Never Lose Again

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brettnchrism
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Postby brettnchrism » Wed Aug 19, 2009 8:41 pm

MightyOne wrote:
brettnchrism wrote:bought at the top on strong up move and suffered a little dd so I added at 50 percent. Price came back took out my target total +45 for the two entries. Not perfect but it worked this time.


Getting into a position one piece at a time is fine, but draw down is not a reason to add to a position.
I agree not to add to a draw down situation. My sentence structure was incorrect. I actually viewed the draw down as a retrace and added at the 50 pecent level and would have added at the z line if I had been paying attention. On the larger time frame we had a strong up move and I could see a target. This little retrace gave me a chance for some pips I missed from the original move up. Just something I saw maybe its not the best way to trade.

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brettnchrism
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Postby brettnchrism » Wed Aug 19, 2009 8:46 pm

Anyone else getting a time out 60 second error when trying to view this thread?

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es/pip
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Postby es/pip » Wed Aug 19, 2009 9:41 pm

brettnchrism wrote:bought at the top on strong up move and suffered a little dd so I added at 50 percent. Price came back took out my target total +45 for the two entries. Not perfect but it worked this time.



also just be aware that the further up you are buying the more held profit there is below you. Increasing the chances of them being zl'ed taking your long position down to them.

not saying you cant or shouldn't play it as it keeps going and going---- just that the risk increases
Bend over and assume the position for another 4 years of hope and change.

aliassmith
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Postby aliassmith » Wed Aug 19, 2009 9:42 pm

es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%

This is how I build a position using the H1 charts


nice trade

what was the 1st entry at 1.6312 based on?


es/pips,

I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.

It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.


ok

i was just wondering why you would enter in the place that you did on the first one

there is not really a right or wrong---- i was just curious

thanks


es/pips,

I am attaching another chart with a stage 1 and 2 position. If stage 3 was filled the order would have been worth 9.5%. Since stage 3 was not filled it was worth 3.3%.

How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method. Currently I only trust H1 since it is the highest timeframe that is the same for everyone in the world. Maybe I can work the lower timeframes, I'll have to research it.
ZL is at 1.6490 looks like I cut it off with my croping.



not sure i follow you

can you rephrase

"How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method."


i use h1-the monthly charts for my higher timeframes

btw

to post your charts

save the pic as something then go to tinypic.com and upload it then paste the img tag in the body of the message --- it is a lot easier and u do not have to crop anything


ES/PIPS,

I guess that was worded akward. I was just asking how many hours per day do you spend trading?

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es/pip
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Postby es/pip » Wed Aug 19, 2009 9:46 pm

dragon33 wrote:
es/pip wrote:thats the end of my day


MO, do you ever feel guilty for doing this?

I don't :twisted: :twisted: :twisted: :twisted:


Image

Image

Image

Image

Image


lol i know the feeling! It is just to stupid for words. If i knew this from the beginning oh man! Scalping was fun but very hard focusing and this is sooooooo easy!



with ya

if i knew this stuff when i first started trading ----- its scary to think where i would be now--

hell the next 5-10 years are scary now----- i try and not think about what will happen in that amount of time doing this.

if i can make enough $$ in the coming year or so maybe i can pay to have Obama impeached :D :shock:
Bend over and assume the position for another 4 years of hope and change.

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es/pip
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Postby es/pip » Wed Aug 19, 2009 9:57 pm

aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%

This is how I build a position using the H1 charts


nice trade

what was the 1st entry at 1.6312 based on?


es/pips,

I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.

It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.


ok

i was just wondering why you would enter in the place that you did on the first one

there is not really a right or wrong---- i was just curious

thanks


es/pips,

I am attaching another chart with a stage 1 and 2 position. If stage 3 was filled the order would have been worth 9.5%. Since stage 3 was not filled it was worth 3.3%.

How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method. Currently I only trust H1 since it is the highest timeframe that is the same for everyone in the world. Maybe I can work the lower timeframes, I'll have to research it.
ZL is at 1.6490 looks like I cut it off with my croping.



not sure i follow you

can you rephrase

"How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method."


i use h1-the monthly charts for my higher timeframes

btw

to post your charts

save the pic as something then go to tinypic.com and upload it then paste the img tag in the body of the message --- it is a lot easier and u do not have to crop anything


ES/PIPS,

I guess that was worded akward. I was just asking how many hours per day do you spend trading?


usually 12-16 ish

it is always different--- but i start out committed to trade at least the first 3 hrs of asian, london and us sessions----- then depending on how much movement there is will result if i continue to sit here.

but, i also have a roll away cot in my office just in case--- everyone i know thinks i am nuts---- :D
Bend over and assume the position for another 4 years of hope and change.

aliassmith
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Postby aliassmith » Wed Aug 19, 2009 10:19 pm

es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%

This is how I build a position using the H1 charts


nice trade

what was the 1st entry at 1.6312 based on?


es/pips,

I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.

It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.


ok

i was just wondering why you would enter in the place that you did on the first one

there is not really a right or wrong---- i was just curious

thanks


es/pips,

I am attaching another chart with a stage 1 and 2 position. If stage 3 was filled the order would have been worth 9.5%. Since stage 3 was not filled it was worth 3.3%.

