ProchargedMopar's Trading Trilogy

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aliassmith
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Postby aliassmith » Wed Mar 03, 2010 3:35 pm

prochargedmopar wrote:Had couple losses so decided to just hit it, get a little mojo back.
Took a couple extra trades.

It's a totally different psychology scalping, totally. Much easier.

Image


Great Job Pro,

I am testing the M5 scalping, hopefully I can get as good as you :wink:
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Postby aliassmith » Wed Mar 03, 2010 4:22 pm

prochargedmopar wrote:Had couple losses so decided to just hit it, get a little mojo back.
Took a couple extra trades.

It's a totally different psychology scalping, totally. Much easier.

Image


Does the P/L on your account statement represent pips?
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Postby aliassmith » Thu Mar 04, 2010 4:43 pm

One of the Nice Trades today on M5 EUR/USD
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prochargedmopar
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Postby prochargedmopar » Thu Mar 04, 2010 5:41 pm

yeah, 11.7 " screen, not helping....LOL
P/L is pips but you can't count those as I scale out.
I can trade the market big time watching it. Press the mouse and my world turns up-side down.
Day 41, Day 6 of 2nd cycle.

Went on TILT,

-20% of account.

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

aliassmith
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Postby aliassmith » Thu Mar 04, 2010 6:01 pm

prochargedmopar wrote:yeah, 11.7 " screen, not helping....LOL
P/L is pips but you can't count those as I scale out.
I can trade the market big time watching it. Press the mouse and my world turns up-side down.
Day 41, Day 6 of 2nd cycle.

Went on TILT,

-20% of account.

Image


It is my fault! I forgot to tell you today "DON'T GO ON TILT"

-20% is a little over 6 full stoplosses, I think your leverage is too high
especialy if you are still prone to go on tilt. :cry:

Maybe 10 pips equals: Based on full account size:
1% @ 20 pips a day is 2% @ 20 trading days a month is 40%
1.5% @ 20 pips a day is 3% @ 20 trading days a month is 60%
2% @ 20 pips a day is 4% @ 20 trading days a month is 80%

$1000 compounded at 40% a month:
$1,000.00
1 $1,400.00
2 $1,960.00
3 $2,744.00
4 $3,841.60
5 $5,378.24
6 $7,529.54
7 $10,541.35
8 $14,757.89
9 $20,661.05
10 $28,925.47
11 $40,495.65
12 $56,693.91

EDIT: May I suggest that you keep a log of every trade you take.
Write down what you are thinking and feeling and then go back and
compare the charts with your log. It may help with the craziness that
goes on in your head after you hit the mouse button.
Last edited by aliassmith on Thu Mar 04, 2010 6:05 pm, edited 1 time in total.
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es/pip
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Postby es/pip » Thu Mar 04, 2010 6:03 pm

prochargedmopar wrote:yeah, 11.7 " screen, not helping....LOL
P/L is pips but you can't count those as I scale out.
I can trade the market big time watching it. Press the mouse and my world turns up-side down.
Day 41, Day 6 of 2nd cycle.

Went on TILT,

-20% of account.

Image



ugggggghhhhhhhhhhhhhhhh

1. did you average down?

2. what % risk are you trading at?---- per trade
Bend over and assume the position for another 4 years of hope and change.

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Postby prochargedmopar » Fri Mar 05, 2010 12:15 am

es/pip wrote:
prochargedmopar wrote:yeah, 11.7 " screen, not helping....LOL
P/L is pips but you can't count those as I scale out.
I can trade the market big time watching it. Press the mouse and my world turns up-side down.
Day 41, Day 6 of 2nd cycle.

Went on TILT,

-20% of account.

Image



ugggggghhhhhhhhhhhhhhhh

Al

1. did you average down?

2. what % risk are you trading at?---- per trade


alias,
When it comes to money, believe me, I've done all the calculations.
hehehe

es/pip,
YES.

I risk (supposedly) 3.25% per trade, I've been having difficulty this cycle trying to use full pip value so usually much less. Stop is at 7+spread.
I have a very bad habit of doubling almost instantly and grabbing 4-5 pips and then bailing at b/e of last 2 combined trades. Trading the account balance instead of chart.

It bit me today as I ventured up to $15 pips showing $600 balance.
I was short e/j at +22 just before news, I decided to close out with 20% loss instead of risking 60% on news spike. If not for news there was nothing on the chart telling me to exit until my target of 50+ pips.

I still live to trade another day. At full pip value it's ONLY 75 pips. I'll make it hard on myself and drop back to $1 pips for a while.
Plan out window atm, maybe I should re-start first cycle again.
Not sure what to do.

