The Zen art of trading - Page 3
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Thread: The Zen art of trading

  1. #21
    SUCH a great article surprising, keep submitting your journey...

  2. #22
    Very intriguing indeed.


    A proposal to the drawdown, you might wish to consider upto 10%. After 3 poor trades, you reduce your position with every trade. If you get down to 10% drawdown, you stop trading and do forex trading for a little.
    Similiary, when your using a hot winning streak, you might consider raising your standing from more then just 2 percent. Only a thought.

  3. #23
    I've since realized only with a 6 percent drawdown is absurd. Despite 2% risk, that means I'd be restricting myself from having any more then 3 leveraging transactions in a row. The amount I'd be risking to achieve 6 percent would be under 1 percent... to me, that's way too small of a risk for my own account dimensions and system.

    My difficulty is that I knew the drawdown was an embarrassing plogical area for me that needed to be addressed. Suddenly it occured to me that I was trying to get rid of the plogical pain by trying to get rid of the drawdown. The key is approval, not elimination. I want to understand what is ordinary, in order to accept it.

    I am doing studies into running monte carlo simulations using my win/loss ratio with variance plus a egy to cut down lot dimensions following a series of losses. After these simulations are complete, and that I accept the new risk and drawdown estimates, and incorporate scaling into my egy, I will know I've filled another major difference in my overall methodology - and advance the confidence level in my system.

    I'm currently almost finished reading The new market wizards. The contradictory nature of the greatest traders in the world in stating what they think to be appropriate is that a clarity I needed. I see it on the board at forum (from old and new alike), and that I see it from the top traders in interviews. The message?

    Nobody is right at exactly what the ideal way to exchange is - you need to find your own path which works for you. Take anything anybody has to say as an opinion with a massive grain of salt.

  4. #24
    This is a new demo account I started for September. My goal for October will be to maintain drawdown under 6 percent. This generally means I have to reduce risk by lot size, or lessen the total amount of large prevent trades. I made an error in my first couple of trades, I overlooked a SL on a trailing stop, which was the result of the 12.59% drawdown. I will not do this

    I have (and do trade) a live account, but stopped with it months ago to further perfect my personality before I go live again. This takes discipline, a skill to further hone. Knowing I might be creating this live rather is a emotional challenge, and I love rising up to it.

    I agree and disagree about the opinions of demo. I believe that in the event you have experienced a margin call, and felt that the anxiety of loss, and have overcome it, then demoing is far more difficult then a live account. I feel like that because basically you're trading for _nothing_ other subsequently perfecting your skill - and taking as much time and patience to take the right trades on demo takes a lot of dediion.

  5. #25
    Only a little bit of background on my trading methods.

    I am mostly a price action trader. Trend lines, support/resistance, fibs, candlestick patterns, sometimes a few EMAs. I also trade on somthing that I've found very strong, which I heard from DownRiverTrader - value. Areas where price gathers, which can be mutual points of equilibrium. These regions go by many distinct labels, but are extremely powerful in telling you where regions of approved value (majority agreed price) are - price acts on these regions. I generally use 3 percent risk in my transactions.

    Market Profile perhaps captures the essence of the value method, but without the quantity. I do not trade with market profile, and only have a basic understanding of its flaws. I also can't tell you just what value trading is, much of it's instinct, and just understanding how to read the charts after many long hours, and unfortunately much to all the stuff given by DownRiverTrader is no more available.

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