How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method. Currently I only trust H1 since it is the highest timeframe that is the same for everyone in the world. Maybe I can work the lower timeframes, I'll have to research it.
ZL is at 1.6490 looks like I cut it off with my croping.



not sure i follow you

can you rephrase

"How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method."


i use h1-the monthly charts for my higher timeframes

btw

to post your charts

save the pic as something then go to tinypic.com and upload it then paste the img tag in the body of the message --- it is a lot easier and u do not have to crop anything


ES/PIPS,

I guess that was worded akward. I was just asking how many hours per day do you spend trading?


usually 12-16 ish

it is always different--- but i start out committed to trade at least the first 3 hrs of asian, london and us sessions----- then depending on how much movement there is will result if i continue to sit here.

but, i also have a roll away cot in my office just in case--- everyone i know thinks i am nuts---- :D


es/pips,

you are nuts, just playing :) Well If you spend that much time then I don't think I'll change what I am doing to much then. I figured I will have to spend about that much time also. I was hoping you was only spending about 4 hours a day and I was going to figure out how you trade :)

aliassmith
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Postby aliassmith » Wed Aug 19, 2009 10:22 pm

es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%

This is how I build a position using the H1 charts


nice trade

what was the 1st entry at 1.6312 based on?


es/pips,

I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.

It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.


ok

i was just wondering why you would enter in the place that you did on the first one

there is not really a right or wrong---- i was just curious

thanks


es/pips,

I am attaching another chart with a stage 1 and 2 position. If stage 3 was filled the order would have been worth 9.5%. Since stage 3 was not filled it was worth 3.3%.

How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method. Currently I only trust H1 since it is the highest timeframe that is the same for everyone in the world. Maybe I can work the lower timeframes, I'll have to research it.
ZL is at 1.6490 looks like I cut it off with my croping.



not sure i follow you

can you rephrase

"How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method."


i use h1-the monthly charts for my higher timeframes

btw

to post your charts

save the pic as something then go to tinypic.com and upload it then paste the img tag in the body of the message --- it is a lot easier and u do not have to crop anything


ES/PIPS,

I guess that was worded akward. I was just asking how many hours per day do you spend trading?


usually 12-16 ish

it is always different--- but i start out committed to trade at least the first 3 hrs of asian, london and us sessions----- then depending on how much movement there is will result if i continue to sit here.

but, i also have a roll away cot in my office just in case--- everyone i know thinks i am nuts---- :D


es/pips,

you are nuts, just playing :) Well If you spend that much time then I don't think I'll change what I am doing to much then. I figured I will have to spend about that much time also. I was hoping you was only spending about 4 hours a day and I was going to figure out how you trade :)

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marypipins
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Postby marypipins » Wed Aug 19, 2009 10:52 pm

MonoLisa...

What makes you think Mo is kidding? What I don't understand is how a caveman gets power to his cave to run a computer? lol
Lisa

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es/pip
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Postby es/pip » Wed Aug 19, 2009 11:11 pm

aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:
es/pip wrote:
aliassmith wrote:Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%

This is how I build a position using the H1 charts


nice trade

what was the 1st entry at 1.6312 based on?


es/pips,

I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.

It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.


ok

i was just wondering why you would enter in the place that you did on the first one

there is not really a right or wrong---- i was just curious

thanks


es/pips,

I am attaching another chart with a stage 1 and 2 position. If stage 3 was filled the order would have been worth 9.5%. Since stage 3 was not filled it was worth 3.3%.

How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method. Currently I only trust H1 since it is the highest timeframe that is the same for everyone in the world. Maybe I can work the lower timeframes, I'll have to research it.
ZL is at 1.6490 looks like I cut it off with my croping.



not sure i follow you

can you rephrase

"How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method."


i use h1-the monthly charts for my higher timeframes

btw

to post your charts

save the pic as something then go to tinypic.com and upload it then paste the img tag in the body of the message --- it is a lot easier and u do not have to crop anything


ES/PIPS,

I guess that was worded akward. I was just asking how many hours per day do you spend trading?


usually 12-16 ish

it is always different--- but i start out committed to trade at least the first 3 hrs of asian, london and us sessions----- then depending on how much movement there is will result if i continue to sit here.

but, i also have a roll away cot in my office just in case--- everyone i know thinks i am nuts---- :D


es/pips,

you are nuts, just playing :) Well If you spend that much time then I don't think I'll change what I am doing to much then. I figured I will have to spend about that much time also. I was hoping you was only spending about 4 hours a day and I was going to figure out how you trade :)



at the same time it just depends on what you want out of it

with the right money management there is no need to make 100-200 pips a day

it just depends on how things look

some days i trade all 3 sessions---

some days i sleep thru the euro session

some days i dont trade the us session

today i stopped at 11 am est

i knew from the way that the 1-4r bars were forming that there was going to be a good chance for good movement in the asain/euro session and the start of the us session
Bend over and assume the position for another 4 years of hope and change.

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