Stop loss or % of capital?

[Splitlink]

Glad we have some experts on something, at least, even if it's washing up. Not too keen on German stuff, by the way, ever since I was 3rd mate on a German built freighter. Discharging a locomotive with the heavy lift derrick a welded eye-piece tore off the deck plates, to which one of the blocks was secured. The steering gear was very unreliable, too, like some of the posters on here.

Other, less dramatic, experiences have happened to A-class Mercs and AEG washing machines. Dishwashers? we stick to Zanussi- we like the sound of the name.

Split

 

[chump]

LOL...likelihood is they are all (German & Italian) built in a factory in Spain I kid you not !

Nice example Charlton ...take one good brand dishwasher , mix with one reasonably interested (motivated) person who can read and you would get the expected end result the vast majority of the time. Substitute one person who wants the end result but cannot be bothered to do the learning process and you get what you describe ...how like trading !

 

[charliechan]

Kunal

There is another new thread on stops "Why don't we keep stops", which you might find useful.

I have a space in my kitchen where I had planned to put a dishwasher. Some of my friends had them and I saw adverts saying how a dishwasher would save me time and produce the most perfect results. I pondered for a while. I examined all the brochures - that Z*****I brand looked great - sparkling, latest technology etc. However I watched one of my friends loading the dishes after a dinner party. The first thing he did was to rinse all the plates before he put them into the machine. Why did he have to do that I asked when this state-of-the-art machine promised it would do the job to perfection ?

I helped remove the dishes after the cycle and most were clean, but there were the odd few where the machine had failed to hit the mark. In fact one of the rather delicate antique wine glasses had been chipped by the automated programme. I guess it wasn't meant for such a machine.

The space in my kitchen is still there. I decided to save my money and wash the plates by hand. It takes a little more time, I know, but everything ends up sparkling clean and undamaged. At least I still have my full dinner service !

Charlton

get a Filipino.

they are cheaper, replaceable, bring their own cleaning stuff.

if you are nice to them and tip them now & then, they double as vacume cleaners, irons and ovens!!

bargain! SOOOLD!


:cheesy:

 

[SOCRATES]

Glad we have some experts on something, at least, even if it's washing up. Not too keen on German stuff, by the way, ever since I was 3rd mate on a German built freighter. Discharging a locomotive with the heavy lift derrick a welded eye-piece tore off the deck plates, to which one of the blocks was secured. The steering gear was very unreliable, too, like some of the posters on here.

Other, less dramatic, experiences have happened to A-class Mercs and AEG washing machines. Dishwashers? we stick to Zanussi- we like the sound of the name.

Split

Ahoy there ! Nice to meet an ex deck officer, I also sailed as 3rd in my time, with Hudson Steamship, of Brighton. Middle sea routes. Who were you with ? Everards ?

In our middle sea meanderings we called at German Ports.Among the junior officers we had a standing bet ~ bottle of scotch as to who could wind up the Gerries the fastest and get them to give a display of shouting and swearing. Of course, I always won.

I can recall a memorable occasion in the port of Emden. Here the old man wanted to tie up stern to. The scope was about a cable. The bet was on....to make them blow their fuses....

A Gerry jolly boat drifted astern and they started to shout "MR MATE.......YIU GIVE US THE WIRE.....JA......YOU GIVE US THE WIRE....NOW !....JA ! "

(me) .........."SORRY CAN'T HEAR !"

(them, now getting really agitated) ...........YOU GIVE US THE WIRE ...NOW !"

(me) ...tongue in cheek...and knowing what would happen....and after the prize....I now turn round to the bosun on the winch and say "Norman, let them have it ! " --- "reel it out , Quick !"

The wire is lowered into the Jolly Boat and the Gerries make for the pier with the eye of the cable on board....and I take the handle of the winch from the bosun and reel out and reel out....

And of course the wire is very heavy and forms a bight underwater.....until they get to a point at which they can progress no further....and now they start SWEARING and CURSING (can you believe it <TIC>)and start to get really really agitiated, and going backwards...

So now I reel the wire IN to take up the excess slack, and they are able to make some more progress towards the mooring but not enough.....and the weight ot the cable makes them drifft back again.....again a lot of SWEARING etcetera....

The Old Man comes over the poop rail and asks what in hell we are doing.......

To which we reply we are only following instructions from the stevadores...They asked for the wire, and we gave it to them....and this is the result...and that it is not prudent to contradict because of Union Rules, you know....

So finally the Gerries get into a real steam of a temper and drop the wire.....

