ProchargedMopar's Trading Trilogy

[MightyOne]

Just throwing this out in the open.



If you enter on a 10 pip retracement with a 7 pip SL and an 11 pip target what is your draw down?

+77 less 14?
+66 less 21?

This is the system I used when trading live with a buddy from Jam.

If 10 pips is the retracement we are using then 15 pips is a real move.
If there is a small retracement on the chart of 15 pips then we have to ask for more than 10 pips.
Whatever we asked for was assumed to be 2/3 of a real move.
If we asked for 12 then 18 pips was a real move.

1. wait for a real move.
2. enter on a retracement
3. use a SL of half the largest of the small retracements.
4. target the smallest retracement size or multiples of the smallest.

[prochargedmopar]

Today's goal was NOT to lose pips.
Keep losses as small as possible.
Work on exits and holding trades.
Do NOT lose pips.

I f'd up twice by letting a couple take off.
The amount of pips I could have had was just INSANE if I'd followed exit rules.

Well,
+70.7

+2.09%

[prochargedmopar]

Just throwing this out in the open.



If you enter on a 10 pip retracement with a 7 pip SL and an 11 pip target what is your draw down?

+77 less 14?
+66 less 21?

This is the system I used when trading live with a buddy from Jam.

If 10 pips is the retracement we are using then 15 pips is a real move.
If there is a small retracement on the chart of 15 pips then we have to ask for more than 10 pips.
Whatever we asked for was assumed to be 2/3 of a real move.
If we asked for 12 then 18 pips was a real move.

1. wait for a real move.
2. enter on a retracement
3. use a SL of half the largest of the small retracements.
4. target the smallest retracement size or multiples of the smallest.

Hmmmm

I wonder if it's just a coincidence that you had 8 trades??
LOL

Thankyou.
I will study this pic and text tonight.
And then start looking for "real" moves.

[prochargedmopar]

Do you filter for time of day and speed/velocity?

That is hardly a well defined edge.

An edge involves entry and exit........how do you define/quantify "about", "reverse" and "breakout"

Success rate means nothing........PROFIT is everything

+.5% London session.


Razorboy,

Yes,
I look at the price action for a few minutes. Speed and Velocity are filtered by my senses.
LOL

I"m just razin ya dude.

BUT, we all know anything can happen at any time, And does.

[prochargedmopar]

1st attempt at taking a retrace of a "real" move.

I got in after a retrace from the bottom. Saw a pipish and said hold up, we gotta retest the retrace of the retrace.. heheh
Bailed with 1.2.

After the bounce i got back in....didn't like it so bailed with 1.9
I'm sitting in the bleachers at my son's football game and it got called because of lightning.
After making it back to the car I opened the netbook back up and say hey, now it's time.

It broke back up a little stronger.......huge, High vol. up move and could not resist the "free" pips...LOL

Nailed it short again for 9.5

Then came the "real" move of the retrace move....man, to many moves!!!

Took it for 9.3 pips. The m5 overlay was too big all at once so I just grabbed those pips even though I knew it was gonna make a run toward the bottom after a small retrace of the retrace of the upper retrace back to the extreme.......

Said that's enough.
Here is a couple pics of the sequence.
yeah, it's dropped another 14 as I type this but coming back up.
Gap time. LOL

Total 21.9 pips in less than 20 minutes while watching sons Football game.

EUR/JPY 1 S 130.050 129.957 9.3 1.04 0.00 10/1/2009 20:50 10/1/2009 20:52
EUR/JPY 1 S 130.048 129.953 9.5 1.06 0.00 10/1/2009 20:39 10/1/2009 20:41
EUR/JPY 1 S 129.940 129.921 1.9 0.21 0.00 10/1/2009 20:36 10/1/2009 20:39
EUR/JPY 1 S 129.927 129.915 1.2 0.13 0.00 10/1/2009 20:32 10/1/2009 20:32
4 21.9 2.44 0.00


1st entry


2nd and 3rd entry


Final entry, left a lot of pips on the table

[prochargedmopar]

BTW, I'm kicking myself for not taking the first retrace after the breakout...That was the 35 pips in 8 min. trade and the REAL, real move.

See it?

I always meander and then end up trading consolidation moves which are like hiccups. LOL

Here is an example of a "largest correction that does not return to the extreme"

[TheRumpledOne]

Just throwing this out in the open.



If you enter on a 10 pip retracement with a 7 pip SL and an 11 pip target what is your draw down?

+77 less 14?
+66 less 21?

This is the system I used when trading live with a buddy from Jam.

If 10 pips is the retracement we are using then 15 pips is a real move.
If there is a small retracement on the chart of 15 pips then we have to ask for more than 10 pips.
Whatever we asked for was assumed to be 2/3 of a real move.
If we asked for 12 then 18 pips was a real move.

1. wait for a real move.
2. enter on a retracement
3. use a SL of half the largest of the small retracements.
4. target the smallest retracement size or multiples of the smallest.

If you enter on a 10 pip retracement with a 7 pip SL and an 11 pip target what is your draw down?

+77 less 14?
+66 less 21?


I am not sure I understand. (I have read this 10 times.)

Where are you getting 77 and 66 from? I see 11 * 7 = 77. But I don't think that is "it".

[prochargedmopar]

If you enter on a 10 pip retracement with a 7 pip SL and an 11 pip target what is your draw down?

Using that example your RR would be 1.57:1
profit/loss ratio.

You are assuming that the next "real" move is going to break the previous high/low.

Better watch out for larger corrections.

This is what I've been wanting to do for a long time.
Ride the correction back into the breakout area so that if it stalls, I can still exit with profit or at LEAST B/E.

