ProchargedMopar's Trading Trilogy

[prochargedmopar]

I learned a few things about ME today.


GBP/USD 2 B 1.65998 1.65960 -3.8 -0.76 0.00 12/4/2009 09:17 12/4/2009 09:18
EUR/JPY 1 S 134.173 134.039 13.4 1.50 0.00 12/4/2009 09:13 12/4/2009 09:18
EUR/JPY 1 S 134.019 134.025 -0.6 -0.07 0.00 12/4/2009 09:10 12/4/2009 09:18
GBP/USD 1 B 1.65537 1.65591 5.4 0.54 0.00 12/4/2009 08:58 12/4/2009 08:58
EUR/JPY 1 B 133.920 133.910 -1 -0.11 0.00 12/4/2009 08:54 12/4/2009 08:57
GBP/USD 1 B 1.65979 1.66058 7.9 0.79 0.00 12/4/2009 08:46 12/4/2009 08:47
GBP/USD 1 S 1.65861 1.65834 2.7 0.27 0.00 12/4/2009 08:39 12/4/2009 08:40
EUR/JPY 1 S 134.018 133.970 4.8 0.54 0.00 12/4/2009 08:38 12/4/2009 08:39
EUR/JPY 1 S 134.173 134.053 12 1.34 0.00 12/4/2009 08:36 12/4/2009 08:37
EUR/JPY 4 S 134.173 134.142 3.1 1.39 0.00 12/4/2009 08:36 12/4/2009 08:36
EUR/JPY 1 S 134.178 134.142 3.6 0.40 0.00 12/4/2009 08:31 12/4/2009 08:36
EUR/JPY 4 S 134.178 134.050 12.8 5.75 0.00 12/4/2009 08:31 12/4/2009 08:33
EUR/JPY 1 S 134.061 134.050 1.1 0.12 0.00 12/4/2009 08:30 12/4/2009 08:33
EUR/JPY 1 S 133.123 133.116 0.7 0.08 0.00 12/4/2009 08:24 12/4/2009 08:25
GBP/USD 1 B 1.65949 1.66161 21.2 2.12 0.00 12/4/2009 03:10 12/4/2009 03:17
GBP/USD 2 S 1.65955 1.65949 0.6 0.12 0.00 12/4/2009 03:06 12/4/2009 03:10
GBP/USD 1 B 1.66055 1.65955 -10 -1.00 0.00 12/4/2009 02:59 12/4/2009 03:06
GBP/USD 1 B 1.66076 1.65955 -12.1 -1.21 0.00 12/4/2009 03:02 12/4/2009 03:06
GBP/USD 1 S 1.66140 1.66055 8.5 0.85 0.00 12/4/2009 02:48 12/4/2009 02:59
GBP/USD 1 S 1.66140 1.66002 13.8 1.38 0.00 12/4/2009 02:48 12/4/2009 02:58
GBP/USD 10 S 1.66140 1.66003 13.7 13.70 0.00 12/4/2009 02:48 12/4/2009 02:57
GBP/USD 8 B 1.66131 1.66140 0.9 0.72 0.00 12/4/2009 02:45 12/4/2009 02:48
GBP/USD 2 S 1.66018 1.66131 -11.3 -2.26 0.00 12/4/2009 02:32 12/4/2009 02:45
GBP/USD 10 S 1.65991 1.66131 -14 -14.00 0.00 12/4/2009 02:39 12/4/2009 02:45
GBP/USD 2 S 1.65911 1.66076 -16.5 -3.30 0.00 12/4/2009 02:30 12/4/2009 02:39
GBP/USD 8 S 1.66018 1.66076 -5.8 -4.64 0.00 12/4/2009 02:32 12/4/2009 02:39
GBP/USD 2 B 1.65931 1.65911 -2 -0.40 0.00 12/4/2009 02:28 12/4/2009 02:30
GBP/USD 1 S 1.65819 1.65931 -11.2 -1.12 0.00 12/4/2009 02:17 12/4/2009 02:28
GBP/USD 1 S 1.65819 1.65815 0.4 0.04 0.00 12/4/2009 02:17 12/4/2009 02:22
GBP/USD 4 S 1.65819 1.65799 2 0.80 0.00 12/4/2009 02:17 12/4/2009 02:21
76 +40.3 3.58



+$21 this week, +$23 last thur/fri, +$50 dep. =
I now have 1440 pips to burn up next week!!!


