This ability would enhance shorter timeframe methodologies within this main methodolgy. I do not know the answer to the question wj
My spreadsheet does not calculate each trade and I get this data from the platform as an aggregate. also the platform I have set in PIPS to get away from dollars thinking... So, no I do not want to do all of that extra work as of yet...perhaps I could show the pips or the platform more often...
I will admit that the confidence that I get from the "loose arch methodology" causes me to endure non-institutional drawdowns more than I would like to admit...forcing me to keep exposure and leverage down...you saw what happened to the EUR/AUD trade when I really tried to trade!!... I am using a default trade ticket that calc's exposure automatically for me...(I have it set to give me 4% of the max available units at 50:1 and 25:1 on exotics).
another thing that bothers me... I do not like to hold trades like the EUR/GBP, all of this time, just to make one pip...granted we are interest positive, but this method makes its money from trading...trading....trading.... ok...its not so bad, cause' i have no other trades just now...you gotta' have some place to put all of the free'd up money...you know be careful when "mining" trades...you can always find one...but this is a "most important" step in this method and you should not filter down to shorter time frames...so CAUTION The idea is to have many methods going on....keep your aggregate leverage managable...and so on.... ElectricS...
I am quoting myself again...but notice she comes down...notice the timestamps on the posts...TV are you moving the huge currency market again!!!! are you SELLING!!! I do not like the market to obey me like that, unless it is index futures on Sunday night!!! Keep the cascade going...I need 49 more pips ! I recently have been examining my psyche, and I may have a flaw...yes Electric may be f8()&^ up....and need re-wiring...Why do I reduce the target and escape these "trades gone bad"... ("Girls gone wild" ) Ponder yourselves oh young ones, always check your "Gambling Meters"....or the Forex Meter maid will suck you dry and spit you out, without ever remembering you...
ES, the drawdown in pips is a good idea, I learned early on to turn off the P&L window. The trade ticket and the calcs sounds like a good idea, it at least is a bit of a loss limit, (here is a tip for rookies, if you are using 100:1 set the max units so that it reflects 50:1). How about using the SAR as a stop, or maybe an "early warning" that something may be going wrong, or maybe that sar, macd system as a consensus stop. The Ever Full Of Ideas VIPER PS 3 yard iceberg on the ask
I will "chime in" here with TV... So you want to be a trader do you? Then trade for what it really is...You must always be open and searching for new methods/instruments/timeframes/global ideas...etc... to augment your "plate of methods". Never Stop Looking Grasshopper many of you focus on WHY you trade...I hope your answer is the M word...MONEY....You seem to think that if you could just find that holy grail...then you could "settle in" and just do the boring work of execution day-in and day-out... challenge yourself...work that brain...keep it nimble...read ET ES P.S. i'm callin' in Citi... 3 yard is bstrading..move it!..lets get some M goin' on..where is that fricken' red phone jimmy C let me have it!
I swear that EUR/GBP is more manipulated than the YEN!!!! They will have to run that up a lot to shake me out...hehe all of my 1/2 lot lol...
Thats why I like threads like this and surfs, although I think surf is no longer trading FX. To be a successful trader you can never stop learning and execising your intellect. I will add the following, I trade for the freedom, although I work with a group, they do not have a "hive mind, you will adapt to service the" well you get the idea. They have realestate interests also and that is their main focus, I handle the forex. The Ever Thinking About Mel Shouting FREEEDOM VIPER