Never Lose Again

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TheRumpledOne
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Postby TheRumpledOne » Thu Apr 09, 2009 4:59 am

"It is very important for you to understand that these new insights about
the market's behavior will come in stages as you learn to trust yourself more
and more. There is no "get rich quick" scheme being offered here. There are
enough rags to riches to rags stories to attest to the fact that get rich quick
doesn't work anyway. Getting rich quick can only lead to a great deal of
anxiety and frustration if you don't have the skills to keep it. There isn't
much point to making a lot of money if you are a susceptible to making that
one trading error that can give it all back plus more. Once you have made a
fortune and lost it, the psychological work that you will need to do to get it
back is enormous compared to work that is necessary to keep yourself from
losing it in the first place. As a trader it is more important to know that you
will always follow your rules than it is to make money, because whatever
money you make, you will inevitably lose back to the market if you can't follow your rules."


From "THE DISCIPLINED TRADER" by Mark Douglas.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Thu Apr 09, 2009 5:05 am

Image

You can still use M15 to DRAIN THE BANKS!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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rrobin
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Postby rrobin » Thu Apr 09, 2009 10:04 am

Get it while you still can:

Thanks

I want to read this.

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MightyOne
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Postby MightyOne » Thu Apr 09, 2009 3:29 pm

And to think that there are people who do not make money in Forex :roll:

Image

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MightyOne
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Postby MightyOne » Thu Apr 09, 2009 3:46 pm

"Drain, drain, drain the banks,
Draining night and day.
Merrily, merrily, merrily, merrily,
Make the bastards pay."


And here I thought that I had too much time on my hands...

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TheRumpledOne
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Postby TheRumpledOne » Thu Apr 09, 2009 5:55 pm

From THE DISCIPLINED TRADER by Mark Douglas:


To help you learn how to be with the flow of the market, I pose a series
of questions that are designed to keep you focused in the "now moment"

to determine what is true about the market.

1. What is the market telling me at this moment?

2. Who is paying up to get in or get out?

3. How much strength is there?

4. Is momentum building?

5. Can it be measured relative to something?

6. What would have to happen to indicate the momentum is changing?

7. Is the trend weakening or is this a normal retracement?

8. What would show that? If the market has displayed a fairly
symmetrical type of pattern and that pattern has been disturbed, then
it is a good indication the balance of forces has shifted.

9. Are there any places where one side will definitely gain
dominance over the other? If that point is reached, it still may take
sometime for the other side to be convinced they are losers. How
long are you willing to give them to stampede out of their positions?

10. If they don't stampede out of their positions, what will that tell you?

11. What did traders have to believe to form the current pattern relative
to the past? Remember that people's beliefs don't change easily
unless they are extremely disappointed. People are disappointed when
their expectations aren't fulfilled.

12. What will disappoint the predominate force?

13. What is the likelihood of that happening?

14. What is the risk of finding out in a trade?

15. Is there enough potential for movement to make the trade worth the
risk?

We may never know what traders will in fact do. But we can determine
what they will likely do if certain things happen first. For example, if traders
push the price lower than the previous low, what will likely occur? Is this
new low significant enough to cause traders holding long positions to bail out?
Will it cause new shorts to enter the market or attract existing shorts to add to
their positions? New shorts may be attracted to the market, and old shorts will
add to their position. This price slide will stop when enough traders believe the
price is cheap relative to something. That reference point will likely be some
other previous old high or low.

If you can't determine the significance of any particular high or low or any other
significant reference point for that matter, then you have to ask yourself if it is
worth the risk of finding out How much room will you have to give the market to
define itself before it is evident that the flow of the market is not in the direction
of that trade?

Ask yourself this question: For this trade to be valid or continue to be valid,
the market shouldn't trade to what point? If it trades within that point, then the
trade still has potential for working. Beyond that point, it is no longer valid in
the direction that I started.

Keep in mind that the amount of price movement that you determine is
necessary for the market to define itself has to correspond with your emotional
tolerance to accept the dollar value of a loss that size. Otherwise, don't take the
trade regardless of how much potential you think it might have, unless you can
realistically change the foregoing parameters to fit your capacity for a potential
loss.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

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MightyOne
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Postby MightyOne » Thu Apr 09, 2009 6:08 pm

The more and more I play with the idea of self engulfing candles the more I love it.

The idea that last night was last night and today is today.

A percentage of the range of the current candle engulfs its self
based on its percent completion.

There will only be one highest price and one lowest price this time
period.
If the market makes a new highest price then engulf from the low & if the market makes a new lowest price then engulf from the high.

I am long/short from the engulfing line :shock:

The open price is shifted toward the low as price is making new lows and eventually rests on the lowest price when the candle is 100% complete and vise versa.

Trading is about knowing where you are going within a time period and reaching goals that are achievable within that time frame.

The above is used in tandem with the method of reinvesting profits.

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Postby es/pip » Thu Apr 09, 2009 6:24 pm

MightyOne wrote:The more and more I play with the idea of self engulfing candles the more I love it.

The idea that last night was last night and today is today.

A percentage of the range of the current candle engulfs its self
based on its percent completion.

There will only be one highest price and one lowest price this time
period.
If the market makes a new highest price then engulf from the low & if the market makes a new lowest price then engulf from the high.

I am long/short from the engulfing line :shock:

The open price is shifted toward the low as price is making new lows and eventually rests on the lowest price when the candle is 100% complete and vise versa.

Trading is about knowing where you are going within a time period and reaching goals that are achievable within that time frame.

The above is used in tandem with the method of reinvesting profits.



so you like this more than the dynamic trend lines?

i haven't looked at this yet but i am going to this weekend

probably shouldn't post this chart bec off the way it formed---but as it was forming this line was valid---- took it for 5.5%



Image

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MightyOne
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Postby MightyOne » Thu Apr 09, 2009 6:38 pm

es/pip wrote:
MightyOne wrote:The more and more I play with the idea of self engulfing candles the more I love it.

The idea that last night was last night and today is today.

A percentage of the range of the current candle engulfs its self
based on its percent completion.

There will only be one highest price and one lowest price this time
period.
If the market makes a new highest price then engulf from the low & if the market makes a new lowest price then engulf from the high.

I am long/short from the engulfing line :shock:

The open price is shifted toward the low as price is making new lows and eventually rests on the lowest price when the candle is 100% complete and vise versa.

Trading is about knowing where you are going within a time period and reaching goals that are achievable within that time frame.

The above is used in tandem with the method of reinvesting profits.



so you like this more than the dynamic trend lines?

i haven't looked at this yet but i am going to this weekend

probably shouldn't post this chart bec off the way it formed---but as it was forming this line was valid---- took it for 5.5%



Image


It is all trading from a line until you reach your goal.

One is not necessarily better than the other as they
only offer technical starting points to day trade with
the bigger picture.

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inzider
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Postby inzider » Thu Apr 09, 2009 9:42 pm

Hi back all!

Ok ok, Im at the pages 260 of this thread... need to love it, no joke.
I do! How can't I.

Mo i took your answer to my first question on the bad side but now i understand the setop by step approch you have.
Another 130 pages ... and i'll be fully whit you all.

OK....

Can someone send me the times/sales and the current Tf Range indicators ?!?
Are they only for donations peeps?!?

Took last 2 days to read and look for those, any help would be apreciated.

------------

By the way, i was already profitable, but this thing just rock hard!

DRAIN THE BANKS!! ;)

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