ProchargedMopar's Trading Trilogy

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MightyOne
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Postby MightyOne » Sat May 23, 2009 1:34 am

It is MBT data feed...

You almost have to find the chart with the least amount of bad prices and create a custom time frame.


razorboy wrote:is this some sort of custom time frame - am trying to recreated this diagram myself and the candles dont look the same

and I have two feeds :)


MightyOne wrote:
Closed bodies are truth and the truth shall set you free :shock:


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razorboy
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Postby razorboy » Sat May 23, 2009 1:44 am

the difference between our charts is amazing - I use two feeds and trade on fxcm - the lag is insane sometimes - I wonder who is getting screwed................(wait, there is a saying about that)
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

http://thejoshkerbelproject.com/

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Postby MightyOne » Sat May 23, 2009 1:44 am

It is not a correction unless price returns to the high and vise versa.


razorboy wrote:I know I am going to get yelled at for this, but I will ask it anyways. I recall MO citing that your stop loss only needs to be as large as the most recent correction, but what happens when that correction turns out not to be a correction? or is this all done retropectively for future trades?


As far as price making a new high, relative to what?

MightyOne wrote: You deserve a cookie!

blubbb wrote:The way I understand it: The left box marks the size of the correction. MO then painted the next box from the newly formed low. After he realized it is no correction, but a change in trend (= price makes a new high), he could continue using the same sized box on the next correction, which followed shortly after that (box painted from the new high). As we can see, price was only ranging inside the box. This correction's range was the same as the last correction's range.

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MightyOne
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Postby MightyOne » Sat May 23, 2009 1:48 am

You're reading poker books I see ;)

razorboy wrote:the difference between our charts is amazing - I use two feeds and trade on fxcm - the lag is insane sometimes - I wonder who is getting screwed................(wait, there is a saying about that)

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MightyOne
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Postby MightyOne » Sat May 23, 2009 7:41 pm

Losing money does not mean anything until you are forced to size down.

Breaking even is not a goal!

What you have in your account, after being crippled, is 100% of what you have in your account.

If you have $300 in your account it does not matter that you lost $900 because you have $300 in your account and that is what you need to focus on (and turn into a million :wink:).

I put together a goal sheet for you & I suggest that you start at the top and work your way down.

Best Wishes - MO

prochargedmopar wrote:Interesting info shown here:
-215ish pips
-$430ish

B/E total -$902.ish

In life, I thought I was a disciplined individual.
"Others/Society" must have been my cover-up.

I'm not the Man I thought I was.

Be, Do, Have?

I've gotten what I be.
I'm going to take a hiatus from posting for a while.
Gotta look closer at who/what I AM.


The markets WILL be my playground.
And my losses WILL cause me great laughter!!!
Thanks. M.O.
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Postby MightyOne » Sat May 23, 2009 7:52 pm

It should go without saying, but I will say it again:

If you are at $9000 on the goal sheet you are trading 15 mini.
If you fall backwards to $6000 you DO NOT TRADE 10 mini.

You trade 15 mini lots till death do you part!

The only way up is up :roll:

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Postby razorboy » Sun May 24, 2009 12:24 am

looks like a round about way to a martingale strategy if I do say............but the truth is, 40 pips is one good trade

You are obviously not doing silly things like playing a daily pin bar with a 100pip+ stop loss=1% of your account nonsense........

this sounds like a project.......I have put something together similar for myself, I just find that I keep loosing the small blind (and some times big blinds) too frequently and then losing my nerve and not pressing my winners. I pulled 70 pips out of the EurJPY on friday when I could have and should have doubled that - the earlier losses rattled me

MightyOne wrote:It should go without saying, but I will say it again:

If you are at $9000 on the goal sheet you are trading 15 mini.
If you fall backwards to $6000 you DO NOT TRADE 10 mini.

You trade 15 mini lots till death do you part!

The only way up is up :roll:
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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prochargedmopar
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Postby prochargedmopar » Sun May 24, 2009 3:25 am

I'm at $800 now.
I have increased the position size daily as the account had grown.
I'm currently using 20micros as 1/2 position.
Till death do us Benjamen's part.
#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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MightyOne
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Postby MightyOne » Sun May 24, 2009 4:56 am

5 micro will only require $50-$100 in margin of a $300 account.
I would consider losing $190 to be crippling so as long as I do not
lose 380 pips I will be just dandy.

If my SL is 19 pips then I can sustain 20 losing trades.
If my SL is 15 pips then I can sustain 25 losing trades.

It is definitely aggressive, but I would not call it martingale.


razorboy wrote:looks like a round about way to a martingale strategy if I do say............but the truth is, 40 pips is one good trade

You are obviously not doing silly things like playing a daily pin bar with a 100pip+ stop loss=1% of your account nonsense........

this sounds like a project.......I have put something together similar for myself, I just find that I keep loosing the small blind (and some times big blinds) too frequently and then losing my nerve and not pressing my winners. I pulled 70 pips out of the EurJPY on friday when I could have and should have doubled that - the earlier losses rattled me

MightyOne wrote:It should go without saying, but I will say it again:

If you are at $9000 on the goal sheet you are trading 15 mini.
If you fall backwards to $6000 you DO NOT TRADE 10 mini.

You trade 15 mini lots till death do you part!

The only way up is up :roll:

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MightyOne
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Postby MightyOne » Sun May 24, 2009 5:17 am

prochargedmopar wrote:I'm at $800 now.
I have increased the position size daily as the account had grown.
I'm currently using 20micros as 1/2 position.
Till death do us Benjamen's part.



Ask you self what the largest advance was (that is relevant to you) that returned to the lows. If price advances larger than the largest advance that returned to the low then chances are price will not return to the low.

After making a larger correction price likes to test an area that falls around 50% of the correction distance above the prev. high.

When price connects to form a larger correction then price should hold above the prev. high and then hold at the first test area above the prev. high.

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