After a lot of shouting back and forth.....they consent to take a line....that they run to the bollard and haul the cable ashore and make fast.....

And I get the bottle of whisky again.....and we all have a party !

These memories make me feel nostalgic.....

"My wife has just brought in the coffee..."

And now a sing song...."all together now lads"..

..All the housewives love a sailor,
just home from the sea, tra la la,
All the HOUSEWIVES LOVE A SAILOR, (loud)
and bring him a cup of TEA...
Tra la la, Tra la la, etc.,

 

[fxmarkets]

hmm, on the subject, now then on the odd occasion when we have run out of dishwasher powder,tabs, whatever mrs fx has used washing powder ( i thought it odd, but didnt know or taste the difference) now then this one time I was loading the dishwasher and lordy no dishwasher powder, shouts to wife,(like you do in an attempt that she might conjur some up somehow out of thin air) the reply was we have run out use the persil... specific instuctions, great.

anyway under sink hmm, bold washing powder and persil washing up liquid. hehehe, i stared at the options, pausing something internal produced a confused choice feeling. Only for a second, use persil was the call, use persil it was. jolly good squeeze, door shut, job done, modern man in action.

10 minutes in as i passed through the kitchen , glancing at the dishwasher, i knew straight away as I saw bubbles being pumped out through the seams of the appliance door, all was not as it should be for having used the persil.

Amusing yes, the kids found it funny and its one of those occassions which you would perhaps expect or excuse if the actions had been those of an eager child trying to help..... adults should clearly know better.

the dishwasher wouldn't work after that.

guilty as charged.

fortunately covered on insurance for silly accidents such as that. so a new one was delivered.

Anyway carefully reading instructions for the new machine, as I used to pre rinse, it clearly states "There is no utility in rinsing" so I dont anymore.

Then theres the washing machine and the effects that an allen key can have on the structure of the metal drum after going through spin cycle...... replaced....

 

[blackcab]

Washing up is good for the soul, and that's that

 

[Splitlink]

I'm not allowed to touch the dishwasher.

Split

 

[jimmy1jag]

I'm not allowed to touch the dishwasher.

Split

I wish I wasn't. I hate unloading the thing! Makes a useful cupboard for dirty dishes though.

Curiously, I found mine didn't like Polyfilla! Can't imagine why! But then again, I suppose you shouldn't use the Magimix for this (mixing the aforementioned powder with water) anyway

 

[tunnel1x1]

Common Understanding

I hope I'm not too rude in interrupting the diswasher thread with my first post, but back to the prior discussion.

Soc, let me say that I have enjoyed your posts and am grateful that you are willing to share. I believe your insights on right on the mark, since I have traded long enough not to be a newbie but have not become experienced enough to be profitable. Your points are very well taken and remind me much of what Mark Douglas points out in his books. However, I did not appreciate that subject or even want to hear it until I spent enough time in the valley of despair to know that something ain't working right. If Kunal is somewhat new to trading, he might have not yet gotten to the point of appreciating the truth of your insights. Therefore, keep posting. It is not falling on all deaf ears. Some of us, perhaps many, are very receptive.

Regarding your statement about "tight stops", in order to better understand your points, I would like to come to a common understanding about what you mean. For example, would you say that a person who had a $100,000 USD account, who was trading 1 contract of cotton and planned to position trade - holding his position over many days, would have a tight stop if it was placed 200 points away? That would amount to a $1000 USD risk but yet only be 1% of his account at risk. For a person with a $10,000 dollar account, that would be 10% risk. In other words, is your definition of a "tight stop" subjective or is it an objective standard.

Exploring further, should the person with the $100,000 account use a 50 point stop, for a loss of $250, as a tight stop, or something even closer? Also, what about the concept of volatility. If the 10 day ATR of cotton is 100 points, would a 50 point stop be too tight?

I have always wondered if your position about tight stops works best. However, there are so many experts who say that amateurs use "tight stops" and suffer big draw downs because of getting stopped out so much. For example, Chuck LeBeau, fairly well known at least in the States, advocates stops based on ATR, which tend to be wide. Likewise, Chick Goslin uses very wide stops. However, I understand that Paul Tudor Jones tends to have 70 - 80% losses, so he must be using very tight stops.

I like your concept of better timing and entry with tighter stops since it would keep losses down. But, in order to understand each other, we need a definition of what tight is - objective or subjective depending on account size, etc.

Mike

 

[Kunal]

>My view is that you have an attitude, a bad one.
Today must be a blue moon, you actually managed to guess something right.

