ProchargedMopar's Trading Trilogy

[prochargedmopar]

Mightyone wrote Feb. 2 09:

It is important that you look at the positions as fractions of a whole trade and not individual trades so that you can make bold decisions and position your pieces for an ambush/single exit.

I know that some of you are going fire back with,"each trade should be placed according to its own merits; there is no such thing as adding to a position."

To that I can only respond with -->

You are not adding to a position you are creating one

[razorboy]

This stuff is the real never lose again...........or how to generate 30 to 40% annual returns........all there in black and white

Long term trading is where the real money is made.........

[prochargedmopar]

Got kinda messy.

[prochargedmopar]

With all the gloom and doom in the news about the euro. this chart here tells me to go long....so I am.

After all those lines above I took 1 pip short on a horizontal trend line bounce.

Now this....LOL

[prochargedmopar]

hmmmm

[prochargedmopar]

I'm thinking the h4 chart was right.........
You?

Sure look pretty on a 1 MIN.

[prochargedmopar]

Chris Lori (Olympic gold champ / CTA), Justus(10), and I in Charlotte.

[prochargedmopar]

Last weekend I went to a 3 day highly intensive trading workshop.
From a technical aspect I learned very, very little. (almost nil)

Then again I've watched 100's and 100's of hrs of PTClub archives and all chris's video courses so I had a little leg up. Not to mention all of what M.O. has taught here.........

WHAT I DID LEARN.

Chris lori is HUMAN.
Steve W. from www.nobrainertrades.com...... Is HUMAN
Greg Crisp (cta) is HUMAN.

Going out with these guys and having small talk over dinner I saw the insecurities in each.

es/pip said it most clearly.

IT'S PRO VS. PRO.

And this should be my guiding light.

Mightyone wrote:

I think that ever person has gone through that stage in their trading where nothing is working.
I have gone through total despair in the thought that maybe before I was just lucky and maybe I don't have what it takes to trade after all.

When nothing is going right that just means that you are doing things wrong.
Now that you figured out how not to trade how can you do things differently?

What is all this talk of fear?

Place a trade and if it doesn't work then you attempt to exit for zero loss.
If that doesn't work then you attempt to exit for a smaller loss and if that doesn't work you exit if you have not already been stopped out.

In fact, if you spent all of your time creatively thinking of how you can exit for zero loss and let profit be some thing that "just happens" then you would have nothing to fear at all.

The very first thing I take into account is range; I like it when candles have to move 5 or 10 pips to reach my orders.
I am thinking along the lines of if this candle closes so that my order is sitting at a loss is that order likely to be reachable by the next candle so I can get out at BE.
My second thought when sitting with a loss before there is a close is if there is a 0 or 5 near by a little further in the direction of loss so that I can move the BE point closer for the next candle (I am speaking of 1/2 or 1/3 position strategy not multiple full orders).
My third thought is exiting at the best price available to me.

[es/pip]

Last weekend I went to a 3 day highly intensive trading workshop.
From a technical aspect I learned very, very little. (almost nil)

Then again I've watched 100's and 100's of hrs of PTClub archives and all chris's video courses so I had a little leg up. Not to mention all of what M.O. has taught here.........

WHAT I DID LEARN.

Chris lori is HUMAN.
Steve W. from www.nobrainertrades.com...... Is HUMAN
Greg Crisp (cta) is HUMAN.

Going out with these guys and having small talk over dinner I saw the insecurities in each.

es/pip said it most clearly.

IT'S PRO VS. PRO.

And this should be my guiding light.

Mightyone wrote:

I think that ever person has gone through that stage in their trading where nothing is working.
I have gone through total despair in the thought that maybe before I was just lucky and maybe I don't have what it takes to trade after all.

When nothing is going right that just means that you are doing things wrong.
Now that you figured out how not to trade how can you do things differently?

What is all this talk of fear?

Place a trade and if it doesn't work then you attempt to exit for zero loss.
If that doesn't work then you attempt to exit for a smaller loss and if that doesn't work you exit if you have not already been stopped out.

In fact, if you spent all of your time creatively thinking of how you can exit for zero loss and let profit be some thing that "just happens" then you would have nothing to fear at all.

The very first thing I take into account is range; I like it when candles have to move 5 or 10 pips to reach my orders.
I am thinking along the lines of if this candle closes so that my order is sitting at a loss is that order likely to be reachable by the next candle so I can get out at BE.
My second thought when sitting with a loss before there is a close is if there is a 0 or 5 near by a little further in the direction of loss so that I can move the BE point closer for the next candle (I am speaking of 1/2 or 1/3 position strategy not multiple full orders).
My third thought is exiting at the best price available to me.

i am not going to comment on going to seminars and paying people to teach trading stuff.


as for your trade

that was a great setup

nice one

notice where it came into at the top as well

you just need to fix the PRO part, everything else will fall into place

l

[MightyOne]

Got kinda messy.

I have no idea what the reason for a lot of those angles on your chart are.

If it is "right" then the chart will look clean and pretty

With equilibrium (not that you were drawing them) price will look as though it were moving around circles.