Never Lose Again

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***FX-JEDI***
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Postby ***FX-JEDI*** » Fri Aug 21, 2009 11:44 am

razorboy wrote:Trading Days #of Trades Winners Losers Positive Pips Negative Pips Net Pips Pips Per Day
06/19/09 5 8 3 5 346 -100 246 49.2
06/26/09 5 8 1 7 106 -54 52 10.4
07/03/09 5 8 1 7 105 -48 57 11.4
07/10/09 5 9 4 5 457 -44 413 82.6
07/17/09 5 9 3 6 330 -88 242 48.4
07/24/09 5 9 4 5 438 -67 371 74.3
07/31/09 5 8 1 7 121 -102 19 3.8
08/07/09 5 8 1 7 100 -44 56 11.2
08/14/09 5 10 2 8 242 -92 149 29.94
08/21/09 5 7 3 4 385 45 430 86.04

And yes, that last week the losing column shows positive 45 pips, not negative......

about 8 trades a week on average.......

I post these weekly numbers not to show my brilliance - but as a thank you to MO and as proof that yes an idiot can learn this, if you forget all your bad habits. Sorry for the formatting


BRILLIANT RAZORBOY!! :D There's hope for me also...This website has really kicked my trading into gear :)
what is the positive 45 pips all about?

Thanks ***FX-JEDI***
Its better to be out of the market wishing you were in,
then being in the market wishing you were out.....

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***FX-JEDI***
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Postby ***FX-JEDI*** » Fri Aug 21, 2009 12:23 pm

This is what I'm seeing on GBP/JYP Daily,
Possible new swing low @ 61.8 Fib level bounce, at MZ area, target the Upper Red MZ area 500+ pips away.. My thoughts only not a trade recommendation.

Any thoughts anyone??

Went long last nite on GBP/JYP got 28 pips, was up 71 @ one stage, but failed to take profit as was asleep. got out next morning...lol, missed good short trade tho..

I noticed a text box missing in one of my GBP/USD pics posted, I must of uploaded it before I saved it so will repost pic, I had arrows going to the current 61.8 & 78.6 fib levels, was saying here it areas market may bounce, esp 78.6 level as it was in 4hr MZ area.
price did bounce off these levels as I thought they may have down to the 4hr Buy MZ.


Hmm I need to trade what I think more...
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Its better to be out of the market wishing you were in,

then being in the market wishing you were out.....

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***FX-JEDI***
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Postby ***FX-JEDI*** » Fri Aug 21, 2009 12:34 pm

brettnchrism wrote:FX good explination. I don't know what KR means. Nice trade on GJ. Im still on EJ babysteps to GJ.

Are you using fibb retracements drawn on H4 or H1?

Thanks Im getting better but still alot to learn.


Thanks,
Yes I draw Fibs on all timeframes, when looking for long, I pull First fib from most recent swing Hi down to most recent swing Lo, then keep pulling fibs down to next swing Lo, & so forth whilst keeping same swing Hi, so there will be a 1hr fib that will match a 4hr fib, just there will be more candles in between.
A swing Hi or Lo is where there is a candle that has for a swing Hi 2 candles to the right & left of it, that are lower then its Hi & viceversa for swing Lo, just in case you didn't know.
I also pull fibs on the previous days Hi & Lo of the current daily candle.

ok I better stop, i've posted enough, tonight..
Its better to be out of the market wishing you were in,

then being in the market wishing you were out.....

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razorboy
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Postby razorboy » Fri Aug 21, 2009 12:48 pm

positive 45 pip loss.............

I try to make my trading as close to a binary event as possible, within certain parameters - one of them being my profit target is almost always over 100 pips from my entry and the other being that I close all my trades by 5 pm est - so sometimes this leaves me in a situation where I am up in a trade - say 70 pips, but it is time to close. In my world and my rules, this is a loss.

Doesnt happen that often
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

http://thejoshkerbelproject.com/

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Postby brettnchrism » Fri Aug 21, 2009 2:29 pm

razorboy wrote:If you want to see something neat on the EJ (im sure it works on other pairs, just dont play them) - find yourself a Murrey Math Line plug in and set it so the lines are about 160 (156 to be exact) pips apart on a 5 minute chart and then use momo bars for your entries.....(long 5 pips above a bullish momo and short 5 pips below a bearish momo)

use the math lines as your profit targets
Razor, I have murray math lines but not sure how to set 156 apart? I have a input on the indi that says (P) i put in 156 there but not sure if that was correct. Can you post a screen shot of an entry and exit.

Thanks, Brett

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Postby brettnchrism » Fri Aug 21, 2009 2:32 pm

One trade today. Took a short position at sign of weakness. Took +20 got out getting close to news and glad I did.

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Postby brettnchrism » Fri Aug 21, 2009 2:33 pm

One trade today. Took a short position at sign of weakness. Took +20 got out getting close to news and glad I did.
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Postby razorboy » Fri Aug 21, 2009 2:38 pm

On the plug in I have there is a variable called mmperiod - set this to 1440 - play with your plug in variables until you see lines at 134.38, 135.94 and 132.81

brettnchrism wrote:
razorboy wrote:If you want to see something neat on the EJ (im sure it works on other pairs, just dont play them) - find yourself a Murrey Math Line plug in and set it so the lines are about 160 (156 to be exact) pips apart on a 5 minute chart and then use momo bars for your entries.....(long 5 pips above a bullish momo and short 5 pips below a bearish momo)

use the math lines as your profit targets
Razor, I have murray math lines but not sure how to set 156 apart? I have a input on the indi that says (P) i put in 156 there but not sure if that was correct. Can you post a screen shot of an entry and exit.

