Yes, I averaged in backwards. My risk based on a 100k account is 1% (1k), I then broke my risk into 5 lots so my exposure was even less. I never even got close to my risk tolerance which made it comfortable, it also allowed me to be averaged in when ...

MickD's 'Common Sense' journal.

The trade above and yesterday's have opened another door, now I need to walk through and have a good look. I won't be trading 'properly' for a few days/weeks, I have some serious work to do with this, basically I'll put myself on kamikaze duty for a ...

MickD's 'Common Sense' journal.

I would add one further element to my analysis that wasn't clear in the text as such (and not clear IRT the market) is that you must know the enemy to be able to fight it. There is a passage further into the text about this also. <edit> Knowing the ...

Technical Analysis Fallacy

Nope, you understood pretty well considering I typed it out quickly Love the quote too. Another analogy would be to not keep crossing the road to change busses, while the bus you're on may not be heading your way at this moment (it may have to ...

Caution: Math Geek at Work

A few things from fti in the TA fallacy thread are starting to sink into my subconscious and are now starting to come forward the more I analyze the charts, I'll try to explain. One method I exercised the other day was buying in in reverse to rescue ...

Caution: Math Geek at Work

Thanks alexfot, we'll see, looking forward to your entry. I'm probably still missing something important but unless I get my 'understandings' out there for examination and discussion I'll never know. cheers, Mick.

Technical Analysis Fallacy

hehe, I hear you Cap'. It was a bitch although I scraped through with a small gain. I too am changing tactics a bit, particularly with MM. I have also been in the 5-15m charts mostly and spread kills but whadyado?. I 'try' to get them profitable ...

Caution: Math Geek at Work

Ok, I'll go first. First of all Leighsww, my deepest condolences, stay well. My brief understanding of CH 1, Laying Plans: Know the market: Before trading we must have a plan, to develop our plan/stratagem we need to understand the market we are ...

Technical Analysis Fallacy

Post away Alex, I'm just getting mine together now (busy weekend), I was going to quote some of the original text as well but I think a broad overview of the chapter would suffice just to get the 'meaning' down and get the conversation rolling. ...

Technical Analysis Fallacy

I think I'm beginning to understand this theory, I have even used it in the past week or so to save trades and even produce a profit. I think one thing to point out here is that yes, you can buy into a bad position BUT, keep in tthe context of the ...

Technical Analysis Fallacy

Nice story M.A.C.Doug! that's a pretty good example of what Cap' is talking about. I guess the next step is how do we tip the scales in our favour?? That will be the 'edge' we need, any thoughts??

Expectancy is always zero

Nice thread Cap' , definitely food for thought. Personally, I abore stops and tp's, I do believe in 'emergency' stops though, just in case the lights go out you don't want your book to dissolve without your help at least I will set them if I ...

Expectancy is always zero

Well, whadoyaknow! it worked, I walked out of this with a tidy profit! I cant post the chart just now (different PC) but basically I ran out of time to watch so I set a take profit stop just below support so my first unit made about 20 pips. I ...

MickD's 'Common Sense' journal.

Don't count pips, it'll send you mad! — I will no longer be posting pip gains anymore, not in the pure profit sense anyway, they no longer mean a great deal to me anymore and I'll explain. I won't go into great detail just now but while ...

MickD's 'Common Sense' journal.

^^Ditto that about the market...sheesh! I got burned yesterday. oh well. All the best for Chrissy and the New Year guys. I think I might take it easy and work on my MM strategy for the new year, then I think I'll go live. Cheers, Mick.

pipprincess' trading journal

Yesterdays trade update: Small disaster! Down 156 pips. That's my biggest loss to date (with this account ). I'm still positive for the week (+1% of account) but I would normally not let this happen - lack of patience and too much hope I'm ...

MickD's 'Common Sense' journal.

The Entry: — Ok, this is the start of my strategy outline. I'll post these charts to give a picture of how and why I might enter a trade. As with any trades, nothing is certain but you must have a reason to enter any market. Every set up is ...

MickD's 'Common Sense' journal.

The rules part is a bit loose at the moment (they are more embedded in the strategy I think), it's almost impossible to have hard and fast rules trading PA but I'll try to firm them up and put them on paper, then we can compare, I'd like to here ...

MickD's 'Common Sense' journal.

Today's trade: I'm in long on the A/J pair today @ 98.93 A bit risky looking at the chart really but I may may a few pips on the run up to resistance at 98.30-ish, if it makes it past there I'll buy in again and see how we go. I'm really starting to ...

MickD's 'Common Sense' journal.

Like most days, between 3-4pm Aussie time the market makes a bit of noise (due to the close of Aussie and the impending close of Tokyo I'm assuming) so I had a chance to do some active trading. I set my stops for the first 2 trade to the buy in of ...

MickD's 'Common Sense' journal.