Nomoretoxics Money Management -
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thread: Nomoretoxics Money Management

  1. #21
    Hi Nomo:
    I Am a little confused about your m.m rules. You mentioned you went for 20 pips. During the london session now, the EUR and the Cable boxes were approx. 120 pips each. This would be a R/R of 6:1, an insane ratio. What's the worst Risk/Reward which you would think about and do you always take for 20 pips. Thank you

    Jim

  2. #22
    I think you will need to re-evaluate what MM means....Phorex Phreak
    and I think you need to quit making frugal remarks.

    No offense intended by the way.

  3. #23
    Hi Nomo:
    I Am a little confused Regarding your m.m rules. You mentioned you went for 20 pips. During the london session today, the EUR and the Cable boxes were approx. 120 pips each. This would be a R/R of 6:1, an insane ratio. What's the worst Risk/Reward which you do and would consider you take for 20 pips. Thanks

    Jim
    Jim.

    The 20 pips is only a way to demone the box delivers consistency.

    Read the part about common sense. The way to adjust the load.

    Also don't pay attention to this box ranges. That is a bad perception likely from a different thread. I remember speaking about what is happening inside the box but nothing to do with how wide/narrow the box is.

    Clear off your head the 20 pips.

    Hope it helps.

  4. #24
    Senior Member Pepeqf1962's Avatar
    106
    Hello, Nomo!
    Perhaps I miss something, but like I remember You used 1:1 RR by means of your breakout. Or can it be for some? Or the common sense tells You now, let this ride longer, now let shut this at 1:1?
    Or what am I overlooking?
    THX, NL

  5. #25
    Hello, Nomo!
    Maybe I miss something, but as if I recall You utilized 1:1 RR with Your breakout. Or is it for some other? Or the sense tells You now, let's ride more let shut this?
    Or what am I missing?
    THX, NL
    from the rules:

    6)Set a Take Profit at 1:1 risk /reward (supposing 20 pips prevent loss/20 pips profit target)


    Notice that I use at least I'm giving more room to go. Assuming 20/20.

    Again, the notion of 20/20 1:1 is for individuals to find the box on consistency.

  6. #26
    Senior Member Pepeqf1962's Avatar
    106
    THX for the clarifiion.
    NL

  7. #27
    from the rules:

    6)Set a Take Profit at least 1:1 risk /reward (supposing 20 pips prevent loss/20 pips profit goal )


    Note that I use quot;at leastquot; I'm giving more space to go. Assuming 20/20.

    Again, the notion of 20/20 1:1 is for individuals to see the box on consistency.
    Hello Nomo: I know we keep out S/L at 1 percent of balance per transaction, shifting out lot dimensions to achieve that amount. I am confused about how you determine S/L. If you don't use the box, or even the EA that pulls the dashed line, what do you use? Can you go be sense, by how things look on the charts? If I understand you properly, we need to determine S/L very first, and then determined by how many pips it is, we aim for either 1R:R or 2R:R. Sorry to be such a dolt, however I'd like to figure this out and maybe help someone else also. Thank you for all your patience.Jim'

  8. #28
    Hi Nomo: I realize we keep out S/L at 1% of balance per trade, changing out lot dimensions to reach that amount. I am confused about how you determine S/L. If you don't use the box, or the EA that draws the dashed line, what do you use? Do you go be sense, by how things look on the charts? If I understand you properly, we will need to determine S/L first, then determined by how many pips it's, we aim to either 1R:R or 2R:R. Sorry to be such a dolt, however I'd like to figure out this and maybe help someone else also. Thank you for your entire patience.Jim'
    no problem Jim..always pleased to help.

    Should I don't go by the box or EA, just take the last swing high/low and set it in there.

    Once you figure out the distance between stop reduction and entrance, you will find the idea on how far away your target is. Then a determination is made by you.

  9. #29
    Should you create 2:1 -- please stop trading.
    .
    .
    .
    B: You place a trade, looking for 2:1 using a 1% risk. 2:I is feasible, market moves onto your side. Your target is hit, You shut the charts and proceed anything

    Why not opt for a third round???

