ProchargedMopar's Trading Trilogy

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dojirock
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Postby dojirock » Wed Feb 08, 2012 5:56 am

Pro, Im very visual, if you wouldnt mind posting a chart of some trades once you get a chance...

thanks Pro, for taking the time to explain.
(on my level)

dojirock
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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pp2
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Postby pp2 » Wed Feb 08, 2012 7:08 am

Great recent posts PRO and DOJI. I slowly getting some of it but it's an interesting discussion nevertheless. Thanks guys.

pp2
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Postby pp2 » Wed Feb 08, 2012 10:18 am

The numbers I've been running are nuts!

What do you mean by this PRO?

prochargedmopar wrote:
dojirock wrote:another question, so for now your stop is at 50 and stays at 50 it sound like?
what your doing is injecting all your profits into lot size. So your stop wont change until your account grows? account size*2% right? dojirock


My stop doesn't change at this point, UNLESS SMALLER ;) ...

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prochargedmopar
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Postby prochargedmopar » Wed Feb 08, 2012 10:58 am

dojirock wrote:Heres my 1st shot at understanding this......


Dojirock,

Funny,
You did the same thing as one of my trading buddies.
He just can't let go and wants to risk 5% thinking it will get him to riches quicker.

Please do this same exercise again but use 2% or LESS.
You will then see the POWER behind the concept.
How little of your $500 you must put up to make huge % increases in comparison.

Starting with such a high risk do you see how by the 2nd trade you can't use any bigger lots..........This means your using UNNECESSARY risk which leads to UNNECESSARY stress.

MONEY WILL BE THERE WAITING FOR YOU, IT'S NOT GOING ANYWHERE, THEY ARE MAKING IT HAND OVER FIST, I'VE SEEN THE PRINTING PRESSES. ;)
#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 Feb 08, 2012 11:01 am

pp2 wrote:The numbers I've been running are nuts!

What do you mean by this PRO?

prochargedmopar wrote:
dojirock wrote:another question, so for now your stop is at 50 and stays at 50 it sound like?
what your doing is injecting all your profits into lot size. So your stop wont change until your account grows? account size*2% right? dojirock


My stop doesn't change at this point, UNLESS SMALLER ;) ...


Well, in the LIVE market I've so far been unwilling to use much bigger than 50 pip stop which means I will not be able to travel the great distances that others on this board have been able too. I'll get whipsawed because of this but i'm making psychological progress.

Also it means that I'm willing to cut a trade BEFORE it uses the full 50 pips.....all a part of minimizing the losses. So if it goes deeper against me than I suspected or acts as though direction has changed I'll exit on a re-trace for a smaller loss. that's all.
#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 Feb 08, 2012 11:05 am

dojirock wrote:After figuring this out...I just want to be sure its about a trading session, which can be made up of 1 to any number of trades until I feel the cycle is done? I am able to trade long and or short in the same cycle, its not about direction its about the space (stops) per trade? Earlier I was under the understanding that SPACE was going long, exit ...wait for a retrace...then enter long again...uni directional..now I see I wasnt on the right track

dojirock


Yes, you can use a session, a day, a week, a month OR set % gain ect. before you re-set and "claim" all the $$ in the account is yours.

Trading in ONE direction to a MUCH higher time frame target will allow you to travel great distances.......BUT,
We are not that healthy YET!!!!

My sole purpose at this point is to MAKE MY WINNERS EXPONENTIALLY BIGGER THAN MY LOSERS to help reduce the stress of trading!!!

This naturally leads to better trade selection and less trades of higher quality.

Which equates to LESS RISK OVERALL.

I'll post a chart later.
#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

dchappy
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Postby dchappy » Wed Feb 08, 2012 11:28 am

Hi Pro , I'm having trouble understanding the advantage space gives .

Risk/SL = Lot size... is what I do ..

SL is always above/below the swing ( could be 5 to 25 pips )

As account grows , Risk remains the same and lot size grows .

What am I not seeing ?

Thanks

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prochargedmopar
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Postby prochargedmopar » Wed Feb 08, 2012 12:43 pm

dchappy wrote:Hi Pro , I'm having trouble understanding the advantage space gives .

Risk/SL = Lot size... is what I do ..

SL is always above/below the swing ( could be 5 to 25 pips )

As account grows , Risk remains the same and lot size grows .

What am I not seeing ?

Thanks


You my friend have got Iron clad determination!!
I put you in the same catagory as others here that have balls of steel.

BUT, you have a few difficulties also. Through a disconnect from "unrealized" profits yoir able to exponetially increase your lot size without increasing the overall risk to your "realozed" profits.
Once realized from an internal point of being, you will no longer have difficulties hoding your trades to a predetermined target wbile scaling in and out on the way(ever increasing your returns in the process)

Lets do this. You regularly post 3-6 trades of 5-10 pips profit any given day.
What is your daily target in pips?
What is your daily target in % increase?
MOST importantly, ask yourself how much am I willing to lose today?
Now, with that figure in mind how do we maximize our gains from the start of the day until the end of that same day????
ANSWER: By re-investing your profits into your LOT size or by re-investing your profits by increasing your stop to make more space for longer runs(more pips) without getting whipsawed.........OR BOTH.

WHAT EVER YOU ARE RISKING TO MAKE MONEY THAT DAY, IS WHAT YOU ARE RISKING.
(paraphrased from m.o.)

Chappy, Minimize your losses (% they effect what your willing to risk) and maximie your profits (in comparison to what your willing to risk)

See?
#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 Feb 08, 2012 12:45 pm

plz excuse the typos above as im on my ph and it keeps glitching and its hard to scroll the box back up to correct..........
#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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newscalper
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Postby newscalper » Wed Feb 08, 2012 1:11 pm

It's all good stuff, but obviously assumes you have some definable edge in the market. Money management of any form is not going to fix -ve expactancy.
Speaking personally I have no problem holding for 100 pip plus wins and wins much bigger than 1:1 2:1. My problem is stringing winning trades together.
I'm starting to get the feeling that I don't see the charts in the same way to a lot of people on here though. if I see 'momo' (although it seems like I'm not even seeing that right) on the H4 chart then I plan on holding the trade based on the 4 hour chart. That to me is trading the 4 hour chart. I suspect that a lot of people on here will say I'm trading the weekly chart and be looking for a big bar there first. Or alternatively I see momo on H4, go to M15 to look for an entry but I'll be holding H4, not M15.

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