ProchargedMopar's Trading Trilogy

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

dchappy
rank: 500+ posts
rank: 500+ posts
Posts: 828
Joined: Sat Feb 14, 2009 8:48 pm
Reputation: 3
Gender: Male

Postby dchappy » Wed Jul 29, 2009 9:55 am

razorboy wrote:Pro,
I say this as someone with no vested interest or agenda......


For your own sanity, enough with this already, its like watching a man put his left hand in a manual meat grinder and turn the handle with his right hand.

You need to find yourself a winning system - there are tons out there. Yes, a system, that gives you signals to enter and exit. May even have a squigly line god forbid. You need to know what it is like to look at a screen in a systematic fashion. It may mean that sometimes make 2 trades in 3 days and lose both, but that is part of the game

There is no valor in trading with just horizontal lines or any TRO indicator if you do not WIN. I think you can no longer see the forest for the trees. The point of trading is not the dogmatic adherence to a particular trading style (look ma, no squiggles). The point of trading is to WIN!!!! Your ultimate goal should be "what can i do to take razor's, mighty's, E/Spip's, TRO's and everyone one else's money away from them". As long as it is legal (and even then) who cares if it uses an MA cross, RSI or price alone or even sunspots as long as it is profitable............

Ya, I sound like a self righteous harpie, but..................

DO THE QUARTER EXERCISE!!!! START UNDERSTANDING PROBABILITIES!!! Find a winning set up!!!! Do it for your own financial sanity and future. You can stack the deck in your favor if you know what you are doing.....................

Now figure it out and stop giving me your pips...............


prochargedmopar wrote:es/pip,

I did. That was an end of NY session trade just before bed.
I lost $349 of a $540 account using $1 pips.....I'd say that pretty much blew it for about 2 hrs. trading....

Yes, I add positions after a loss, most times.
Not one to really move stops but I did on a couple today....
after getting down a couple hundred I got greedy on a couple.....I was +144 on one with a "few" entries going....ended up being stopped at -95 on all positions......Also Was +84 on another trade but ended up closing at 2.1.

Not a good day......e/j was tanking and I continued to buy, buy, buy......
Crazy, crazy, crazy.....I did try to sell a couple times but would get stopped out at -10.2......
fear of having it reverse after being so far down.....but I'm not sure why I'll continue to step in front of the train......weird.

I've got to figure that out because If I only took trades with prevailing trend, with the entries I get most times I could scalp the crud out of it. I usually see some pips but then because I'm going against trend it turns and doesn't come back. Well, maybe a weeks or so. LOL

Hmmmmm


Today,
Not so good.
Asian session (-2.8 ) plus the one trade (63) while I was sleeping.

EUR/JPY 20 S 134.189 134.125 6.4 0.00 7/28/2009 20:51 7/28/2009 20:59
EUR/JPY 20 S 134.183 134.125 5.8 0.00 7/28/2009 20:53 7/28/2009 20:59
EUR/JPY 20 B 134.235 134.189 -4.6 0.00 7/28/2009 20:49 7/28/2009 20:51
EUR/JPY 20 S 134.153 134.230 -7.7 0.00 7/28/2009 20:49 7/28/2009 20:49
EUR/JPY 20 B 133.705 133.783 7.8 0.00 7/28/2009 19:09 7/28/2009 19:10
EUR/JPY 20 S 133.703 133.706 -0.3 0.00 7/28/2009 19:07 7/28/2009 19:09
EUR/JPY 20 S 133.598 133.700 -10.2 0.00 7/28/2009 19:05 7/28/2009 19:06
EUR/JPY 10 B 133.371 134.001 63 0.00 7/28/2009 12:13 7/28/2009 17:17
150 60.2 0.00
He's right PRO ...You have the passion ...now find the proceedure. :smt002

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
monolisa
rank: 150+ posts
rank: 150+ posts
Posts: 351
Joined: Fri Jun 12, 2009 11:38 am
Reputation: 0
Location: All Quiet on the Western Front
Gender: None specified

Postby monolisa » Wed Jul 29, 2009 12:11 pm

double post - see next post.
Last edited by monolisa on Wed Jul 29, 2009 12:14 pm, edited 1 time in total.
"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

User avatar
monolisa
rank: 150+ posts
rank: 150+ posts
Posts: 351
Joined: Fri Jun 12, 2009 11:38 am
Reputation: 0
Location: All Quiet on the Western Front
Gender: None specified

Postby monolisa » Wed Jul 29, 2009 12:12 pm

Some interesting comments from a trader called Mike:



The majority of people in the forum will not agree with what I am about to say. Does this make them wrong? My answer is both a yes, and a no.

