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es/pip
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Postby es/pip » Sat Aug 29, 2009 2:12 pm

Fxtraveller wrote: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


well that is what a mz means but you didn't mark it correctly

might zone= 50% of a closed body that is 2x the previous bars body, then any line inside of the mz can be a valid zl

"Now
I need to identify the right direction."

----- momo shows that to you

"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."

but the momo is down so you should be shorting and targeting not looking to go long

momo is the key-- it is the truth---it shows the way

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" ?

i am always here on the entry, if it doesnt go my way i want to know why and be able to get out before my stop is hit. I am almost always here on the trade duration. The only times i will set a tp and stop and not watch, is if i am already up a good amount of pips for the day, and have a trade on that i am in decent profit. If i want to go to sleep or if i need to run out and do something i will do that---- but i rarely do that. Some times a trade will get withinn 5-10 pips of my target and reverse so i want to be here so i can close it immediately.

i use limit orders and i also use market orders----- its dif every time. Sometimes you just need to get in and hit the market. Sometimes i am not using limit orders and watching the PA and just get in---- its always different
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 » Sat Aug 29, 2009 2:33 pm

dragon33 wrote:
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.


I am looking for about 1:1.5 or better on these M5 charts nothing percise. I am looking to get at least 13 pips or more on a 9 pip SL. With 2 wins and 2 losses there should be a little profit. I would say my current accuracy is about 2 wins to 1 loss.

Of course it doesn't always work out like that. Sometimes the SL is a bit more and the profit is a little less. Then again sometimes the profit is a lot more :D

For me, this MightyOne methodology goes well with what I was learning from Sam Seiden and his Supply/Demand methodology.

It takes a lot of screen time to learn, so test everything :idea:

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dragon33
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Postby dragon33 » Sat Aug 29, 2009 2:45 pm

aliassmith wrote:
dragon33 wrote:
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.


I am looking for about 1:1.5 or better on these M5 charts nothing percise. I am looking to get at least 13 pips or more on a 9 pip SL. With 2 wins and 2 losses there should be a little profit. I would say my current accuracy is about 2 wins to 1 loss.

Of course it doesn't always work out like that. Sometimes the SL is a bit more and the profit is a little less. Then again sometimes the profit is a lot more :D

For me, this MightyOne methodology goes well with what I was learning from Sam Seiden and his Supply/Demand methodology.

It takes a lot of screen time to learn, so test everything :idea:


Learn the concept on higher tmf and trade the H1 as basic there is much more then 1/1.5
My average is about 1/4 sometimes less or more
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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Patch
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Postby Patch » Sat Aug 29, 2009 3:00 pm

aliassmith

Great post on p.586 at 5:36pm on #/$. Were you looking at only the M5, or also at other time frames for ZLs?

Congratulations
Patch
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

aliassmith
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Postby aliassmith » Sat Aug 29, 2009 3:56 pm

dragon33 wrote:
aliassmith wrote:
dragon33 wrote:
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.


I am looking for about 1:1.5 or better on these M5 charts nothing percise. I am looking to get at least 13 pips or more on a 9 pip SL. With 2 wins and 2 losses there should be a little profit. I would say my current accuracy is about 2 wins to 1 loss.

Of course it doesn't always work out like that. Sometimes the SL is a bit more and the profit is a little less. Then again sometimes the profit is a lot more :D

For me, this MightyOne methodology goes well with what I was learning from Sam Seiden and his Supply/Demand methodology.

It takes a lot of screen time to learn, so test everything :idea:


Learn the concept on higher tmf and trade the H1 as basic there is much more then 1/1.5
My average is about 1/4 sometimes less or more


Dragon33: Thanks for the advise. I did learn the concepts on H1 charts and would get better R:R. The only problem I had was that I could not trade for 16 hours a day. I find some decent trades on M5 and I am still practicing. I would suggest for new people to this idea that they learn on higher timeframes to begin with such as I did.


