Trading Tips & ‘Toolbox Chat’ (incl. tips if poor eyesight?)

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Viewing 15 posts - 16 through 30 (of 70 total)
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  • 02/07/2023 at 10:53 AM #209289
    shug

    I have been teaching her how I trade, if anything happens to me and she can’t run the business there is a good chance she can make it in the market

    part of her learning is to come here and read the posts!

    02/08/2023 at 6:04 AM #209331
    PeterSt

    I cannot imagine not to be in the living room and keep in touch with my trading/trades.
    The telling about the figures and how “red” is to be interpreted is a matter of biting the dust at first. Green somehow never needs explanation. 🙂 🙂

    1 user thanked author for this post.
    avatar shug
    02/08/2023 at 6:29 AM #209332
    shug

    I had the computer up stairs in my spare bedroom, I took the bed out and turned it into a workshop for my projects (my tools were starting to rust in my outside shed).  then used the other side of the room for my trading (no distractions like T.V and visitors and phone calls).

    Now I moved it to the living room I’m distracted a bit but its all good.

    Still no losses as yet so trading going well.

    Not making as many trades just now, maybe 20 to 30 a day if that, being more specific and selective with entry’s now and going for more points on each trade.

     

     

    02/08/2023 at 11:18 AM #209344
    GraHal

    In between manual trades or while trades idling, try and do 1 hour per day or even 15 mins per day on coding? You be surprised  how the knowledge builds.

    I am not a career coder, and if I can do it then you can also!

    Start with the Assisted Creation Tool then you can check what code achieves what you select as required.

    To whet your appetite, attached are the current results (all £1 per point) of the 6 versions of the same System that I worked on and set running last Sunday night.

    02/08/2023 at 1:44 PM #209355
    shug

    Looking good! I will look into the coding!

    my new van broke down, a leak in the AdBlue injector, Its sprayed that crap all over the engine compartment, called citron, still on warranty so They should fix it free of charge but I have to get it to them. I need the van for the papers so I’ll need to shift gear and get it sorted. I do have a car but not designed to carry the load of papers. Busy busy bee.

    Catch up later

    1 user thanked author for this post.
    avatar GraHal
    02/08/2023 at 4:02 PM #209363
    GraHal

    I had trouble with my car yesterday also … long story, quite funny, best told over a pint and anyway it would be off Topic! 🙂

    Need to share with somebody 🙂 and also to further whet your appetite to learn coding … just dived in to check and attached are latest results on the 6 Systems same as I posted earlier.

    PeterSt will no doubt be along shortly and say … it won’t last! (killjoy! 😉 ) he may even be right, but it gives me a morale boost while it does last!!!

    1 user thanked author for this post.
    avatar shug
    02/08/2023 at 6:41 PM #209366
    PeterSt

    Haha, no, why ? Just sort all in the positive way and never look at the bottom of it !
    🙂

    1 user thanked author for this post.
    avatar shug
    02/08/2023 at 6:44 PM #209368
    PeterSt

    All right, I shall be honest. This better compares to your situation.
    See, nothing to worry about for me too. It’s only that I’m losing weight. Haha.

    02/08/2023 at 8:22 PM #209370
    phoentzs

    @Grahal An hourly algo? Don’t you usually trade in TF 1 minute?

    02/08/2023 at 9:00 PM #209373
    GraHal

    Yes 5 min and less mainly for Algos and a few M15 and M30. For manual trades I use 5 secs TF.

    But if these 6 versions of H1 Algo continue as they have started since Sunday, I may be a convert to H1! 🙂

    02/09/2023 at 8:27 AM #209384
    shug

    I like the 1 hour view, can see most of what you need on this timeframe and its ideal if you trade the 5 minute, sometimes I glance at the 4 hour and daily but my glance lasts about 10 seconds its just a glance. I do leave the 1 hour chart up with support resistance I get from the daily chart on it then watch the candlesticks forming on the 5 minute to place trades. Great way to trade and makes thinks a lot easier for me.

    Years ago I used to stick with bad trades until the market came back to them (bad idea) especially if trading too much per point. If you have enough to deal without getting a margin call and can handle the drawdown and overnight charges it can and does work but be prepared for the 1 day it goes away and doesn’t come back for weeks if at all depending on direction your trading.

    The more money in the account and the less risk per point will determine the outcome of that no stoploss approach.

    I do know traders using this system very successfully, no skill required apart from maths and enough money in the account.

    I had success with this approach myself for a time until 1 time I added and added and added because it kept going a lot further than I expected and I got that dreaded margin call. not good!

    But like everything else learn by the mistake and don’t make it again unless your prepared for the same thing happening.

     

    02/09/2023 at 8:44 AM #209385
    shug

    Would you risk £1000 to gain £10? with £1 a point.

    Just have a think about trying to get that 1 loss back.

    Chances are that the £1 a point would rise to “£5 a point’ and that’s a lot of margin and a lot of money going in the wrong direction!

    Could you handle £6 a point going 1000 points in the wrong direction in the hope it will come back soon.

    just on 1 wrong decision.

    Trade smart and don’t get yourself into that scenario its just not worth it

    US30 is around the 34 thousand, if your account had £34000 in it and you traded £1 a point without stop loses, what’s the chances it would go to zero? very slim indeed but take into consideration when you think its bottomed out 25 times before it bottomed out you would no doubt have added more a point to et out of the trade

     

     

    02/09/2023 at 9:07 AM #209387
    GraHal
    shug wrote:

    £1 a point would rise to “£5 a point’

    By taking more trades in a martingale, is that what you are saying?

    02/09/2023 at 9:18 AM #209390
    shug

    What I mean is its fine doubling up if you can handle drawdown if you cant with your account size probably not a good idea

    my mistake was  not having enough to cover margin and doubling up too quick and not realising how far the market could go against me

    02/09/2023 at 9:23 AM #209391
    shug

    Its an easy way to make money but only if you have plenty of it to back yourself up when the market stretches too far and you stick to a certain amount per point

    I have just over 8 thousand in my account now I started the challenge with £2000 only going for 3 to 5 points per trade (some I got a lot more than 5 points) just depended on the market moves.

    I started with very low amounts per point just to get confidence

    I always keep my risk low always!

    I have learned the market can do anything at any time

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