Mr Cat learns to trade

This is a discussion on Mr Cat learns to trade within the Trading Journals forums, part of the Reception category; Originally Posted by GammaJammer For what it's worth in this market I think you are trading ridiculously. Liquidity is tight, ...

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Old Aug 12, 2008, 12:03pm   #31
Joined Aug 2008
robicat started this thread
Quote:
Originally Posted by GammaJammer View Post
For what it's worth in this market I think you are trading ridiculously. Liquidity is tight, next flow is king, 20 point moves are just noise intraday. Think you are making life hard for yourself trying to pick up nickels in front of bulldozers here.

GJ
Thanks for the advice. As I have no idea what i am doing i will take ridiculous as a compliment. The nickles and bulldozers thing i didn't really understand. Anyhow.
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Old Aug 12, 2008, 1:23pm   #32
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robicat started this thread In at 149.11 stop 4903 risk = 8

****
stop moved to 911 - freerolling

****

stop filled - Nil

Last edited by robicat; Aug 12, 2008 at 1:30pm.
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Old Aug 12, 2008, 1:40pm   #33
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robicat started this thread Not a great day +13 so another draw for 0.

Profit - 13/1000 (Rating Draw -0, 0)

1 Win - Ave 53
3 Loss - Ave 13
1 Even

Adjustment for tommorow. Keep average losses low.
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Old Aug 13, 2008, 1:22am   #34
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robicat started this thread I appreciate what you are saying I think. Still I'm up in my paper drill 3.5% and 1.3%, neither of which I see as great results.

Your probably right though.

Cheers Rob
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Old Aug 13, 2008, 6:13am   #35
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robicat started this thread EURUSD

Buy 149.25 Stop 16 Risk 9 Sold at 21 loss 4
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Old Aug 13, 2008, 8:09am   #36
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robicat started this thread In at 149.48 stop set at 38 risk 10

Pull stop back to 28 (price 56) Risk 2%

Move stop to 149.60 12 locked in (price 76)


Stopped out +12

Last edited by robicat; Aug 13, 2008 at 8:38am.
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Old Aug 13, 2008, 11:40am   #37
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robicat started this thread To reduce risk. My plan is to be in the, market when it breaks. If it breaks and retracts it seems it will take out a long stop as often as a short one.

anyhow in at 148.75 stop at 50 2.5% risk.

Jammer you heckled me into a longer stop - lets hope I have got a bargain. lol

Last edited by robicat; Aug 13, 2008 at 11:46am.
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Old Aug 13, 2008, 11:42am   #38
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robicat started this thread Anyhows jammer - how would you consistently turn $1000 into $1100??
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Old Aug 13, 2008, 12:53pm   #39
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Robicat

Why don't you try binary bets. On extrabet.com - sports betting, bet in-play, bet in-running you can play as low as $1 on each position. Have a look at the FX ladders. There you are betting on whether the FX cross will be above a certain level at close. You either win or lose. But you can always close your position if you think you're going to lose.

RIWF
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Old Aug 13, 2008, 1:25pm   #40
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robicat started this thread Shifted stop to 14875. Freeroll. (price 14909 retracing from 14920)
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Old Aug 13, 2008, 1:43pm   #41
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robicat started this thread Thanks ... i follow binarys and use them to price my decisions sometimes. Spreads are better cause you can control risk return. A binary is really a bet against a market. Spreads seem to me more open to getting systemic edges.

My experiment is to see if i can trade 1000. What I am doing is playing tight on risk, and grabbing good odds on breaks and turns. I expect to lose 3 deals to one win. The shorter i keep losses the easier it is to grab 3-1 odds. Playing the game of inches gives you a supply of freerolls and small wins, and hopefully a supply of small profits that can be put into a deal that is of a more medium term nature. Longer term the idea i am having is to let some of the positions evolve into interday positions, thats not this drill though which is more about learning to let go of deals.

The key is killing deals that lose the edge (momentum) early, and taking profit at a rate that is more than 3-1 above yr average loss, and being selective enough to hit 1 in 4 deals.

Anyhow its a plan...

Closed Out deal +45

-4, +12, +45 = 5.3%

Last edited by robicat; Aug 13, 2008 at 1:53pm.
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Old Aug 15, 2008, 1:30am   #42
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robicat started this thread Oh well so much for my Euro Rally theory.
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Old Aug 16, 2008, 8:59am   #43
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robicat started this thread Eval.

11/08 - 4 trades +15, +35, -4, -10 (score 0,+ 5.6%)
12/08 - 5 trades +53, -18, -19, -3, 0 (score 0, +1.3%)
13/08 - 3 trades -4, +12, +45 (score 0, +5.3%)

Week 12 trades - Loss 7 for 58, Win 5 for 170. Ave Loss 8.28 Ave Win 34

W/L = .71 (Target .33) AveP/AveL 4.1 (Target 3.33) PL 112/1000

Weekly score - +1 (11.2%)

Last edited by robicat; Aug 16, 2008 at 9:14am.
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Old Aug 16, 2008, 9:15am   #44
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robicat started this thread Good result - particularly as I was playing against the trend backing EURO v USD.

I suspect I can take a few more deals on. The trick is to find patterns in the charts that fit the money management pattern i am playing.
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Old Aug 21, 2008, 2:02pm   #45
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robicat started this thread Arrggg.... system failure.... pc that is. Funny I was thinking that i needed to get the pc platform solid - and way more monitor .... the next day..... boof no computer.

So had to buy a new one..... presently i am being microsoft vista'd (ouch) but will be starting trading again now with wonderful massive graphs to look at.

Im interested in someone telling me briefly if IG Markets and the like who do CFDs are "spread betters"....

and what the difference is....

I think once i am on top of this new PC I will be ready for anything ie backtesting software. Anyone have any suggestions? Also I'm interested on peoples thoughts about subscribing to a paper trading platform. At present im sort of camping on IG's turf looking at their charts, and using there deal ticket to "make beleive:" click through the deal, then recording it here.

I'm certainly a waste of bandwidth to them so i expect them to turf me off at some stage.

The other option I have is to keep demo-ing different platforms which is messy.

Anyhows thinking out loud here though if anyone has random thoughts or advice on these topics feel free.

Now im gonna go look at some graphs on my 22 inch monitor.
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