ProchargedMopar's Trading Trilogy

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prochargedmopar
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Postby prochargedmopar » Wed Apr 08, 2009 3:04 pm

I have finally conceded to trading ONLY ONE currency a session.
Even if I have to sit there while others are banking away and the one I picked is sitting in MUD.
ONLY ONE.
It's seems as I take the trades that lose or don't move and miss the movers and the shakers on the "others".
Bring on e/u! AM
Bring on e/j! PM (if the spread is decent otherwise it's u/j)
#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 blubbb » Wed Apr 08, 2009 3:27 pm

Plus most of the time, if you are wrong on one pair you seem to be automatically wrong on the others too (at the same time). This somehow happens when the market turns.

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Postby prochargedmopar » Thu Apr 09, 2009 2:11 am

Asian Session
Trade time: About an hr. Total
M1 chart
7 trades 6/1
TRO Thankyou Fund:
$30.13+29.29=+59.42

EUR/JPY 40 B 132.145 132.188 4.3 17.24 0.00 4/8/2009 22:00 4/8/2009 22:02
EUR/JPY 40 B 132.180 132.188 0.8 3.21 0.00 4/8/2009 21:55 4/8/2009 22:02
EUR/JPY 40 S 132.175 132.140 3.5 14.03 0.00 4/8/2009 21:39 4/8/2009 21:42
EUR/JPY 40 S 132.167 132.210 -4.3 -17.23 0.00 4/8/2009 21:38 4/8/2009 21:39
EUR/JPY 40 B 132.192 132.199 0.7 2.81 0.00 4/8/2009 21:18 4/8/2009 21:19
EUR/JPY 40 S 132.124 132.123 0.1 0.40 0.00 4/8/2009 18:51 4/8/2009 18:53
EUR/JPY 40 B 132.171 132.193 2.2 8.83 0.00 4/8/2009 18:46 4/8/2009 18:47
280 7.3 29.29 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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Postby TheRumpledOne » Thu Apr 09, 2009 5:23 am

"You need to start as small as possible and then gradually allow yourself to
grow into greater and greater amounts of market information. What you
want to do is become an expert at just one particular type of behavior
pattern that repeats itself with some degree of frequency. To become an
expert, choose one simple trading system that identifies a pattern,
preferably one that is mechanical, instead of mathematical, so that you
will be working with a visual representation of market behavior. Your
objective is to understand completely every aspect of the system-all the
relationships between the components-and its potential to produce
profitable trades. In the meantime, it is important to avoid all other
possibilities and information."

- THE DISCIPLINED TRADER by Mark Douglas
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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Postby noone22 » Thu Apr 09, 2009 12:07 pm

prochargedmopar wrote:M1 chart
EUR/JPY 40 B 132.145 132.188 4.3 17.24 0.00 4/8/2009 22:00 4/8/2009 22:02


Hi, procharged
Not too bad results on EUR/JPY.
May I ask couple of questions:
1) Are you trading buyzone method or "Drain the banks" also?
2) What's your opinion about best currency pair for Asian session?
3) What is your spread and/or commisions for EUR/USD
and EUR/JPY?
4) Are you trading mini-lots?
5) Are you trading real money? Which broker? Which soft - is for charts and which - for trades?


My answers to these questions:
1) I'm with buyzone only (using buyzone for dummies mq4), just too many things to learn, I'm not overhelming myself with all of TROs indicators and systems. "Drain the bank" looks very promising, but I haven't got a clue about semaphors yet - so not even looking at it now.

2) I was playing a bit with different pairs: EURUSD, GBPJPY (4.5 pips monster moving pretty fast, too fast - I'm mainly using it to see actual difference between bid and ask and relevant events), USDJPY,
AUDUSD. I cannot make conclusions about best pair for me yet - EURUSD looks rather stable and interesting with 1pip spread (I'm with MBT broker) -but it is rather slow during Sydney/Tokyo session and real movement begins with London session only, AUDUSD is not too bad - but up to 2 pips spread and it's probably the slowest pair - sometimes need to wait hours for 5-6 pips movement outside the zone. All /JPY pairs - are working rather good during nearly every session. Also - one of their advantages - I have to input 3 digits (after dot) for them instead of 5 for the rest - which makes life simpler, reduce mistakes, and I could calculate pips here by heart - which seems to be impossible for me for EURUSD so far.

Following the advice from metrs - I'm trying to concentarte on 2 pairs at maximum - my choice so far is EURUSD and USDJPY

3) Spread on MBT for EURUSD is varying from 0.4pips up to 1.5pips,
in average - is 1 pip. Comission is $1.30-$1.40 per trade (both sides).
With my settings of 5pips profit target and 6pips stop-loss I'm getting
$5 - $1.4 commisions = $3.60 per winning trade
and $6 + $1.4 = $7.4 per loser
- which automaticaly means - that I have to win 2 from 3 trades just to keep break-even balance - tough task, isn't it?

