Double down demo trading

[pssonice]

u sold at a low, looks like u dont have any idea

when to buy or to sell.
20100524, 10:28pm #17 Chartsy
Third sell stop triggered: sell 8 @ 1.23452
overall:
2 @ 1.25375
4 @ 1.24530
8@ 1.23452

20100524.1225,1.23872,1.23878,1.23649,1.23650,259
20100524.1230,1.23661,1.23742,1.23653,1.23735,298
20100524.1235,1.23735,1.23822,1.23731,1.23788,200
20100524.1240,1.23788,1.23901,1.23687,1.23689,245
20100524.1245,1.23694,1.23798,1.23660,1.23727,238
20100524.1250,1.23726,1.23752,1.23604,1.23689,287
20100524.1255,1.23691,1.23812,1.23689,1.23812,265
20100524.1300,1.23812,1.23920,1.23812,1.23917,223
20100524.1305,1.23910,1.23935,1.23848,1.23929,178
20100524.1310,1.23931,1.23959,1.23909,1.23917,147
20100524.1315,1.23917,1.23917,1.23851,1.23867,150
20100524.1320,1.23865,1.23938,1.23842,1.23911,137
20100524.1325,1.23909,1.23956,1.23901,1.23951,194

 

[Chartsy]

You're on the EUR/USD trade nicely here.... how do you calculate the stop or exit level, is it some kind of trailing stop?

usually around 2XATR (15 day) in this case it's above the previous high.

Also, last few days i've made a more dynamic stop loss. It's ,say if we a short like now eurusd, and price doesn't continue to break that last low, instead stalls a reverses and breaks the high we shorted from, i exit once it goes 100 pips above previous high (but it must but at least 2/3 there)

 

[Chartsy]

4th sell stop triggered : sell 4 @ 1.22425
2 @ 1.25375
4 @ 1.24530
8@ 1.23452
4@ 1.22425

 

[Chartsy]

profit target missed by one pip . i bailing and cheating myself out of 4/5 pips

not sure how to calculate this, but in 'pips' from entry to exit was ...300 pips thereabouts? account +31574=3.16%

 

[Shakone]

Just for comparison with the 3.16%...had you gone in full size on your initial trade, what would the % gain be? Also had you gone in full size on each of those subsequent trades you took as well, what % would you have?

 

[Chartsy]

Just for comparison with the 3.16%...had you gone in full size on your initial trade, what would the % gain be? Also had you gone in full size on each of those subsequent trades you took as well, what % would you have?

not sure, but there's a problem with what your'e saying: i wouldn't ever be entering so many full sized positions, so that can't really be compared. But i can compare going full size @ first trade

295X140/pip=41300=4.13%

all in:4.13%
scaling:3.16

 

[Chartsy]

Going to go long USDCHF: Dollar in general is gaining strength due to a number of reasons, contagion euro fears=risk aversion= people buy dollars, also things like spanish banks being defaulted mean risk aversion too, as evidenced by eurusd sell off. In general the US economy has been growing well, yesterday consumer confIdence figures rising also indicates consumers are beginning to feel more confident in the state of the economy. Also reason is-uptrend and pullback.

ENTRY:[email protected]
BUY LIMITS:
[email protected]
[email protected]
[email protected]

TARGET:1.16
STOP LOSS:1.09881

 

[Chartsy]

Also is there anyone out there who also averages down? any advice? in particular i'm wondering on how to backtest this sort of thing. Was thinking maybe a low value EMA and trying stuff with that

 

[Chartsy]

fiddled around a bit with,first buy limit was hit but i think it's still headed down, instead i am widening the initial profit target to 1.169 , 90 pips higher. I have to give more room to the upside as well as the downside. So that's another bit added to the plan : profit target must give inital buy limit room to fluctuate.

 

[Chartsy]

Canadian stock picks is right here. Check this one out
CLICK HERE

you are like actually so kind.

 

[Chartsy]

stopping this thread. i opened it for the wrong reasons: discovering something and preaching it like the bible when i may not know how to implement it myself. demo trading is just bad for me too.

kthxbye

 

[Chartsy]

ha, thing is i was right to stop this i no longer average down and pyramid at the same time i think it can get a bit too complex, so now i just pyramid into winners.When i started this thread i was averaging down in the wrong way anyway-i picked a level then averaged into that, that's wrong, i should have waited until it hit the level first, then average.
So basically i was impatient and averaging down was just a way to 'guarantee' that my level would be hit.

Now, iv'e found the best thing is to have absolutely loads of markets to look at,stocks,forex pairs and whatever tickles your fancy really, i used to think it was bad to want to trade more than one market, but now i'm seeing that it has significant advantages so that you can always find at least a few markets at or near where you already want to buy, then pyramid, initially with a wide stop (again wide stop reduces need for perfect entry)

 

[wackypete2]

Learning what to do AND what not to do are equally important. Glad to see things are coming along for you!

Peter

 

[Chartsy]

Constant learning process init! i've come to learn more on fundamentals too; i know longer form an opinion on economics, i just kind of like to know it. It's just to make my buying of support among other operations, seem less pointless, i want to know the news . Im not trying to be an economicst anymore , i've come to realise trading is about finding a way to grab some of the price movement that exists, whilst at the same time letting volatility work, with low risk and high rewards.