Pyramiding Trades Intraday

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Old Aug 1, 2017, 4:44pm   #9
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Everyone is copying me
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Old Aug 1, 2017, 5:45pm   #10
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Everyone is copying me

I haven't got the b@lls to copy you matey.
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Old Aug 1, 2017, 7:37pm   #11
 
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Originally Posted by Dr. Toad View Post
So, I am thinking it is time for me to develop an intraday scaling strategy. If I can have these results on a half-assed first attempt at it, surely there is something to it. Does anyone trade in a similar way, and do you have any suggestions? How do you determine when and how much to scale in? Do you scale out or close it all at once? Any suggestions on good times to stop scaling and/or start closing these trades are welcome. Or any other thoughts.
The following is from my book and may be helpful. It's been saved from one format to another, but from having just skimmed it, it looks okay.

Note that this is just trading price and volume so it may be of no use to you. But one never knows.

As for all the arguments about scaling in vs not, remember that professionals are continually lightening up their positions and "buying the dips", i.e., scaling back in on better prices. This is how one builds a position.

Note that this is a pdf, so it should be all right.
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File Type: pdf Mngng Trnd Dy-Sclng Out.pdf (731.0 KB, 43 views)
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Old Aug 1, 2017, 7:57pm   #12
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I haven't got the b@lls to copy you matey.
I copied you and your big ben system many years ago
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Old Aug 1, 2017, 10:26pm   #13
Joined Jul 2015
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Originally Posted by dbphoenix View Post
The following is from my book and may be helpful. It's been saved from one format to another, but from having just skimmed it, it looks okay.

Note that this is just trading price and volume so it may be of no use to you. But one never knows.

As for all the arguments about scaling in vs not, remember that professionals are continually lightening up their positions and "buying the dips", i.e., scaling back in on better prices. This is how one builds a position.

Note that this is a pdf, so it should be all right.
Appreciate the PDF and comment. I never have been able to make heads or tails of volume, I only really trade price action, so should be of some use to me.
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Old Aug 2, 2017, 1:21am   #14
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Originally Posted by tomorton View Post
Nice idea Dr. Toad.

I rarely day-trade but by coincidence have just started working a plan for pyramiding multi-day trend-following positions. Involves opening another same size trade when unrealised profit reaches twice the initial risk, +2r. Move stop for original trade to entry +1r, set stop for new trade to same price, so that worst possible outcome is now break-even. Ideal outcome would be for price to go to +3r, when I could repeat the process, always assuming the trend's TA is still good. If trend fails at +3r, I exit with +4r realised gain, for original risk r.
Good thoughts. This is kind of the route I am headed with this. For my original seat of the pants experiment I didn't really have anything ironed out, so no real set risk when I did that (very bad idea, I know).

Looking back at the successful trades, the low of the previous 5 min bar seems to be a good initial point to set as the first stop. Probably going to use that as a starting point. Looks to be a reasonable way to track the trades as well.

This is all very odd for me since the only reasonable way to trade this way (I think) is with even lot sizes. So I will have to find the trade risk and then filter the trades out by a max trade risk I set...backwards from the way I usually do with sizing position from the stop, but if what you are doing isn't working...

My thinking right now is allow for 2 entries at each level. One when the level is hit and another if price retreats halfway to the previous level. That way the position is being built in a strong uptrend as well as on small pullbacks. This still would have built a position size of around 1000 with the UAA trade...I need to figure out when/how to scale back still...time for some investigation I think.
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Old Aug 2, 2017, 6:44am   #15
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Dr. Toad started this thread I was able to get the basic concept coded up and functioning. Haven't really debugged it yet but it appears to be doing what I am telling it to. I likely need to add more filters and definitely need to do some more testing on it to make sure it is robust enough and investigate different ways to manage the trade/scale in and out, but the skeletons of the code are in now.

pyramiding-strategy-uaa-20170731-1.png

pyramiding-strategy-uaa-20170731-2.png

pyramiding-strategy-uaa-20170731-3.png

Now THAT is one sexy trade.
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