Never Lose Again

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11396
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed May 06, 2009 6:22 am

PINKPANTHER5 wrote:Advanced GET had a nice elliot waves. Did you ever code one TRO?


:D


No.
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.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Wed May 06, 2009 6:36 am

TheRumpledOne wrote:
PINKPANTHER5 wrote:Advanced GET had a nice elliot waves. Did you ever code one TRO?


:D


No.


Elliot and Neo waves are very subjective so I can't understand how they could possibly be coded without the program asking you to interpret some of the fuzzy waves.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Wed May 06, 2009 7:10 am

It is so easy that I am tempted to drink twice as much beer...

Risk 1% of high water mark ( if you have less than $1,000 then $1,000 is your high water mark).

20 pips = 1%

Wait for a daily or greater new high/low

When price retraces 5 or more pips click the button with a 20 pip SL.

If it is just single day new highs N' lows then I'd target 3-5%

If it is multi day new highs N' lows then I'd target 5%+

Weekly new highs N' lows I'd target 12-20%

Monthly new highs N' lows I'd target ~30-40%

Yearly new highs N' lows I'd target ~75-130%

There is only 1 highest and 1 lowest price with a bunch of gyrations in between no matter which time frame candle you are looking at.
As TRO says, price eventually exhausts its self and moves in your direction.
The duration that you hold for is based on the time period you feel like trading.
Eventually you will more than make up your losses if you TRY to hold for 80 pips or more.

Image


THE MARKET IS ALWAYS TRYING TO BRING PROFITS (and accounts :wink:) TO ZERO
THAT IS THE MARKETS JOB

Image




zapzinig wrote:
MightyOne wrote: I have not even touched the period converter since TRO was kind enough to modify the pip change indicator for me.


Hi MO,

How do you use the pip change indicator? Can you explain breifly what you are looking for.

Thanks,
-ZZ

User avatar
prochargedmopar
rank: 5000+ posts
rank: 5000+ posts
Posts: 5544
Joined: Sat Dec 20, 2008 6:07 am
Reputation: 8
Location: Granbury, TX
Gender: Male
Contact:

Postby prochargedmopar » Wed May 06, 2009 8:29 am

MightyOne wrote:
"Wait for a daily or greater new high/low"

$$This simplifies things.$$

What if 20 pips is 5%? :smt077

Oh yeah, you said we'd be trying to make 89Gadzillion dollars.
:shock:
#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

User avatar
rowdy
rank: 150+ posts
rank: 150+ posts
Posts: 157
Joined: Fri Feb 20, 2009 1:22 pm
Reputation: 0
Location: Murfreesboro, Tennessee
Gender: Male

Postby rowdy » Wed May 06, 2009 10:45 am

MightyOne wrote:It is so easy that I am tempted to drink twice as much beer...

Risk 1% of high water mark ( if you have less than $1,000 then $1,000 is your high water mark).

20 pips = 1%

Wait for a daily or greater new high/low

When price retraces 5 or more pips click the button with a 20 pip SL.

If it is just single day new highs N' lows then I'd target 3-5%

If it is multi day new highs N' lows then I'd target 5%+

Weekly new highs N' lows I'd target 12-20%

Monthly new highs N' lows I'd target ~30-40%

Yearly new highs N' lows I'd target ~75-130%

There is only 1 highest and 1 lowest price with a bunch of gyrations in between no matter which time frame candle you are looking at.
As TRO says, price eventually exhausts its self and moves in your direction.
The duration that you hold for is based on the time period you feel like trading.
Eventually you will more than make up your losses if you TRY to hold for 80 pips or more.

Image


THE MARKET IS ALWAYS TRYING TO BRING PROFITS (and accounts :wink:) TO ZERO
THAT IS THE MARKETS JOB

Image




zapzinig wrote:
MightyOne wrote: I have not even touched the period converter since TRO was kind enough to modify the pip change indicator for me.


Hi MO,

How do you use the pip change indicator? Can you explain breifly what you are looking for.

Thanks,
-ZZ


MO,
Sorry to ask such a stupid question but how do you know when price has hit a new daily high/low? It is easy to see in historical data but not easy to determine real time. If price starts going down starting a midnight and keeps going, technically every new candle is a new daily low.

Please dont be offended. You are the teacher and I am the pupil. I am simply trying to learn.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

zapzinig
rank: 50+ posts
rank: 50+ posts
Posts: 131
Joined: Fri May 19, 2006 8:57 pm
Reputation: 0
Gender: None specified

Postby zapzinig » Wed May 06, 2009 1:26 pm

MO,

Thanks for your insight on how you use the pip change indicator.

-ZZ

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Wed May 06, 2009 4:28 pm

"...how do you know when price has hit a new daily high/low? It is easy to see in historical data but not easy to determine real time. If price starts going down starting a midnight and keeps going, technically every new candle is a new daily low."

TRO2009_MPMM_PIPCHANGE_HL

If you missed the yearly highest then you would favor monthly highs over monthly lows.
If you missed the monthly highest then you would favor daily highs over daily lows.
If you missed the daily highest then you would favor 4hr highs over 4hr lows.

If you believe that the lows have reached a technically significant level then you could reverse this bias.

That said...

I pretty much just look at the Daily, Weekly, Monthly, & Yearly chart and say to myself:

1. This is my plan for accomplishing my short term goals
2. This is my plan for accomplishing any longer term goals
3. These are areas that I want to watch and see how price reacts because I may be interested in taking this chart back in the opposite direction.

