Never Lose Again

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
es/pip
rank: 1000+ posts
rank: 1000+ posts
Posts: 2898
Joined: Wed Jan 21, 2009 9:28 pm
Reputation: 0
Gender: None specified

Postby es/pip » Mon Jul 06, 2009 3:56 pm

zapzinig wrote:Thanks es/pip,
I have learned a great deal from your charts, they are the most basic and most powerful. These setups happen over and over again, most of the time they work out exactly to the pip. When they go wrong you know and you take action and exit with as little loss as possible. My hard SL is 30 pips (3% of account), as I get better on the entries, I can see moving my SL to 19-23 pips and adding additional lots to keep my risk to 3%

If you watch and focus on how the market responds when it reaches a zline/zone you can guage market reaction.

Thanks MO and es/pip for your insight charts and guidance.

--ZZ

es/pip wrote:
zapzinig wrote:A few zline trades for today. I am only trading GBPUSD. There are more than enough opportunities to grow your account 2-5% a day conservatively without risking more than 3% of your account. I look for one maybe 2 trades a day at most!

I plan to execute flawlessly this one strategy on just one pair. For the past month my live account has grown 46%. I plan on only trading 10-15 days per month since there may not be perfect setups eveyday. Not trading is ok if the probability that you seek is not present.

My major hurdle is remaining focused and not being distracted by the next new indicator. I have deleted all but 12 indicators. They are probably not even needed. A bare chart with hand drawn horizontal lines is really all I need.


--ZZ

Image

Image

Image

Image


great trading

this is exactly what MO was saying the other day-------- it works for some people bec they are discretionary traders

this way of trading is not a "system" you have to use some common sense with it.

zapzing pretty much summed it up when he said this "A bar chart with hand drawn horizontal lines is really all I need."

i hope that the ones that have not been able to grasp this notice AGAIN that here is yet another person that is trading the same thought process but just a little bit different, and amazingly it works for him/her yet again.


1. take all the crap of your charts

2. see held profit---based on momentum

3. act accordingly

4. zero out other traders

5. repeat


ehhhhhhhh, dont thank me as i learned 95% of all this from MO.

one thing that you may want to look into for the entries is( i also learned this from MO)---- enter in 1/4 or 1/3 positions. put out a 1/4 to test the waters and if it holds then add into it as it goes your way. Yes you get a worse price on a full position but if it blows through your initial entry and you get stopped for -20 pips then u really only lose 5 pips since it was a 1/4 of size.

another trader i know that trades stocks and trades huge position sizes always has said when asked how he makes so much

" I pile into my winners and cut my losers short, by entering pieces at a time. i am an idiot, if i can do this anyone can."

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

User avatar
monolisa
rank: 150+ posts
rank: 150+ posts
Posts: 351
Joined: Fri Jun 12, 2009 11:38 am
Reputation: 0
Location: All Quiet on the Western Front
Gender: None specified

Postby monolisa » Mon Jul 06, 2009 4:21 pm

Thanks es/pip for the good advice.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

User avatar
cfabian
rank: 150+ posts
rank: 150+ posts
Posts: 466
Joined: Tue Nov 04, 2008 3:37 pm
Reputation: 0
Gender: Male

Postby cfabian » Mon Jul 06, 2009 5:32 pm

My issue with piling into positive trades is that new additions are easily brought into the negative (just as you mentioned it is worse price), thus harming or zeroing your overall trade or even putting it in reds.

I'd like to learn more about where or when is the moment to add positions?

Thanks



es/pip wrote:
zapzinig wrote:Thanks es/pip,
I have learned a great deal from your charts, they are the most basic and most powerful. These setups happen over and over again, most of the time they work out exactly to the pip. When they go wrong you know and you take action and exit with as little loss as possible. My hard SL is 30 pips (3% of account), as I get better on the entries, I can see moving my SL to 19-23 pips and adding additional lots to keep my risk to 3%

If you watch and focus on how the market responds when it reaches a zline/zone you can guage market reaction.

