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es/pip
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Postby es/pip » Fri Aug 28, 2009 10:21 pm

Fxtraveller wrote:May I ask some advice?

A) are the zlines/zones identified correctly by blue boxes 1 and 2?

B) in both cases profit could have been made from pullbacks marked by arrows .

Where to enter?

case 1: buy when reaches its? thats going against some momo. dont we need to wait for the closed body?
if yes, price wicks zline, H1 closes. Open a buy straight away? or wait for the price to move, perhaps ho to a smoller timeframe?

case2: after a bull candle zeroes out sellers, next (last) candle is of high momo. until price actually goes down, we dont know here it will go.

So the point of all of this- what is (are) the best triggers to enter trade when trading zlines?



no that is not correct

the first mz box is wrong

the second is possibly correct depending on which actual candle you are basing it off of--- anchor it to the candle that your are basing it off of.


tell me
what is the definition of a mz?


as far as the longs i am pointing out--- they are possible trades and are riskier the higher you have moved due to the held profit beneath you

assuming your mz and zl is correct--as far as taking that first long you pointed out i would not trade that based off what you are looking at----- if i was going to even think about it i would dial down and see if i had an increase in momo and trade it off that off of the higher time frame s/r---- but, i would be very careful and would be looking for the first sign to get out

the second trade short---- that is a trade i took today----

1. it happens on consecutive bars
2. there was a clear target of held profit they were looking to take out

but and i also did this

the short trade started off the top when the momo started increasing. So, as you are playing it further down it is riskier--- bec you have held profit above you.

"So the point of all of this- what is (are) the best triggers to enter trade when trading zlines?[/quote]"---YOU

ME---- you are going to need to figure out an entry technique that works for you. Mine is discretionary and is different on every trade

i am going to post some charts here in min i have to mark them up

but here is what i would have been looking at based just on that chart sequence based just on the h1

Image

Image
Bend over and assume the position for another 4 years of hope and change.

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aliassmith
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Postby aliassmith » Fri Aug 28, 2009 11:50 pm

I seen MO sort of elude to this idea in at least one of his posts.

I was playing around with some rate of returns and compounding them
to see if what I thought MO mentioned was correct.

It turns out that if you have $5000 to invest that you are better off
investing $2500 and risking 4% per trade than invest $5000 and
risking 2% per trade. (assuming a 20% return per week on 2%risk per trade)

$10,380 after 4 weeks from $5000 and 2% risk/trade
$9,604 after 4 weeks from $2500 and 4% risk/trade

So, what I mean by better off is that you keep less capital in your account and you can have the other half of your capital under your matress, in case you have some drawdown.

Test everything!

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es/pip
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Postby es/pip » Sat Aug 29, 2009 12:02 am

here are some i made today---- i made a lot more trades than this but these are the ones that are clear--------

sometimes i will fade the momo if it is coming into a larger zline-- by dialing down and looking for something i like----- momo reversing inside the larger momo as long as it is zl'ing other traders. but also has to do with how it comes in to the area and how it leaves it based on how the bars form. i am very quick to cut it if it doesn't go right away. those setups carry more risk.

--- like on the pound when it made the double toppish kinda pattern on the 3 consecutive h1 bars( which was also coming into a h4 zl) i got short when it failed on the m5 and rode it down to the h1 zl and then did the same thing off that zl back up to the h1 zl and then got short of the chart i posted on the pound

i have shown some of those in the past but it will just be too confusing if i post any of those---- they shouldn't be traded anyway if you dont understand the first stuff --- so here are the clear ones

basically you want movement/momo in order to even consider trading

then you want to trade in the direction of the momo

targeting other traders that are holding onto their profit

i also had 3 or so b/e one -3 and a -7

Image

Image

Image

Image

Image
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dragon33
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Postby dragon33 » Sat Aug 29, 2009 12:06 am

aliassmith wrote:I seen MO sort of elude to this idea in at least one of his posts.

I was playing around with some rate of returns and compounding them
to see if what I thought MO mentioned was correct.

It turns out that if you have $5000 to invest that you are better off
investing $2500 and risking 4% per trade than invest $5000 and
risking 2% per trade. (assuming a 20% return per week on 2%risk per trade)

$10,380 after 4 weeks from $5000 and 2% risk/trade
$9,604 after 4 weeks from $2500 and 4% risk/trade

So, what I mean by better off is that you keep less capital in your account and you can have the other half of your capital under your matress, in case you have some drawdown.

