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Author	Topic: managing your bank roll...

snkypete

BOD Newbie
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managing your bank roll... on: May 9, 2012, 15:36
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Hello everyone
I was wondering if anyone out there had a way of managing there account balance after a loss.What I mean for instance lets say I do a $50 trade and I lose... would it be in my best interest to make a $150 trade for my next trade to try an recoup the loss and make some money.Kind of the way some people do while playing roulette or blackjack. I'd appreciate any input as to what you guys are doing after a loss. I've been paper trading and I've been doing pretty well as far as not having 2 losses in a row.I trade mostly the EUR/USD and AUD/USD.

monkee50

BOD New Kid On The Block
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Re: managing your bank roll... on: May 9, 2012, 18:23
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Hey snkypete, my 2 cents is to double or triple your trade sizes only when setups are in your favor... but not to triple trade size to recoup losses... that's revenge trading... lol

skycrawler

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Re: managing your bank roll... on: May 9, 2012, 23:13
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I trade the EUR/USD and HAVE had two losses in a row unfortunately. I think it is very risky to double up and try to recoup losses!

snkypete

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Re: managing your bank roll... on: May 10, 2012, 00:09
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Thanks I appreciate your input...I have to admit there are some trades that I'm more comfortable than others..

Quote from monkee50 on May 9, 2012, 18:23
Hey snkypete, my 2 cents is to double or triple your trade sizes only when setups are in your favor... but not to triple trade size to recoup losses... that's revenge trading... lol

tommbstone

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Re: managing your bank roll... on: May 10, 2012, 09:37
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25,75,150 is the common strategy but you better be sure you've got the direction right, meaning your not fighting a pull back, and I find that if i am fighting a pull back I'll go out to the next expire time. This is stupid money management and should be saved for them rare moments when "you know" your in the right. But like the other said above, probably don't want to do it in liv., demo it and see if it works, because granted 9 times out of 10 the price does go your direction after the expire time and the next candle starts, hahah that's just how the game works.
Best of luck in your trades

snkypete

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Re: managing your bank roll... on: May 12, 2012, 10:48
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Quote from tommbstone on May 10, 2012, 09:37
25,75,150 is the common strategy but you better be sure you've got the direction right, meaning your not fighting a pull back, and I find that if i am fighting a pull back I'll go out to the next expire time. This is stupid money management and should be saved for them rare moments when "you know" your in the right. But like the other said above, probably don't want to do it in liv., demo it and see if it works, because granted 9 times out of 10 the price does go your direction after the expire time and the next candle starts, hahah that's just how the game works.
Best of luck in your trades

Hey tommmbstone thanks for the advice...your so right it seems like every time I lose it's by a tenth of a point.I think what I'm going to pay more attention to is getting in when I see a price action formation that is favorable and making a move right then instead of waiting for the clock to get closer to expiration time..

cherrycoke

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Re: managing your bank roll... on: June 6, 2012, 06:23
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all these sounded like there is no need for a sound trading plan or strategy. u are just simply leaving everything to luck and hoping to utilise an effective bank roll strategy to stack the odds in your favour ?

http://www.cherrycokesignals.com/
https://www.signalpush.com/providers/cherrycokesignals/?cid=157

tommbstone

BOD Elite Member
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Re: managing your bank roll... on: June 7, 2012, 00:37
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If you have a sound trading plan this recovery system works. Not sure why your bagging it CC
since your other thread you gave smartbumFX a thumbs up. And I quote
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Originally Posted by smartbumfx

Done for today. Recovery trades at work , 4/7 but still at profit at $254-

nicely done

see that u are totally integrating MM into your overall trading plan like clockwork.

Bottom line is sometimes your fill is bad but your direction is spot on. So go out the the second expire time IF the trend is still in your direction.
I'm not saying revenge trade. I'm saying if your setup is correct go again.

Or not its your money. But coming from someone who goes all in on every first few trade's hahah

cherrycoke

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Re: managing your bank roll... on: June 7, 2012, 01:35
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in the case of smartbumfx, his trading plan is quite sound to me. U can analyze his entries and u'll agree with me. So for him to manage such trading plan with a MM like that, i think its doable.
Now in this case, the start of this thread, Snkypete painted me the impression he is doing ok with paper trades and now he wants to know how to recover losses if he goes live. And all he does is questioning about bankroll which leads me to make my comment and question. But of course if anyone wants to trade and manage their MM like i do, go ahead

http://www.cherrycokesignals.com/
https://www.signalpush.com/providers/cherrycokesignals/?cid=157

tommbstone

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Re: managing your bank roll... on: June 9, 2012, 01:49
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I see your point. And just to add to what your saying my only advice to skypete is my boring
mantra "If you can't double your demo account a few times you wont double your real account"

I wish I could trade like you CC but I'm not there yet. I hope one day though.