If I could figure out how to trade with a 2 or 3:1 ratio of TP to SL, I would add that to my list...but I am only able to figure out 1:1 ratios for now...
ES
rank order
- Low drawdown (17% would be awesome but I can tolerate 30%).
- Stop and TP's at all times (they can be stealth or hard).
- Lots of trading and action with short duration hold times to allow to get flat for weekends and mid-NFP week.
- No fancy money management, just use fixed lot size per 1K.
- No hedging, gridding, averaging-in or pyramiding-in.
- Proportionate lotsize to SL and TP width.
- IBFX mini account (s) with stable MT4 EA's with several accounts that are trading between 1K-10K in each account for diversity.
Wow. That's totally different from what I want.
- Low DD is must, we agree there
- I don't ever (EVER) use tp, I trail
- I don't want lots of action, I want a clean entry and a long run after that where I can pyramide the position even more. NFP or such don't matter if you don't trade the smaller timeframes. All they give you is entry positions
- Money management is not something fancy, it's must. I always (try to, sometimes I don't follow my rules, bad me) use "geometrical money management" where your stop will kill x% of your account. 2-5% is a good percentage.
- I only want to trade with ECN's. IB is my choice - great broker. I'm also looking into MT4 from MBTrading when they get out of beta, it sounds almost too good to be true (although their commissions are bit too high for my liking).
I must be a lot longer term trader than you, I'm looking for entries that last for days to weeks to months if trend runs that far..
That's about it.
mik,
Thanks for your post...this is all about YOUR preferences...i like to read about what other traders like and why...Thanks again...
ES
Wow. That's totally different from what I want.
- Low DD is must, we agree there
- I don't ever (EVER) use tp, I trail
- I don't want lots of action, I want a clean entry and a long run after that where I can pyramide the position even more. NFP or such don't matter if you don't trade the smaller timeframes. All they give you is entry positions
- Money management is not something fancy, it's must. I always (try to, sometimes I don't follow my rules, bad me) use "geometrical money management" where your stop will kill x% of your account. 2-5% is a good percentage.
- I only want to trade with ECN's. IB is my choice - great broker. I'm also looking into MT4 from MBTrading when they get out of beta, it sounds almost too good to be true (although their commissions are bit too high for my liking).
I must be a lot longer term trader than you, I'm looking for entries that last for days to weeks to months if trend runs that far..
That's about it.hi
only one that different for me ,i like long term trading using 4H or daily with longer TP and SL
===================
Hello ES,
I'm a lot like you.
I want:
1. Low DD (my nerves couldn't take a high DD)
2. Lots of Action (like to hear the register ring a lot, plus I get bored easy)
3. Simple straight forward system (preferably without a bunch of indicators)
-wolfe
Low drawdown (17% would be awesome but I can tolerate 30%).
Tolerate 30%!?!
You are expanding your horizons!
Just being realistic....
Tolerate 30%!?! You are expanding your horizons!
yeah prasxz...I have spent hours at your website...Thank you for your service to traders like me....
You are probably a little more profitable than I...because a millionaire currency trader that retired told me that long term is better with currencies....I just prefer more action and faster decisions...I am not a novice but most new traders prefer action and high winrates....winrates do not matter as much to me anymore...just Benefit to Risk ....
ES
only one that different for me ,i like long term trading using 4H or daily with longer TP and SL
===================
Forex Indicators CollectionYou know many are like us wolfe....even the new traders....its just that we lower our expectations with time...
Please readers share your thoughts....This is what makes Forex-tsd interesting to old farts like me...
ES
P.S. Hey wolfey...Arizona and Pittsburg !!!! I take Arizona! I like those short screens...
Hello ES,
I'm a lot like you.
I want:
1. Low DD (my nerves couldn't take a high DD)
2. Lots of Action (like to hear the register ring a lot, plus I get bored easy)
3. Simple straight forward system (preferably without a bunch of indicators)
-wolfeYou know many are like us wolfe....even the new traders....its just that we lower our expectations with time...
I know what you mean. Do I sense a new Challenge from you in the future?
One with a max 30% DD?
P.S. Gotta be AZ over the Steelers! What happened to the mile high boys this year?
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Personally this is what I have discovered that appeals to me for trading with a reasonable profit, hopefully 50% per year:
rank orderWhat is your fancy?
ES