4) I'm with mini-lots - it's default $10K trade for MBT

5) I'm in demo, watching charts and indicators from MBT MT4
and placing trades through MBT Navigator (still learning, I was
trading via MBT and/or Alpari MT4 before, but now start to simulate
my future real trading environment exactly)

Couple of direct questions to you:
1) Why M1 chart? I'm using M5 chart with multi-meters indicators
2) What is your exact trade info format for this line, for example:
EUR/JPY 40 B 132.145 132.188 4.3 17.24 0.00 4/8/2009 22:00 4/8/2009 22:02

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Postby prochargedmopar » Thu Apr 09, 2009 2:25 pm

Noone22,
I'll get to answer you tonight as I'm off work this eve. so I'm gonna trade 5:30 pm until maybe 8am the next day.
Here's what happened this morning.
The two losses killed me and both were in a range.....I changed my stop to 15 for the future. I've either got to stop at 5 or let it run and avg. out of these trades. I'm finding when in a range they usually don't go very far.
TRO Thankyou fund:
59.42+18.40=$77.82

This is gonna work. I'm not getting near the pips I want yet but I can see the possibilities once I get the feel of it. Get some of these rules under control and limit/work my way out of the small drawdown trades.
Only took the u/j trades ONLY because TRO enticed me into it in the 2% club.
Oh, he just now said don't worry about what he does to just focus on ourselves......OK
EUR/USD 40 S 1.32584 1.32576 0.8 3.20 0.00 4/9/2009 09:18 4/9/2009 09:24
USD/JPY 40 S 100.384 100.352 3.2 12.76 0.00 4/9/2009 09:06 4/9/2009 09:07
EUR/USD 40 S 1.32690 1.32636 5.4 21.60 0.00 4/9/2009 09:00 4/9/2009 09:01
EUR/USD 40 S 1.32782 1.32741 4.1 16.40 0.00 4/9/2009 08:52 4/9/2009 08:56
EUR/USD 40 B 1.32764 1.32814 5 20.00 0.00 4/9/2009 08:41 4/9/2009 08:44
EUR/USD 40 S 1.32734 1.32837 -10.3 -41.20 0.00 4/9/2009 08:40 4/9/2009 08:43
EUR/USD 40 B 1.32820 1.32714 -10.6 -42.40 0.00 4/9/2009 08:36 4/9/2009 08:40
USD/JPY 40 B 100.430 100.407 -2.3 -9.16 0.00 4/9/2009 08:30 4/9/2009 08:30
EUR/USD 40 B 1.32694 1.32708 1.4 5.60 0.00 4/9/2009 08:18 4/9/2009 08:20
EUR/USD 40 B 1.32722 1.32801 7.9 31.60 0.00 4/9/2009 08:09 4/9/2009 08:10 +4.6 $18.40
#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 » Thu Apr 09, 2009 2:57 pm

The e/u dropped before bed and my MT4 was still open (mini) account.
Ahhhh, lets try with a $ pip. I'll buy at support at the go long trigger.
Doh, That was fun, went down a little so I bought some more, then some more.....Finally sold @$5 to avg out.....Then added some more at $10 a pip.....When things evened out I sold it all and ended UP $10
LOL,,,,,LOL
Gotta get to bed.
TRO Thankyou fund +$10 more.
BAl. $87.82
Check this out.
Candle color baby!!!!! There may be something to the candle colors!!!! LOL
2079602786 2009.04.09 17:35 buy 0.10 eurusd 1.3262 0.0000 0.0000 2009.04.09 17:47 1.3205 0.00 0.00 0.00 -57.00
2079602925 2009.04.09 17:40 buy 0.10 eurusd 1.3255 0.0000 0.0000 2009.04.09 17:48 1.3215 0.00 0.00 0.00 -40.00
2079603006 2009.04.09 17:42 buy 0.30 eurusd 1.3253 0.0000 0.0000 2009.04.09 17:48 1.3217 0.00 0.00 0.00 -108.00
2079603083 2009.04.09 17:44 sell 0.50 eurusd 1.3239 0.0000 0.0000 2009.04.09 17:45 1.3238 0.00 0.00 0.00 5.00
2079603280 2009.04.09 17:45 sell 1.00 eurusd 1.3232 0.0000 0.0000 2009.04.09 17:47 1.3211 0.00 0.00 0.00 210.00
0.00 0.00 0.00 10.00
Closed P/L: 10.00
#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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Postby eudamonia » Thu Apr 09, 2009 3:25 pm

pro,

I am a big fan of averaging into my position. Just keep in mind that for the last 3 days we have been in a tight consolidation on the EURUSD. Eventually, we WILL break out of that consolidation (perhaps tomorrow, perhaps next week).

Be prepared to play the game a little differently when that happens. Good trading.

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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Postby noone22 » Fri Apr 10, 2009 9:50 am

eudamonia wrote:I am a big fan of averaging into my position.
we have been in a tight consolidation on the EURUSD


Ed,

Could you give defintions for 2 things:

avereging (of position)
(tight) consolidation

and how to eat them (I mean - trade).

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Postby prochargedmopar » Fri Apr 10, 2009 9:54 am

Ok, thought I'd get 50 to 100 pips.
Nope, It wasn't pretty.
The semafor on H1 rule was the one I didn't follow and it bit me in the butt.
I had some really good trades too and really do like the DTB A LOT.
After TRO told me to use the BASIC setup I took the first psych for 6.4 pips.
The 2nd Hit my stop at -10.4.
I think I'm gonna limit my stop to 5 with this.
Why give away pips when I could always re-enter on a stronger push to the line. If it looks weak, sit it out. The rest of the night was super slow. No more trades so I just read the boards and dosed in and out while watching candles.
Anyway, The Thankyou fund will only grow from now on. I will personally have to cover the losses. Wins go in/Losses come out of my pocket.
TRO Thankyou fund:
Same $87.82.

Only chart I can use till April 30, 2009.
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

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