I'm going to an Online trading academy event with sam seiden next week.
They have a few speakers lined up and are suppose to teach equity/risk management and play a simulated trading game. (advertisement basically) but should have some good basic info. It's Free.

I'm also going to a 3 day workshop with Chris Lori of forex mentor in NC next month.
I signed up for the Pro traders club market reviews and I'm attending a free online webinar next week for members.

I've watched
Inside the banks
Complete FX trading course
Optimal trade entries
High probability reversal patterns
Psychology and risk
5hr webinar
Forex mentor scalping course
Trading S&R course (vic noble)
HLRL course and Bonus package (vic noble and some ausy)

There is hundreds and hundreds of hrs of vids by Lori in PTC.
I've started from 06 and plan to watch them all the way through.
Focusing on how he manages his trades and his views of the market.
I'm in Feb 07'.
LOL
Complete fx is 24hrs of vids, I've watched it 5x.
The others run 1-5hrs
We'll see.

I'M NOT QUITING!!!!!
#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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es/pip
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Postby es/pip » Fri Mar 05, 2010 12:36 am

prochargedmopar wrote:
es/pip wrote:
prochargedmopar wrote:yeah, 11.7 " screen, not helping....LOL
P/L is pips but you can't count those as I scale out.
I can trade the market big time watching it. Press the mouse and my world turns up-side down.
Day 41, Day 6 of 2nd cycle.

Went on TILT,

-20% of account.

Image



ugggggghhhhhhhhhhhhhhhh

Al

1. did you average down?

2. what % risk are you trading at?---- per trade


alias,
When it comes to money, believe me, I've done all the calculations.
hehehe

es/pip,
YES.

I risk (supposedly) 3.25% per trade, I've been having difficulty this cycle trying to use full pip value so usually much less. Stop is at 7+spread.
I have a very bad habit of doubling almost instantly and grabbing 4-5 pips and then bailing at b/e of last 2 combined trades. Trading the account balance instead of chart.

It bit me today as I ventured up to $15 pips showing $600 balance.
I was short e/j at +22 just before news, I decided to close out with 20% loss instead of risking 60% on news spike. If not for news there was nothing on the chart telling me to exit until my target of 50+ pips.

I still live to trade another day. At full pip value it's ONLY 75 pips. I'll make it hard on myself and drop back to $1 pips for a while.
Plan out window atm, maybe I should re-start first cycle again.
Not sure what to do.

I'm going to an Online trading academy event with sam seiden next week. Suppose to teach equity/risk management.
I'm also going to a 3 day workshop with Chris Lori of forex mentor in NC next month.
Also signed up for the Pro traders club market reviews and attending a free webinar next week also.

We'll see.


yeah i noticed in some of your screen shots that the executions were 1k 1k 3k then all of a sudden 30k 50k--- figured thats what you were doing

it always works great till it doesn't that 1 time.

the RULE OF ALL RULES of trading is to never average into a loser----ever

there are only 3 ways to stop doing it

1. blow up enough accounts and be out of the game

2. lose enough money that you finally stop doing it

3. accept your loss and move on to the next trade


as far as all the seminars

well

it all comes down to you vrs yourself-----

you may pick up a couple little things from "teachers"---

but i wouldn't pay anyone any money to "teach" you anything

its PRO vrs PRO at this point
Bend over and assume the position for another 4 years of hope and change.

aliassmith
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Postby aliassmith » Fri Mar 05, 2010 1:42 pm

es/pip wrote:
prochargedmopar wrote:
es/pip wrote:
prochargedmopar wrote:yeah, 11.7 " screen, not helping....LOL
P/L is pips but you can't count those as I scale out.
I can trade the market big time watching it. Press the mouse and my world turns up-side down.
Day 41, Day 6 of 2nd cycle.

Went on TILT,

-20% of account.

Image



ugggggghhhhhhhhhhhhhhhh

Al

1. did you average down?

2. what % risk are you trading at?---- per trade


alias,
When it comes to money, believe me, I've done all the calculations.
hehehe

es/pip,
YES.

I risk (supposedly) 3.25% per trade, I've been having difficulty this cycle trying to use full pip value so usually much less. Stop is at 7+spread.
I have a very bad habit of doubling almost instantly and grabbing 4-5 pips and then bailing at b/e of last 2 combined trades. Trading the account balance instead of chart.

It bit me today as I ventured up to $15 pips showing $600 balance.
I was short e/j at +22 just before news, I decided to close out with 20% loss instead of risking 60% on news spike. If not for news there was nothing on the chart telling me to exit until my target of 50+ pips.

