Doomy's back and he's about to butthurt the AUD/USD

[darktone]

We should differentiate between averaging-down and scaling-in , as long as scaling-in is a part of your trading plan -without risking more money- then its ok , averaging-down as a revenge tech is totally different story , so instead of trading 300p/p why not space his entries with smaller stakes to get a better entry price ? ofcourse he needs a predetermined plan , its dangerous yes but he's already trading @ 300p/p , why not trade much smaller then add later ... ?

Thats a key point imo! Scaling in and averaging down are very different.
If your desired position size is 3 units, and you buy 3 times at a size of 1unit, at lower / better prices. Thats scaling in.
If you add more 'unplanned' size thats averaging down imo. Not good.

Adding even more size after the reason for the trade has ceased to exist. Really not good!

Quadrupling size and measuring your 'risk' with normal stops (in part) in front of a number in a thin market. Doomberg thread! :clover:

 

[VielGeld]

I was day trading mostly, for a long time and even then it was muy rules that got me.

But yes, of you look at the majority of my last threads, of swing trades.... had i kept the stops at the critical levels i worked out which were at least 50 points away, i'd of won on pretty much all of them... instead i move my stop up like a trailing stop, but instead of locking in profit i just make my position 10x bigger

Well, then. You have your answer, eh?

Next trade, try sticking to your levels and not add any more than your normal trading would dictate. That could do the trick.

You'll have to be disciplined enough to not touch anything, of course. But I think just the idea that touching anything = losing money is enough of a motivator not to do that in the first place.

 

[sonofcablemonster]

@Doomberg funny how everyone is an expert trader on tinternet init. Everyone makes money every single day and drives a lambo here. Dont see them posting their trades. You carry on son.

 

[Atilla]

Carry on as you were...

Try trading to this...

Hope you get over it soon and short the pants out of AUD as it certainly ain't going anywhere fast.

 

[Atilla]

difference between being right and making money

also always being after that elusive big prize and dying by thousand cuts....accumulated losses now may be so high that it psychologically almost compels to take big punts every time one has money only to worsen the losses....

there is no real way out except stopping?

Agreed - but I feel we've all or most have been there and have T-shirts to go with the experience.

Take a rest, reflect and come back to it would be my advise.

 

[wackypete2]

@Doomberg funny how everyone is an expert trader on tinternet init. Everyone makes money every single day and drives a lambo here. Dont see them posting their trades. You carry on son.

Good point. It take guts to post your trades, then take a beating if it all goes wrong. Let's give Doomy some credit for putting himself out there and posting his trades.



Peter

 

[Pondlifedregsbutler]

Good point. It take guts to post your trades, then take a beating if it all goes wrong. Let's give Doomy some credit for putting himself out there and posting his trades.



Peter

Doom's packing a seriously full sack 4sho but this time it was all just a SLC moment he was having, I know all the symptoms having had a few myself over the years.

See you in a months time with next months wages Doom. ATB bro.

 

[random12345]

See you in a months time with next months giro Doom. ATB bro.

Small correction.

 

[wackypete2]

is his / her objective to gain credit or sympathy on an anonymous forum or to make money

Makes no difference. The point is so many people are telling him what he should or could have done but never post any of their own trades. That doesn't mean he should discount their opinion but remember criticizing someone else is easy. Letting someone else criticize you is extremely difficult to accept.

Peter

 

[sonofcablemonster]

regardless....point is whether you make money or not...

everything else is noise...just that

in many ways he / she may have done better to take the trade and contemplate / introspect / focus / concentrate than coming to a forum where 10 posters may provide 11 opinions

So are you saying that discussion on a trading forum wont improve his trading? Surely not.

Would you go to jail to learn how to be a model citizen?

 

[counter_violent]

Makes no difference. The point is so many people are telling him what he should or could have done but never post any of their own trades. That doesn't mean he should discount their opinion but remember criticizing someone else is easy. Letting someone else criticize you is extremely difficult to accept.

Peter

Posted mine and a clear method of how to build some bank when trying to pick a major bottom...just keep nibbling away and banking until the overwhelming evidence says stay in the trade for the directional move.
I wasn't really criticising either....if I was, he would have known about it !

 

[samirs]

So are you saying that discussion on a trading forum wont improve his trading? Surely not.

Would you go to jail to learn how to be a model citizen?

no I did not say that....but that's fine...whatever floats your boat

 

[tar]

Posted mine and a clear method of how to build some bank when trying to pick a major bottom...just keep nibbling away and banking until the overwhelming evidence says stay in the trade for the directional move.
I wasn't really criticising either....if I was, he would have known about it !

Me neither , just was discussing his scaling-in techniques and how an another approach -may- be helpful ....

 

[BSD]

Some words on averaging down by an ok trader:

 

[Liquid validity]

Good point. It take guts to post your trades, then take a beating if it all goes wrong. Let's give Doomy some credit for putting himself out there and posting his trades.



Peter

That is a fair point it has to be said.

 

[Liquid validity]

As I've been one of those who could have been perceived to be
too critical in this thread, while not putting my own neck on the block,
here it is, warts and all.
Details blanked with cut tool in MS paint, too time consuming to
brush each detail out.

My 2013 automated trades.
All trade statements 02-13 to 10-13
have net profit of 596 points, which is to be frank - sh1t.

strike 49%
RR 1.4
239 trades

Thats the whole point though, I don't care in the slightest about posting
crap stats, or any criticism.
The point is - the approach was consistent, and risk was consistent.
For 2013, consistently mediocre as it happens...

Main trades are EURUSD.
USDCHF and GBPUSD trades were me testing MBT rebates.
Trades stop in Oct 2013 as I cancelled live Ninja licence, to switch to LMAX.
To cut a long story short, I'm realising how dependent, and used to Ninja I've become.
So based on that, I have canned the automation for now - and I'm working on
a changeover to YM with Ninja ATM and discretionary entry as I just can't
program the efficiency I want.
If it doesn't work out, back to LMAX or MBT with the original code.

 

[Benj1981]

Good trading to you BSD :clap::cheesy:

losers do average losers - he right!

 

[BSD]

Hey mate 600 points is 600 points innit !

And your expectancy, win rate with r/r, is pretty dang good too, so nothing to sniff at whatsoever I'd say, keep that up a few years and you're set mate !!!

 

[BSD]

Good trading to you BSD :clap::cheesy:

losers do average losers - he right!

Thanks mate to you too, you had me cracking up when I saw that pic and your caption, an ok trader, haha, lovely.

Thanks for making my morning.



PS for those who don't know that's Mr. Jones. Tudor Jones.

 

[Liquid validity]

Hey mate 600 points is 600 points innit !

And your expectancy, win rate with r/r, is pretty dang good too, so nothing to sniff at whatsoever I'd say, keep that up a few years and you're set mate !!!

Yeah I know what you mean, truth is I'm just not happy enough with it.
2012 was roughly 3 times better.

I knew lumpy returns came with the turf when I started this,
in practice, 6 months of treading water with no progress is something else,
which is exactly what happened Q1&2 2013.

Tried using Multicharts with LMAX (multi is stumbling block for me).
There are 3rd party API bridges for Ninja / LMAX, but TBH I'm wary
of 3rd party external code for obvious reasons.
Maybe with Ninja 8 I can increase the efficiency, have to wait until NT8 is out though.
So in the meantime, a parallel back up plan seems in order