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TheRumpledOne 08-22-2008 05:45 PM

Never Lose Again!!
 
NEVER LOSE AGAIN!!


Before you read further, go here now
http://forums.babypips.com/show-me-m...html#post65357
and come back:

My TREND INDICATOR - NEVER LOSE AGAIN!! thread was the most widely viewed thread in TradeStation history. I believe it still holds the record for the most number of views. I have decided to "revive" it again.

The bottom line is you don't have to end the day, week, month, or year in the red. You can be profitable. You may not win every trade but you will be profitable.

I know most of you have read about money management, risk management, position sizing, stops, etc... So then what are the reason(s) you are still losing? Is the market beating you? Are your stops being hunting? Or are you simply giving your money away?

When you enter the TRADING JUNGLE, you are up against the best traders in the world. They are smarter, faster, have more money, have better equipment, better access to information... better everything than you do! What makes you believe you can win? What "edge" are you bringing to the table that will allow you to take their money? Don't you know the game is "rigged" against you just like in Vegas?

What's the reason you see some currency pairs move over a 100 pips a day yet you're happy barely breaking even? What makes trading so difficult for you? What are you doing?

I know you have read about having a trading plan, haven't you? Do you have one? Come on, be honest... DO YOU REALLY HAVE A TRADING PLAN?

If you do, DO YOU REALLY TRADE ACCORDING TO YOUR PLAN? Come on now, it's time to FESS UP.

What about all those trading books, tapes, videos, and seminars? Ever wonder why there are so many? I just ONE had the answer, then wouldn't it go "viral" and everybody would be trading that method? THINK ABOUT IT.

What about all those indicators, EAs, blackboxes, trading signals and systems for sale? If one of them worked wouldn't it go "viral", too?

I have posted hundreds of FREE INDICATORS for TradeStation, eSignal and MetaTrader. Why? Because I can! I don't like seeing people pay hundreds and thousands of dollars for code, most of which, doesn't work or is way overpriced, IMHO. If you check me out, you'll see I have been banned from many forums. My FREE indicators are a THREAT to their cashflow. My free education materials also threaten their cashflow. Just do the math.

I have been accused of "renaming" indicators. Yes, I rename them AFTER I enhance them because if I post a modified version with the exact same name as the original then it gets "stepped on" and any good programmer knows better than to step on code. But I post my revised/enhanced/fixed version FOR FREE on the same site I downloaded them from. So where's the crime? Some people let their egos get in the way.

I have been accused of SPAMMING because I am an IB for MB Trading. Before I was an IB, I didn't even know what an IB was. The reason I am an IB was because when I found out that there is NO FIXED SPREAD in Forex, I immediately opened an account with EFX Group and posted about it everywhere I could. That had the effect of bringing EFX more customers. As a THANK YOU, they made me an IB. And it got me banned from sites that had FIXED SPREAD BROKERS as advertisers.

Whenever MONEY is involved, it is a DOG EAT DOG, EAT CAT TOO jungle. The sooner you learn that fact the better.

The goal of this thread is to show you how to NEVER LOSE AGAIN. Trading is simple. People traded long before there were computers and indicators. So why do you have so many computers and indicators?

Do you really know how the FOREX market operates? Or do you just know how to place an order? What have you gotten yourself into? THINK ABOUT IT!

TO BE CONTINUED...

paradoxical 08-22-2008 07:40 PM

Mb
 
I know you have no control over this, but I have an account with MB. On the verge of leaving them, because their platform comnpletely s..ks. The MetaTrader platform beats their platform by light years. I knowthey have low commissions and all, but they can do something about their atrocious trading platform. I've traded with it for two years now, and I still hate it.

TheRumpledOne 08-22-2008 09:18 PM

Off Topic But That's Ok...
 
Quote:

Originally Posted by paradoxical (Post 63912)
I know you have no control over this, but I have an account with MB. On the verge of leaving them, because their platform comnpletely s..ks. The MetaTrader platform beats their platform by light years. I knowthey have low commissions and all, but they can do something about their atrocious trading platform. I've traded with it for two years now, and I still hate it.

OFF TOPIC BUT THAT'S OK...

