The ideas that I trade by:

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
LeMercenaire
rank: 500+ posts
rank: 500+ posts
Posts: 728
Joined: Tue Sep 27, 2016 12:11 am
Reputation: 843
Gender: None specified

Re: The ideas that I trade by:

Postby LeMercenaire » Fri Apr 13, 2018 1:10 am

Leoheart wrote:
LeMercenaire wrote:
thepark wrote:
The thing is I never tried trading with my first idea because I've always had an elaborate set of rules to keep me out of trouble and I've never traded consistently.

Really the princples im trading with are buy or sell at the point of origin of buy or sell breakout, but when im trading with rules im usually entering later with a m15. its hard to say with what method i would do better with. What do you suggest LeMercenaire? I know MO didnt give a damn about confirmation, but im no MO.

sidenote: i pretty much look for H4 break out/breakin then a m30 40 sma cross to confirm the direction and continue trading with the H4 momos until an opposite H4 bo/bi. i will miss the trades where H4 just pops without a pb.


I wouldn't presume to tell you which method you should trade, only you can tell how comfortable you are with any given technique.

What I would say, is that to me, you are looking at things the wrong way round. You are finding your set up and then waiting for confirmation from your sma cross. Any kind of moving average cross is always going to lag, that's a given, so you're always going to be behind the curve unless you get some kind of test-retest kind of thing going on. As you noted, this doesn't always happen and you do indeed miss the boat.

You need to look at finding your directional bias before you find your set up. If the trade (a breakout for instance) breaks in the wrong way, then you simply let it go, only taking the moves that go with the bias you have already established.

If you like the H4 tf and a breakout / break-in (WZ) type trade, I would suggest looking at AU and a specific candle (the 04:00 - 08:00 UK time candle). This has been extensively researched by a colleague who knows his stuff, using frequency distribution stats and - to cut a long story short - if the break of the high or low fails to make the target (+5% or pips, your call), then the stats show that the reverse will go a good distance toward the daily range.

This reverse can be done using a counter trade, or if you are not able to use counter-trading due to country-restrictions, then a hard-stop and re-entry can be used just as effectively.

I use this method combined with WZ and it improves the results even more. That as well as S+D cw pivots and weekly open for my directional bias.

As noted, the target is seemingly modest, however we all know the power of compounding.

Anyway, so much for not suggesting a specific method.

My main point would be to strip it back and simplify your approach. As it stands now, you are showing a classic case of ''paralysis-through-analysis'', overthinking everything to death.

(If you can't easily trade that candle due to time-zone differences, then there are other options for you. If this kind of thing interests you, let me know and I can get you the details).


Details please :) and examples. We see in pictures. Not sure you what mean about target +5% or pips. This number Changes at will? How do you run stats on variable value? Sorry I am confused.

Also not too clear on the counter trade idea. As country-restrictions was mentioned.Let’s say our broker permitted hedging, are we hedging our bets?


No worries - I'll try and put together some examples.

Not everyone is comfortable using a percentage system of tp, so what I meant was, it's just as easy to aim for +5 pips if that works better for you. Using a percentage tp is easy for me as I am using a spread-betting broker and it makes it a doddle to calculate ''stakes''.

Countering means that if a trade goes against me before the tp is reached, I will open a position in the opposite direction. So yes, it is in effect, hedging, or nedging as it is known to differentiate it from true hedging.

This keeps any negative as a ''floating loss'' in limbo, where it can be worked on at leisure. Unwinding the counter a bit at a time. It's not for everyone and those in the US who are prohibited from hedging, can't use it anyway (well, they can - but it involves opening two accounts, one to go long with, the other short).

I should say that this method is not my own but borrowed and adapted from a friend who uses it in a slightly different way. The principles are the same, however.

As I said, I'll try and put together some examples. I don't use the AU 04:00 thing so much any more, preferring my own DAX-Monster trade at the UK Open. Can't normally do both.

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

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 12949
Joined: Sun May 14, 2006 9:31 pm
Reputation: 1612
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Re: The ideas that I trade by:

Postby TheRumpledOne » Fri Apr 13, 2018 1:37 pm

John S. wrote:
TheRumpledOne wrote:
John S. wrote:
TRO - you create your own reality. If you want to be annoyed, then so be it! I'm amazed that I have this much control over your emotions....lol.

Have a great weekend. :)


No. You have NO CONTROL over my emotions. Most of the time, you are ignored. Think about it... If I truly were annoyed by you, I would have banned you... END OF ANNOYANCE!



TRO is now backpedaling from his earlier comment...........so funny, but not surprising. LOL. 8)


The topic is: "The ideas that I trade by".