Yes, I think they are wrong if they disagree. Am I entitled to my opinion? Sure, and I also respect people that disagree with me. But, I also believe what I am saying to be absolutely true, and I think if you disagree with me, and you think indicators are the answer, then you are wrong.

But -- also a "no", because if you had come to me years ago and beat me over the head nonstop and tried your best with nothing but the best intentions to shove this information down my throat, it would not have worked. I would not have listened. I may have even agreed with you, I may have tried to copy you, but in the end I would not have listened. Maybe my lack of listening was not my intent, but it is what would have happened.

Human beings need to learn for themselves. Copying only gets us so far, we must do it for ourselves to truly understand it and appreciate it. It is the experience that counts more than anything else. And by that is my final answer, which is that people are not right or wrong in a black or white kind of way. There is a lot of gray.

Let me put this another way. How many of you have "learned your lessons" when it comes to debt, like credit card debt. Ok, how many of you tried your best to instill this into your children, your friends, and family members -- to please, please not repeat your mistakes but learn from them. Ok, how many learned vs. how many went right on and made all the same mistakes you did. Now, I hope you see my point.


Indicators are not the answer.
Indicators are not the solution.
?Indicators are not the holy grail.
?Indicators are not the reason you lose money.
?Indicators are not the reason you make money.
?Indicators are not why you got stopped out.
?Indicators are not why you hit your target.
?Indicators are not what told you to enter a trade.
?Indicators are not what told you to exit a trade.
?Indicators are not the answer.
Don't believe me? Disagree with me? No problem. Trading is not being right or wrong. Trading is about developing your own method, your own "system". And more than anything else, trading is about knowing yourself.

So if indicators are not all of these things, then what is?


?You are the answer.
?You are the solution.
?You are the holy grail.
?You are the reason you lose money.
?You are the reason you make money.
?You are why you got stopped out.
?You are why you hit your target.
?You are what told you to enter a trade.
?You are what told you to exit a trade.
?You are the answer.
Does this make sense to you? Does it kind of make sense? Does it make no sense at all? Do you believe it, do you question it? Are you having an "ah-ha!" moment, are you cursing my name?

The point I am trying to reveal to you is that you are controlling what is happening, not an indicator.

Are indicators valuable? Do I use indicators? Do professional floor traders who make millions of dollars a day use indicators? Yes. But the indicators are being used only as a small supplement to you -- your mind -- and that is what is so difficult to learn. Indicators can be useful, but only when used in the right context and by the right person with the right experience.

If you are questioning whether or not you are the right person with the right experience to be able to use indicators to help your trading, and not hurt it -- then the answer is no, you aren't. You will know it when you are. It will be one of the greatest moments of your entire trading career when you realize this, everything will change, everything will be so clear.

Mike

http://blog.bigmiketrading.com/

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

User avatar
es/pip
rank: 1000+ posts
rank: 1000+ posts
Posts: 2898
Joined: Wed Jan 21, 2009 9:28 pm
Reputation: 0
Gender: None specified

Postby es/pip » Wed Jul 29, 2009 1:01 pm

When i first started trading, i would have the more experienced traders look at my trades when i had a bad day. They would look and say to me, wtf is this? what are you doing? That is just plain stupid. After a while i stopped doing stupid things bec i got tired of being called stupid.

The point of the above is not me calling you stupid, but that everyone at times makes mistakes. The ones that can recognize them and correct them will move forward.

As razor said above, i have watched this roller coaster from you over and over again.

u can do this but you are doing it wrong.

