Never Lose Again

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 664
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 47
Gender: Male
Contact:

Postby PTG » Fri Nov 06, 2009 7:07 pm

Why I didn't take this trade ? No idea. Not very smart. :-& :smt017 :smt089

Nr. 1 was the first retrace to that supply zone (see 2nd picture below) I missed out on that one.

Nr. 2 was the 2nd one. I had noticed it, but decided to not invest 10 pips for a multiple of that because I thought it might go a bit higher through the the zone, which it didn't. I'm still shaking my head in disbelief.

Image

Image

'Houston, we have a problem..' ](*,) :smt013 :smt021
This is my new signature: "new signature".

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
jahjahblessed
rank: 50+ posts
rank: 50+ posts
Posts: 59
Joined: Wed Feb 11, 2009 6:42 pm
Reputation: 0
Gender: None specified

Postby jahjahblessed » Fri Nov 06, 2009 11:48 pm

PTG wrote:Why I didn't take this trade ? No idea. Not very smart. :-& :smt017 :smt089

Nr. 1 was the first retrace to that supply zone (see 2nd picture below) I missed out on that one.

Nr. 2 was the 2nd one. I had noticed it, but decided to not invest 10 pips for a multiple of that because I thought it might go a bit higher through the the zone, which it didn't. I'm still shaking my head in disbelief.

Image

Image

'Houston, we have a problem..' ](*,) :smt013 :smt021


No worries my youth, theres plenty to go around, next time. I took Nr. 2 from 1.6604 my TP was @ 1.6500 miss it by 18 pips 1.6517 while working no chance to check it retrace back to my SL 10pips. man really I'm on my way really on my way
transform to PIP"S FARI

Whatever the mind of man can conceive and believe, it can achieve.
Napoleon Hill

Image
JAHJAHBLESSED

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 664
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 47
Gender: Male
Contact:

Postby PTG » Sat Nov 07, 2009 12:13 am

jahjahblessed wrote:No worries my youth, theres plenty to go around, next time. I took Nr. 2 from 1.6604 my TP was @ 1.6500 miss it by 18 pips 1.6517 while working no chance to check it retrace back to my SL 10pips. man really I'm on my way really on my way


Absolutely 8)

It's difficult when you can't follow up trades. In hindshight ( :roll: ) the 1.6545 area might have been better to take profit, but then again it might have worked on other days; the range today wasn't very high. It might work next time.. :D
This is my new signature: "new signature".

User avatar
pablo101
rank: 500+ posts
rank: 500+ posts
Posts: 841
Joined: Tue Jun 30, 2009 3:10 pm
Reputation: 2
Real name: Pete
Gender: None specified

Postby pablo101 » Sat Nov 07, 2009 2:04 am

PTG wrote:Why I didn't take this trade ? No idea. Not very smart. :-& :smt017 :smt089

Nr. 1 was the first retrace to that supply zone (see 2nd picture below) I missed out on that one.

Nr. 2 was the 2nd one. I had noticed it, but decided to not invest 10 pips for a multiple of that because I thought it might go a bit higher through the the zone, which it didn't. I'm still shaking my head in disbelief.

Image

Image

'Houston, we have a problem..' ](*,) :smt013 :smt021


Not only you :(
What line? The line that tells you which way you are trading! - MO

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 12823
Joined: Sun May 14, 2006 9:31 pm
Reputation: 1472
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Sat Nov 07, 2009 3:31 am

PTG wrote:Why I didn't take this trade ? No idea. Not very smart. :-& :smt017 :smt089

Nr. 1 was the first retrace to that supply zone (see 2nd picture below) I missed out on that one.

Nr. 2 was the 2nd one. I had noticed it, but decided to not invest 10 pips for a multiple of that because I thought it might go a bit higher through the the zone, which it didn't. I'm still shaking my head in disbelief.


Enter your trade.

Enter your stop loss.

You either win or lose.

THERE IS NOTHING TO THINK ABOUT unless you're a YALE STUDENT.
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.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 664
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 47
Gender: Male
Contact:

Postby PTG » Sat Nov 07, 2009 4:03 am

TheRumpledOne wrote:
PTG wrote:Why I didn't take this trade ? No idea. Not very smart. :-& :smt017 :smt089

Nr. 1 was the first retrace to that supply zone (see 2nd picture below) I missed out on that one.

