ProchargedMopar's Trading Trilogy

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prochargedmopar
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Postby prochargedmopar » Sat Feb 11, 2012 1:42 am

dojirock wrote:Thanks Procharged,

I get it, use them as base lines , then add the zerolines, and whola! what more do you need...

dojirock


Sure.
What more? Oh, some squigglies.....LOL

BTW,
I was born in Lansing and lived on Bois Blanc Island (between upper and L.P.) until I was 7.
I have a large portion of my family still in MI.
#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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dojirock
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Postby dojirock » Sat Feb 11, 2012 4:57 am

Thats cool, I live on Lake Michigan...ever get up this way, drop me a note..

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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Postby newscalper » Sat Feb 11, 2012 4:14 pm

THANK YOU MO

That last graphic you put up for me has nailed something in my skull I think. I'd been thinking about 1 aspect wrong and that had but the whole thing down the toilet. I've been thinking about space all night - it's not so much my understanding of space that was wrong, it was my understanding on how to implement it that was not right. I'll show you:

Right, here we are, weekly chart. forget about past history lines and support and resistance. What have we got, a strong weekly close up with a higher high and higher low. It's a 'good' weekly rat.

Image

Now I know this isn't going to be the best example because of the trouble area, so price may not trend too far.

Anyway, down on the H4 chart, the following week, I want to get in somewhere near the weekly lows, whether I'd have taken this is another matter because price didn't pull back much.

Image

But that's it isn't it...position is there as on the graphic, if I'm trading this. NOT as sh1t for brains here has been doing and placing position as if trading on the 15 minute chart!

What got me thinking about this last night in bed was if I was trading stocks unleveraged with no stop, where is my position (if I haven't drawn a line), it's at 0...etc etc etc


The only other thing I could do with a hand with is deciding when to get out if the trade is going south - yes I know the LOS is there, it's the criteria of exactly what constitues price closing over it, forget CCs for a moment is a single 4HR bar sufficient to say 'get out' or is a daily bar more realistic?

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Postby MightyOne » Sat Feb 11, 2012 6:57 pm

IF/THEN is a horizontal line at/around which you have decided that you MUST take action to protect your position.

By "at" I mean that you could very well place a partial stop on the IF/THEN to enlarge space & that may be the only adjustment that you need.

IF/THEN is just a reminder that you planned to do something about an eroding space.

It is not about the IF/THEN it is about protecting your position; what your position needs depends on how well it is placed.

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Postby MightyOne » Sat Feb 11, 2012 7:00 pm

I also talk about position and space here.

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Postby newscalper » Sat Feb 11, 2012 10:43 pm

Thank you

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Postby PebbleTrader » Mon Feb 13, 2012 5:20 am

PebbleTrader wrote:2012 is the year for Prochargedmopar, the path to consistent profits is just ahead :)


I saw it coming!

Prochargedmopar was blind but now he can see!

:D
Life is just a journey

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TygerKrane
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Postby TygerKrane » Sun Feb 19, 2012 2:41 am

bredin wrote:Newscalper,

If you define 'losing' as completely destroying space, so that money on the Leverage side of the ledger has to be moved into the Risk side, then I have not lost in 2 years.

Ive had some good runs of losing positions in that time, and after this Im not sure that its possible to completely destroy space, without deliberately doing so.

G.

As I think and double think, this sounds like, the more money you have, the harder it is to lose.

Take for example:
I wish to risk 5% a week

$1000 Account, 5% = $50
I start my entries at 5:1lev i.e. 5% gain/loss per 100pips
Starting entry = 5lots, b/c, .50/pip * 100pips = $50
Therefore,

(5/1) * 100pips = [highlight=white]500pips, is what my space can potentially be expanded out to[/highlight] --to survive my errors in judgement--

However,

$2000 Account, 5% = $100
I start my entries at 5:1lev i.e. 5% gain/loss per 100pips
Starting entry = 10lots, b/c, 1.00/pip * 100pips = $100
Therefore,

(10/1) * 100pips = [highlight=white]1000pips, is what my space can potentially be expanded out to[/highlight] --to survive my errors in judgement--


Conclusion:
Even though in both scenarios, my risk is 5% spread out over 100pips, in the case with the bigger account, I can have much more wiggle room for protection of my risk capital, while still only risking 5% of my account total.

:-k :-k :-k
8) 8) 8)

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Postby dojirock » Thu Feb 23, 2012 11:15 pm

Pro,

Can you elaborate on what you mean here....?

Trade NO MORE THAN 2 bars of any time frame!

-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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prochargedmopar
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Postby prochargedmopar » Fri Feb 24, 2012 2:12 am

dojirock wrote:Pro,

Can you elaborate on what you mean here....?

Trade NO MORE THAN 2 bars of any time frame!

-dojirock


Doji,
You'll have to ask MO, that is his saying.

But if you think about it, You start by entering on a m5, for price to go in one direction for 15m, it has to be an m15 candle, If your in the trade for an hr. you are NOT trading 4/m15 candles, look at an hr chart, it's ONE bar.

Sounds like splitting hairs, but,

"how are you going to get to where your going if you don't know where your trying to get?" paraphrased from M.O.

Well, the larger TF show's the way (or is it bodies? LOL)
#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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