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aliassmith
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Postby aliassmith » Fri Apr 02, 2010 4:32 am

MightyOne wrote:
prochargedmopar wrote:Ok,

Yes, I take FX with me every where I go, (even on vacation and get in trouble for it) but once I become consistent I'm sure I'll feel the same way that 99.2% of all the successful traders do, Set and forget.

No damage in asking I hope.

On a side note:
The way you described your entries with your friend on the M1 chart and in such detail it's hard to believe that it could be watered down at all.

Remember the "real" move thing and how you calculated your stops and targets?

That seemed pretty precise to me, I may have to revisit it on demo so I can actually let the trades develop after entry instead of trading P/L column.

Kinda like the last trade of today. A darkslateblue rat that I let run while sleeping. I wake up 6hrs later to +30. I Never would have gotten 30 out of that trade while staring at the chart.

Image


What you do not get is that I had to create different systems and strategies for you guys to grasp A LESSON on trading.

Once you understand the lesson you do not need the system because the system was purely academic.


I learned a lot of things from you MightyOne, but could you tell me what
specific "LESSON" you are referring.

I like price moves from entries to exits and back to entries.
or Jab Jab Jab Knock out
or If price closes beyond a point you consider S/D then something is
WRONG
or The Large timeframe Charts have more strength than the short ones.
or Trading is really a poker game
etc. etc. :)
Trade Your Way as Long as It Makes Money!

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MightyOne
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Postby MightyOne » Fri Apr 02, 2010 6:51 am

aliassmith wrote:
MightyOne wrote:
prochargedmopar wrote:Ok,

Yes, I take FX with me every where I go, (even on vacation and get in trouble for it) but once I become consistent I'm sure I'll feel the same way that 99.2% of all the successful traders do, Set and forget.

No damage in asking I hope.

On a side note:
The way you described your entries with your friend on the M1 chart and in such detail it's hard to believe that it could be watered down at all.

Remember the "real" move thing and how you calculated your stops and targets?

That seemed pretty precise to me, I may have to revisit it on demo so I can actually let the trades develop after entry instead of trading P/L column.

Kinda like the last trade of today. A darkslateblue rat that I let run while sleeping. I wake up 6hrs later to +30. I Never would have gotten 30 out of that trade while staring at the chart.

Image


What you do not get is that I had to create different systems and strategies for you guys to grasp A LESSON on trading.

Once you understand the lesson you do not need the system because the system was purely academic.


I learned a lot of things from you MightyOne, but could you tell me what
specific "LESSON" you are referring.

I like price moves from entries to exits and back to entries.
or Jab Jab Jab Knock out
or If price closes beyond a point you consider S/D then something is
WRONG
or The Large timeframe Charts have more strength than the short ones.
or Trading is really a poker game
etc. etc. :)


There are many lessons...

The 3 most important would be:

1. Use JUST ENOUGH leverage to add a single ZERO to the end of your account by year end using MONTHLY compound returns.

Divide 212 pips by the number of pips you are able to collect each month:

If I bring in 150 pips per month then I will need to use 14 to 1 leverage.

If I bring in 450 pips per month then I will need to use 5 to 1 leverage.

85 pips per month / 25 to 1 leverage

If I have Jedi skills and make 1,000 pips per month then I only need 3 to 1 leverage.

If you want to get some where fast and with little draw down then it will not be by way of leverage but by taking down the pips.

If you ignore this then you will remain just where you are year after year until you decide to stop PLAYING the market.

2. PLAN YOUR TRADE AND TRADE YOUR PLAN. When you are done with that trade then PLAN YOUR NEXT TRADE AND TRADE YOUR PLAN.

If you know where you are going then you will always make it to where you are trying to get.

3. Observe, Absorb, Apply!

Robots make better robots than you could ever hope to be.

USE WHAT IS BETWEEN YOUR EARS!

aliassmith
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Postby aliassmith » Fri Apr 02, 2010 1:02 pm

MightyOne wrote:
aliassmith wrote:
MightyOne wrote:
prochargedmopar wrote:Ok,

Yes, I take FX with me every where I go, (even on vacation and get in trouble for it) but once I become consistent I'm sure I'll feel the same way that 99.2% of all the successful traders do, Set and forget.

No damage in asking I hope.

On a side note:
The way you described your entries with your friend on the M1 chart and in such detail it's hard to believe that it could be watered down at all.

Remember the "real" move thing and how you calculated your stops and targets?