Nr. 2 was the 2nd one. I had noticed it, but decided to not invest 10 pips for a multiple of that because I thought it might go a bit higher through the the zone, which it didn't. I'm still shaking my head in disbelief.


Enter your trade.

Enter your stop loss.

You either win or lose.

THERE IS NOTHING TO THINK ABOUT unless you're a YALE STUDENT.


I know. The brain protests sometimes. It's my enemy and I will have no option but to kill it out of pure self-defence :shock: :smt030 :smt076 :D
This is my new signature: "new signature".

User avatar
jahjahblessed
rank: 50+ posts
rank: 50+ posts
Posts: 59
Joined: Wed Feb 11, 2009 6:42 pm
Reputation: 0
Gender: None specified

Postby jahjahblessed » Sat Nov 07, 2009 3:28 pm

PTG wrote:
TheRumpledOne wrote:
PTG wrote:Why I didn't take this trade ? No idea. Not very smart. :-& :smt017 :smt089

Nr. 1 was the first retrace to that supply zone (see 2nd picture below) I missed out on that one.

Nr. 2 was the 2nd one. I had noticed it, but decided to not invest 10 pips for a multiple of that because I thought it might go a bit higher through the the zone, which it didn't. I'm still shaking my head in disbelief.


Enter your trade.

Enter your stop loss.

You either win or lose.

THERE IS NOTHING TO THINK ABOUT unless you're a YALE STUDENT.


I know. The brain protests sometimes. It's my enemy and I will have no option but to kill it out of pure self-defence :shock: :smt030 :smt076 :D

LOL LOL me too thinking about doing the same thing
transform to PIP"S FARI



Whatever the mind of man can conceive and believe, it can achieve.

Napoleon Hill



Image

JAHJAHBLESSED

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 12823
Joined: Sun May 14, 2006 9:31 pm
Reputation: 1472
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Sat Nov 07, 2009 4:29 pm

I saw a video of a professional trader trading years ago.

They entered the trade.

After the fill they entered the stop loss and TP1.

Then they sat back and watched.

There is nothing you can do but watch.

The TP1 was hit first.

The trader canceled his stop loss and entered a new stop loss at break even for the remaining position.

Purely mechanical.

They didn't live and die by each tick nor did they have to babysit the trade. When an order filled, the computer sounded an alert.
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.

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 664
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 47
Gender: Male
Contact:

Postby PTG » Sat Nov 07, 2009 6:05 pm

TheRumpledOne wrote:I saw a video of a professional trader trading years ago.

They entered the trade.

After the fill they entered the stop loss and TP1.

Then they sat back and watched.

There is nothing you can do but watch.

The TP1 was hit first.

The trader canceled his stop loss and entered a new stop loss at break even for the remaining position.

Purely mechanical.

They didn't live and die by each tick nor did they have to babysit the trade. When an order filled, the computer sounded an alert.


Funny you say that.

When I actually do that (to let it run), it works out fine and when I don't by starting to actually THINK, it doesn't.
That may be coincidence though.

If you take a step back, and you would actually enter every possible trade using some condition (e.g. RAT trigger, or a retrace to supply/demand, preferably at a higher TF extreme like day or week) and then do the above and let the remainder run until B/E or a T/P that makes sense, you should do fine, especially if the TP1 covers more than the S/L for the remainder.

Anyway, the psychology behind it is very important. The risk of being discretionary about your T/P (and that includes modifying an existing one) is that you tend to start and see things in a different perspective, thereby ruining the premise that led you to take the trade in the first place.
This is my new signature: "new signature".

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 664
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 47
Gender: Male
Contact:

Postby PTG » Sat Nov 07, 2009 11:12 pm

It all seems pretty simple. But why then do so few traders and investors enter properly into demand and supply areas? The answer is simple: human emotion. The fear of a potential break of a demand level is stronger than the benefit a low-risk entry at a demand or supply area offers. But traders need to remember that opportunity always lies where the majority is afraid to go.

- Sam Seiden.
This is my new signature: "new signature".

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”