ProchargedMopar's Trading Trilogy

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TheRumpledOne
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Postby TheRumpledOne » Sat May 30, 2009 6:58 pm

Image

What if we use the "infamous repainting" 3 Level ZZ Semafor indicator...

Does that help?
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Postby razorboy » Sun May 31, 2009 1:31 am

thoughts.....

If you are just fading the daily extreme - looking for the reversal, without regard to say, trading range or SR, doesnt this leave you in the situation of always fading the extremes, which having tried this for a brief period of time, means you might as just play without a stop loss as every time you get knocked out, you need to re enter.

I guess technically price should always come back around, but that can be a long time.........seem to be a zero sum game at best. i spent the better part of a week (and by week I mean 20 hour days) learning this

Hiting it at different points..........whole different story...... as I have learned from MO

But if you are limiting your losses to 60 pips, you are obviously not playing without a stop loss and not just mindlessly playing the extremes

just my thoughts



MightyOne wrote:I really do not KNOW anything for sure...

If find my self at the daily low extreme (on the EJ for instance) and I look at the daily chart.

WOW! Price moves 150-300+ pips from a daily extreme just about EVERY day!

So I place my hands under my ass and exit to re buy at a better price as needed, but pretty much just let price do its every day magic.

Even if I lost 60 pips it wouldn't matter because as often as I hit 100+ pips I meet my minimum goal easily.

Look at the weekly chart wick to wick: 450 - 800+ pips right?

Even if you consider the average of the two numbers you are still looking at ~ a 104% weekly return.

Not that you would trade the weekly...

All I am saying is that more is achieved through patience than through force and no person, myself included, knows what is going to happen next.

prochargedmopar wrote:BTW, what do you KNOW is gonna happen next in the above pic.
Do you See it retrace after a breakout..........
Then Your right.
Consolidation before the next breakout.
Now go make some pips.
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 » Mon Jun 01, 2009 1:56 am

2.5 hrs trading.
1 trade.
+1.2 pips.

It was a sell order and e/j dropped 55 pips shortly there after.


Maybe this will help.
A scaled down version of M.O. trading plan.
H1=D1
M15-H1
M5=M15
M1=M5
A 6 pip stop out would be like 60 to me.
A 10 pip tp would be like 100 to me.
Goal of 20 pips a day. I'll double the "goal" chart values once I get the swing of things.
2 wins required on demo after 1 loss on real.
No more than 1 trade per M15 candle.
9 pip catastrophic stop.
Never buy when price is moving up/Never sell when price is moving down on a M1 candle.
I need to find a 30sec chart. Waves for e/j would be much cleaner.

It's funny how this chart looks EXACTLY the same as the ones I was looking at last week. I wonder why? :roll:
Breakout/reversal/consolidation..........

Here's the chart to trade.

Image

And here is the "master" trend chart.

Image
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Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby pierre23 » Mon Jun 01, 2009 3:03 am

"Never buy when price is moving up/Never sell when price is moving down on a M1 candle."

Do you mean never buy when price is moving down and never sell when price is moving up?

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Postby prochargedmopar » Mon Jun 01, 2009 5:13 am

No, Look at a M1 candle.
See it go 8 pips up? Try to buy and see what happens.
Your in the hole Immediately.

The ONLY time this would not be the case is if price is breaking out of a major sup/res area. Even then you better take your 10-15 pips profit quick because it won't be available for long. You'll be back to b/e in short order and then waiting for price to continue on in "your" direction which may not happen for a while.
Watch an M1 chart for a while. You'll see.
The M5 candle patterns will play a roll of when to get in (waves) and the M15 will be like an H1 bias. The H1 will be like a D1 bias.

This is scalping, I need to know which way price is going NOW, not in 15 min or an hr.
If I'm in a trade longer than say, 5 min. I'll close it out with or without profit.
High intensity baby!!!!
#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 » Tue Jun 02, 2009 1:09 am

Well, I took 1 trade per M15 candle and was up 4.5 pips on the first 4 trades.
I bailed to soon on those as each went for 10-15 pips after exit.
I was short when e/j started an 80 pip drop. I bailed at .1 pips when it stalled and backed up.
Then took a reversal.
That did not go well. -10.2
I took 2 demo trades and made 5 on both so got back in the market.
Lost 2 more -10.2 stops
Decided to go short after all. Held for +28.
With that chart and I ended up - pips.
Ridiculous.
Yeah, yeah. Should have waited until things broke, went with the flow, and then called it a day with 20-40 pips.
I'll try again tomorrow.

