TygerKrane's Pip-Pickpocketing

If you don't know where to start, start here! Don't be afraid to ask questions.

Moderator: moderators

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5248
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sun Apr 18, 2010 3:57 am

TygerKrane wrote:Did I mention I was trying to get back to Japan, lol!?!

Image

Granted, this was taken at NYC's Halloween parade, but still.....


Blame it on the Smirnoff Ice I'm drinking tonight :smt030


Asians! ! ! :shock:

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Over-studying

Postby TygerKrane » Sun Apr 18, 2010 4:03 am

So this week, I was furiously searching for articles to read and videos to watch so that I could "get it" and finally gain the peace of mind in knowing that I can achieve consistent results from here on out. ( :!: Again, I was probably trying to ensure my future wealth in lieu of the oncoming Tax Day :?: )

And the futility of my search hit me like a ton of bricks:
**I already know what I need to know**

TheRumpledOne's often-pasted quote came to mind:
"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."

(Not that I'm using DTB-Rat per se, but the point is I've already SEEN & READ what I need to know. PLUS I've seen the stats that the guys around here run to know that success is possible.)

So I'm starting to feel it's pretty irrelevant for me to read anymore around here (as far as improving myself as a Forex Trader). No, I'm not saying I won't read the threads here anymore!! There are always amazing concepts, and re-teachings of old lessons which is great. I'm just saying that I think at this point, my main issue now holding me back is my psychology when I'm trading, and not any lack of knowledge about trading that is holding me back.

To put in numbers, I might say I have the knowledge to be 60% confident in my trades, but because of my psychology, I only perform at 30% confidence and belief in my trades.

Once I improve my trading mind set, I will THEN be able do that 60% that my knowledge gives me. And ONLY THEN would I be able to become better (if I so choose, a guaranteed 2% a day is all that is really necessary, after all.) ONLY THEN would I be able to reach a higher percentage of performance by re-reading threads or trying to get into Diamonds of Perception, etc.

hmmm, [highlight=orange]"I can't get any further than my psychology allows me."[/highlight] :idea: I think that is what I learned to feel this week.

So I will still be reading, but unless I have any real questions to post, I'll mostly be looking inward.

Now I just need to get some results from my realizations :roll:
~Krane

PS.
I also might have to start posting my trades :shock:

When I do, try not to laugh that hard. :smt043 :smt044

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

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Postby TygerKrane » Sun Apr 18, 2010 4:43 am

It is simply incredible to think how many indicators and tools have been made (on this site and others) all for the purpose of getting pips. But yet it can still be said that 95% of traders fail. Hundreds of different tools to answer a three-word-question: Up or down.
{okay, yes I oversimplify a little to make a dramatic point :smt096 }
Yes, I know that as unique individuals, we may have preferences/differences as to the best way for our brains to receive data.
But HUNDREDS of different tools invented when we are all looking at the same thing, a chart. And still so many of us can fail, and still so many of us can fail for so long. (maybe fail is too harsh a word, there is always respect and admiration for those who fight hard and don't give up; for those who see the amazing potential of it all, and can turn that into a source of energy, ambition and determination.)
The total irony to me is that in a market/game where hundreds of tools have been invented to help people speculate; there are those who CONSISTENTLY excel using next to nothing. Hundreds of tools available to those who fail, vs. succeeding using next to nothing. Hilarious.

As a side note, I'm totally failing at understanding Niccolo Macchiavelli's The Prince. Reading it was weird, I am trying the audiobook now which is making me feel equally retarded. I kind of understand it, but I don't see what makes it such a great, classic book. I want to understand it better without getting the cheat sheets... Maybe in a week or two I'll relisten to it.

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

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

A Magic Eye for pips

Postby TygerKrane » Sun Apr 18, 2010 5:17 am

An Ode to Price Action :arrow:

This is what we are presented with when we confront trading:

Image

I see action, but how do I profit from it?? :smt017 :smt102
-----------------------

Some throw on indicators.

See earlier post :lol:

--------------------------------

Beginning to learn Price Action:
"I was able to see the Eagle"


Those really good at Price Action:
They are able to see the Eagle AND the Stars and Stripes of the US flag in the background. Dolar_Smile


Image


images courtesy of:
Welcome to Magic Eye, Inc.

Patriotic US Eagle

Instructions on How To SEE

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

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5248
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sun Apr 18, 2010 5:20 am

90% of traders are taught that jumping off of a cliff is profitable.

5% of traders listen to what was said and are intelligent enough climb down using a rope.

2% of traders take the long way around and down and profit from the traders who did not need to take any risk but were concerned with getting from point A to B as FAST as possible.

The End :wink:


The best way to start is with a single micro lot.

If you can make $100 trading one micro lot then you know what you are doing.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

May I have some now please?

Postby TygerKrane » Sun Apr 18, 2010 5:24 am

:oops: Now that my weekly catharsis is done, may I get some pips now this week please? :smt117


:smt024
Krane

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

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Conflicting Viewpoints

Postby TygerKrane » Tue Apr 20, 2010 2:09 am

I hate it when looking at charts, and my brain tries to analyze from two different methods. I'm sticking to a Buy Zone method, but I look at charts and that zline stuff starts creeping in, I hate that.
I guess it looks to me like the entry for zline trades happen against the candle color. Ignoring the fact that I'm not too well studied on zlines, I guess one of the points I gathered is that one is trying to catch brief pullbacks in price to clear out the breakeven orders of those who caught the breakout. [I say brief, because of the rule where you don't want the candle to close against you, so I guess if price does pullback after a breakout, you don't want the pullback to be the start of a consolidation period??]