What specifically do you hate about it? Are you a scalper? Cause if you are not, then I am not sure why the platform would matter. But I would like to hear what you have to say.

I use the Navigator with the following windows open:

Level II ( Market Depth ) with Order Entry and I enter my LIMIT ENTRY orders from that window.

Positions window showing Basis, Lots, Last, Open P/L, Closed P/L and Commission with Order Entry and I enter my LIMIT EXIT orders from that window.

OrderBook showing Time, Action, Avg Execution Price and Message.

OpenOrders so I know if I have any VERY IMPORTANT!

Account Balances.

Since I usually only trade one pair at a time, I don't need anything else.

The only thing that I BEG THEM TO CHANGE is one click order entry from the Level II window by just clicking on the price. Another nice change would be to show NET PROFIT on the Balances window.

pipnailer 08-22-2008 11:39 PM

Quote:

Originally Posted by TheRumpledOne (Post 63926)
OFF TOPIC BUT THAT'S OK...

What specifically do you hate about it? Are you a scalper? Cause if you are not, then I am not sure why the platform would matter. But I would like to hear what you have to say.

I use the Navigator with the following windows open:

Level II ( Market Depth ) with Order Entry and I enter my LIMIT ENTRY orders from that window.

Positions window showing Basis, Lots, Last, Open P/L, Closed P/L and Commission with Order Entry and I enter my LIMIT EXIT orders from that window.

OrderBook showing Time, Action, Avg Execution Price and Message.

OpenOrders so I know if I have any VERY IMPORTANT!

Account Balances.

Since I usually only trade one pair at a time, I don't need anything else.

The only thing that I BEG THEM TO CHANGE is one click order entry from the Level II window by just clicking on the price. Another nice change would be to show NET PROFIT on the Balances window.

still cant get what this is about. Hope to see more explanations soon on how not to loose again

What do u mean by being an IB?

Thanks

TheRumpledOne 08-23-2008 01:05 AM

Off Topic...
 
Quote:

Originally Posted by pipnailer (Post 63944)
still cant get what this is about. Hope to see more explanations soon on how not to loose again

What do u mean by being an IB?

Thanks

IB is an introducing broker. When you sign up with a broker, if you specify that you were "introduced" or referred by someone who is an IB, the IB will receive (a very small) part of the commission you pay. It doesn't cost the trader any more money to say that they were referred.

TheRumpledOne 08-23-2008 01:19 AM

Trading is about making and keeping money. A big part of that is know when not to trade.

Ever now someone who went to the casino, it could be you, and the story goes like this...

"I was up X dollars, so I was playing with the casino's money and then the game turned cold."

"So did you win or lose money?"

"I lost." :mad:

What's the reason you don't quit while you're ahead in a game where the odds are stacked against you? Greed and stupidity come to mind first.

When you are trading, do you spend more time making back losses or more time riding profit?

We get back to the question, "Are you giving your money away?"

If you were going to hire someone to trade for you, what would you ask them? Would you want to see their track record? Would you want to know EXACTLY how they are going to trade your money? I bet you either answered "yes" and "yes" or you answer, "I would never let anyone else trade with my money". Is that correct? Do you know your own track record? Can you explain EXACTLY how you trade your money? THINK ABOUT IT.

You either win or lose when you trade, right? So what's your edge that stacks the deck in your favor?

What is trading? Do you realize trading is about 99% waiting for something to happen so you can either enter or exit the trade? Did you ever think about it in that way?

Do you have a list of conditions that tell you NOT to trade? If not, what's the reason you don't? Did you ever think about having such a list?

I want you to ponder these questions before we begin to STOP LOSING.

TO BE CONTINUED...

TheRumpledOne 08-23-2008 01:42 AM

http://i38.tinypic.com/1znv8tk.gif

What do you notice about the EURUSD daily chart?

Specifically, what do you notice about the candles?

You can ignore the gauges but they do contain a few "hints".

Sweet Pip 08-23-2008 02:20 AM

Quote:

Originally Posted by TheRumpledOne (Post 63953)
[IMG]
What do you notice about the EURUSD daily chart?

Specifically, what do you notice about the candles?

