Never Lose Again

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BambinoFlex
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Re: Never Lose Again

Postby BambinoFlex » Fri Feb 18, 2022 6:40 am

kate682 wrote:Lets talk about those dark cloaked people on the other side of your trade. The ones that have to take the other side, or the market could not exist, the ones that do not like being offside, for long, and will fight with huge cavernous pockets to fill their own. Ask yourself this, when you see a pattern that is so obvious in a chart, that surely everyone will trade it, supporting your entry and giving you an amazing pip range to bank. Who is on the other side, and are they happy, or plotting.

example big movement up, and then another, and then range / consolidation. You have no idea which way it will break, up or down. And - neither do they. However the side that is the most heavy, the cloaked ones will take it the other way. Even right up to the last moment, there could be an at market order that tips the balance, and instead of it going up and away from the range, it will go down. And that is why you can never bet the farm or trade without stops, because it will never be known. No indicator on the planet, no insider knowledge, nothing can change that . . . in my view of course, we all see our own truth in the market.

And this is how I finally managed to be happy with stops. The markets teacher. So I smile and try and learn from my stops. Close enough not to hurt, with entries placed carefully enough not to be mainstream. But before that, I wait for the clues. If I watch candles long enough, I start to feel it. Candle by Candle. What is the previous candle telling me. So this thread 'never lose again' doesn't include me, because my space does get eaten, and my first 5 trades can be stopped out for peanuts, but then, often enough to keep me in the game, i win and win big.

I trade three different ways.

(1) scalp what I see on M5, htf framed in diamonds and megahorns, then its all about candle colour and size.
(2) Trade space at pointy bits, my size in 5 or 10 chunks. I enter full size 1, which is divisible by 10. It goes against me, I close a chunk 2/10, so I am now short 8/10, my space is larger, price continues against me, I close another chunk, so I am now short 6/10, my space is bigger, my carry forward loss/margin/risk smaller. And again, till and if my box is spent, my stop eaten. Carefully placed and then managed, 5 chunks of 2 lasts a long time, and suddenly, often without warning, my original idea works, and I can re-sell those chunks I closed. That to me is space. And then I add, 2/10 at a time, where my breakeven is far enough to support the 5% adr 30 stop. Moving my space, till it's tiny and at the biggest size I can get it to before that gets zapped into my bank, eaten up, by me, not the cloaked ones.
(3) Glass of wine during fomc and nfp, tiny size, fun and hit the button, my sl tp based on 5% each way. 50 50. me against the market. With a ££ i'm allowed to lose. Because trading should be fun.

So this is me, and i'd love to hear about you.
kate



I like your explanation on space....it just makes sense.
"If you're wrong, guess what...thats TRADING"

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kate682
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Re: Never Lose Again

Postby kate682 » Fri Feb 18, 2022 11:40 am

cheunt3 wrote:
Your megahorn is a cone to me. :D

Thanks for sharing, you got the technical side to fine art but I read your post as a psychological one.

FOMO was the one thing that held me back for years. My stops and timeframes kept getting larger and larger due to my insanity of wanting to win each trade but the win loss was even worse the higher it got, I couldn't figure it out and that was my journey into squiggles. Then MO came along and told me to not have one huge stop but to break it up into pieces. Don't bet the whole farm on one crop but to plant seasonal crops to lessen the risk of not losing the entire farm. I credit TRO too, he kept saying, once you placed the order, you have no control of what will happen next, he kept saying it and saying it until after I have placed many trades, I finally got it what he was saying and finally got what MO was teaching:

Since you have no idea the outcome once you place the trade why risk on one big stop?

Since you have no idea the outcome once you place the trade wouldn't it be better to take smaller stops until one succeeds?

And after that, building position on a small chart and waiting for a large move, OPM and the MM maths to Never Lose Again :D


You are ahead of me :-), I don't immediately know what OPM and MM are, is there a list of these abbreviations anywhere? Also, yes you are right, my megahorn is MO's cone, but you see the word cone didn't resonate with me, a cone to me is ^.
hugs kate
Empirical Trader
Current trade music :-https://www.youtube.com/watch?v=4-TbQnONe_w&list=PLOOLsN0qpbu6FdXfoSe8HZgaRIE4S2ssC&index=1

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Re: Never Lose Again

Postby cheunt3 » Fri Feb 18, 2022 2:55 pm

kate682 wrote:
cheunt3 wrote:
Your megahorn is a cone to me. :D

Thanks for sharing, you got the technical side to fine art but I read your post as a psychological one.

FOMO was the one thing that held me back for years. My stops and timeframes kept getting larger and larger due to my insanity of wanting to win each trade but the win loss was even worse the higher it got, I couldn't figure it out and that was my journey into squiggles. Then MO came along and told me to not have one huge stop but to break it up into pieces. Don't bet the whole farm on one crop but to plant seasonal crops to lessen the risk of not losing the entire farm. I credit TRO too, he kept saying, once you placed the order, you have no control of what will happen next, he kept saying it and saying it until after I have placed many trades, I finally got it what he was saying and finally got what MO was teaching:

Since you have no idea the outcome once you place the trade why risk on one big stop?

Since you have no idea the outcome once you place the trade wouldn't it be better to take smaller stops until one succeeds?

And after that, building position on a small chart and waiting for a large move, OPM and the MM maths to Never Lose Again :D


You are ahead of me :-), I don't immediately know what OPM and MM are, is there a list of these abbreviations anywhere? Also, yes you are right, my megahorn is MO's cone, but you see the word cone didn't resonate with me, a cone to me is ^.
hugs kate


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.
MO "Don't try to predict what will happen next, simply aim to consistently apply your ideas."

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Re: Never Lose Again

Postby kate682 » Fri Feb 18, 2022 3:02 pm

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]
====================

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
Empirical Trader
Current trade music :-https://www.youtube.com/watch?v=4-TbQnONe_w&list=PLOOLsN0qpbu6FdXfoSe8HZgaRIE4S2ssC&index=1

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Re: Never Lose Again

Postby TheRumpledOne » Fri Feb 18, 2022 6:08 pm

kate682 wrote: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/
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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