Simple as 1-2-3

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aliassmith
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Re: Simple as 1-2-3

Postby aliassmith » Tue Dec 09, 2014 2:36 pm

Captain Pugwash wrote:
aliassmith wrote:
Captain Pugwash wrote:Thanks to both of you! Ric for the Response - thanks for putting your time in - its truly appreciated

And MO for taking an active interest in my particular "misquote" - an interpretation of your words that I have been actively "trading" for some time! :oops:

This may explain why 75% of my trades are almost immediately profitable

But I have such big tp's that only 30 something % of my trades are winners - MAN I am embarrassed to say what I've been doing :oops:

Because I have never moved my stops, the rest have been ...well ... not break even :)

and yet my account is somehow (and unbelievably) profitable ( slightly).

And another point MO - I take your work VERY seriously - as seriously as if i had paid for your words of wisdom - even tho I may have misinterpreted those words

What a Wally I've been - I shall now crawl under the nearest rock


i have a possible solution for you. Don't move your
stop but do scale out half at 1:1.


Yep Alias. you are right - I may go back to doing http://kreslik.com/forums/viewtopic.php?p=74520#p74520 this technique ( its over three posts) - Its much easier than it looks ( or how I marked it up) and gives me the intention from the beginning of adding back in again - because I KNOW the only way to do what you guys do is to ADD to a position


My opinion is to not focus on the "you guys" and
do what works best for you. People make a lot of
money scaling out and others make money scaling
in.

For most people that make it work, they start out
losing. They then become break even and then
profitable. Once profitable you fine tune your
execution and money management.
Trade Your Way as Long as It Makes Money!

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dchappy
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Re: Simple as 1-2-3

Postby dchappy » Wed Dec 10, 2014 6:14 am

Paulus has a nice explanation of how he trades the 1-2-3 pattern . A good read for breakout traders . The file is too large to post ,but you can find it at FOREX factory . Search for Paulus threads .

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Captain Pugwash
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Re: Simple as 1-2-3

Postby Captain Pugwash » Thu Dec 11, 2014 1:34 pm

scaled out as alias suggested - but by taking a step one fib number off at the 0.00 fib my position is now at the 1.618 ( so my original stop is not moved)
( i.e. if i initially had 34 lots on I would remove 13 lots at the zero % fib - and be left with 21 still on the table - and with my position protected)
this allows me to have more lots left on the trade for my target

Image
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

aliassmith
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Re: Simple as 1-2-3

Postby aliassmith » Thu Dec 11, 2014 1:56 pm

Captain Pugwash wrote:scaled out as alias suggested - but by taking a step one fib number off at the 0.00 fib my position is now at the 1.618 ( so my original stop is not moved)
( i.e. if i initially had 34 lots on I would remove 13 lots at the zero % fib - and be left with 21 still on the table - and with my position protected)
this allows me to have more lots left on the trade for my target

Image


I think scaling out and not moving your stop satisfies the Mo-ism.
"Take a profit or take a lose but don't move your stop loss" -MO
Check my thread there is a video you may like if you didn't already watch it
Trade Your Way as Long as It Makes Money!

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Captain Pugwash
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Re: Simple as 1-2-3

Postby Captain Pugwash » Tue Dec 16, 2014 1:45 pm

how it panned out - Thanks Ric and Alias

the first scale was using the 61.8 fib method the second using Aliassmiths approach - I am playing with this idea on a smaller account - I intend only to keep an eye on a couple of pairs

Image

the second trade broke the trendline of the cci but was too far from the pointy in my opinion - so i entered on the retrace to the basing
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

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Re: Simple as 1-2-3

Postby dchappy » Thu Jan 01, 2015 3:48 pm

Nope, I didn't trade this perfect 123 .My broker was closed ,as most were yesterday . There was a time in this journey when missing a move like this would frustrate me to no end . Those days are gone (thankfully) . Now I try to focus on trading less . In 2014 I traded about 5 months total .This year may be the same .My goals are to trade each month till a $ amount is hit and then quit .I truly hope that each trader here will reach his/her goals this year . God Bless ........... :smt023

dchappy
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Re: Simple as 1-2-3

Postby dchappy » Thu Jan 01, 2015 3:51 pm

Chart
Screenshot_2015-01-01-10-22-35.png
Screenshot_2015-01-01-10-22-35.png (26.41 KiB) Viewed 828 times

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prochargedmopar
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Re: Simple as 1-2-3

Postby prochargedmopar » Fri Jan 02, 2015 12:25 am

you still trading the m5 equivalent chart.
What do your trading charts actually look like now?
BTW, chappy New year!
;)
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

dchappy
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Re: Simple as 1-2-3

Postby dchappy » Fri Jan 02, 2015 2:30 am

Hi Pro , all my trading is done on a tablet now .Very basic mobile app ,but I love it .I use a 15 m for FOREX and a 5min for NQ . Still using the macd and a trend line for entries .Good luck to you this year .
Screenshot_2015-01-01-21-23-17.png
Screenshot_2015-01-01-21-23-17.png (99.37 KiB) Viewed 828 times

aliassmith
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Re: Simple as 1-2-3

Postby aliassmith » Fri Jan 02, 2015 2:46 am

dchappy wrote:Hi Pro , all my trading is done on a tablet now .Very basic mobile app ,but I love it .I use a 15 m for FOREX and a 5min for NQ . Still using the macd and a trend line for entries .Good luck to you this year .
Screenshot_2015-01-01-21-23-17.png


I love the tablet idea. I think I may get this
http://www.bestbuy.com/site/microsoft-s ... Id=6244044
Trade Your Way as Long as It Makes Money!

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