You can ignore the gauges but they do contain a few "hints".

Well...besides being red & green :D (ok, had a couple, it's Friday)...

From some of your posts, I think I read in one topic about if a red bar follows a green, then go short, if a green bar follows a red, then go long. The bars seem to span about a hundred, or more pips each. Some have long wicks, and some with a little being either above and/or below the bodies.
Then there's consolidations & breakout. What else should I have mentioned?
:)

pipnailer 08-23-2008 07:53 AM

Quote:

Originally Posted by Sweet Pip (Post 63955)
Well...besides being red & green :D (ok, had a couple, it's Friday)...

From some of your posts, I think I read in one topic about if a red bar follows a green, then go short, if a green bar follows a red, then go long. The bars seem to span about a hundred, or more pips each. Some have long wicks, and some with a little being either above and/or below the bodies.
Then there's consolidations & breakout. What else should I have mentioned?
:)

Quote:

Originally Posted by TheRumpledOne (Post 63953)
http://i38.tinypic.com/1znv8tk.gif

What do you notice about the EURUSD daily chart?

Specifically, what do you notice about the candles?

You can ignore the gauges but they do contain a few "hints".

In addition to sweetpip's, i noticed the reversal candle (is it called a Dodji?) that signalled the big ride down town.

You are actually sensitising me to some serious observations-thanks a million. My major challenge has always been when to exit a trade (either good or bad trade). There have been cases where immediately i exit a bad trade, the trend changes in my favour and would have given me a very good profit if i'd stayed. (my style now is to use a combination of Fib. levels, price action and trend line, but i sure still need a lot of help on these things, cause i'm not satisfied with my marginal results yet)

TheRumpledOne 08-23-2008 11:51 AM

I want you to notice something about your replies... are they "observations" or "interpretations"? There is a HUGE DIFFERENCE.

Observations would be:

"The rightmost candle is red."

"The rightmost candle's high was lower than the previous candle's high."

"The rightmost candle's low was higher than the previous candle's low."

"Price closed down"

"The bars seem to span about a hundred, or more pips each. Some have long wicks, and some with a little being either above and/or below the bodies."

Interpretations would be:

"i noticed the reversal candle (is it called a Doji?) that signaled the big ride down town."

"there's consolidations & breakout"

Do you see the difference?

The point is OBSERVATIONS are facts. INTERPRETATIONS are opinions.
Facts are true statements. Opinions are debatable. Facts will make you money. Opinions can cause you to lose your entire account.

When you can state OBSERVATIONS instead of INTERPRETATIONS then you will taken the first step to NEVER LOSING AGAIN.

Next question:

IF YOU GET ON THE WRONG TRAIN, HEADING IN THE OPPOSITE DIRECTION THAT YOU WANT TO GO, WHEN DO YOU GET OFF THAT TRAIN? DO YOU GET OFF ON THE FIRST STOP OR DO YOU WAIT UNTIL THE TRAIN REACHES ITS FINAL DESTINATION?

TO BE CONTINUED...

Sweet Pip 08-23-2008 09:16 PM

Quote:

Originally Posted by TheRumpledOne (Post 63979)
I want you to notice something about your replies... are they "observations" or "interpretations"? There is a HUGE DIFFERENCE.

The point is OBSERVATIONS are facts. INTERPRETATIONS are opinions.
Facts are true statements. Opinions are debatable. Facts will make you money. Opinions can cause you to lose your entire account.

When you can state OBSERVATIONS instead of INTERPRETATIONS then you will taken the first step to NEVER LOSING AGAIN.

Next question:

IF YOU GET ON THE WRONG TRAIN, HEADING IN THE OPPOSITE DIRECTION THAT YOU WANT TO GO, WHEN DO YOU GET OFF THAT TRAIN? DO YOU GET OFF ON THE FIRST STOP OR DO YOU WAIT UNTIL THE TRAIN REACHES ITS FINAL DESTINATION?

TO BE CONTINUED...