Thanks, Brett
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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prochargedmopar
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Postby prochargedmopar » Fri Aug 21, 2009 2:50 pm

razorboy wrote:Pro........

You sound like one of my trading partners -

its not about the number of losses you have. Depending on which "system" i use.........my win percentage is 15 to 30% with an EV of 2 to 4 - 2 to 3 trades a day. I say this not to show off, but to give you some encouragement as I was as clueless as you were until i started flipping quarters

once you have accurately defined your edge, it will all come to you. You need to think in terms of probabilities - buy the tops and sell the bottoms......when momentum comes into the market


prochargedmopar wrote:
es/pip wrote:tough action today


no momentum really anywhere to trade






i was +60 on the e/j at 1 point on the second trade----- target was 170ish pips i got zl'ed---- i honestly thought we were going to go up--- i liked the formation on the bars so i stayed in got out on 5 min close against me---- oh well

this week was made in the early parts with all the action we have had----- today blew--- lets see what the rest of the week brings----

on days like these you try to grab what you can and not get hurt---- or dont trade at all----lol

Image

Image


Whew,
I thought it was just me.

I did end up with 38.x live on 13 trades but it was a struggle.
Had two I thought were gonna take off when they were up around 10 pips and both ended in a small loss.
My first 2 losses of the week.
Lots of movement in market but it was always just as I exited and in the wrong direction.


I hear ya razorboy,
I understand and that is what I am so exited about...being able to have a small stop yet get big runs.....
I know exactly what M.O. means when he says your losses will cause you great laughter.
I've been doing it on demo....
What is a 15 pip stop when you've had 3 wins of 117/119/ and 185.
It means nothing......

If trading momo I do not see how you can lose 40% of the t ime. wtf??

From what I've seen on the 5m momo candles in the direction of the higher time frame it is almost a 90% win rate if you don't get greedy....
I mean some of those can go 30=50 pips with ease if you can hang in there.

And m.o. say...ONLY TRADE ONE BAR, but you look up from the 5m chart and your riding a 15m candle, and all of a sudden it turns into a 30m candle ect.....

Your tips are VERY much appreciated and the quarter flipping exercise has cemented something in my brain.
Odds baby, odds.

Now it's just a matter of applying the knowledge.
I've still got to work on rule #3. (completely accept risk and let it go)
It's a b#t*h.

thx
#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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Postby razorboy » Fri Aug 21, 2009 5:23 pm

At the right time of day, a 5 min momo bar is good for way more than just one bar.............

As to my other question, what do traders do with all their spare time...

http://dealbreaker.com/2009/08/help-me-help-you.php
http://dealbreaker.com/2009/08/opening-bell-082109.php
http://dealbreaker.com/2009/08/later-th ... orging.php
http://dealbreaker.com/2009/08/opening-bell-082009.php

anyone up for some binge eating?



prochargedmopar wrote:
razorboy wrote:Pro........

You sound like one of my trading partners -

its not about the number of losses you have. Depending on which "system" i use.........my win percentage is 15 to 30% with an EV of 2 to 4 - 2 to 3 trades a day. I say this not to show off, but to give you some encouragement as I was as clueless as you were until i started flipping quarters

once you have accurately defined your edge, it will all come to you. You need to think in terms of probabilities - buy the tops and sell the bottoms......when momentum comes into the market


prochargedmopar wrote:
es/pip wrote:tough action today


no momentum really anywhere to trade






i was +60 on the e/j at 1 point on the second trade----- target was 170ish pips i got zl'ed---- i honestly thought we were going to go up--- i liked the formation on the bars so i stayed in got out on 5 min close against me---- oh well

this week was made in the early parts with all the action we have had----- today blew--- lets see what the rest of the week brings----

on days like these you try to grab what you can and not get hurt---- or dont trade at all----lol

Image

Image


Whew,
I thought it was just me.

I did end up with 38.x live on 13 trades but it was a struggle.
Had two I thought were gonna take off when they were up around 10 pips and both ended in a small loss.
My first 2 losses of the week.
Lots of movement in market but it was always just as I exited and in the wrong direction.


I hear ya razorboy,
I understand and that is what I am so exited about...being able to have a small stop yet get big runs.....
I know exactly what M.O. means when he says your losses will cause you great laughter.
I've been doing it on demo....
What is a 15 pip stop when you've had 3 wins of 117/119/ and 185.
It means nothing......

If trading momo I do not see how you can lose 40% of the t ime. wtf??

From what I've seen on the 5m momo candles in the direction of the higher time frame it is almost a 90% win rate if you don't get greedy....
I mean some of those can go 30=50 pips with ease if you can hang in there.

And m.o. say...ONLY TRADE ONE BAR, but you look up from the 5m chart and your riding a 15m candle, and all of a sudden it turns into a 30m candle ect.....

Your tips are VERY much appreciated and the quarter flipping exercise has cemented something in my brain.
Odds baby, odds.

Now it's just a matter of applying the knowledge.
I've still got to work on rule #3. (completely accept risk and let it go)
It's a b#t*h.

thx
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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