- You are almost there.
It sucks the reputation doesn’t work here anymore. The only way to achieve anything is to have posts.
You could easily go to the trash bag and fire off some pointless posts that nobody would read.
Hmmm … I want to see how this 15 min candle ends … she did this once before on July 3, ignored your 50/200 signals and kept going down, another 80 pips from here. I don’t want to ride her that far down. Hopefully this candle ends as a hammer.
Yeah I’m doing a lot of that already … in fact this is one of them :D:D
Hmmm… You guys trade far less conservative than me. Another 80 pips down and I would smile.
Candles on a 15m don’t mean squat. 30m is too slow. I think that is why Tymen uses 20m’s.
Ok. I will throw a junk post in to help my count too.:D:D:D
And I will pretend to say something important … like why is a 20 min candle better than a 15?? I never got why Tymen is so addicted to the 20 mins. I had a chart up of them once but did not see much difference, maybe need to study it longer? Are your ma’s even better on a 20 min chart?
I don’t think IBFX loves me anymore. They don’t ever send mail to my MT4. They used to tell me when they closed. I don’t know if they close in an hour and ten minutes or if they are about to close in 10 mins.
Oh well, no trades til Sunday. No sleep til Brooklyn. No shave til Monday.
More conservative = 80 pips of drawdown? I would have thought the conservative play is very small drawdown? And you do full lots, right?
Why would you ride it down as opposed to getting out and buying more later when it settles?
Well the theory is the 15m is just noise. The 30m is more reliable. So compromise with a 20m.
I don’t know if my ma’s work better on a 20m because I have never seen a 20m. I like to trade what I feel all the other market participants are looking at. So we all see the same thing and act on it together.
On the 20 min that last candle looks more encouraging … a sort of spinning top doji thingy.
I just made a 20 min chart for the G-Swissy in MT4, with your ma’s, will let you know over the next week how it compares.
My definition of conservative to me means mm.
I buy small enough to ride wild drawdowns. You know the guppy can move 1000 pips within a week when she feels like it. Then come back up 1500 pips to recover.
The question is do you want that swing to wipe you out or put money in the bank. I choose the second choice. Without conservative mm, the second choice will not be made available to me.
Ha Ha Ha. Do I use full lots?
No I only average about $30 to $200 a day. Not much of a living. My other ventures pay the bills and lifestyle.
Now if I can do this for a year. I am going to put around 60k in my account. Even with 60k full lots using a value trading system is pushing it. A momentum system with stops, go for it, use multiple full lots. I am just not a momentum trader. I am no good at it. I do feel I am an excellent value trader.
You are very right and I actually learned that as a hard lesson last week, this week I am recovering. When she did that big drop, I bailed my longs, then got in short too low and got whipsawed there … the classic back & forth on the wrong side. And I did have plenty of room for the drawdown, I had small position sizes … but … I still let it happen.
But how do you know when to bail?? If she drops to 210.40 and we all buy but then she drops to 190… that is what concerns Andrew, this just holding on forever & waiting for her to come roaring back one day
By momentum, you mean when something is breaking out, you jump aboard.
And value is trying to pick the tops or bottoms, i.e. getting in at the best price? In that case, I am a much better value trader as well, I seem to have no luck with the momentum trades, not sure why.
As to account size, I think 100k is minimum to trade full lots the way we trade the guppy. I have a $500k demo account and buy 5 full lots at a time, multiple positions. So far even with drawdowns of over 300 pips, I have no problem with margin in that account. And it is up $250k in one month! This is taking rolling profits along the way, which really racks up the $$.
I think with a 60k account, better to trade 5 to 8 mini lots at a time, max. Just FWIW.
I bail when price moves back across the 200 ema. Either I am in profit or not. Since I love my strategy, I am in profit more than not in.
Yes, that is what I mean.
Well that is simple enough … and I do like simple! Thanks’s for sharing … and for allowing me to get within 4 posts of my promotion
Wait a minute … if when you enter the trade price is already below the 200 ma and the 50 because that is where it is supposed to be as a value trade … but then it breaks even lower … now where do you bail??
If it goes lower I buy more, because it just got cheaper. Value traders like bargains. But sometimes in a horrible downtrend the 200 ema will point south and price will always find a spot to cross the 200 on the 15m even during a horrible downtrend. When that happens you have to realize that price is now at fair value and no longer a bargain and close your orders in profit or in loss. That is your “stop”.