Aliassmith Psychology 101 and other stuff

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

Brookmyre
rank: 150+ posts
rank: 150+ posts
Posts: 192
Joined: Wed Sep 16, 2009 11:13 pm
Reputation: 0
Gender: Male

Postby Brookmyre » Wed Mar 17, 2010 12:23 am

Aliassmith, can you tell me please, are you simply looking to get wicked in at your s/r lines or waiting for some kind of confirmation?

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

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Wed Mar 17, 2010 12:54 pm

gfg1 wrote:
aliassmith wrote:The first +15 trade is one I was feeling greedy, fear of missing out,
stubborn. I should have took the +15 instead of being mental which
would have allowed me to take the trade marked +20. I did eventually
take +15 from the first entry point.



Alias, do you filter those trades based on hour, daily, etc. or take them as they come? TIA


I base them off off M5 and a lot of studying. I am still practicing, but as
you may be able to see, if I can be right only 50% it is very profitable.
Trade Your Way as Long as It Makes Money!

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Wed Mar 17, 2010 12:58 pm

Brookmyre wrote:Aliassmith, can you tell me please, are you simply looking to get wicked in at your s/r lines or waiting for some kind of confirmation?

Thanks


Well my first study had to do with confirmation. Now I am studying less
risk entry points where I can get wicked in. Typically if it is a S/R point
I will only need about 5 pips risk to test the place. If it closes against me
I am out of there.

After about 10 pips move I move my SL to BE and look for my target area.

From the chart #1 in my mind was the only spot to test s/r on that swing.

#2 was the first spot to test and if that failed #3 would have been my second attempt.
Attachments
aliasmar17m5.gif
aliasmar17m5.gif (19.47 KiB) Viewed 1745 times
Trade Your Way as Long as It Makes Money!

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Wed Mar 17, 2010 3:45 pm

Trading according to my plan has a better expectancy than being
emotional.

Little arrows are entry and direction

Grey box are profit targets based on MightOne's Ruler of Six
Attachments
aliasmar17m5xx.gif
aliasmar17m5xx.gif (23.12 KiB) Viewed 1732 times
Trade Your Way as Long as It Makes Money!

User avatar
newschool
rank: 150+ posts
rank: 150+ posts
Posts: 489
Joined: Fri Aug 21, 2009 2:26 am
Reputation: 0
Gender: Male

Postby newschool » Wed Mar 17, 2010 7:39 pm

Breakeven is the best strategy ever invented since Napoleon.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
scratty
rank: 150+ posts
rank: 150+ posts
Posts: 359
Joined: Wed Nov 11, 2009 9:42 am
Reputation: 0
Gender: Male

Postby scratty » Thu Mar 18, 2010 7:18 am

Breakeven is a strategy? What Strategy? Are you taking about taking your SL to BE after some profit?

newschool wrote:Breakeven is the best strategy ever invented since Napoleon.
Lose professionally!

User avatar
newschool
rank: 150+ posts
rank: 150+ posts
Posts: 489
Joined: Fri Aug 21, 2009 2:26 am
Reputation: 0
Gender: Male

Postby newschool » Thu Mar 18, 2010 12:06 pm

scratty wrote:Breakeven is a strategy? What Strategy? Are you taking about taking your SL to BE after some profit?

newschool wrote:Breakeven is the best strategy ever invented since Napoleon.


Yeah

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Thu Mar 18, 2010 12:56 pm

newschool wrote:Breakeven is the best strategy ever invented since Napoleon.


I find that if I had my entry to within a pip or so of where I want it, that price rarely comes back to that point. I move my SL to BreakEven after
a few candles and/or about 10 pips.

At that point it either goes to my TP or SL, I am all in.
Trade Your Way as Long as It Makes Money!

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Thu Mar 18, 2010 3:13 pm

I managed to not make any emotional entries today, BIG victory.

Exit Targets:
*** initial SL of -5
*** candle closes against S/R smaller loss
*** adjusted SL of BE after price moves away 6 to 10 pips
*** range of +13 to +20 depending on situation

15 pips average will be 25% accuracy or better to Break Even.

50% accuracy and 50 trades a month get me to my 250 pips destination.

Follow the PLAN, Follow the PLAN, Follow the Plan

Practice, practice, practice!
Attachments
aliasmar18m5.gif
aliasmar18m5.gif (22.66 KiB) Viewed 1668 times
Trade Your Way as Long as It Makes Money!

User avatar
es/pip
rank: 1000+ posts
rank: 1000+ posts
Posts: 2898
Joined: Wed Jan 21, 2009 9:28 pm
Reputation: 0
Gender: None specified

Postby es/pip » Thu Mar 18, 2010 3:21 pm

aliassmith wrote:I managed to not make any emotional entries today, BIG victory.

Exit Targets:
*** initial SL of -5
*** candle closes against S/R smaller loss
*** adjusted SL of BE after price moves away 6 to 10 pips
*** range of +13 to +20 depending on situation

15 pips average will be 25% accuracy or better to Break Even.

50% accuracy and 50 trades a month get me to my 250 pips destination.

Follow the PLAN, Follow the PLAN, Follow the Plan

Practice, practice, practice!



lol

almost looks like my m5 scalp chart-------- :D

made most of those same trades--- in those areas----

u catch this last move ----- not sure what happened but they are whacking it---- m5 came ack into a little resistance line on the m5 right before it started tanking
Bend over and assume the position for another 4 years of hope and change.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”