The ideas that I trade by:

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Braathen
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Re: The ideas that I trade by:

Postby Braathen » Tue Jun 14, 2016 9:34 am

On my U/CAD the median says 0.0325.. so on GJ it says 5.97 witch is a range of 597.
Im guessing UCAD is 325 range and the diffrence is the decimal in the pairs?
Like UCAD is 1.2854 and GJ is 149.47
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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salezyakuku
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Re: The ideas that I trade by:

Postby salezyakuku » Tue Jun 14, 2016 10:01 am

Braathen wrote:On my U/CAD the median says 0.0325.. so on GJ it says 5.97 witch is a range of 597.
Im guessing UCAD is 325 range and the diffrence is the decimal in the pairs?
Like UCAD is 1.2854 and GJ is 149.47


Line about 315:

Code: Select all

 "Median = " , median , "\n" ,

change to:

Code: Select all

"Median = " , median*small , "\n" ,
"I only see my goals, I don't believe in failure 'Cause I know the smallest voices, they can make it major"

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Braathen
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Re: The ideas that I trade by:

Postby Braathen » Tue Jun 14, 2016 10:07 am

salezyakuku wrote:
Braathen wrote:On my U/CAD the median says 0.0325.. so on GJ it says 5.97 witch is a range of 597.
Im guessing UCAD is 325 range and the diffrence is the decimal in the pairs?
Like UCAD is 1.2854 and GJ is 149.47


Line about 315:

Code: Select all

 "Median = " , median , "\n" ,

change to:

Code: Select all

"Median = " , median*small , "\n" ,


THANK YOU! :D awsome thanks so much again for the quick responce :shock:
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Tue Jun 14, 2016 1:29 pm

Braathen wrote:Thanks MO! My cone game is getting stronger! 8)

I thought i would share my 29pip box chart that i have marked up (last weeks open is the origin).
P&F really helps me stay longer in trades and trail my position with greater confidence and agression.
It just really fits my brain i guess.

Now.. i really enjoy spending alot of time infront of my charts and ive been doing a H/L+close 16pip box plotting on a 15m.. hehe.
I know MO will say it's too sensitive and you might as well just be looking at the 15m but i dont know what it is about P&F,
it just soothes my brain and you gotta admit... it can be a thing of beauty even at 15m plotting.

Going down to a smaller TF to see the obvious :D


Leafing through the charts in Ted Warren's book, HOW TO MAKE THE STOCK MARKET MAKE MONEY FOR YOU, I noticed that all of the charts are simply high/low bars inside of a grid.
While I was listening to a man on YT, about the differences between the different styles of charting, he made an interesting comment; he said that the difference between a candle chart and a bar chart is that of emphasis, a candle focuses your attn. to the change within a bar where as the bar has you focus on the change between bars.

He is probably right, I don't really give a dmn about small chart closes as I am more focused on the price overlap and pattern breakouts.

Did that 15 minute candle close under a line? I don't really care...I might care if I already want to go short, based on a larger chart, and I defined my trigger as the next close under something, but in and of itself it doesn't mean a whole lot.

The closes matter more on a larger chart where it represents a full swing & gives you a better summary of the small chart price action.

I have decided to make the switch to HL bar charts for small periods and HLC bar charts for multi-hour periods.
I still look at P&F charts but I find myself interpreting them the same way I do every chart (overlap vs breakout) instead of just trading breakouts.

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Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Tue Jun 14, 2016 2:09 pm

Alarm woke me overnight and got into EA short @ 1.5285. Want to add now, but where... Red line may be current cone forming, but would like a deeper retrace up to add more. Thoughts?
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Re: The ideas that I trade by:

Postby MightyOne » Tue Jun 14, 2016 2:34 pm

I am just going to take a second to talk about why I don't target sextillions.

1) A stop loss DOES NOT GUARANTEE that you will be able to liquidate at that price, therefore your true risk is anywhere from the 6 pips that you are hoping is your max loss to 40, 70, 140, or even hundreds of pips if price decides to gap on you.
"That is so unlikely...". It really isn't, price makes gap moves all the time that are probably larger than your stop loss.

2) 3.73% per day is FOUR ZEROS per year! Do you make 4 zeros per year? Didn't think so.
Why then do people risk 3 or 5% per trade? They might make 30, 70, 140% or more in a day but they still can not do better than someone who is consistently making a few percent per day (because the effort to make larger %'s consumes more time, both in terms of holding and giving profits back).

3) More risk is just more risk, more profit is just more profit.
Risking more does not make you more money, period, end of story.
You might make more on a given day but overall your gains will be slower.

It is better to spread your trades between three pairs, entering your lots in two or three parts and then increasing the size by a third as price continues to move in your favor, than it is to try and make all of your money in one pair.

I am guilty of being foolish, I didn't understand the value of diversification until recently :shock: :)

4) to goals not through goals.
Complete your first goal and then move to the next. Trying to blast through goals is a very good way to delay it from being reached in the first place.

I hope you listen, I don't want you to learn it the hard way like I did.

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Re: The ideas that I trade by:

Postby aliassmith » Tue Jun 14, 2016 3:17 pm

MightyOne wrote:I am just going to take a second to talk about why I don't target sextillions.

1) A stop loss DOES NOT GUARANTEE that you will be able to liquidate at that price, therefore your true risk is anywhere from the 6 pips that you are hoping is your max loss to 40, 70, 140, or even hundreds of pips if price decides to gap on you.
"That is so unlikely...". It really isn't, price makes gap moves all the time that are probably larger than your stop loss.

