[The Pip Thief]

Got stopped out but over all very fine example on risk management and how to scale in without getting hurt or turning your winner into a loser.

The Pip Thief

[sleepy v2]

Originally Posted by The Pip Thief »

I need a program for analysis of position sizing. Like one that will help me find out the best bet size.

Take a look at Market System Analyzer (MSA). You can find it via google.

sleepy

[The Pip Thief]

Hello Sleepy,

I was a little sleepy there so it took me some time to reply. No I have had some personal issues to deal with and did not log on for some time now.

I went and checked them out. I am undecided between Stator and MSA.

If I could hear some feedback from users on both of them I would greatly appreciate the help.

TY

The Pip Thief.

[The Pip Thief]

Hello Sleepy,

I was a little sleepy there so it took me some time to reply. No I have had some personal issues to deal with and did not log on for some time now.

I went and checked them out. I am undecided between Stator and MSA.

If I could hear some feedback from users on both of them I would greatly appreciate the help.

TY

The Pip Thief.

[The Pip Thief]

Took some time off but wanted to post the folloing ABC's that showed up this morning.

Offered some nice RR ratios with PositionSizer.

The Pip Thief

[natedredd10]

Originally Posted by Trader333 »

You could try a MonteCarlo simulation as this will give an idea of your risk of ruin based on percent risk, reward factor and strike rate. I wrote and article on this which has a downloadable Excel spreadsheet that may help and I will pm you the link.
Paul

Hey Paul can you just post that link in here? I would love to check that out.

[daedalus]

I love seeing your entries! Any guidelines you follow for your IB or ABC patterns??

[The Pip Thief]

Originally Posted by daedalus »

I love seeing your entries! Any guidelines you follow for your IB or ABC patterns??

Thanks Daedalus! I actually stopped posting because the thread was me talking to myself there for a while and nobody wants to hear someone babbling on about themselves. So it does give me pleasure to hear your kind words.

As for my set-ups. The most important aspect of them all is that I look for low range bars to enter so I can buy more contracts or money in the method IB(Interactive Brokers) takes their orders. With IB they want the $ amount and not the lot quantity. This means that you can enter any size $ value in increments of $1000 as long as the order is over $25,000. This allows you to size right up to your actual % Risk.

As for the actual set-up I am just looking for the ABC in the swing chart and then if at the top of the swing I get a low range bar then I am in heaven. Why? Because I can buy a lot of money on the low range bars. I can use a tight stop and if the bar breaks in the right direction I am sized and in within seconds. Pretty basic but the profits are all in the way I size the position. I have done a lot of math on sizing models and tight stops rule because you will get on those 10 to 15 pounders once in a while. Risking 1% and getting back 15% is a great feeling even if it only happens rarely.

Look at the charts I have attached and you will see why even if I get stopped out with the tight stops it is better than using a large stop of 20 to 30 pips which many traders use. Or a Fixed $ amount. It is Friday so I am going to do a short post for you. Check out the 2 ABC's from yesterday and then the one we had today as well but I did not post the pic. You can almost always find these and even several per day. The key to making big money on them is the right sizing.

The Pip Thief