ProchargedMopar's Trading Trilogy

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pierre23
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Postby pierre23 » Tue Jun 30, 2009 4:22 am

Pro you were doing so well, that $1000 loss was a big hit.. I never allow myself to lose more than $200-300 per day. Why? Because anything more than that is a hasstle to make back the next day with my account size. And because I know I can STOP trading, take the loss and come back the next day with a clear mind and make it back again, and if its a good day, recover previous losses as well as profit.

Go into microsoft word and in a big sized font type out your MAXIMUM DAILY LOSS LIMIT and below it it should say "I'LL MAKE IT BACK TOMORROW!". Print it, and stick it on a wall in front of you, or keep it beside your keyboard or tape it to your desk. Heck, frame it and hang it up.

If you see your losses coming close to/maybe a little over your limit you've set yourself, just look at your printed sheet of paper and stop trading for the day...

I've found this will keep me from overtrading. When you start to lose a lot of money it's harder to make it back as your state of mind changes and you want to take 'revenge' on the market and take back what is yours. You can't trade like that. Just close your trading software for the day and clear your mind and come back to it the next day fresh.

Seriously, try it. Soon you wont need to continue looking at that bit of paper when you start to develop the discipline yourself

all the best

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prochargedmopar
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Postby prochargedmopar » Tue Jun 30, 2009 4:51 am

Thanks for the tips pierre23,

Here is the difference in a trade taken with the trend and one against.
1st is calp long, saw 2.8 pips but wasn't quck enough to grab it.
2nd was after a small correction and before I even knew it I was up six and then just asking myself how many pips do I want to take this time.
I want this to become a habit.
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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

dchappy
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Postby dchappy » Tue Jun 30, 2009 8:26 am

Pro : 1 battle does'nt decide the war ,Shake it off....Fight On !!
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jhtumblin
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Postby jhtumblin » Tue Jun 30, 2009 9:59 am

Everyone has to pay tuition while at the University of Capitalism. Now that you have paid for your degree you make some money off of it.

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Shinobi-X
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Postby Shinobi-X » Tue Jun 30, 2009 12:39 pm

@prochargedmopar
maybe you should stretch your TP or re-calculate the numbers behind your MM. sometimes the R:R and TP is too tight and you end up unconsciously narrow/limit your mind to a certain pips/trade when you could actually see the possibility of getting more out of your trade. your numbers are fixed but your mind (or emotion or psychology or whatever you want to call it) works in real-time IMHO.

Alternatively, if you want to keep tighter R:R and TP you should maybe work in lower TF (in your specific case, lower than M1). Generally, a TP of 3-5 pips/trade (excluding commission/spread) works best in S1 (one second) or S5 IMHO.


@dchappy
LOL. just when you think you had them...
The gap between reality and dream is called action.

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prochargedmopar
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Postby prochargedmopar » Tue Jun 30, 2009 2:13 pm

Thanks guys.

London
4 trades +4.2 pips
profit/ what profit....can't let them run.

NY session -56.6
Look at this crap. Should have never been trading... e/j was jumping up and down..
What happened to 5 trades per session?
What happened to 20 pips loss max?

I'm down to 20.99 in account.
I'm having to use .10 pips as I got margin called again at $1 pips.
I simply amaze myself. And to think I want to be rich/free.
LOL
What a joke.

You know what pisses me off the most is that I bought at 33 and it went to 73.
I also sold at 65 and it went down to 10.
That's 40 and 55 pips respectively. Even if I would have held for 1/2 that.
HOW do you do it?


12641835 EUR/JPY 5 S 135.630 135.712 -8.2 -4.25 0.00 6/30/2009 09:41 6/30/2009 09:44
12641610 EUR/JPY 5 S 135.587 135.669 -8.2 -4.26 0.00 6/30/2009 09:33 6/30/2009 09:41
12640741 EUR/JPY 5 B 135.650 135.693 4.3 2.23 0.00 6/30/2009 09:14 6/30/2009 09:14
12640686 EUR/JPY 5 B 135.625 135.672 4.7 2.44 0.00 6/30/2009 09:13 6/30/2009 09:13
12640555 EUR/JPY 10 B 135.705 135.653 -5.2 -5.40 0.00 6/30/2009 09:11 6/30/2009 09:12
12640534 EUR/JPY 10 S 135.653 135.702 -4.9 -5.09 0.00 6/30/2009 09:10 6/30/2009 09:11
12640147 EUR/JPY 10 B 135.687 135.605 -8.2 -8.52 0.00 6/30/2009 09:05 6/30/2009 09:06
12639673 EUR/JPY 10 S 135.598 135.680 -8.2 -8.52 0.00 6/30/2009 08:54 6/30/2009 09:05
12639455 EUR/JPY 10 B 135.691 135.609 -8.2 -8.54 0.00 6/30/2009 08:50 6/30/2009 08:51
12639331 EUR/JPY 10 S 135.595 135.677 -8.2 -8.53 0.00 6/30/2009 08:47 6/30/2009 08:50
12638432 EUR/JPY 10 B 135.574 135.642 6.8 7.08 0.00 6/30/2009 08:20 6/30/2009 08:23
12637975 EUR/JPY 10 S 135.533 135.533 0 0.00 0.00 6/30/2009 08:12 6/30/2009 08:19
12637729 EUR/JPY 10 B 135.540 135.527 -1.3 -1.36 0.00 6/30/2009 08:07 6/30/2009 08:12
12637615 EUR/JPY 10 S 135.533 135.535 -0.2 -0.21 0.00 6/30/2009 08:04 6/30/2009 08:07
12637550 EUR/JPY 10 S 135.433 135.553 -12 -12.52 0.00 6/30/2009 08:02 6/30/2009 08:03
12637235 EUR/JPY 10 B 135.335 135.383 4.8 5.01 0.00 6/30/2009 07:54 6/30/2009 07:56
12637043 EUR/JPY 10 B 135.425 135.370 -5.5 -5.74 0.00 6/30/2009 07:50 6/30/2009 07:51
12636964 EUR/JPY 10 S 135.516 135.505 1.1 1.15 0.00 6/30/2009 07:46 6/30/2009 07:47
#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

