The Coin Toss Method

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adog
94
adog  
brazen
23
brazen  

I just had two loosers in a row - what kind of risk:reward ratio should we use with this?

increase
1199
increase  

Lol it has to be 50/50 just the number of throws will vary untill the 50/50 comes up, but it will

So in the end its a wasted excercise but good practice at tossing a coin

clc4x
50
clc4x  

tossing coin to decide buy/sell may yield higher chance than a lot of trading systems.

adog
94
adog  

Part 2....Risk Management

Part 2....Risk Management:

Pick a number between 50 and 150. That number = X pips.

Add to your winners: Every X number of pips in the money add a little to it.....cash out when you have a nice pile $

Reduce losers: Every X number of pips against you reduce.....close everything if you reduce more than twice.

Bet you double your money more times than you bust the account.

Dont forget to tip the hand that feeds you

anyone have code to choose random buy/sell (bool) you know what i mean....might just make an ea out of it.

zupcon
313
zupcon  
brazen:
I just had two loosers in a row - what kind of risk:reward ratio should we use with this?

A reasonable way of answering that question is to trade this method without stops or targets, exiting after N bars

Take a couple of thousand trades and keep good records and you'll get there.

shenyining
7
shenyining  

is this a joke?

i don't know what to say

JamestheGiant
628
JamestheGiant  

Not a futile effort after all

increase:
Lol it has to be 50/50 just the number of throws will vary untill the 50/50 comes up, but it will So in the end its a wasted exercise but good practice at tossing a coin

Actually, it is not a wasted exercise because most traders have a lower chance of making a profitable trade than 50%, so by using this coin toss method, the newbie trader will automatically have a higher chance of making a profitable trade. The newbie trader makes has around 30% chance of making a profitable trade because of emotions, loss of confidence, and instinct. Human nature goes against trading because trading is very unnatural. So for a human being to become a good trader, you must challenge yourself to the core to become profitable. So in the end, this coin toss method will greatly benefit the newbie trader. ( And I include the 10+ year trader who is still unprofitable as a newbie aswell.)

xx3xxx
1754
xx3xxx  

Human nature still believe in hypnosis of recent events

secondly, like trick move in the football, many those tiny little movement trick you to believe that big steps will be heading that way next -- but it WON'T, just trying to get your doh

for non-newbies

I think they did notice some sign for big movement, some hedge and some collaborate movement and what did not work-- those are the things that newbies should learn, hard to teach though even they were our sons and daughters -- have to trade real money to know

secretcode
898
secretcode  
James the Giant:
Actually, it is not a wasted exercise because most traders have a lower chance of making a profitable trade than 50%, so by using this coin toss method, the newbie trader will automatically have a higher chance of making a profitable trade. The newbie trader makes has around 30% chance of making a profitable trade because of emotions, loss of confidence, and instinct. Human nature goes against trading because trading is very unnatural. So for a human being to become a good trader, you must challenge yourself to the core to become profitable. So in the end, this coin toss method will greatly benefit the newbie trader. ( And I include the 10+ year trader who is still unprofitable as a newbie aswell.)

Well said James the Giant...very true.

hermes
505
hermes  

The trick is in proper MM! Many small losses outperformed by a few big wins. You can lose 70% and win 30% of your trades and you can be still winner! MM is everything. Keep your losses small and let your winners ride.

Hermes

123
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