Libertarians take on trading

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MightyOne
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Postby MightyOne » Sun Jul 06, 2014 5:08 am


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MightyOne
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Postby MightyOne » Sat Aug 02, 2014 5:52 pm

MightyOne wrote:
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The reward goes to those who remain steadfast in their commitment to long term potential.

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Libertarian
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USDCHF

Postby Libertarian » Fri Nov 21, 2014 4:27 pm

USDCHF - Short, trying to catch a big old tiger by the toe. I'm still in this trade because I took it off the daily TF. I know I should be trading the smaller TF's in the direction of my bias but that is beyond my skill level at this point. I should have probably given myself more space, but I was overzealous. A loss means I'm down 25-30% of the risk side of the ledger. Right now its flirting with disaster.
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usdchf-d1-mb-trading-futures.png
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usdchf-d1-mb-trading-futures.png (20.25 KiB) Viewed 626 times
usdchf-d1-mb-trading-futures-2.png
If/then
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MightyOne
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Postby MightyOne » Fri Nov 21, 2014 5:46 pm

lol, what are you doing?

You might make pips like this but you won't make any money.

"I am not skilled enough [to do the right things]" is such a cop-out;
you should be ashamed of yourself.

People say that I speak in riddles, but I ask why sober minds cannot understand simplicity:

Image


If I fail (zero space) I lose ~0.35%
If I succeed I gain >115.5% (330:1)

Failure is IMPOSSIBLE, I just laugh it up and move onto the next idea.

Even if you suck balls you will make a fortune if you just follow basic strategy.

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Libertarian
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Postby Libertarian » Tue Nov 25, 2014 5:03 pm

I closed my trade because after the BDP I was watching closed back higher in the wrong direction. Kind of frustrating because it was so clearly momo into an area I felt would be resistance. But it just kept closing higher.

Line (essentially) is where I closed by position, because I saw the momo move up and I expected it to find support after it wicked the stops that were below line and started closing higher.


I lost 26% of my risk space. Should have had a tighter stop and played my larger bias off the smaller charts.

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Postby Libertarian » Tue Nov 25, 2014 5:14 pm

Here is the current trade. I am trading what I "see" not what what think. Very clear break and retrace of long time support line. I only have .10 lot on this as opposed to the .30 on the last trade. I need to get some space back. Trying to load up space for a longer term trade is the plan and actually ride one of these LONG TERM moves. If/then is a close higher.


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Libertarian
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EURCAD

Postby Libertarian » Thu Nov 27, 2014 3:56 pm

Here is how the EURCAD trade ended up. As you can see from the picture, I expected "something" to be at the breakout of that long time Support level. As marked on the previous chart. So I tried 3 times to get short there. All the time trying to get short from the extreme. I used the 15 min chart for my picture and took the CC off so it would be more clear. I used more than the 15 min chart and the CC in my decision process. All the arrows are where I entered and the lines give you some reasoning behind the entry beyond trying to be short from the extreme. The last two HH are where I exited and the green line is where I exited the final position. The good news is that I still have 60% left of the risk ledger.

Happy Thanksgiving!
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Postby RicG » Fri Nov 28, 2014 12:42 am

Hi Libertarian,

Just wanted to say thanks for sharing your EUR/CAD chart.
I don't follow that pair, but when I saw your post this
morning, I brought it up on my platform and saw a really
nice price action short set-up. Only about a 22 pip scalp,
but still a nice holiday "gift".

I hope you have a great Thanksgiving as well.

Thanks again,
Ric
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(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Mon Dec 01, 2014 1:24 am

I was feeling a little frustrated with my EURCAD trade, but then I saw this. It made me feel better.

Happy to be of service RicG. I discovered this pair the same way :D

EURCADM5.png
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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Sun Dec 14, 2014 6:03 pm

Here is my latest trade. I MADE MONEY! :D :lol: The frustration on this was almost more than all of these previous losers. I think I understand though after reading what a Mr. Pip had to say about clarifying his ideas. "Take a profit" - There is nothing wrong with this and I know from experience, price is going to retrace. Its going to retrace more times than you care to know. Its going to retrace more times than the best TA's can possibly guess. So As long as you take it in the context of the larger move. As long as you use that money, space, room, whatever you want to call it to chase the large move where its in a position to move a F-LOAD then its okay. I kept getting frustrated because I couldn't catch anything on the large chart and I assumed that I needed to do that in order to prove that I could even trade that let alone all the craziness that some (One) does here. Well I think I have it backwards and this trade was a perfect example of how I could have f'd the chart up a little bit and instead sat hoping to catch the huge move. I digress...

Hopefully this chart speaks for itself
gbpchf-h4-mb-trading-futures.png
gbpchf-h4-mb-trading-futures.png (11.06 KiB) Viewed 400 times

Here is the one I was trading. Take my word for it that that first move up was a perfect ZL, its best viewed on a daily. But anyway, if I'd have been good i'd be sitting there raining orders down with MOMO behind me. Since I wasn't I still tried to pick it up a bit later and start working in the direction of a long term move. So I entered at the first green line. I used the small chart (GASP) to help me place the trade a little bit tighter but in the context I was trading. Price moves along just like I wish it always would. Price breaks out. GASP what happens, I was sitting there knowing (with a high degree of confidence I should say in this game) that it was going to bounce at that green line. So I could have very easily hedged and rained another entry there. Then where would I take profit for the new trade? I can see profit so I can see loss. Easy. Price started to move higher and the whole time I'm thinking this is MOMO, but it just went a little higher than I was comfortable with ---WHY WAS I UNCOMFORTABLE? Because I don't have any fing space. THATS WHY. So I can't afford to throw my D%$^ on the table. There in lies the lesson that I have learned and thanks to Capt Pugwash and others for helping in their way to allow me to learn this lesson.
gbpchf-w1-mb-trading-futures.png
gbpchf-w1-mb-trading-futures.png (13.48 KiB) Viewed 400 times

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