It is just a lot of guessing mixed with a lot of doing...

rowdy wrote:
MightyOne wrote:It is so easy that I am tempted to drink twice as much beer...

Risk 1% of high water mark ( if you have less than $1,000 then $1,000 is your high water mark).

20 pips = 1%

Wait for a daily or greater new high/low

When price retraces 5 or more pips click the button with a 20 pip SL.

If it is just single day new highs N' lows then I'd target 3-5%

If it is multi day new highs N' lows then I'd target 5%+

Weekly new highs N' lows I'd target 12-20%

Monthly new highs N' lows I'd target ~30-40%

Yearly new highs N' lows I'd target ~75-130%

There is only 1 highest and 1 lowest price with a bunch of gyrations in between no matter which time frame candle you are looking at.
As TRO says, price eventually exhausts its self and moves in your direction.
The duration that you hold for is based on the time period you feel like trading.
Eventually you will more than make up your losses if you TRY to hold for 80 pips or more.

Image


THE MARKET IS ALWAYS TRYING TO BRING PROFITS (and accounts :wink:) TO ZERO
THAT IS THE MARKETS JOB

Image




zapzinig wrote:
MightyOne wrote: I have not even touched the period converter since TRO was kind enough to modify the pip change indicator for me.


Hi MO,

How do you use the pip change indicator? Can you explain breifly what you are looking for.

Thanks,
-ZZ


MO,
Sorry to ask such a stupid question but how do you know when price has hit a new daily high/low? It is easy to see in historical data but not easy to determine real time. If price starts going down starting a midnight and keeps going, technically every new candle is a new daily low.

Please dont be offended. You are the teacher and I am the pupil. I am simply trying to learn.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11396
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed May 06, 2009 4:39 pm

Image

I created a compass to show where price is (in pips above/below) in relation to the highs/lows.

(x) means x bars ago
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.

User avatar
rowdy
rank: 150+ posts
rank: 150+ posts
Posts: 157
Joined: Fri Feb 20, 2009 1:22 pm
Reputation: 0
Location: Murfreesboro, Tennessee
Gender: Male

Postby rowdy » Wed May 06, 2009 4:53 pm

MightyOne wrote:"...how do you know when price has hit a new daily high/low? It is easy to see in historical data but not easy to determine real time. If price starts going down starting a midnight and keeps going, technically every new candle is a new daily low."

TRO2009_MPMM_PIPCHANGE_HL

If you missed the yearly highest then you would favor monthly highs over monthly lows.
If you missed the monthly highest then you would favor daily highs over daily lows.
If you missed the daily highest then you would favor 4hr highs over 4hr lows.

If you believe that the lows have reached a technically significant level then you could reverse this bias.

That said...

I pretty much just look at the Daily, Weekly, Monthly, & Yearly chart and say to myself:

1. This is my plan for accomplishing my short term goals
2. This is my plan for accomplishing any longer term goals
3. These are areas that I want to watch and see how price reacts because I may be interested in taking this chart back in the opposite direction.

It is just a lot of guessing mixed with a lot of doing...

rowdy wrote:
MightyOne wrote:It is so easy that I am tempted to drink twice as much beer...

Risk 1% of high water mark ( if you have less than $1,000 then $1,000 is your high water mark).

20 pips = 1%

Wait for a daily or greater new high/low

When price retraces 5 or more pips click the button with a 20 pip SL.

If it is just single day new highs N' lows then I'd target 3-5%

If it is multi day new highs N' lows then I'd target 5%+

Weekly new highs N' lows I'd target 12-20%

Monthly new highs N' lows I'd target ~30-40%

Yearly new highs N' lows I'd target ~75-130%

There is only 1 highest and 1 lowest price with a bunch of gyrations in between no matter which time frame candle you are looking at.
As TRO says, price eventually exhausts its self and moves in your direction.
The duration that you hold for is based on the time period you feel like trading.
Eventually you will more than make up your losses if you TRY to hold for 80 pips or more.

Image


THE MARKET IS ALWAYS TRYING TO BRING PROFITS (and accounts :wink:) TO ZERO
THAT IS THE MARKETS JOB

Image




zapzinig wrote:
MightyOne wrote: I have not even touched the period converter since TRO was kind enough to modify the pip change indicator for me.


Hi MO,

How do you use the pip change indicator? Can you explain breifly what you are looking for.

Thanks,
-ZZ


MO,
Sorry to ask such a stupid question but how do you know when price has hit a new daily high/low? It is easy to see in historical data but not easy to determine real time. If price starts going down starting a midnight and keeps going, technically every new candle is a new daily low.

Please dont be offended. You are the teacher and I am the pupil. I am simply trying to learn.


MO,
Thank you very much.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Wed May 06, 2009 5:25 pm

More risk is just more risk as more profit is more profit.

The question is weather or not you can increase your profit as easily as you increase your level of risk.

If you lost 2 trades would you question your 3rd trade and if you lost your 3rd trade would you question your 4th having lost 15% of your account in one day?

If 15% of your account is $150,000 you might be sweating bullets because not too many jobs out there pay over $1,000,000 a year.

As much as I believe that I can get away with 8% per trade I still risk 1%.

Poker is a game of great skill, but it is also a game of bad beats.
A poker professional will not risk a large portion of his stack on any one hand believing that his skill is more valuable than the decision of a single hand.

Poker and trading have a lot in common...

prochargedmopar wrote:MightyOne wrote:
"Wait for a daily or greater new high/low"

$$This simplifies things.$$

What if 20 pips is 5%? :smt077

Oh yeah, you said we'd be trying to make 89Gadzillion dollars.
:shock:

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”