Never Lose Again

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
ajaymein
rank: 500+ posts
rank: 500+ posts
Posts: 885
Joined: Sun Nov 09, 2008 6:34 am
Reputation: 0
Gender: None specified

Postby ajaymein » Sun Jan 25, 2009 6:08 pm

razorboy wrote:Much thanks

One more silly question - B/S stop? is that a break even stop?

MightyOne wrote:The only reason I show you lines at all is that you may learn to see.

There is a reason why I don't show you every thing all at once; you would all follow the methods mindlessly.

I want traders to take the concepts I present to them and ask them selves how, when, why, & where.
I want to see traders that are impossible to fade because their eyes
are razor sharp when it comes to seeing what is happening now and who have fingers that craft strategies on the fly that combat the mechanical nature of the other traders.

Lines are what they are

Wicks are what they are

Check marks are what they are

What do you see?

I could tell you the sun is rising and I could tell you the sun is falling :roll: LOOK UP!

I could say the line is here and I could say the line is there, but what then when I say that there are no lines?

There is only that which is formulated in the mind and brought into existence by your own hands.

Picture a TV without channels and it is just hissing and displaying black and gray squares.
This is how you should sit down in front of your charts.

There are no methods or lines or secrets
There is no rhyme or reason
There is only what you are moved to do

That said I leave you with this since you asked so kindly :oops: :

Image


I think that means Buy/Sell Stop Order.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sun Jan 25, 2009 7:37 pm

razorboy wrote:Much thanks

One more silly question - B/S stop? is that a break even stop?

MightyOne wrote:The only reason I show you lines at all is that you may learn to see.

There is a reason why I don't show you every thing all at once; you would all follow the methods mindlessly.

I want traders to take the concepts I present to them and ask them selves how, when, why, & where.
I want to see traders that are impossible to fade because their eyes
are razor sharp when it comes to seeing what is happening now and who have fingers that craft strategies on the fly that combat the mechanical nature of the other traders.

Lines are what they are

Wicks are what they are

Check marks are what they are

What do you see?

I could tell you the sun is rising and I could tell you the sun is falling :roll: LOOK UP!

I could say the line is here and I could say the line is there, but what then when I say that there are no lines?

There is only that which is formulated in the mind and brought into existence by your own hands.

Picture a TV without channels and it is just hissing and displaying black and gray squares.
This is how you should sit down in front of your charts.

There are no methods or lines or secrets
There is no rhyme or reason
There is only what you are moved to do

That said I leave you with this since you asked so kindly :oops: :

Image


Lol, you are purposely trying to push me over the edge...

That is crazy talk!

Try again...

blud72
rank: <50 posts
rank: <50 posts
Posts: 7
Joined: Sun Jan 20, 2008 1:33 am
Reputation: 0
Gender: Male
Contact:

Postby blud72 » Sun Jan 25, 2009 7:38 pm

Image

Hello all,

I wanted to add my voice to the discussion and to give kudos to both Avery and MightyOne for the intelligent and profitable help you have provided everyone here.

I have traded stocks for the last decade and followed the muddy method and TRO's discussions for years. I am a recent convert to forex (the past year and only after reading a post about Avery moving to forex trading) but already playing this has surpassed my wildest expectations. Equities just don't cut it for me anymore and I enjoy pips like I enjoy life.

Probably the information that has served me the best besides this forum is learning about candles with Steve Nison in his candlestick trading dvd that specifically focuses on forex. Candles are pure price action and they tell you exactly what the market is doing at all times and how price reacts to zero lines. No need for the silly indicators that used to get me in trouble. Now it is common sense and understanding along with solid money management.

I thought I would post a screen capture of Friday afternoon's trade action that I took part in. This was an exercise to show my father and younger brother that trading can occur at any time, even into the close of the forex. They are currently learning to trade in this fashion, what MightyOne refers to as "discretionary trading." If anyone wants to know... I use a program called Teamviewer to show them over the computer how to trade and conference call using our phones. Beautiful (and free) program to use...check it out.

Again, thanks for an engaging discussion and I hope to help contribute my 2 cents in order to help others become profitable and stress free trading currencies. Also a thanks to Dragon for the trade management method that Avery coded. Took the account to the moon.

:P

User avatar
ajaymein
rank: 500+ posts
rank: 500+ posts
Posts: 885
Joined: Sun Nov 09, 2008 6:34 am
Reputation: 0
Gender: None specified

Postby ajaymein » Sun Jan 25, 2009 7:57 pm

blud72 wrote:Image

Hello all,

I wanted to add my voice to the discussion and to give kudos to both Avery and MightyOne for the intelligent and profitable help you have provided everyone here.

I have traded stocks for the last decade and followed the muddy method and TRO's discussions for years. I am a recent convert to forex (the past year and only after reading a post about Avery moving to forex trading) but already playing this has surpassed my wildest expectations. Equities just don't cut it for me anymore and I enjoy pips like I enjoy life.

