2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

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TheRumpledOne
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Re: 2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

Postby TheRumpledOne » Tue Dec 16, 2014 10:43 pm

MightyOne wrote:
What should I read to trade like you?


You can't trade like me, you can only trade like you.

There is nothing consistently earning... Rat and wick zone is full of false break outs...


If you see your trade move to -6 nearly every time you trade a breakout then place a limit 4 points into the extreme.

If you keep getting stopped out only for price to reverse and take off without you then place a limit 6 or 8 points into the extreme after signal.

If you notice that most of the time price moves 3 pips past the BO before retracing then take partial profit at 2 pips.
2 pips + the 4 from the limit gives you a profit of 6 & reducing from 3 lots to 2 lots moves your break even 3 pips behind your entry for a total retrace of 9 pips.

That is why you will hear people say that it is the trader and not the system that makes money...
they trade what they see.

how can exist people who made millions from small accounts?


Not everyone is a mindless drone.



MO... if you would draw that on a chart, then it should be easy to see what you are talking about.. thanks.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Re: 2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

Postby volnmar » Wed Dec 17, 2014 9:07 am

It would be great to see it in picture... but anyway, deeper i go with studying all of this... more I thing that everywhere on a chart at any time there is the same probability to success, if nothing can be predicted and everything can happen, key must be in Risk/Reward ratio....
Just learning

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Re: 2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

Postby volnmar » Wed Dec 17, 2014 9:10 am

And TRO please I found your indicator TRO_Turn and TRO_ Turn Zone.. how does it work.. how it choose candles?
Just learning

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Re: 2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

Postby MightyOne » Wed Dec 17, 2014 9:30 am

MO... if you would draw that on a chart, then it should be easy to see what you are talking about.. thanks.


Spend your time marking charts for randoms, I have better things to do :lol:

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Re: 2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

Postby volnmar » Wed Dec 17, 2014 9:45 am

MightyOne wrote:
MO... if you would draw that on a chart, then it should be easy to see what you are talking about.. thanks.


Spend your time marking charts for randoms, I have better things to do :lol:



Here you have chart, Wick Zone Indicator, red line.... show us please..

Image
Just learning

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Re: 2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

Postby MightyOne » Wed Dec 17, 2014 7:52 pm

The novice uses indicators to trade.

The professional uses indicators to problem solve.

If you can't problem solve then you can't trade.

Here is a very basic playbook.
If I marked every action it would fill the whole screen in a cloud of text:

Image


Here is the simple truth of trading breakouts:

Extremes are the worst price to enter the market (they are called 'extreme prices'...think about that).

If the high extreme is bad for longs and the low extreme is bad for shorts then the middle of the range must
be the best price for both; but price doesn't usually reverse that far when trending so the best we can hope for
is around 1/4 to 1/3 penetration of the range after a breakout.

This is what you do to become a better trader:

1. use a real broker with a professional platform (one that offers advanced order types)
2. learn the order types.
3. buy a dry erase board and create 'plays' for your entry/exit playbook using your new order type knowledge.

One of the keys to trading is simply KNOWING all of your options.
If an option is the best and you don't know that it is there then you cannot make the best decision.

4. do REAL paper trading: once per day:
print out the daily or 8 hour chart
print out the 30 or a 10 minute chart and pencil in a days worth of PA.
take those charts to the kitchen table and think about them...use your dry erase board and problem solve.
Mark your charts, make notes, put them in a file folder, KEEP THEM!

Trading a demo account is not paper trading, that only gets you used to placing orders.

Your brain gets so filled with incoming information that you remain dumb for years...

how do I know that they remain dumb? they post charts with perfect up/down trends, marked with EMA's (as if they can't already see what price is doing!), and they ask me how to trade the chart.

If they can't figure out how to trade a chart that is moving straight up then I can't help them...they should bag groceries or shovel s**t...something more on their mental level.

5. find truths:
a) price rises on bodies but cannot fall on wicks.
b) price moves hundreds of pips from one long term extreme or the other.
c) extremes are the worst price to enter a trade
write them down and keep the book under lock and key; treat each truth as sacred.

6. ask questions, hear what people have to say, but look to your heart for the answer.

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Re: 2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

Postby aliassmith » Wed Dec 17, 2014 8:30 pm

MightyOne wrote:
4. do REAL paper trading: once per day:
print out the daily or 8 hour chart
print out the 30 or a 10 minute chart and pencil in a days worth of PA.
take those charts to the kitchen table and think about them...use your dry erase board and problem solve.
Mark your charts, make notes, put them in a file folder, KEEP THEM.


I did this a lot. I printed basic candle stick charts
and put my marks all over them. It was very helpful.
Trade Your Way as Long as It Makes Money!

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Re: 2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

Postby seedling » Thu Dec 18, 2014 11:31 am

Thank you MightyOne for continuing contributions to the people 8).
"Intention transforms while attention creates." Deepak Chopra

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Re: 2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

Postby MightyOne » Thu Dec 18, 2014 5:40 pm

You learn in one post what cost us thousands of dollars, but you don't care; you learned it for free on the internet :lol:

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Re: 2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

Postby aliassmith » Thu Dec 18, 2014 7:21 pm

MightyOne wrote:You learn in one post what cost us thousands of dollars, but you don't care; you learned it for free on the internet :lol:

Image


I had Ken's Course. His course was no substitute for
experience tho. Im sure many thought they were
unstoppable after that course.

I was able to pull off a 52week low
1-2-3 bottom and have several adds as he suggested
and it paid off well.

I did end up quiting trading at the time, but thats
another story.
Trade Your Way as Long as It Makes Money!

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