ProchargedMopar's Trading Trilogy

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prochargedmopar
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Postby prochargedmopar » Sat May 16, 2009 8:42 pm

Dragon33 Wrote:
Hey pro,

You are now where i was before i met TRO. Everything i had learned was putted on my charts. Now you are mixing a lot of different approaches. (i even see something from MP on your charts).
Take a break, stop trading for a week. Go playing with your weights (i do it also) i know you like it.

Clean up your charts (start with nothing) then you add just one thing you think you need and start from there. Forget about everything you now and start from scratch.

This was very important to me: Try to identify when you hit sup res on a H4 chart (you know the blue and red dots) Then you can trade away from that point. If you like TRO's method you use that, if you like ZL's use that if you like something else you know what to do.

I know a lot of people make mistakes because they only watch one tmf. Just pick up direction on a higher tmf and you will gain money.



Blubb,
Not yet, I'll try it soon.

TRO,
I know. I'll be getting off the "line" chart about the time you have your next pirate gathering at this rate.

Razor,
Thanks for the reminder, I am definitely complicating matters.


BTW,
I must be lucky. I've had a few day's where I've lost a hundred pips or so but after losing 100 at $2 a pip it got my attention.
Being I started with "real" money I wasn't gonna keep burrowing into the ground.
This has slowed my progress though because instead of getting to know the markets i've spent most of my time trying to protect my capital and not setting back and looking at what's really going on.
#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 » Mon May 18, 2009 1:26 am

+48\2=24 pips today Asian session
A little over 1.5hrs.
5 trades total. +6.24%
Went full position on the trades that went positive by getting in with a 2nd order.
B/E on all accounts:
-339.06+70.77 = $-268.29
WoooooHoooo, My micro account is now higher than any account I've had to date! Yes.

11130177 EUR/JPY 14 S 127.775 127.724 5.1 7.52 0.00 5/17/2009 20:12 5/17/2009 20:14
11130029 EUR/JPY 14 S 127.809 127.724 8.5 12.54 0.00 5/17/2009 20:06 5/17/2009 20:14
11129860 EUR/JPY 14 S 127.763 127.795 -3.2 -4.72 0.00 5/17/2009 20:00 5/17/2009 20:02
11128240 EUR/JPY 14 S 128.153 128.022 13.1 19.30 0.00 5/17/2009 19:16 5/17/2009 19:23
11128258 EUR/JPY 14 S 128.108 128.022 8.6 12.67 0.00 5/17/2009 19:17 5/17/2009 19:23
11127758 EUR/JPY 14 B 128.236 128.163 -7.3 -10.75 0.00 5/17/2009 18:59 5/17/2009 19:16
11126327 EUR/JPY 14 S 127.931 127.777 15.4 22.71 0.00 5/17/2009 18:21 5/17/2009 18:27
11126393 EUR/JPY 14 S 127.855 127.777 7.8 11.50 0.00 5/17/2009 18:26 5/17/2009 18:27
Total 112 48 70.77
Image
#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 » Mon May 18, 2009 11:25 pm

3 trades today. +39
Added second position on 2 of the profitable trades.
I let a +28 turn into a +6.1 That stinks!
Today's Test FAILED!!!!!!!! because of greed.
-268.29 + 64.77 = -203.52 Until all accounts are B/E
+5.36% increase

11175763 EUR/JPY 16 B 130.630 130.728 9.8 16.27 0.00 5/18/2009 18:38 5/18/2009 18:56
11175233 EUR/JPY 16 B 130.511 130.645 13.4 22.25 0.00 5/18/2009 18:16 5/18/2009 18:26
11175515 EUR/JPY 16 B 130.548 130.645 9.7 16.11 0.00 5/18/2009 18:23 5/18/2009 18:26
11173922 EUR/JPY 16 S 130.579 130.511 6.8 11.30 0.00 5/18/2009 17:06 5/18/2009 18:16
11174235 EUR/JPY 16 S 130.504 130.511 -0.7 -1.16 0.00 5/18/2009 17:22 5/18/2009 18:16

Wish someone would tell me what I should BE LOOKING AT AND SEE so that I can start kicking some Butt!!!!!
Last edited by prochargedmopar on Mon May 18, 2009 11:33 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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Postby prochargedmopar » Mon May 18, 2009 11:27 pm

MIGHTYONE WROTE:

There is nothing wrong with scalping, but if you do not wish to be under the gun of the need for a high win ratio then you should commit to a direction 20% of the time.

