Aliassmith Psychology 101 and other stuff

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aliassmith
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Postby aliassmith » Sat Jun 26, 2010 6:29 pm

The break out candle peaks at 15 pips
The next candle peaks at 25 pips
Price comes back ad hit 10 pips SL
Then continues on to a 30 pips peak

Moving your SL to Break Even and you are wicked out
Having a 10 pips SL and you get wicked out before a 30 pips move

The market dynamics such as this are a wonderful thing to behold. :)
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aliassmith
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Postby aliassmith » Wed Jun 30, 2010 1:27 pm

Step One: find order stack
Step Two: Price closes over a line, Price doesn't close over a line
Step Three: Cut your losses, Press your wins
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aliassmith
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Postby aliassmith » Thu Jul 01, 2010 12:45 pm

Correction and trade to a daily Fat Cat.
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MightyOne
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Postby MightyOne » Thu Jul 01, 2010 3:47 pm

aliassmith wrote:Correction and trade to a daily Fat Cat.


Once it all clicks you will spew money into your account like too much liquor the night before :wink: :lol:

aliassmith
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Postby aliassmith » Thu Jul 01, 2010 4:26 pm

MightyOne wrote:
aliassmith wrote:Correction and trade to a daily Fat Cat.


Once it all clicks you will spew money into your account like too much liquor the night before :wink: :lol:


To much liquor the night before usually makes me spew alright. :shock:

Still working on emotional issue of holding losses. Reading Phantom helps
solidify some of your concepts and the way he adds to positions.
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aliassmith
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Postby aliassmith » Fri Jul 02, 2010 5:03 pm

aliassmith wrote:
MightyOne wrote:
aliassmith wrote:Correction and trade to a daily Fat Cat.


Once it all clicks you will spew money into your account like too much liquor the night before :wink: :lol:


To much liquor the night before usually makes me spew alright. :shock:

Still working on emotional issue of holding losses. Reading Phantom helps
solidify some of your concepts and the way he adds to positions.


Easier to make a lot more money when I cut my losses. I seem to be
getting a handle on that. Wierd how I can take big drawdowns and still
come out ahead. Cut out the big drawdowns guess what! :D

It is also possible to make rediculous returns when you take advantage of
your winners. Heck, if you can add into a trade and get it up to about
30:1 leverage then that is a lot of cheese.

It is just silly how cut your losses short and let your winners run comes
full circle, at least in some form.
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MightyOne
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Postby MightyOne » Fri Jul 02, 2010 6:25 pm

aliassmith wrote:
aliassmith wrote:
MightyOne wrote:
aliassmith wrote:Correction and trade to a daily Fat Cat.


Once it all clicks you will spew money into your account like too much liquor the night before :wink: :lol:


To much liquor the night before usually makes me spew alright. :shock:

Still working on emotional issue of holding losses. Reading Phantom helps
solidify some of your concepts and the way he adds to positions.


Easier to make a lot more money when I cut my losses. I seem to be
getting a handle on that. Wierd how I can take big drawdowns and still
come out ahead. Cut out the big drawdowns guess what! :D

It is also possible to make rediculous returns when you take advantage of
your winners. Heck, if you can add into a trade and get it up to about
30:1 leverage then that is a lot of cheese.

It is just silly how cut your losses short and let your winners run comes
full circle, at least in some form.



If you are going to go that high (30 to 1) then I would start with:

5 + 5 (avrg = 50% RET)

+ 15 to 1 (40% RET)

that would be the springboard to insanity.

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Postby d4x » Fri Jul 02, 2010 8:09 pm

Hi Alias,

Just reading your thread and Phantom of the pits, both are good stuff. Wondering if you could explain how you add to your position (like MO or Phantom) when your going for smaller pip totals. I can see how to do it when your targeting 75+ pips and you have some breathing room, but when only going for 30-40 pips how do you get in at multiple entry points without having a large draw down.

Thanks
D4x

aliassmith
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Postby aliassmith » Sat Jul 03, 2010 1:05 pm

MightyOne wrote:
aliassmith wrote:
aliassmith wrote:
MightyOne wrote:
aliassmith wrote:Correction and trade to a daily Fat Cat.


Once it all clicks you will spew money into your account like too much liquor the night before :wink: :lol:


To much liquor the night before usually makes me spew alright. :shock:

Still working on emotional issue of holding losses. Reading Phantom helps
solidify some of your concepts and the way he adds to positions.


Easier to make a lot more money when I cut my losses. I seem to be
getting a handle on that. Wierd how I can take big drawdowns and still
come out ahead. Cut out the big drawdowns guess what! :D

It is also possible to make rediculous returns when you take advantage of
your winners. Heck, if you can add into a trade and get it up to about
30:1 leverage then that is a lot of cheese.

It is just silly how cut your losses short and let your winners run comes
full circle, at least in some form.



If you are going to go that high (30 to 1) then I would start with:

5 + 5 (avrg = 50% RET)

+ 15 to 1 (40% RET)

that would be the springboard to insanity.


Thanks, I will look into that. I am always looking for the best way to build my rocket ship. It is harder on smaller timeframes but can be done.
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aliassmith
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Postby aliassmith » Sat Jul 03, 2010 1:14 pm

d4x wrote:Hi Alias,

Just reading your thread and Phantom of the pits, both are good stuff. Wondering if you could explain how you add to your position (like MO or Phantom) when your going for smaller pip totals. I can see how to do it when your targeting 75+ pips and you have some breathing room, but when only going for 30-40 pips how do you get in at multiple entry points without having a large draw down.

Thanks
D4x


Well, all I can say is it is in Phantom's and MightyOne's teachings. It is
up to the individual how to implement it. On the smaller timeframes
and swings, one needs to be prepared to build the rocket ship. The thing is
that I don't always get the opportunity to get it built. You have to be aware
of the small/and large timeframe S/R.

Most importantly you have to think quick and be nimble.

Edit: here is a pic, you have to place your orders to stay beyond the
corrections like in the example. This may mean using different lot sizes
to compensate for order position.
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