ProchargedMopar's Trading Trilogy

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prochargedmopar
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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Sat Mar 20, 2021 1:51 am

MightyOne wrote:
prochargedmopar wrote:Its NOT my $$.

I tell you to risk little but then I tell you to risk everything...It just doesnt make sense.
Paraphrased MightyOne

_20150609_192416.JPG
(2015)

If you are going to paraphrase me then say something like "risk zero, target zero"

"More risk is more risk, more profit is more profit."

"If your position size is not growing then you are doing it wrong"
Last edited by prochargedmopar on Sat Mar 20, 2021 1:57 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

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prochargedmopar
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Re:

Postby prochargedmopar » Sat Mar 20, 2021 1:56 am

jhtumblin wrote:Pro, (2009)

I know you are struggling some with accepting losses right now. A few ideas for you to think about.

My mentor once told me, "The best traders are great losers." I thought he was crazy at the time and it took awhile for me to understand what exactly that meant, but it is completely true.

I preach and preach about money management. Any time someone wants me to teach them how to trade, or when they come to sit and watch me for the day, it's all I emphasize and often times people walk away unimpressed by my lectures because they have no idea how important it is. The true fact is that even if a new trader tells me they understand MM, they will still screw up repeatedly and after listening to their thoughts on trading they are still always looking for a better entry/exit method. Management is not sexy, nobody wants to think about it, it doesn't fit into the idea of a holy grail.

Everyone needs to understand this: Money Management IS your entry and exit method. Good management= a trade with positive expectancy which has a tolerable risk. Bad management= a trade with unknown expectancy, intolerable risk, or both. I don't care if you throw darts at your computer screen to choose your trade direction, as long as you manage it properly and that includes choosing whether take the trade in the first place....guess what? You will profit...consistently!

Now where does this fit in to our discussion? You will lose....it's not unfortunate, that's just how it is. Back to my mentor's message. If you don't lose when you are supposed to, you are a bad manager and will be at some point, a broke trader. In your list of stop options, A. Was definitely the correct choice, always live to fight another day. If you are wounded you can heal. If you are dead, well you're just dead.

Be happy about hitting the trade button to close a losing position, because it means only one thing.........your broker didn't have to close it for you.
#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:

Postby prochargedmopar » Sat Mar 20, 2021 2:03 am

(2009)
prochargedmopar wrote:MIghtyOne:
Thanks for the vote of confidence.
I put the three and flee on my stats chart.
Your Z-lines are really looking good.

Thanks blubbb for the pop-ups.

Sun. night.
All demo trades to see if what I"m seeing is actually what I'm seeing.
Yup.
7 for 7 on quick scalps.
Used this chart.
Image

And this chart.
Image

I'll clean them up a bit over time as I'm not looking at everything that is on there anyway. The DSS is always late but would actually help me to hold trades longer if I followed it once in them.....Or I could just go with the closed candle trick.


Guess I did trade demo sometimes in the beginning:
All I got to say is WTF?
#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 » Sun Mar 21, 2021 4:21 pm

"Entries are only the 10% of trading" MO

Exercise is only the 10% of weightloss and a healthy lifestyle.
#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 Mar 22, 2021 4:06 am

When to exit training?
Not yet.
Went bowling and came back to this.
Gap not quite closed yet.

eu.JPG
eu.JPG (71.71 KiB) Viewed 1731 times

eu1.JPG
eu1.JPG (74.1 KiB) Viewed 1731 times

eu2.JPG
eu2.JPG (101.14 KiB) Viewed 1731 times
#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 aliassmith » Mon Mar 22, 2021 5:46 am

prochargedmopar wrote:When to exit training?
Not yet.
Went bowling and came back to this.
Gap not quite closed yet.

eu.JPG
eu1.JPG
eu2.JPG


Didn't you take a 1.5x, 2x, or 3x?
Trade Your Way as Long as It Makes Money!

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Re: ProchargedMopar's Trading Trilogy

Postby prochargedmopar » Mon Mar 22, 2021 6:00 am

I've gotta get some sleep.
This thing seems capped.

eu3.JPG
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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 Mar 22, 2021 2:08 pm

Pretty sure most m5 traders are not holding till now.
Entry was zeroed out at least 4x.

eu4.JPG
eu4.JPG (137.25 KiB) Viewed 1679 times
#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 Mar 22, 2021 4:50 pm

Good place to take profit at 50% retrace of H4 down move.
OR,
target the double top h4 and let it roll.

eu5.JPG
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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 aliassmith » Mon Mar 22, 2021 4:51 pm

prochargedmopar wrote:Pretty sure most m5 traders are not holding till now.
Entry was zeroed out at least 4x.

eu4.JPG


You should of filled some to most of the gap and exit. Holding to get every last pip is a losing strategy.
Trade Your Way as Long as It Makes Money!

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