ProchargedMopar's Trading Trilogy

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prochargedmopar
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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Mon Jun 15, 2015 6:07 am

Why Do You Trade?
By Rob Booker

On Friday, my friend Frederick attended a class with a famous trader. The famous trader asked each person in the room to answer the following question: “Why do you trade?” Each person answered, talking about a love of the markets or “putting the pieces of a financial puzzle together.” Frederick answered, “I trade to make money.” The entire room fell silent. What a great reminder for us all: Don’t forget why we trade.

Even if you say that you trade “for your family,” you are saying that you are trading so that you can make enough money to support them. Unless you are trading just so that you can show them that you can press some buttons after looking at your screen for 8 hours a day. In which case, you need to get some help. When you trade for the money, here is what happens:

You get focused.

Your efforts are magnified. Do you know what happens when sunlight passes through a magnifying glass? Of course you do. The sun’s rays become concentrated - and hotter than heck. You can burn almost anything with that concentrated light. The same is true when you focus on making money as a trader. You stop letting bad trades go forever. You start banking the profits you have already, rather than letting trades run (because you want profit that you don’t have).
So - I encourage us all to learn from Frederick - remember that we’re doing this for the money.
#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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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Mon Jun 15, 2015 2:03 pm

I will be forced to start using entry stop orders.

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#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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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Mon Jun 15, 2015 3:01 pm

Goal: build lot size before a move.

Added 850 uniys here,
Will add another 700 @/near the lows.

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#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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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Mon Jun 15, 2015 3:11 pm

SellersFizzling.png
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#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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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Mon Jun 15, 2015 3:17 pm

PullHeadOut!!.png
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#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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Re: ProchargedMopar's Trading Trilogy

Postby MightyOne » Mon Jun 15, 2015 4:04 pm

prochargedmopar wrote:
PullHeadOut!!.png


You still think in terms of entries when you should be pondering stops.

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prochargedmopar
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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Mon Jun 15, 2015 4:45 pm

Sometimes I just have to BUY.

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#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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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Mon Jun 15, 2015 4:46 pm

MightyOne wrote:
prochargedmopar wrote:
PullHeadOut!!.png


You still think in terms of entries when you should be pondering stops.


So I must stay fully loaded @ all times until I get a spike in my favor?
THEN reduce space until I get what?
Another ENTRY?
#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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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Mon Jun 15, 2015 4:49 pm

MightyOne wrote:
prochargedmopar wrote:
Screenshot_2015-06-15-11-47-50.png
Screenshot_2015-06-15-11-47-50.png (116.25 KiB) Viewed 110 times


You still think in terms of entries when you should be pondering stops.


I would consider these a couple of the worst entries on the planet........
I must have been considering something else to dive in there.
I catch your drift though as I can semi FEEL what you are saying.

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#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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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Mon Jun 15, 2015 5:01 pm

If I risk 2% 100 pips from an extreme but never liquidate and find a new ENTRY on a correction I cannot increase my lot size unless I move my stop closer to price.
I DONT WANT TO MOVE MY STOP.

If I go MAX lot size 3 pips from the lowest low......Ive just had to pick a PERFECT ENTRY.
I dont want to use LARGE LOTS AND SMALL STOPS. (scalping).
#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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