That's a good point. Today we went to The Fair (PNE-Pacific National Exihibition) and among other activities, went to "feed the ponies" :D. Now we only go about once a year so I'm not a sports better by any means, but this time I decided to check each horse's time in their past races to make my bets instead of usin my usual criteria....horse's name, lucky number, past wins, etc. :rolleyes:. Know what...I won!...on 3 different races! The "fact" that horse "X" had faster times than the others made it a higher probability. Of course other betters musta had the same idea as the odds were low so didn't make much on them, but still, it paid off :)

Now the train question. That's still my problem about the first stop...I don't know if the next stop is the final destination or not (as in retrace or reversal). I think if it's not (as in reversal), then I'd want to get off, but if it is (retrace) and comes back, then I might as well stay on...no? :confused:

TheRumpledOne 08-23-2008 10:27 PM

Quote:

Originally Posted by Sweet Pip (Post 64041)
That's a good point. Today we went to The Fair (PNE-Pacific National Exihibition) and among other activities, went to "feed the ponies" :D. Now we only go about once a year so I'm not a sports better by any means, but this time I decided to check each horse's time in their past races to make my bets instead of usin my usual criteria....horse's name, lucky number, past wins, etc. :rolleyes:. Know what...I won!...on 3 different races! The "fact" that horse "X" had faster times than the others made it a higher probability. Of course other betters musta had the same idea as the odds were low so didn't make much on them, but still, it paid off :)

Now the train question. That's still my problem about the first stop...I don't know if the next stop is the final destination or not (as in retrace or reversal). I think if it's not (as in reversal), then I'd want to get off, but if it is (retrace) and comes back, then I might as well stay on...no? :confused:

NO ONE KNOWS and that's why the market exists.

You are exhibiting confusion and emotions. I don't say that to be mean or ridicule you.

If you had a plan, you would exit, wait and see what happens next. If the train did reverse, you could probably run and catch it. But if it did not reverse, at least you are no longer going in the wrong direction.

HOW DO YOU KNOW WHAT DIRECTION THE TRAIN IS MOVING?

TO BE CONTINUED...

Sweet Pip 08-23-2008 10:55 PM

Quote:

Originally Posted by TheRumpledOne (Post 64050)
NO ONE KNOWS and that's why the market exists.

You are exhibiting confusion and emotions. I don't say that to be mean or ridicule you.

If you had a plan, you would exit, wait and see what happens next. If the train did reverse, you could probably run and catch it. But if it did not reverse, at least you are no longer going in the wrong direction.

HOW DO YOU KNOW WHAT DIRECTION THE TRAIN IS MOVING?

TO BE CONTINUED...

Somehow I knew you'd say that :rolleyes:

But at least I'm calmly confused :D

pipnailer 08-23-2008 11:00 PM

Quote:

Originally Posted by TheRumpledOne (Post 64050)
NO ONE KNOWS and that's why the market exists.

You are exhibiting confusion and emotions. I don't say that to be mean or ridicule you.

If you had a plan, you would exit, wait and see what happens next. If the train did reverse, you could probably run and catch it. But if it did not reverse, at least you are no longer going in the wrong direction.

HOW DO YOU KNOW WHAT DIRECTION THE TRAIN IS MOVING?

TO BE CONTINUED...

I would get off on the first stop and wait for my strategy to signal me in again.

In forecasting the trend direction, i majorly use a combination of moving averages, rsi and stoch. I also look at fib levels and read economic data to better predict the trend direction.

This is becoming interesting, i'm beginning to woner where exactly you are trying to lead us to, but so far, so good.

TheRumpledOne 08-24-2008 01:30 AM

I am not trying to lead you.

All I want you do to is SEE. To actually SEE price and what it is doing.

"In forecasting the trend direction, i majorly use a combination of moving averages, rsi and stoch. I also look at fib levels and read economic data to better predict the trend direction."

What is the reason you think you need all of those indicators? Can't you just SEE which way the price is moving? Price is an INPUT to moving averages, rsi and stoch. That means they lag. But fib levels, now you're getting warm.

Predict? There is no need to predict if one can RECOGNIZE accurately and react accordingly. Price can only go up or down. THINK ABOUT IT.

TO BE CONTINUED...

