Never Lose Again

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prochargedmopar
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Postby prochargedmopar » Mon Mar 30, 2009 1:37 am

And look at all that profit....for somebody but me.
Go short.. yeah right.
If I would have taken a short it would have been against the D1 and H1 both.
Body in direction of profit(short) and it didn't even make a wick in the direction of loss(long) before it dropped like a rock......It didn't need to cuz I was already zeroed out. ;)

Image
Last edited by prochargedmopar on Mon Mar 30, 2009 3:29 am, edited 1 time in total.
#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 es/pip » Mon Mar 30, 2009 1:42 am

prochargedmopar wrote:Here's a supper dupper buyzone losing trade.
I got in late off the line when I clicked the same time it jump.
Ok, so I need to use limit orders.....

It appeared to be a good z-line setup also and look at the indi's in the corner. Almost ALL green. Should we go long?
NOT, out at - 5.9 pips.
A HH and HL should equate to a good trade out of the bottom eh?
2 trades today -11% of my account.
Image


cant comment on the buyzone --as i do not know that setup


as far as the zline trade this is how i would have looked at it

Image

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Postby es/pip » Mon Mar 30, 2009 1:44 am

and then this


Image



edit---- saw you just posted that

pierre23
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Postby pierre23 » Mon Mar 30, 2009 1:55 am

It's the drain the bank triggers I think hes taking.

Pro, yes when you entered the multimeters were green etc, but only just.. you can see where price is and your overlay of the h1. It's near the open, and price has already travelled up, theres nothing to say it can't go down..

If you had taken the short trigger, just before you would have been in profit.

I'm pretty sure the rule of thumb for this type of trade (DTB method) is you wait for the semafor to appear first on the H1 before taking the trade.

Beside those points, you have your stops in place right? :D so nothing to worry about, win some lose some

-- I don't intend this to sound like I'm having a go at you or anything, but if I were you I wouldn't be trading live today, it doesnt seem like you're in the right frame of mind.. and maybe it's just me but I'm feeling some negativity from you.. yes, through the computer.. (don't ask me how :wink:)

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Postby es/pip » Mon Mar 30, 2009 2:02 am

pierre23 wrote:Not sure if you'd consider this a true ZL trade. Got in 6 pips late, which was risky. Was supposed to enter long at the top of the green box but had my mind elsewhere. Entered at the price you see to the right at the candle with the arrow. Managed to get out with 2pips.

Image

As for Humbles post above, has it ever occured to you that maybe es/pip or MO or anyone else may NOT BE TEACHERS but TRADERS? Anyone can see they are trying their best trying to show this way of trading. In the post es/pip wrote to pro I see no flack given... at all. YOU think it's frustrating? Imagine what es or MO are feeling.. you don't think they are trying to simplify it for us? They would have more frustration than anyone, because they can see it perfectly and you cant.

It's all this other stuff that gets mixed in that is throwing me for a loop.
I think what he means is the money/risk management, position sizes etc that has been mentioned. With all the percentages being thrown around and stuff may be a little confusing. Correct me if I'm wrong pro.

In regard to the "risky trade" es/pip did, personally I wouldn't see that as any riskier than any other ZL setup. As he mentioned, and as you can see, there is a gap. Gaps tend to get filled. So in a way it may be confirming a long trade.



i think what you saw was correct--- i prob wouldn't have entered that late especially on a m5 chart----- but the way it is annotated is correct

[size=18]i also would like to preference that i am not sure that i should even be answering peoples q's on this stuff.

everything i am doing was learned in this thread off of MO posts.

again i am just trying to help

and what i may say in response to a q or chart may be incorrect from the way MO sees it

maybe i should put that in my sig. as a disclaimer :D [/size]

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Postby deeforex » Mon Mar 30, 2009 2:06 am

Pro,

Have you caught up on your sleep yet? Weren't you only getting 4.5hrs/day. :shock: It almost seems like someone hacked your account today and is posting under your handle because it really doesn't seem like the Pro that normally posts.

Sleep is just as important as the diet and exercise that you subscribe to, to make your body healthy.

Maybe after you're well rested and your brain takes a break from trading your trading will improve. IMHO, there's really nothing worse than scalping when your mental facilities are not 100% there.

Best to you,
dee :)

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Postby prochargedmopar » Mon Mar 30, 2009 2:18 am

es/pip,
That stuff looks great in hindsight, It even looked good while it was developing.
The problem is I was going long with the TREND!!!!!!!!
Do you see that we had made a higher/high and higher Low. It was a 90% fib re-trace so I guess the currency was WEAK.

All this action you posted is in hindsight and hard to get into it after it's already started. I see those type of charts everywhere. They all look great and I can find all kinds of "system" setups after the fact. That's easy. What I'm saying is that When all those red candles started the hour candle and D1 candles were still GREEN.

HOLD UP!
Looking at he 15M chart there was never a wick in the direction of loss, it was a body that just kept on going, and going, and going. I see another setup on the 5m chart as we speak but on the 15M chart the body is still going in the direction of loss.........
Hmmmmmm, May be on to something.... Just as you guys said:
Look at the HIGHER time frame for your setup!!!!!!
Here is the 15M chart, Then count the candles on the 5M chart. Looks good on lower timeframe but I'd never have taken the trade "LONG"on the higher TF chart.
I'm not using the DTB setups on these trades, just trying to trade off Z-lines and SupRes going with the trend.
Image
Image
#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 » Mon Mar 30, 2009 2:20 am

Prices rise and fall by HUNDREDS of pips every day and some how most
every one cannot figure out how to make even 1% per day.

