Blind Mouse Strategy

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prochargedmopar
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Postby prochargedmopar » Fri May 14, 2010 1:50 pm

My blind mouse needs to open his dadgum eyes.

Trading against price movement is a pain in my A.
+50
pips net on 5 trades and saw +18 one but let it hit my (moved up) stop, -2.

Image

What I envisioned was going to happen, finally did.
I started shorting waaaaay to early.

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This mouse business........
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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newark18
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Postby newark18 » Fri May 14, 2010 2:25 pm

It's still really early and I need to wrap my head around this a bit more but I think I love MO. I'm a man and I'm not afraid to say it.
Failure is an opportunity to learn.

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newark18
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Postby newark18 » Fri May 14, 2010 2:39 pm

I like this idea since this is more S&R-centric. I think I have been too focused on targets and momo that I put less emphasis on S&R lines.
Failure is an opportunity to learn.

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newark18
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Postby newark18 » Fri May 14, 2010 3:09 pm

I am mid trade but I wanted to show this. Right now I am up 55 pips on 2Us. Again I had a late entry but still looking good. I am looking to average in more once this candle closes. So far, around 100 pips today without feeling too stressed out. Thanks again MO.

Edit: Just to clarify, I don't think my entry is technically according to this strategy. But I noticed that it hit a S&R and closed below it it.

Image
Last edited by newark18 on Fri May 14, 2010 3:16 pm, edited 1 time in total.
Failure is an opportunity to learn.

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IN-XS
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Postby IN-XS » Fri May 14, 2010 3:15 pm

Nice Newark,

Wish I could hold without stress!

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newark18
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Postby newark18 » Fri May 14, 2010 3:18 pm

Actually, if you look at the wicks charging toward my 2U average, I was a little stressed. But I was never in the red. It is amazinf how price respects S&R points. It's crazy actually.
Failure is an opportunity to learn.

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Postby newark18 » Fri May 14, 2010 3:44 pm

Oh well, I got stopped out at BE. It advanced past my S&R line and took out my 4U average. Lost out on at least 70+ pips but I definitely like this way of trading. Broke even on this trade but made some pips with my earlier trade.
Failure is an opportunity to learn.

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newark18
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Postby newark18 » Fri May 14, 2010 3:47 pm

Now that I am looking at the chart, I should have closed out my trade when it touched an extreme S&R point but closed above it. Lesson learned.
Failure is an opportunity to learn.

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IN-XS
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Postby IN-XS » Fri May 14, 2010 3:51 pm

Shame Newark. It was looking good, looks like your the opposite of me, you hold till the bitter end, lol!

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Postby gfg1 » Fri May 14, 2010 3:52 pm

newark, nice work. How did you change the color and size of the semafor numbers?

newark18 wrote:I am mid trade but I wanted to show this. Right now I am up 55 pips on 2Us. Again I had a late entry but still looking good. I am looking to average in more once this candle closes. So far, around 100 pips today without feeling too stressed out. Thanks again MO.

Edit: Just to clarify, I don't think my entry is technically according to this strategy. But I noticed that it hit a S&R and closed below it it.

Image
Price closed over a line that you believed to be support and that is the first indication that something is WRONG-MO

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