ProchargedMopar's Trading Trilogy

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MightyOne
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Postby MightyOne » Sun Jan 17, 2010 2:15 am

prochargedmopar wrote:Only way it will change is if there is a deletion of lines, squiggly or other, NOT an addition.

Last 10 days of trading log.

Actual starting balance 598.50
Default Bal. 47.00 - Target 460.10

Day/Date/pips/P-L/Bal/lot size

1-4th +52 $8.00 - 55.00 (2)
2-5 +32 $6.70 - 60.96 (3)
3-6 +50 $9.00 - 69.96 (3)
4-7 +32 $6.38 - 76.34 (3)
5-8 +18 $5.49 - 81.83 (3)
6-11 +41 $7.30 - 89.13 (3)
7-12 +22 $9.19 - 98.32 (4)
8-13 +18 $7.04 - $105.36 (4)
9-14 +19 $7.20 - $112.56 (4+)
10-15 +22 $8.80 - $121.36 (4)

Doubled money in 10 days.

My money management trading plan: "Pro's 20 pips to $Freedom$"

For the impatient the first 2-3 levels will be the hard part, after that the ball starts to ROLL.

Starting balance based on increments of 3.
$30.00, $300.00, ect

First Go round is using 10 cent pips to prove to yourself and to build confidence that you can succeed in your quest for freedom. A Dry Run.

New balance/Lot size/Daily profit/ # of days trading
Phase 1:

$30 - 10cents - $2per day - 15 days
$62 - 20 -$4 - 8
$92 - 30 - $6 - 5
$124 - 40 - $8 - 4
$154 - 50 - $10 - 3
$178 - 60 - $12 - 2
$234 - 70 - $14 - 2
$262 - 80 - $16 - 2
$294 - 90 - $18 - 2
$330 - $1 - $20 -2
$370 - $1.10 - $22 - 1
$392 -$1.20 - $24 - 2
$440 - $1.30 - $26 -1
$466 - $1.40- $28 - 1
$494 - $.50 - $30 - Time to go to FREEDOM Level

Start with $494 and use $2 pips!!!
Do it all over again but move Decimal one place to right..

Phase 2:

$494 - $2 - $40per day 3 days
$614 - $3 - $60 5
$914 - $4 - $80 4
$1234 - $5 - $100 3
$1534 - $6 - $120 2
$1774 - $7 - $140 2
$2054 - $8 - $160 2
$2374 - $9 - $180 1
$2554 - $10 -$200 2
$2954 - $11 - $220 2
$3394 - $12 - $240 1
$3634 - $13 - $260 1
$3894 - $14 - $280 2
$4454 - $15 - $300 PER DAY INCOME!!!

You add up the days....

20 pips a day baby.......I won't write up Phase 3 BUT.

START WITH $20 PIPS...... and finish with $3000 a day income...HEHEHEHE


It is better to do something similar to value averaging with your money management.

Lets say that you have $400 and wish to be a millionaire in four years:

You do the math and see that 20% compound per month will get you there.

At the end of the first month you have made 160% and you reduce your position size by 87.5%

At the end of month two you show a profit of 13% and increase your position size by 54%.

If you decide to stick to this goal that would mean that you are making $250,000 per year even if you can't pocket it just yet ;)

If you do not want to fall below your goal during any month then you could aim for 30% compound and adjust your position size accordingly.

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Postby prochargedmopar » Mon Jan 18, 2010 3:16 pm

I agree now TRO,

M.O., Not sure exactly how that will help with the 20 pips a day scenario and 3.25% risk per trade I'm using at the moment??

I can't see past the 3rd phase yet.
I'm now researching psychology and Money management so I'll review what you've posted.



Image

Something that may be of interest:
Look at the green colored spots.
15-50 pip moves from the points of interest.
Happens every day, all day, with all currencies!!!!!