Probably the information that has served me the best besides this forum is learning about candles with Steve Nison in his candlestick trading dvd that specifically focuses on forex. Candles are pure price action and they tell you exactly what the market is doing at all times and how price reacts to zero lines. No need for the silly indicators that used to get me in trouble. Now it is common sense and understanding along with solid money management.

I thought I would post a screen capture of Friday afternoon's trade action that I took part in. This was an exercise to show my father and younger brother that trading can occur at any time, even into the close of the forex. They are currently learning to trade in this fashion, what MightyOne refers to as "discretionary trading." If anyone wants to know... I use a program called Teamviewer to show them over the computer how to trade and conference call using our phones. Beautiful (and free) program to use...check it out.

Again, thanks for an engaging discussion and I hope to help contribute my 2 cents in order to help others become profitable and stress free trading currencies. Also a thanks to Dragon for the trade management method that Avery coded. Took the account to the moon.

:P


A question for you blud72:

When do you draw your ZLs and how long is a ZL valid?

IE. Do you draw your ZL as soon as there is a breakout or do you wait until price comes down and "wicks" the ZL to confirm that it is indeed a ZL? J/w because I see a few places 25 or so candles after the last ZL where I could picture a ZL being...but you haven't drawn it yet.

Oh yea, and do you ALWAYS place your Buy Limit orders as soon as a ZL is established? If you do, wouldn't this eventually incur a loss since price isn't always going to continue upwards and retrace to a ZL and continue upwards...it will take a turn down eventually...

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sun Jan 25, 2009 8:03 pm

blud72 wrote:Image

Hello all,

I wanted to add my voice to the discussion and to give kudos to both Avery and MightyOne for the intelligent and profitable help you have provided everyone here.

I have traded stocks for the last decade and followed the muddy method and TRO's discussions for years. I am a recent convert to forex (the past year and only after reading a post about Avery moving to forex trading) but already playing this has surpassed my wildest expectations. Equities just don't cut it for me anymore and I enjoy pips like I enjoy life.

Probably the information that has served me the best besides this forum is learning about candles with Steve Nison in his candlestick trading dvd that specifically focuses on forex. Candles are pure price action and they tell you exactly what the market is doing at all times and how price reacts to zero lines. No need for the silly indicators that used to get me in trouble. Now it is common sense and understanding along with solid money management.

I thought I would post a screen capture of Friday afternoon's trade action that I took part in. This was an exercise to show my father and younger brother that trading can occur at any time, even into the close of the forex. They are currently learning to trade in this fashion, what MightyOne refers to as "discretionary trading." If anyone wants to know... I use a program called Teamviewer to show them over the computer how to trade and conference call using our phones. Beautiful (and free) program to use...check it out.

Again, thanks for an engaging discussion and I hope to help contribute my 2 cents in order to help others become profitable and stress free trading currencies. Also a thanks to Dragon for the trade management method that Avery coded. Took the account to the moon.

:P


Image

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
ajaymein
rank: 500+ posts
rank: 500+ posts
Posts: 885
Joined: Sun Nov 09, 2008 6:34 am
Reputation: 0
Gender: None specified

Postby ajaymein » Sun Jan 25, 2009 8:09 pm

MightyOne wrote:
blud72 wrote:Image

Hello all,

I wanted to add my voice to the discussion and to give kudos to both Avery and MightyOne for the intelligent and profitable help you have provided everyone here.

I have traded stocks for the last decade and followed the muddy method and TRO's discussions for years. I am a recent convert to forex (the past year and only after reading a post about Avery moving to forex trading) but already playing this has surpassed my wildest expectations. Equities just don't cut it for me anymore and I enjoy pips like I enjoy life.

Probably the information that has served me the best besides this forum is learning about candles with Steve Nison in his candlestick trading dvd that specifically focuses on forex. Candles are pure price action and they tell you exactly what the market is doing at all times and how price reacts to zero lines. No need for the silly indicators that used to get me in trouble. Now it is common sense and understanding along with solid money management.

I thought I would post a screen capture of Friday afternoon's trade action that I took part in. This was an exercise to show my father and younger brother that trading can occur at any time, even into the close of the forex. They are currently learning to trade in this fashion, what MightyOne refers to as "discretionary trading." If anyone wants to know... I use a program called Teamviewer to show them over the computer how to trade and conference call using our phones. Beautiful (and free) program to use...check it out.

Again, thanks for an engaging discussion and I hope to help contribute my 2 cents in order to help others become profitable and stress free trading currencies. Also a thanks to Dragon for the trade management method that Avery coded. Took the account to the moon.

:P


Image


MO,

Another question (sorry if I'm badgering you, just trying to fully understand the concepts so I can SEE!):

When you look for bodies in the direction of profit and wicks in the direction of loss...do they have to be in any specific order? Like can a ZL form, and then a wick in the direction of loss, and 2 candles later a body in the direction of profit so we take the trade short/long? Or do you look for a specific order and they have to be one after the other?