Test everything!


In the past i traded with a big account so i could play with very high lotsize. After MO mentioned the above i have changed a lot.
You don't need a big account to trade high returns! You only need to master this concept or you burn your ass.
Trading risknumbers as 4% or more are only possible if the probability of your wins are high.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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brettnchrism
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Postby brettnchrism » Sat Aug 29, 2009 3:30 am

Somewhere along the way I remember a TRO indicator that would plot fib retracment dots inside the candles. I have the 1/3rd dots but thats not the one.

It may be fibb retracement dots but I cant seem to find it in all my searching. I like the 50 percent dots for visual without all the lines on my chart. Thanks, brett

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lukx
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Postby lukx » Sat Aug 29, 2009 6:26 am

brettnchrism , is it what you are looking for?
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prochargedmopar
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Postby prochargedmopar » Sat Aug 29, 2009 6:55 am

Yeah, brett,
Just set the showfibs to true.
You can have them shifted by changing that setting to 1. If needed.
#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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prochargedmopar
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Postby prochargedmopar » Sat Aug 29, 2009 6:57 am

dragon33 wrote:
aliassmith wrote:I seen MO sort of elude to this idea in at least one of his posts.

I was playing around with some rate of returns and compounding them
to see if what I thought MO mentioned was correct.

It turns out that if you have $5000 to invest that you are better off
investing $2500 and risking 4% per trade than invest $5000 and
risking 2% per trade. (assuming a 20% return per week on 2%risk per trade)

$10,380 after 4 weeks from $5000 and 2% risk/trade
$9,604 after 4 weeks from $2500 and 4% risk/trade

So, what I mean by better off is that you keep less capital in your account and you can have the other half of your capital under your matress, in case you have some drawdown.

Test everything!


In the past i traded with a big account so i could play with very high lotsize. After MO mentioned the above i have changed a lot.
You don't need a big account to trade high returns! You only need to master this concept or you burn your ass.
Trading risknumbers as 4% or more are only possible if the probability of your wins are high.


Dragon,
Funny post, "burn your buns" hehehe


It is not just about win percentage, also reward/risk ratio.
#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

Fxtraveller
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Postby Fxtraveller » Sat Aug 29, 2009 12:18 pm

Es/pip

You asked me what is the MightyZone.

In my understanding, it is the zone where the traders with held profit are zeroed out (by putting b/e or move stop losses) and the pullback stops, and then price continues in the direction of initial momo candle.

Hope i havent been learning the concept with wrong understandings.

Funny, but your sell targets on the chart below coincide with where I would go long. in both cases with possible profit, but very dangerous. At least I feel I can identify the zones of retracements somewhat better.

Now
I need to identify the right direction.

Thank you very much for (quote):

"basically you want movement/momo in order to even consider trading

then you want to trade in the direction of the momo

targeting other traders that are holding onto their profit "

simple enough to understand. hope I'll be able to put it into practice.

p.s. so do are you always present at the moment of trade entry? no "limit order with set SL and TP and go away" ?

ALl the best, have a good WE.
FxT
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dragon33
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Postby dragon33 » Sat Aug 29, 2009 1:43 pm

prochargedmopar wrote:
dragon33 wrote:
aliassmith wrote:I seen MO sort of elude to this idea in at least one of his posts.

I was playing around with some rate of returns and compounding them
to see if what I thought MO mentioned was correct.

It turns out that if you have $5000 to invest that you are better off
investing $2500 and risking 4% per trade than invest $5000 and
risking 2% per trade. (assuming a 20% return per week on 2%risk per trade)

$10,380 after 4 weeks from $5000 and 2% risk/trade
$9,604 after 4 weeks from $2500 and 4% risk/trade

So, what I mean by better off is that you keep less capital in your account and you can have the other half of your capital under your matress, in case you have some drawdown.

Test everything!


In the past i traded with a big account so i could play with very high lotsize. After MO mentioned the above i have changed a lot.
You don't need a big account to trade high returns! You only need to master this concept or you burn your ass.
Trading risknumbers as 4% or more are only possible if the probability of your wins are high.


Dragon,
Funny post, "burn your buns" hehehe


It is not just about win percentage, also reward/risk ratio.


That's what i ment. It is not possible to trade 4% of your account with a ratio 1/1.
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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Thank you for your support.


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