1) I enter each lot with the same size. So, if I am trading position sizes of 0.8 standard lots, each of my entries will be 0.8 std lots. So if I make 50 pips on the first entry and take it off in profit, then enter a second time with a 50 pip sl, ...

Multi-Lot Multi-Timeframe Position trading

Yes, my example may not have been the best, but the point is, we are always trading with incomplete information. If we have good information, we can be more confident that a strong consistent trend is real and will be sustained and trade it more ...

Multi-Lot Multi-Timeframe Position trading

Fear is the most powerful force acting on a human mind. The euphoria of greed is probably a close second. Fear will prevent us from achieving our goals in the markets, even when we really know how. Anything that removes our fear while leaving a ...

Multi-Lot Multi-Timeframe Position trading

I agree that oil is risky. It's price is not being determined by free market forces. I like the cheap gas (petrol), but I don't trade things that are obviously being manipulated. Oil price is obviously being manipulated by the Saudi's. I'm more of a ...

Multi-Lot Multi-Timeframe Position trading

You might be overthinking this. My advice is to just follow the trends. It's simple and effective. If you don't understand why something is trending, you can try to study it some more, but there are things that we can never understand due to ...

Multi-Lot Multi-Timeframe Position trading

Cool. Looks like we have some trading coming up finally. It comes in waves. When the trading is good, we trade. When the trading is bad, we (fill in with your own favorite hobby, pastime, and/or vice). Gaps happen to those other guys. The ones who ...

Multi-Lot Multi-Timeframe Position trading

I agree 100%. If GPB is strongest and EUR is weakest, then the EG short makes the most sense for me atm.

Multi-Lot Multi-Timeframe Position trading

Thanks for the charts Lem. I have two lots on the EG short now. They are ahead a little, first lot +33, second -2. I've taken the first lot off for profit already, so low risk entry attempt. That's the only trade I have running at the moment. GA and ...

Multi-Lot Multi-Timeframe Position trading

Yes, until I get the third lot on and have no risk, I consider the trade still in the entry stage. My trades haven't been trending well the last couple weeks and I can't force it. I'm in full defensive mode now, taking the first lot off for profit ...

Multi-Lot Multi-Timeframe Position trading

Great post MM. Of course we need to set our stops to protect ourselves going into the trade, but we need the confidence to stay with a good solid system through good times and bad. It's human nature to give up on a trade just before it takes off in ...

Multi-Lot Multi-Timeframe Position trading

My Monday list is Short:AN,EG Long:GCad,NCad,UCad. Monday is usually a slow day for me. My only new position so far this week is GCad long. Trading a very minimum risk position today as described in the 12 step method earlier. Taking first lot off ...

Multi-Lot Multi-Timeframe Position trading

Yes, I see. In some ways, this is the same as calling tops and bottoms of short trends in price. If you can do that consistently, I'm sure you could make lots of pips. I've seen people cherry pick past charts to show how they can do it, but I've ...

Multi-Lot Multi-Timeframe Position trading

You are looking at a short on AU and GU? You didn't say which way. The H4 is firmly trending up on AU. I wouldn't consider a short until it hits a top and starts back down. Daily is still tending up on GU as well. I'm not clear what you are trying ...

Multi-Lot Multi-Timeframe Position trading

Sure, that's fine. I'm sure there are many methods that work well. I haven't seen two winning traders that trade exactly alike. I suppose that in the end, each must find their own path. Best success. G

Multi-Lot Multi-Timeframe Position trading

I'll try to sum up a bit now. I'll list this out step by step as well as I can, and the reader can modify it as suits their trading style. Each trader will trade it a bit differently, but I'll try to give out a roadmap to at least get anyone ...

Multi-Lot Multi-Timeframe Position trading

OK, Let me know how that works for you.

Multi-Lot Multi-Timeframe Position trading

Yes, there is a bit of a conflict there. As you pointed out, we want to enter a new lot when momentum is increasing as signified by all timeframes lining up, but If the market will offer us a better price for waiting a bit, we want the better price ...

Multi-Lot Multi-Timeframe Position trading

Second lot is on EG short. I won't take a loss on this one. I don't have to. I'll exit before it loses. If I get to the point of wanting to put a third lot on, I'll probably take the first one off in profit to finance the trade and remove all risk. ...

Multi-Lot Multi-Timeframe Position trading

I'm sure some here would like to give your EA a try. Feel free to post it if you like. I agree that the book is a little long and wordy, but I've been accused of the same fault. I don't agree with everything in the book, but lots of it I do agree ...

Multi-Lot Multi-Timeframe Position trading

All Good Questions. Yesterday I was not taking GU short because we previously had 3 up weekly candles in a row, the daily 5ema was above the 10 sma, and the rsi was above 50%. Now I see the prior H4 candle went up 70 pips overnight, so a short would ...

Multi-Lot Multi-Timeframe Position trading