Aliassmith Beats a "Dead Horse"

[IgazI]

I'm taking a slightly different approach to zones:

by adjusting the %R that is projected on either side of the close we can home in on these zones with a smaller set of rules.

simple.jpg (146.59 KiB) Viewed 1351 times

(Bumping the post)

Rules to trade by:
Practice and reflect (stick with 1 method and "pair" at first)
Use a SL size that gives you a chance of being successful. (big enough)
Use a SL size that doesn't let you hang yourself. (too big)
Take trades that appear to have enough room to run more than 1.5R or better. (anything under 1R can be difficult)
Plan your entries and let price come to you. (it makes being profitable easier)
Use your leverage/margin reasonably. (risking more doesn't make you better or makeup for bad decisions)
Follow the market don't demand it to do what you expect.
Don't marry a trade...see SL sizing above.
When you are doing things well you will still be wrong and that is counter intuitive to the business world/education. (train the mind to accept it.)

[aliassmith]

I'm taking a slightly different approach to zones:

by adjusting the %R that is projected on either side of the close we can home in on these zones with a smaller set of rules.

simple.jpg

(Bumping the post)

Rules to trade by:
Practice and reflect (stick with 1 method and "pair" at first)
Use a SL size that gives you a chance of being successful. (big enough)
Use a SL size that doesn't let you hang yourself. (too big)
Take trades that appear to have enough room to run more than 1.5R or better. (anything under 1R can be difficult)
Plan your entries and let price come to you. (it makes being profitable easier)
Use your leverage/margin reasonably. (risking more doesn't make you better or makeup for bad decisions)
Follow the market don't demand it to do what you expect.
Don't marry a trade...see SL sizing above.
When you are doing things well you will still be wrong and that is counter intuitive to the business world/education. (train the mind to accept it.)

A lot of trading problems are mental.
If the rules being smaller build confidence and eliminate other pesky psychological issues, then great

[IgazI]

A lot of trading problems are mental.
If the rules being smaller build confidence and eliminate other pesky psychological issues, then great

If simple is 95% of the solution then I am willing to exchange the 5% for time and certainty, it's that simple.

[aliassmith]

Some TSLA markup form earlier today.
1000 shares traded made a lot of money on that chart.

[IgazI]

Some TSLA markup form earlier today.
1000 shares traded made a lot of money on that chart.

I think that he should have just paid the $1 billion fine and walked away. . .

[nonibadsha]

Thanks Alias and Igazi.. You guys have shared a fair bit in the last few posts. I have read them and will go over them again. I'm working long shifts all weekend. Come Monday, London open I will be back at the charts. I'll mark up a chart and share.

So far the way I have been trading (demo) I have been successful, By the time I finished today I'm up 63% for the month. But it hasn't been easy at the slightest. I trade the H1 chart, and sit in front of the screen for hours. I find that I take many losing trades before a home run is hit to cover the losses and give me a few % on top.

Thanks again guys.. Really appreciate it.

[aliassmith]

Thanks Alias and Igazi.. You guys have shared a fair bit in the last few posts. I have read them and will go over them again. I'm working long shifts all weekend. Come Monday, London open I will be back at the charts. I'll mark up a chart and share.

So far the way I have been trading (demo) I have been successful, By the time I finished today I'm up 63% for the month. But it hasn't been easy at the slightest. I trade the H1 chart, and sit in front of the screen for hours. I find that I take many losing trades before a home run is hit to cover the losses and give me a few % on top.

Thanks again guys.. Really appreciate it.

If you are doing 63% in a month then you are doing fine. Just depends on if your drawdown is acceptable to you.

[aliassmith]

Some TSLA markup form earlier today.
1000 shares traded made a lot of money on that chart.

I think that he should have just paid the $1 billion fine and walked away. . .

He took on an almost impossible task. The left wing will come after him with a vengeance. If they don't agree with what he is doing there will be a coordinated effort to take him off line.

The right wing will be upset when everyone doesn't get unbanned and there are still rules.

$40 billion on a gamble.

[Goonslinger]

Rules to trade by:
Practice and reflect (stick with 1 method and "pair" at first)
Use a SL size that gives you a chance of being successful. (big enough)
Use a SL size that doesn't let you hang yourself. (too big)
Take trades that appear to have enough room to run more than 1.5R or better. (anything under 1R can be difficult)
Plan your entries and let price come to you. (it makes being profitable easier)
Use your leverage/margin reasonably. (risking more doesn't make you better or makeup for bad decisions)
Follow the market don't demand it to do what you expect.
Don't marry a trade...see SL sizing above.
When you are doing things well you will still be wrong and that is counter intuitive to the business world/education. (train the mind to accept it.)

RE: plan your entries - does this mean entering with limit orders or looking at PA at a price you're interested in entering at?

[IgazI]

I've noticed that if the previous candle is black or white and the next candle closes in the upper wick-zone then you can pretty much treat it as if it were a blue candle.

Thoughts?

thoughts_.jpg (158.03 KiB) Viewed 1099 times