ProchargedMopar's Trading Trilogy

[PTG]

"Sam says the news does nothing but hasten the movement in it's predetermined direction to/from supply demand...see the extra pippage?
+196.5 "

Great stuff !!

Since I saw that, I haven't been too worried about the news..

[prochargedmopar]

Thx for the hand clap fella's.

Not all can be winners as we know.
I let this one run while I slept and it looks like the supply line was a little higher than I thought....
-44.3 here: still netted 300 for the day though.



Live trading totally giffy:
5 trades London, took multiple entries and exits on each and one was a stop and reverse for profit:

EUR/JPY 1 B 134.818 134.958 14 1.54 0.00 10/30/2009 02:43 10/30/2009 02:54
EUR/JPY 1 B 134.765 134.936 17.1 1.88 0.00 10/30/2009 02:27 10/30/2009 02:33
EUR/JPY 1 B 134.765 134.853 8.8 0.97 0.00 10/30/2009 02:27 10/30/2009 02:31
EUR/JPY 2 B 134.765 134.854 8.9 1.96 0.00 10/30/2009 02:27 10/30/2009 02:30
EUR/JPY 6 B 134.765 134.843 7.8 5.15 0.00 10/30/2009 02:27 10/30/2009 02:30
EUR/JPY 4 B 134.835 134.843 0.8 0.35 0.00 10/30/2009 02:20 10/30/2009 02:30
EUR/JPY 4 B 134.830 134.793 -3.7 -1.63 0.00 10/30/2009 02:20 10/30/2009 02:26
EUR/JPY 4 B 134.835 134.793 -4.2 -1.85 0.00 10/30/2009 02:20 10/30/2009 02:26
EUR/JPY 6 S 134.784 134.830 -4.6 -3.04 0.00 10/30/2009 02:18 10/30/2009 02:20
EUR/JPY 1 B 134.950 134.784 -16.6 -1.83 0.00 10/30/2009 02:02 10/30/2009 02:18
EUR/JPY 1 S 134.966 134.950 1.6 0.18 0.00 10/30/2009 02:00 10/30/2009 02:02
EUR/JPY 1 S 134.966 134.875 9.1 1.00 0.00 10/30/2009 02:00 10/30/2009 02:01
EUR/JPY 2 B 135.035 134.966 -6.9 -1.52 0.00 10/30/2009 01:56 10/30/2009 02:00
34 32.1 3.16

Demo trading today:
I figured that if you don't have time frame or currency pair on your chart you couldn't tell the difference one to another, basically. There are small differences but they'd be hard to pick out if you didn't have the time frame shown. For me anyway.
So I loaded up a cleaner version of my tpl and 6 currencies to practice.
Scanned charts and clicked a few entries.
Not all were winners so I cut the u/cad trade at -16 and let the others run.....g/u was coming back.




Closed at +150ish here on the 3 trades:
I entered these at my son's football game.
Exited at work.




On the drive home from work I glanced at charts and took 4 more.
I cut the "losers" at -26 total when they started to go the wrong way...(u/j and e/u)



I then let e/j and g/j run.......exit
+85ish



You've got to be kidding me, right..... I exited both at the top and could have Immediately reversed positions.......they were both touching a supply zone almost to the pip.
I was in the u/j short here and then looked back at g/j and e/j.
DOH.
Could have had a quick 50 the other direction..or a lot more.
That is SWEET!!!



I did glance over at a u/j chart and saw this. Do you see why I entered short where I did?? ......my entry is right on a lower "supply" zone.

+13.5ish ain't much but not bad for u/j in such short order.



Off to bed, lost track of how many pips I've even made the last 3 days on demo.....
Well over 500 I know.

TRADING IS SIMPLE, BUT IT AIN'T EASY.
LOL

YET!

EDIT:

Sam Seiden has some very good articles on his website:

www.SamSeiden.com

If you sign up for updates they will be emailed to you, this way you can print them out and study the charts and such.

It's kinda funny now.
In his first article from 03 he talks about "momentum" candles.
Enjoy

Momentum/volatility Folks!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Good work M.O.

[PTG]

LOL you're REALLY letting it rip !!

Before you know it, somebody might start to shout "overtrading!" etc.

Must be a pain in the neck for ya, those loooooong weekends

[adaseb]

Looks like taking it slow is working out for you. Keep up the good work.

[prochargedmopar]

This sounds like a few here:

Posted by MagnumFreak on FF:

No pressure trading

Here is the absolute key to emotionless trading..... are you ready for it??

QUIT TRADING LARGER LOTS AND GOING FOR SMALLER PIPS AND START TRADING SMALLER LOTS AND GOING FOR LARGER PIPS.

Let me explain.... Most traders are taught to risk 1-2% of their account on every trade. WHY?? Because the common mindset says that most likely you will only gain 10-20 pips on a trade before it turns against you.

Most everyone in this thread has done the math and they know that by trading just 2 pairs they should be able to pull in a ton of pips but as soon as they get into a trade fear takes over and they immediately begin to find a reason to exit the trade.

You want to know why I can leave a trade on without fear? Typically I will risk 0.2% per trade. Yep, 1/10th of the normal risk. Why? Because I can easily get at least 10 times the normal pips everyone else expects to get. On a $2,000 account that is only $4.00 risked per trade. Do you think you will have any fear if you know that only 4 bucks out of 2,000 are at risk?

When you take fear out of the equation then there are no limits to what you can do.

Because I don't have that fear of loss, I now average over 300 pips a day trading 4 pairs (today was much much higher than that). Now normally I will have around a 20 pip stop on a trade. Doing the math on a 2,000 account that means I have 2 micro lots to work with. That would mean on a 300 pip day I would see about a 60 dollar increase in the account. That is about a 3% increase. Not bad for only risking 0.2%.

Can you really make 300 pips a day average?? Yes if there is no fear in your trading. Let's say you are still a bit scared even at the lower risk levels and you only get 150 pips a day, your 2,000 account has grown to 72,000 by this time next year. I won't even tell you what 300 pips a day will do to a 2,000 account in 1 year.

You cannot expect to get consistent results when you trade with fear. It is impossible.

Hope this all makes sense.

Very Important SS pics,
Thanks foreman01 for making the zip file available!!!

[PTG]

I smell mega-pips coming up here in this thread on a live account real soon !!

[mthomas]

Pro,
Great job!!!!
You need to stop wasting your breath on the non believers that want to beat you down and put you in the corner and fill your head with useless info that will side track you. You have your grail. we'll only a part of it cause I stole the other half......This is your ticket keep with it no matter what any one says negitive.....PTG glad your on the bandwagon!!!

Keep the charts a coming maybe the non believers will finally c it?
or just enjoy your pips with us that truly care!!!
Alotofpips

[PTG]

Hey Alotofpips, nice to see you posting here !

It's always best to omit nay-sayers and stick to your goal, no matter what. That's called commitment. Lack thereof is why many people fail, including in the trading profession !

[PTG]

Here's a website where one can calculate position sizing:

www.funcalcs.com/mm3.html

[mthomas]

People are scared of what they don't understand!!!!
Who was that guy that said the earth wasn't round?

Keep your currtent path Pro...I'll keep trying to stay 2 steps in front of you lol

Boo!!!!!!
Alotofpips