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es/pip
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Postby es/pip » Mon Mar 16, 2009 3:56 pm

flipped the long to a short got out of the short at the red zero line

:D

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MightyOne
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Postby MightyOne » Mon Mar 16, 2009 4:03 pm

es/pip wrote:flipped the long to a short got out of the short at the red zero line

:D

Image


If price keeps blasting your exits like that then do not be afraid to
move your profit target down stream 2 or 3 pips and if it still blasts
through a majority of the time then push it down 2 or 3 pips more.

2 more pips over 10 trades is 20 more pips and over 100 trades it is 200p!

Observe how price responds to your exits as well as your entries.

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es/pip
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Postby es/pip » Mon Mar 16, 2009 4:35 pm

MightyOne wrote:
es/pip wrote:flipped the long to a short got out of the short at the red zero line

:D

Image


If price keeps blasting your exits like that then do not be afraid to
move your profit target down stream 2 or 3 pips and if it still blasts
through a majority of the time then push it down 2 or 3 pips more.

2 more pips over 10 trades is 20 more pips and over 100 trades it is 200p!

Observe how price responds to your exits as well as your entries.


simple---makes sense

thank you sir

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MightyOne
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Postby MightyOne » Mon Mar 16, 2009 6:26 pm

Worth repeating over and over again:

1. DO NOT SCALE DOWN
2. DO NOT MOVE STOPS TO BREAK EVEN
3. DO NOT USE TRAILING STOPS AS EXITS
4. DO NOT TRADE LIKE A COMPUTER
5. DO NOT FAIL TO TAKE THE TRADES YOU SEE
6. DO NOT CONSIDER YOUR ACCOUNT BALANCE 2B REAL MONEY.

...I am starting to sound like my mother :roll:

One thing I forgot to include in the posted trade strategy is that if I start with $1,000 and risk $40 and lose then I DO NOT SCALE DOWN.
I risk the same amount in dollars and take on a greater risk % until I get
back to $1,000.
If my account grows to where I can add another micro, mini, etc
then I risk the new amount (say $52 per trade) until I can add more
or until account death...which is an impossibility :wink:
Last edited by MightyOne on Tue Mar 17, 2009 1:48 am, edited 1 time in total.

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TheRumpledOne
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Postby TheRumpledOne » Mon Mar 16, 2009 10:25 pm

"or until account death...which is an impossibility "

ANYTHING CAN HAPPEN!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby TheRumpledOne » Mon Mar 16, 2009 10:55 pm

Image

Does the Money Management look right to you, MO?

I updated the TRO DRAGON MONEY MANAGEMENT indicator to work with 3 and 5 decimals.
Attachments
TRO_DRAGON_MONEY_MGMT.zip
(19.17 KiB) Downloaded 117 times
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby MightyOne » Tue Mar 17, 2009 1:33 am

TheRumpledOne wrote:"or until account death...which is an impossibility "

ANYTHING CAN HAPPEN!!


Nothing happens that I do not will to happen :wink:

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Postby prochargedmopar » Tue Mar 17, 2009 1:58 am

Anything can happen.
Yes I have more then 10min to trade but it always gets me in trouble.
Traded the NY session for 6 hrs. +2 pips
Finished this afternoon session (asian) 3hrs.......-59.5 pips.

MO, thanks for the info....
I had 9ish, 9.x stopouts trading e/j this afternoon.
Buying at resistance, selling at support time after time.
Am I a scalper?
Am I an investor?
I'm not acting as a consistently winning trader, that's for sure.
I"m using scalping stops and trying to get investor profits.
I'm lost.
Need to fix the head and then come back to trading.
I read that if you don't know who you are the market is an expensive place to find out.
I SAY:
THE MARKET IS THE ONLY PLACE FOR SOMEONE TO FIND OUT WHO THEY ARE. It's interesting to say the least.
Cheers.
#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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es/pip
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Postby es/pip » Tue Mar 17, 2009 3:18 am

prochargedmopar wrote:Anything can happen.
Yes I have more then 10min to trade but it always gets me in trouble.
Traded the NY session for 6 hrs. +2 pips
Finished this afternoon session (asian) 3hrs.......-59.5 pips.

MO, thanks for the info....
I had 9ish, 9.x stopouts trading e/j this afternoon.
Buying at resistance, selling at support time after time.
Am I a scalper?
Am I an investor?
I'm not acting as a consistently winning trader, that's for sure.
I"m using scalping stops and trying to get investor profits.
I'm lost.
Need to fix the head and then come back to trading.
I read that if you don't know who you are the market is an expensive place to find out.
I SAY:
THE MARKET IS THE ONLY PLACE FOR SOMEONE TO FIND OUT WHO THEY ARE. It's interesting to say the least.
Cheers.


what strategy were you trading?

zero lines? or "support and resistance"

if you were trading zero lines, post some charts with the zl's and your entry and exits and lets see if someone can see what went wrong.

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MightyOne
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Postby MightyOne » Tue Mar 17, 2009 3:34 am

prochargedmopar wrote:Anything can happen.
Yes I have more then 10min to trade but it always gets me in trouble.
Traded the NY session for 6 hrs. +2 pips
Finished this afternoon session (asian) 3hrs.......-59.5 pips.

MO, thanks for the info....
I had 9ish, 9.x stopouts trading e/j this afternoon.
Buying at resistance, selling at support time after time.
Am I a scalper?
Am I an investor?
I'm not acting as a consistently winning trader, that's for sure.
I"m using scalping stops and trying to get investor profits.
I'm lost.
Need to fix the head and then come back to trading.
I read that if you don't know who you are the market is an expensive place to find out.
I SAY:
THE MARKET IS THE ONLY PLACE FOR SOMEONE TO FIND OUT WHO THEY ARE. It's interesting to say the least.
Cheers.


When a member of Kreslik is not a profitable trader it pains me deeply and probably more so than the pain you feel :shock:
I will do every thing in my power to make you profitable...

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