TygerKrane's Pip-Pickpocketing

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trendme82
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Postby trendme82 » Sun Jun 13, 2010 6:05 am

Totally agreed. Price action. support and resistance, A nice clean chart and pure discipline. What I have learned from studying price action, is that you must have a LEVEL in mind, and wait for price to reach your target. Once price reaches your level, stick that Level and stick to your money management.

Love the Signature!

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jarnapal
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Postby jarnapal » Sun Jun 13, 2010 7:15 am

TygerKrane wrote:For the first time ever in my life, I attentively watched a soccer (football) match.
I must say, die-hard soccer fans should have an edge up on having the right mentality for trading...

[highlight=yellow]WAITING[/highlight]

[highlight=yellow]WAITING[/highlight] for the ball to get near your opponents goal; and [highlight=yellow]WAITING[/highlight] for an actual goal to occur...

vs.

[highlight=yellow]WAITING[/highlight] for a MOMO; [highlight=yellow]WAITING[/highlight] for a retrace into the MZ or Zline {yes, Zline is any line within MZ I believe MO said} and [highlight=yellow]WAITING[/highlight] for your entry signal...

or

[highlight=yellow]WAITING[/highlight] for price to be within 20pips of daily extreme; [highlight=yellow]WAITING[/highlight] for H1 candle to match intended direction and [highlight=yellow]WAITING[/highlight] for Red/Green/Green - Green/Red/Red...

So I really think it is my Forex trading that makes me able to watch the game more enjoyably, not the fact that it was US vs England.

To all the true football fans amongst us, ENJOY THE MADNESS THAT IS FIFA WORLD CUP 2010!!! :smt026


There is a point what you are saying.

I want you to imagine a large screen in your living room. Your charts are running on it and you do all the trading on that screen which is in your living room. But for entering and exiting you use voice recognition. Wouldn't you be more disciplined to enter ? But when you use your mouse and sit closely to your monitor you get the need to enter and be in the market..

trendme82
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Postby trendme82 » Sun Jun 13, 2010 7:57 am

Very interesting in deed. So you are saying that if we had to verbalize the trade call, instead of using our mobility functions, we would become more disciplined. Is there any psychological evidence behind this?

It sounds like that we become irrational at critical moments. What is needed? an entry level, discipline, and follow through. If price does not come to Us, we dont make the trade.

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TygerKrane
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Precisely filled gap

Postby TygerKrane » Tue Jun 15, 2010 11:12 am

I just posted this elsewhere, but I copy here so I can easily access this reminder to myself:

[highlight=darkgreen]___________________________________________________________________________[/highlight]
Are you f#$%ing kidding me.

The EJ gap was only 45 pips (actually I wouldn't say only to 45pips), anyways, what a precise freaking gap fill!!

Image


:idea: MightyOne :idea: wrote: I always consider the previous close to be the next candles open so that there are no gaps.

Gaps are not part of my analysis

Held profit is.



And I am going to stick this note on the side of my screen as a simple reminder to help me out when I get lost and can't SEE which is the best direction to be zline trading:
[url=http://kreslik.com/forums/viewtopic.php?p=42167#42167] :idea: JESGPY :idea: [/URL] wrote:who's profit were you aiming to take?

JUAN


Nice one, JUAN, thanks for the reminder!!! :smt023

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TygerKrane
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Paper Trader 06-17-10

Postby TygerKrane » Thu Jun 17, 2010 2:47 pm

Paper Trading to observe price action AND refine my entries...

You [font=andalus]KNOW[/font] I'm looking to go long.

Sadly, normally, I might've just threw a long order out, the FIRST time that price hit 112.18... ](*,) {like how I said a dog lying out on the porch all day, and then giving mad chase as soon as it thinks it even sees a cat...}

Additionally, I need to better learn how to handle if my IMAGINARY LINE fails (i.e. at what point do I give up my original bias and trade in the opposite direction, and determining which candle close (M5 or M15 or M45CC) I use to determine a fail vs. just an incorrect entry.
Also, from my reading of older NLA posts, trying to get comfortable with the concept that {loose paraphrase}'if price closes against you, you usually get a chance to close at breakeven.'

Image

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TygerKrane
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Paper Trader 06-17-10, part deux

Postby TygerKrane » Thu Jun 17, 2010 3:40 pm

At this point, I KNOW I am just nit-picking, there is no 100% accurate guarantee, I won't always get 100% perfect entries, sometimes things happen.

But I just felt like posting this, maybe as fair warning to me in future not to rush entries.

