ProchargedMopar's Trading Trilogy

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PTG
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Postby PTG » Sat Oct 24, 2009 8:45 pm

prochargedmopar wrote:
PTG wrote:
lukx wrote:Well based on what's written here http://www.babypips.com/school/what_sho ... ading.html

I don't have the first main point: trading system!
So I don't think I can have the rest of the points of trading plan created.


Sounds to me like chasing ones own tail :P
Forget the babypis shite. Backtesting ? Useless. Forget whatever else they write, no time to waste here.

I wouldn't make it too difficult. Wite down
- when you consider an entry
- where your protective stops need to be
- how you want to manage your exit
- what your money management looks like

I suggest you start with H4 stop and reverse, go to H1, etc. etc. Sounds familiar ? Yes, you were into that not too long ago. Then I saw you being distracted and loosing money on something else that has nothing to do with Dragon's entries. That's because you don't even have a dirty napkin to work off of !

Another thing, and this is VERY important. Once more, you write that you CANNOT do something, for this or that reason. Stop doing that. Turn ir around and make it a POSIIVE question. That way your brain will help you to find SOLUTIONS instead of concentrating on the PROBLEMS.


Your a smart man PTG.

The difference,

Poor, "We don't have the money, can't afford that"

Rich, "How can we make the money, so we can afford that"

BIG DIFFERENCE


Smart :shock: Dunno, let me go ask my wife :lol:

But yeah, you're right. That's the idea.
Making money has to become a natural, like peeing INside the toilet, instead of all over the place :shock: :lol:

By the way, my apologies for going off-track in your thread, if we have to stop please do say so !
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Postby PTG » Sat Oct 24, 2009 8:52 pm

Thanks by the way for mentioning those Sam Seiden videos. They were on my list to watch, but hadn't done that yet. After watching the first one, I decided to watch them all. It is really worth every minute (for me at least) because it provides a very good insight into the institutional traders vs. the novice retail traders. One needs to understand this stuff to be able to take advantage of the institutional freight train instead of getting one in your eye :smt064
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Postby prochargedmopar » Sat Oct 24, 2009 8:56 pm

Lukx,

Study this chart!!!!

Do you see that every time price would go up, build a base, (resistance in a supply zone) re-test, then MOMO would show the next BIG drop?? (relative to m5 candles)
Those are the rat triggers that work!!!!!!!!!!!!!!

Looks easy.
For some reason I continue to trade in the opposite direction. I seem to be doing pretty good considering I'm always taking the high risk trades... LOL

I'm gonna reverse the reversal trading this week.
Those videos helped me get over the hump. I know it will.
It's got to, somethings gotta give.

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Postby lukx » Sun Oct 25, 2009 7:23 pm

this is so depressing , spending so much time reading all those post in NLA thread for the third time and still can't see a thing. I wasted so many weekends to try figure it out what Dragon 33, MO and es/pip can see, and still nothing. What worries me is that no one noticed two totally opossite things that MO and TRO are preaching. TRO: everythign is possible, nothing is predictable, there is nor right and wrong, that outcome can be anything. While MO is trying to show that it's very predictable and you just have to SEE.

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Postby prochargedmopar » Sun Oct 25, 2009 9:46 pm

Lukx,

Money is the root of all evil?
The lack of money is the root of all evil?

OR

The belief in the lack of money is the root of all evil?

Did you watch those videos......?
All of them.

If you understand the laws of supply and demand, what else is there but refinement??

Think of this, if price is dropping from 1.5000 (sellers are in control)
And we have 500,000,000,000 (yeah, 500 billion) worth of BUY orders waiting at 1.4960.

What happens when price gets to that level?
It stops (consolidates) while the buy orders are being filled UNTIL all the sellers have been swallowed up.
Then what happens?
Price shoots up like a rocket because there are no more sellers.

Drop/Base/Rally

Now price starts to fizzle and drop back into the 1.4960 area......this time with less force because there are less sellers but still buyers waiting to have orders filled.

Now we get our "bounce".

Big momo out of the area, slight pullback, trade long.

Do you see that???????

TRO is a much different trader than M.O. or dragon.