I still live to trade another day. At full pip value it's ONLY 75 pips. I'll make it hard on myself and drop back to $1 pips for a while.
Plan out window atm, maybe I should re-start first cycle again.
Not sure what to do.

I'm going to an Online trading academy event with sam seiden next week. Suppose to teach equity/risk management.
I'm also going to a 3 day workshop with Chris Lori of forex mentor in NC next month.
Also signed up for the Pro traders club market reviews and attending a free webinar next week also.

We'll see.


yeah i noticed in some of your screen shots that the executions were 1k 1k 3k then all of a sudden 30k 50k--- figured thats what you were doing

it always works great till it doesn't that 1 time.

the RULE OF ALL RULES of trading is to never average into a loser----ever

there are only 3 ways to stop doing it

1. blow up enough accounts and be out of the game

2. lose enough money that you finally stop doing it

3. accept your loss and move on to the next trade


as far as all the seminars

well

it all comes down to you vrs yourself-----

you may pick up a couple little things from "teachers"---

but i wouldn't pay anyone any money to "teach" you anything

its PRO vrs PRO at this point


"it always works great till it doesn't that 1 time"

Actually I did an experiment on this type of trading. Average loser and double up on loser, without taking stops.

It works well until the one time you get a margin call.

BTW Pro, my comments were more for someone that still needs to
control emotions while trading, not a math lesson.

Lower risk with still a realistic expectation can reduce emotional stress
as you have seen from your own experience.

Watching 1 million videos will not fix that, only you can make that change.
Make that hand written trading log and evaluate why you do the things you
do.
Last edited by aliassmith on Sun Mar 07, 2010 3:08 pm, edited 1 time in total.
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es/pip
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Postby es/pip » Fri Mar 05, 2010 2:39 pm

aliassmith wrote:
es/pip wrote:
prochargedmopar wrote:
es/pip wrote:
prochargedmopar wrote:yeah, 11.7 " screen, not helping....LOL
P/L is pips but you can't count those as I scale out.
I can trade the market big time watching it. Press the mouse and my world turns up-side down.
Day 41, Day 6 of 2nd cycle.

Went on TILT,

-20% of account.

Image



ugggggghhhhhhhhhhhhhhhh

Al

1. did you average down?

2. what % risk are you trading at?---- per trade


alias,
When it comes to money, believe me, I've done all the calculations.
hehehe

es/pip,
YES.

I risk (supposedly) 3.25% per trade, I've been having difficulty this cycle trying to use full pip value so usually much less. Stop is at 7+spread.
I have a very bad habit of doubling almost instantly and grabbing 4-5 pips and then bailing at b/e of last 2 combined trades. Trading the account balance instead of chart.

It bit me today as I ventured up to $15 pips showing $600 balance.
I was short e/j at +22 just before news, I decided to close out with 20% loss instead of risking 60% on news spike. If not for news there was nothing on the chart telling me to exit until my target of 50+ pips.

I still live to trade another day. At full pip value it's ONLY 75 pips. I'll make it hard on myself and drop back to $1 pips for a while.
Plan out window atm, maybe I should re-start first cycle again.
Not sure what to do.

I'm going to an Online trading academy event with sam seiden next week. Suppose to teach equity/risk management.
I'm also going to a 3 day workshop with Chris Lori of forex mentor in NC next month.
Also signed up for the Pro traders club market reviews and attending a free webinar next week also.

We'll see.


yeah i noticed in some of your screen shots that the executions were 1k 1k 3k then all of a sudden 30k 50k--- figured thats what you were doing

it always works great till it doesn't that 1 time.

the RULE OF ALL RULES of trading is to never average into a loser----ever

there are only 3 ways to stop doing it

1. blow up enough accounts and be out of the game

2. lose enough money that you finally stop doing it

3. accept your loss and move on to the next trade


as far as all the seminars

well

it all comes down to you vrs yourself-----

you may pick up a couple little things from "teachers"---

but i wouldn't pay anyone any money to "teach" you anything

its PRO vrs PRO at this point


"it always works great till it doesn't that 1 time"

Actually I did an experiment on this type of trading. Average loser and double up on loser, without taking stops.

It works well until the one time you get a margin call.

BTW Pro, my comments were more for someone that still needs to
control emotions while tradinging, not a math lesson.

Lower risk with still a realistic expectation can reduce emotional stress
as you have seen from your own experience.

Watching 1 million videos will not fix that, only you can make that change.
Make that hand written trading log and evaluate my you do the things you
do.



yeah i learned by blowing out a couple of accounts

finally was able to accept a loss

now if it is not going my way i WANT out of it as quick as i can be out of it

never HOPE for something to happen

if you start hoping just close it
Bend over and assume the position for another 4 years of hope and change.

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