That seemed pretty precise to me, I may have to revisit it on demo so I can actually let the trades develop after entry instead of trading P/L column.

Kinda like the last trade of today. A darkslateblue rat that I let run while sleeping. I wake up 6hrs later to +30. I Never would have gotten 30 out of that trade while staring at the chart.

Image


What you do not get is that I had to create different systems and strategies for you guys to grasp A LESSON on trading.

Once you understand the lesson you do not need the system because the system was purely academic.


I learned a lot of things from you MightyOne, but could you tell me what
specific "LESSON" you are referring.

I like price moves from entries to exits and back to entries.
or Jab Jab Jab Knock out
or If price closes beyond a point you consider S/D then something is
WRONG
or The Large timeframe Charts have more strength than the short ones.
or Trading is really a poker game
etc. etc. :)


There are many lessons...

The 3 most important would be:

1. Use JUST ENOUGH leverage to add a single ZERO to the end of your account by year end using MONTHLY compound returns.

Divide 212 pips by the number of pips you are able to collect each month:

If I bring in 150 pips per month then I will need to use 14 to 1 leverage.

If I bring in 450 pips per month then I will need to use 5 to 1 leverage.

85 pips per month / 25 to 1 leverage

If I have Jedi skills and make 1,000 pips per month then I only need 3 to 1 leverage.

If you want to get some where fast and with little draw down then it will not be by way of leverage but by taking down the pips.

If you ignore this then you will remain just where you are year after year until you decide to stop PLAYING the market.

2. PLAN YOUR TRADE AND TRADE YOUR PLAN. When you are done with that trade then PLAN YOUR NEXT TRADE AND TRADE YOUR PLAN.

If you know where you are going then you will always make it to where you are trying to get.

3. Observe, Absorb, Apply!

Robots make better robots than you could ever hope to be.

USE WHAT IS BETWEEN YOUR EARS!


I understand what you are saying except
"Divide 212 pips by the number of pips you are able to collect each month"

If I expect to make 250 pips a month then 212/250 = .0845 I don't
see what that number would represent. Nevermind I see 11 to 1 leverage

I want my 250 pips to equal 25% a month so I want 10 pips to equal 1%.
As I get better I will probably leave my risk at 10 pips equals 1%.

I like to add a ZERO after taxes :)
Trade Your Way as Long as It Makes Money!

User avatar
MightyOne
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Postby MightyOne » Fri Apr 02, 2010 4:39 pm

aliassmith wrote:
MightyOne wrote:
aliassmith wrote:
MightyOne wrote:
prochargedmopar wrote:Ok,

Yes, I take FX with me every where I go, (even on vacation and get in trouble for it) but once I become consistent I'm sure I'll feel the same way that 99.2% of all the successful traders do, Set and forget.

No damage in asking I hope.

On a side note:
The way you described your entries with your friend on the M1 chart and in such detail it's hard to believe that it could be watered down at all.

Remember the "real" move thing and how you calculated your stops and targets?

That seemed pretty precise to me, I may have to revisit it on demo so I can actually let the trades develop after entry instead of trading P/L column.

Kinda like the last trade of today. A darkslateblue rat that I let run while sleeping. I wake up 6hrs later to +30. I Never would have gotten 30 out of that trade while staring at the chart.

Image


What you do not get is that I had to create different systems and strategies for you guys to grasp A LESSON on trading.

Once you understand the lesson you do not need the system because the system was purely academic.


I learned a lot of things from you MightyOne, but could you tell me what
specific "LESSON" you are referring.

I like price moves from entries to exits and back to entries.
or Jab Jab Jab Knock out
or If price closes beyond a point you consider S/D then something is
WRONG
or The Large timeframe Charts have more strength than the short ones.
or Trading is really a poker game
etc. etc. :)


There are many lessons...

The 3 most important would be:

1. Use JUST ENOUGH leverage to add a single ZERO to the end of your account by year end using MONTHLY compound returns.

Divide 212 pips by the number of pips you are able to collect each month:

If I bring in 150 pips per month then I will need to use 14 to 1 leverage.

If I bring in 450 pips per month then I will need to use 5 to 1 leverage.

85 pips per month / 25 to 1 leverage

If I have Jedi skills and make 1,000 pips per month then I only need 3 to 1 leverage.

If you want to get some where fast and with little draw down then it will not be by way of leverage but by taking down the pips.

If you ignore this then you will remain just where you are year after year until you decide to stop PLAYING the market.