11629873 EUR/JPY 20 S 136.014 135.925 8.9 18.52 0.00 6/1/2009 20:31 6/1/2009 20:34
11629872 EUR/JPY 20 S 136.022 135.925 9.7 20.18 0.00 6/1/2009 20:31 6/1/2009 20:34
11629875 EUR/JPY 20 S 136.022 135.925 9.7 20.18 0.00 6/1/2009 20:31 6/1/2009 20:34
11629373 EUR/JPY 20 B 136.106 136.036 -7 -14.55 0.00 6/1/2009 20:16 6/1/2009 20:31
11629814 EUR/JPY 20 B 136.145 136.043 -10.2 -21.20 0.00 6/1/2009 20:29 6/1/2009 20:31
11629391 EUR/JPY 20 B 136.158 136.056 -10.2 -21.21 0.00 6/1/2009 20:16 6/1/2009 20:25
11629130 EUR/JPY 20 B 136.258 136.156 -10.2 -21.20 0.00 6/1/2009 20:10 6/1/2009 20:12
11628724 EUR/JPY 20 S 136.458 136.457 0.1 0.21 0.00 6/1/2009 20:03 6/1/2009 20:04
11628286 EUR/JPY 20 B 136.578 136.595 1.7 3.53 0.00 6/1/2009 19:50 6/1/2009 19:51
11628120 EUR/JPY 20 S 136.548 136.540 0.8 1.66 0.00 6/1/2009 19:34 6/1/2009 19:43
11627789 EUR/JPY 20 S 136.549 136.539 1 2.07 0.00 6/1/2009 19:14 6/1/2009 19:18
11627678 EUR/JPY 20 S 136.694 136.687 0.7 1.45 0.00 6/1/2009 19:04 6/1/2009 19:08
Total 260 -5.0 -10.00

Image
#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 razorboy » Tue Jun 02, 2009 1:14 am

pro

do yourself a favor........try the 3-1-1 pattern on the semifor - for your own sanity

usually keeps you on the right side of momentum and gives you an exact idea of when you call it quits.

Even in this raging bull E/J market it was good for 80 to 100 pips on a short to the 38% retracement............plus the way you are using it, repainting usually isn't an issue as if the 3 you use to get in on moves, it means the end of your trade and if it repaints the other way............thats a good thing............

1 trade - 100 pips - If that doesnt make you feel like a BSD, I dont know what will :)


Image

You can use it to tell yourself which horizontal line to go in on........

Don't take your agression out on the market, take it out on your mother - in-law...........
prochargedmopar wrote:No, Look at a M1 candle.
See it go 8 pips up? Try to buy and see what happens.
Your in the hole Immediately.

The ONLY time this would not be the case is if price is breaking out of a major sup/res area. Even then you better take your 10-15 pips profit quick because it won't be available for long. You'll be back to b/e in short order and then waiting for price to continue on in "your" direction which may not happen for a while.
Watch an M1 chart for a while. You'll see.
The M5 candle patterns will play a roll of when to get in (waves) and the M15 will be like an H1 bias. The H1 will be like a D1 bias.

This is scalping, I need to know which way price is going NOW, not in 15 min or an hr.
If I'm in a trade longer than say, 5 min. I'll close it out with or without profit.
High intensity baby!!!!
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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Postby prochargedmopar » Tue Jun 02, 2009 2:03 am

What's a BSD?
I said BAd somina ...... but don't really know.
LOL
Mark-02_Smile My wife wants to know......LOL Mark-02_Smile
She thinks this smiley is cute so I had to add it!!
:smt058
#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 razorboy » Tue Jun 02, 2009 2:59 am

http://theallnighter.blogspot.com/2007/ ... nking.html

Scan down for BSD

If I had to guess from your trading, one of the biggest issues you have is you dont know how to quantify a win or a loss and probably dont have enough familiarity with a chart to really know when to get out - for the good or the bad (btw I am not saying I do - I'm about 50/50 on the exits and I can probably tell you the exact price levels to watch but without a clue as to the sequence they will get hit) - this isn't a matter of discipline, it's just that outside of "go long on green, short on red and get out when price stalls" - you dont have much structure to go on (plus the fact that no one really talks about their win loss ratio too much on here - so you don't know how the experienced guys are really doing and you can't benchmark yourself to them

Until you get good at reading a chart, I suspect a bit more structure will help overcome the "UGH!!! Me So Stupid" part of trading when you think you goofed on a trade - I know it works for me and as I said elsewhere on here, I have no plans to make 75 pips a week. I want those long beautiful trades that remind you of the sound that you hear when you wack a golf ball spot on with a driver (no i dont play golf, just like that "ping")

Yes, I still curse the UJ for not falling already (that pair owes me a good 300 pip fall) but Im getting better. But I must say, the fact that I have this expectation of a fall makes me a worse trader
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 » Tue Jun 02, 2009 4:47 am

very funny.
Never heard it used in economical terms.

M.O. says he gets 30 wins in a row and then starts over to make another run at 30 more.

Thanks for the input.
It's the losses that kill me.
I see price is turning around but can't let go. There is no reason for my stop to be hit when I can see the M1 candle bodies stacking against me. If I would wait on the closed bodies to form when I'm in profit I would be able to get into some very good runs.
I'll mull over both yours and M.O.'s posts the next few days and see what I can see.
It all sounds and looks great when looking at static charts. Live action seems to be a little giffy.
I just gotta focus on closed bodies.
It's all about trusting my own judgement. My first three trades today were good trades that I just didn't let run. I was never down more than 3 pips on the first 5 trades.

The dreaded price stalls, backs up a pip or two and I bail. Knowing full well that my market assesment has not changed and it was just the fear of loss that gets me out.
Gotta get a grip dude.
#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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