ProchargedMopar's Trading Trilogy

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prochargedmopar
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Postby prochargedmopar » Mon Jul 06, 2009 4:49 pm

Had 15.8 pips doing buyzones last thur. night.
Went on vacation fri.....

Stayed in hotsprings AR fri.
Pipped for a few min. sunday eve. using neighbors "unsecured" network in campbell MO.
Thought I was on MT4 demo but was actually using fxdd mini.
Didn't realize it until 2nd trade and just as the laptop battery was going dead. It was -10 when the laptop cut off and by the time i got things cranked back up and logged back into net it was up +8...
Closed for +6.
Total in 2 buyzone trades.
+10.

Headed to museum
cheers.
#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 Jul 07, 2009 8:42 pm

Not able to trade live much on vacation as I can't get a reliable connection out in the boonies.

Couple demo's this morning. +13 and +10 short e/j and g/u.
Took a couple longs on each pair after the shorts and got in way to early.
Held them to show myself how much I would have made if I'd continued to trade with the current trend. -26 and -30 respectively.

I picked a zeroed out state on e/j withing 4 pips.(H4 timeframe) That zl short would have been sweet.
#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 Jul 07, 2009 8:46 pm

Mightyone wrote:

The question was whether or not it is possible to trade the momo bar (event) and not get burnt.

If you read a few posts back where I described the actions traders should take if they want to be more than mediocre then you would know that we are waiting for MOVEMENT ie MOMENTUM.

So if you are waiting for momentum and momentum is defined by a CLOSED body then how do you trade the soon to be momentum candle?

1. LUCK
2. Momentum of a smaller time frame and holding until the longer term close.

What usually happens after momentum?

Traders are sitting with profit.

What usually happens when traders are sitting with a profit?

Do you really need to know anything else?

Position in the longer term picture would be nice!

Can you trade chart formations, breakouts, congestion, and trends?

Of course you can...

But that is not what I am talking about here.

To recap:

1. I am a postmomentum trader
2. postmomentum traders wait for movement as a sign of both activity and held profits.
3. We can trade in either direction AFTER movement
4. Our only tools are movement, support, resistance, & retracement.

PS: If you are talented enough to trade without market movement then by all means Wink

Bodies show the way...

Do you want to go long or short?

You want to go back to bed right?

Traders are hungry for movement yet movement never seems to pay them off.

IF YOU SEE LOSS THEN YOU CAN SEE PROFIT

The masses are going to buy

Some will be stopped and others will be sitting with a profit

Those that are sitting with a profit will give most or all of it back

How foolish are those that lock themselves in their own little trading bubble and ignore the experiences of others.

Do you not see that their laments are treasure maps?

I don't have to learn their system as all traders are the same; they want the market to move.

Where there is a burst of movement there are traders sitting with profit

Where there are traders sitting with a profit there are traders waiting to give it all back.

The only time that the market does not come back is when the big boys are sitting with a cushion of profit and are ready to move the market in a longer term direction.

The most money to be had is from traders sitting with a profit or trading along side the big boys.
If you are doing anything else then you are living a life of mediocrity.

That said...

What is an event?

An event is that which signals that traders are sitting with a profit.

An event is MOVEMENT.

There are only two things you are thinking about after movement and I am sure that you can guess by now what they are.

A breakout is not an indication of momentum...

If there is one thing that is critical to your success is the ability to let go.
You shouldn't be twitchy to catch a move right from the beginning
.


What do I mean by long term position?

Well that takes us right back to the talks of daily bar and greater extremes.
Last edited by prochargedmopar on Wed Jul 08, 2009 3:43 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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Postby prochargedmopar » Tue Jul 07, 2009 8:52 pm

I copied those posts to a txt document and will read it every day.
day after day.
day after day.
Until I believe what I'm seeing.

