Never Lose Again

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prochargedmopar
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Postby prochargedmopar » Mon Mar 30, 2009 3:53 pm

Ummmmmmm,
After typing in all that I took a look at U/J out of curiostity........
Things did go long just as I had supected.
I'd like to say if I sat down 2 hrs earlier or 2 hrs later I would have banked but...........I'll be better prepared next time.
Ouch.
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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es/pip
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Postby es/pip » Mon Mar 30, 2009 4:12 pm

winny wrote:
es/pip wrote:Image




ES/pip, I should read all the posts first, but perhaps you can tell me.
What kind of strategy is it that you are using here in this pic ?
Is this a breakout strategy (DIBS perhaps) ?
Are these TRO's indicators that you are using ?
Thank you.


yeah u are going to need to read the thread

they are from Mighty One's teachings about Zlines and Mighty Zones

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es/pip
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Postby es/pip » Mon Mar 30, 2009 4:13 pm

got in this one

then we took out the low

and i was like

:D :D :D

then 2 sec later i was like

:evil: :evil: :evil:

lol

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MightyOne
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Postby MightyOne » Mon Mar 30, 2009 4:22 pm

pierre23 wrote:Short at 79, out at 02. A good gain.

Image

MO, you say to add profit to your SL and continue trading with the big picture. What happens if that retrace is large enough to hit your SL, does that not bring you back to square one minus your initial stop?

eg. If you risk 2% over 10 pips and add 20 pips in profit then
you are risking the initial 10 and the 20 pips for a 30sl.

The retrace hits your 30sl, taking you back to the start minus 10pips to your account.


The only way price will ever reach your stop is if you entered and were not in profit to exit and inflate your stop.
On a large move against you you would be out and then you would re enter as it started to turn around.
Or you would be wrong immediately and let price move to your stop if that is where it was going.

Yes, you would lose 2%
...

What you are risking is what you are risking, you either make good entry decisions and take a profit before retrace or you might take a loss.

Too often traders say to them selves "ahh I'll move my SL to break even" or "I'll lock in a small profit" and they just let price come back
on them because they are comfortable.
If professional poker players are making more money than you then there is some thing seriously wrong with what you are doing!

If you were up 17 pips and price suddenly dropped to +9 you would not complain.

But If you exited at +17, increased your stop to 26 and reentered
at 9 suddenly you are thinking about how you were in profit and
might end up with a loss.

Is it not true that your intent was to hold to your target/goal?

Is it not true that price retraced lowering the probability that
you would achieve your goal due to a smaller market gyration taking you out?

Corrections in your account = The Anti Goal :evil:


I am only trying to retrain your mind for success :shock:

Once you understand the concept and plan your strategy around it
then you will no longer be dreaming of a 5% weekly gain (in fact you may even add zeros to it in reality).
Last edited by MightyOne on Mon Mar 30, 2009 4:41 pm, edited 1 time in total.

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MightyOne
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Postby MightyOne » Mon Mar 30, 2009 4:37 pm

prochargedmopar wrote:Ummmmmmm,
After typing in all that I took a look at U/J out of curiostity........
Things did go long just as I had supected.
I'd like to say if I sat down 2 hrs earlier or 2 hrs later I would have banked but...........I'll be better prepared next time.
Ouch.
Image


Look at it as the market is still close to where it was when you sat
down so you did not miss the move for your massive profits.

MACRO thoughts PRO

MACRO thoughts :shock:

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MightyOne
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Postby MightyOne » Mon Mar 30, 2009 5:09 pm

Gosh, it is just so fergin hard to decide!

Ahhhmmm *finger on lips* I think that I'll go long
because my indicators are starting to turn up :P

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MightyOne
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Postby MightyOne » Mon Mar 30, 2009 5:25 pm

How many channels have you seen me draw with 15 and 30 degrees?

15, 30, 45, 60, & 75* lines are accurate to within a few degrees when
you consider that NO ONE expects the lines to perfectly contain the price action!

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jahjahblessed
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Postby jahjahblessed » Mon Mar 30, 2009 5:32 pm

foot on the brake "reducing speed"
transform to PIP"S FARI

Whatever the mind of man can conceive and believe, it can achieve.
Napoleon Hill

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JAHJAHBLESSED

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es/pip
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Postby es/pip » Mon Mar 30, 2009 6:00 pm

glad them boys held on to their profit :D



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MightyOne
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Postby MightyOne » Mon Mar 30, 2009 6:31 pm

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