ProchargedMopar's Trading Trilogy

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prochargedmopar
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Postby prochargedmopar » Wed Apr 28, 2010 11:37 am

Slow and steady. +130

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#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 zapzinig » Wed Apr 28, 2010 6:00 pm

Pro,

Since you brought up the MO sit down price challenge, I decided to take it.
First I demo traded it with forex tester 2 on about 2 weeks of data last night. The account was up 80% trading EU GU and EJ simultaneously.

This morning I live traded it with micro lots the exact setup I used in demo.

Results 6 trades across 3 pairs average 31 pips each.

I drew a line when I sat down to trade on all 3 pairs. I took the first trade and exited with a profit. Got up left for and hour and a half .

When I returned I drew a new line (white dotted on M30 charts). Waited for a body in direction of profit and I entered the second set of trades.
I exited with a profit, had to close trades early for a lunch appointment even though bodies were still closing in the direction of profit.

By doing this challenge I have learned to see price move relative only to a line. When bodies are closing in profit, the line keeps me in trades way longer than I ever would have stayed before.

-zz

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Image

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Postby prochargedmopar » Wed Apr 28, 2010 11:19 pm

zapzinig wrote:Pro,

Since you brought up the MO sit down price challenge, I decided to take it.
First I demo traded it with forex tester 2 on about 2 weeks of data last night. The account was up 80% trading EU GU and EJ simultaneously.

This morning I live traded it with micro lots the exact setup I used in demo.

Results 6 trades across 3 pairs average 31 pips each.

I drew a line when I sat down to trade on all 3 pairs. I took the first trade and exited with a profit. Got up left for and hour and a half .

When I returned I drew a new line (white dotted on M30 charts). Waited for a body in direction of profit and I entered the second set of trades.
I exited with a profit, had to close trades early for a lunch appointment even though bodies were still closing in the direction of profit.

By doing this challenge I have learned to see price move relative only to a line. When bodies are closing in profit, the line keeps me in trades way longer than I ever would have stayed before.

-zz

Image

Image

Image


I drew a line on e/u during london, traded for about 20ish pips on 2 trades, Had a -15 during NY and went to bed.
When I got up price was within 2 pips of my line.

Other times I'll be struggling to find trade, like on g/u 2 days ago. Then I look at my line after trading about 4 hrs and see that it's 85 pips UP.

Ahhhh, think I should have been shorting?....LOL

Another thing is that it's a randomly drawn line but still it acts as "sup/res".
Price passes through, wicks it and moves on, the will come back and bounce or pass through again, wick it and move on.
(figment in the mind maybe)

ALL YOU NEED IS A COUPLE RANDOMLY PLACED HORIZONTAL LINES TO TRADE!!!! "TRO"

thx for posting.
#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 prochargedmopar » Wed Apr 28, 2010 11:21 pm

Quotable
?It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.?
Gordon Gekko, Wall Street
#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 TheRumpledOne » Fri Apr 30, 2010 1:37 am

prochargedmopar wrote:I wonder if anyone ever took this challenge that was not already a trading master?? (like es/pip, ect)

Mightyone Wrote:

I offer a special challenge to those who dare accept it.

1. Place a horizontal line on the first price you see when you sit down to trade.

2. Make a note of the current time and do not move the line you have placed for 8 hours.

3. You may only trade away from the line.

4. Your line exists in all time frames.

5. You must have a body close in the direction of profit in at least 1 time frame and may not liquidate for less than 0.3333 pips multiplied by the minutes of the above time frame (15m chart * 0.3333 = 4.9 pip min. profit).

6. No indicators whatsoever! The only thing that should be on the chart is that single horizontal line.

7.It is ok to demo the challenge for 5 trading days by placing the line and then coming back to it after 8 hours and post how you think you would have traded away from it.

8. The challenge is to trade this way live for 5 days.

If you should be so brave as to accept then I would like to hear what you have learned from this exercise



I hadn't seen this challenge before.

I sure hope this doesn't turn RATS into Yale students...LOL!!

You can do this and still be a RAT but you only get to trade in one direction. That makes you wait.
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Postby MightyOne » Fri Apr 30, 2010 5:37 am

TheRumpledOne wrote:
prochargedmopar wrote:I wonder if anyone ever took this challenge that was not already a trading master?? (like es/pip, ect)

Mightyone Wrote:

I offer a special challenge to those who dare accept it.

1. Place a horizontal line on the first price you see when you sit down to trade.

2. Make a note of the current time and do not move the line you have placed for 8 hours.

3. You may only trade away from the line.

4. Your line exists in all time frames.

5. You must have a body close in the direction of profit in at least 1 time frame and may not liquidate for less than 0.3333 pips multiplied by the minutes of the above time frame (15m chart * 0.3333 = 4.9 pip min. profit).

6. No indicators whatsoever! The only thing that should be on the chart is that single horizontal line.

7.It is ok to demo the challenge for 5 trading days by placing the line and then coming back to it after 8 hours and post how you think you would have traded away from it.

8. The challenge is to trade this way live for 5 days.

If you should be so brave as to accept then I would like to hear what you have learned from this exercise



I hadn't seen this challenge before.

I sure hope this doesn't turn RATS into Yale students...LOL!!

You can do this and still be a RAT but you only get to trade in one direction. That makes you wait.


The challenge is old and the lesson is this:

Do not trade in two directions, commit to a move.

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Postby TheRumpledOne » Fri Apr 30, 2010 5:56 am

TRO_CHALLENGE_LINE


Image


TRO_CHALLENGE_LINE plots a line at the price when loaded.

UPDATE: The line stays in the same place if you change the chart period.
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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby MightyOne » Fri Apr 30, 2010 6:14 am

TheRumpledOne wrote:TRO_CHALLENGE_LINE


Image


TRO_CHALLENGE_LINE plots a line at the price when loaded.

Note: if you change chart periods, then line will change.


I notice that it also places the line the moment you open MT4 :shock:

Pretty kewl TRO :)

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Postby TheRumpledOne » Fri Apr 30, 2010 6:33 am

MightyOne wrote:
TheRumpledOne wrote:TRO_CHALLENGE_LINE


Image


TRO_CHALLENGE_LINE plots a line at the price when loaded.

Note: if you change chart periods, then line will change.


I notice that it also places the line the moment you open MT4 :shock:

Pretty kewl TRO :)


I wish I had been trading the GBPUSD instead of coding/testing the indicator!!

Price ran up 30+ pips!!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Fri Apr 30, 2010 6:40 am

Image

This looks interesting...

Hmmmmmmm...........
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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