2. PLAN YOUR TRADE AND TRADE YOUR PLAN. When you are done with that trade then PLAN YOUR NEXT TRADE AND TRADE YOUR PLAN.

If you know where you are going then you will always make it to where you are trying to get.

3. Observe, Absorb, Apply!

Robots make better robots than you could ever hope to be.

USE WHAT IS BETWEEN YOUR EARS!


I understand what you are saying except
"Divide 212 pips by the number of pips you are able to collect each month"

If I expect to make 250 pips a month then 212/250 = .0845 I don't
see what that number would represent. Nevermind I see 11 to 1 leverage

I want my 250 pips to equal 25% a month so I want 10 pips to equal 1%.
As I get better I will probably leave my risk at 10 pips equals 1%.

I like to add a ZERO after taxes :)


212 pips/month is 21.2% compound returns at 10 to 1 leverage.

212 divided by 250 is ~$0.85 which is 9 micro lots per thousand err 9 to 1 leverage.

If you are shooting for 21.2% and happen to hit 28.4% then you will make 20 to 1 at year end (covering your taxes).

Again, it is not exactly what I say that matters but the lesson within.

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prochargedmopar
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Postby prochargedmopar » Fri Apr 02, 2010 11:07 pm

MightyOne wrote:
prochargedmopar wrote:Ok,

Yes, I take FX with me every where I go, (even on vacation and get in trouble for it) but once I become consistent I'm sure I'll feel the same way that 99.2% of all the successful traders do, Set and forget.

No damage in asking I hope.

On a side note:
The way you described your entries with your friend on the M1 chart and in such detail it's hard to believe that it could be watered down at all.

Remember the "real" move thing and how you calculated your stops and targets?

That seemed pretty precise to me, I may have to revisit it on demo so I can actually let the trades develop after entry instead of trading P/L column.

Kinda like the last trade of today. A darkslateblue rat that I let run while sleeping. I wake up 6hrs later to +30. I Never would have gotten 30 out of that trade while staring at the chart.

Image


What you do not get is that I had to create different systems and strategies for you guys to grasp A LESSON on trading.

Once you understand the lesson you do not need the system because the system was purely academic.


YES,

I DO GET IT,
I've bragged on your ability to teach the SAME thing a 100 different ways.
I respect that ability and the effort you have put forth.
#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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MightyOne
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Postby MightyOne » Sat Apr 03, 2010 9:12 am

prochargedmopar wrote:
MightyOne wrote:
prochargedmopar wrote:Ok,

Yes, I take FX with me every where I go, (even on vacation and get in trouble for it) but once I become consistent I'm sure I'll feel the same way that 99.2% of all the successful traders do, Set and forget.

No damage in asking I hope.

On a side note:
The way you described your entries with your friend on the M1 chart and in such detail it's hard to believe that it could be watered down at all.

Remember the "real" move thing and how you calculated your stops and targets?

That seemed pretty precise to me, I may have to revisit it on demo so I can actually let the trades develop after entry instead of trading P/L column.

Kinda like the last trade of today. A darkslateblue rat that I let run while sleeping. I wake up 6hrs later to +30. I Never would have gotten 30 out of that trade while staring at the chart.

Image


What you do not get is that I had to create different systems and strategies for you guys to grasp A LESSON on trading.

Once you understand the lesson you do not need the system because the system was purely academic.


YES,

I DO GET IT,
I've bragged on your ability to teach the SAME thing a 100 different ways.
I respect that ability and the effort you have put forth.


I have love for you PRO :wink:

The only thing that is irritating is the thought of you spending the next several years figuring things out instead of retiring.

A steady hand finds its target, a shaky hand cuts an artery.

aliassmith
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Postby aliassmith » Sat Apr 03, 2010 1:14 pm

MightyOne wrote:
aliassmith wrote:
MightyOne wrote:
aliassmith wrote:
MightyOne wrote:
prochargedmopar wrote:Ok,

Yes, I take FX with me every where I go, (even on vacation and get in trouble for it) but once I become consistent I'm sure I'll feel the same way that 99.2% of all the successful traders do, Set and forget.

No damage in asking I hope.

On a side note:
The way you described your entries with your friend on the M1 chart and in such detail it's hard to believe that it could be watered down at all.

Remember the "real" move thing and how you calculated your stops and targets?

That seemed pretty precise to me, I may have to revisit it on demo so I can actually let the trades develop after entry instead of trading P/L column.

Kinda like the last trade of today. A darkslateblue rat that I let run while sleeping. I wake up 6hrs later to +30. I Never would have gotten 30 out of that trade while staring at the chart.