Anyways, I end up seeing Buy Zone as doing what you SEE price is CURRENTLY doing (i.e. candle is red, so I'm gonna go red); versus Zline is doing what you THINK price is GOING TO do (i.e. candle is red on this pullback, but if it keeps going red, I think it will start trying to act like a green candle and go up.)

<Believe me guys, I'm not talking down zline at all, just using journal to write down what goes on in my head, how my psychology interprets all this.>

So I wonder like, when you guys do your analysis and make an entry on a pullback, what stops you from re-entering again if your first entry gets stopped out? Like if it pulls back, hits your stop loss...then pulls back some more?

In my amateur attempts, trying to catch a pullback was like trying to call a bottom. Stop loss would get hit, then I guess my ego would kick in and tell me that "The next price move, has to be the bottom", or I would just increase my stop loss for that first entry. Either way I got screwed.

Then to make matters worse, I would look at the chart and feel like even MORE of a dummy, b/c as my ego was telling me I could call a bottom, the ONLY thing the candle said was red, Red, [highlight=red]RED!![/highlight] (and then it would laugh at me :smt096 muah, ha, Ha, HA!!)

So, in conclusion, I feel like less of dummy if I'm wrong while following the candle color, so I guess that's why I'm trying to work my way with Buy Zone.

[schild=12 fontcolor=0000FF shadowcolor=C0C0C0 shieldshadow=0]The End[/schild]

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

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5248
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Re: Conflicting Viewpoints

Postby MightyOne » Tue Apr 20, 2010 5:56 am

TygerKrane wrote:I hate it when looking at charts, and my brain tries to analyze from two different methods. I'm sticking to a Buy Zone method, but I look at charts and that zline stuff starts creeping in, I hate that.
I guess it looks to me like the entry for zline trades happen against the candle color. Ignoring the fact that I'm not too well studied on zlines, I guess one of the points I gathered is that one is trying to catch brief pullbacks in price to clear out the breakeven orders of those who caught the breakout. [I say brief, because of the rule where you don't want the candle to close against you, so I guess if price does pullback after a breakout, you don't want the pullback to be the start of a consolidation period??]

Anyways, I end up seeing Buy Zone as doing what you SEE price is CURRENTLY doing (i.e. candle is red, so I'm gonna go red); versus Zline is doing what you THINK price is GOING TO do (i.e. candle is red on this pullback, but if it keeps going red, I think it will start trying to act like a green candle and go up.)

<Believe me guys, I'm not talking down zline at all, just using journal to write down what goes on in my head, how my psychology interprets all this.>

So I wonder like, when you guys do your analysis and make an entry on a pullback, what stops you from re-entering again if your first entry gets stopped out? Like if it pulls back, hits your stop loss...then pulls back some more?

In my amateur attempts, trying to catch a pullback was like trying to call a bottom. Stop loss would get hit, then I guess my ego would kick in and tell me that "The next price move, has to be the bottom", or I would just increase my stop loss for that first entry. Either way I got screwed.

Then to make matters worse, I would look at the chart and feel like even MORE of a dummy, b/c as my ego was telling me I could call a bottom, the ONLY thing the candle said was red, Red, [highlight=red]RED!![/highlight] (and then it would laugh at me :smt096 muah, ha, Ha, HA!!)

So, in conclusion, I feel like less of dummy if I'm wrong while following the candle color, so I guess that's why I'm trying to work my way with Buy Zone.

[schild=12 fontcolor=0000FF shadowcolor=C0C0C0 shieldshadow=0]The End[/schild]



Momentum Candles are not for everyone.


Blubbb's Custom Candle Indi has Buy Zone attached to it:


Image

User avatar
Patch
rank: 500+ posts
rank: 500+ posts
Posts: 941
Joined: Sat Jan 06, 2007 6:13 pm
Reputation: 0
Location: Virginia
Real name: Jeff
Gender: Male
Contact:

Postby Patch » Wed Apr 21, 2010 3:44 am

TygerKrane

Going back to your post at 10.09pm yesterday talking about the BuyZone and the zlines. I like both, plus the Semafors.

I got the idea reading about rats ant TRO's suggestion to trade green or red. If it works for rats, then why won't it work for the BuyZone? I thought.

Forgive me I've forgotten what time frame and how often do you enter BuyZone trades? If you haven't already, be sure to study the indi TRO2009_WICK_COUNT_UI , I think it is among the donationals and Idare say, worth its weight in BuyZone Gold.

Patch
Working on his BuyZone EA
InVA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

Tripken
rank: <50 posts
rank: <50 posts
Posts: 6
Joined: Wed Feb 17, 2010 1:16 pm
Reputation: 0
Location: East TN
Gender: None specified

Postby Tripken » Fri Apr 23, 2010 1:46 am

TygerKrane

Really enjoying your thread, many similar thoughts regarding the psychology. Not as far along with Forex but attempting to learn, been focusing on stocks with TRO's BZ & Cows. Your intro hit it dead on - the amount of time and talent people on Kreslik.com are willing to share is amazing, something i've not found elsewhere. Looking forward to following your continued growth & success. And thanks for the informative links!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “beginners forum”