Blind Mouse Strategy

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mob
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Postby mob » Sun May 30, 2010 5:23 am

MO - a picture is better than a 1000 words.... That is exactly what I was doing so far but as I said initially, such move against my conviction / analysis is presently difficult to sit thru with my limited trading experience.... You mentioned you would do this without S/L, but there must be a point when you would consider to pull the plug on this trade - when it reaches your max draw-down for the week / month? Thanks for spending your time to help me here!

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MightyOne
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Postby MightyOne » Sun May 30, 2010 5:35 am

mob wrote:MO - a picture is better than a 1000 words.... That is exactly what I was doing so far but as I said initially, such move against my conviction / analysis is presently difficult to sit thru with my limited trading experience.... You mentioned you would do this without S/L, but there must be a point when you would consider to pull the plug on this trade - when it reaches your max draw-down for the week / month? Thanks for spending your time to help me here!


I do have a weekly DD limit of ~4.5%.

If I am going to lose more then I have made a decision to use stored profit for a :shock: move.

mob
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Postby mob » Sun May 30, 2010 5:47 am

Thanks MO! Have an enjoyable memorial holiday weekend

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noone22
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Postby noone22 » Mon May 31, 2010 8:37 am

Define Daily
please.

When your day is starting?

At midnight EST NY?
At nidnight by MT4 broker clock?
At start of London session?
Something else?

Is daily referres
to current day or
yesterday?

P.S.: The following is my humble
opinion and doesn't require any discussion.

This system will only work,
if you're lucky to guess
the correct direction of price move
after bouncing of some imaginery line.

What happens, if price won't bounce
from daily high, but instead -
will start to breakout to higher high
and you're already short?
Exit for small loss...

But you have to repeat the previous manipulations
at each and every new higher high.
It won't work in continuing up trend
untill trend will change direction to a down trend.

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MightyOne
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Postby MightyOne » Mon May 31, 2010 6:59 pm

noone22 wrote:Define Daily
please.

When your day is starting?

At midnight EST NY?
At nidnight by MT4 broker clock?
At start of London session?
Something else?

Is daily referres
to current day or
yesterday?

P.S.: The following is my humble
opinion and doesn't require any discussion.

This system will only work,
if you're lucky to guess
the correct direction of price move
after bouncing of some imaginery line.

What happens, if price won't bounce
from daily high, but instead -
will start to breakout to higher high
and you're already short?
Exit for small loss...

But you have to repeat the previous manipulations
at each and every new higher high.
It won't work in continuing up trend
untill trend will change direction to a down trend.



Your questions show that you do not read my posts...


-Price is going to move up or down from a daily+ extreme.

-The range is going to expand from an extreme based on the ranges of the period that that extreme represents.

-There will be many higher highs or lower lows but only one highest and lowest price in any given period.


These three points are the core of everything I do and achieve.

I am not here to save mankind from collection agencies but to simply point the way to prosperity.

If you remain lost then it is because you are not moving your feet.

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roger_over
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Postby roger_over » Tue Jun 01, 2010 12:10 am

Drawing CC's is easy:

1. Look for a Rat.

2. Combine the previous 3 candles for CC.

3. Consider the CC of the previous 6 candles.[/quote]

Hi MO Do you mind if ask a ? , when drawing a CC what would be the best higher TF to draw them to help make an entry on lower TF D 4H, ?

Thanks for all of your continued help here
Genius is more often found in a cracked pot than in a whole one.
E. B. White

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TheRumpledOne
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Postby TheRumpledOne » Tue Jun 01, 2010 3:42 pm

"If you remain lost then it is because you are not moving your feet."

ROFLMAO!!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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MightyOne
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Postby MightyOne » Tue Jun 01, 2010 6:10 pm

roger_over wrote:Drawing CC's is easy:

1. Look for a Rat.

2. Combine the previous 3 candles for CC.

3. Consider the CC of the previous 6 candles.


Hi MO Do you mind if ask a ? , when drawing a CC what would be the best higher TF to draw them to help make an entry on lower TF D 4H, ?

Thanks for all of your continued help here[/quote]



My rule for long term charts is:

DO-WHAT-MATTERS-YOURSELF or DAILY-WEEKLY-MONTHLY-YEARLY

The rule of moving parts: the long term chart being traded cannot be broken down into more than 8 parts for analysis.

Humble
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Postby Humble » Wed Jun 02, 2010 12:58 am

So we could look at the daily and the 1hr with a 3hr custom candle indi on it?
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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MightyOne
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Postby MightyOne » Wed Jun 02, 2010 5:26 am

Humble wrote:So we could look at the daily and the 1hr with a 3hr custom candle indi on it?


that is correct.

a 3 hour CC satisfies the rule of moving parts for the daily candle.

In my opinion, combining 3 candles is the ideal CC; 2, 4, or more just doesn't cut it.

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