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prochargedmopar
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Postby prochargedmopar » Tue Feb 17, 2009 12:49 am

MightyOne Challenge
Eur/Jpy line at 117.24 at 5:30pm.

First trade:
B 117.285-117.336 19:15-19:16 = +5.1

Second trade:
S 117.226-117.141 19:21-19:21 +8.5

I will not post any more till the end of the week as not to overload the thread. I had open/diff and tro_modified candle color on my chart but will use the tro-"black" candles only template tomorrow.

I had a bad day this morning trading because I broke a few rules and when I went to bed my wife said:
If you don't follow the rules you'll be a maintenance man for the next 20yrs. [-X
Today when I got up I printed out a sheet of paper and posted it right on the wall in front of my trading desk.
It says;

Not Following Rules=
20 more years as a Maintenance Man
#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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Postby jsteyn4801 » Tue Feb 17, 2009 6:08 am

MightyOne wrote:I offer a special challenge to those who dare accept it.

I would like to take up the challenge but I need further understanding on the rules. Sounds like the big bang theory = everything move further away from a certain point/ line.

1. Place a horizontal line on the first price you see when you sit down to trade.

Did that just now - GBPUSD = 1.4211 06:00 GMT

2. Make a note of the current time and do not move the line you have placed for 8 hours.

3. You may only trade away from the line.

Buy above 1.4211 or sell below 1.4211

4. Your line exists in all time frames.

5. You must have a body close in the direction of profit in at least 1 time frame and may not liquidate for less than 0.3333 pips multiplied by the minutes of the above time frame (15m chart * 0.3333 = 4.9 pip min. profit).

Wait for the first bar/ candle to close above/ below line and then enter in the same direction.

Example - If next 1H bar should close at 1.4180 below 1.4211 = Sell at 1.4180 (where do you place stop - or no stop with reverse above 1.4211).
Once in position close with minimum 60min x 0.333 = 20 pips. (1.4160)

If the price do not go as low as 1.4160 What next? Reverse/ Go Long after first candle close above 1.4211?

6. No indicators whatsoever! The only thing that should be on the chart is that single horizontal line.

7.It is ok to demo the challenge for 5 trading days by placing the line and then coming back to it after 8 hours and post how you think you would have traded away from it.

8. The challenge is to trade this way live for 5 days.

If you should be so brave as to accept then I would like to hear what you have learned from this exercise :?

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Postby MightyOne » Tue Feb 17, 2009 7:47 am

The main thing I want you to see is how much one single little line can alter the way that you see a chart.

If you were to add more lines you would only be adding confusion to your chart.

Now throw in some indicators and your perception is no better than a man on acid.

The line you put on your chart is neither support nor resistance; it simply marks the time and price at which your mind focused on the market.
Either price moved up from the time you sat in front of your charts or it is moving down.

You need not whip-saw your self by trading as soon as price closes over the line.
This is not baby pips and neither do we trade as infants. Consider the candles, look for zero lines, trade away from the ZL, and ignore trades toward your "sit down price."

Slow down, you do not need a trade right a fergin way. Let price give a "duh" moment and take the sure thing.

Again, do not consider your "sit down price" as anything more than a coin which lands on heads or tails & trade as you normally would (without indi).

STOPS: I am currently getting away with M15 (480) divided by 2. Of course I am using 2% instead of 4% risk and use market + Limit Combo when price not filling my limits.

TRADES: I just sit back away from the chart with my feet up and hands no where near the mouse until I see some price action that I can work with.

If I failed to answer a question then please re post :oops:

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Postby MightyOne » Tue Feb 17, 2009 8:19 am

Almost forgot...

Nice charts es / pip!

Maybe you should start teaching zero lines :wink:

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Postby es/pip » Tue Feb 17, 2009 9:11 am

MightyOne wrote:Almost forgot...

Nice charts es / pip!

Maybe you should start teaching zero lines :wink:



no i will leave that to the pro-----------YOU.

your charts and explanations allowed me to piece in a small portion to the puzzle

i have been trading really close to this for awhile------ just was missing a little nugget---which i got from you


thank you sir

i continue to look forward to learning more

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Postby es/pip » Tue Feb 17, 2009 9:13 am

MightyOne wrote:The main thing I want you to see is how much one single little line can alter the way that you see a chart.

If you were to add more lines you would only be adding confusion to your chart.

Now throw in some indicators and your perception is no better than a man on acid.

The line you put on your chart is neither support nor resistance; it simply marks the time and price at which your mind focused on the market.
Either price moved up from the time you sat in front of your charts or it is moving down.