TheRumpledOne 08-24-2008 02:31 PM

Can you fill in the blanks:


1) I will NOT trade if/when __________________________________________

2) I will ONLY trade LONG if/when ____________________________________

3) I will ONLY trade SHORT if/when ___________________________________

4) I will STOP trading for the day if/when ______________________________

5) I will STOP trading if I lose ____ pips or _____ trades in a row or $_______

6) I will STOP trading if i make ____ pips or _____ trades in a row or $______

7) I ONLY trade between the hours of _____ and _____

8) I ONLY trade on Sun( ) Mon( ) Tues( ) Wed( ) Thur( ) Fri( ) Sat( )

9) I will NEVER trade if/when ________________________________________

10) I ALWAYS do this BEFORE I begin trading ___________________________

TheRumpledOne 08-24-2008 02:37 PM

Success in Trading Formula

S = SUCCESS

A = NUMBER OF SYSTEMS USED

B = NUMBER OF CHARTS USED

C = NUMBER OF INDICATORS USED (PRICE COUNTS AS 1)

D = NUMBER OF PEOPLE/FORUMS/CHATS/NEWS LISTENED TO/READ (YOU =1)

E = NUMBER OF PAIRS TRADED SIMULTANEOUSLY (MINIMUM 1)

F = NUMBER OF COMPUTER/MONITORS USED

S = ( A+B+C+D+E+F) / (A*B*C*D*E*F)

THINK ABOUT IT!

TO BE CONTINUED...

TheRumpledOne 08-24-2008 02:44 PM

PONDER THIS...

You have been given the opportunity to trade $1,000,000.00 with 100:1 leverage. You get to keep all the profit. You do NOT have to pay back any loss.

What's the catch?

1) You have to decide on your trade the DAY BEFORE!

2) You have to give the trading instructions to someone else to execute.

3) You only get ONE TRADE. One entry. One exit.

You must tell the trader what to trade, when to trade and how to trade in detail.

Sound IMPOSSIBLE?

If you think this is IMPOSSIBLE then how do you trade? Don't you know what to trade, when to trade it and how to trade it BEFORE you enter a trade?

TO BE CONTINUED...

pipbulldog 08-24-2008 04:20 PM

Just started reading your thread.Very interesting so far but the suspense is a killer.I understand price movement is the only true leading indicator,but being a newbie (in this for about 1 1/2 years) I have yet seen anyone who can explain how to interpret the movements in order to be consistently profitable.I think we are all dying to know where you are going with this.

TheRumpledOne 08-24-2008 07:34 PM

Quote:

One of my favorite stories concerns a Buddhist scholar and a Zen Master. The scholar had an extensive background in Buddhist Studies and was an expert on the Nirvana Sutra. He came to study with the master and after making the customary bows, asked her to teach him Zen. Then, he began to talk about his extensive doctrinal background and rambled on and on about the many sutras he had studied.

The master listened patiently and then began to make tea. When it was ready, she poured the tea into the scholar's cup until it began to overflow and run all over the floor. The scholar saw what was happening and shouted, "Stop, stop! The cup is full; you can't get anymore in."

The master stopped pouring and said: "You are like this cup; you are full of ideas about Buddha's Way. You come and ask for teaching, but your cup is full; I can't put anything in. Before I can teach you, you'll have to empty your cup."

This story is and old one, but it continues to be played out in our lives day-by-day. We are so enamored of our own ideas and opinions and so trapped by our conditioning that we fill ourselves up to the brim and nothing can get in.

Emptying Your Cup - Nebraska Zen Center


TO BE CONTINUED...

TheRumpledOne 08-24-2008 07:42 PM

http://i33.tinypic.com/2mc62vd.gif

This is from today.

Do you SEE the entry?

TheRumpledOne 08-24-2008 07:43 PM

http://i35.tinypic.com/1425177.gif

Does that make it clearer?

TheRumpledOne 08-24-2008 08:33 PM

http://i34.tinypic.com/15mifkx.gif

Now can you see the price action?

TheRumpledOne 08-24-2008 08:34 PM

http://i37.tinypic.com/zko8iw.gif

Or do you have conflicting messages?

Go Short? Or do you Go Long?

Which indicator do you follow?

