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Search: Posts Made By: worldwary
Forum: Trading Journals March 29th, 2012, 01:11 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
What have you been doing today in terms of...

What have you been doing today in terms of scaling in/out?
Forum: Trading Journals March 28th, 2012, 04:03 AM
Replies: 2,157
Views: 401,416
Posted By worldwary
The major rule that PoP uses for scaling in is to...

The major rule that PoP uses for scaling in is to add once the position has "proven itself" to be right. If you're trading a breakout, for instance, add after price has broken far enough through the...
Forum: Trading Journals March 27th, 2012, 01:37 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
I've read the Phantom of the Pits book and he...

I've read the Phantom of the Pits book and he points out that this "adding to winners" rule is better suited to longer time frames. With the smaller time frames that you are trading it would be...
Forum: Trading Journals February 26th, 2012, 12:04 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
I am not opposed to scaling in and out as a...

I am not opposed to scaling in and out as a general matter. The only thing I'd caution about is inadvertently creating a system that feels better psychologically but is in fact designed to lose.

I...
Forum: Trading Journals February 24th, 2012, 10:50 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
This may be a more difficult goal than it seems....

This may be a more difficult goal than it seems. I've experimented with a similar "runner" strategy but could never get it to work because the risk:reward is inherently skewed.

Let's say that 10...
Forum: Trading Journals December 1st, 2011, 09:01 AM
Replies: 2,157
Views: 401,416
Posted By worldwary
To add to that, a worse problem is when you see a...

To add to that, a worse problem is when you see a good longer-term setup, but trade it with too much size as if it's a scalp. This is a recipe for disaster. You will almost always get stopped out.
...
Forum: Trading Journals December 1st, 2011, 08:54 AM
Replies: 2,157
Views: 401,416
Posted By worldwary
I'm glad you brought up the concept of knowing...

I'm glad you brought up the concept of knowing what kind of trader you are. This is an issue I've been dealing with lately and it likely explains a lot of the difficulty I've had in the past.
...
Forum: Trading Journals August 26th, 2011, 07:32 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
PandaWarrior, haven't heard from you in a while....

PandaWarrior, haven't heard from you in a while. Have you been on vacation?
Forum: Trading Journals August 19th, 2011, 01:39 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
Yes, generally agreed. The earliest you can get...

Yes, generally agreed. The earliest you can get into a trend is the second dip as that's the earliest point that you've had a confirmed trend (a HL/HH or LH/LL pattern). From that point there's no...
Forum: Trading Journals August 19th, 2011, 09:39 AM
Replies: 2,157
Views: 401,416
Posted By worldwary
There are unfortunately some days that can give...

There are unfortunately some days that can give you lots of picture-perfect trading signals that all turn into losers. Those days are killers. Tuesday of this week was like that for me.

A...
Forum: Trading Journals August 14th, 2011, 06:11 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
Thanks. I'd never thought of this method of...

Thanks. I'd never thought of this method of determining targets before. Have you tested this method to see how effective it is?

It could be that price swings tend to remain within a certain...
Forum: Trading Journals August 14th, 2011, 05:06 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
What daily range do you use for this purpose? The...

What daily range do you use for this purpose? The prior day or the current day, or maybe some average of the last X days? If the current day, what do you use for trades that occur early in the...
Forum: Trading Journals August 6th, 2011, 12:53 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
I have observed that there are a few aspects of...

I have observed that there are a few aspects of the market that change from day to day and can also oscillate in longer-term cycles. For instance:

1. The size of the typical leg of a trend move.
...
Forum: Trading Journals August 5th, 2011, 09:22 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
Good job. It looks like you've made real progress...

Good job. It looks like you've made real progress this week in terms of letting winners run longer than you previously would have.

The 12 range chart that you use is pretty similar to the 512 tick...
Forum: Trading Journals August 1st, 2011, 08:52 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
Thanks for reposting those trading steps. I've...

Thanks for reposting those trading steps. I've seen those a few times over the years and each time I read them, I see something new. Recognizing myself at embarrassing points of immaturity basically....
Forum: Trading Journals July 27th, 2011, 07:29 PM
Replies: 2,157
Views: 401,416
Posted By worldwary
[/URL] Good job on the winning day. My one...

[/URL]

Good job on the winning day. My one comment is that I'm not a fan of this two-lot, scale out-type method. The additional ticks from the runner seem like a "free" trade only when the trade...
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