You need not whip-saw your self by trading as soon as price closes over the line.
This is not baby pips and neither do we trade as infants. Consider the candles, look for zero lines, trade away from the ZL, and ignore trades toward your "sit down price."

Slow down, you do not need a trade right a fergin way. Let price give a "duh" moment and take the sure thing.

Again, do not consider your "sit down price" as anything more than a coin which lands on heads or tails & trade as you normally would (without indi).

STOPS: I am currently getting away with M15 (480) divided by 2. Of course I am using 2% instead of 4% risk and use market + Limit Combo when price not filling my limits.

TRADES: I just sit back away from the chart with my feet up and hands no where near the mouse until I see some price action that I can work with.

If I failed to answer a question then please re post :oops:




that pretty much sums it all up right there

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Postby MightyOne » Tue Feb 17, 2009 11:12 am

prochargedmopar wrote:MightyOne Challenge
Eur/Jpy line at 117.24 at 5:30pm.

First trade:
B 117.285-117.336 19:15-19:16 = +5.1

Second trade:
S 117.226-117.141 19:21-19:21 +8.5

I will not post any more till the end of the week as not to overload the thread. I had open/diff and tro_modified candle color on my chart but will use the tro-"black" candles only template tomorrow.

I had a bad day this morning trading because I broke a few rules and when I went to bed my wife said:
If you don't follow the rules you'll be a maintenance man for the next 20yrs. [-X
Today when I got up I printed out a sheet of paper and posted it right on the wall in front of my trading desk.
It says;

Not Following Rules=
20 more years as a Maintenance Man


I could say that only trading in the direction that the bodies are closing with significant momentum is a rule, but then again I cannot profit if price is doing the opposite.

So what then is a rule but an observation of price behavior?
If price behavior then can you assume that price will always behave the same and what then does this say about the rule only that it was made to be broken?

All I am saying is LEARN from what you see Dolar_Smile

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Postby blubbb » Tue Feb 17, 2009 12:43 pm

Hi

MightyOne wrote:STOPS: I am currently getting away with M15 (480) divided by 2.


Sorry, I didn't get that. :oops: What's the stop loss again?

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Postby TheRumpledOne » Tue Feb 17, 2009 3:44 pm

NATURAL LAWS


Principle 1: Nonresistance

There are four ways to approach the forces of life:

? Surrender to them fatalistically. Rocks, because they are inanimate, have little choice but to surrender passively to the natural laws.

? Ignore them and, in ignorance, experience accidents, or create unnecessary struggle by swimming against the natural currents of life.

? Resist them and create turmoil. If we resist what is ? the natural flow of life ? we waste energy and fight ourselves.

? Use them and blend with nature. Like birds that ride the wind, fish that swim with the current, or bamboo that bends to absorb the weight of fallen snow, you can make use of natural forces. This is the real meaning of nonresistance. We can express the law of nonresistance in many ways:

? Don?t push the river.

? Let it be.

? Go with the flow.

? When life gives you lemons, make lemonade.

? Turn problems into opportunities and stumbling blocks into stepping-stones.

On days of slow physical progress, you can cultivate patience and trust in the natural process of growth. Nonresistance transcends passive acceptance and actively rides the currents and cycles, making use of whatever circumstances arise.

True nonresistance requires and develops sensitivity and wisdom. For the master, outer accomplishments are significant only as indicators of one?s alignment with natural law. Master golfers, for example, make intuitive use of the wind, of the direction the grass grows, of the moisture in the air and the curves of the land. They use gravity by letting the weight of the club head guide the swing in a relaxed rhythm. Master gymnasts learn to blend with the forces and circumstances in their environment. Masters of tennis learn to use the texture of the court to their advantage.

In daily life, those of us who resist change inhibit growth. Bob Dylan reminded us that those who aren?t busy being born are busy dying.

What a caterpillar calls the end of the world the master calls a butterfly. ? Richard Bach

A martial arts principle teaches, ?If pushed, pull; if pulled, push.? You can use your opponents? movements to your advantage through nonresistance. Apply softness in the face of hardness ? absorbing, neutralizing, and redirecting force. Body mind masters reject the adversarial mindset; they cease perceiving and resisting ?enemies.? Rather, they view opponents as teachers or sparring partners who challenge them to bring out their best.

BLENDING

The Martial Arts Principle of No-Collision

Test 1. Stand squarely in front of a partner. Tense your body. Have the partner push you with one hand as you resist. How does that feel? What happens? You are likely to lose your balance or control as your partner pushes you backward.

