ProchargedMopar's Trading Trilogy

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zapzinig
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Postby zapzinig » Tue Jul 14, 2009 1:24 am

Pierre23,
I have printed out your picture. It really does clearly show why you should trade one direction with the trend.

Now I see why zlines work because you are going with the recent momentum trend you are just getting a better price for entry in the direction of the trend(momentum).
Thanks,

-ZZ

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pierre23
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Postby pierre23 » Tue Jul 14, 2009 1:58 am

zapzinig wrote:Pierre23,
I have printed out your picture. It really does clearly show why you should trade one direction with the trend.

Now I see why zlines work because you are going with the recent momentum trend you are just getting a better price for entry in the direction of the trend(momentum).
Thanks,

-ZZ


No worries, glad it helps. I've posted another picture of a few trades I took just before, on the NLA thread. Shows how simple it is to make money if you have patience and trade WITH the market.

Pierre

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monolisa
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Postby monolisa » Tue Jul 14, 2009 2:01 am

Good analysis, pierre23.

Breakout trade is easy to spot especially when momentum is present and the trend is confirming that. Mightzone trade (picking the end of a correction) is where the red lines are and lower TP might help to pick the best entry level.

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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prochargedmopar
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Postby prochargedmopar » Tue Jul 14, 2009 3:04 pm

good info pierre23,
thanks.

4 trades for 10ish pips and then a few .10 scalps on e/j for fun.

1 London
1 driving home
5 NY

12998412 EUR/JPY 1 B 129.436 129.473 3.7 0.40 0.00 7/14/2009 10:45 7/14/2009 10:47
12997929 EUR/JPY 1 B 129.565 129.578 1.3 0.14 0.00 7/14/2009 10:37 7/14/2009 10:37
12997655 EUR/JPY 1 S 129.812 129.773 3.9 0.42 0.00 7/14/2009 10:33 7/14/2009 10:33
12996806 EUR/USD 30 B 1.39765 1.39768 0.3 0.90 0.00 7/14/2009 10:01 7/14/2009 10:02
12996808 GBP/USD 30 B 1.62970 1.63016 4.6 13.80 0.00 7/14/2009 10:01 7/14/2009 10:02
12993146 EUR/USD 30 B 1.39681 1.39700 1.9 5.70 0.00 7/14/2009 08:39 7/14/2009 08:39
12983687 EUR/USD 30 B 1.39736 1.39775 3.9 11.70 0.00 7/14/2009 02:56 7/14/2009 03:02
Total 123 19.6 33.06 0.00
#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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MightyOne
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Postby MightyOne » Tue Jul 14, 2009 7:06 pm

prochargedmopar wrote:good info pierre23,
thanks.

4 trades for 10ish pips and then a few .10 scalps on e/j for fun.

1 London
1 driving home
5 NY

12998412 EUR/JPY 1 B 129.436 129.473 3.7 0.40 0.00 7/14/2009 10:45 7/14/2009 10:47
12997929 EUR/JPY 1 B 129.565 129.578 1.3 0.14 0.00 7/14/2009 10:37 7/14/2009 10:37
12997655 EUR/JPY 1 S 129.812 129.773 3.9 0.42 0.00 7/14/2009 10:33 7/14/2009 10:33
12996806 EUR/USD 30 B 1.39765 1.39768 0.3 0.90 0.00 7/14/2009 10:01 7/14/2009 10:02
12996808 GBP/USD 30 B 1.62970 1.63016 4.6 13.80 0.00 7/14/2009 10:01 7/14/2009 10:02
12993146 EUR/USD 30 B 1.39681 1.39700 1.9 5.70 0.00 7/14/2009 08:39 7/14/2009 08:39
12983687 EUR/USD 30 B 1.39736 1.39775 3.9 11.70 0.00 7/14/2009 02:56 7/14/2009 03:02
Total 123 19.6 33.06 0.00


Even if you are using an 8 pip SL, these trades have a negative EV or break even at best.

