ProchargedMopar's Trading Trilogy

[MightyOne]

Another Account Drained

Oh yeah, I held for 25 minutes....exited -5.
30 min. later it dropped 25 pips.

Ok, so I'll try again.....a couple -15's.

Ok, so I just start clicking.......9 clicks later I'm back to break even.

Then I did what a RED rat is not suppose to do, Went long after going short for a few pips from the daily extreme.

minus who knows.....margin called.

Congratulate me for holding the last trade over 2 hrs!!!!!!!!!!!!!!!!!!

You do not have a trading problem so much as you have a mentality problem.

IT IS OK TO LOSE A TRADE!

Why do you feel the need to click to break even?

WAIT FOR A F:shock:ING TRADE!

After every loss, you only have what remains in your account as if that is the amount you initially deposited ie AFTER EVERY LOSS YOU ARE AT BREAK EVEN!

Why do you consistently do that which you know you should not?

It sounds like you still do not have a trading plan after all this time...

Again I say...
FIX YOUR MIND AND YOU WILL FIX YOUR TRADING.

congrats on holding for 20+ minutes

[AndreasF]

Pro, what paid did you trade: EJ or GU?

[pablo101]

Another Account Drained

RIP account

Seems like you need to sellotape you trading finger down or something to stop trading every up or down.

Pro, put up some charts so that we can see how you over roasted your account please.

[es/pip]

I am incapable of understanding how you expect things to "change" and get better if you continue to do the things you are not supposed to do


"The definition of insanity is doing the same thing over and over again and expecting different results"------Albert Einstein

[prochargedmopar]

Well now.

Started the day off learning that an account (UK 10K version) I had funded with 1100.ish had basically been drained and was in a hedged trade.

This other guy that had access to it asked what I wanted to do because the first guy has disappeared.
If I told him to close both it would have about 408ish.

buy order was -278 and a sell order was +38.

I looked at the e/j daily/H4/ and h1 charts then told him to close the buy and bank about 50 pips on the sell then close it. Put a stop just above the current resistance area at about 48-50 just in case my assessment is totally off. Capital preservation...Hmmmm what that???

Well, he did and we started scalping. EJ started to push up and I told him that those tricky "ba.x*#U#ds" are going to do a quick stop hunt before a good size drop......sure enough. Hit my stop on my scalp trade with my micro and also the remaining order in the UK account.
18 pips above the 50 line, just enough to get all the dumb@ss's that put stops up there......!!!!!

Then it continued to drop 80 pips.
Remaining balance of 389ish.

OK. Now for my micro.

I was trying to hold trades. I'd see 5ish profit and then it would hit my stop.
I was down 35 pips and that's when I said to myself just click and scalp to b/e and then go to bed.
I had 9 scalps, all wins and was up 5 pips.

Well, e/j started to drop as suspected during that time and I got some pips out of it.....then is started to form a base on m1 so I figured I'd get a quick 10-15. I saw 5.2 a couple times but said no way dude, I'm holding because it will usually retrace 20 without me.
I added once and needed 4 pips movement....then I added twice and only needed 2.5 pips more movement. It started to drop like a rock and so I increased lot value......after it got to about -$80 in the hole there was no letting go. Margin called right when e/j hit it's "real" bottom.....Now in this chart you can see that it's on a tear back to test the top..
I PERSONALLY FEEL IT WILL BREAK THIS TIME BECAUSE IT HAS HIT THAT AREA LIKE 7 TIMES OVER THAT LAST FEW DAYS BUT THE LARGEST CORRECTION WAS PRETTY BIG SO WE'LL HAVE TO WAIT.
Wait, did I say wait...?

Anyway.
Here is a pick.
If I would have been using the triangles I would have seen EVEN ON THE M1 CHART that there was NOT a signal to go long.....it bounced a bit but did NOT form a higher low to draw your line from.

I've got to quit thinking I'm going to miss the move....Thats bogus...plenty of time to get in these bad boys, plenty..

BUT IM A RED RAT NOW FOR SURE, F-GOING LONG. IT'S KILLING ME.
LOL
I'm posting the last 30 entries below that include the 9 wins that brought me back to $380ish. Now my account is showing 180ish. doh.