The next time he or she pushes, take a smooth step back; just let your body flow backward at the same speed as your partner?s push. Give no resistance at all. What does this feel like? Do you feel the cooperation and harmony you have created? Centered and in control, you allow your partner to go where he or she wants to go.

Test 2. Stand with your right leg and right arm extended toward your partner; root both your feet lightly to the floor. Breathe slowly in your lower abdomen; relax. Cultivate a feeling of peace and goodwill. As you maintain this spirit, have your partner come toward you rapidly from a distance of about ten feet, with the intent to grab your right arm, which is extended toward him or her at hip level.

Just as your partner is about to grab your hand, whirl around and behind your partner by taking a smooth, quick step slightly to the side and beyond your partner as he or she lunges past, grabbing for the arm that?s no longer there. If you do this smoothly, facing your partner as you whirl around, you?ll maintain equilibrium and control as your partner totters on the edge of balance.

Test 3. This Aikido approach can also be applied to potential verbal confrontations. On such occasions, instead of engaging in verbal tussling ? trying to prove a point, win an argument, or overcome someone with reason ? just sidestep the struggle. Simply listen, really listen, to your opponents? points; acknowledge the value of what they are saying. Then ask gently if there isn?t some validity to your view also.

In this way, you can learn to blend and apply nonresistance not only to physical opponents but to all of life?s little problems. Remember that you create the struggle in your life; you create the collisions. And you can dissolve conflict through nonresistance.

Nonresistance: Psychophysical Application

In judo, he who thinks is immediately thrown. Victory is assured to those who are physically and mental nonresistant. ? Robert Linssen

Stress happens when the mind resists what is. Most of us tend to either push or resist the river of our lives, to fight circumstance rather than make use of things as they are. Resistance creates turbulence, which you feel as physical, mental, and emotional tension. Tension is a subtle pain, which ? like any pain ? signals that something is amiss. When we are out of natural balance, we create tension; by listening to our body, we can take responsibility for releasing it.

Athletes commonly resist the natural processes by trying. The word ?try? itself implies weakness in the face of challenge. The moment you try, you are already tense; trying, therefore, is a primary cause of error. In more natural actions, you don?t try. You simply walk to the refrigerator, write a letter, or water the flowers; you don?t have to try, yet you perform these tasks easily and naturally. But when faced with something you consider an imposing challenge ? when self-doubt arises ? you begin to try. And when competitors feel pressure and begin to try, they often fall apart.

When archers shoot for enjoyment, they have all their skill; when they shoot for a brass buckle, they get nervous; when they shoot for a prize of gold, they begin to see two targets. ? Chuang Tzu

To illustrate the effect of trying too hard, imagine walking across a four-inch-wide plank of wood suspended a few inches off the ground. No problem, right? Now raise the plank ten feet over a pond filled with alligators. Suddenly you begin trying harder. You feel tense. You have the same plank but a different mental state.

Life is a play of polarities. Whenever you try to accomplish something, you often experience ? and create ? internal forces in direct opposition to your goal, just like those who try to lose weight but end up gorging. You can measure this opposition in your own physiology: if you try to hold your arm straight, you?ll tend to tense your extensor muscles (triceps) but also your flexor muscles (biceps). You end up fighting yourself and wasting energy. If you try to stretch you may feel your muscles tensing in resistance, just as golfers who try to wallop the ball often end up topping it into the rough.

In all activities of life, the secret of efficiency lies in an ability to combine two seemingly incompatible states: a state of maximum activity and a state of maximum relaxation. ? Aldous Huxley

Body mind masters use less effort to create greater results. Even while engaged in intense competition they ?let it happen? without strain. This may seem like idealistic fantasy, but numerous descriptions of the lives of martial arts masters testify to the existence of this kind of grace under pressure. The higher the stakes, the calmer, clearer, and more relaxed these masters became ? indeed they became unbeatable. Peaceful warriors like Morehei Uyeshiba, the founder of Aikido, at more than eighty years of age could evade an attacker wielding a razor-sharp sword, tapping him on the nose with a fan, while remaining relaxed and breathing deeply.

Body mind masters take an easy, relaxed, progressive approach while working within the higher reaches of their comfort zone, thereby avoiding the burnout that accompanies a stressful approach to training.

If you gently take a child by the hand and lead him or her smoothly, the child is more likely to follow than if you give a sudden tug. Our subconscious minds work the same way. In the long run, it works better to use a carrot than a stick. If you play golf, just let the club swing. If you?re a gymnast, form the intent, then let the body pirouette. If you play basketball, let the ball go through the hoop. In life, form clear goals, prepare, then let things happen naturally, in their own good time.