Any indicator that lags price adds risk to your trade and reduces your profit potential.
I've cleaned up the charts a little more.

[adaseb]

Yeah that huge drop must of been when the unemployment numbers came out. They were greater than expected.

[prochargedmopar]

Quote from Peter Crowns (DIBS) pdf. on FF

What is everybody's problem? Don't you know that only losers get so freaked about having
losses???? Losses are just losses. Make sure they are smaller than your winners, in aggregate,
and you're home free. I suppress more frustration at this stupidity than you can imagine. Your mental state of trading is KEY.

[prochargedmopar]

All that matters is if my trades are according to plan.
Today, ONLY 3 of 10 were executed from entry to exit like they should have been.
This makes for a consistently losing trader in the long run.
1st and 10th were by the book.
1 trade Asian and 9 London.

#10 LAST
EUR/JPY 1 S 133.512 133.319 19.3 2.14 0.00 12/7/2009 05:31 12/7/2009 05:54
EUR/JPY 1 S 133.512 133.418 9.4 1.04 0.00 12/7/2009

05:31 12/7/2009 05:45
EUR/JPY 1 S 133.253 133.201 5.2 0.58 0.00 12/7/2009 05:01 12/7/2009 05:09
GBP/USD 1 S 1.63742 1.63644 9.8 0.98 0.00 12/7/2009 04:35 12/7/2009 04:51
GBP/USD 1 S 1.63643 1.63639 0.4 0.04 0.00 12/7/2009 04:31 12/7/2009 04:50
EUR/JPY 1 B 132.877 132.970 9.3 1.03 0.00 12/7/2009 04:24 12/7/2009 04:28
EUR/JPY 1 B 132.877 132.923 4.6 0.51 0.00 12/7/2009 04:24 12/7/2009 04:27
GBP/USD 1 B 1.63371 1.63436 6.5 0.65 0.00 12/7/2009 04:03 12/7/2009 04:06
EUR/JPY 1 B 132.896 132.955 5.9 0.66 0.00 12/7/2009 04:03 12/7/2009 04:06
GBP/USD 3 B 1.63371 1.63423 5.2 1.56 0.00 12/7/2009 04:03 12/7/2009 04:05
GBP/USD 2 B 1.63550 1.63423 -12.7 -2.54 0.00 12/7/2009 03:57 12/7/2009 04:05
EUR/JPY 3 B 132.896 132.961 6.5 2.17 0.00 12/7/2009 04:03 12/7/2009 04:05
EUR/JPY 2 B 133.044 132.961 -8.3 -1.84 0.00 12/7/2009 03:57 12/7/2009 04:05
EUR/JPY 2 B 132.993 132.963 -3 -0.67 0.00 12/7/2009 03:54 12/7/2009 03:56
GBP/USD 2 B 1.63457 1.63508 5.1 1.02 0.00 12/7/2009 03:55 12/7/2009 03:56
GBP/USD 1 S 1.63342 1.63457 -11.5 -1.15 0.00 12/7/2009 03:53 12/7/2009 03:55
GBP/USD 1 B 1.63454 1.63346 -10.8 -1.08 0.00 12/7/2009 03:52 12/7/2009 03:53
GBP/USD 1 S 1.64421 1.64482 -6.1 -0.61 0.00 12/7/2009 02:20 12/7/2009 02:45
EUR/JPY 2 S 133.653 133.506 14.7 3.28 0.00 12/7/2009 02:19 12/7/2009 02:44
GBP/USD 1 S 1.64421 1.64433 -1.2 -0.12 0.00 12/7/2009 02:20 12/7/2009 02:43

#1 1ST
EUR/JPY 1 B 133.972 134.227 25.5 2.83 0.00 12/6/2009 17:16 12/6/2009 17:56
30 +73.8 10.48

Trading chart,
Added the DIBS MultiMeter as an assistant alert mechanism to keep my mind open to trades in direction the daily trend.



