Scaled-in at 91.75 for 2% risk and again at 92 for 2.25% risk. LOL. When I calculated my risk in the first post, I thought by 92, I will have only 2% risk - wrong calculation OOPS!!! I have 2.25% since I started selling from 90 and at every 25 pips from there. Anyways, scaled in at 50 pips after 92 level. So, scaled-in at 92.5 and 93 with 0.25% risk each. Booked first profits on 93 scale-in at 92.2 (80 pip profit). So, current booked profit = 0.25% * 80 pips = 0.2%. Bidding at 91.7 for exiting 0.25% risk from the scaled-in entry at 92.5.
Yen had a strong move today. As outlined in first post, scaled-in at 93 again and 93.5 for 0.25% risk each. So, total risk currently = 2.25%(scaled at 25 pips)+ 0.75% (scales at 50 pips) risk = 3% risk Bidding at 92.7, 92.2, 91.7
you been hanging out with ammo to much haha jk.. i guess you knew this was going to happen... not to be a jerk but i thought about riding the yen up as it squeezed you because it seemed that was an assumption you were sure of yourself along with all posters ...
I'm not quite clear on this thread . . . is he scaling in to a losing position? Long yen and short dollar? Because the thread title is fading yen, but he appears to be long yen.
HaHa. Nice way to put it. So, I will give you some history. I started out 4 yrs ago in trading. First 2 years, was learning new things and was a consistent loser. After 2 yrs, I got a hang of intraday fx trading. My Sharpe has been pretty strong in FX and it has held strong for last 2 yrs. Mid 2011-Mid 2012 was a year when I didn't make any money from trading, didn't lose either. Reason is - I started to trade ES. All the money I was making in FX, I was losing in ES and this continued for almost 10 months or so. But I persisted as a madman would! Finally, for the last 6 months, I have started making money both in FX and index futures - all intraday. Being able to diversify across two very different markets is very useful from the longevity perspective. My most important project at hand is automating all my strategies - my aim is to finish this project before End of February. With the core of my intraday trading program on solid ground now (apart from automation), it is time to play with new concepts - having diversified across 2 different major markets, my next goal is to diversify across time. So, now I want to concentrate on developing a swing trading methodology. This thread is in that direction. Here, I am trying an extremely passive kind of trading approach. I think there is potential in this approach - if this approach is followed say across 50 futures markets - daily charts. It is also possible that after 6 months or so, I would rather invert this approach - and instead of fading parabolic moves - actually start to scale-in and go with parabolic moves! This has happened often enough in the past - when I have changed the core of my trading approach upon learning that the reverse methodology could be better!! My monthly standard deviation is > 15%. So, even if I lose 13% on this trade, it is something I can tolerate. Thanks for the interest and following so closely
At some time frame its your ability to call reversals...... one thing that seems to be a fact is tradability scales with volatility... on a smaller time frame high volatility looks like large smooth swings...