Libertarians take on trading

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MightyOne
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Re: Libertarians take on trading

Postby MightyOne » Thu Jun 02, 2016 3:24 pm

Libertarian wrote:
I'm just going to put this here, it was a small loss, but it appears I've missed the move. As you can see previously I took two cracks at getting long the EN expecting a big move back to the highs. When of course when the real move happens I jump out of my position because I'm a pussy. My thinking was it would return to the previous wick and shake some people out. In my attempt to understand more fully bodies and wicks I saw a 1hr close over something and I thought that was great, but then I saw a 1hr close below something right at resistance and I closed my position. Of course it turned right back around. It was also under my pivot I drew and I was expecting a continuation pattern to enter. It was there, but it was on the 1hr and I was sleeping. So all in all a FML.

*I also had the position open at 5 ET so I got hit with triple swap :D


Dmn-it lucas, it is not that hard :lol:

1) Circle breakouts/fast moves
2) draw a line that connects the congestion and at the area where the circled moves originated.
3) repeat step 1.

Once you have an idea, you neatly wrap it in a trading plan complete with proper position sizing and money management.

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Re: Libertarians take on trading

Postby Libertarian » Thu Jun 02, 2016 11:55 pm

MightyOne wrote:
Libertarian wrote:
I'm just going to put this here, it was a small loss, but it appears I've missed the move. As you can see previously I took two cracks at getting long the EN expecting a big move back to the highs. When of course when the real move happens I jump out of my position because I'm a pussy. My thinking was it would return to the previous wick and shake some people out. In my attempt to understand more fully bodies and wicks I saw a 1hr close over something and I thought that was great, but then I saw a 1hr close below something right at resistance and I closed my position. Of course it turned right back around. It was also under my pivot I drew and I was expecting a continuation pattern to enter. It was there, but it was on the 1hr and I was sleeping. So all in all a FML.

*I also had the position open at 5 ET so I got hit with triple swap :D


Dmn-it lucas, it is not that hard :lol:

1) Circle breakouts/fast moves
2) draw a line that connects the congestion and at the area where the circled moves originated.
3) repeat step 1.

Once you have an idea, you neatly wrap it in a trading plan complete with proper position sizing and money management.

for_lucas.png


Lucas, who's that, (your going to blow my cover) :shock: :D

I wish it really were not that hard. I appreciate the picture, I'll try to duplicate. As you said, once I have an idea, that idea is horizontal lines and I have been told that is all you need to trade, That and bodies and wicks. I'm trying to make them work, something I can point to that says, hey look, your a currency trader because you can actually make money trading. Once I can wrap that up into something, I'll hopefully be able to get better and add something. But we've known each other a LONG time now and it hasn't up until this point. My fault, I need to fix it.

That being said your help is always appreciated :P

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Re: Libertarians take on trading

Postby MightyOne » Fri Jun 03, 2016 1:59 am

Libertarian wrote:
Lucas, who's that, (your going to blow my cover) :shock: :D

I wish it really were not that hard. I appreciate the picture, I'll try to duplicate. As you said, once I have an idea, that idea is horizontal lines and I have been told that is all you need to trade, That and bodies and wicks. I'm trying to make them work, something I can point to that says, hey look, you're a currency trader because you can actually make money trading. Once I can wrap that up into something, I'll hopefully be able to get better and add something. But we've known each other a LONG time now and it hasn't up until this point. My fault, I need to fix it.

That being said your help is always appreciated :P


I wasn't even thinking, it didn't even enter my mind that the post was on a public forum; I see a post and I respond to the person, everyone else be dmned ;)

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Re: Libertarians take on trading

Postby MightyOne » Fri Jun 03, 2016 6:04 pm

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Re: Libertarians take on trading

Postby Libertarian » Tue Jun 07, 2016 12:24 am

MightyOne wrote:for_rPaul.png


Damn MO, that is a sick picture. =P~ 8)

The extremes make perfect sense because of the H Reardon quote you and TRO always throw around, but the rest I'm :smt102 ? Its not the opens and closes. Edit...Midpoints? Just bias your direction to trade in based on where the candle closes vs previous? Kind of like the original 1/3rd dots idea. Anything for a bias to trade the smaller chart in

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Re: Libertarians take on trading

Postby Libertarian » Sat Jun 11, 2016 3:27 pm

So I have been going thru and doing a lot of reading from the beginning and really been clarifying some ideas that for whatever reason, I didn't understand well before. So I plan to continue that and just start like I'm new here. I know it will help me in the long run. That being said it was a poor week (weak :D ). I tried to mix in a few classic ZL trades that everyone here makes look so easy and one continuation of my long term Ins Ind type trading. Here is what I did.