>This attitude is one of ungratefulness and disrespect.
Absolute b*ll*cks and more BS from you again, as usual.
I have thanked everyone who contributed at least thrice. Read the first 3-4 pages again. I'm very happy you're posting, because more people will read the thread and judge for themselves just how false your statement is.

>Neither will serve you in your endeavours, as you doom yourself to failure as a consequence.
I have not the slightest interest in sharing your past, present or future in any way as your fate is your own.

>Good Luck to You, because you certainly need it, until the penny drops one day, or not.
I wish you the same.

>In contradistinction to others, I am not prepared or willing to engage in diplomacy. I give you the facts, brutal, and to the point, that's all.
From then on, it is all up to you, sink or swim.
So you had better take swimming lessons fast.
In case you did'nt realize, I'm ALREADY profitable. I just need to stop the short term trades.

>And while you are at it, washing your mouth out with strong disinfectant will not do you any harm, in fact it will do you and all of us a lot of good.
I did not respond when you called the thread a "wind up". (Post #19)
I did'nt respond again, when you ridiculed my "discovery" of rhe NR4, saying that it needed to be patented and the exchanges would be forced to close, and the end of capitalism. (Post #98)
Neither did I respond when you tried to drag other members into supporting your false and ridiculing posts and even tried to hide behind gareth's post. (Post #103)
I've given you a lot of rope and you still try your luck.
Since you're so full of BS, you need to have a few baths in disinfectant, at least it would remove the telltale warning stench that could possibly alert people to BS.
Who knows, someone may actually try to believe you, someday?
Keep posting.
The more you post, the faster people know what you really are.


Hi Charlton,
I will defnitely read the thread you mentioned. Was on my way to post on your entry strategy thread.

 

[RUDEBOY]

O.K. then, dudes. Little example here....

Bloke 'A' uses tights........tight stops that is.

Bloke 'B' is a slacker........let's the market 'breave'.

Both geezers are of equal ability and both have to trade the same market and have to buy in at exactly the same price. Both have the same exit in mind. Bloke 'A' uses a ten point stop and bloke 'B' uses a thirty point stop.

The market tanks 25 pts and then goes on to hit thier preferred targets.

Who is right and who is wrong?

 

[contrakt]

right and wrong?

On this one trade account B grows while account A gets hit.

 

[RUDEBOY]

Hello, Contrakt. There is the commission debate here, but there is a different answer. Personally it's the one i believe to be true regarding stops.

Good stops accompany good entry. I'm talking about S/R and timeframe.

Markets are not always driven exactly between these two.

There is a fine balance between geezer 'A' and 'B'

Be a little too extreme either way and you start to become uneconomical.

Just a thought.

 

[RUDEBOY]

I forgot to mention that geezer 'A' buys back in after his stop was hit first time round. I am a silly Billy, aren't i? But that's if he's got the balls and doesn't start panicking?

 

[millsy500]

Glad we have some experts on something, at least, even if it's washing up. Not too keen on German stuff, by the way, ever since I was 3rd mate on a German built freighter. Discharging a locomotive with the heavy lift derrick a welded eye-piece tore off the deck plates, to which one of the blocks was secured. The steering gear was very unreliable, too, like some of the posters on here.

Other, less dramatic, experiences have happened to A-class Mercs and AEG washing machines. Dishwashers? we stick to Zanussi- we like the sound of the name.

Split

Thats where everyones going wrong. If it was a portsmouth made ship,and i was doing the welding, and i am an expert btw, maybe it would'nt have tore off!
Buy British!

Millsy

 

[RUDEBOY]

"Buy British"

Millsy! Do you realise you could have people burning the Union Jack in Finsbury Park for a statement like that?

But, i like it matey.

 

[RUDEBOY]

And here's the crazy twist..........You'd be locked up!

YYYYYEEEEAAAARRR........HHHHAAAA!

 

[fxmarkets]

"Buy British"

Millsy! Do you realise you could have people burning the Union Jack in Finsbury Park for a statement like that?

But, i like it matey.

Union jacks? aint none left in the country is there? I mean you cant fly them from your property or anything because people take offence..... or they have done.......

i havent seen those cartoons which have been causing a fuss....... anyone seen them ?

 

[RUDEBOY]

Madness, and i don't mean the pop group.

 

[fxmarkets]

hmmm the US thinks our dealing with these matters is a bit soft, in some of their papers they rename London, Londonastan... lol. cant think why..... who'd be a copper with sense of purpose ehh, they must go home and beat the hell out of something....