    In my screw-ups, I did this third round many times. I don't know, maybe is attached to the law of probabilities or something. But trust me with this one. If you did the math, you have 1% in your pocket. Do yourself a favor and do not go for more.
    While I love the sharing on the planks, these statements just don't make any sense. Quite frankly, it is dumb dangerous - here's why:

    Should you anticipate in the process that you have selected for choosing your transactions (and its own profitable in the long term), then often you do it doesn't matter in any way. If you are profitable, there is no reason to stop at any given moment (besides fatigue or something like that).

    Let's take the example of a casino - this casino supplies a slot machine that pays out 98% of your cash (i.e. you may lose money in the long run) and another pays out 107 percent (i.e. you'll win cash in the long run).

    I walk in and play with the 98% system with two pulls of the handle. On the next pull, I win $500 - fantastic! I must become a pro at this!

    I walk into a different day and play with the 107% system and shed both pulls. Man steals all my money!

    Does that mean that I need to come back and play with the 98% machine every day? Of course not, I will only lose all my cash (albeit slowly with just two pulls daily ). If you knew that the true odds of the machines, you would spend all your waking hours in the 107% machine. Of course you would have ups downs, but over time you would be winning. And above all, there is no reason to stop playing. The more you play, the more you win (it is a percentage after all).

    Quite simply, stopping after two transactions is absurd if you are profitable and unprofitable. If you stop after two trade and your system is finally not profitable, then this egy is only going to give you a false sense of security and that is a really dangerous thing. If you stop after two transactions and you are profitable, then there is an opportunity cost you are spending. Would you rather have 107 percent of $200 or $200,000? The more you put via a profitable method, the better off you are.

  10. #30
    While I love the sharing on the planks, these statements simply don't make any sense. Quite honestly, it is dumb dangerous - here's why:

    If you trust in the procedure that you have chosen for picking your transactions (and its profitable in the long term), then how often you do it doesn't matter at all. If you're profitable, there is no reason to stop at any given moment (other than exhaustion or something like this ).

    Let us take the case of a casino - that casino offers a slot machine that pays out 98% of your money (i.e. you may eliminate money in the long run) and another pays out 107% (i.e. you will win money in the long run).

    I walk in and play the 98% machine with two draws of the handle. On the next pull, I win $500 - excellent! \\\\\I must become an expert at this! \\\\\

    I walk in another day and play the 107% machine and shed both pulls. \\\\\Man, this machine stinks, steals all my money! \\\\\

    Does that imply that I should come back and play with the 98% machine daily? Of course not, I shall only lose all of my money (albeit slowly with just two pulls daily ). If you knew the true odds of these machines, then you'd spend all your waking hours in the 107% machine. Of course you'd have ups drawbacks, but over time you'd be winning. And above all, there is absolutely no reason to stop playing. The longer you play, the more you win (it is a percent after all).

    In other words, stopping after two transactions is absurd if you're profitable and unprofitable. If you cease after two trade along with your system is finally not profitable, then that egy will only give you a false sense of safety and that is a very dangerous thing. If you stop after two transactions and you're profitable, then there is an opportunity cost you're \\\\\paying\\\\\. Would you rather have 107% of 200 or $200,000? The more you put through a profitable method, the better off you are.
    Wow. . .frankly, I had been going to give you a long response, but I understood that you're not carrying the concept of implied volatility severely. You're not considering whatsoever volatility. Can you trade?

    My advice, before you respond to any post is to read, analyze and understand the concept thoroughly before you engage into any debate. All I see in your post is a person that has no clue about the mechanics of these markets and the way that human behaviour interacts via demand and supply.

    There's a beginner session at forum, you might find it useful, just in case.

    This is not a game forum, so far as I know. Although trading and gaming has similarities, collective human behaviour ( as I said previously ) pushing prices up and down, makes them far apart (among other differences).

    As for dumb, I suggest that you use a better choice of words next moment. I found it disrespectful and far out there.

    Thank to your concerns.

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