ProchargedMopar's Trading Trilogy

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MightyOne
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Postby MightyOne » Thu Jan 05, 2012 5:11 am

Don't get too excited, I scalp with 10 macro pips of space :lol:

pp2 wrote:
MightyOne wrote:My new plan for this year includes scalping:

http://i43.tinypic.com/2rossn8.gif

I never thought that I would say that...


YES! FINALLY :shock: ;) :lol:

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prochargedmopar
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Postby prochargedmopar » Fri Jan 06, 2012 3:15 am

MightyOne wrote:Don't get too excited, I scalp with 10 macro pips of space :lol:

pp2 wrote:
MightyOne wrote:My new plan for this year includes scalping:

http://i43.tinypic.com/2rossn8.gif

I never thought that I would say that...


YES! FINALLY :shock: ;) :lol:


:shock: :oops: 8)
#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 » Sun Jan 08, 2012 4:55 am

I printed this and put it in my wallet: It seems to be "basic" knowledge after being here for so long. Good to Review.

"Teach me how to trade"

Body in the direction of profit, wick in the direction of loss.

"Tell me how to trade the Zero Line"

If you can loss then you can see profit.

"From where is the Zero Line drawn"

Anywhere between the midpoint to the open of a strong candle or a series of candles (2-3) that makes a strong run; the zero line isn't drawn, it is seen.

"Where do I take profit"

If you recieve an abnormally large profit in a short period of time then take it. In the absence of abnormally large profit you should focus on increasing your lot size.

"Tell me where I should enter"

Where would you like to enter...

"Tell me how to add lots to my position"

The same way that you determined your lot size and space for your initial position.

M.O.
#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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PebbleTrader
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Postby PebbleTrader » Sun Jan 08, 2012 6:52 am

Looks like good advice :)



I want you to be totally honest and really think about this...What are 3 main reasons why trading is "burning a hole in your pocket" ?
Life is just a journey

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Postby PebbleTrader » Sun Jan 08, 2012 7:03 am

I think that you mostly know what you should be doing but I suspect that there is probably only just a few things that if you could zero in on it would be the difference that makes the difference in terms of the few mistakes that contribute most to dollar losses.
Life is just a journey

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Postby prochargedmopar » Tue Jan 10, 2012 3:10 am

PebbleTrader wrote:Looks like good advice :)



I want you to be totally honest and really think about this...What are 3 main reasons why trading is "burning a hole in your pocket" ?


The past year I haven't been losing $$ but I still have in a way.
I've been losing time. Time is money, money is time. Time with Wife, Kids, family, ect. because of having to continue working 10hrs a day and spending large amounts of time studying the markets. (instead of myself)

1. Fear of losing (not being right/failing)
2. Greed (wanting it now)
3. Psychological damage from over leverage before having a "set in stone" trading plan and confidence I will act in my own best interest no matter what the situation.
#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 » Sat Jan 21, 2012 4:31 am

ONE class with Insanity Industries Trading School (the homework), Opened my eyes to something M.O. posted a couple years ago about re-investing profits, and making space. Adding profit to either stop size OR lot position size.

I've found IT.

Bredin quote: "You've got to TRICK your brain".
#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 PebbleTrader » Sat Jan 21, 2012 8:36 am

2012 is the year for Prochargedmopar, the path to consistent profits is just ahead :)
Life is just a journey

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prochargedmopar
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Postby prochargedmopar » Sat Jan 28, 2012 10:33 am

A much read, underlined, and highlighted yet long lost quote by Mightyone. 3/2009
I present to you THE Trading Bible!

[quote="MightyOne"]Prices rise and fall by HUNDREDS of pips every day and some how most
every one cannot figure out how to make even 1% per day.

I just dont get it, I really don't :?

So I am going to lay out the frame work for profiting in a such a way
that can be accomplished by anyone:

1. Which way is price likely to move in the long term (more on this later).

2. How small can I make my stops (you would be surprised)

3. Risking 1% per trade/chart enter with the momentum of the small time frame.

4. Exit all when you feel that price is likely to reverse and add that profit to your SL amount less commission.

EXAMPLE: 10 pips = 1%: You make 15 pips on a short and exit as the market starts to reverse. The next trade you risk your initial 10 + the 15 gained from shorting less 1 pip for commission to re enter.

5. Price starts heading in the long term direction and again you get an entry to short on your small TF. You short with your 25 pip stop and the market starts stalling at +7 so you exit (you are at +32).

Price retraces 45 pips and you believe price is again heading south so you short again on you small TF with a 31 pip stop.

7. YOU CAN ONLY EXIT WHILE IN PROFIT OR GET STOPPED OUT!

Price retraces 27 pips and then turns around and plummets 74 pips.

What time frame are your trading? What does that chart look like?
How many bars has it been since you first started shorting?

Trade NO MORE THAN 2 bars of any time frame!

8. You either reach your goal and make 7, 15, 26, 52, or 80%+ on your account or you lose 1%.

By reinvesting profit, having an unwillingness to let price trade to your stop while you are were profit at some point, and by sticking to a goal knowing that PRICE DOES MOVE HUNDREDS OF PIPS EVERY DAY (just about) then you will reach the goals you set out to attain and your losses
will cause you great laughter!!
Think and grow rich PRO :wink:
#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 » Sat Jan 28, 2012 6:33 pm

Sheep's to slaughter: Be the "Judas Goat"

http://youtu.be/xhWHbMFMDPI

"Wick's show NOT the way". M.O.

http://www.youtube.com/watch?v=ZC-tJ_Fh ... e=youtu.be

Maybe a Daily candle is too small for YOU, How about jumping on a weekly "Wick" and taking the body for a ride......Hint: Tuesday!

http://www.youtube.com/watch?v=K_UdZaGr ... e=youtu.be
Last edited by prochargedmopar on Sun Jan 29, 2012 9:00 pm, edited 1 time in total.
#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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