The previous two cases were very similar. both quickly went into a losing position soon after entry threatening trading capital. The conclusions were also similar, cut losses short or cut losses very short. This final subsection is quite different ...

Multi-Lot Multi-Timeframe Position trading

I'll continue. That last section, exiting losing trades on a bad entry was a bit long and tedious. The conclusion was to cut them short. How short is left up to the trader, but short enough so that a large loss is never sustained in that situation. ...

Multi-Lot Multi-Timeframe Position trading

Thanks AG. Yes, I get your drift. We are trying to make the best decisions we can here with incomplete information in the face of a market that is riddled with randomness. I'm pleased with our results so far. I'll just continue on and we'll see ...

Multi-Lot Multi-Timeframe Position trading

Glad to see you are doing well Nefser. Yes, we have both been in the UJ trade for a while and it shouldn't come as a shock to anyone that we all made good pips in it lately. I'll try not to get quite so excited when a good trade takes off for me, ...

Multi-Lot Multi-Timeframe Position trading

Yes, as I said, I understand your points and I will give it serious consideration. Beyond the security concerns, there is the concern that some would just try to shortcut the method and follow my trades blindly. There is much to consider. Best ...

Multi-Lot Multi-Timeframe Position trading

Thanks to all for the good feedback. Moving on in our study of exits. I propose there are two ways to exit depending on your trading style, mechanical or discretionary. If your trading method is mechanical and you'll always exit when a certain ...

Multi-Lot Multi-Timeframe Position trading

Yes, it's a fair comment and I have considered it. Security is the concern as you have noted. I'm ok with the level of participation. Those who want to follow along are welcome to. Those who decide it's not worth their time are entitled to their ...

Multi-Lot Multi-Timeframe Position trading

OK, good. We'll combine those into 6) Selling to raise margin or maintain equity curve (Money Management reasons) That's a good list of whys to exit. Tomorrow we'll start going through the whens and hows of exits, the most interesting parts. Our ...

Multi-Lot Multi-Timeframe Position trading

OK, sure. Perhaps we are trying to raise our margin level. That's a good one.

Multi-Lot Multi-Timeframe Position trading

Expert Exits Several years ago, before Egypt fell into chaos, I decided I wanted to see the pyramids. They are after all the only surviving wonder from the 7 Wonders of the ancient world. I wanted this to be a First Class adventure all the way, so I ...

Multi-Lot Multi-Timeframe Position trading

I agree 100%. I've gotten lots more out of this thread than I have put into it. The questions and comments have caused me to re-examine things that I was just ignoring or taking for granted earlier. We are all on the learning curve somewhere. Here's ...

Multi-Lot Multi-Timeframe Position trading

Way to go AG!

Multi-Lot Multi-Timeframe Position trading

I think most readers of this thread probably got bored when they found out it was a get rich slowly thread vs. a get rich quick scheme. That's ok. The few that are left are the hard core traders that never give up. They are the ones that will make ...

Multi-Lot Multi-Timeframe Position trading

Wow, I just made another ton of profits on my long Yen trades. I've been suggesting these long Yen trades for both technical and fundamental reasons since back in March in this thread. I have actually been trading the Yen long since late 2012 when ...

Multi-Lot Multi-Timeframe Position trading

Hi AG, I set the TP at a number that I don't think I'm likely to hit in a week or so in the trade. In this case the NJ Long trade was taken a week ago and TP was 400 pips. It was hit at 93.038 which was close to the peak price hit back in Oct 2007. ...

Multi-Lot Multi-Timeframe Position trading

Yes, that's one option. I've considered moving to London, but it's almost impossible to get a good steak there and I really don't like curry. Perhaps the tide is turning. Perhaps some people have decided they would rather take their chances at ...

Banning All Retail Forex In The United States?

Hit one preset TP on NJ during the night. I always set a very generous TP on a trade when I put it on, but I rarely hit them. When I do, I'm almost always taking profit out on a local maximum. Making money while sleeping. I love it when a plan comes ...

Multi-Lot Multi-Timeframe Position trading

So you want to be financially independent, like a doctor, or a lawyer? How long do they have to study, 6 years, 8, 10? How much does their education cost, $40,000 or $80,000 or $100,000? There may be a few savants out there who can get rich in a ...

I lost 7k dollars and I am in a massive pain

Thanks Myo. Glad to have you aboard. G

Multi-Lot Multi-Timeframe Position trading

Good point. A very wealthy trader once said, I made most of my money by doing nothing. Another said, I made most of my money sitting on my hands. Here are nine surprising things Jesse Livermore said regarding excessive trading: 1. “Money is made by ...

Multi-Lot Multi-Timeframe Position trading