The hand drawn trendline has been on the chart for 5 days.....all I've done is extend it each trading day.
Price come to the pivots/ and Yhigh/Ylow to the PIP most times.
Can make a living off that ONE thing alone.
VERY EASY PIPS.

As close to a guarantee as you could have to instant profit. Just be sure you don't try to catch a falling knife, and be aware of the movement/momentum of the market on approach.

Most times price will not even hit the area the first or second try, mofo's are jumping the gun!!! LOL

Image
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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prochargedmopar
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Postby prochargedmopar » Tue Jan 19, 2010 4:07 pm

2 scalps on drive to work and one quick one at lunch break.
Target hit, Close trading station.

I promised the wife I would not trade Asian session because I've basically been absent from the family for almost a year and it's taking it's toll.
Well, Wed. only. LOL

Image
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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prochargedmopar
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Postby prochargedmopar » Wed Jan 20, 2010 6:07 am

Sat down at lunch break and looked at charts about 5min........kept flipping between e/j and g/u trying to decide which one to trade.

G/u broke down, I hit it long when price stalled....took some off and close final position, Immediately hit it short, booked small amount and hit it long again off bottom. DANG, wish I would have held that about 1-2 min longer.

Anyway, done for day in about 10 min.
Look at right side of chart to see the PA that I traded.
Next level tomorrow.

Image
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby pablo101 » Wed Jan 20, 2010 11:23 am

prochargedmopar wrote:I agree now TRO,

M.O., Not sure exactly how that will help with the 20 pips a day scenario and 3.25% risk per trade I'm using at the moment??

I can't see past the 3rd phase yet.
I'm now researching psychology and Money management so I'll review what you've posted.



Image

Something that may be of interest:
Look at the green colored spots.
15-50 pip moves from the points of interest.
Happens every day, all day, with all currencies!!!!!

The hand drawn trendline has been on the chart for 5 days.....all I've done is extend it each trading day.
Price come to the pivots/ and Yhigh/Ylow to the PIP most times.
Can make a living off that ONE thing alone.
VERY EASY PIPS.

As close to a guarantee as you could have to instant profit. Just be sure you don't try to catch a falling knife, and be aware of the movement/momentum of the market on approach.

Most times price will not even hit the area the first or second try, mofo's are jumping the gun!!! LOL

Image


Hi Pro, nice one with the 'consistent' pips, you're now a force to reckon with! :)

I feel you want to let us know something, what's the green dots on your charts?
What line? The line that tells you which way you are trading! - MO

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Postby prochargedmopar » Thu Jan 21, 2010 3:00 am

pablo,
Notice todays chart how price bounced off DPV to the PIP!!!!
If you look left you will see why.

TRO was correct when he said that the Tro_OHLM indicator was a very powerful tool.

Daily pivots are too!!!

Done for day Asian, will trade London and NY on practice account.

I'm forcing my son(15) to trade with me for 2hrs on wed nights. He took 2 trades on my live practice account. -2.2 and +18.5.
Not bad, He held for more profit than I do most times..........LOL

Image
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby pablo101 » Thu Jan 21, 2010 5:39 am

prochargedmopar wrote:pablo,
Notice todays chart how price bounced off DPV to the PIP!!!!
If you look left you will see why.

TRO was correct when he said that the Tro_OHLM indicator was a very powerful tool.

Daily pivots are too!!!

Done for day Asian, will trade London and NY on practice account.

I'm forcing my son(15) to trade with me for 2hrs on wed nights. He took 2 trades on my live practice account. -2.2 and +18.5.
Not bad, He held for more profit than I do most times..........LOL

Image


What is DPV? Daily pivot v...?

Thanks for the heads up on the tro indi, no complaints about his indis but it'll be nice for some instructions! ;P

Shame on you for forcing your son to trade. But in the long run I know he'll be alright with dad around :)
What line? The line that tells you which way you are trading! - MO

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Postby prochargedmopar » Fri Jan 22, 2010 3:37 pm

Yeah, daily pivot.

