2009.06.24 WHY 95% OF TRADERS LOSE PART III

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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 29, 2009 10:21 pm

"Therefore, price action would be the movement of price over a period of time and its velocity. In other words, how far did it move and how fast was it moving. "

I left out something... how many ticks(trades) over the period of time.

Price could have a 10 pip range in a hour. It could be 1, 10, 100, or 1000 ticks. That may be handy to know.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby Brookmyre » Fri Oct 02, 2009 10:24 am

Hey TRO, I'm new here so I apologise if this is a dumb question but.... I've seen MO say many times 'the current candle is an illusion'. You seem to be saying (and have been saying since I started reading NLA about 6 wks ago) the current candle is the only truth.... I can't get my head around both of these statements at the same time....you both seem to be saying opposite things. Please correct me if I've misunderstood u, I'm here to learn! Thanks also for all the effort you go to!

ps maybe you should add a second t-shirt to the production line...'Can you SEE it!'

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TheRumpledOne
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Postby TheRumpledOne » Fri Oct 02, 2009 9:55 pm

I don't recall saying the current candle is the only truth but it doesn't matter.

All that matters is you correctly identify what PRICE is doing at the time you enter the trade and exploit it.

DON'T LET THE RAT BEAT YOU!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby Brookmyre » Sun Oct 04, 2009 7:32 am

My apologies, I was 'interpreting' your statements rather than quoting u directly. I should have said doesn't 'all that matters is what price is doing now' mean that whatever is happening now, in the moment, is the only truth?

Is there an equation for working out the speed of price?

Does volatility of a pair have a bearing on speed or is it a seperate piece of the puzzle?

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prochargedmopar
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Postby prochargedmopar » Sun Oct 04, 2009 7:38 pm

TheRumpledOne wrote:Image

Is there something "wrong" with this picture?

TO BE CONTINUED...


too funny,
I looked at that chart and was like, hmmm, what's wrong with it?
I looked at the 3 huge momo bars.
I looked at the small re-tracements after each bar
I looked at the Huge drop and thought to myself, this thing is about to reverse, It can't go lower.( my main problem in trading).
always thinking the market can't go further while my account is being drained......LOL

Then looked at the next post and realized the colors were reversed.
doh.
#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

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Postby Brookmyre » Mon Oct 05, 2009 1:19 am

While talking about the speed of price can someone give me an idea of the time period of when they consider price has stalled....ie hasnt moved out of a 3 pip range in two mins...etc thanks
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

Brookmyre
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Postby Brookmyre » Mon Oct 05, 2009 1:31 am

Ok...speed of price...would that be High-Low/Timeframe?
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

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TheRumpledOne
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Postby TheRumpledOne » Mon Oct 05, 2009 2:22 am

I wrote a speedometer indicator...

(close - open) / timeframe
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby Brookmyre » Mon Oct 05, 2009 2:37 am

Thanks!
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

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speedometer indicator

Postby fres » Tue Oct 06, 2009 12:04 am

TheRumpledOne wrote:I wrote a speedometer indicator...

(close - open) / timeframe


Hi TRO
Is this indicator now available for download ? Thanks

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