ProchargedMopar's Trading Trilogy

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MightyOne
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Postby MightyOne » Tue Jun 30, 2009 6:05 pm

You need some 1 on 1 time w/ TRO in Cabo...

maybe instead of refunding your account you should save for that next.

Instead of trading demo you should "picture trade" by saving a picture every time you wish enter enter and exit.

Create a main file folder and label it with today's date.
Create sub folders and label them TRADE 1, TRADE 2, etc.

Put 1 entry and 1 exit picture in each folder.

You can then post a zip file containing all of your trades and experienced traders can work with you on your weaknesses.

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prochargedmopar
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Postby prochargedmopar » Wed Jul 01, 2009 12:24 am

I must respectfully disagree with both TRO and MighyOne.

Dyn fibs and candle overlays is not to many indicators to use as trading aids.

Daily Pivots and shi-channel for longer timeframe charts is not to many indicators to use for market direction. HLOC I don't look at or the M.O. dyn trend so they will be removed. GTF/KRV blah blah blah I was just seeing how they reacted but will also be removed.....

Having the b-clock does not junk up the chart

Also,
IF I would have limited my losing days to 30 pips max over the last 4 month's my account would be very FAT.
Granted I would have had a few more losing days but that would no way overtake the many days I've had with lots of pippage.

I can make pips.
I can win trades.
I do make pips.
I do win trades.
I'm doing it right now.
This is not rocket science.

I've just got to come to terms with the fact that EVERY single day for the rest of my life will not be a profitable day. Everyone has a bad day once in a while.....This has been my biggest difficulty. I refuse to except that I could possibly lose.
I can win 10-15 trades in a row.....1 loss and I'm thrown for a loop.
I feel it is totally unacceptable. Then I spiral downward.

Thanks and Enjoy
#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 » Wed Jul 01, 2009 12:48 am

WHY DO 95% OF TRADERS LOSE?
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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prochargedmopar
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Postby prochargedmopar » Wed Jul 01, 2009 12:59 am

Key reversal
higher low, lower low. higher low of bars 3,2,1.
Rocket science.

Change of heart
last candle red/ this one green....sounds like a 1 candle buzzard.
rocket science.

5 of the last 7 candles have closed higher....up tend?
More rocket science.

See what I mean.


Gaining 5-15% in your account for many consecutive days....Then losing 65% in one.
Gaining 110% in a week and then losing 98% of total account value in one day.
Even yesterday. Account was up 33% in 2 sessions. Not bad for most "playa's".
Then it dropped by 60% during the third session.

More rocket science.

Like my dad says:
Every problem mankind has is because of either GREED, STUPIDITY or both.

Take your pick.
Last edited by prochargedmopar on Wed Jul 01, 2009 2:06 am, edited 1 time 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

pierre23
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Postby pierre23 » Wed Jul 01, 2009 1:14 am

prochargedmopar wrote: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?


So what did you get out of those trades? How much are you looking for if that isnt enough?

Pro you know how they say trade with the trend? Look from the left of the screen to the right, which direction is the market heading? "If you can't tell, give your chart to a 5yr old and ask them the same question"

Pull up a 5min chart, find the direction the market is moving, wait for a retrace and set a limit order at the low/high of the most recent lowest low/highest high with a few pips difference (3-5pips).

Take note of the chart below.

Image

Purple line is the start of the new trend, you can tell pretty much from the beginning because of the momentum in that direction. Red lines are continuation of trend. White lines are possible entry points, simply trading long or short with the trend.

You can see you don't need to be in at the start of the trend to profit... there are so many entries in the middle and toward the end. You DON'T know how long you will see price continueing in one direction so you can only trade on what you SEE NOW.

The Loss you see there could be a loss from the previous short trade if your sl was ~20.

Before the last short entry you can see a jump up in price, looks like a change of the trend. There are a few long entries I can see there for a bit of profit but the market continued back down afterward.

You may be thinking it's easy to just pull up a chart then mark off all the entries you WOULD have taken. But it's just as easy to define which way you want to trade and DO IT.

Maybe these small scalps arnt for you, try holding onto your trades longer.

I only have 2-4 trades a day most of the time, sometimes I get in on massive pushes in my direction and get out, sometimes I leave my trade half the day -- trading in the direction the market is moving.

Try defining the direction of the market and hold onto a trade. Don't let the dips and retraces scare you out of the market.

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pierre23
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Postby pierre23 » Wed Jul 01, 2009 1:26 am

A "In the moment trade"

Image

EJ Long @ 135.35

Now I'll hold onto this maybe for a few hours but I'll continue to keep my eye on the charts. Had a 6% loss today already - this trade has recovered that loss and up 8%.

You won't win ALL of them.

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prochargedmopar
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Postby prochargedmopar » Wed Jul 01, 2009 2:04 am

pierre23,
How simple.

Thanks.

Very much appreciated..... Trading is really simple if I will allow it to be.
#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

pierre23
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Postby pierre23 » Wed Jul 01, 2009 3:28 am

Pro take a look

Image

Push up, retrace, push up, retrace. A pattern which repeats.

It's coming to resistance, lets see what will happen. If it breaks it with momentum and continues up we could be in for a good run.

And hey, exactly what you said, trading is really simple if you allow it to be. Don't get side-tracked with all those indicators you have on your chart you really only need one thing, and you already know what that is ;)

Fxtraveller
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Postby Fxtraveller » Wed Jul 01, 2009 9:40 am

Pro,
Could you post or give directions to the fibs_sr with 4-5+ levels? I got only up to 3....
Cheers.

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***FX-JEDI***
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Postby ***FX-JEDI*** » Wed Jul 01, 2009 12:26 pm

Hey Pro,

Its good to read your posts, you are honest to the world about your trading, & admitting that big lost, well for me would be hard to do, so I admire you for that. your getting the pips, but then your handing them back & some more, which has happened to me, & I guess quite a few other out there. but you really don't need me telling you that.

there's a lot of good people on this forum & I have learn't many new trading ideas, & have gotten back on the right track, with more enthusiasm then ever.. believe me I had a lot, I used to sleep with my laptop watching the market...lol

Anyway just wanted to throw my 2 cents in...lol

I thought you may get something out of screen shots below, which you probably know about, but thought it would be a good read.

like others said previously if you know a bit more about the higher time frames then, trading the smaller ones maybe a bit more easier.

I would look no lower then 30 min chart for direction. trade the smaller time frames according to the 30 min direction.

I like to think of the market like the tides, riding the waves in the direction of the tide...

I used TL's to determine Trend on any time frame, they don't lag like MA's.

People draw TL's in different ways, mine are drawn a certain way, if you would like to know just ask.

finally here is my results from start of Feb. still going well trading when I can, finding time bit hard as renovating a house & time with family...

anyway enough writing.

Cheers ***FX-JEDI***
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