I just dont get it, I really don't :?

So I am going to lay out the frame work for profiting in a such a way
that can be accomplished by anyone:

1. Which way is price likely to move in the long term (more on this later).

2. How small can I make my stops (you would be surprised)

3. Risking 1% per trade/chart enter with the momentum of the small time frame.

4. Exit all when you feel that price is likely to reverse and add that profit to your SL amount less commission.

EXAMPLE: 10 pips = 1%: You make 15 pips on a short and exit as the market starts to reverse. The next trade you risk your initial 10 + the 15 gained from shorting less 1 pip for commission to re enter.

5. Price starts heading in the long term direction and again you get an entry to short on your small TF. You short with your 25 pip stop and the market starts stalling at +7 so you exit (you are at +32).

Price retraces 45 pips and you believe price is again heading south so you short again on you small TF with a 31 pip stop.

7. YOU CAN ONLY EXIT WHILE IN PROFIT OR GET STOPPED OUT!

Price retraces 27 pips and then turns around and plummets 74 pips.

What time frame are your trading? What does that chart look like?
How many bars has it been since you first started shorting?

Trade NO MORE THAN 2 bars of any time frame!

8. You either reach your goal and make 7, 15, 26, 52, or 80%+ on your account or you lose 1%.

By reinvesting profit, having an unwillingness to let price trade to your stop while you are were profit at some point, and by sticking to a goal knowing that PRICE DOES MOVE HUNDREDS OF PIPS EVERY DAY (just about) then you will reach the goals you set out to attain and your losses
will cause you great laughter.

Think and grow rich PRO :wink:

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Postby pierre23 » Mon Mar 30, 2009 2:23 am

es/pip wrote:
pierre23 wrote:Not sure if you'd consider this a true ZL trade. Got in 6 pips late, which was risky. Was supposed to enter long at the top of the green box but had my mind elsewhere. Entered at the price you see to the right at the candle with the arrow. Managed to get out with 2pips.

Image

As for Humbles post above, has it ever occured to you that maybe es/pip or MO or anyone else may NOT BE TEACHERS but TRADERS? Anyone can see they are trying their best trying to show this way of trading. In the post es/pip wrote to pro I see no flack given... at all. YOU think it's frustrating? Imagine what es or MO are feeling.. you don't think they are trying to simplify it for us? They would have more frustration than anyone, because they can see it perfectly and you cant.

It's all this other stuff that gets mixed in that is throwing me for a loop.
I think what he means is the money/risk management, position sizes etc that has been mentioned. With all the percentages being thrown around and stuff may be a little confusing. Correct me if I'm wrong pro.

In regard to the "risky trade" es/pip did, personally I wouldn't see that as any riskier than any other ZL setup. As he mentioned, and as you can see, there is a gap. Gaps tend to get filled. So in a way it may be confirming a long trade.



i think what you saw was correct--- i prob wouldn't have entered that late especially on a m5 chart----- but the way it is annotated is correct

[size=18]i also would like to preference that i am not sure that i should even be answering peoples q's on this stuff.

everything i am doing was learned in this thread off of MO posts.

again i am just trying to help

and what i may say in response to a q or chart may be incorrect from the way MO sees it

maybe i should put that in my sig. as a disclaimer :D [/size]


Thanks for confirming. Yes, I didn't think you would have entered so late, but I managed to come out with a profit, lesson learnt though.

lol I don't think you would need a disclaimer you're doing fine. Most of your trades have been approved by MO anyway, and he's said himself that you, himself and dragon all trade differently, doesn't mean its not right. If someone wants an answer from someone specific they can note it in their post :idea:

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MightyOne
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Postby MightyOne » Mon Mar 30, 2009 2:27 am

prochargedmopar wrote:es/pip,
That stuff looks great in hindsight, It even looked good while it was developing.
The problem is I was going long with the TREND!!!!!!!!
Do you see that we had made a higher/high and higher Low. It was a 90% fib re-trace so I guess the currency was WEAK.

All this action you posted is in hindsight and hard to get into it after it's already started. I see those type of charts everywhere. They all look great and I can find all kinds of "system" setups after the fact. That's easy. What I'm saying is that When all those red candles started the hour candle and D1 candles were still GREEN.

HOLD UP!
Looking at he 15M chart there was never a wick in the direction of loss, it was a body that just kept on going, and going, and going. I see another setup on the 5m chart as we speak but on the 15M chart the body is still going in the direction of loss.........
Hmmmmmm, May be on to something.... Just as you guys said:
Look at the HIGHER time frame for your setup!!!!!!
Here is the 15M chart, Then count the candles on the 5M chart. Looks good on lower timeframe but I'd never have taken the trade "LONG"on the higher TF chart.
I'm not using the DTB setups on these trades, just trying to trade off Z-lines and SupRes going with the trend.
Image
Image


Don't call my methods "setups"

I kill u 8)

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