Aliassmith Psychology 101 and other stuff

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poipen
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Postby poipen » Wed May 12, 2010 10:44 pm

aliassmith wrote:After doing a lot more studying and asking the chart for it's secrets,
I am left with range & correction running through my brain. Over
and over again.

MOMO on some timeframe is actually range depending on the angle
of the move.

WICKED IN is actually correction unless of course it becomes the
new range.

ENTRY is at 0 to 50% of the range at some form of Support/Resistance.
ie. zline on pegged timeframe, zline on smaller TF, Rat entry, ect. basically
looking to enter near where stops will push you in your direction

EXIT near exterme of MOMO/Range. Look for trouble spots at the extreme
and make the exit there.


Wow! awesome post, ill be reading this another 40 times today. Thanks very much alias.
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scratty
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Postby scratty » Thu May 13, 2010 11:14 am

thanks aliassmith

Im shure this is a very effective method. My problem with this aproach is that i can not stay in front of the screen all the time. Because im working fulltime and have lots of meetings where i can not trade. This means i have to work with SL...

How are otherones dealing with the problem when working on an other job?

aliassmith wrote:
scratty wrote:Im thinking about the Point 2. DO NOT MOVE STOPS TO BE. This makes sence for me. What im wondering is what you guys think about moving stops to reduce risk. For example in a scale in situation: First SL is -20Pips after 30 Pips in Profit you double your position.If you would set the sl (for the second half) to the same point as with the first one you increase the risk.

Know what im doing (and thinking is a good thing to do) in this example is set new sl for whole position to 20Pips Risk to stay at this risk level. This means i move the stop.

Any thoughts, tipps or experiences of some of you about the issue?



aliassmith wrote:Worth repeating over and over again:

1. DO NOT SCALE DOWN
2. DO NOT MOVE STOPS TO BREAK EVEN
3. DO NOT USE TRAILING STOPS AS EXITS
4. DO NOT TRADE LIKE A COMPUTER
5. DO NOT FAIL TO TAKE THE TRADES YOU SEE
6. DO NOT CONSIDER YOUR ACCOUNT BALANCE 2B REAL MONEY.
- MightyOne NLA


When you average your lots in, I would think that you consider the most
recent S/R and plan for an exit if the 5minute candle close against that
area. So plan your overall risk based on that information, you are building
a position, not individual trades.

I believe MIghtyONe said the SL is set because he doesn't want to risk infinity so he sets it at the maximum risk and lets PA determine the rest.
Lose professionally!

aliassmith
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Postby aliassmith » Thu May 13, 2010 12:23 pm

poipen wrote:
aliassmith wrote:After doing a lot more studying and asking the chart for it's secrets,
I am left with range & correction running through my brain. Over
and over again.

MOMO on some timeframe is actually range depending on the angle
of the move.

WICKED IN is actually correction unless of course it becomes the
new range.

ENTRY is at 0 to 50% of the range at some form of Support/Resistance.
ie. zline on pegged timeframe, zline on smaller TF, Rat entry, ect. basically
looking to enter near where stops will push you in your direction

EXIT near exterme of MOMO/Range. Look for trouble spots at the extreme
and make the exit there.


Wow! awesome post, ill be reading this another 40 times today. Thanks very much alias.


All of you who said thanks you are welcome. Maybe I am wierd, ok I
probably am :lol: but I have been on a mission to understand price
movement at it's core. When I see people post trading concepts I
try to break them down to their basic building blocks.

I use this thread to post my findings and observations along with some
ramblings. :)

Have you ever looked at a high timeframe candle setup and broke it down
to see what magic/logic is "behind the curtain"?

Ranges, Corrections, and order placement (stop orders)?
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Postby es/pip » Thu May 13, 2010 12:32 pm

Have you ever looked at a high timeframe candle setup and broke it down
to see what magic/logic is "behind the curtain"?



8)
Bend over and assume the position for another 4 years of hope and change.

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Postby aliassmith » Thu May 13, 2010 1:22 pm

es/pip wrote:
Have you ever looked at a high timeframe candle setup and broke it down
to see what magic/logic is "behind the curtain"?



8)


I know you do King of the Pips! :D
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Postby aliassmith » Thu May 13, 2010 4:49 pm

Wait for it! 8)

Range from a consolidation short plus broke out from an obvious extreme.
Corrected to a price that had stop losses in place
Short to extreme
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Postby aliassmith » Sat May 15, 2010 10:47 pm

Range/Correction

Zline in the MightyZone
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es/pip
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Postby es/pip » Sun May 16, 2010 12:22 am

nice trades

:wink:
Bend over and assume the position for another 4 years of hope and change.

aliassmith
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Postby aliassmith » Sun May 16, 2010 12:38 pm

es/pip wrote:nice trades

:wink:


I actually took the last trade in two different moves based off of the 5
minute. About 70 pips worth! I am happy about it. :D
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Postby es/pip » Sun May 16, 2010 4:35 pm

aliassmith wrote:
es/pip wrote:nice trades

:wink:


I actually took the last trade in two different moves based off of the 5
minute. About 70 pips worth! I am happy about it. :D



nice

i was in that one with you


nice exit at the extreme as well
Bend over and assume the position for another 4 years of hope and change.

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