Never Lose Again

[monolisa]

I understand your feeling, Patch.

Losing is part of trading, the important thing is that you need to learn from it and keep your losses tight (and let your profits run!!).

Lis

[prochargedmopar]

Here is the Diamond of Perception formula used on the EJ minute last night.

While the momentum was bullish on the H1, price did make a larger correction than the previous corrections which returned to reach new highs and I expected a dynamic trend reversal.

It is very dangerous to trade against H1 momentum so I dropped down to the minute charts and used M1 202 on the charts for a 55 pip gain.

The VAST MAJORITY of the time I am trading with H1 momentum as it is suicide not to with few exceptions.

See if you can find any secrets revealed in this chart:



Keep growing and learning -MO

It's not what you trade it's how you trade it......Isn't that what TRO says?

Well, I was short e/j from the 137.60 line, stopped myself out at -4.2 as it looked like price was gonna make another push.
Then went short again about the 52 when price made a larger correction that was not able to return to the extreme.....had a couple entries there as I got frustrated......Then subsquently started going long in anger "knowing" that price would retrace at some point. Hmmmmm
You can see from the m1 chart that there was not much of a re-trace.
News/operators helped to margin acount with my assistance.
-211 pips.....just enough to zero me.
Account drained.......LOL

[MightyOne]

Oops! I read the explanation on the "diamond" chart. Thanks

Lis

The second black box should read:

Each box is then 50 bars left/right from vertical

[monolisa]

MO,

So are you saying there's a positive relationship between the trend angle (or angle of attack ) and price range of such trend?

20 degree = 11 pips
5 degree = 2.8 pips
50 degree = 28 pips
etc

Is the diamond restricted to 50 bars? Also is there any particular reason to use M1?

Thanks.

Lis

Ok, it took me almost 2 hours to create this picture

I usually do not draw full Diamonds of perception because they take so fergin long to draw and moving them is even worse!

Feel free to code it

If you can have it delete the background boxes after the diamond is drawn then that would be spectacular.

The lime green angles in the picture are sharps and the dark green angles are flats.

DIAMOND OF PERCEPTION 202
Learning the angles of perception

[MightyOne]

Here is the Diamond of Perception formula used on the EJ minute last night.

While the momentum was bullish on the H1, price did make a larger correction than the previous corrections which returned to reach new highs and I expected a dynamic trend reversal.

It is very dangerous to trade against H1 momentum so I dropped down to the minute charts and used M1 202 on the charts for a 55 pip gain.

The VAST MAJORITY of the time I am trading with H1 momentum as it is suicide not to with few exceptions.

See if you can find any secrets revealed in this chart:



Keep growing and learning -MO

It's not what you trade it's how you trade it......Isn't that what TRO says?

Well, I was short e/j from the 137.60 line, stopped myself out at -4.2 as it looked like price was gonna make another push.
Then went short again about the 52 when price made a larger correction that was not able to return to the extreme.....had a couple entries there as I got frustrated......Then subsquently started going long in anger "knowing" that price would retrace at some point. Hmmmmm
You can see from the m1 chart that there was not much of a re-trace.
News/operators helped to margin acount with my assistance.
-211 pips.....just enough to zero me.
Account drained.......LOL

If you are basing your decisions on what the active candle is doing then you are allowing your self to be fooled by the illusion.

Bodies show the way PRO and bodies are never active.

The best you can hope to see on an active candle is a better price to enter.

And for God sakes man use a daily loss limit!

[MightyOne]

MO,

So are you saying there's a positive relationship between the trend angle (or angle of attack ) and price range of such trend?

20 degree = 11 pips
5 degree = 2.8 pips
50 degree = 28 pips
etc

Is the diamond restricted to 50 bars? Also is there any particular reason to use M1?

Thanks.

Lis

Ok, it took me almost 2 hours to create this picture

I usually do not draw full Diamonds of perception because they take so fergin long to draw and moving them is even worse!

Feel free to code it

If you can have it delete the background boxes after the diamond is drawn then that would be spectacular.

The lime green angles in the picture are sharps and the dark green angles are flats.

DIAMOND OF PERCEPTION 202
Learning the angles of perception

The number of bars used creates the size of the diamond.

It can be 50, 100, 230, 473, it does not matter.

Whichever time frame you see the angles on is the time frame in which you draw the diamond.

I hope that this example clears things up:

[Who Am I ?]

Hi Lis,

Can you please post this template on your chart?

-- WAI?

Nice trade, es/pip. Have a good nite.



Lis

[MightyOne]

Ok, it took me almost 2 hours to create this picture

I usually do not draw full Diamonds of perception because they take so fergin long to draw and moving them is even worse!

Feel free to code it

If you can have it delete the background boxes after the diamond is drawn then that would be spectacular.

The lime green angles in the picture are sharps and the dark green angles are flats.

DIAMOND OF PERCEPTION 202
Learning the angles of perception

looking at that my eyes went

too tired to even attempt to look at it

i did see 1 thing in it already

at least i know what i am doing this weekend now

Is this better

[monolisa]

Thanks, MO.

I wonder how the method could be put into practical use.

I can see how the pip value of angles is calcuated. However, how do we know the future angle value when the trend changes? The angle is usually confirmed later when the trend materialise and at that moment a number of bars has been passed.

I also notice you draw the upper left corner of the box at the 1st retracement of the trend. Is it correct?

Thanks.

Lis

[MightyOne]

Thanks, MO.

I wonder how the method could be put into practical use.

I can see how the pip value of angles is calcuated. However, how do we know the future angle value when the trend changes? The angle is usually confirmed later when the trend materialise and at that moment a number of bars has been passed.

I also notice you draw the upper left corner of the box at the 1st retracement of the trend. Is it correct?

Thanks.

Lis

The only thing that matters is that the angle connects the points of the box....
it really does not matter where you start drawing the box as you only wish to define the degrees so that the angles can be used on any scale.

The exact angles do not matter the proportions do.

There is a margin of error of 5* when drawing Major angles; these "errors" are known as sharp and flat angles.

35 & 25 degrees is considered to be a 30 degree angle.

You do not have to wait for a "trend" before the angles of ascent and decline are known.
The charts follow very predictable patterns which, when recognized, cause your risk to combust