Thanks MO and es/pip for your insight charts and guidance.

--ZZ

es/pip wrote:
zapzinig wrote:A few zline trades for today. I am only trading GBPUSD. There are more than enough opportunities to grow your account 2-5% a day conservatively without risking more than 3% of your account. I look for one maybe 2 trades a day at most!

I plan to execute flawlessly this one strategy on just one pair. For the past month my live account has grown 46%. I plan on only trading 10-15 days per month since there may not be perfect setups eveyday. Not trading is ok if the probability that you seek is not present.

My major hurdle is remaining focused and not being distracted by the next new indicator. I have deleted all but 12 indicators. They are probably not even needed. A bare chart with hand drawn horizontal lines is really all I need.


--ZZ

Image

Image

Image

Image


great trading

this is exactly what MO was saying the other day-------- it works for some people bec they are discretionary traders

this way of trading is not a "system" you have to use some common sense with it.

zapzing pretty much summed it up when he said this "A bar chart with hand drawn horizontal lines is really all I need."

i hope that the ones that have not been able to grasp this notice AGAIN that here is yet another person that is trading the same thought process but just a little bit different, and amazingly it works for him/her yet again.


1. take all the crap of your charts

2. see held profit---based on momentum

3. act accordingly

4. zero out other traders

5. repeat


ehhhhhhhh, dont thank me as i learned 95% of all this from MO.

one thing that you may want to look into for the entries is( i also learned this from MO)---- enter in 1/4 or 1/3 positions. put out a 1/4 to test the waters and if it holds then add into it as it goes your way. Yes you get a worse price on a full position but if it blows through your initial entry and you get stopped for -20 pips then u really only lose 5 pips since it was a 1/4 of size.

another trader i know that trades stocks and trades huge position sizes always has said when asked how he makes so much

" I pile into my winners and cut my losers short, by entering pieces at a time. i am an idiot, if i can do this anyone can."

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

Postby zapzinig » Mon Jul 06, 2009 5:39 pm

I have scaled into a few of the trades last month 1/3 at a time, I noticed I was entering too soon looking at m5 and m15 and getting overly anxious, so to simplify until I am ready, I decided one entry price, one exit price.

As I gain more experience, I will use 1/3 position and scale in. Right now I am focusing on H1 entries off H1 when in line with H4 and D1. There is a lot of waiting and patience but when a zline is hit the market moves in your favor fast, if it doesn't I exit as fast as I can as close to even as possible and wait for a new setup.

-ZZ
es/pip wrote:
ehhhhhhhh, dont thank me as i learned 95% of all this from MO.

one thing that you may want to look into for the entries is( i also learned this from MO)---- enter in 1/4 or 1/3 positions. put out a 1/4 to test the waters and if it holds then add into it as it goes your way. Yes you get a worse price on a full position but if it blows through your initial entry and you get stopped for -20 pips then u really only lose 5 pips since it was a 1/4 of size.

another trader i know that trades stocks and trades huge position sizes always has said when asked how he makes so much

" I pile into my winners and cut my losers short, by entering pieces at a time. i am an idiot, if i can do this anyone can."

User avatar
es/pip
rank: 1000+ posts
rank: 1000+ posts
Posts: 2898
Joined: Wed Jan 21, 2009 9:28 pm
Reputation: 0
Gender: None specified

Postby es/pip » Mon Jul 06, 2009 7:35 pm

cfabian wrote:My issue with piling into positive trades is that new additions are easily brought into the negative (just as you mentioned it is worse price), thus harming or zeroing your overall trade or even putting it in reds.

I'd like to learn more about where or when is the moment to add positions?

Thanks



es/pip wrote:
zapzinig wrote:Thanks es/pip,
I have learned a great deal from your charts, they are the most basic and most powerful. These setups happen over and over again, most of the time they work out exactly to the pip. When they go wrong you know and you take action and exit with as little loss as possible. My hard SL is 30 pips (3% of account), as I get better on the entries, I can see moving my SL to 19-23 pips and adding additional lots to keep my risk to 3%

If you watch and focus on how the market responds when it reaches a zline/zone you can guage market reaction.