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This was my setup for the first trade. It was a nice BDP, and I thought they would come back and zero everyone out. It was below the line I marked as significant. Lets get short. On the dotted line Candle.

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This was what made me get short. Nice 5 min candle, closed lower than something, There was held profit there. Closed above ZL immediately, very small loss.

ej15.png
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I then jump in and said if its not going lower its going higher :mrgreen: nice little BDP, but I chickened out because the above 1hr BDP and what I thought was Wick Doll was still intact and hadn't closed higher, so I said I should get out. At this time I also started to realize Tradeking isn't MB trading and their spreads on limit orders are ATROCIOUS, double+ on EJ, so that makes it tough on a scalper. More on this later.

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Again, I entered this because the higher (1hr/4hr) hadn't closed against me and I thought I should be short, its dumb to be long and trading against the higher TF, Got a BDP/held profit and thought we'd wick that and move lower (green line), I was wrong it went higher and my exit was terrible. But still only 12 pips+ the atrocious spread.

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So at this point the 4hr had closed higher (and obviously the 1hr had closed beyond my original BDP) So I shifted my bias long.

ej152.png
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Again, saw what I thought was held profit and had a higher TF close in my direction. Got long. Was wrong. The exit was much better and tighter though. Almost no loss. (except for this MFing spread)

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Last one I promise :lol: I thought I just throw this out there. The 4hr had closed back in and I saw this setup and put a limit order (aka a screw job order) on the Green ZL. Never got filled and price raced away. #-o Dont you hate when that happens.

So that is the end of this sequence, pretty ugly. At this point I was fuming at Tradeking and the Dodd-Frank act for putting US retail forex customers in such a big brother screw job. We are literally on the can't do business list for most of these brokers with North Korea and Iran? Are you kidding me. So I will close with this thread I found for all my 'merican friends. There are brokers out there who have been vetted and who will stand up to the big bad wolf and give you a decent fill.

http://forums.babypips.com/forex-brokers/36221-going-offshore-escape-cftc.html

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Re: Libertarians take on trading

Postby roctao » Sat Jun 11, 2016 5:54 pm

My belief is that had you stayed a "red rat" your last trade would had been a very good trade. the fact that you changed teams mid game caused the doubt that left you unwilling to grab that last trade by the balls for potentially a 5 :1 win.
stay on one side or another and before you take the field make sure you have your plays mapped out

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Re: Libertarians take on trading

Postby aliassmith » Sat Jun 11, 2016 6:15 pm

"Last one I promise I thought I just throw this out there. The 4hr had closed back in and I saw this setup and put a limit order (aka a screw job order) on the Green ZL. Never got filled and price raced away. Dont you hate when that happens."


Use multiple orders at different entries...such as 50% and the actual zline.
Trade Your Way as Long as It Makes Money!

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Re: Libertarians take on trading

Postby Libertarian » Sat Jun 11, 2016 7:05 pm

roctao wrote:My belief is that had you stayed a "red rat" your last trade would had been a very good trade. the fact that you changed teams mid game caused the doubt that left you unwilling to grab that last trade by the balls for potentially a 5 :1 win.
stay on one side or another and before you take the field make sure you have your plays mapped out


Thank for your input roctao, much appreciated. I have been working on trading what I see and not what I think, and that is why with the higher TF candle close changed from Red rat to green rat. If all we have are bodies and wicks, this would have been the opposite. Although, I have been noticing that this may be the case, where price puts people in profit and then moves beyond the body and then the real move starts. How do you manage you ratness? :lol:

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Re: Libertarians take on trading

Postby Libertarian » Sat Jun 11, 2016 7:06 pm

aliassmith wrote:"Last one I promise I thought I just throw this out there. The 4hr had closed back in and I saw this setup and put a limit order (aka a screw job order) on the Green ZL. Never got filled and price raced away. Dont you hate when that happens."


Use multiple orders at different entries...such as 50% and the actual zline.


Makes perfect sense. Appreciate your input Alias.

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