Image


What you do not get is that I had to create different systems and strategies for you guys to grasp A LESSON on trading.

Once you understand the lesson you do not need the system because the system was purely academic.


I learned a lot of things from you MightyOne, but could you tell me what
specific "LESSON" you are referring.

I like price moves from entries to exits and back to entries.
or Jab Jab Jab Knock out
or If price closes beyond a point you consider S/D then something is
WRONG
or The Large timeframe Charts have more strength than the short ones.
or Trading is really a poker game
etc. etc. :)


There are many lessons...

The 3 most important would be:

1. Use JUST ENOUGH leverage to add a single ZERO to the end of your account by year end using MONTHLY compound returns.

Divide 212 pips by the number of pips you are able to collect each month:

If I bring in 150 pips per month then I will need to use 14 to 1 leverage.

If I bring in 450 pips per month then I will need to use 5 to 1 leverage.

85 pips per month / 25 to 1 leverage

If I have Jedi skills and make 1,000 pips per month then I only need 3 to 1 leverage.

If you want to get some where fast and with little draw down then it will not be by way of leverage but by taking down the pips.

If you ignore this then you will remain just where you are year after year until you decide to stop PLAYING the market.

2. PLAN YOUR TRADE AND TRADE YOUR PLAN. When you are done with that trade then PLAN YOUR NEXT TRADE AND TRADE YOUR PLAN.

If you know where you are going then you will always make it to where you are trying to get.

3. Observe, Absorb, Apply!

Robots make better robots than you could ever hope to be.

USE WHAT IS BETWEEN YOUR EARS!


I understand what you are saying except
"Divide 212 pips by the number of pips you are able to collect each month"

If I expect to make 250 pips a month then 212/250 = .0845 I don't
see what that number would represent. Nevermind I see 11 to 1 leverage

I want my 250 pips to equal 25% a month so I want 10 pips to equal 1%.
As I get better I will probably leave my risk at 10 pips equals 1%.

I like to add a ZERO after taxes :)


212 pips/month is 21.2% compound returns at 10 to 1 leverage.

212 divided by 250 is ~$0.85 which is 9 micro lots per thousand err 9 to 1 leverage.

If you are shooting for 21.2% and happen to hit 28.4% then you will make 20 to 1 at year end (covering your taxes).

Again, it is not exactly what I say that matters but the lesson within.


I understand your lesson.

One day it seems that most of your lessons that have been rattling
around in my head aligned and made sense. The application of the lessons
are not the same as "your style", but I have a style now that I have always
been searching for and found.

As I get older and have a bank roll I am satisfied with I will probably
move to long term trading such as you do. At that point multiplying my account by 4 or 5 a year would be acceptable. 8) I am not greedy
$1,000,000 a year is fine. 8)
Trade Your Way as Long as It Makes Money!

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TygerKrane
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Postby TygerKrane » Sun Apr 04, 2010 2:41 am

Sitting in front of a computer for 14 hours a day is not play time PRO.


Hi Mighty One,
How much time do you spend on the computer when you actively trade? I ask because it looks like you mostly trade off of the 4hr charts. Do you set price alerts near your ZL's & Mighty Zones, return to your computer when the alerts are activated and then Set It and Forget It??
Or do you use limit orders that automatically set your stop loss when triggered??

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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newschool
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Postby newschool » Sun Apr 04, 2010 6:28 pm

MightyOne wrote:
A steady hand finds its target, a shaky hand cuts an artery.


I dont remember where I have heard this (maybe a film?), but it goes like :

Rattling around or doing nothing is a decision, the worst one you can make.

Instead, make a choice, and if you are wrong, just make another decision.

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MightyOne
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Postby MightyOne » Sun Apr 04, 2010 8:14 pm

TygerKrane wrote:
Sitting in front of a computer for 14 hours a day is not play time PRO.


Hi Mighty One,
How much time do you spend on the computer when you actively trade? I ask because it looks like you mostly trade off of the 4hr charts. Do you set price alerts near your ZL's & Mighty Zones, return to your computer when the alerts are activated and then Set It and Forget It??
Or do you use limit orders that automatically set your stop loss when triggered??


I spend just about all day and all night within sight of a monitor.

I do not trade off of 4H charts E-V-E-R-!

I trade days, weeks, months, and years.

I do not have a stop loss, just a maximum weekly loss.

I do not use Mighty Zone or the Zero Lines within.

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