"Oh just one more thing (as Columbo might say). In a sequence of 3 green bars in a row is that also counted as 2 green bars?....I am thinking yes it is."
NO. 3 green bars in a row is not also counted as 2 green bars in a row. Because it would be counted twice as 2 green bars in a row and once as 3 green bars in a row.
I am counting "streaks".
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Re: My Lesson Learned
TheRumpledOne wrote:Al Mo wrote:Greetings TRO,
I would say the biggest differences to date for me are:
1) Keeping my expectations reasonable - 5 - 13 pips max.
2) proper use of money management (this is something I have yet to truly master....work in progress). Right now all my demo trades are 0.1 lots, and I deliberately open the demo accounts with 500 bux to prevent myself from being able to 'overtrade' my way back into profitability. This alone, forced me to learn how to pick better entries.
3). And lastly, what I am including in this pic.
1) Expectations? Take what you can.
2) Use 0.2 lots so you can learn to exit part of the trade with a quick profit. Move your stop up to breakeven OR use a trailing stop to capture more of the move.
3) Don't you have the pictures reversed? Aren't you learning how to SEE the support resistance on a blank chart?
Thanks for sharing.
Thanks for your insights TRO...
Today, I moved up to .2 lots
as for 3) the pics are indeed reversed - my apologies , I'll post corrected ones in future posts.
Thanks again
-Al Mo
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0830 - 11:16
Well....all I can say is this appears to be getting easier to see as I keep doing this. Moving to .2 lots has allowed me to almost double my initial 500 dollar deposit since last Friday. I'll be trying to reach the 2k mark by 4 pm.
I have been trading mostly to the short side, but I have done a few longs too.
I have been trading mostly to the short side, but I have done a few longs too.
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TheRumpledOne wrote:"Oh just one more thing (as Columbo might say). In a sequence of 3 green bars in a row is that also counted as 2 green bars?....I am thinking yes it is."
NO. 3 green bars in a row is not also counted as 2 green bars in a row. Because it would be counted twice as 2 green bars in a row and once as 3 green bars in a row.
I am counting "streaks".
Ahh OK I see. Thanks. That improves things for the 2 or 3 in a row case . Still having said that most charts that you post (maybe all, not sure without checking back) Alternating bars seem to count for over 50% for the streaks. So streaks of 1 are more common than all others in total. Hmmmm, it's thought provoking stuff.
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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
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Hi,
I'm new to this forum.
I've been reading the post for a while now, and this seems like great stuff! Can it be that simple?
In the buy zone how exactly is the distance from the open to the "go long" and "go short" lines calculated. I read your post somewhere in the forum stating you use statistics, so you come up with values for GBPJPY, EURUSD, etc. You also mention you use it for stocks.
What algorithm exactly is beeing used for these calculations?
Say I would like to use the buy zone for trading goog, or msft, how would the distances be calculated?
Thanks,
ThePitPirate
I'm new to this forum.
I've been reading the post for a while now, and this seems like great stuff! Can it be that simple?
In the buy zone how exactly is the distance from the open to the "go long" and "go short" lines calculated. I read your post somewhere in the forum stating you use statistics, so you come up with values for GBPJPY, EURUSD, etc. You also mention you use it for stocks.
What algorithm exactly is beeing used for these calculations?
Say I would like to use the buy zone for trading goog, or msft, how would the distances be calculated?
Thanks,
ThePitPirate
- TheRumpledOne
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For stocks the buyzone is the open +/- 10 and 20 cents.
DO NOT TRADE GOOG OR BIDU with the buyzone!!!! The spreads are too wide.
I wouldn't trade MSFT either. Search for my TOP 20 Cows and trade those stocks.
DO NOT TRADE GOOG OR BIDU with the buyzone!!!! The spreads are too wide.
I wouldn't trade MSFT either. Search for my TOP 20 Cows and trade those stocks.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
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Thank you for your support.
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