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MightyOne
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Postby MightyOne » Fri Mar 27, 2009 7:01 am

I would like to hear your thoughts on what I am about to say.

This is what I have been considering to complement my momentum trading:

I reduced my risk from 70% the 100 Bar ATR to 66%.

Keep in mind that I am trading WITH momentum so my
stop loss is a no momo proposition.

I always hug the momentum candle so what I am about to say applies to the candle that is adjacent to the momo.

When price moves through my stop loss by 5 pips I enter an order to re enter at my stop price.

If price stalls around my stop loss then there is a good chance that price will retrace allowing me to recover some or all of my losses.

If price blows through my SL by 10 pips or more and I have time to move the order then I will move the re entry to the mid point between my prev. stop and the low for example.

This is the theme:

:cry: "I was stopped out only to have price reverse and move to my target."

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prochargedmopar
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Postby prochargedmopar » Fri Mar 27, 2009 7:34 am

Interesting,
I've been looking at it like this and hoping to act accordingly.
If I stop out early(small loss) I will have a good chance of getting a much better re-entry price not only recovering my stop but also adding a little extra. Then when I get back to the original B/E entry I can enter a 2nd order and be in for a double ride.

I'm working on proper price analysis so this is actually possible.
The Z-lines and Mighty Zones are looking good. Quick scalps would make this difficult.
Procharged.
#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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prochargedmopar
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Postby prochargedmopar » Fri Mar 27, 2009 7:36 am

Also, once I get to the first retrace I could dump half of an order, then when it gets back to the line add another one. Doing this at each re-trace point until price actually reverses and then close all fully open and partial postitions.
#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 » Fri Mar 27, 2009 9:15 am

Is is not like I will ever get a chance to trade it as I have to get stopped out :roll:

Because I only trade in a long term direction I have other options available to me.

Swarm Entry Method:

Risk 3% for 2% and then then risk 0.5% per trade with the goal of accumulating a position in the direction of the high TF momo candle.

If 2% is lost then risk 3% and scalp another 2%.

Do not move stops, set a TP, or click out of the 0.5% trades as
you are ACCUMULATING units.

Goal is to accumulate 6 units and exit after a high TF momo candle or when you feel an exit is justified after accumulation is complete.

My goal is always the same:

ZERO DRAW DOWN (of my own money :wink:)

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MightyOne
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Postby MightyOne » Fri Mar 27, 2009 9:45 am

Well that was fun...

Image

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dragon33
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Postby dragon33 » Fri Mar 27, 2009 10:23 am

Todays Jackpot

Image

Two times in in yellow highlight out at H4 ultimate zero

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es/pip
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Postby es/pip » Fri Mar 27, 2009 2:15 pm

dragon33 wrote:Todays Jackpot

Image

Two times in in yellow highlight out at H4 ultimate zero


:shock: :shock: :shock: :shock: :shock: :shock: :shock:

wow!!!!!!!!

nice one dragon

i was sleeping :evil:

deeforex
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Postby deeforex » Fri Mar 27, 2009 2:25 pm

MightyOne wrote:Well that was fun...

Image

What does DBP stand for? [edit: oops, BDP]
Last edited by deeforex on Fri Mar 27, 2009 4:16 pm, edited 1 time in total.

deeforex
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Postby deeforex » Fri Mar 27, 2009 2:32 pm

MightyOne wrote:I would like to hear your thoughts on what I am about to say.

This is what I have been considering to complement my momentum trading:

I reduced my risk from 70% the 100 Bar ATR to 66%.

Keep in mind that I am trading WITH momentum so my
stop loss is a no momo proposition.

I always hug the momentum candle so what I am about to say applies to the candle that is adjacent to the momo.

When price moves through my stop loss by 5 pips I enter an order to re enter at my stop price.

If price stalls around my stop loss then there is a good chance that price will retrace allowing me to recover some or all of my losses.

If price blows through my SL by 10 pips or more and I have time to move the order then I will move the re entry to the mid point between my prev. stop and the low for example.

This is the theme:

:cry: "I was stopped out only to have price reverse and move to my target."


Hmmm, this sounds similar to Jacko's Anti-Hedge (ForexFactory) but with smaller pip sizes since he trades the 4H charts. I'm not sure if he's still using it but when he did, he said it really worked well. It helped him recover his losses when the trend temporarily went against him and then resumed.

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MightyOne
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Postby MightyOne » Fri Mar 27, 2009 4:11 pm

deeforex wrote:
MightyOne wrote:Well that was fun...

Image

What does DBP stand for?


Body in the direction of profit...

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