ProchargedMopar's Trading Trilogy

[dudehead]

MO! You're the best! I swear, every time I read a new post from you it's like opening a gift at Christmas! You're the trader I want to be when I grow up!

Pro, it's really cool that you've picked up Mo's challenge and run with it. The way I see it, if you KNOW you can make a steady amount of pips day in, day out (be it 20 pips or 200), then all the rest is just compounding, like MO and Dragon has shown us. It sounds like you have a regular trading rhythm you have moved into. That's what counts.

I'm a few steps behind, because I'm fairly new to FX, and need to put in more screen time and practice to get my "driving" from the "teen who just got his license" to NASCAR rookie, but just like you, I've decided to never give up and keep moving forward. Thanks for putting yourself "out there" with your trading log.

[prochargedmopar]

My #2 focus NOW is figuring out a way to let profitable trades run.
I'm getting sick and tired of seeing 20-30-100+ pip moves in the market after I exit.
I need to go back and read all the options M.O. gave me for scaling/holding/ect. -PRO

That I will help you with

The focus is highest highs after lowest lows + momo and vise versa:

Don't look at the time frame. Huge for my eyes........
I'm mulling over the placement of X's.

[MightyOne]

My #2 focus NOW is figuring out a way to let profitable trades run.
I'm getting sick and tired of seeing 20-30-100+ pip moves in the market after I exit.
I need to go back and read all the options M.O. gave me for scaling/holding/ect. -PRO

That I will help you with

The focus is highest highs after lowest lows + momo and vise versa:

Don't look at the time frame. Huge for my eyes........
I'm mulling over the placement of X's.

I'd prolly do something like this exiting at single and or double "X":

[aliassmith]

Pro, I'm feeling guilty for busting your chops. I gotta admit I was talking about myself as well.

Saw you pop into the 2% club, sounds like things are coming together for you?
So you're on a 30 day trading plan? Would you care to share what your plan is?

I've implemented a post-trading day logging system for myself, it goes like this:

1. Capture my stats: wins/losses, pairs traded, entry/exit prices etc.
2. Did I follow my trading plan? If not where did I deviate and why did I decide to "leave the reservation".
3. What are the lessons learned that I can take away from this session?
4. What did I do well? (like cutting a loss short)
5. What can I do to improve for next time?

Having a system helps keep myself honest. That way I can't try something and just say "It didn't work." Been there, done that, bought the T-Shirt.

BTW, I am rooting for you, keep up the good fight!

Guilt is a neg. emotion that destroys, YOU have NOT offended me.
I feel you were right on the money.
It looks as though your "plan" is much more detailed than mine.

All I do is look at market, see what appears to be a move in a certain direction and enter.

I have studied work from Sam seiden/Andre Pahar(FXknight)/Chris Lori(pro traders club)/Mightyone/TRO/Dragon33/Craig Harris method/VSA, VCA, and the list goes on and on and on from web board "systems".
Many posts by hundreds of people.
All FREE resources.


I'm focused on THIS though:

For the impatient the first 2-3 levels will be the hard part, after that the ball starts to ROLL.

Starting balance based on increments of 3.
$30.00, $300.00, ect

First Go round is starting with 10 cent pips to prove to yourself and to build confidence that you can succeed in your quest to freedom. A Dry Run.

New balance/Lot size/Daily profit/ # of days trading

$30 - 10cents - $2 - 15 days
$62 - 20 -$4 - 8
$92 - 30 - $6 - 5
$124 - 40 - $8 - 4
$154 - 50 - $10 - 3
$184 - 60 - $12 - 2
$208 - 70 - $14 - 2
$236 - 80 - $16 - 2
$268 - 90 - $18 - 2
$304 - $1 - $20 -2
$344 - $1.10 - $22 - 1
$366 -$1.20 - $24 - 1
$390 - $1.30 - $26 -1
$416 - $1.40- $28 - 1
$444 - $1.50 - $30 - 1 Time to go to FREEDOM Level
$474 Bal.

Start with $474 and use $2 pips!!!
Do it all over again but move Decimal one place to right..

$474 - $2 - $40 4 days
$634 - $3 - $60 5
$934 - $4 - $80 5
$1334 - $5 - $100 4
$1734 - $6 - $120 4
$2214 - $7 - $140 3
$2634 - $8 - $160 2
$2954 - $9 - $180 1
$3134 - $10 -$200 2
$3534 - $11 - $220 2
$3974 - $12 - $240 1
$4214 - $13 - $260 1
$4474 - $14 - $280 1
$4754 - $15 - $300 PER DAY INCOME!!!