The last 8 entries at the top were after the orders were closed by the broker. Hmmmm 20pip G/U win. Accidental entry, looked at chart and said, yeah, it's going up too. I'm in the mood for holding, lets get a couple. LOL

At the extreme I was holding $6.60 pips with a $380 account. still had 27% margin available for a little bit....hehehehehe



EUR/JPY 10 B 130.885 130.953 6.8 7.65 0.00 10/9/2009 06:02 10/9/2009 06:03
EUR/JPY 10 B 130.887 130.923 3.6 4.05 0.00 10/9/2009 06:02 10/9/2009 06:03
EUR/JPY 10 B 130.915 130.864 -5.1 -5.74 0.00 10/9/2009 06:01 10/9/2009 06:02
EUR/JPY 10 B 130.945 130.898 -4.7 -5.29 0.00 10/9/2009 05:58 10/9/2009 06:00
EUR/JPY 10 S 130.980 130.940 4 4.50 0.00 10/9/2009 05:54 10/9/2009 05:57
EUR/JPY 10 B 131.032 130.980 -5.2 -5.85 0.00 10/9/2009 05:42 10/9/2009 05:54
EUR/JPY 10 B 131.002 130.980 -2.2 -2.48 0.00 10/9/2009 05:42 10/9/2009 05:54
GBP/USD 10 B 1.59396 1.59603 20.7 20.70 0.00 10/9/2009 05:42 10/9/2009 05:49


EUR/JPY 15 B 131.265 130.969 -29.6 -49.94 0.00 10/9/2009 05:26 10/9/2009 05:41
EUR/JPY 15 B 131.245 130.969 -27.6 -46.56 0.00 10/9/2009 05:27 10/9/2009 05:41
EUR/JPY 1 B 131.385 130.969 -41.6 -4.68 0.00 10/9/2009 04:19 10/9/2009 05:41
EUR/JPY 1 B 131.339 130.969 -37 -4.16 0.00 10/9/2009 04:31 10/9/2009 05:41
EUR/JPY 1 B 131.470 130.969 -50.1 -5.64 0.00 10/9/2009 04:06 10/9/2009 05:41
EUR/JPY 1 B 131.385 130.969 -41.6 -4.68 0.00 10/9/2009 04:19 10/9/2009 05:41
EUR/JPY 1 B 131.336 130.969 -36.7 -4.13 0.00 10/9/2009 05:20 10/9/2009 05:41
EUR/JPY 10 B 131.273 130.969 -30.4 -34.19 0.00 10/9/2009 05:21 10/9/2009 05:41
EUR/JPY 1 B 131.465 130.969 -49.6 -5.58 0.00 10/9/2009 03:55 10/9/2009 05:41
EUR/JPY 10 B 131.240 130.969 -27.1 -30.48 0.00 10/9/2009 05:30 10/9/2009 05:41
EUR/JPY 10 B 131.214 130.969 -24.5 -27.56 0.00 10/9/2009 05:35 10/9/2009 05:41

EUR/JPY 1 S 131.623 131.560 6.3 0.71 0.00 10/9/2009 03:32 10/9/2009 03:35
EUR/JPY 1 S 131.577 131.565 1.2 0.13 0.00 10/9/2009 03:24 10/9/2009 03:34
EUR/JPY 1 S 131.658 131.645 1.3 0.15 0.00 10/9/2009 03:21 10/9/2009 03:21
EUR/JPY 1 S 131.625 131.608 1.7 0.19 0.00 10/9/2009 03:17 10/9/2009 03:18
EUR/JPY 1 B 131.512 131.553 4.1 0.46 0.00 10/9/2009 03:16 10/9/2009 03:16
EUR/JPY 1 B 131.521 131.553 3.2 0.36 0.00 10/9/2009 03:15 10/9/2009 03:16
EUR/JPY 1 B 131.523 131.553 3 0.34 0.00 10/9/2009 03:15 10/9/2009 03:16
EUR/JPY 1 B 131.539 131.553 1.4 0.16 0.00 10/9/2009 03:15 10/9/2009 03:16
EUR/JPY 1 B 131.470 131.553 8.3 0.93 0.00 10/9/2009 03:15 10/9/2009 03:16

EUR/JPY 1 S 131.330 131.466 -13.6 -1.52 0.00 10/9/2009 02:49 10/9/2009 03:14
GBP/USD 1 S 1.60085 1.60201 -11.6 -1.16 0.00 10/9/2009 02:31 10/9/2009 02:43
157 -372.6 -199.31 0.00

[prochargedmopar]

All my desktops look like this......

[prochargedmopar]

Asian session,
Only profitable trade was what I call a NY-gap time asian box breakout.

Jumped the gun on g/u short.
Shorted e/j on a rat trade.
Then Immediately stopped out and took the breakout....closed early.

Back to the lazy river with the kids..................

