Twenty-four, and not one iota more! - page 2
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Hanging in hammocks on Caribbean islands, here and there
Author, more :)))
what little it takes to improve the spirits of hardcore traders, honestly... at your disposal - anytime!
Your texts have really cheered people up, but unfortunately have overshadowed the essence of the issue.
at your disposal - anytime!
Thank you, very happy!
***
Filter by condition - if breakout, what? redraw pivots with new parameters, don't react for the next hour, stop trading, increase bets... what do you need then?
Cod: как мало надо, чтобы улучшить настроение суровым трейдерам, чесслово...
As you correctly point out, one of the prerequisites of a rough trader's day-to-day is to be evenly padded on the chart. And further, the profit is not the main thing, the main thing is stability )))). If you do it consistently and smoothly, you will be happy in your pocket )))
I've recently learned that random price movements are well filtered out by a simple pivot direction. That is, if today's pivot is higher than yesterday's, then shorting is out of the question. When to enter? When the price touches the pivot (on a pullback).
The question is that the random walks of the price in the opposite direction (let's call it random that which contradicts the subsequent movement, visible on, say, a weekly segment to a five-year-old child), that these random walks sometimes reach such a size that it is simply stupid to ignore them - very expensive. But it's also pathetic to jump out on the stop - makes a big difference to the profitability of the system. The first thing that came to my mind was to put a stop on the line midway between today's and yesterday's pivot. Or maybe even on yesterday's pivot - it's bigger, but there's less chance of being out. And it is more logical - if price breaks yesterday's pivot, there is something wrong with the direction, well, price doesn't want to go in that direction.
I am interested on principle, no secrets - but how do people approach stop sizing? I don't like history testing, it's a pure fit. Maybe someone has a conceptual approach to this? Not a mathematician myself unfortunately, maybe a lot of questions would fall away on their own if I were.
Sorry, I know, I never gave out the ToR for my question. I should have renamed the thread - "Let's talk stops". Something like that. But the subject is important, much more important than the use of iCustom function in EA programming.
I've recently learned that random price movements are well filtered out by a simple pivot direction. That is, if today's pivot is higher than yesterday's, then shorting is out of the question. When to enter? When the price touches the pivot (on a pullback).
The question is that the random walks of the price in the opposite direction (let's call it random that which contradicts the subsequent movement, visible on, say, a weekly segment to a five-year-old child), that these random walks sometimes reach such a size that it is simply stupid to ignore them - very expensive. But it's also pathetic to jump out on the stop - makes a big difference to the profitability of the system. The first thing that came to my mind was to put a stop on the line midway between today's and yesterday's pivot. Or maybe even on yesterday's pivot - it's bigger, but there's less chance of being out. And it is more logical - if price breaks yesterday's pivot, there is something wrong with the direction, well, price doesn't want to go in that direction.
I am interested on principle, no secrets - but how do people approach stop sizing? I don't like history testing, it's a pure fit. Maybe someone has a conceptual approach to this? Not a mathematician myself unfortunately, maybe a lot of questions would fall away on their own if I were.
Sorry, I know, I never gave out the ToR for my question. I should have renamed the thread - "Let's talk stops". Something like that. But the subject is important, much more important than, say, using the iCustom function in EA programming.
The fewer stops the better.
The thought had crossed my mind. About a very short stop. I looked somewhere at the statistics of the most successful funds or private traders - their ratio of profit / loss is simply monstrous, many times over. But the question: What if the stop was eliminated by a false-break, should I enter again in the same direction? After all, these things are interrelated - after a stop you have to enter somewhere.