I would consider them to be 7 losing trades in a row.

You need to make at least 80% of your risk in profit unless your accuracy is in the high 90's :roll:

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prochargedmopar
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Postby prochargedmopar » Tue Jul 14, 2009 10:35 pm

Yes, I'm using 8 pip stop + spread.
Yes, I to feel these are all losers as I would like to get at least 1:1 to be what I would consider a "winning" trade.

I don't feel 3:1 (+24) is asking to much analytically but psychologically it seems impossible.

I"m just not sure how the hell to do it.
#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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MightyOne
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Postby MightyOne » Wed Jul 15, 2009 4:40 am

Find momentum on a 6 hour chart

For reversals, find momentum on a 3 hour chart

Find momentum on a 1 hour chart that matches the direction of the 6 or 3 hour chart.

Drop down to the 1m chart with the buy zone attached to 1 hour custom candles.

Keep in mind that price likes to go the wrong way first for 5-20 and some times even 50+ pips before moving in the "right" direction.

Only trade in the direction of profit based on a 3-6x greater time frame when the 1x time frame matches that direction.

If I told you that the year would close down 3,000 pips then how would you trade?

YOu have to have a larger picture even if you are trading the smaller picture.

If price is going to close down 3,000 pips then you are not even thinking about long trades.

You would be out of the market when price is moving up and shorting the market when price is moving down.

Take your gains and consider them to be a cushion or investment into future longer term profits.

Day trading is great; how else are you going to achieve 5 pips = 1%?

5 pips = 1% and catching a 500 pip move is even better as you double your money without being whipsawed.

Throwing jabs is ok, but eventually you are going to have to try and knock the other guy out.

prochargedmopar wrote:Yes, I'm using 8 pip stop + spread.
Yes, I to feel these are all losers as I would like to get at least 1:1 to be what I would consider a "winning" trade.

I don't feel 3:1 (+24) is asking to much analytically but psychologically it seems impossible.

I"m just not sure how the hell to do it.

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MightyOne
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Postby MightyOne » Wed Jul 15, 2009 4:44 am

PS: I am not trying to be critical, I just don't want to see you 2 years from now still posting small daily gains and working at a JOB.

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Patch
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Postby Patch » Wed Jul 15, 2009 4:53 am

MO

No doubt, jobs (just over broke stink) stink. Patch In VA
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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prochargedmopar
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Postby prochargedmopar » Wed Jul 15, 2009 9:04 am

Hmmmm,
Big Sigh!!

M.O.
You always make it sound so easy.

This one takes the cake.

Don't kick me, and I do not mind others being critical....I need to hear where I'm f'n up.

I was thinking before your post that just maybe I can use mental tp/sl's.
Then,
Stop out at 5-7 depending on the currency. (e/j, e/u, or g/u)\
TP would be 8-10..........UNLESS I'm +5 or more then I'd close at B/E.

That would be about 1.3:1 .... profit/ loss.

Only need to win about 40-50% of time to avoid going broke.

OK, I got it:
ONLY TRADE WITH HIGHER TIME FRAME....DO NOT REVERSE.

Could I use
4H/2H and 30M??
Enter on 5M momentum.


I've got my charts set up like this as of yesterday.
I'm trying to trade the M5's so I can ride for more pips.
H4 over H1
H2 over M15
M30 over M5 (5 lines as entries) (leading indicator-BZ/Casino combo)

My biggest issue is that I can see what the higher time frames are doing and the damn thing usually does it but once in the trade it's like I totally forget it and focus on the (5-20) in the "wrong" direction.

Hmmmmmm.

Like London tonight....had 3 trades for +7.9 pips.......then one loss, then double up a couple.... Ended being -9.7
All plans out the window once in trades.
Freakin crazy.

I'm gonna get this..... NO DOUBT ABOUT IT.
#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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