Aliassmith Psychology 101 and other stuff

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es/pip
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Postby es/pip » Sun Mar 21, 2010 1:08 am

prochargedmopar wrote:I understand fibs, extensions, and retracements.
I understand that his is set in increments of six.

I'm NOT seeing where he pulls them from based on the last 3 candles.
thx.

I really want to take some weekly rides with my account.


you have 3 candles

1st has a range of 100

2nd has a range of 200

3rd has a range of 300


you measure the fib off the middle (range) candle so in this case the 200 one

then you place it on the h/l of the current candle to project that target


so you are always looking at 3 past candles and take the middle (range) one to calc off of

i think that it how you do it---- i haven't really looked at it yet




:D


edit--------------------

just saw tman posted when i did----- so i guess that is correct in the way u do it
Bend over and assume the position for another 4 years of hope and change.

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prochargedmopar
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Postby prochargedmopar » Sun Mar 21, 2010 1:38 am

thx to both.

Now I understand why his target could change if the candle switched direction mid stream......the one good thing is that once an extreme is formed and price is moving the other way, the target you are trying to reach will NOT change.

sweet.
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Postby aliassmith » Sun Mar 21, 2010 4:19 pm

prochargedmopar wrote:
aliassmith wrote: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


Funny you say you don't trade fibs but the ruler of 6 is plotted with the fib tool
Will you please explain the calculations you use for your targets.
for some reason I'm NOT seeing what they are based on. As Bredin's targets move with the forming candle.

Maybe you can explain it differently.


Hey Procharged,

I did say I don't use FIBs. I took them off of my charts although Ruler
of six might be a good tool, I would prefer to go naked.

I think Fibs and the fact that they work (sometimes) has less to do with
the Fibs themselves and more to do with human nature and Price Action.

BTW... My current exit targets are:
*** 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 (possible S/R)
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Postby aliassmith » Sun Mar 21, 2010 4:24 pm

es/pip wrote:
aliassmith wrote:
es/pip wrote:US session

only traded US session today

Image


You was kickin' some but there. I don't think I can be as aggressive as
you. You did well, 24% is "nutty". :shock:

I didn't get to trade as long as I wanted Friday. I did check the charts
and according to my plan there was another nice entry for about +20
pips. Pretty much a no brainer.

Thanks for the chart. Maybe it will help me although it looks like you
confirm the trades I have on my chart. :D


i should have noted above----- some of those trades i didnt have full size on

after commish and accounting for full lot size per trade-- came out to 86 pips


so around 17ish %

:D


HaHa,

That is still 1/3 of my monthly objective. 8)

I am still trying to figure out why you made some of the entries you
made. Were some of your longs based on something not on that chart?
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Postby adaseb » Sun Mar 21, 2010 4:52 pm

I'm surprised I missed this thread.

Regarding trading off the price extremes, I actually noticed that pattern a few times when trading Zerolines.

Price would enter a Mightyzone, and then pullback to stop you out and then go the desired direction.

Similar to what I posted in the other thread
Image

I'm going to start following this thread. These M5 scalping seems interesting. However in the past when I tried it, I never had much luck. I would enter of the M5/M15 but in the end I pretty much broke even.

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Postby es/pip » Sun Mar 21, 2010 5:12 pm

aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:US session

only traded US session today

Image


You was kickin' some but there. I don't think I can be as aggressive as
you. You did well, 24% is "nutty". :shock:

I didn't get to trade as long as I wanted Friday. I did check the charts
and according to my plan there was another nice entry for about +20
pips. Pretty much a no brainer.

Thanks for the chart. Maybe it will help me although it looks like you
confirm the trades I have on my chart. :D


i should have noted above----- some of those trades i didnt have full size on

after commish and accounting for full lot size per trade-- came out to 86 pips


so around 17ish %

:D


HaHa,

That is still 1/3 of my monthly objective. 8)

I am still trying to figure out why you made some of the entries you
made. Were some of your longs based on something not on that chart?


which ones?

when the market was moving down in that sell off i had h1 areas i was watching that i was basing some of those off of
Bend over and assume the position for another 4 years of hope and change.

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Postby Humble » Mon Mar 22, 2010 2:11 am

adaseb wrote:I'm surprised I missed this thread.


I guess the OP is allowed to take their own thread off topic 8)
Is price closing higher or lower than something? Simple yet powerful question. ..MO

aliassmith
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Postby aliassmith » Mon Mar 22, 2010 12:19 pm

es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:US session

only traded US session today

Image


You was kickin' some but there. I don't think I can be as aggressive as
you. You did well, 24% is "nutty". :shock:

I didn't get to trade as long as I wanted Friday. I did check the charts
and according to my plan there was another nice entry for about +20
pips. Pretty much a no brainer.

Thanks for the chart. Maybe it will help me although it looks like you
confirm the trades I have on my chart. :D


i should have noted above----- some of those trades i didnt have full size on

after commish and accounting for full lot size per trade-- came out to 86 pips


so around 17ish %

:D


HaHa,

That is still 1/3 of my monthly objective. 8)

I am still trying to figure out why you made some of the entries you
made. Were some of your longs based on something not on that chart?


which ones?

when the market was moving down in that sell off i had h1 areas i was watching that i was basing some of those off of


Actually that is the answer I was looking for thanks.
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Postby aliassmith » Mon Mar 22, 2010 12:22 pm

Humble wrote:
adaseb wrote:I'm surprised I missed this thread.


I guess the OP is allowed to take their own thread off topic 8)


My overall objective here in this thread is to learn to (use, control, remove)
my fear and greed while trading.

EDIT: BTW seeing ES/PIP take the same trades I see helps me build my
confidence.

You are welcome to jump in an explain emotional issues you are having as
well.
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aliassmith
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Postby aliassmith » Mon Mar 22, 2010 1:29 pm

Trying to focus, had some crazy thoughts about making shorts off of
the M1 chart. :(

Need to keep focus and wait for price to go where I want to make my
decision. My trigger finger is getting itchy, so I am posting this.
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