You know something interesting......
I stayed home from work, sat in my captains chair, and had access to my 22" home computer monitor, 15.4" laptop with 19" flat hooked to it and I traded on my 8.9" netbook. Never even turned the others on.
Hmmmmmm

[prochargedmopar]

Asian session was b/e.
london ok
NY session just scalped m1 as it was a mess. LOL

multiple exits on most trades.

EUR/USD 1 B 1.47397 1.47304 -9.3 -0.93 0.00 12/8/2009 11:15 12/8/2009 11:22
EUR/USD 2 B 1.47259 1.47304 4.5 0.90 0.00 12/8/2009 11:20 12/8/2009 11:22
GBP/USD 1 B 1.62869 1.62911 4.2 0.42 0.00 12/8/2009 09:50 12/8/2009 09:56
GBP/USD 1 S 1.62804 1.62749 5.5 0.55 0.00 12/8/2009 09:44 12/8/2009 09:45
GBP/USD 1 B 1.62854 1.62804 -5 -0.50 0.00 12/8/2009 09:41 12/8/2009 09:44
GBP/USD 1 S 1.62896 1.62899 -0.3 -0.03 0.00 12/8/2009 09:30 12/8/2009 09:35
GBP/USD 1 B 1.63313 1.63473 16 1.60 0.00 12/8/2009 02:55 12/8/2009 03:07
GBP/USD 2 B 1.63313 1.63380 6.7 1.34 0.00 12/8/2009 02:55 12/8/2009 02:57
GBP/USD 1 B 1.63313 1.63382 6.9 0.69 0.00 12/8/2009 02:55 12/8/2009 02:56
GBP/USD 1 B 1.63484 1.63382 -10.2 -1.02 0.00 12/8/2009 02:51 12/8/2009 02:56
GBP/USD 2 B 1.63385 1.63382 -0.3 -0.06 0.00 12/8/2009 02:53 12/8/2009 02:56
GBP/USD 1 B 1.63430 1.63494 6.4 0.64 0.00 12/8/2009 02:45 12/8/2009 02:46
GBP/USD 1 S 1.63737 1.63601 13.6 1.36 0.00 12/8/2009 02:08 12/8/2009 02:11
GBP/USD 1 S 1.64121 1.63948 17.3 1.73 0.00 12/8/2009 01:42 12/8/2009 02:02
EUR/JPY 1 B 132.123 132.091 -3.2 -0.36 0.00 12/8/2009 01:54 12/8/2009 01:59
GBP/USD 1 S 1.64121 1.63939 18.2 1.82 0.00 12/8/2009 01:42 12/8/2009 01:49
GBP/USD 2 S 1.64121 1.63939 18.2 3.64 0.00 12/8/2009 01:42 12/8/2009 01:48
GBP/USD 2 S 1.63804 1.63938 -13.4 -2.68 0.00 12/8/2009 01:21 12/8/2009 01:48
GBP/USD 2 S 1.63955 1.63938 1.7 0.34 0.00 12/8/2009 01:23 12/8/2009 01:48
USD/CHF 2 B 1.01888 1.01903 1.5 0.29 0.00 12/8/2009 01:22 12/8/2009 01:32
EUR/JPY 1 S 132.319 132.265 5.4 0.61 0.00 12/7/2009 19:59 12/7/2009 20:05
EUR/JPY 1 S 132.319 132.271 4.8 0.54 0.00 12/7/2009 19:59 12/7/2009 20:05
EUR/JPY 2 B 132.455 132.508 5.3 1.19 0.00 12/7/2009 19:55 12/7/2009 19:56
EUR/JPY 2 B 132.495 132.513 1.8 0.40 0.00 12/7/2009 19:54 12/7/2009 19:56
EUR/JPY 2 B 132.454 132.586 13.2 2.95 0.00 12/7/2009 18:42 12/7/2009 19:33
GBP/USD 2 B 1.64674 1.64575 -9.9 -1.98 0.00 12/7/2009 18:42 12/7/2009 19:00
GBP/USD 2 B 1.64691 1.64651 -4 -0.80 0.00 12/7/2009 18:33 12/7/2009 18:42
EUR/JPY 2 B 132.562 132.433 -12.9 -2.89 0.00 12/7/2009 18:33 12/7/2009 18:42
+82.7 9.76

Will post new trading plan when I wake up..
Rev. #73.

