Libertarians take on trading

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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Wed Sep 28, 2016 12:58 am

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This is a really frustrating one. The back story to this is, I had not gotten filled on several trades, where I was right direction wise for what would have been big pips and I ended up seeing price move away without me (a common theme). So I entered on an admittedly shaky 4hr momo, thinking I'll just keep my position on as long as it doesn't move beyond my daily MOMO. So as you can see price moved up to that area and momo'd away, great, price came back and what tripped me up is the small little 4hr bodies that started closing away, I was thinking "I need momo" out of there, and I thought this was a sign that I was wrong in the trade and that it was going to move up and take out some of the held profit on the bigger 5 daily candle MOMO. I was wrong, because I took my small loss thinking I was doing something smart. :x :x :x :x #-o #-o #-o [-X [-X [-X

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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Wed Sep 28, 2016 1:07 am

Another frustrating loss, if you look at the previous UC trade, I had a bearish bias, but I cut it short because I thought we were going to get dollar strength. I thought I had learned the lesson, that I am just going to trade the candles and not try to be a smarty pants. So I just took the trade. Thought if we were going short we'd come back into the range and zero those folks out and keep moving lower.

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One lesson here is that on the Hr chart and smaller price came back to the zone and made a lower low. This should have been a red flag that I either missed it or am wrong about direction. Something to keep in the back of my mind.

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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Wed Sep 28, 2016 1:14 am

Just to update. Since I got my new broker. I am down just under 2%. I have been using 1% over 50 pips as my default position size. I know I need to bust up my positions into pieces, but haven't been able to do it yet. I think once I have some success of seeing I can actually trade, I may feel more comfortable with this. I suck donkey D&#@ at adding, so its on the to do list. If only it were as easy as the almighty one makes it look :lol:

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Re: Libertarians take on trading

Postby MightyOne » Wed Sep 28, 2016 7:50 pm

USDCAD_M10b_3p6.png


When in doubt box it out. :lol:

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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Thu Sep 29, 2016 1:28 am

Speak of the devil :twisted: :mrgreen:

Im actually finding myself more partial to this...

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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Thu Sep 29, 2016 1:37 am

Update, account is back to BE after this trade. Even got a hedge in :mrgreen:

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Now if only I can push my position up even higher. :P

BTW, these FX brokers are all crooks, the s**t they pull...

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Re: Libertarians take on trading

Postby MightyOne » Thu Sep 29, 2016 5:22 pm

Libertarian wrote:Speak of the devil :twisted: :mrgreen:

Im actually finding myself more partial to this...

usdchfecn-h4-tallinex-limited.png


I forgot that I even designed that charting method :lol:

The M5 is probably a better place for it.

HERE IT IS.

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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Thu Sep 29, 2016 9:06 pm

MightyOne wrote: The M5 is probably a better place for it.



Every frackin time I think I might know what I'm doing you gotta throw a comment in there that shatters that :lol:

Didn't TRO say price is the same on all TFs? Argh :!:

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MightyOne
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Re: Libertarians take on trading

Postby MightyOne » Fri Sep 30, 2016 3:56 pm

Libertarian wrote:
MightyOne wrote: The M5 is probably a better place for it.



Every frackin time I think I might know what I'm doing you gotta throw a comment in there that shatters that :lol:

Didn't TRO say price is the same on all TFs? Argh :!:


Point & Figure, Renko, Range Bars, Kagi; any chart that is formed with horizontal lines is using the "price is the same" idea.

If you simply drop lines on a chart then it is the spacing of the lines that determins the "time frame" or rather the length of time that it takes for price to traverse one line.

If you are using the HI/LO method then the time frame is a compression setting.

The 2xHA is more for simplifying short-term data.
It shows you two versions of the same period and one color can use the other, as if it were a squiggly, for the purpose of close overs.

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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Fri Sep 30, 2016 6:20 pm

Finished the week up nicely. Account stands up 1% overall. Gotta get a bit more space and then start to push. Next week could shape up nice. :-k

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