Every bamboo shoot knows how to bend with the wind, but masters have the insight to build windmills. Understanding the spirit of nonresistance, you create a partnership with nature. You take the first step on the path of body mind mastery.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby TheRumpledOne » Tue Feb 17, 2009 3:46 pm

Principle 2: Accommodation

Life was never meant to be a struggle, just a gentle progression from one point to another, much like walking through a valley on a sunny day. ? Stuart Wilde

Let?s take a look at some key points in the process of learning:

? In athletics, as in life, development follows demand. With no demand, there is no development; with small demand, small development; with improper demand, improper development.

? Demand takes the form of progressive overload. By persistently asking yourself to do more than you?re comfortable with, slightly more than you are capable of, you improve.

? Progressive overload occurs in small increments within your comfort zone. You need to stretch your comfort zone but not ignore it. Most athletes constantly work outside their zone, and they experience extremes of fatigue, strain, and pain. By staying within (but near the top of) their comfort zone, masters take a little longer to improve, but their improvements last longer.

? Development inevitably entails a constant stream of ?little failures? along the way to your ultimate goals.

? Tolerance for failure comes from an intuitive grasp of the natural process of learning. Realism breeds patience. By understanding natural laws, you develop a realistic, lighthearted approach to temporary failures and come to see them as stepping-stones to your inevitable progress.

When you make realistic and gradual demands on the body, the body will develop. If equally progressive demands are made on the mind and emotions, they will develop as well. This process of accommodation reflects a law that has allowed human beings to evolve and survive through time.

Even rocks are subject to the law of accommodation. If you grind a rock with a tool, it will gradually change its shape. But if you grind it too quickly, the rock may break. Gradual demand brings the surest results. Climbing a mountain is best done in small steps. If you try to do it in huge leaps, the result may be counterproductive.

The law of accommodation reminds us that mistakes are the stepping-stones to success ? a natural part of the process.

Trust the process of your training and trust the process of your life.

Accommodation: Psychophysical Applications

Many of us are so goal-oriented that we forget to enjoy the journey. I?m reminded of an ancient Chinese curse: ?May you achieve all your goals.? Paradoxically, if we enjoy the process of striving toward our goals, we are more likely to reach them. Getting there is more than half the fun.

Accommodation is a law as certain as the law of gravity. Yet most of us don?t trust the law because of self-doubt or confusion. You may wonder, ?Can I really become good at this?? ?Will I be able to accomplish my goal?? ?Will I find success?? A more useful question is not ?Can I?? but rather ?How can I?? Progress is mechanical: If you practice something over time, with attention and commitment to improve, you will. The degree of improvement depends on many factors you?ll discover as you read on. Some people have the unique combination of psychological, emotional, and genetic qualities necessary to become world-class, but anyone who practices over time can become competent, even expert, in any chosen endeavor.

PROOF OF ACCOMMODATION

Here?s a simple way to understand how the law of accommodation works: Choose a physical action that is presently a little beyond your reach. It may be a push-up, a sit-up, a one-arm push-up, a handstand push-up, sitting on the floor with your legs straight out in front of you and touching your toes, or running in place for five minutes without tiring.

Once you?ve chosen your feat, attempt it several times in the morning and again in the evening. Do this every day. With each attempt, you?re asking your body to change. Ask politely ? don?t overdo it ? but be consistent.

Don?t set any goals, time limits, or specific number of repetitions you must do each day. (Some days you may do more, other days, less.) Don?t visualize any outcome.

Continue this for a month and see what happens. Without really trying, you?ll find that somehow, in this relaxed way, you will have improved; your body will comply with your ?polite request.?

Apply the same approach to any change you?d like to make in your life. Achieving desired outcomes is a natural result of relaxed practice over time, of working within (but in the upper ranges) of your comfort zone, rather than pushing through pain. Trust the process; ask and it shall be given.

Of course, you may also benefit by setting, visualizing, even writing down specific goals. With no direction at all, you may wander in circles. So whether or not you affirm, visualize, or pursue other strategies, a goal in your mind and heart is a natural part of the process of accommodation.

Applying the law of accommodation generates new levels of trust, responsibility, and commitment; your success depends on the demands you are willing to make on yourself. But know that when you decide to do something, even if it is not presently within your capacity, you can succeed. There are no absolute guarantees, but in making this journey you are more likely to succeed than if you never begin.
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