I believe it in my intelectual mind, but I've also got to believe it's that easy in my subconcious mind.
#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 MightyOne » Wed Jul 08, 2009 3:08 pm

I was looking at this and thought that it would be more your cup of tea.

All you have to do is "bet" that the hour will close higher or lower than the current price.

I am so tempted right now...

http://www.eztrader.com/Trading.aspx?Category=6

(you might have to click on the currency tab)

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Postby pierre23 » Thu Jul 09, 2009 1:21 am

MightyOne wrote:I was looking at this and thought that it would be more your cup of tea.

All you have to do is "bet" that the hour will close higher or lower than the current price.

I am so tempted right now...

http://www.eztrader.com/Trading.aspx?Category=6

(you might have to click on the currency tab)


I looked into binary forex options the other day;
http://www.forexfactory.com/showthread.php?t=173735

Seems ok... if you do do it can you let us know how it turns out?

Also in the demo they have (on the eztrader site) when your option expires "out of the money", you lose ~$25 and when the option expires 'in the money' you get ~$250, I guess they have something in place to not let you just take a put and call option at the same time right?

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Postby Patch » Thu Jul 09, 2009 2:45 am

MightyOne

Wondering if you place the bet you mentioned at 11.08am in your post? Am I right, it is a 10 to 1 win loss.

What is the attraction of this to you? How long before the hour do you have to place your position? or is it you place your position, and 60 minutes later the deed is done, win or loose?

jb
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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Postby pierre23 » Thu Jul 09, 2009 2:58 am

I think it's when you purchase the option, an hour from then.

Here is a website which has a wide range of the types of betting, even flash betting (0.5 - 4mins). You can sign up for a free account and have a play around with it. It's pretty cool.

http://emu6.betonmarkets.com//d//c_Drop ... underlying

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Postby MightyOne » Thu Jul 09, 2009 2:44 pm

Patch wrote:MightyOne

Wondering if you place the bet you mentioned at 11.08am in your post? Am I right, it is a 10 to 1 win loss.

What is the attraction of this to you? How long before the hour do you have to place your position? or is it you place your position, and 60 minutes later the deed is done, win or loose?

jb


You can place a bet up to 15 minutes before the close of the hour.

The bet lasts until the option expires, NOT 60m after you enter.

The payoff drops as time passes and is as high as 80% although on the site it says 75%.

Min trade size: $30
Max trade size: $1,500 per option type (up to 4 positions totaling $1,500)

You can hedge your risk by using both calls and puts.

If you buy $1,500 calls then you can also buy $1,500 puts before last call.

The attraction is that if you buy a call at 1.50000 and price closes at 1.50001 then you win ~75% on your money even though price has not really moved.

If you buy a $100 call (70% payout) and then hedge with a $100 put as price immediately reverses on you then your risk is $30 so long as price does not close between you option strike prices (the smaller the space the smaller your risk...1m charts anyone?)

Same $100 call only price shoots up and you buy a $70 put:

+119 if price closes between your strikes and B.E. if it doesn't.

Or you could not purchase the put and take the $70 gain.

Without hedging it is improbable that you will win trading binary options.

The name of the game is Reduction of Risk not MR. Right.

The cap sux! What am I going to do with $1,500 you say?

My strategy would be to start really really small ($300) and risk up to 20% per trade (10% for the position and 10% to cover).

At an average of 7% compound per day you would reach $15,000 in 57.82 days.

Once you hit the cap you would then expect to make:

$1,050 per day
$5,250 per week
$22,575 per month
$273,000 per year

A more realistic minimum might be $675 a day.

If you just so happen to be a god and you trade 2 hours a day at the cap then you can make as much as $45,150 per month.

It is nice to dream :roll:

Now I have to use my God given powers to make it work :evil: :shock:

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Postby MightyOne » Thu Jul 09, 2009 8:15 pm

I think that my mind is made up:

http://www.nadex.com/trade/binary-how-it-works.html
(Regulated by the CFTC)

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