International markets traders banter

[CanOz]

Nah mate, i am a bigger gun, here is another one...
View attachment 48678

Another long, looked like a sweet entry what happened that time?

 

[avion]

That's what two years of losing does to your mind Can. I will take me long time to crawl out of that hole. I've tried sim similar to you but it never did anything for me, ie no emotions. So decision was made to go with real cash knowing well that i will lose or shall i say pay for TH holiday two years in a row
I am working on it, i am working on it...

 

[CanOz]

That's what two years of losing does to your mind Can. I will take me long time to crawl out of that hole. I've tried sim similar to you but it never did anything for me, ie no emotions. So decision was made to go with real cash knowing well that i will lose or shall i say pay for TH holiday two years in a row
I am working on it, i am working on it...

Yeah i can relate...trading is a mind f***.

You know we all have our issues, mine is hanging on too long...i need to trade with at least 3 contracts, 1 for a quick profit, the next for 1r and then a runner. Otherwise i'll just hold the one contract for too long and then it comes back to take me out at even.

If i can't trade 3 then i won't bother. There is allot to be said for trading size. If i can trade 8 DAX then i can take 5 or 6 off at 5 ticks, then another couple at 10 then leave a runner. Does wonders for the win rate. You need to be confident of the trade though. Usually trading at my levels i can get 5 ticks 75% of the time or better.

CanOz

 

[avion]

Damn, dax is moving nicely but i feel spent, been trading all day...

Are you riding this Can?

 

[CanOz]

Damn, dax is moving nicely but i feel spent, been trading all day...

Are you riding this Can?

Only on the IB paper account. long at 7064.5

 

[CanOz]

When i come back at this, I'm starting with 100k and nothing less. Its pointless to try and trade small IMO, otherwise I need a DAX mini.

CanOz

 

[tech/a]

When i come back at this, I'm starting with 100k and nothing less. Its pointless to try and trade small IMO, otherwise I need a DAX mini.

CanOz

Aw I don't know?

Biggest I trade is 3 contracts.

How much you want or think you'll make a month?
I'm happy with 5-8k--- £

Oh and the Dax hasn't done a lot since open--- if trend trading---

 

[CanOz]

Aw I don't know?

Biggest I trade is 3 contracts.

How much you want or think you'll make a month?
I'm happy with 5-8k--- £

Oh and the Dax hasn't done a lot since open--- if trend trading---

Honestly Tech, its 1000 times easier to range trade...as you know ranges occur much more than trends.

Its not the money i want to make, but its much easier to take a few ticks off with several contracts and then try and get a free ride.

CanOz

 

[tech/a]

Honestly Tech, its 1000 times easier to range trade...as you know ranges occur much more than trends.

Its not the money i want to make, but its much easier to take a few ticks off with several contracts and then try and get a free ride.

CanOz

Exactly what I do.
Several contract won't cost you 100 k margin.

 

[Trembling Hand]

Nah mate, i am a bigger gun, here is another one...
View attachment 48678

So what was your target and stop when you entered and what is your "normal" win rate over 100 trades?

 

[CanOz]

Exactly what I do.
Several contract won't cost you 100 k margin.

No, but i want to trade 8 * 8000 Eur = 68k. So i round up and risk (1%) 1000 EUR on each trade. 8 x 12.5 x 10 ticks = 1000 EUR.

CanOz

 

[avion]

So what was your target and stop when you entered and what is your "normal" win rate over 100 trades?

I enter with bracket orders, my target is 8 points or 16 ticks on dax and 40 ticks on hsi from memory (i am at work). I move my targets depending on setup but then all of a sudden this gremlin straight out of Spielberg movie except much bigger and taller then me, with big nose, big ears, green and mean starts running towards me and the only way i can make him dissapear is by closing my order. I swear it works! I do it many times a day...

That's why i still hold full time job so i can pay for your next holiday TH.

 

[Trembling Hand]

all of a sudden this gremlin

Its no gremlin mate its a complete lack of positive expectancy record. Doing it once or twice every 20 or so trades is just one of the small mistakes that discretionary traders make. But doing constantly is just as bad as pulling stops. Ultimately it will end in failure.

If your plan was tested and you knew how to make the numbers work over 100 trades then bailing on a good entry that took no heat wouldn't even come into consideration.

Here is what I do when the feeling of wanting to spew up an entry starts wrecking my stats;

So you enter with a bracket order that has a stop 8 ticks below entry.

1. First thing I do is take note how many ticks below the last low my stop is. In this case 7 ticks below the last low.

2. Next thing is take note how long till the current bar is complete.

3. Next then just concentrate on relaxing with breathing correctly and trying to keep the heart rate down.

4. Once the first bar is complete see if it had a lower low than the last bar. If it did, which this trade did, move your stop up by that amount, 1 tick.

5. Next thing is take note how long till the next bar is complete.

6. Next then just concentrate on relaxing with breathing correctly and trying to keep the heart rate down. Until the bar completes.

7. Once the second bar is complet see if it had a lower low than the last bar. If it did move your stop up by that amount.

etc etc until either you target is hit or your reduced stop is hit. The idea is to manage your stop not your target. Use your performance anxiety to reduce your average size loss (stop) which is far better trading rather than reducing your average win size which is an absolute certainty to failure.

 

[5oclock]

Good post TH !

 

[Trembling Hand]

LOL at the HHI.HK

Stops sweep much???!!

 

[Trembling Hand]

She's wild and wooly on the Seng today, even the arb bots cannot keep up!!

Index in yellow,

 

[CanOz]

This is looking like we could take out the bottom of the range today....

 

[Trembling Hand]

This is looking like we could take out the bottom of the range today....

Chinas PMI tomorrow will probably be the time to take it out if the data follows the last few months down.

 

[CanOz]

Chinas PMI tomorrow will probably be the time to take it out if the data follows the last few months down.

Yup, good point...

 

[avion]

Its no gremlin mate its a complete lack of positive expectancy record.

Correct, i have negative expectancy, hence i am loosing but i am telling you it WAS HIM:


HSI is boring...