Horizontal line trading at it's finest.
Daily High/Low is hard to beat also.

You really don't need them though if you LOOK at the chart.
EMOTIONS ARE THE KILLER, NOT THE MARKET, IT IS SIMPLE.



Well, I blew out my practice account on the big e/j drop. Why oh why?
$275 allowance money down the tube.
But what does my grandpa always ask.........DID YOU LEARN SOMETHING.

If I did then it was a VERY inexpensive lesson.

I sat there staring at the charts tonight for like 2 hrs......wondering if I should just call it a b/e day and still be 1 day ahead of schedule.
I wasn't sure about how I would respond.......then said to self....what the hell.

Here is the result.

Image

I also picked up +19 on that "practice" account during NY.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby razorboy » Sun Jan 24, 2010 1:15 am

Does this chart set up give you a positive mathematical expectancy?

Peter Crowns gave you everything you need to know...stop with the silly bounces, crosses or whatever. Work one signal and back test, back test, back test - this is the only way you will get the confidence you need to keep putting on trades. Use a signal that keeps your losses short and let your profits run........take a trade, put in a stop loss and walk away. The worst you will do is lose, which is exactly what happens when you cut a trade short. You need to build up the discipline to let them run, which if you look at this logically, should not be too hard given your results (and my early results) by cutting them short.

You are not the limiting factor(I assume you are a fully capable being and able to turn on a computer, launch your software and enter trades), the ability not to function like a casino is the limiting factor. Do you understand the probabilities behind a blackjack or roulette wheel?


prochargedmopar wrote:Thx, tmanbone,

No cudo's until I'm successful.
SOON.


Image

Ruff night at the office.


I've decided to use this chart setup until March 31st Minimum.

No changes,
No searching for systems,
No new indicators (sorry TRO, no 2010's for me)

I will trade bounces, breaks, retests, and crosses.

Couple MA's and some horizontal lines.

I am the limiting factor, NOT the chart, NOT the indicators!

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Postby PTG » Sun Jan 24, 2010 1:53 am

razorboy wrote:Does this chart set up give you a positive mathematical expectancy?

Peter Crowns gave you everything you need to know...stop with the silly bounces, crosses or whatever. Work one signal and back test, back test, back test - this is the only way you will get the confidence you need to keep putting on trades. Use a signal that keeps your losses short and let your profits run........take a trade, put in a stop loss and walk away. The worst you will do is lose, which is exactly what happens when you cut a trade short. You need to build up the discipline to let them run, which if you look at this logically, should not be too hard given your results (and my early results) by cutting them short.

You are not the limiting factor(I assume you are a fully capable being and able to turn on a computer, launch your software and enter trades), the ability not to function like a casino is the limiting factor. Do you understand the probabilities behind a blackjack or roulette wheel?


That is absolutely spot-on. Even better, you don't have to invent your own system. Pick any system with a proven edge. They're all over the place.

Take a system with an edge, ANY edge, and apply it ruthlessly. Stick to it. Do NOT modify, or you will be punished for it as I was. The picture below is from a statistical system that I run (a volatility breakout system) and I had the desire to specify taking profit at a point according to pre-defined rules. This bit me in the a$$ big time. I could have been up a whopping 9% on my account had I stuck to the rules. I need that badly to compensate for the bad days.

But look at the profits this simple system can achieve ! Simply by applying the rules on a daily basis; put in your orders, move the s/l the following day if still in trade, done. Walk away and let the market do its thing. No sweat. Unless you don't stick to the rules that are the basis for the edge; see below. I learned a lesson (again). No more modifying. Stick to the rules regardless of drawdowns (and the biggest one is always ahead of you).

Try it and see if you can do that. See if your head doesn't fook you up and test yourself if you really can stick to a system with a known, proven edge and continue to stick to it.

Remember trading is a means to an end, not the end itself (well at least not for me).

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