John S., your comment is OFF TOPIC. I will just delete future OFF TOPIC comments from you. And I will issue a warning. I think 3 warnings (strikes) and you are out. YOU HAVE BEEN WARNED!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

thepark
rank: 50+ posts
rank: 50+ posts
Posts: 78
Joined: Fri Jul 09, 2010 5:00 pm
Reputation: 58
Gender: None specified

Re: The ideas that I trade by:

Postby thepark » Mon Apr 16, 2018 3:05 pm

IgazI wrote:
thepark wrote:Hi Igazl

I noticed your three Time frame set up. Would you be able to give a simple summary of what you are looking from each TF for a trade? And which TF candle color you trade with?

Very interesting that I noticed that dragon33 said "dont think too much, trade what you see" and recently you said "your first idea is the best". because my first idea is always different from my entry from my trading rules. should i just go with my gut?


Your first idea is noble and brave, your second is ignoble and cowardice.

H12: summary information concerning the H4, closes are potential price levels, color is respected but if price moves to the prev. open then the color is based on the prev. open until the close of the current candle.

H4: rough history of the M30 chart & the smallest chart from which I get price levels (multiple closes, a close and a wick, or a wick and a close, but never just wicks)

M30: is nothing on its own but elaborates on the information obtained from larger charts (price levels/prev. selling, color/willingness to go lower and stay lower, etc). If the H4, or some multiple of M30, closes above an H4+ close then I might adjust the price level to the M30 close.

Trades are decided upon before the M30 open and placed, whether M/S/orL, as soon as there is a new candle.

And, of course, if price doesn't have a reasonable chance of crossing the AO shortly after entry then it is probably going to be a bouncy ride.


save.png


if H12 color is always respected wouldn't you miss a lot of the trades at extreme after a long candle and trade the BO more often? it seems like the trend towards using the AO cross gives later entries.

User avatar
IgazI
rank: 50+ posts
rank: 50+ posts
Posts: 97
Joined: Sat Feb 17, 2018 5:28 pm
Reputation: 120
Gender: None specified

Re: The ideas that I trade by:

Postby IgazI » Mon Apr 16, 2018 4:44 pm

thepark wrote:
if H12 color is always respected wouldn't you miss a lot of the trades at extreme after a long candle and trade the BO more often? it seems like the trend towards using the AO cross gives later entries.


I'm trying to picture the problem that you are presenting me with...

I use large chart colors because
1. if a candle is red then it is likely to stay red
2. range expansions take time
3. if price is pushing on the low then all trend lines are pointing down on small charts

I don't like to trade against color because there is only one highest high and lowest low and over time price is likely to continue moving in the direction of color or at least retain its color all the way to the close.

doodle.png
doodle.png (15.06 KiB) Viewed 297 times

You don't wait for the AO cross, you wait for the AO to draw near so that there is a higher probability of a strong AO cross shortly after your entry.
x.png
x.png (113.02 KiB) Viewed 297 times

User avatar
IgazI
rank: 50+ posts
rank: 50+ posts
Posts: 97
Joined: Sat Feb 17, 2018 5:28 pm
Reputation: 120
Gender: None specified

Re: The ideas that I trade by:

Postby IgazI » Mon Apr 16, 2018 9:55 pm

TheRumpledOne wrote:
... YOU HAVE BEEN WARNED!


You don't tug on superman's cape
You don't spit into the wind
You don't pull the mask off that old lone ranger
And you don't mess around with [TRO]

:D

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

thepark
rank: 50+ posts
rank: 50+ posts
Posts: 78
Joined: Fri Jul 09, 2010 5:00 pm
Reputation: 58
Gender: None specified

Re: The ideas that I trade by:

Postby thepark » Tue Apr 17, 2018 3:41 pm

IgazI wrote:
thepark wrote:
if H12 color is always respected wouldn't you miss a lot of the trades at extreme after a long candle and trade the BO more often? it seems like the trend towards using the AO cross gives later entries.


I'm trying to picture the problem that you are presenting me with...

I use large chart colors because
1. if a candle is red then it is likely to stay red
2. range expansions take time
3. if price is pushing on the low then all trend lines are pointing down on small charts

I don't like to trade against color because there is only one highest high and lowest low and over time price is likely to continue moving in the direction of color or at least retain its color all the way to the close.

doodle.png
You don't wait for the AO cross, you wait for the AO to draw near so that there is a higher probability of a strong AO cross shortly after your entry.
x.png


the problem was actually when i was thinking about this entry on the GJ. Due to the huge wick on the last 12 hr candle, you're entering when price is already breaking down. would you enter on the red arrow down on the m30?

Oh btw, are you using tradingview charts?

