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; Had a -7 earlier. Into FTSE +1 in at 5466 - stop at 5450 risk 16. Stop out to 46 ...

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Old Aug 22, 2008, 2:20pm   #51
Joined Aug 2008
robicat started this thread Had a -7 earlier.

Into FTSE +1 in at 5466 - stop at 5450 risk 16.

Stop out to 46 risk 20

Sold at 62 - loss -4

-7, -4,

Last edited by robicat; Aug 22, 2008 at 3:36pm.
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Old Aug 22, 2008, 4:05pm   #52
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robicat started this thread I think the plan is is to make 3x my average loss, counting 0s as loses. The plan can be used to make freerolls, which lowers the ave, increases the deals by decreasing the required targets.

The system self regulates towards lowering risk. Tho say if you went -15, -16 ... one is tempted to put another 1-2% deal in. In this case one would need a clear upside of at least 45 pts. A rule that tightens things at this end may be good. Losing the next couple of deals at -2, -3, takes the heat off, as profit targets drop to around 25-30. What I like about it is that it actually gives taking a little hit a bright side - so yr less likely to go -15, -16.... you may go -15, -2, -3, -6 +27.
Locking in little freerolls and profits is good value as well as they serve as free hits systemically.

Anyhow interesting to map the motivational force field Kurt Lewin Style. The system tightens and becomes more selective. ie -16, -2 (early out on a play looking for 32), -6 (looking for 27) etc....,
though the reward for playing tight on risk is more deals, or at least deals that are easier to get out of with some statistically meaningful profit. Once again the effects of 0s (count as losses) and small profits have will need to be thought about.
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Old Aug 22, 2008, 4:22pm   #53
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robicat started this thread If i hadn't unwound it, this last onwe would have become a 11 pt freeroll or a free roll +5.

Decision (a)-7, -4 (Risk 20) pretty fair decision given i had come back from -16 and had vowed to get out if given a reprieve.

if id guessed right....(b) -7, 0 or (c) -7, +5 or a bigger figure if the bet gets lucky.

so the next deal is shaped (a) Risk 6, target 18 (b) Risk 4 target 12 (c) Risk 7, target 21
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Old Aug 22, 2008, 4:29pm   #54
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robicat started this thread I'm off to bed.
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Old Aug 25, 2008, 12:16pm   #55
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robicat started this thread Nkay

Back to it tommorrow. Trailing MicroFX platform.... as it can play at 10c a pip.

This opens up the shape of the deal - though i will stick to the risk/profit targets outlined above.
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Old Aug 30, 2008, 10:44am   #56
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robicat started this thread Nkay - trailing FX Micro - being able to play at 10c a pip opens the possibilities up.

traded two days - $36 down.

Working on entry system based on SMA, candlesticks. Working on qualifying the market for a deal through 60 min charts - then finding triggers on 1 min chart.

Exploring stop limits within the 1% money management system outlined.
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Old Sep 1, 2008, 7:53am   #57
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robicat started this thread Nkay back uinto the fray.

Got a sell setup on cable. Working on 10c a pip at 400 leverage.

The plan is to get a trigger then set a 1% risk bet. If this profits i will take one of two strategies -

1- generate small freeroll or small locked in profits.

2 - add to the position - expanding risk up to 2% if the trend looks strong.

3- basic plan is for wining trades to recoup 4x the average of last three losses.

3.1 Zero yrades count as losses.

4. Initial then add to the trade. Contract size of builds =progressive 1, 2, 3. Initial risk = average of last three losses.

5. Sell most profitable open contract if sell signal emerges. Clear position if clear signal emerges.

Last edited by robicat; Sep 1, 2008 at 10:46am.
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Old Sep 1, 2008, 8:17am   #58
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robicat started this thread Trade 1 -1 Sept

Cable

Sell 6 a 339 stop 707 Risk 22.00 = 2.2% (Note miscalculated and bought outside policy - plan - bring risk in)

Change stop to 339 - Freeroll - $11.34 profit on deal.

(plan let deal generate profit then in invest this in risk to 1% of capital + some profit. Id like to lock in a small profit at this point as well - wait and see)

(1 min the market is volitile... expect to lose some of these free rolls - profit on deal is 3.00 this far after a retracement)

stop filled loss 0
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Old Sep 1, 2008, 8:24am   #59
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robicat started this thread 0

GBP/USD 6 S 1.80296 1.80319 1.80497

Risk 1.2%
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Old Sep 1, 2008, 8:41am   #60
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robicat started this thread Stop filled.

0, -12 (Ave6)

Next trade targets 1.8% profit.
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