User avatar
prochargedmopar
rank: 5000+ posts
rank: 5000+ posts
Posts: 5544
Joined: Sat Dec 20, 2008 6:07 am
Reputation: 8
Location: Granbury, TX
Gender: Male
Contact:

Postby prochargedmopar » Sun Jan 25, 2009 8:51 pm

Thanks for all the questions razor and ajay. Saves me from asking. ;)
#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

User avatar
ajaymein
rank: 500+ posts
rank: 500+ posts
Posts: 885
Joined: Sun Nov 09, 2008 6:34 am
Reputation: 0
Gender: None specified

Postby ajaymein » Sun Jan 25, 2009 9:08 pm

prochargedmopar wrote:Thanks for all the questions razor and ajay. Saves me from asking. ;)


:D

blud72
rank: <50 posts
rank: <50 posts
Posts: 7
Joined: Sun Jan 20, 2008 1:33 am
Reputation: 0
Gender: Male
Contact:

Postby blud72 » Sun Jan 25, 2009 9:18 pm

Hey Ajaymein,

I guess I should clarify my ZL's. First of all, you are right...I don't have them all marked. Would have gotten too cluttered if I continued to draw them. Second of all...not sure if what I draw can be truly considered zl's...not sure what they could be called but horizontal line could do in a pinch :lol:

Oh yea, and do you ALWAYS place your Buy Limit orders as soon as a ZL is established? If you do, wouldn't this eventually incur a loss since price isn't always going to continue upwards and retrace to a ZL and continue upwards...it will take a turn down eventually...

I actually wait for price to go back up above these zl's since I am looking for a bounce downwards into my waiting order. So I draw the line first then let it do its thing, drink beer, look at other charts, etc. Then as I get a candle going up above the zl, I will put order in. Remember, in this particular pic that I showed....I only cared to look for opportunities to go long...

I guess the best thing I can do is to continue to post pics of my trades as they occur then we can pick em apart. Like MightyOne says, sometimes it is hard to put into words how one sees the charts...I know I have plenty of friends who groan and put their heads in their hands when I place a trade due to the fact that they only trade in buy or sell stops...not limits. All I know is that it works and I see the price action in my own way. I, for the life of me, never seem to do well with placing buy and sell stops to enter an order. Seems wrong because of the way I visualize and interpret the price action, the price I get filled at is abysmal, and it seems a lot of pips get left on the table. With limits, I let my losers go quickly because I can ALWAYS find another entry.

User avatar
ajaymein
rank: 500+ posts
rank: 500+ posts
Posts: 885
Joined: Sun Nov 09, 2008 6:34 am
Reputation: 0
Gender: None specified

Postby ajaymein » Sun Jan 25, 2009 10:47 pm

blud72 wrote:Hey Ajaymein,

I guess I should clarify my ZL's. First of all, you are right...I don't have them all marked. Would have gotten too cluttered if I continued to draw them. Second of all...not sure if what I draw can be truly considered zl's...not sure what they could be called but horizontal line could do in a pinch :lol:

Oh yea, and do you ALWAYS place your Buy Limit orders as soon as a ZL is established? If you do, wouldn't this eventually incur a loss since price isn't always going to continue upwards and retrace to a ZL and continue upwards...it will take a turn down eventually...

I actually wait for price to go back up above these zl's since I am looking for a bounce downwards into my waiting order. So I draw the line first then let it do its thing, drink beer, look at other charts, etc. Then as I get a candle going up above the zl, I will put order in. Remember, in this particular pic that I showed....I only cared to look for opportunities to go long...

I guess the best thing I can do is to continue to post pics of my trades as they occur then we can pick em apart. Like MightyOne says, sometimes it is hard to put into words how one sees the charts...I know I have plenty of friends who groan and put their heads in their hands when I place a trade due to the fact that they only trade in buy or sell stops...not limits. All I know is that it works and I see the price action in my own way. I, for the life of me, never seem to do well with placing buy and sell stops to enter an order. Seems wrong because of the way I visualize and interpret the price action, the price I get filled at is abysmal, and it seems a lot of pips get left on the table. With limits, I let my losers go quickly because I can ALWAYS find another entry.


Thanks blud72, That clarified the questions I had about your chart.

Now I have a big question for all fellow ZLers!

When is a previously drawn ZL "old" or invalid so it is no longer of significance to us?


The way I see it, once you draw a ZL, and price comes back down/up and hits it (regardless of with a wick or body), that ZL is TERMINATED/INSIGNIFICANT/DONE!

Why?
Because the whole idea of a ZL is zeroing out profits, Right? So once price even clips your ZL, all SL and B/E orders AT THAT ZL have been fulfilled, and everything is ZEROED! Therefore, why continue to use that line as a point of reference...isn't it irrelevant?


Maybe I'm just an idiot, but something to think about! Comments/answers would be wonndderrful! :shock:

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”