Image

User avatar
IgazI
rank: 50+ posts
rank: 50+ posts
Posts: 97
Joined: Sat Feb 17, 2018 5:28 pm
Reputation: 120
Gender: None specified

Re: The ideas that I trade by:

Postby IgazI » Wed Apr 18, 2018 5:02 am

thepark wrote:the problem was actually when i was thinking about this entry on the GJ. Due to the huge wick on the last 12 hr candle, you're entering when price is already breaking down. would you enter on the red arrow down on the m30?

Oh btw, are you using tradingview charts?


Yes, I am using tradingview charts :)

I would like both color and confluence but I will roll with color some of the time and see what happens...
look at how much better the entry is when you have: prev. buying, a low pivot as a trigger, a TL break, and an AO ZL break.

save.png
save.png (187.16 KiB) Viewed 147 times


prevBUYING.png
prevBUYING.png (26.61 KiB) Viewed 147 times

thepark
rank: 50+ posts
rank: 50+ posts
Posts: 78
Joined: Fri Jul 09, 2010 5:00 pm
Reputation: 58
Gender: None specified

Re: The ideas that I trade by:

Postby thepark » Wed Apr 18, 2018 4:13 pm

IgazI wrote:
thepark wrote:the problem was actually when i was thinking about this entry on the GJ. Due to the huge wick on the last 12 hr candle, you're entering when price is already breaking down. would you enter on the red arrow down on the m30?

Oh btw, are you using tradingview charts?


Yes, I am using tradingview charts :)

I would like both color and confluence but I will roll with color some of the time and see what happens...
look at how much better the entry is when you have: prev. buying, a low pivot as a trigger, a TL break, and an AO ZL break.

save.png

prevBUYING.png


nice, i just started using TV as well. are your two charts that say "line break" m30 and H4 charts?

on your m30 markup, i longed too early where the 2 is, got stopped out, then got faked out shorting underneath where you marked ZL. my takeaway is always wait for a wick after the initial breakout or if its at previous level and crosses the AO with color then maybe enter half size.

did you get that long at around 153.10 in your preBUYING.png? :shock:

Image

thepark
rank: 50+ posts
rank: 50+ posts
Posts: 78
Joined: Fri Jul 09, 2010 5:00 pm
Reputation: 58
Gender: None specified

Re: The ideas that I trade by:

Postby thepark » Wed Apr 18, 2018 4:14 pm

thepark wrote:
IgazI wrote:
thepark wrote:the problem was actually when i was thinking about this entry on the GJ. Due to the huge wick on the last 12 hr candle, you're entering when price is already breaking down. would you enter on the red arrow down on the m30?

Oh btw, are you using tradingview charts?


Yes, I am using tradingview charts :)

I would like both color and confluence but I will roll with color some of the time and see what happens...
look at how much better the entry is when you have: prev. buying, a low pivot as a trigger, a TL break, and an AO ZL break.

save.png

prevBUYING.png


nice, i just started using TV as well. are your two charts that say "line break" m30 and H4 charts?

on your m30 markup, i longed too early where the 2 is, got stopped out, then got faked out shorting the false BO where you marked ZL. my takeaway is always wait for a wick after the initial breakout or if its at previous level and crosses the AO with strength and color then maybe enter half size.

did you get that long at around 153.10 in your preBUYING.png? :shock:

Image

User avatar
IgazI
rank: 50+ posts
rank: 50+ posts
Posts: 97
Joined: Sat Feb 17, 2018 5:28 pm
Reputation: 120
Gender: None specified

Re: The ideas that I trade by:

Postby IgazI » Thu Apr 19, 2018 4:52 am

thepark wrote:
nice, i just started using TV as well. are your two charts that say "line break" m30 and H4 charts?

on your m30 markup, i longed too early where the 2 is, got stopped out, then got faked out shorting underneath where you marked ZL. my takeaway is always wait for a wick after the initial breakout or if its at previous level and crosses the AO with color then maybe enter half size.

did you get that long at around 153.10 in your preBUYING.png? :shock:


No, unfortunately that was just an example :)

The 4 SMA on the 12 minute 1-break chart is very similar to a 30 minute chart.

I have found that I need to halve (or reduce to 40%) the chart period, when using line-break charts, to see what I am looking for.

The 2-break simplifies the small chart and holds onto color longer and that is basically what the H4 was being used for.

The ATR was moved over to the 12 hour, because the break charts have no high or low, and now I just use ATR / 2.5 as the line width.

I still like the M30, H4, H12 configuration, but I like the simplicity of the break charts more. :D

break.png
break.png (96.7 KiB) Viewed 73 times


Some examples of just going along with areas of prev. buying/selling:

goog.png
goog.png (53.43 KiB) Viewed 73 times

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


Return to “TheRumpledOne”