempting to take "chunks" out of the weekly trend as long as it's in place by moving the stop aggressively or are you trying to stay in as long as the weekly is moving in your direction by keeping the stop somewhat "loose?"

thanks for your time.
boz
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All trades are chart based and then I adjust position size to how much I want to risk on that particular trade. You are correct that I am using weekly and daily the way you say, however these recent trades were made on the 240. As far as whether one trend is stronger than the other, I don't calculate that. That becomes too subjective. I merely look at price and position size. --:)
 
08-07-09 07:43 AM

08-06-09 01:59 PM

08-05-09 08:52 AM

07-31-09 08:30 AM

Long 15 Oct Sugar @18.56

Initial stop @ 16.34

--Sell stop moved upwards to 18.37. Current price is 19.40 (08/05/2009)--
--Staying put here this Thursday Morning. Current price is 19.74 (08/06/2009)--
--Staying put here Fri morning. Current price is 20.23 (08/07/2009)--
--Sell stop moved up to 18.94. (08/12/2009)--
 
Quote from Buy1Sell2:

All trades are chart based and then I adjust position size to how much I want to risk on that particular trade. You are correct that I am using weekly and daily the way you say, however these recent trades were made on the 240. As far as whether one trend is stronger than the other, I don't calculate that. That becomes too subjective. I merely look at price and position size. --:)
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ok, thanks.

I understand the position size and how you adjust size. however, there are a few things I am not clear on (I'll stick to the GC trade).

- are you using both the daily and weekly for the higher time frame when making trades on the 240 min chart?

- the initial risk was much larger than the eventual reward. I realize you can't control the reward side, but were you looking for a much stronger run?

- are you making all your trading and stop decisions based on the 240 min chart?

- do you tend to move your stop quickly in the direction of your trade?

- if you are making them based on the 240 min chart, why was the stop so far away initially?

I'll make a stab at answering my last question: your initial stop is just a catastrophic stop which is rarely hit. based on that you tend to exit a trade well before the initial stop is hit by either moving the stop in the direction of the trade or exiting at the market if things don't look right. sound right?

thanks for your help.

boz
 
Quote from bozwood:

ok, thanks.

I understand the position size and how you adjust size. however, there are a few things I am not clear on (I'll stick to the GC trade).

- are you using both the daily and weekly for the higher time frame when making trades on the 240 min chart?

- the initial risk was much larger than the eventual reward. I realize you can't control the reward side, but were you looking for a much stronger run?

- are you making all your trading and stop decisions based on the 240 min chart?

- do you tend to move your stop quickly in the direction of your trade?

- if you are making them based on the 240 min chart, why was the stop so far away initially?

I'll make a stab at answering my last question: your initial stop is just a catastrophic stop which is rarely hit. based on that you tend to exit a trade well before the initial stop is hit by either moving the stop in the direction of the trade or exiting at the market if things don't look right. sound right?

thanks for your help.

boz
More...

Normally I don't trade anything less than the daily chart. In this instance, I just wanted to make some small term trades on the 240--basically swing trades. I used the initial stop on the daily as a catastrophic stop with the intention of moving it quickly which I did. If I would have been on the daily chart, I would still be in. --(I may get back in with smaller size on the daily).
 
Looks like the goldie got stopped out, have you taken off the EuroFX?

Im assuming the failed grail would be an exit signal?
 
Quote from Jander:

Looks like the goldie got stopped out, have you taken off the EuroFX?

Im assuming the failed grail would be an exit signal?
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Yep. euro still on though--
 
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