I'll check out the pick at work.
Need to think about this.
Not sure of the larger #'s yet.

[MightyOne]

Just throwing this out in the open.



If you enter on a 10 pip retracement with a 7 pip SL and an 11 pip target what is your draw down?

+77 less 14?
+66 less 21?

This is the system I used when trading live with a buddy from Jam.

If 10 pips is the retracement we are using then 15 pips is a real move.
If there is a small retracement on the chart of 15 pips then we have to ask for more than 10 pips.
Whatever we asked for was assumed to be 2/3 of a real move.
If we asked for 12 then 18 pips was a real move.

1. wait for a real move.
2. enter on a retracement
3. use a SL of half the largest of the small retracements.
4. target the smallest retracement size or multiples of the smallest.

If you enter on a 10 pip retracement with a 7 pip SL and an 11 pip target what is your draw down?

+77 less 14?
+66 less 21?


I am not sure I understand. (I have read this 10 times.)

Where are you getting 77 and 66 from? I see 11 * 7 = 77. But I don't think that is "it".

I am just referring to possible winners vs possible losers where winners are +11 and losers are -7.
It was meant as an example as I do not care to give play by play atm.

[prochargedmopar]

Just throwing this out in the open.



If you enter on a 10 pip retracement with a 7 pip SL and an 11 pip target what is your draw down?

+77 less 14?
+66 less 21?

This is the system I used when trading live with a buddy from Jam.

If 10 pips is the retracement we are using then 15 pips is a real move.
If there is a small retracement on the chart of 15 pips then we have to ask for more than 10 pips.
Whatever we asked for was assumed to be 2/3 of a real move.
If we asked for 12 then 18 pips was a real move.

1. wait for a real move.
2. enter on a retracement
3. use a SL of half the largest of the small retracements.
4. target the smallest retracement size or multiples of the smallest.

If you enter on a 10 pip retracement with a 7 pip SL and an 11 pip target what is your draw down?

+77 less 14?
+66 less 21?


I am not sure I understand. (I have read this 10 times.)

Where are you getting 77 and 66 from? I see 11 * 7 = 77. But I don't think that is "it".

I am just referring to possible winners vs possible losers where winners are +11 and losers are -7.
It was meant as an example as I do not care to give play by play atm.

Yeah, no play by play required.
The boxes speak volumes.

+72.7 total today.
+3.25%

I tried the retrace thingy but will have to keep working on it.
My main concern at this point is NOT losing money.
I reverted back to trading the reversal of breakouts even though the direction of trend trades were in the back of my mind. Doh.
My 2nd to last trade I went bonkers when g/u broke against me.
Sigh.
After getting so many wins in a row (only the -.4 during news) I get pretty up tight about continued success.

I let it break about 20 pips and added a couple, ah, few positions...+15 pips right there on that "failed" trade.

Gotta figure out what it is that won't allow me to take a 5 to 10 pip loss somtimes.

GBP/USD 1 B 1.58897 1.58932 3.5 0.35 0.00 10/2/2009 11:06 10/2/2009 11:07
GBP/USD 2 S 1.59320 1.59155 16.5 3.30 0.00 10/2/2009 09:52 10/2/2009 09:54
GBP/USD 2 S 1.59309 1.59155 15.4 3.08 0.00 10/2/2009 09:52 10/2/2009 09:54
GBP/USD 2 S 1.58997 1.59155 -15.8 -3.16 0.00 10/2/2009 09:48 10/2/2009 09:54
GBP/USD 2 S 1.59056 1.59155 -9.9 -1.98 0.00 10/2/2009 09:49 10/2/2009 09:54
GBP/USD 2 S 1.59284 1.59155 12.9 2.58 0.00 10/2/2009 09:51 10/2/2009 09:54
GBP/USD 2 S 1.58789 1.58766 2.3 0.46 0.00 10/2/2009 09:31 10/2/2009 09:33
EUR/JPY 2 S 129.588 129.515 7.3 1.64 0.00 10/2/2009 09:18 10/2/2009 09:21
EUR/JPY 2 B 129.365 129.389 2.4 0.54 0.00 10/2/2009 09:09 10/2/2009 09:10
EUR/JPY 1 B 129.478 129.474 -0.4 -0.04 0.00 10/2/2009 08:45 10/2/2009 08:48
GBP/USD 1 S 1.58548 1.58512 3.6 0.36 0.00 10/2/2009 08:42 10/2/2009 08:43
GBP/USD 1 B 1.58144 1.58198 5.4 0.54 0.00 10/2/2009 08:34 10/2/2009 08:34
GBP/USD 2 B 1.58724 1.58743 1.9 0.38 0.00 10/2/2009 03:45 10/2/2009 03:47
GBP/USD 2 B 1.58739 1.58783 4.4 0.88 0.00 10/2/2009 03:27 10/2/2009 03:32
EUR/JPY 2 S 130.298 130.285 1.3 0.29 0.00 10/2/2009 02:23 10/2/2009 02:33
EUR/JPY 1 S 130.050 129.957 9.3 1.04 0.00 10/1/2009 20:50 10/1/2009 20:52
EUR/JPY 1 S 130.048 129.953 9.5 1.06 0.00 10/1/2009 20:39 10/1/2009 20:41
EUR/JPY 1 S 129.940 129.921 1.9 0.21 0.00 10/1/2009 20:36 10/1/2009 20:39
EUR/JPY 1 S 129.927 129.915 1.2 0.13 0.00 10/1/2009 20:32 10/1/2009 20:32
30 72.7 11.66 0.00