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prochargedmopar
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Postby prochargedmopar » Sun Jun 12, 2011 9:55 pm

mook wrote:The best lesson I have learned from trading fx is that no one knows where price is going to go. Every time you make a trade this must be your default.

However...The best way i can describe my trading is viewing the chart from 1 micro area of indecision to another micro area of indecision. It just so happens that a rat always appears when the trade is profitable. :\

If you see it as a range break out then that's what it is. I see it as areas of indecision. I don't know where its gonna go, but if candles start closing above/below these ranges there's a good chance it will continue in go in that direction.

The key is that whatever it is you see (rat, fat cat, range bo, bm) make sure that it is consistant.

This inflection method works all the time. It all depends on how much you want to take. I like to lock in pips, and I will take them as soon as I get them. I don't wait, only because the psyche levels continue to rule... this means that price will trend, reverse, trend, reverse. I want to catch em all, up and down. The buy/sell hold b.s doesn't work for me.

MO: "areas count as lines" ~ This statement should have been made more clear. The phrase 'draw a line' to most people, literally means, draw a line, a single line. That's why these people are gettin fuk'd. In light of this, I will continue to post charts with 2 lines to indicate an 'area'.


The best way i can describe my trading is viewing the chart from 1 micro area of indecision to another micro area of indecision.

I just read "trading by the minute" by Joe Ross. Written in 1990'.....you'd be AMAZED at how much of the stuff on this site is very, very close to what he teaches. Your range trading (areas of indecision) is described crisply and cleanly in that book and how to trade them......ALL time frames work too, just as you stated.
#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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mook
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Postby mook » Mon Jun 13, 2011 3:00 pm

Hey Pro,

Just got back from Avon NC. Almost didn't want to leave. But its back to biz:

I'm interested in reading that book. Thanks for the heads up. It will be interesting to continue with this idea to see where it takes our trading. :idea:

I've had the fortune of speaking with a broker who is interested in adopting this method for multiple pairs. This implies creating a bot. The problem for scalpers playing multiple pairs is getting the lowest spread on the most exotic pairings. I may be granted access to this, if all works out. Again, I am still looking to take 5-10 pips at a time, but the game,(fingers crossed) could be spread across the entire board.

We'll see, I'm still kind of new to this.

** This is the only game I know that allows people to escape the Matrix.

mook
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Postby mook » Mon Jun 13, 2011 9:00 pm

Ok just read it. HAHAHA nice find brother. I found a crappy copy of it online; looks like he typed it out, on a typewriter. And the copy I got looked like someone had scanned it page by page. But the read was worth it.

Summary:

1.He doesn't fine tune the set ups like we do here, but the concepts are all the same.
2. The idea of trading with the trend, and adding more positions based upon the small corrections was enlightening. I will have to make note of it in my trading.
3. Trade off daily hi/lows. We've heard this on Kres time and time again.
4. Ross hook for reversals
5. He calls it Thrust, we use MOMO here
6. The trick is identify areas of 'congestion', and simply trade their breakouts.
7. How bizarre that he trades off the m5. LOL

*** Thanks for the find Pro, I think that had you found this a year ago, this forum would be empty. lol.

mook
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Postby mook » Mon Jun 13, 2011 10:33 pm

Whatcha gonna do??? :) Wicked.
Last edited by mook on Thu Jun 16, 2011 1:14 pm, edited 1 time in total.

mook
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Postby mook » Mon Jun 13, 2011 10:53 pm

Why it works it beyond me :evil:
Last edited by mook on Thu Jun 16, 2011 1:15 pm, edited 1 time in total.

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Postby mook » Mon Jun 13, 2011 11:12 pm

Add or take, do whatever you feel like at this point. Again, I'm in it for the 5-10 tp. \,,/
Last edited by mook on Thu Jun 16, 2011 1:16 pm, edited 2 times in total.

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Postby prochargedmopar » Mon Jun 13, 2011 11:15 pm

mook wrote:Ok just read it. HAHAHA nice find brother. I found a crappy copy of it online; looks like he typed it out, on a typewriter. And the copy I got looked like someone had scanned it page by page. But the read was worth it.

Summary:

1.He doesn't fine tune the set ups like we do here, but the concepts are all the same.
2. The idea of trading with the trend, and adding more positions based upon the small corrections was enlightening. I will have to make note of it in my trading.
3. Trade off daily hi/lows. We've heard this on Kres time and time again.
4. Ross hook for reversals
5. He calls it Thrust, we use MOMO here
6. The trick is identify areas of 'congestion', and simply trade their breakouts.
7. How bizarre that he trades off the m5. LOL

*** Thanks for the find Pro, I think that had you found this a year ago, this forum would be empty. lol.


Ahhh, but in "trading by the minute" he also shows m15/m30 and extensively the M60 time frame trades. He spent most of the first 20-30yrs of his career trading off daily's and weekly charts. I think his very first book "trading by the book" was on position trading.

Today trading from work on my droid x using mt4remote for charts and oanda to enter trades I finally hit. took 8.7, then trailstop, 17.3 then trail stop, 4.6 then trailstop, and last but not least +49.4. Whew, thought it was never gonna get off it's back and run.

http://clip2net.com/s/ZN39

I was using 30m for direction/pullbacks and then using m2 as entry. trigger is a traders trick entry, Ross Hook break, or a break from a range. Those range to range trades look sweet, I've got my eye on em' now.

Here are my charts with Highs/lows(tro_plot) some "red" levels which are basically z-lines, the daily Asian range, which is used and abused reguarly, and then the "squiggly's are lines too" addition.

Image

Notice my entry chart is clean and clear so I can focus on P R I C E.
From the droid you can only view ONE chart at a time.
#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

mook
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Postby mook » Mon Jun 13, 2011 11:29 pm

Dude, did you draw those white range lines? Or is that an indi. Did you short at 424, because it crossed rather than closed below the range?

F'in right brother!! I gotta look into this remote trading. Nicely done!

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Postby prochargedmopar » Tue Jun 14, 2011 1:09 am

I was shorting a break, took 80% out and then let the rest of the position get trail stopped, no biggie, as soon as price told me it wanted to go up I took the long entry and BANKED.

Indy is attached.

Asian range is 23:00gmt (when the market flows start to come alive) to 5:30gmt. You'll have to make some adjustments for your platform time setting. After it is "set" it will paint the lines to trade from for the rest of the day. I dont like the boxes shaded so I set the color to "none".

A note about the "red" lines. I open a monthly and draw 2, then weekly and draw 2-3, then a daily and draw a few more "area's of interest. You can then leave those lines on your chart for months to years. The ones you see above were applied many month's ago. They work FOREVER.
Attachments
DailyLinesBoxes.mq4
DailyLinesBoxes
(73.56 KiB) Downloaded 40 times
#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

mook
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Postby mook » Tue Jun 14, 2011 4:00 am

You da man! thanks, I'm gonna have to try this!

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