jasonckb
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Postby jasonckb » Tue Jun 30, 2009 2:52 pm

prochargedmopar wrote:Thanks guys.

London
4 trades +4.2 pips
profit/ what profit....can't let them run.

NY session -56.6
Look at this crap. Should have never been trading... e/j was jumping up and down..
What happened to 5 trades per session?
What happened to 20 pips loss max?

I'm down to 20.99 in account.
I'm having to use .10 pips as I got margin called again at $1 pips.
I simply amaze myself. And to think I want to be rich/free.
LOL
What a joke.

You know what pisses me off the most is that I bought at 33 and it went to 73.
I also sold at 65 and it went down to 10.
That's 40 and 55 pips respectively. Even if I would have held for 1/2 that.
HOW do you do it?


12641835 EUR/JPY 5 S 135.630 135.712 -8.2 -4.25 0.00 6/30/2009 09:41 6/30/2009 09:44
12641610 EUR/JPY 5 S 135.587 135.669 -8.2 -4.26 0.00 6/30/2009 09:33 6/30/2009 09:41
12640741 EUR/JPY 5 B 135.650 135.693 4.3 2.23 0.00 6/30/2009 09:14 6/30/2009 09:14
12640686 EUR/JPY 5 B 135.625 135.672 4.7 2.44 0.00 6/30/2009 09:13 6/30/2009 09:13
12640555 EUR/JPY 10 B 135.705 135.653 -5.2 -5.40 0.00 6/30/2009 09:11 6/30/2009 09:12
12640534 EUR/JPY 10 S 135.653 135.702 -4.9 -5.09 0.00 6/30/2009 09:10 6/30/2009 09:11
12640147 EUR/JPY 10 B 135.687 135.605 -8.2 -8.52 0.00 6/30/2009 09:05 6/30/2009 09:06
12639673 EUR/JPY 10 S 135.598 135.680 -8.2 -8.52 0.00 6/30/2009 08:54 6/30/2009 09:05
12639455 EUR/JPY 10 B 135.691 135.609 -8.2 -8.54 0.00 6/30/2009 08:50 6/30/2009 08:51
12639331 EUR/JPY 10 S 135.595 135.677 -8.2 -8.53 0.00 6/30/2009 08:47 6/30/2009 08:50
12638432 EUR/JPY 10 B 135.574 135.642 6.8 7.08 0.00 6/30/2009 08:20 6/30/2009 08:23
12637975 EUR/JPY 10 S 135.533 135.533 0 0.00 0.00 6/30/2009 08:12 6/30/2009 08:19
12637729 EUR/JPY 10 B 135.540 135.527 -1.3 -1.36 0.00 6/30/2009 08:07 6/30/2009 08:12
12637615 EUR/JPY 10 S 135.533 135.535 -0.2 -0.21 0.00 6/30/2009 08:04 6/30/2009 08:07
12637550 EUR/JPY 10 S 135.433 135.553 -12 -12.52 0.00 6/30/2009 08:02 6/30/2009 08:03
12637235 EUR/JPY 10 B 135.335 135.383 4.8 5.01 0.00 6/30/2009 07:54 6/30/2009 07:56
12637043 EUR/JPY 10 B 135.425 135.370 -5.5 -5.74 0.00 6/30/2009 07:50 6/30/2009 07:51
12636964 EUR/JPY 10 S 135.516 135.505 1.1 1.15 0.00 6/30/2009 07:46 6/30/2009 07:47


Trust me my friend, the system u r using doesn't suit your character that I have said before. Kindly pls. re-think about this. I 've also found that you like to play with the setups in your monitor rather than the market.......

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blubbb
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Postby blubbb » Tue Jun 30, 2009 3:24 pm

Have you tried closing maybe 2/3 of an order and let 1/3 run? You'll have to adjust the ratios so that after taking profit with the bigger part, you can let the smaller one run easily into the SL and still get a positive result. Knowing this, maybe it'll become easier for you to let go. Plus having an order open will keep you away from putting on a new order.

Example: 2/3 close with +7 by hand and 1/3 closes with -9 (SL). That is still profitable. And image what happens in those cases when price really rockets in your direction. I think this is what MO meant when he said what his edge was: Not knowing what happens next.

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prochargedmopar
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Postby prochargedmopar » Tue Jun 30, 2009 4:20 pm

Looky what we have here:

+42.1 pips.....target hit.

12645904 EUR/USD 1 B 1.40031 1.40452 42.1 4.21 0.00 6/30/2009 10:45 6/30/2009 12:17


And here:
+48.8 pips

Image

And even here:
+43 pips

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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TheRumpledOne
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Postby TheRumpledOne » Tue Jun 30, 2009 5:13 pm

Pro:

So many indicators, so little screen space.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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