2) 3.73% per day is FOUR ZEROS per year! Do you make 4 zeros per year? Didn't think so.
Why then do people risk 3 or 5% per trade? They might make 30, 70, 140% or more in a day but they still can not do better than someone who is consistently making a few percent per day (because the effort to make larger %'s consumes more time, both in terms of holding and giving profits back).

3) More risk is just more risk, more profit is just more profit.
Risking more does not make you more money, period, end of story.
You might make more on a given day but overall your gains will be slower.

It is better to spread your trades between three pairs, entering your lots in two or three parts and then increasing the size by a third as price continues to move in your favor, than it is to try and make all of your money in one pair.

I am guilty of being foolish, I didn't understand the value of diversification until recently :shock: :)

4) to goals not through goals.
Complete your first goal and then move to the next. Trying to blast through goals is a very good way to delay it from being reached in the first place.

I hope you listen, I don't want you to learn it the hard way like I did.


I hit the "like" button on that post. =D>
Trade Your Way as Long as It Makes Money!

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Re: The ideas that I trade by:

Postby forexbob » Tue Jun 14, 2016 3:48 pm

MightyOne wrote:I am just going to take a second to talk about why I don't target sextillions.

1) A stop loss DOES NOT GUARANTEE that you will be able to liquidate at that price, therefore your true risk is anywhere from the 6 pips that you are hoping is your max loss to 40, 70, 140, or even hundreds of pips if price decides to gap on you.
"That is so unlikely...". It really isn't, price makes gap moves all the time that are probably larger than your stop loss.

2) 3.73% per day is FOUR ZEROS per year! Do you make 4 zeros per year? Didn't think so.
Why then do people risk 3 or 5% per trade? They might make 30, 70, 140% or more in a day but they still can not do better than someone who is consistently making a few percent per day (because the effort to make larger %'s consumes more time, both in terms of holding and giving profits back).

3) More risk is just more risk, more profit is just more profit.
Risking more does not make you more money, period, end of story.
You might make more on a given day but overall your gains will be slower.

It is better to spread your trades between three pairs, entering your lots in two or three parts and then increasing the size by a third as price continues to move in your favor, than it is to try and make all of your money in one pair.

I am guilty of being foolish, I didn't understand the value of diversification until recently :shock: :)

4) to goals not through goals.
Complete your first goal and then move to the next. Trying to blast through goals is a very good way to delay it from being reached in the first place.

I hope you listen, I don't want you to learn it the hard way like I did.


Thanks MO,

@1 such as with the news on 3th of june with EURUSD
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prochargedmopar
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Re: The ideas that I trade by:

Postby prochargedmopar » Tue Jun 14, 2016 4:47 pm

aliassmith wrote:
MightyOne wrote:I am just going to take a second to talk about why I don't target sextillions.

1) A stop loss DOES NOT GUARANTEE that you will be able to liquidate at that price, therefore your true risk is anywhere from the 6 pips that you are hoping is your max loss to 40, 70, 140, or even hundreds of pips if price decides to gap on you.
"That is so unlikely...". It really isn't, price makes gap moves all the time that are probably larger than your stop loss.

2) 3.73% per day is FOUR ZEROS per year! Do you make 4 zeros per year? Didn't think so.
Why then do people risk 3 or 5% per trade? They might make 30, 70, 140% or more in a day but they still can not do better than someone who is consistently making a few percent per day (because the effort to make larger %'s consumes more time, both in terms of holding and giving profits back).

3) More risk is just more risk, more profit is just more profit.
Risking more does not make you more money, period, end of story.
You might make more on a given day but overall your gains will be slower.

It is better to spread your trades between three pairs, entering your lots in two or three parts and then increasing the size by a third as price continues to move in your favor, than it is to try and make all of your money in one pair.

I am guilty of being foolish, I didn't understand the value of diversification until recently :shock: :)

4) to goals not through goals.
Complete your first goal and then move to the next. Trying to blast through goals is a very good way to delay it from being reached in the first place.

I hope you listen, I don't want you to learn it the hard way like I did.


I hit the "like" button on that post. =D>


What does the "rate this post" button do,
for me it does nothing just brings up a box saying something about no reputation points???
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

v8power
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Re: The ideas that I trade by:

Postby v8power » Tue Jun 14, 2016 4:51 pm

MightyOne wrote:I am just going to take a second to talk about why I don't target sextillions.

1) A stop loss DOES NOT GUARANTEE that you will be able to liquidate at that price, therefore your true risk is anywhere from the 6 pips that you are hoping is your max loss to 40, 70, 140, or even hundreds of pips if price decides to gap on you.
"That is so unlikely...". It really isn't, price makes gap moves all the time that are probably larger than your stop loss.

2) 3.73% per day is FOUR ZEROS per year! Do you make 4 zeros per year? Didn't think so.
Why then do people risk 3 or 5% per trade? They might make 30, 70, 140% or more in a day but they still can not do better than someone who is consistently making a few percent per day (because the effort to make larger %'s consumes more time, both in terms of holding and giving profits back).

3) More risk is just more risk, more profit is just more profit.
Risking more does not make you more money, period, end of story.
You might make more on a given day but overall your gains will be slower.

It is better to spread your trades between three pairs, entering your lots in two or three parts and then increasing the size by a third as price continues to move in your favor, than it is to try and make all of your money in one pair.

I am guilty of being foolish, I didn't understand the value of diversification until recently :shock: :)

4) to goals not through goals.
Complete your first goal and then move to the next. Trying to blast through goals is a very good way to delay it from being reached in the first place.

I hope you listen, I don't want you to learn it the hard way like I did.


This post would have been amazing years ago for me :mrgreen: , But it does reaffirm what I have decide today and the direction my trading will go from here. I have no idea how you have posted here for 8 years and the amount of time you have given and patience to deal with idiots like me. But you have my utmost respect.

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