Day Trading - page 6
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Mr. North,
If you want in on it... no prob. I was actually just offering Daet, thinking it would help alleviate some of his apprehensiveness.
But sure, you're more than welcome... of course you will have to post your performance log in the thread for ALL to see. This way everyone gets to give you a jab for "loosely disciplined" trade decisions.
Hell, I might even throw it up on a demo account for kicks.
That takes me back
Mr. North,
If you want in on it... no prob. I was actually just offering Daet, thinking it would help alleviate some of his apprehensiveness.
But sure, you're more than welcome... of course you will have to post your performance log in the thread for ALL to see. This way everyone gets to give you a jab for "loosely disciplined" trade decisions.
Hell, I might even throw it up on a demo account for kicks.If I get a spare moment I shall open a demo next week between my real trading and ply your method.
Perhaps some yound pups will show this old dog up
Good level headed thread Mr Marketz
fxnorth
Hi, Mr. Marketz and everybody,
I've been trading forex live for about 5-6 years now, of course, with indicators - how else... though, the trading "naked" practice was always mystery to me and I always wanted to sit next to more experienced trader for a day or even for few hours to watch and understand how they are doing it.
Now you opened my eyes! Thank you so much for one more trading mystery out of the closet. I am so excited and already watching these two charts and quessing... wonderful, I am speechless.
I am in.
This thread is like a breath of fresh air, it doesn't come any better!
Thank you for sharing.
Lietuve
Looks very nice but how reliable?
I have question about your MM.
Script use fixed risk 10proc. Hmm
I am thinking about it fixed ratio ... with delta or Lead risk - it is combination.
QUOTE]
I looked into it, sounds too good... no, no I'm not to criticize - just want to know who Kelly is. Is it Kelly Odell (CEO of Vovo in Sweden) that promotes bigger risks for biger profits?
In other words, with my not so great knowledge of Chech language I will look into it during weekend, 'cause that might be my problem of beeing a meager trader; I don't loose, but I don't win enough to make a comfortable living.
btw there is a risk optimizer at Pallisade.com - ever tried that?
Thanks for the information.
Lietuve
I do not know
It is Slovak language
It is very similar. Czech understand Slovak and reversely.
I don't know, Fixed ratio with Delta ... from Simba.
Kelly
Lietuve,
Kelly stands for Kelly Ratio,if you google it you will get lots of information on it...If you search this Forum you will get most of it.
Basically,based on your win/loss ratio and average win versus average loss relative sizes,the Kelly ratio is the "optimal "size ,as account %,you should risk per trade to maximize returns without blowing(halving) the account...
Caveat Emptor,this is all theoretical,and experience shows that what kills this MM system is maximum adverse excursion,so,many traders have resorted to use "half Kelly" or "a third of kelly" to manage their positions..which is good only as long as their max adverse OPEN loss is not bigger than double their average CLOSED loss and their max cumulative drawdown can stand the position size...
Interesting concepts you can Google,besides Kelly ratio, are Fixed ratio and Risk of Ruin...AND my favourite..APD(Average closed Profit to open Drawdown)which is the key to size the position you should be trading.
PS:Interesting that some top honcho at VOLVO preaches taking risks
Regards
Simba
Lietuve,
Kelly stands for Kelly Ratio,if you google it you will get lots of information on it...If you search this Forum you will get most of it.
Basically,based on your win/loss ratio and average win versus average loss relative sizes,the Kelly ratio is the "optimal "size ,as account %,you should risk per trade to maximize returns without blowing(halving) the account...
Caveat Emptor,this is all theoretical,and experience shows that what kills this MM system is maximum adverse excursion,so,many traders have resorted to use "half Kelly" or "a third of kelly" to manage their positions..which is good only as long as their max adverse OPEN loss is not bigger than double their average CLOSED loss and their max cumulative drawdown can stand the position size...
Interesting concepts you can Google,besides Kelly ratio, are Fixed ratio and Risk of Ruin...AND my favourite..APD(Average closed Profit to open Drawdown)which is the key to size the position you should be trading.
PS:Interesting that some top honcho at VOLVO preaches taking risks
Regards
SimbaIt's all about the risk reward ratio. Simba, I have never read one of your posts without learning something new. You are what forex-tsd is about.
I've been trading forex live for about 5-6 years now, of course, with indicators - how else... though, the trading "naked" practice was always mystery to me and I always wanted to sit next to more experienced trader for a day or even for few hours to watch and understand how they are doing it.
Now you opened my eyes! Thank you so much for one more trading mystery out of the closet. I am so excited and already watching these two charts and quessing... wonderful, I am speechless.
I am in.
This thread is like a breath of fresh air, it doesn't come any better!
Thank you for sharing.
LietuveThat's fantastic, lietuve. You just made my day.
I notice that no one took me up on my "let's pretend" challenge. I think I might give it a go. I'll follow my own rules and post progress as it moves along. Maybe this thread will serve as a form of self therapy.
I notice that no one took me up on my "let's pretend" challenge. I think I might give it a go. I'll follow my own rules and post progress as it moves along. Maybe this thread will serve as a form of self therapy.
Hi Mr.Marketz
Have you any examples for today?
Please, see picture, is that a ok?
1. picture - ideal entry - Twigged am well system?
2. today trade