ProchargedMopar's Trading Trilogy

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razorboy
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Postby razorboy » Wed May 27, 2009 1:25 pm

what is that, a tazmanian devil with a hankerin' for meth?

pro........look at the market - it ranges up and down.........you know that. I know that........i suspect that like myself, you tend to get a bit wound up when you miss a move and then try to get it back.........a few winning days will do that to you i think.

I know, sometimes you have a limit order that never gets hit or when it does get hit, it should have been a market order going the other way. Or you use a market order that just gets stopped out.

Ya, I have missed a few huge moves these past few days - but now I am not trying to get them back all of the time. Before I took my son to school I was tempted to short the eurojpn as I just knew it was going down to zero out the last big bull bar - and that is when I caught my self..........i cant know...........and I didnt really have a set up.......

But the upside is that I have stopped wasting all the blinds

now lets see where they eurojpy goes........


MightyOne wrote:If I were you I would stick with scalping because it best fits your personality.

Instead of blasting the market with positions you would probably do
better to focus on reducing risk once in a trade.

An example of how you might do this is:

Start with Dynamic Fibs:

Enter a position that is divisible by 5 at the trigger.

Immediately exit 1/5 at a time until you have nothing left.

Find the nearest psych level and place and order there:

Once filled immediately exit 1/5 at a time until you have nothing left.

---If price stalls at the entry you loss is minimal.
---If price reverses you are already in the process of cutting your losses short.
---If price skyrockets upon entry you will liquidate at a large profit.
---If price moves up then you will exit at a small profit.

Try it for a day or two with 5 micro lots...you might like it.

prochargedmopar wrote:Here is my faulty trading.
I was long for a breakout and lost 11.
I Immediately went short 2 orders.
After being in profit I added a third.
I was up 26-8ish at the 10 line.
That candle shot up and closed green and I closed all 3 positions for -7.xx each. it only went up to the 30 line and turned back short. Right when it shot up I bought 3 positions. You can see what happened after that as it hit my 15 pip stop on 2 and I closed the other at -13.

No more playing for me after that.
Here are the trades and a pic.
I see that it's rocketing up toward the line now.
Am I a scalper or a long term trader. Maybe I should decide.

11439715 EUR/JPY 20 B 133.295 133.158 -13.7 -28.79 0.00 5/26/2009 20:13 5/26/2009 20:25
11439714 EUR/JPY 20 B 133.307 133.155 -15.2 -31.95 0.00 5/26/2009 20:13 5/26/2009 20:25
11439712 EUR/JPY 20 B 133.305 133.153 -15.2 -31.95 0.00 5/26/2009 20:13 5/26/2009 20:25
11439431 EUR/JPY 20 S 133.286 133.310 -2.4 -5.04 0.00 5/26/2009 19:58 5/26/2009 20:13
11439443 EUR/JPY 20 S 133.237 133.310 -7.3 -15.33 0.00 5/26/2009 19:58 5/26/2009 20:13
11439201 EUR/JPY 20 S 133.288 133.366 -7.8 -16.37 0.00 5/26/2009 19:51 5/26/2009 19:52
11439199 EUR/JPY 20 S 133.290 133.366 -7.6 -15.95 0.00 5/26/2009 19:51 5/26/2009 19:52
11438835 EUR/JPY 20 B 133.400 133.288 -11.2 -23.52 0.00 5/26/2009 19:31 5/26/2009 19:51
11438378 EUR/JPY 20 B 133.262 133.293 3.1 6.51 0.00 5/26/2009 19:16 5/26/2009 19:23
11438249 EUR/JPY 20 B 133.250 133.293 4.3 9.03 0.00 5/26/2009 19:08 5/26/2009 19:23
11438155 EUR/JPY 20 B 133.228 133.184 -4.4 -9.25 0.00 5/26/2009 19:06 5/26/2009 19:07
11437787 EUR/JPY 20 B 133.021 133.043 2.2 4.63 0.00 5/26/2009 18:45 5/26/2009 18:55
11437673 EUR/JPY 20 B 132.960 133.043 8.3 17.46 0.00 5/26/2009 18:41 5/26/2009 18:55


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Postby MightyOne » Wed May 27, 2009 1:38 pm

"what is that, a tazmanian devil with a hankerin' for meth?" -Razorboy

That pretty much describes scalpers now doesn't it :lol:

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Postby MightyOne » Wed May 27, 2009 1:53 pm

TRADE WHAT YOU SEE:

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Postby prochargedmopar » Wed May 27, 2009 5:44 pm

MightyOne:

Ive tried before to go all in and scale out. I would get out in increments and not be able to take as many pips because it would back up most times after I started to exit. Would have had more just clicking close.
BUT, when my stop was hit or it went against me it was the full meal deal.
Hard to build an account like that.
I'm starting to be able to pick better entries now and actually having some go for few pips so it might just work.
Using partials to get in and build a position as you described seems much better. I may just start pulling some of those out before pullbacks and then re-add to the position when possible.

Kinda the same thing but going all in was to much risk when things went bad.
And remember:
2 mini's is as small as I can go.
That's currently 1/2 position.
Till DEATH.
I'll start increasing them again once the account gets back above 1300.

Talk about some YUM!!!!
First bar in this pic is the one after the last bar in yours.
But I'm not even suppose to be up. It's the middle of the night.
Back to bed......BoooooHooooo
Image
Last edited by prochargedmopar on Wed May 27, 2009 6:11 pm, edited 2 times 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 » Wed May 27, 2009 5:52 pm

BTW,
Did we ever get a MO DynTrend multimeter?
#1BODY in direction of profit #2INCREASE lot size Obsessively
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Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby prochargedmopar » Wed May 27, 2009 6:18 pm

If this holds above the consolidation are we looking for the 40 pip box range width as a target?
Wait for the next candle to pull back to the 50 and go long with a tight stop?
Add when she breaks.
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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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Postby MightyOne » Wed May 27, 2009 6:20 pm

Hopefully no one tried shorting the psych at new lows...

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Postby MightyOne » Wed May 27, 2009 6:23 pm

Not that I am aware of...

prochargedmopar wrote:BTW,
Did we ever get a MO DynTrend multimeter?

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Postby prochargedmopar » Wed May 27, 2009 6:24 pm

Yuppers,
There she goes.
Now trading the psych line on first touch would have been dangerous. It pulled back all the way to the 33 which would have been a doozy to sit through. The second run or waiting for the next candle pullback would have kept the draw down to a minimum.
These are the things I must WAIT for while actually trading.
If I get in on the first jump I'm always the one getting ZEROED out. LOL
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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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Postby prochargedmopar » Wed May 27, 2009 6:31 pm

I'm trading 10 lines as triggers.
They are a mix of Buyzone(4 pips out) and Casino(10 pips out).
So, 4-14 from H1 open.

Ok.
What's the << ; - ) ????
Settings for that line?
Don't tell me, Squiggly's would get me canned. hehehe
#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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