Ivan's Trade Thread, part II
- Thread starter Ivanovich
- Start date
I tried to demo that AI thing it was just a mess. Yes fair pricing and reasonable screwings are what I am after. So far no problems besides the occasional disconnect. Keep on posting those blotters cable, I like reading them and checking out what sucessful people do. Hopefully I will get to the point where I can post mine. I just have to concentrate and pick a time frame that suits me. I keep going back with the 15 min and 5 min. 15 min becuase I like trading off s/r using inisde bars, and 5 min for scalping. I use the s/r levels from a 60 min 240 min and daily chart so I am getting there.
Hey, all. Just a few more words on the scaling out theory. There are some traders who use 3/2 ratio. For example, 5 lots to enter, 3 at the first cover then the last 2 as runner, the runner stop would be enough to cover the commissions/spread. They apply this to all sizing, 10 lots would be 6 and 4 etc.
A word about stops, it is my opinion in a market that lacks liquidity like this one, you will see more and more spikes, if you preset a stop to a certain amount of pips, 100 or so you will likely be stopped out, and miss the eventual move. So you may have to use a technical stop, but remember that a technical stop usually will mean a higher loss, so one must use sound risk management and adjust leverage accordingly.
Track and Steve they have you right where they want you emotionally. Dan Gramza gave me some very good advice one time, and I quote, "once you are in a trade, if you have your stop and take profits placed, walk away from it, because hoping, worrying and staring at it will make no difference in the direction".
They are trying to shake the shorts, if your premise and context are still valid, don't get shaken out.
The Ever Travelling Through Time/Price VIPER
A word about stops, it is my opinion in a market that lacks liquidity like this one, you will see more and more spikes, if you preset a stop to a certain amount of pips, 100 or so you will likely be stopped out, and miss the eventual move. So you may have to use a technical stop, but remember that a technical stop usually will mean a higher loss, so one must use sound risk management and adjust leverage accordingly.
Track and Steve they have you right where they want you emotionally. Dan Gramza gave me some very good advice one time, and I quote, "once you are in a trade, if you have your stop and take profits placed, walk away from it, because hoping, worrying and staring at it will make no difference in the direction".
They are trying to shake the shorts, if your premise and context are still valid, don't get shaken out.
The Ever Travelling Through Time/Price VIPER
Funny thing with fx for me anyways is it keeps me disciplined. When I trade and scalp futures generally I am bad at follwoing the rules sometimes, and when it goes against me I start doubling down and sometimes win but small and then lose its huge. I can have 20 up days in a row and one bad day erases all that. But when I turn to fx and use the 15 min chart and base it on the s/r levels all of a sudden my disicpline is there and set a hard stop and let it take me out rather than avg in. I guess from what I heard its a good trend when it does so if I fade it once in a while I dont get creamed like I sometimes do in futures. Also I like the patterns better here and the better respect for s/r levels. It maybe in my mind but hey it helped my discipline a lot. Like today I did 8 scalps which I am trying to hold onlonger but I avged about 5 pips per trade. Granted I am only trading minilots1 at a time for now. Still helps me learn more than a demo cause money is on the line albiet only a tiny amount. I usually trade the minis indicies but I totally stopped now so I can focus 100% on fx which is needed. So each week I will step up the lots until I can become profitable and comfortable with the loss as well. May I ask you cable what type of stop do you use when your scalping? I.E. Is it at the top of a candle or instinct or spread plus however manuy ticks to keep a decent r;r?
Roger that. 
Interesting posts, this is great seeing what other traders are doing.
Short answer, my stops are based on technicals, or if trading fundamentals I'll perhaps use a non-technical entry with a technical stop level.
To be honest even at the best of times my trading is a bit on the 'unconventional' side, but as the market is so volatile (as the ever wisdom-ous viper pointed out) I've tried to adapt by throwing the Trading Mantra 101 rule book out of the window, ridiculously widening stops and reducing trade size to keep risk just about acceptable. The chances of getting shaken out are reduced significantly and the probability of a profitable trade vs a losing trade also increases (as can be seen from the blotter win:lose). The r:r sucks a bit but the win:lose compensates.
Technically a lot of my entries and exits were getting missed in these kind of market conditions so by having multiple entries at least I can get in a bit earlier, take profit if price goes in my direction or add if it doesn't, re-enter if the trade still looks good, take profit, add, take profit, re-enter etc etc. Lots of little bites add up to quite a decent meal at the end of the day.
In 'normal' conditions I'll have a mental stop at a price which, if reached/broken, would mean the trade is no longer valid or viable, mostly based on technical levels. I still average into a trade because I'm not that good at accuracy and it's a little less psychologically intense for me to have a couple of places to enter (I'm probably one of the few traders who's willing price to go up when I've sold so I can get the rest of my trade on!).
Is it the best way to trade? No, probably not, but it's hard to knock it when it's been so profitable for so long. Also I'm impatient, no way could I ever wait for those big massively profitable trend-following mega moves even if I was able to identify them in advance
Cable, I get you about scaling in and I do , do that. I find a zone say from this price to this price is my short area and start off, and if it goes my way off the bat great if not and still in my zone I will avg into a position. Its when it gets out of my zone I start getting pissed and double down But yes I like the unconvential side of trading myself. And while yes I was profitable in the eminis, it didnt come with out stress due to the unconvential side of me but hey thats trading. Alot of times my r:r was definatley skewd toward the unfavorable side but I made up for it on % of trades won. I think I can do better if I atleast try to work on the r:r , So I am trying. Thanks for the post on stops, its definatley helpful to see how other people view things. I am always open to learning and seeing what others do and see if I can fit it toy my personality if it agrees with me. Thanks again
But yes I like the unconvential side of trading myself. And while yes I was profitable in the eminis, it didnt come with out stress due to the unconvential side of me but hey thats trading. Alot of times my r:r was definatley skewd toward the unfavorable side but I made up for it on % of trades won. I think I can do better if I atleast try to work on the r:r , So I am trying. Thanks for the post on stops, its definatley helpful to see how other people view things. I am always open to learning and seeing what others do and see if I can fit it toy my personality if it agrees with me. Thanks again