When a person builds a house they first have to lay the foundation. You are trying to build one on no foundation at all. I have seen you try this strat for a week and then switch to a different one the next, combine a couple different things and try that and then go back to scalping over and over again.

i know that you can do this, as i have seen the determination that you have to make it work

you need to start over

you need 3 things

1. an edge------- pick one and stay with it do not change---- there are plenty on this site. you are back and forth so much on different things it makes my head spin

2. confidence---(building the foundation)---- start at a $ per pip that has no positive or negative bearing on your account. You need to build a foundation that convinces yourself that you know what you are doing. This is not done in a day or a week---- its going to take some time. You need to trade small so you have no fear and can just trade. Prove to yourself and your mind that you know what you are doing. Then pick a mm guideline that fits with your emotional makeup. SLOWLY build you size based on your profits. A lot of traders try something for a week or so and then jump there size up too quick and mentally cannot handle it and then wonder what happened. It's like walking up to a Pitbull and kicking it in the nads just to see what will happen. When the Pitbull tears the persons arms off, the person says " why did this happen to me".

3. no emotions at all---------- this comes with time. you have to retrain your mind that the money in your account has no value at all and is just a number. This is done by accomplishing the two steps above.



i am not saying that a person cannot take 500 and turn it into a million in a year. But, if a person is able to do that then they understand the 3 things above.

i hope that u r able to take the time and do what is needed to make it work
Bend over and assume the position for another 4 years of hope and change.

User avatar
razorboy
rank: 500+ posts
rank: 500+ posts
Posts: 627
Joined: Tue Oct 21, 2008 2:06 am
Reputation: 0
Location: Toronto
Gender: None specified
Contact:

Postby razorboy » Wed Jul 29, 2009 1:03 pm

I fully disagree. Without my indicators, I would be nothing..

Just joking.

Takes while to learn this though


monolisa wrote:Some interesting comments from a trader called Mike:



The majority of people in the forum will not agree with what I am about to say. Does this make them wrong? My answer is both a yes, and a no.

Yes, I think they are wrong if they disagree. Am I entitled to my opinion? Sure, and I also respect people that disagree with me. But, I also believe what I am saying to be absolutely true, and I think if you disagree with me, and you think indicators are the answer, then you are wrong.

But -- also a "no", because if you had come to me years ago and beat me over the head nonstop and tried your best with nothing but the best intentions to shove this information down my throat, it would not have worked. I would not have listened. I may have even agreed with you, I may have tried to copy you, but in the end I would not have listened. Maybe my lack of listening was not my intent, but it is what would have happened.

Human beings need to learn for themselves. Copying only gets us so far, we must do it for ourselves to truly understand it and appreciate it. It is the experience that counts more than anything else. And by that is my final answer, which is that people are not right or wrong in a black or white kind of way. There is a lot of gray.

Let me put this another way. How many of you have "learned your lessons" when it comes to debt, like credit card debt. Ok, how many of you tried your best to instill this into your children, your friends, and family members -- to please, please not repeat your mistakes but learn from them. Ok, how many learned vs. how many went right on and made all the same mistakes you did. Now, I hope you see my point.


Indicators are not the answer.
Indicators are not the solution.
?Indicators are not the holy grail.
?Indicators are not the reason you lose money.
?Indicators are not the reason you make money.
?Indicators are not why you got stopped out.
?Indicators are not why you hit your target.
?Indicators are not what told you to enter a trade.
?Indicators are not what told you to exit a trade.
?Indicators are not the answer.
Don't believe me? Disagree with me? No problem. Trading is not being right or wrong. Trading is about developing your own method, your own "system". And more than anything else, trading is about knowing yourself.

So if indicators are not all of these things, then what is?


?You are the answer.
?You are the solution.
?You are the holy grail.
?You are the reason you lose money.
?You are the reason you make money.
?You are why you got stopped out.
?You are why you hit your target.
?You are what told you to enter a trade.
?You are what told you to exit a trade.
?You are the answer.
Does this make sense to you? Does it kind of make sense? Does it make no sense at all? Do you believe it, do you question it? Are you having an "ah-ha!" moment, are you cursing my name?

The point I am trying to reveal to you is that you are controlling what is happening, not an indicator.

Are indicators valuable? Do I use indicators? Do professional floor traders who make millions of dollars a day use indicators? Yes. But the indicators are being used only as a small supplement to you -- your mind -- and that is what is so difficult to learn. Indicators can be useful, but only when used in the right context and by the right person with the right experience.

If you are questioning whether or not you are the right person with the right experience to be able to use indicators to help your trading, and not hurt it -- then the answer is no, you aren't. You will know it when you are. It will be one of the greatest moments of your entire trading career when you realize this, everything will change, everything will be so clear.