You add up the days....if you don't like waiting you can start with 30cent pips the first round...

20 pips a day baby.......I won't go into the next level........

START WITH $20 PIPS...... and finish with $3000 a day income...HEHEHEHE


And these are the results so far:

Actual starting Bal. 598.50

Default start Bal. 47.00 - Target 460.10

Day#/Date/pips/P-L/Balance/lot size

1-4 +52 $8.00 Bal. 55.00 (2)
2-5 +32 $6.70 $60.96 (3)
3-6 +50 $9.00 $69.96 (3)
4-7 +32 $6.38 $76.34 (3)
5-8 +18 $5.49 $81.83 (3)
6-11 +41 $7.30 $89.13 (3)
7-12 +22 $9.19 $98.32 (4)
8-13 +18 $7.04 $105.36 (4)
9-14 +19 $7.20 $112.56 (4+)
10-15 +22 $8.80 $121.36 (4)
11-18 +22 $10.88 $132.24 (5)
12-19 +21 $10.60 $142.84 (5)
13-20 +16 $8.12 $150.96 (5)
14-21 +22 $13.72 $164.68 (6)
15-22 +19 $11.42 $176.10 (6)
16-25 +22 $14.42 $190.52 (6&7)
17-26 +45 $30.43 $220.95 (7+)
18-27 +6 $4.06 $225.01 (7+)
19-28 +14 $9.02 $234.03 (7)
20-29 +22 $17.10 $251.13 [8]
21-1 +16 $13.17 $264.30 [8]
22-2 +15 $13.59 $277.89 (9)
23-3 -24 $21.22 -$256.67 (9)
24-4 +18 $16.25 $272.92 (9)
25-5 +26 $23.21 $296.13 (9)

Very Interesting plan. Seems similar to something MightyOne put out
there. I like seeing the actual dollar amounts on your "plan". Now if
I can only make 20 pips a day (part-time) I would try your plan out.

I thought you were banking with all the m5 Mzone winners you were posting???
What happen?

Yes,
It's loosely based on his 40 pips a day plan that moves you 17 levels in 1yr.
I doubled the micros per $300 account balance and reduced the required daily pips by 1/2.
I don't really understand the 2nd half of the document so
I'm using a 9 pip stop and rolling with it.

My #1 focus is NO big losing days.
My #2 focus NOW is figuring out a way to let profitable trades run.
I'm getting sick and tired of seeing 20-30-100+ pip moves in the market after I exit.
I need to go back and read all the options M.O. gave me for scaling/holding/ect.

"I thought you were banking with all the m5 Mzone winners you were posting???
What happen?"

Can't win'em all! Seriously there are still some bad stings of trades that happen. I don't really look at M5 as much anymore, mostly M15 and H1.

Also,I have been researching using no timeframe more ie. range and correction. All discresionary and takes practice.

...then there is all the damn reading:

Market Wizards
New Market Wizards
Stock Market Wizards
Fooled by Randomness
The Black Swan
Remenissance of a Stock Operator
Art of War
Trading for Infinite Yield

Reading most of those was mainly for psycology, seeing what other
traders went through helped me put things in perspective.

[prochargedmopar]

G/U didn't play the game like I thought it would, wasted time and energy on it when e/j was the one cookin.

Anyway, Gap trade practice.
3 entries with 4 pip spread bandit.
+27 pips



E/J played by the rules though.....
See the MOMO?, See the sell???
See the retest of break, within 1 pips....See the Sell??

Now, try that with BIG pips.....LOL

[prochargedmopar]

I made today much harder than it should have been.
Gotta "wait for a trade".
They are everywhere....no need to jump the gun.

[prochargedmopar]

NOT a good day.

To much risk for the reward.

Both live and practice ended +% but that type of trading is NOT gonna cut it.

I'm still working on the X's M.O.

[prochargedmopar]

What's with all that?????

only one stop hit but dang, always going against current market move is getting to me.
The couple trades I did get into properly I bailed waaaaaay to early.

[MightyOne]

[prochargedmopar]

See how easy it is to let trades run on demo??
Buy at demand level and wait for profit while you sleep.

+50.
Hmmmm