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immy wrote:I'd like to suggest a little tweak to position Sizing. Fruit Campaign starts two ways. Half of the campaigns are Fruit initiated other half, you'll find out actually start with a good Break below/above a sleeping gator. The first entry is ALWAYS a lower probability reversal or breakout. It makes sense to go the lightest/smallest lot on the first entry, as the risk of rent is higher and go double the size of that entry on the first add on and then if it permit add on more time the same size as the first entry. Making sure the 3 entries are not too far from each other. Its ok if they are too close to each other, that makes us bigger winners but too far from each other could bring our AVERAGE PRICE worse. Hope it makes sense.
keep going, keep recording and keep going forward.
Thank you for this suggestion, Immy. It definitely makes sense.
Besides the "entries too far form each other" part, I'm already applying a similar position sizing.
1st: initial entry (IE)
2nd: 2 * IE
3rd: 1.5 * IE
4th: IE and
5th entry: 1/2 * IE.
Entry: N/A + N/A + Box Add-On + N/A
Risk: 17.2 P + 74.7 P + 32.6 P + 72.3 P
Exit: Box trail
Result: 34.4 P + 10.5 P - 2 P - 41.1 P = 1.8 P, 2 R + 0.14 R - 0.06 R - 0.57 R = 1.51 R
DS: 0
About the campaign
A realy bad campaign.
The trade location for the initial Fruit was okay (Alligator on D1 was open to the upside, eWave showed Wave 3 up).
A few bars later, this signal got invalidated, but PO wasn't deleted by me (DS = 0).
Therefore, it got triggered.
I have no idea, what Add-On 1 (DS = 0) and 3 (DS = 0) were all about. Absolutely senseless ones, impulsive and located somewhere in the nowhere.
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as I'm sure you know, if you watch the H1 chart every half an hour, you're actually trading the m30 chart, if you are watching it all day long every minutes then you're trading the m1 chart ... So lets check the charts at xx.00
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
as I'm sure you know, if you watch the H1 chart every half an hour, you're actually trading the m30 chart, if you are watching it all day long every minutes then you're trading the m1 chart ... So lets check the charts at xx.00
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
Entry: Fruit + N/A + N/A + Box Add-On + Box Add-On
Risk: 25.4 P + 37.4 P + 43.6 P + 51.8 P + 38.4 P
Exit: Box trail
Result: 33.4 P + 22.7 P + 16.5 P + 8.3 P - 44 P = 36.9 P, 1.31 R + 0.61 R + 0.38 R + 0.16 R - 1.15 R = 1.31 R
DS: 0
About the campaign
I targeted the end of Wave 5. Alligator on D1 was sleeping, so not a spot with high probability here.
The Fruit signal was created with only two bars (DS = 0), the first Add-On was too late, as being based on an earlier AIMS-Level (DS = 0).
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immy wrote:as I'm sure you know, if you watch the H1 chart every half an hour, you're actually trading the m30 chart, if you are watching it all day long every minutes then you're trading the m1 chart ... So lets check the charts at xx.00
Lession learned.
Also, watching charts only every full hour reduces stress a lot. Not to mention the seduction to take impulsive decisions.
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