No, I think the better lesson is just that in trading, sometimes Sh!t Happens, so don't get all egotistical about it and just move on...

In any case, I haven't looked at charts for TWO WHOLE DAYS and now that I'm looking, I just want to post something (hopefully helpful to me... :P )

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**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TygerKrane
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Paper Trader 06-17-10, part trois

Postby TygerKrane » Thu Jun 17, 2010 4:08 pm

And here highlights one of my main issues in becoming a [highlight=black]Consistent, Independent, Self-Employed, Professional Trader[/highlight]...Taking Profits!!!

dragon33's charts looks like he takes many 'small' profits sooner rather than later, it doesn't look like he is trying to get 75+ pips on each entry.

Furthermore Braathen, said this recently which resonates deeply with me:
"The day i told myself i wanted 100 pips a day my mind started working towards this goal.."

I need to know for myself, when am I taking my quick 20 vs. holding for longer...because I can still get my 100 pips a day just by taking the quick +20pip trades that I am fortunate enough to set myself up into.

Image


Maybe THIS would help me better make my decision to take the quick pips vs holding out longer? :smt102
But exactly how the below picture should guide me, I don't know/ I can't say (comprehend) clearly yet, I assume with experience I will be able to judge better...But for now, I'll accept LUCK!! :D

(Hmmm, I know MO and Manta I think and others have talked about how to get into the bigger picture game. But let me finish learning how to crawl first before I worry about running, get what I'm saying? So I won't stress this point too much for now.)

:::EDIT::: LOL, conventional Technical Analysis says "Ascending Triangle" :lol:

Image

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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MightyOne
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Postby MightyOne » Thu Jun 17, 2010 6:56 pm

One wave down

One wave up

One wave down (3rd wave is one larger wave)

One wave up

One wave down (5th wave is one larger wave)


Price closes over a line (I know where I am)

Price doesn't close over a line

Price closes over a line
[s]Price was supposed to close over a line[/s] (I Know when something is WRONG!)

Price doesn't close over a line

Price closes over a line (I Know where I am going)


I KNOW WHERE I AM

I KNOW WHERE I AM GOING

I KNOW WHEN SOMETHING IS WRONG!

jarnapal
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Postby jarnapal » Fri Jun 18, 2010 6:41 am

MightyOne wrote:One wave down

One wave up

One wave down (3rd wave is one larger wave)

One wave up

One wave down (5th wave is one larger wave)


Price closes over a line (I know where I am)

Price doesn't close over a line

Price closes over a line
[s]Price was supposed to close over a line[/s] (I Know when something is WRONG!)

Price doesn't close over a line

Price closes over a line (I Know where I am going)


I KNOW WHERE I AM

I KNOW WHERE I AM GOING

I KNOW WHEN SOMETHING IS WRONG!


Mightyone thanks for the enlightment but the lines you mention, are these S/R lines ?

And by the way, hows your health ? I suspect things went well. But just to aknowledge everybody else I'll give this link: http://drbass.com/aajonus.html

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MightyOne
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Postby MightyOne » Fri Jun 18, 2010 8:15 am

jarnapal wrote:
MightyOne wrote:One wave down

One wave up

One wave down (3rd wave is one larger wave)

One wave up

One wave down (5th wave is one larger wave)


Price closes over a line (I know where I am)

Price doesn't close over a line

Price closes over a line
[s]Price was supposed to close over a line[/s] (I Know when something is WRONG!)

Price doesn't close over a line

Price closes over a line (I Know where I am going)


I KNOW WHERE I AM

I KNOW WHERE I AM GOING

I KNOW WHEN SOMETHING IS WRONG!


Mightyone thanks for the enlightment but the lines you mention, are these S/R lines ?

And by the way, hows your health ? I suspect things went well. But just to aknowledge everybody else I'll give this link: http://drbass.com/aajonus.html


I didn't expect to live forever, I don't expect to live forever, we are all dying from the time we are born, what is new.

It is like this:

Price closes over a line

Price closes over a line

price closes over a line

daily, weekly, then monthly.

That which you see in your mind should be seen in your chart or something is wrong.

Take a 1-2-3 Elliot Wave for example.

If the first wave is observed on the daily chart, should the first wave be completed 3 years from now? I tell you NO! Likewise everything is viewed in its time and in its season; what is according to what was.

Trade that which is in your mind, not the fear of making or losing pips.

Price makes at least three waves, if you get out in two then you are trading scared.

Price makes new highs every time but one time, if you get out before a new high then you are trading scared.

It is easy and yet it is hard because the mind makes it so.

If you want prosperity then you will get rid of complexity.

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