TheRumpledOne 08-24-2008 08:41 PM

http://i37.tinypic.com/2rgdgus.gif

Maybe a few HORIZONTAL LINES is all you need?

TheRumpledOne 08-24-2008 09:14 PM

http://i35.tinypic.com/29a6i8.gif

HORIZONTAL LINES

http://i37.tinypic.com/35li2ip.gif

OR SQUIGGLY LINES

Which do you prefer?

kelong 08-25-2008 12:02 AM

understand the indicator
 
1 Attachment(s)
I am newbie forex Mr.TRO,
can you explain about the chart?

1.I only can see the half of currency heat map.
2.I not understand the change of colour currency heat map.
3.why the d1 and week1 signal keep change in time?
4.what the function of the percentage?

I wish to learn from Mr.TRO.Can you help me about the entry signal.I not a full time trader and i prefer trade on daily.

TheRumpledOne 08-25-2008 12:25 AM

Quote:

Originally Posted by kelong (Post 64208)
I am newbie forex Mr.TRO,
can you explain about the chart?

1.I only can see the half of currency heat map.
2.I not understand the change of colour currency heat map.
3.why the d1 and week1 signal keep change in time?
4.what the function of the percentage?

I wish to learn from Mr.TRO.Can you help me about the entry signal.I not a full time trader and i prefer trade on daily.

I answered your HEAT MAP questions in the Heat thread, OK?

http://forums.babypips.com/show-me-m...html#post64211

TheRumpledOne 08-25-2008 01:05 AM

http://i37.tinypic.com/2vabc4m.gif

Switched to M15 and got another profitable trade.

Do you believe the TIME FRAME has anything to do with it?


--- OFF TOPIC ---

By the way, I exited at 202.90 from the ASK!! Try that with a FIXED SPREAD BROKER. :p

TheRumpledOne 08-25-2008 04:59 PM

If you had a system that didn't give an entry signal all day, would you scrap it?


THINK ABOUT IT!

TO BE CONTINUED...

Sweet Pip 08-26-2008 01:51 AM

Quote:

Originally Posted by TheRumpledOne (Post 64118)
Can you fill in the blanks:


1) I will NOT trade if/when __________________________________________

2) I will ONLY trade LONG if/when ____________________________________

3) I will ONLY trade SHORT if/when ___________________________________

4) I will STOP trading for the day if/when ______________________________

5) I will STOP trading if I lose ____ pips or _____ trades in a row or $_______

6) I will STOP trading if i make ____ pips or _____ trades in a row or $______

7) I ONLY trade between the hours of _____ and _____

8) I ONLY trade on Sun( ) Mon( ) Tues( ) Wed( ) Thur( ) Fri( ) Sat( )

9) I will NEVER trade if/when ________________________________________

10) I ALWAYS do this BEFORE I begin trading ___________________________

Is this exercise rhetorical or were you looking for some replies to this before continuing, otherwise still looking forward for you to continue :)

TheRumpledOne 08-26-2008 02:27 AM

Whether or not you post your answers is up to you.

Feel free to use those questions in your own trading plan.

TheRumpledOne 08-26-2008 02:34 AM

What do you do after you enter a trade?

I assume you "wait" for your exit?

So what exactly are you doing while you are waiting for your exit?

Sweet Pip 08-26-2008 03:02 AM

Quote:

Originally Posted by TheRumpledOne (Post 64427)
What do you do after you enter a trade?

I assume you "wait" for your exit?

So what exactly are you doing while you are waiting for your exit?

Well, at present (subject to change if it's not a good idea) I look at other pairs looking for possible setups forming for the next trade. Although, while I'm doing that I can still see what the current trade is doing in profit/loss, and keep checking back to the chart to adjust the stoploss. Also, sometimes I've entered the trade and then left...to go to work, bed, bathroom etc, and hope it hits the t/p and not the s/l :D

pipnailer 08-26-2008 06:18 AM

Quote:

Originally Posted by TheRumpledOne (Post 64215)
http://i37.tinypic.com/2vabc4m.gif

Switched to M15 and got another profitable trade.

Do you believe the TIME FRAME has anything to do with it?


