Never Lose Again

[kate682]

Hi Kate, OPM is Other People's Money and MM is money management.

OPM is just betting and winning small hands from your opponents and going all in with their money when a large move on a large chart is happening. Using their money is nicer on the brain instead of risking your money which is more stressful to think about. It's not really a convention but I think it was introduced by MO to get us to think differently about risking money. I think it was MO who started it, I could be wrong.

Do you keep in touch with the big guy? I hope he is doing fine.[/quote]
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I only ever had contact with him in kreslik in the early days when i was trying to understand 'cones & pennants'. Ah Ha ref OPM and MM, yes understand now lol. Thank you

[TheRumpledOne]

Hi Kate, OPM is Other People's Money and MM is money management.

OPM is just betting and winning small hands from your opponents and going all in with their money when a large move on a large chart is happening. Using their money is nicer on the brain instead of risking your money which is more stressful to think about. It's not really a convention but I think it was introduced by MO to get us to think differently about risking money. I think it was MO who started it, I could be wrong.

Do you keep in touch with the big guy? I hope he is doing fine.

====================

I only ever had contact with him in kreslik in the early days when i was trying to understand 'cones & pennants'. Ah Ha ref OPM and MM, yes understand now lol. Thank you[/quote]

One mistake is considering it OPM. Once it is in your account, IT'S YOUR MONEY! It should be treated no differently than the rest of the money.

https://money.com/daniel-kahneman-think ... -and-slow/

[TheRumpledOne]

NOISE:

https://behavioralscientist.org/a-conve ... out-noise/

[nonibadsha]

Hi Guys,

I'm new here and looking if TRO and team can help me "see"
Prior I was aware of TRO.. But I always thought he just modified Indicators. lol.

Recently on FF I came across the HOLO thread by TooSlow. I started reading the thread and I believe I understand the method. Have had some semi success but still roughly BE. I win some, lose some and just don't seem to be edging forward. Looking at just one pair (GBPUSD) I feel I don't get many opportunities and like I said the ones that I do get, overall end up BE.

Anyway the HOLO thread of FF somehow pointed me towards #advancedalientrading and TRO. I did PM TRO for help and he pointed me to the All You Need to Know About Trading PDF. I have found it and read it, it makes sense to me.

What I found with HOLO is that it can happen at anytime of the day and you really need to be at the machine to take advantage. With work and life commitments, I feel the need to look for something different for example concentrating on one session, lets say London and then hit and run.

So recently I have been looking at the hourly and trying to trade it on M5. I look at the previous hourly candle and depending on higher lower close determine a bias and trade in that direction from the open of the current H1 candle.

Am I in line with TRO's teaching? Would really appreciate if someone, not spoon feed me but maybe hold my hand and show me how to fish.

Below is a chart of one of my trades from the London session today. The Red arrow was London open and that's where I entered a short at the open of the candle but not before the price went up and then started coming down. Daily candle is Red and the H1 also became Red after entry. I set a trailing stop of 5 pips and ended up with 5 pips profit. That H! candle actually made a run for approx 30 pips from my entry.

Sorry for the long post

[Jhx]

Hi Guys,

I'm new here and looking if TRO and team can help me "see"
Prior I was aware of TRO.. But I always thought he just modified Indicators. lol.

Recently on FF I came across the HOLO thread by TooSlow. I started reading the thread and I believe I understand the method. Have had some semi success but still roughly BE. I win some, lose some and just don't seem to be edging forward. Looking at just one pair (GBPUSD) I feel I don't get many opportunities and like I said the ones that I do get, overall end up BE.

Anyway the HOLO thread of FF somehow pointed me towards #advancedalientrading and TRO. I did PM TRO for help and he pointed me to the All You Need to Know About Trading PDF. I have found it and read it, it makes sense to me.

What I found with HOLO is that it can happen at anytime of the day and you really need to be at the machine to take advantage. With work and life commitments, I feel the need to look for something different for example concentrating on one session, lets say London and then hit and run.

So recently I have been looking at the hourly and trying to trade it on M5. I look at the previous hourly candle and depending on higher lower close determine a bias and trade in that direction from the open of the current H1 candle.

Am I in line with TRO's teaching? Would really appreciate if someone, not spoon feed me but maybe hold my hand and show me how to fish.

Below is a chart of one of my trades from the London session today. The Red arrow was London open and that's where I entered a short at the open of the candle but not before the price went up and then started coming down. Daily candle is Red and the H1 also became Red after entry. I set a trailing stop of 5 pips and ended up with 5 pips profit. That H! candle actually made a run for approx 30 pips from my entry.

Sorry for the long post

That's also the reason why I dropped HOLO, especially if you want to focus on one pair, you need to be there at that time and then the train leaves .
For a couple of months I've been trying to shift into larger timeframes but with a tight schedule it's hard to actually be there to take the trades.

So I'm back to learning to scalp (doing GBPUSD); sitting down and trying to make the most out of my 2-3 hours in the morning when I can focus.

I don't think I can help you cause I'm still learning, but there are many great traders here (each with different schools of thought I guess).

[nonibadsha]

Here's another example of what I'm trying.
The Red vertical and Horizontal lines are showing the open of the previous hourly candle.
Price went up and then back down. I entered short at the open.
+11 pips.

[nonibadsha]

Another example
+7 pips.

Because I effed up earlier today I am now only +9 pips for the day.

[TheRumpledOne]

Looks like you are making a profit. Just keep doing that.

Either you are trading or you are not. That means if you don't have time to trade, don't expect to reap the benefits of trading. That's just the harsh reality.

[TheRumpledOne]

Hi Guys,

I'm new here and looking if TRO and team can help me "see"
Prior I was aware of TRO.. But I always thought he just modified Indicators. lol.....

Why did you think that?

[nonibadsha]

Looks like you are making a profit. Just keep doing that.

Either you are trading or you are not. That means if you don't have time to trade, don't expect to reap the benefits of trading. That's just the harsh reality.

I can make the time to trade.. And the best for me, for now is from London open until London close.
What I was referring to re time was specifically the HOLO method. Realistically one cant sit at the machine all day waiting for HOLO to happen. Now, I do not have any evidence to back this up, but I do not feel I can be profitable to the extent where I can make a living from trading only HOLO, when trading just 1 session.