He's not on es/pip's A@@ for not following the simple rat rules.......why??

Because es/pip is profitable....
Remember, there is no right or wrong, only profitable or unprofitable.
If you are meeting your goals, why change what your doing?
If not, WE have to start somewhere to remedy that situation.

If you can't be a discretionary trader, which many can't, then you've got to find a rules based/rat type system.

I'm a discretionary trader or BUST.
So far it's been bust, lost about 2.5k so far.

A VERY SMALL price to pay for what is just around the corner.

NEVER QUIT!!!!!!
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Postby PTG » Sun Oct 25, 2009 9:55 pm

lukx wrote:this is so depressing , spending so much time reading all those post in NLA thread for the third time and still can't see a thing. I wasted so many weekends to try figure it out what Dragon 33, MO and es/pip can see, and still nothing. What worries me is that no one noticed two totally opossite things that MO and TRO are preaching. TRO: everythign is possible, nothing is predictable, there is nor right and wrong, that outcome can be anything. While MO is trying to show that it's very predictable and you just have to SEE.


Have you made a plan ?

Have you not read what I posted ?

Forget TRO, forget MO. Instead focus on the VERY simple H4 stop/reverse method that Dragon posted.

You are making the mistake that you worry about others. You should worry about yourself.

You are switching too much, and therefore you make your life a difficult one. Is there a reason you don't want to stick to that H4/H1 reversal thing ?

Another thing that I suspect you're not really getting, is that which Sam Seiden teaches in his video's, for example you don't want to buy/sell into a trend when the trend is over. You need to be one of the first in order to get the low risk / high probability trades.
You have to look for a reversal (or a breakout). To find those, you need to look at the bigger picture. You will find supply- and demand levels there. That is where the pivot points are, and where prices are likely to turn around.

I suggest you go and watch those video's (again). It is the same idea as MO's MZ/ZL and also the same as TRO's RAT stuff. You need to be able to see the bigger picture, and why what you're doing doesn't work. Not having a plan is one of them. Not believing in yourself is another one.

Another thing you should do, is read back all of the posts that you have made, and analyze which trades worked and which didn't.

Then there is that mental issue again: by saying the weekends are wasted, you are refering invested time to current outcome, as if that is the final outcome. It is like you don't believe in yourself. That's not going to work, you need to change that !

This is hard work. The rewards on the other hand can be considerable. Do not expect that it works tomorrow. Sometime you will see the light, but only if you continue to work on yourself and your ability to get 'it'.
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Postby PTG » Sun Oct 25, 2009 10:04 pm

By the way, there were gaps on GU and EU. I didn't check the others.

Sunday's gaps are usually very profitable. It was about 15 pips each pair. Nice to have those before the week even starts.
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Postby prochargedmopar » Sun Oct 25, 2009 11:37 pm

This is funny.
Some would say the trade worked because CCI was overbought and price was touching the upper bollinger bands.

Others might say.....but, but, we have an m5 UP momo. Go Long.

What do you SEE?

Image
Last edited by prochargedmopar on Mon Oct 26, 2009 12:07 am, edited 1 time in total.
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Postby PTG » Sun Oct 25, 2009 11:53 pm

To be honest I see nothing because the trend is not clear to me on this picture.

Based on my own estimates, there is a demand level below from 1.6235 to 1.6280. In other words, there is room down.

Trend on H1 is down. You don't want to buy because of that. You don't want to sell either (because the price has fallen so much already), but if you would want to, then based on that bigger picture, and assuming the R/R is to your liking, you would want to sell when the CCI goes back through the +100 from 'overbought' (which is a BS term, but anyway). That would have been 1.63145 or thereabouts. You would have been in profit right now, as I type this post, a whopping 50 pips =P~

Instead of the CCI you would want to buy the pullback. It's the same at the end of the day, just two different methods.

I want to see that trend change before I would consider taking a LONG.
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Postby PTG » Mon Oct 26, 2009 12:18 am

" I see nothing because the trend is not clear to me on this picture."

I meant to say the higher TF trend ](*,)

The trend as such on this chart is clear of course: down.
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