onedrop riddims
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Thread: onedrop riddims

  1. #1
    So, I'll be funding an account later this week to start live trading based on current achievement newspaper trading (two weeks -- a couple of sessions per week, with 80% profits and relatively small drawdowns). While technically I undergone drawdowns up to 10%, I didn't have any losing trading sessions. We'll see if this trend continues...

    I don't follow a mechanical system. Been there, done that. I do not use predetermined stop loss or take profit, I trace the rhythms and riffs of the PA and my intuition. Not everybody is gonna like that or be able to follow along, but hey, that's what works for me. In my experience, mechanical trading leads to results that are unsatisfactory and inconsistent. That isn't to say it does not work for many people, but I think that it's more important to be more agile and adaptive on the battlefield, which many systems do not really allow or promote.

    Props to FTI for getting me on the ideal track with this. If you have not read his thread at least one time through, you ought to do so (IMO). I do not claim to trade FTI's way if such a thing exists, however, I heard from him the way to trade consistently in a fashion that works for me. And I've got a lot of space to grow, which is part of the reason for starting this journal. I believe we can all learn from each other.

    Well until the trades start rolling, I'll write a little about my trading egy (afterwards ).

  2. #2
    Staked out a position @ 168.638 (17:45 GMT)

    Disposition: careful, watching for 4H wave to return south

    Edit: moved foundation to 168.694 (21:30 GMT)

    Do not have time to babysit this transaction, and PA is not supporting a brief position.
    Shut out for little profit @ 168.65 (23:30 GMT)

  3. #3
    Should have remained in that 1

    However after a few skirmishes tonight, and a plummeting usd/jpyup 5% (no losing trades)

  4. #4
    Ok, there is no way I will be documenting every trade.

    Here is an illuion trade. Most of them don't go this smoothly, but this provides an notion of my overall approach.

    Up 15% up to now (no losing transactions ).

  5. #5
    Thank You for sharing!

    Solid stuff.

    Best of trading for you!

    P.S.. One question: Can you ever use the regression channel to exchange
    sideways market action or only climbing and falling trending?
    I guess you likely leave it alone.

  6. #6
    Ok, here to sum it up:Follow the tendency Buy low, sell high Leave no man behind I only have one indior on my charts today (linear regression stations ), and that I use it to help picture the trend, and volatility over the trend. This covers points two and one. I am usually trading the 1M or 5M charts, but always in context of high timeframes 4H, Daily, Weekly. As a trade evolves I will often change to 30M chart, still referring to greater timeframes for context.

    Today the question of leaving no man behind comes down to money management. The conventional wisdom claims to cut your losses short. This is nice, but leads to drawdowns, which would be the nemesis of successful MM. Drawdowns prevent geometric account development, and can wipe out weeks of excellent trading at a run of bad sessions. As a rule, I don't tolerate any losses (consequently, leave no man behind); every transaction must be shut for at least a little profit. Occasionally I am forced to violate this rule, however I don't look at a trading session to be over until it finishes in profits. This is to prevent/eliminate authentic drawdowns, keeping forward momentum more consistent.

    Rather than closing bad rankings, or just waiting and hoping that price will turn back around, I perform rescue operations. This is the custom of opening extra positions on price retracements in order to pull the commerce's foundation line back from enemy territory. Still another, more optimistic, way to check at it, is to choose a losing trade as an opportunity to set up a stronger position (it is ideal to maintain the very notion of losing from mind altogether). Then when the trend resumes, I shut out poorer positions in order to reduce exposure, leaving the stronger positions open to pay the risk of opening added new rankings.

    I basically follow the exact same approach during winning transactions; open extra positions on price retracements and gradually shut out weak positions to reduce exposure. This permits a strong position to be built up, and also do some scalping, including small profits along the way to a larger victory.

    I usually plan for 1%-5% profit per trading session. Losing trading sessions are both unecessary and undesireable. At worst, I will accept a breakeven trading session. Drawdowns during an open trade are usually less than 5%, but occasionally I get a bit aggressive on my rescue operations.

    My biggest challenge will be fighting undercapitalization. I have to be careful not to open too many positions during a rescue operation. 3-5 should be maximum, although in demonion I occasionally have 10-12 positions available at once. This will be something to operate on, and a potential cause of failure.

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