ProchargedMopar's Trading Trilogy

[TheRumpledOne]

Pro, you have email.

[prochargedmopar]

For TRO

Fib retracement tool settings and use.

https://screencast-o-matic.com/watch/c3VjDhVo0C1

[TheRumpledOne]

I wonder if anyone ever took this challenge that was not already a trading master?? (like es/pip, ect)

Mightyone Wrote:

I offer a special challenge to those who dare accept it.

1. Place a horizontal line on the first price you see when you sit down to trade.

2. Make a note of the current time and do not move the line you have placed for 8 hours.

3. You may only trade away from the line.

4. Your line exists in all time frames.

5. You must have a body close in the direction of profit in at least 1 time frame and may not liquidate for less than 0.3333 pips multiplied by the minutes of the above time frame (15m chart * 0.3333 = 4.9 pip min. profit).

6. No indicators whatsoever! The only thing that should be on the chart is that single horizontal line.

7.It is ok to demo the challenge for 5 trading days by placing the line and then coming back to it after 8 hours and post how you think you would have traded away from it.

8. The challenge is to trade this way live for 5 days.

If you should be so brave as to accept then I would like to hear what you have learned from this exercise

I hadn't seen this challenge before.

I sure hope this doesn't turn RATS into Yale students...LOL!!

You can do this and still be a RAT but you only get to trade in one direction. That makes you wait.

Memories

[prochargedmopar]

For TRO

Fib retracement tool settings and use.

https://screencast-o-matic.com/watch/c3VjDhVo0C1

You could flip the - and + around so the fib tool can be pulled from where you entered to where you want your stop instead.
Also, If risking "lines" I really only want to risk ONE H1 line to make 2+ lines.
The STOP level is just catastrophic. (2 lines)
Keep in mind we have 8 lines total "in the bank" to use as risk before we are blown up..
If price goes past the first line it better start turning back fast or it's time to bail.

This is all old MM from MOs Ideas thread that I never put into practice.
Eights strategy.

[prochargedmopar]

Thank you MO!

I love this pic but I'm not getting the math at the bottom of the chart.
12.5 over 2 lines is the starting risk.
Then you made 5 lines, why 12.5 became 17.2 and then 27.9?

We started by risking $12.50/line.
+3 lines is ((8+3) / * $12.50 or roughly $17.20
+5 lines is (13/8)$17.20 or roughly $27.90 per line.
-2 lines is (6/8)$27.90 or 8 lines of $20.90

The rule for reducing our position size is that we don't go below the min. size of $12.50/line

The chart showed the hourly, 4-hour, & and daily line spacing with an ending size of 4 lines of $148.40 at the daily
level. From there we would bring it back to 4 lines after a loss and that might look something like this (1.8/4)148.40
or $66.70/line and then +2 lines is (6/8)66.70 or 8 lines of $50.

"What remains and how am I going to utilize it", that is the only question that you should be asking after a 'losing' trade.

You don't need to get the next trade right, you need to: focus on the money, take risks, & deal with the consequence.

If you didn't destroy your risk-box then it doesn't matter and if you didn't reach your profit goal then don't call it a 'win'.

MO16Money-Risk.JPG (80.65 KiB) Viewed 925 times

[prochargedmopar]

Here is an example of an Eights trade.
Risk 10 cents.
Profit 1.2 cents per line
Trade size is about 150 units AJ (115 per 1 cent pip)

A ONE line stop looks pretty big on an m5 chart and 2 lines is HUGE.

Note the 2 red circles, both netted 2 lines by selling the "hanging man".

EightsMM.JPG (152.83 KiB) Viewed 917 times

[LeMercenaire]

I wonder if anyone ever took this challenge that was not already a trading master?? (like es/pip, ect)

Mightyone Wrote:

I offer a special challenge to those who dare accept it.

1. Place a horizontal line on the first price you see when you sit down to trade.

2. Make a note of the current time and do not move the line you have placed for 8 hours.

3. You may only trade away from the line.

4. Your line exists in all time frames.

5. You must have a body close in the direction of profit in at least 1 time frame and may not liquidate for less than 0.3333 pips multiplied by the minutes of the above time frame (15m chart * 0.3333 = 4.9 pip min. profit).

6. No indicators whatsoever! The only thing that should be on the chart is that single horizontal line.

7.It is ok to demo the challenge for 5 trading days by placing the line and then coming back to it after 8 hours and post how you think you would have traded away from it.

8. The challenge is to trade this way live for 5 days.

If you should be so brave as to accept then I would like to hear what you have learned from this exercise

I hadn't seen this challenge before.

I sure hope this doesn't turn RATS into Yale students...LOL!!

You can do this and still be a RAT but you only get to trade in one direction. That makes you wait.

Memories

Life can be really spooky sometimes. I have been thinking of ways to roll something like this out. As a sort of thought experiment (but actually executed on a chart).

Based around the premise of working off a randomly drawn single horizontal line.

My brain was however either too lazy (highly probable) or I needed to be MO (highly likely) to actually follow through on it.

[prochargedmopar]

Trying to trade the H1 chart with H1 lines would be a dicey proposition.
Trying to make 5-8 H1 lines using an m5 chart is also difficult.

So just as has been preached for decades on here I have to use H1 targets OR greater while getting in at the "level" on m5.

Like has been said in past posts. We got 8 lines to get the job done. 4-8 chances at entry.
BUT, according to MO the lot size would be reduced each successive loss.

You know me, I USED TO SAY go BIGGER with each loss which is why I'm still here typing and not off on an Island with the other Pirates.

[prochargedmopar]

I hadn't seen this challenge before.

I sure hope this doesn't turn RATS into Yale students...LOL!!

You can do this and still be a RAT but you only get to trade in one direction. That makes you wait.

Memories

Life can be really spooky sometimes. I have been thinking of ways to roll something like this out. As a sort of thought experiment (but actually executed on a chart).

Based around the premise of working off a randomly drawn single horizontal line.

My brain was however either too lazy (highly probable) or I needed to be MO (highly likely) to actually follow through on it.

Back when this challenge was put out 5 days was an eternity.
Heck, I could have lost millions messing around with such petty foolishness.
Now, I'd do this for 10 days JUST FOR FUN.

Weird how age does that to ya. Oh, and not thinking the next trade will net MILLIONS!!!


5. You must have a body close in the direction of profit in at least 1 time frame.....

Isn't that the ONLY thing I trade anyway? (Body, close above/below something, enter on pullback to ZL)
Simple enough.
Unless it's a hanging man/inverted hammer jump the gun entry. (guessing)

[prochargedmopar]

The only trouble I see with this strategy is the BuyZone indy plots the Horizontal line at 7am. (wink wink)
I ain't gettin' up that early!!!!!!!!!!
LOL

#aj1.JPG (138.15 KiB) Viewed 887 times