Thanks MO and es/pip for your insight charts and guidance.

--ZZ

es/pip wrote:
zapzinig wrote:A few zline trades for today. I am only trading GBPUSD. There are more than enough opportunities to grow your account 2-5% a day conservatively without risking more than 3% of your account. I look for one maybe 2 trades a day at most!

I plan to execute flawlessly this one strategy on just one pair. For the past month my live account has grown 46%. I plan on only trading 10-15 days per month since there may not be perfect setups eveyday. Not trading is ok if the probability that you seek is not present.

My major hurdle is remaining focused and not being distracted by the next new indicator. I have deleted all but 12 indicators. They are probably not even needed. A bare chart with hand drawn horizontal lines is really all I need.


--ZZ

Image

Image

Image

Image


great trading

this is exactly what MO was saying the other day-------- it works for some people bec they are discretionary traders

this way of trading is not a "system" you have to use some common sense with it.

zapzing pretty much summed it up when he said this "A bar chart with hand drawn horizontal lines is really all I need."

i hope that the ones that have not been able to grasp this notice AGAIN that here is yet another person that is trading the same thought process but just a little bit different, and amazingly it works for him/her yet again.


1. take all the crap of your charts

2. see held profit---based on momentum

3. act accordingly

4. zero out other traders

5. repeat


ehhhhhhhh, dont thank me as i learned 95% of all this from MO.

one thing that you may want to look into for the entries is( i also learned this from MO)---- enter in 1/4 or 1/3 positions. put out a 1/4 to test the waters and if it holds then add into it as it goes your way. Yes you get a worse price on a full position but if it blows through your initial entry and you get stopped for -20 pips then u really only lose 5 pips since it was a 1/4 of size.

another trader i know that trades stocks and trades huge position sizes always has said when asked how he makes so much

" I pile into my winners and cut my losers short, by entering pieces at a time. i am an idiot, if i can do this anyone can."


yeah im with ya on all of that. unfortunately there is no "when this happens do this" type of answer at least i don't know of one.

i look to where i have a zline based on momentum and then if the PA looks favorable i enter 1/4 or 1/3 or whatever and then when it starts to go i get in more. Sometimes it may be based on a smaller time frame bar formation or when we break above a momentum bar on smaller time frame or sometimes i just get in------- some times i dont avg in and i get in when it starts going. Every trade is a little different, be that from how i feel at the time, what i see, or how i react to what i feel is happening.

if i have a large target in mind i am more liberal with my entries--- if i have a small target i want to be in quicker.

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

had a bunch of little scalps not really worth posting +5 to +7-10 here and there

and this one----- similar trade to zapzinig, based on where it was coming into on the daily and then you can see the obvious held profit that i was shooting for.

i trade pretty aggressive as far as my money management, but i am willing to lose 4% on a full position if i am wrong

this trade was good for 26% ROI--------

Image

i wanted into this trade all the way up and never really saw a good area had one chance down at the lower yellow line but felt like i missed it at the time. i would not have held it all the way up anyway bec i see other targets that i would have gotten out at.

look at the bars and what they are telling you--- each one tells a short story

Image

like MO has said over and over------- momentum is they key and when you have momentum then you have traders sitting with profit----- then you get in on their exit and then zero out the next group

its not really easy but sure is pretty damn simple.

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

User avatar
es/pip
rank: 1000+ posts
rank: 1000+ posts
Posts: 2898
Joined: Wed Jan 21, 2009 9:28 pm
Reputation: 0
Gender: None specified

Postby es/pip » Mon Jul 06, 2009 8:09 pm

golf time--------------------------



Image

Image

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 » Tue Jul 07, 2009 9:01 pm

MightyOne wrote:The question was whether or not it is possible to trade the momo bar (event) and not get burnt.