To answer your question:

Scalpers are affected by everyone who uses limit orders.

If speed increases and everyone is paying up to enter then you have nothing to worry about.

If you use a limit order where your stop would be then you are de facto a position trader.

Scalping speed is roughly when price: makes a new high or low, retraces 7 pips, but less than 16 pips and then makes a new high.

You would then aim to enter 7 pips from the high with a 10 pip stop loss order.
You would then exit when you see 5+ pips.

When the market is making larger retracements than 16 pips that is when you want to start trading reversals (which may turn into trends).

Market speed is based on the size of the correction that returns to make new highs or lows.

A LARGER CORRECTION THAT DOES NOT RETURN TO NEW HIGHS OR LOWS IS NOT A CORRECTION.

This is the single most important concept to understand Shocked
a concept that is a large piece of my crystal ball.
#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 » Tue May 19, 2009 8:11 pm

"Wish someone would tell me what I should BE LOOKING AT AND SEE so that I can start kicking some Butt!!!!!"

Read the other thread, Pro.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby prochargedmopar » Wed May 20, 2009 12:54 am

Oops!
-203.52 - 207.00 = -410.52
Not good.
AM News, Emotions, NOT following rules.......... Lost 3 days of trading in one. How hard is it to stop out at -5 or -10?
And only take 2 trades an hr.
I actually let my first trade of the day go for +63 pips and took it then I thought I could do no wrong.
Ouch.
Last edited by prochargedmopar on Wed May 20, 2009 11:34 am, 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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Postby Fxtraveller » Wed May 20, 2009 10:29 am

aaah, yes. The feeling when you just dont want to let go of the money that you already earned.
You lost 3 days of trading?
I lost 3 months of carry trading 0.01/0.02 lots in 1 (sleepless) night, the blood rushed to my head when I saw momentum on EURUSD and decided to ride the wave with a 1 full lot (100k unit).
First Scalp= 60 euros
Second Scalp= 40 euros (oh, im so good)
Third Scalp (yeah, just one more and that'll do) = -480. ouch! back to reality.

Quote from BuyZone:
If you dont know who you are, the market is an expensive place to find out

Happy Trading.

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Postby prochargedmopar » Wed May 20, 2009 11:41 am

LOL, yes, three days in one.
The market is the ONLY place to find out. Why do you think I started with real money.
I will find out who I am and then adapt accordingly.
I'm getting closer to break even, even if I do take a step or two back every now and then.
Each is a huge opportunity to learn.
Thanks for your post,
good to know I'm not the only one.
hehehe

I've got some new rules in the works to prevent this very thing.
LIMITS!!!!
#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 MightyOne » Wed May 20, 2009 6:29 pm

Your sin is that you think about money more than you think about trading.

Here is how we are going to fix you:

5 pips = 1% (since you are so inclined)

A 20 pip SL is 4% risk
A 15 pip SL is 3% risk

$1,000 is your default balance

1% is $10

10/5 is your position size which is 2 mini by the way :wink:

For every mini in your account you are going to have $200 in your account by Friday morning.

For this level of trading that means that your account balance is at least $400 on Friday morning.

Withdraw everything above $400 or bring your account back up to $400 every Friday.

Now you are going to practice trading for a living:

Divide every expense by 100 and pay the bills into a coin jar labeled "DONATION" or "KIDS COLLEGE FUND."

Mortgage: $27
GAS: $2
ELECTRIC: $1.40
FUEL: $3

Wife wants to go out for breakfast: $2
Kids need clothes: $40

Whatever it is divide it by 100 and pay it.

If you can't support 1% of your life style trading with $400 then you cannot support 100% of your life style trading with $40,000.

You cannot use the gains in your account to pay the bills; you have to withdraw, receive, and convert to cash on hand to put money in the coin jar.

If you can pay every expense for 6 months then you will be ready to trade for a living.

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Postby TheRumpledOne » Wed May 20, 2009 10:11 pm

$1,000 is your default balance

For every mini in your account you are going to have $200 in your account by Friday morning.

For this level of trading that means that your account balance is at least $400 on Friday morning.

=============================================

Do you REALLY mean the NET PROFIT is $400 and the account balance is $1,400?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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