EUR/JPY 1 B 133.348 133.413 6.5 0.72 0.00 10/13/2009 19:20 10/13/2009 19:36
GBP/USD 1 S 1.59301 1.59374 -7.3 -0.73 0.00 10/13/2009 19:04 10/13/2009 19:33
EUR/JPY 1 S 133.258 133.348 -9 -1.00 0.00 10/13/2009 19:04 10/13/2009 19:20
3 -9.8 -1.01 0.00

[prochargedmopar]

Late NY session

Believe me,
I really tried to catch a big move.

There was never a good setup on h1,2,3, or 4 charts.
traded m3J(for entries only) and will continue to do so using h4 as master until I get it down.

As M.O. said: When m3 quits pushing the h4 extreme trade dtb style.....I'll use RAT dtb style. LOL

Todd Krueger says also that FX continually has 100 pip moves so why would anyone want to "scalp" it using small tf charts (1's 2"s or ticks, ect).

I do SEE how the higher tf's will allow me to make a couple pips and get a life.
Time to add more money..LOL

What grumps me about today was that I was up 21 on g/u...closed at -1.x, then re-entered at a 10 pip worse price only to close it at +19. wtf?
Also, I went long on e/j for -11 then have it turn and break out again for a good 20+ pip move....Hmmmmmm

I see g/u is finally setting up nicely for the short trade......must be 12:00 reversal hr. and gap time false move!!! LOL
I'm finished, not touching it.

EDIT: I know, if there was not a good setup on h1-h4, why even take a trade.........?? Good question you have there, glad you asked.


EUR/JPY 1 S 135.228 135.190 3.8 0.42 0.00 10/15/2009 12:20 10/15/2009 12:54
GBP/USD 1 S 1.62576 1.62529 4.7 0.47 0.00 10/15/2009 12:07 10/15/2009 12:53
EUR/JPY 1 B 135.209 135.228 1.9 0.21 0.00 10/15/2009 12:14 10/15/2009 12:20
EUR/JPY 1 B 135.195 135.236 4.1 0.45 0.00 10/15/2009 12:14 10/15/2009 12:20
EUR/JPY 1 S 135.083 135.202 -11.9 -1.32 0.00 10/15/2009 11:44 10/15/2009 12:14
GBP/USD 1 B 1.62552 1.62576 2.4 0.24 0.00 10/15/2009 12:02 10/15/2009 12:07
GBP/USD 1 S 1.62466 1.62541 -7.5 -0.75 0.00 10/15/2009 12:00 10/15/2009 12:02
GBP/USD 1 S 1.62598 1.62407 19.1 1.91 0.00 10/15/2009 11:33 10/15/2009 11:45
EUR/JPY 1 B 135.098 135.083 -1.5 -0.17 0.00 10/15/2009 11:23 10/15/2009 11:44
GBP/USD 1 B 1.62708 1.62598 -11 -1.10 0.00 10/15/2009 11:28 10/15/2009 11:33
GBP/USD 1 S 1.62698 1.62717 -1.9 -0.19 0.00 10/15/2009 11:03 10/15/2009 11:28
EUR/JPY 1 S 134.883 135.096 -21.3 -2.36 0.00 10/15/2009 11:06 10/15/2009 11:23
GBP/USD 1 S 1.62629 1.62731 -10.2 -1.02 0.00 10/15/2009 10:59 10/15/2009 11:03
13 -29.3 -3.21 0.00

[prochargedmopar]

Mightyone wrote:

The trades are not random I assure you Smile

1. Price does not want to move lower
2. Price is moving higher
3. BUY

The only skill involved is making it to +6 so that my risk drops to zero.

After that it is fate that price should move to bring me as much as 4.17% without slapping me with a B.E. or nearly 1.5% gain.

I wish to show everyone that they do not need a guru, indicator, or special powers to make money trading.

You just have to:

a. reduce risk
b. take profits quickly
c. take profits slowly

I also wish to show everyone that luck can be a significant part of your trading plan without you feeling ashamed about it.

Remember that every candle only has 2 extremes and price will move a great distance from either one (the most powerful money making advise EVER!)

But which one?

Well how would you like it if you paid nothing for picking the wrong one and profited handsomely for being right?

That is what the money management on the main page is about.

How do you make money?

You don't lose it.

[prochargedmopar]

The study of momentum via closed candles lets you know how long it should take price to move your way.

For every hour of momentum you should get two hours of price movement.

When the candle hugging momentum closes into the momentum candle's real body then the momentum is reduced by the close of the hugging candle.
Likewise, when the hugging candle extends further after momentum, the momentum is increased by the close of the hugging candle.

If the momentum is increased by 1 candle then you get 4 hours of price movement.