ProchargedMopar's Trading Trilogy

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pierre23
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Postby pierre23 » Thu Jul 02, 2009 11:24 pm

prochargedmopar wrote:That thing was dropping like a rock and I just kept buying and buying....Not sure what goes on in my head? Every time I seem to go with the trend it's to late and I get whippsawed out......Seems that I'm so scared it can't go any lower/higher that I just can't force myself to do it.........

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You can't see the trend on an 1 minute timeframe. Go to you're 5min chart and zoom out. You even said it yourself, price kept dropping like a rock and you kept buying because you're scared it can't go any lower or higher.. You DON'T know when the market will change direction!! You can only trade with what you SEE at the time of putting on your trade!

Thats what you have money and risk management for, so IF you do have a trade at the time when the market changes direction then you get stopped out with as little as possible (or a small profit?)

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prochargedmopar
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Postby prochargedmopar » Fri Jul 03, 2009 12:02 am

pierre23,

Here's how I see trend...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

pierre23
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Postby pierre23 » Fri Jul 03, 2009 12:29 am

don't show tro those squigglies lol!

Do you really need that chart to tell which way price is going?

Image

pierre23
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Postby pierre23 » Fri Jul 03, 2009 1:55 am

Easyyyyyyy...

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prochargedmopar
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Postby prochargedmopar » Fri Jul 03, 2009 8:23 am

MightyOne wrote:This is how I was taught to draw TL's from an expensive mentorship that shall not be named because of small details like signed contracts with $250,000 penalties for sharing information ;)

When price makes a higher high then and only then can you connect the lows.

Take the TL and find a candle in the past that price is keying in on and create a channel.

Double the size of the channel and add middle lines to each tube.

When price is in the top quarter trade short and when price is in the lower quarter trade long:

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M.O.

Will you please give me a little more info on the reference points for the drawing of your forks?

You stated to connect the lows only if you have a higher/high and low.
Does this form the bottom of your fork?
Also,

You speak of keying in on candles. Is this the center of your fork or does it give you your angle of the base?

Thanks,
Pro
#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 Fxtraveller » Fri Jul 03, 2009 12:51 pm

what is a "momo" again? :)

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monolisa
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Postby monolisa » Fri Jul 03, 2009 1:00 pm

Hi Fxtraveller,

momo = momentum.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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MightyOne
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Postby MightyOne » Fri Jul 03, 2009 5:53 pm

If it looks easy that is because it is easy :shock:

pierre23 wrote:Easyyyyyyy...

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prochargedmopar
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Postby prochargedmopar » Fri Jul 03, 2009 9:40 pm

pierre23 wrote:don't show tro those squigglies lol!

Do you really need that chart to tell which way price is going?

Image


No pierre23,
I do not need all that to see trend. this is the ONLY sqigglly that I feel is useful for trading. Line chart on close:
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

pierre23
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Postby pierre23 » Sat Jul 04, 2009 3:27 am

MightyOne wrote:If it looks easy that is because it is easy :shock:

pierre23 wrote:Easyyyyyyy...

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To tell you the truth it's kind of daunting that it's possible to make money (hopefully a living..) from doing something simple.. sure it takes practice, experience, patience and determination (just to start the list off) but when you get it it's so worth it..

+46% last trade

I look forward to weekends, but I think I look forward more to Mondays so I can trade.. lol

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