Counter trend to D1 "simplicty" h4 ENTRY chart with Mo n Go
With trend M1/W1/H4/H1
Cant really claim to be with H4 trend as supply is still in control. Look left.
ProchargedMopar's Trading Trilogy
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- prochargedmopar
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Re: ProchargedMopar's Trading Trilogy
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
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Re: ProchargedMopar's Trading Trilogy
A long term chart is not the same as a short term chart...
price can move hundreds of pips past resistance without breaking it.
You can trade a 5 minute chart based on numbers, but you can only
trade a monthly chart with forethought.
You might consider the whole chart when trading a 10 minute chart,
but to consider the whole weekly chart is foolish.
Here I circled the PA that I would consider...
...if it were a 240 minute then I might consider more data.
Lastly:
I have traded the 12, 6, 3, 2, & 1 month chart so I can say with confidence
that there is no reason to ever look at anything larger than the monthly chart;
the monthly chart itself is only useful twice a year.
Somewhere between 2 days and 2 weeks is an optimal long term chart...
all that I am saying is that I love long term charts and I won't go outside of this
range.
price can move hundreds of pips past resistance without breaking it.
You can trade a 5 minute chart based on numbers, but you can only
trade a monthly chart with forethought.
You might consider the whole chart when trading a 10 minute chart,
but to consider the whole weekly chart is foolish.
Here I circled the PA that I would consider...
...if it were a 240 minute then I might consider more data.
Lastly:
I have traded the 12, 6, 3, 2, & 1 month chart so I can say with confidence
that there is no reason to ever look at anything larger than the monthly chart;
the monthly chart itself is only useful twice a year.
Somewhere between 2 days and 2 weeks is an optimal long term chart...
all that I am saying is that I love long term charts and I won't go outside of this
range.
- prochargedmopar
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Re: ProchargedMopar's Trading Trilogy
MightyOne wrote:A long term chart is not the same as a short term chart...
there is no reason to ever look at anything larger than the monthly chart;
Somewhere between 2 days and 2 weeks is an optimal long term chart...
10/2 = 5
That settles it.
1 week it is.
I Look at it on Sun. and Wed.
I trade the daily positions.
I enter on H4 or H1
D1/h4/h1
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- prochargedmopar
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Re: ProchargedMopar's Trading Trilogy
According to rules I may have to dump this trade.
But it just "feels" like it wants to go up. Uuuugh.
I could move my position up to just below the D2+ extreme.....but that doesn't seem like the extreme to me.
Below the first swing low to the left seems more like the "extreme" on this chart.
But it just "feels" like it wants to go up. Uuuugh.
I could move my position up to just below the D2+ extreme.....but that doesn't seem like the extreme to me.
Below the first swing low to the left seems more like the "extreme" on this chart.
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- prochargedmopar
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Re: ProchargedMopar's Trading Trilogy
The D2+ extreme is about 75 pips away.
$402 acct balance
Risking 3%
To normalize risk........
Lot size would have to move from 300 units to 1608 units or about 0.16 cents a pip instead of 3 cents.
Same 3% risk as above but using the daily swing low to the left its about 300 pips away.
Lot size would have to move up to about 402 units OR 4 cents a pip. There abouts.
$402 acct balance
Risking 3%
To normalize risk........
Lot size would have to move from 300 units to 1608 units or about 0.16 cents a pip instead of 3 cents.
Same 3% risk as above but using the daily swing low to the left its about 300 pips away.
Lot size would have to move up to about 402 units OR 4 cents a pip. There abouts.
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
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Re: ProchargedMopar's Trading Trilogy
Either you went long or are planning to go long or are planning to gamble on a short hoping that price conforms.
Any S/D levels are irrelevant, focus on what you need RIGHT NOW & then take it one day at a time.
I need to enter from the 2+ day extreme or from the BOx.
If I take a gamble against the direction of profit then I need the large
chart candle to conform and give me a sign that price is in fact reversing.
Simple as that.
Any S/D levels are irrelevant, focus on what you need RIGHT NOW & then take it one day at a time.
I need to enter from the 2+ day extreme or from the BOx.
If I take a gamble against the direction of profit then I need the large
chart candle to conform and give me a sign that price is in fact reversing.
Simple as that.
Last edited by MightyOne on Mon Dec 22, 2014 6:07 pm, edited 1 time in total.
- prochargedmopar
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Re: ProchargedMopar's Trading Trilogy
Ok PRO,
pay attention. don't get side tract.
LOL
pay attention. don't get side tract.
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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- prochargedmopar
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Re: ProchargedMopar's Trading Trilogy
MightyOne wrote:Either you went long or are planning to go long or are planning to gamble on a short hoping that price conforms.
Any S/D levels are irrelevant, focus on what you need RIGHT NOW & then take it one day at a time.
I need to enter from the 2+ day extreme or from the BOx.
If I take a gamble against the direction of profit then I need the large
chart candle to conform and give me a sign that price is in fact reversing.
Simple as that.
I'm long, I'm staying long.
I like the looks of both the monthly AND daily chart. The weekly looks like crap for longs.
2 of 3, it's a gamble.
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- prochargedmopar
- rank: 10000+ posts
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Re: ProchargedMopar's Trading Trilogy
My lines in the sand.
I've had enough,
Imma do this s**t!!
I'm doin this s**t right now.
And do it right.
I've had enough,
Imma do this s**t!!
I'm doin this s**t right now.
And do it right.
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
Re: ProchargedMopar's Trading Trilogy
These are all the levels that interest me
of course none of them matter until we actually get there and see how price reacts
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