Posted by sschulman on 5th of May 2011 at 04:23 pm
Just thinking, if you're trading the multi-entry (40% + 20 + 20
+ 20) What percentage of the trades end up staying with only 40%?
What percentage go on at least to the next entry, ie add
another 20% at least?
Because...if a significant number of trades do go on to the next
entry, which if taking long positions, would be lower than the
first entry, then why not take a small profit on the first trade so
you're back to 0%, then take the next trade with
60%?
Susan - as per the trade history for the multi-entry system: 58%
of the trades had only 1 entry (40%), 27% had 2 entries (40+20),
15% had 3 or 4 entries. Hopefully this helps you.
Posted by sschulman on 5th of May 2011 at 06:40 pm
Thanks Yojimbo, that's exactly what I meant.
So if I decided to take early small profits on the first entry
(hoping for a pullback for the 2nd entry), I'd lose out on 58% of
the trades, most of which would have given larger profits.
That's been my biggest personal trading problem all along -
NOT cutting losses short, and NOT letting profits run.
Repeating now - I am a robot when trading, I will follow the
system, I am a robot when trading, I will follow the system.
:-)))
Susan - Assuming you were in a position to take a profit on
the 1st entry (no guarantee that you would be), there is no
guarantee that there would be a 2nd entry (or 3rd or 4th) and you
could be shut out of the trade.
Posted by sschulman on 5th of May 2011 at 06:46 pm
Sorry Philosoraptor I wasn't clear.
I meant, suppose after the first trade, the market
temporarilygoes
up. Anyhow, turns out it's not such a good idea. I was just looking
for an excuse to satisfy my emotional impulse to grab a little
money and run.
about those statistics for multi entry
Posted by sschulman on 5th of May 2011 at 04:23 pm
Just thinking, if you're trading the multi-entry (40% + 20 + 20 + 20) What percentage of the trades end up staying with only 40%? What percentage go on at least to the next entry, ie add another 20% at least?
Because...if a significant number of trades do go on to the next entry, which if taking long positions, would be lower than the first entry, then why not take a small profit on the first trade so you're back to 0%, then take the next trade with 60%?
You guys follow me?
.....Susan
Susan - as per the
Posted by yojimbo on 5th of May 2011 at 06:21 pm
Susan - as per the trade history for the multi-entry system: 58% of the trades had only 1 entry (40%), 27% had 2 entries (40+20), 15% had 3 or 4 entries. Hopefully this helps you.
thanks Yojimbo
Posted by sschulman on 5th of May 2011 at 06:40 pm
Thanks Yojimbo, that's exactly what I meant.
So if I decided to take early small profits on the first entry (hoping for a pullback for the 2nd entry), I'd lose out on 58% of the trades, most of which would have given larger profits.
That's been my biggest personal trading problem all along - NOT cutting losses short, and NOT letting profits run.
Repeating now - I am a robot when trading, I will follow the system, I am a robot when trading, I will follow the system. :-)))
.....Susan
Susan - Assuming you were in
Posted by yojimbo on 5th of May 2011 at 04:50 pm
Susan - Assuming you were in a position to take a profit on the 1st entry (no guarantee that you would be), there is no guarantee that there would be a 2nd entry (or 3rd or 4th) and you could be shut out of the trade.
Susan, I am confused. Assuming a
Posted by philosoraptor on 5th of May 2011 at 04:47 pm
Susan, I am confused.
Assuming a long set-up, if the second entry is lower than the first entry, how can you take a "small profit" on the first trade if price is now lower?
Or have I missed something? Wouldn't be the first time...
to clarify
Posted by sschulman on 5th of May 2011 at 06:46 pm
Sorry Philosoraptor I wasn't clear.
I meant, suppose after the first trade, the market temporarilygoes up. Anyhow, turns out it's not such a good idea. I was just looking for an excuse to satisfy my emotional impulse to grab a little money and run.
.....Susan
Here's the system as a
Posted by matt on 5th of May 2011 at 04:41 pm
Here's the system as a double entry system:
1st entry = 40%
2nd entry = 60%
Statistics:
the Profit factor is quite a bit higher at 41.39
% Long Wins = is 96.8%
% Short Wins = 93.2%