If you read a few posts back where I described the actions traders should take if they want to be more than mediocre then you would know that we are waiting for MOVEMENT ie MOMENTUM.

So if you are waiting for momentum and momentum is defined by a CLOSED body then how do you trade the soon to be momentum candle?

1. LUCK
2. Momentum of a smaller time frame and holding until the longer term close.

What usually happens after momentum?

Traders are sitting with profit.

What usually happens when traders are sitting with a profit?

Do you really need to know anything else?

Position in the longer term picture would be nice!

Can you trade chart formations, breakouts, congestion, and trends?

Of course you can...

But that is not what I am talking about here.

To recap:

1. I am a postmomentum trader
2. postmomentum traders wait for movement as a sign of both activity and held profits.
3. We can trade in either direction AFTER movement
4. Our only tools are movement, support, resistance, & retracement.

PS: If you are talented enough to trade without market movement then by all means ;)



prochargedmopar wrote:
MightyOne wrote: So is it possible to trade the event and not get burnt?

Thanks for your help.

Lis


A short term trade would have to turn into a larger move and longer term trade.

Retreat prior to a correction and then enter in the previous direction.

Trading is a delicate balance between short term momentum and long term position.


TRO's said it before.

#1New high/low (breakout)
#2Reversal from (correction)
#3Consolidaton (my addition)
#4Return to New high/low (main trend)

Is there anything else a market can do? reallly?
I think there are tallented individuals that trade them ALL


Ahhhhh,

The truth will "make" you free.

I like answers that give useful information that will help me to grow as a trader.

Thankyou.
#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

hoss
rank: <50 posts
rank: <50 posts
Posts: 6
Joined: Fri Apr 10, 2009 7:43 pm
Reputation: 0
Gender: None specified

Postby hoss » Tue Jul 07, 2009 9:14 pm

I'm using the 7 semafors on the 5 minute chart that somebody had posted earlier and it's still working well for me. It's all I use except for a fib to see some profit targets.

User avatar
monolisa
rank: 150+ posts
rank: 150+ posts
Posts: 351
Joined: Fri Jun 12, 2009 11:38 am
Reputation: 0
Location: All Quiet on the Western Front
Gender: None specified

Postby monolisa » Tue Jul 07, 2009 11:37 pm

Hi MO,

Are you able to comment on this please? Much appreciated.

Thanks.

Lis

monolisa wrote:Hi MO,

So if we trade the event, then we could enter a position when there's a breakout (momentum) and exit/re-enter based on the price action (correction/real move) of higher TF chart? Also, what do you mean by "long term position"?

On the other hand, if we trade like you (postmomentum trader) then we can enter either at the beginning of the correction or the real move, or both. In a nut shell, movement/momo gives you the signal, and using support and resistance (defined by the mighty zone and highest high/lowest low of the momentum) you are able to identiy the correction and the real move (both are retracements).

Thanks.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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 Jul 08, 2009 2:26 am

A breakout in not an indication of momentum...

If there is one thing that is critical to your success is the ability to let go.
You shouldn't be twitchy to catch a move right from the beginning.

What do I mean by long term position?

Well that takes us right back to the talks of daily bar and greater extremes.




monolisa wrote:Hi MO,

Are you able to comment on this please? Much appreciated.

Thanks.

Lis

monolisa wrote:Hi MO,

So if we trade the event, then we could enter a position when there's a breakout (momentum) and exit/re-enter based on the price action (correction/real move) of higher TF chart? Also, what do you mean by "long term position"?

On the other hand, if we trade like you (postmomentum trader) then we can enter either at the beginning of the correction or the real move, or both. In a nut shell, movement/momo gives you the signal, and using support and resistance (defined by the mighty zone and highest high/lowest low of the momentum) you are able to identiy the correction and the real move (both are retracements).

Thanks.

Lis

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


Return to “TheRumpledOne”