--- OFF TOPIC ---

By the way, I exited at 202.90 from the ASK!! Try that with a FIXED SPREAD BROKER. :p

What did you base your entry on?

Quote:

Originally Posted by TheRumpledOne (Post 64345)
If you had a system that didn't give an entry signal all day, would you scrap it?


THINK ABOUT IT!

TO BE CONTINUED...

No i will not scrap it, but patiently wait for a signal. I might scrap a system if its signals keep ending up in unprofitable trades
Quote:

Originally Posted by TheRumpledOne (Post 64427)
What do you do after you enter a trade?

I assume you "wait" for your exit?

So what exactly are you doing while you are waiting for your exit?

While waiting for my exit, i attend to other issues or go catch some fun, better still take time to analyse other markets and or update my knowledge base of forex (like i'm doing now)

rantinraven 08-26-2008 07:13 AM

I just read through the thread. Thank you for your postings so far. I look forward to seeing where this is going. Raven

hoss 08-26-2008 01:02 PM

I trade off of the dailies so I don't have to sit around and watch the screen all day. So, I can do a bunch of stuff while trades are open. I also would not scrap a system that does not give me signals each day. As long as I know my percentage edge, I'll take the trades as they come.

daedalus 08-26-2008 01:24 PM

TRO - I know this thread is all about self exploration and trying to see price action, but i'm a visual learner... is there anyway you could put up any kind of marker or arrow to put exactly where you would've entered into a trade? I have followed your work since the TS forums and am a huge fan, but i'm never able to figure out how to interpret your charts that you post (and thats nothing against you!).

In your most recent post I can see a number of different engulfing patterns that could've signaled you short, other than that I don't know.

Cheers mate!

Sweet Pip 08-26-2008 01:50 PM

Quote:

Originally Posted by TheRumpledOne (Post 64118)
Can you fill in the blanks:

Yes thinking about this stuff is helpful in one's discipline I'd say. It may be missing something & subject to change but lately it's been working for me since I started looking at it this way.


1) I will NOT trade if/when a news report that could affect a potential trade is about to be released. Also, if the momentum is really low and the price is approaching a s&r line.

2) I will ONLY trade LONG if/when price is going in the general direction of the trend and bouncing off a support line and momentum is picking up

3) I will ONLY trade SHORT if/when price is going in the general direction of the trend and bouncing off a resistance line and momentum is picking up

4) I will STOP trading for the day if/when it's time to go to bed :D (I say this because of my time zone, and when I feel it's best to start begins in the evening for me)

5) I will STOP trading if I lose 20-40 pips or _____ trades in a row or $_______

6) I will STOP trading if i make 20-40 pips or _____ trades in a row or $______

7) I ONLY trade between the hours of 00:00 and 7:00, and also 14:00 & 15:00 GMT

8) I ONLY trade on Sun(x) Mon(x) Tues(x) Wed(x) Thur(x) Fri( ) Sat( )

9) I will NEVER trade if/when the momentum is low or slowing and price is going against the general trend.

10) I ALWAYS do this BEFORE I begin trading check when news releases are coming out, where price is in relation to s&r, what the momentum is, candlestick patterns, where a profit target is, and where to put the s/l

TheRumpledOne 08-26-2008 03:55 PM

Thank you all for responding.

I see some of you want to know where this is "going". That implies a final destination. What if there is no final destination? What if there is only discovery and new lessons every day? What if we go in circles?

Quote:

Is there anyway you could put up any kind of marker or arrow to put exactly where you would've entered into a trade?
I could but that doesn't help you "SEE IT". It's like one of those pictures that if you look at it one way you see the OLD HAG but if you look at it another way you see the FAIR MAIDEN. Knowing that they are both there is really all that is necessary. You decide which one you want to look at.

I could detail the explanation but that same event may never happen again in the same way.

You take the trade based on what I say and it fails.

You'll ask me about it and I'll say, "But didn't you see X"?

You'll say, "Why didn't you tell me about X before?"

I'll say, "X wasn't there before."

ENDLESS LOOP!!

That's why you must learn to SEE IT with your own eyes.

Thanks again, everyone.

TO BE CONTINUED...


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