Mike

http://blog.bigmiketrading.com/

Lis
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

http://thejoshkerbelproject.com/

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Jul 29, 2009 1:11 pm

Indicators are tools.
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.

User avatar
razorboy
rank: 500+ posts
rank: 500+ posts
Posts: 627
Joined: Tue Oct 21, 2008 2:06 am
Reputation: 0
Location: Toronto
Gender: None specified
Contact:

Postby razorboy » Wed Jul 29, 2009 1:17 pm

Who are you calling a tool

"I pity the tool" - Mr T
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

User avatar
Gert Frobe
rank: 150+ posts
rank: 150+ posts
Posts: 177
Joined: Fri Jun 30, 2006 9:51 pm
Reputation: 0
Location: Arlington, Texas
Real name: ben arata
Gender: Male

Postby Gert Frobe » Wed Jul 29, 2009 1:58 pm

razor that was to funny.

User avatar
prochargedmopar
rank: 5000+ posts
rank: 5000+ posts
Posts: 5544
Joined: Sat Dec 20, 2008 6:07 am
Reputation: 8
Location: Granbury, TX
Gender: Male
Contact:

Postby prochargedmopar » Wed Jul 29, 2009 4:31 pm

Thankyou to all.

Some VERY good posts we have here.
Some VERY good ideas to remedy the situation.

I know what I want to do with the market.
I see the profit that is in your pockets.

Yes, I've got an issue with loss.
We'll(EDIT: We my *s#, It better be I'll) get it fixed.

OK,
The largest correction that does not return to the extreme, is not a correction.

I wanted to go long e/j off the bottom but had 2 stops hit prior that should not have been take.
It would be nice to have e/j come back to within 20 of its low so I could use a 25 pip stop and go to sleep on a +50 trade.

Oh well, we'll see what happens when I wake.
Today was not as good, gotta get back into the groove AND fix the things mentioned above.

Anyway, here are NY's trades.
The first 3 at the bottom were taken right when I got off work on the drive home.

If you notice I went short e/j looking at the 15M chart. It was due for at least a 50% retrace which would have been about 50 pips.....
I did not hold because my first stab at it got stopped out so when the account got back to B/E, I exited thinking I would just start fresh.
If you notice e/j dropped right at 100 pips over the next 5 hrs that I sat at the computer.....
I got diddly.
ONE THING< IF I HELD THE TRADES I ENTERED FOR A "LITTLE" MORE PROFIT THE LOSSES WOULD DEFINITELY CAUSE ME GREAT LAUGHTER!!!
Hmmmmmmmm


EUR/JPY 20 B 133.532 133.560 2.8 5.90 0.00 7/29/2009 11:06 7/29/2009 11:12
EUR/JPY 20 B 133.575 133.463 -11.2 -23.59 0.00 7/29/2009 11:03 7/29/2009 11:06
EUR/JPY 20 B 133.666 133.554 -11.2 -23.58 0.00 7/29/2009 11:00 7/29/2009 11:02
EUR/JPY 20 B 133.709 133.738 2.9 6.11 0.00 7/29/2009 10:23 7/29/2009 10:24
EUR/JPY 20 S 133.626 133.570 5.6 11.83 0.00 7/29/2009 09:24 7/29/2009 09:30
EUR/JPY 20 S 133.873 133.855 1.8 3.80 0.00 7/29/2009 09:08 7/29/2009 09:08
EUR/JPY 20 S 133.777 133.765 1.2 2.53 0.00 7/29/2009 09:02 7/29/2009 09:02
EUR/JPY 20 S 134.198 134.100 9.8 20.62 0.00 7/29/2009 07:34 7/29/2009 07:47
EUR/JPY 20 S 134.078 134.230 -15.2 -31.97 0.00 7/29/2009 07:32 7/29/2009 07:33
EUR/JPY 20 B 134.234 134.283 4.9 10.32 0.00 7/29/2009 07:21 7/29/2009 07:21

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

User avatar
prochargedmopar
rank: 5000+ posts
rank: 5000+ posts
Posts: 5544
Joined: Sat Dec 20, 2008 6:07 am
Reputation: 8
Location: Granbury, TX
Gender: Male
Contact:

Postby prochargedmopar » Wed Jul 29, 2009 4:42 pm

Rule:
Do not chase price.
Well, look here, it's already up 60 pips and never gave me a chance to get in.........

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

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”