[prochargedmopar]

Pro Plan V.44x

Philosophy:
Laws of supply and demand

Capital Preservation:
#1 6% max Risk per day/ Daily profit is added to total available.**
#2 Calculate stop and target before entry.
#3 Additional entries ONLY if amount does not exceed max Daily risk, See Rule #1


Pre-Trade Entry info:
#1 Know larger time frame supply/demand zones
#2 Horizontal price level alerts:
a)Session open buyzone (20 pips)
b)London DIBS H1, IB M30
c)1st Correction after breakouts
d)Corrections in established larger TF Moves
#3 Wholesale or Discount----NEVER CHASE PRICE

Trade Management:
#1 Exit at Target
#2 Exit on long candle- Must re-enter pullback
#3 Exit After failed New H/L
EDIT!!!
#4 Exit 1/2 only if twice the size of original stop (1:1) BECOMES FREE TRADE WITHOUT MOVING STOP.

Notes:
Do not trade e/j London or NY sessions if accumulation/distribution is in progress.

"Nuts in vice" still in effect for excess of 6% Daily loss!!!

** This means I CAN add to losing positions. Especially after a couple wins and my "feelers" were properly sized.

[Brookmyre]

I like this one PRO. I have been putting my trade plan together and I have quite a few of the same rules but you have a couple Im borrowing . Will you be managing the trade from a particular timeframe?

[prochargedmopar]

I like this one PRO. I have been putting my trade plan together and I have quite a few of the same rules but you have a couple Im borrowing . Will you be managing the trade from a particular timeframe?

well, not sure how to really explain this.
there is a certain amount of price info on your screen depending on the time it takes to create each candle. When you zoom out 5 clicks on a m5 or m15 chart...what time frame are you looking at then?

m1 gives you close-up view of what is happening now, at this moment but just as tro says, price is the same on all timeframes.

I usually look at m1/m5/m15 but if I do not see a "wall" or the info I need to make some decisions by zooming out I click on h1. then I'll check h4 and glance at daily's to see if there is a 300 pip move on the horizon. Weekly's are to much info at this point in time...gotta get a few 3-400 pip moves first.

Mostly once in a trade I watch price on m5 but it would do me great service to move up a notch or 2 to hide some of the information available. Would be easier to hit my targets, me thinks.

Anyway, just trying to grow and find out what it takes for me to not be using "scared money".

[Brookmyre]

I like this one PRO. I have been putting my trade plan together and I have quite a few of the same rules but you have a couple Im borrowing . Will you be managing the trade from a particular timeframe?

well, not sure how to really explain this.
there is a certain amount of price info on your screen depending on the time it takes to create each candle. When you zoom out 5 clicks on a m5 or m15 chart...what time frame are you looking at then?

m1 gives you close-up view of what is happening now, at this moment but just as tro says, price is the same on all timeframes.

I usually look at m1/m5/m15 but if I do not see a "wall" or the info I need to make some decisions by zooming out I click on h1. then I'll check h4 and glance at daily's to see if there is a 300 pip move on the horizon. Weekly's are to much info at this point in time...gotta get a few 3-400 pip moves first.

Mostly once in a trade I watch price on m5 but it would do me great service to move up a notch or 2 to hide some of the information available. Would be easier to hit my targets, me thinks.

Anyway, just trying to grow and find out what it takes for me to not be using "scared money".

I have come to the same opinion on timeframes so everything you said made perfect sense

tro says, price is the same on all timeframes.

He does and I've taken that one to heart. I've found though that while price is the same on all tf, Im not. How I feel changes. On lower tf I feel pressured to make decisions that I feel relaxed and in control of on larger tf. I think your right about it being easier to hit those targets on the higher timeframe.

Keep growing, my friend cause every time you grow I learn something

[prochargedmopar]

A few trades London:
2%ish increase



2 trades NY fxdd mini
5.x% increase


We are speculating here.
This is gambling.
I am NOT the casino, I have better odds and more options.
More later.