DislikedYour query is a little fun to me,
may be the correlation of electrical wave form vs forex waveform..haha..
I am an electrical engineer too
should I mention here...hahaha
I got a feeling why u ask this..Ignored
Simple Moving Average Vs. Moving Average? 8 replies
Does Moving average actually act as moving S/R ?? 20 replies
Very Simple Moving Average 20 replies
Very noobish question about EMAs 6 replies
DislikedYour query is a little fun to me,
may be the correlation of electrical wave form vs forex waveform..haha..
I am an electrical engineer too
should I mention here...hahaha
I got a feeling why u ask this..Ignored
DislikedIt has nothing to do with amount of capital, they're simply trading a longer timeframe than you. They also may choose a larger equivalent stop (i.e. two people trading the same timeframe will differ of size of stop).Ignored
DislikedI understand how different timerames have different goals, but 100 pips profit is 100 pips profit no mater what chart you used to decide to enter the trade.Ignored
QuoteDislikedMy mindset is just that you won't go broke taking a profit.
Quoting alkemiDislikedIt is not at all dependent upon ones number of winning trades.Ignored
QuoteDislikedit definitely was much more profitable to move a stop to breakeven at some point in a trade, than to allow the trade a full stop-out.
DislikedLOL, actually read this on a bar room wall (college days),
To do is to BE, Plato
To Be is to do, Socrates
Do be do be do, SinatraIgnored
DislikedI am by no mean a pro trader or something. But I am very good in math and statistics because of my electrical engineering career.
Anyway I will explain to you why moving SL to BE is very bad and noobish in few simple words w/o using complex math.
1-You open two lots , with both TP 30 pips. One hit TP , the other you move SL to BE. The 2nd lot hit BE , no problem , you still got your 30 pips , right? WRONG!Ignored
Dislikedthis guy is not engineer. if he is, he must be a bad one.
moving to BE at key points can be very useful.Ignored
Quoting IgrokDislikedReasons based on MM (i.e. it provides a free trade) or psychology are ineffectual, at least in terms of providing a long term statistical edge. If a trader's method has to somehow work around, or compensate for, his psychological foibles, then it's having to work overly hard.Ignored
DislikedSurely Sir, if you have TWO trades BOTH at 30pip TP and ONE of them gets hit, does not the other get hit too?
I see a fundamental flaw in your explanation.
ps. Others may have pointed this out, but I did not read the whole thread.Ignored
DislikedIgnored
Disliked
Everyone here talks without proving that SL @ BE prevents more losers than winners.Ignored
DislikedIt's probably the engineer side of you that makes you want to distill everything down into a single conclusion. You will soon learn you can't do that with trading. There are too many variables.Ignored
DislikedYes I meant by "hitting TP" That the trader closes the lot at a profit. Most people understood that.
Of course Putting SL at BE can be useful sometimes. But over the long term it will make you lose money.
Why?? Because decreasing the space on the trade will decrease the profit "hit rate".
Everyone here talks without proving that SL @ BE prevents more losers than winners.
SL @ BE prevents more winners than losers , and then , on the long term you lose money.
Your first priority is to be profitable , not protecting your capital. If your...Ignored
DislikedAh well, mate, this reminds me of Soros' saying : 'First, survive. Later on, profit'. That's the one he learnt from his father in surviving the WW.
And that's become my aim too, mate. Sorry, no offense, I just felt suited with his perspective. As for yours, ah well, you'll find someone follows you. Not me tho, at least for now.
Ignored
Dislikedmost of the people is correct and incorrect.
people forget that,
there is many way you can skin a cat.
it does not matter how genius you are with the math or how bad you are with the math.trading is diffrent.
its very easy to argue with anything.
with anything there is allways good and bad site.
take and apply IN YOUR TRADING what makes you sence AND MORE IMPORTANT , MAKES MONEY.
edit:i will post a link to a video about BE and pyramid.(if i can find the link,)may be someone will get something out of that video
GOOD TRADING...Ignored