Patch: thanks for the response, I have been testing out M5 chart recently. I started with the H1 charts after Zapzinig's charts helped me SEE. I did come to realize that I can't spend all day and night to trade right now so M5 is my current focus. No I did not look at other timeframes to make decisions.

Two trades on G/U M5 with about 1:3 R:R edit:(forgot Red is the SL, Green is the entry and Orange is the exit) also there was another trade between those two that I didn't mark.
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dragon33
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Postby dragon33 » Sat Aug 29, 2009 4:49 pm

This is the way how i do it. On the left the H4 on the right H4 H1 and M15 on eachother. After a bounce on the left chart off mozone i start looking for momo on M15, if price comes back and hit the M15 zeroline then i enter my trade.

Image

Watch the circles on both charts. They represent the same. See how momo build up on the lower tmf after bouncing on the H4 mightyzone.
First sign is exhausting price who can't reach the same high.
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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Postby aliassmith » Sat Aug 29, 2009 5:26 pm

dragon33 wrote:This is the way how i do it. On the left the H4 on the right H4 H1 and M15 on eachother. After a bounce on the left chart off mozone i start looking for momo on M15, if price comes back and hit the M15 zeroline then i enter my trade.

Image

Watch the circles on both charts. They represent the same. See how momo build up on the lower tmf after bouncing on the H4 mightyzone.
First sign is exhausting price who can't reach the same high.


I like YOUR approach , ES/PIPS' , MO's , and ZZ's approach

A few ways of looking at the same concept. I am just hoping my approach is just another successful way of applying ZL/MZ. Which it appears to be so far :)

Disclaimer: For those new to this methodology, you should probably follow the people I mentioned and not me, although monalisa looks to be kickin' a$$ also.

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Postby lukx » Sat Aug 29, 2009 6:44 pm

dragon so it's like double safety thingy? 4h MZ got hit and then it's start falling and if on 15m zl got hit after bounce up you enter short right ?

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Postby dragon33 » Sat Aug 29, 2009 9:14 pm

lukx wrote:dragon so it's like double safety thingy? 4h MZ got hit and then it's start falling and if on 15m zl got hit after bounce up you enter short right ?


Yep that's the way to do it. Remeber and don't forget. A H4 momo starts building up on lower tmf's.
If there is no momo on the M15 there is no trade for me!
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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Postby MightyOne » Sat Aug 29, 2009 11:39 pm

aliassmith wrote:
dragon33 wrote:This is the way how i do it. On the left the H4 on the right H4 H1 and M15 on eachother. After a bounce on the left chart off mozone i start looking for momo on M15, if price comes back and hit the M15 zeroline then i enter my trade.

Image

Watch the circles on both charts. They represent the same. See how momo build up on the lower tmf after bouncing on the H4 mightyzone.
First sign is exhausting price who can't reach the same high.


I like YOUR approach , ES/PIPS' , MO's , and ZZ's approach

A few ways of looking at the same concept. I am just hoping my approach is just another successful way of applying ZL/MZ. Which it appears to be so far :)

Disclaimer: For those new to this methodology, you should probably follow the people I mentioned and not me, although monalisa looks to be kickin' a$$ also.


I don't think that anyone here has ever attempted to trade as I do...

My method is not about finding a trade today, but finding a trade with the greatest value where value is defined as the possibility for price to move in a single direction for days, weeks, or months.

It takes advancing and then retreating from corrections once or twice and the willingness to risk everything that you have made thus far in exchange for massive profit.
It takes sitting out of a pair for days or weeks while the heavens align.
It takes entering on small time frames and working the trade into the larger charts.

As soon as a trade is significantly in profit I can manage the trade with a smartphone.


When I first showed the method to the people here I wasn't dipping below 4 hour bars for analysis...
even now I will not trade against three hour momentum.

Starting from the multiple minute chart before moving the trade to the hourly helps to reduce risk.
You could stay on the small time frame charts however it is unlikely that you will traverse great distances with small feet :shock:

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