ProchargedMopar's Dart Dynasty

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prochargedmopar
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Re: ProchargedMopar's Dart Dynasty

Postby prochargedmopar » Fri Apr 08, 2016 9:28 am

The only pair I'm watching that had a whipsaw today was our beloved GU.
Historically (SH)-it happens. :mrgreen:

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Gotta love it having a little golden nugget sleeping on your chest while still being able to talk trading!!

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Had to leave work @lunch today to come home and babysit.
Either the wife misses a day and losses $440 or i miss 1/2 a day and lose $100.
No brainer. This aint trading.
lol. It's life.
#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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Re: ProchargedMopar's Dart Dynasty

Postby MightyOne » Fri Apr 08, 2016 3:24 pm

prochargedmopar wrote:Im learning something about myself.

If I go for big swings (acceptable RR) then I commit to being RIGHT.
This does NOT turn out well when I'm wrong.

When I scalp for small pips I can lose gracefully but my losses are still almost always bigger than my winners.
It's hard has hell to scalp for 5-10 with a 3-7 pip SL.

Shiit.

I gotta think about what I can do.


Dollars, PRO, everything is dollars risked and dollars won; you are not trying to make 10 pips, you are trying to make whatever dollars 10 pips amounts to.
If the minimum daily range is 72 pips then you can make $9 sized at $1 (ONES), $0.50 (TWOS), $0.25 (FOURS), or even $0.125 (EIGHTS).

SIXTEENS you might risk 2 to 4 macros: 3 to 5 with EIGHTS, 4 to 6 with FOURS, 5 to 7 with TWOS, 6 to 8 with ONES (aka "pips").

If you only want 10 pips and the minimum range is 72 then all you are doing is taking the excess range and creating a catastrophic loss scenario when trading for ONES.

Don't worry about ratios, take what you can.
If you spend your time minimizing risk and trading to daily goals then the numbers will work in your favor.

Forget what ICTrickery is saying, stick to horizontal lines and manage your trades well.

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Re: ProchargedMopar's Dart Dynasty

Postby prochargedmopar » Fri Apr 08, 2016 4:32 pm

MightyOne wrote:
prochargedmopar wrote:Im learning something about myself.

If I go for big swings (acceptable RR) then I commit to being RIGHT.
This does NOT turn out well when I'm wrong.

When I scalp for small pips I can lose gracefully but my losses are still almost always bigger than my winners.
It's hard has hell to scalp for 5-10 with a 3-7 pip SL.

Shiit.

I gotta think about what I can do.


Dollars, PRO, everything is dollars risked and dollars won; you are not trying to make 10 pips, you are trying to make whatever dollars 10 pips amounts to.
If the minimum daily range is 72 pips then you can make $9 sized at $1 (ONES), $0.50 (TWOS), $0.25 (FOURS), or even $0.125 (EIGHTS).

SIXTEENS you might risk 2 to 4 macros: 3 to 5 with EIGHTS, 4 to 6 with FOURS, 5 to 7 with TWOS, 6 to 8 with ONES (aka "pips").

If you only want 10 pips and the minimum range is 72 then all you are doing is taking the excess range and creating a catastrophic loss scenario when trading for ONES.

Don't worry about ratios, take what you can.
If you spend your time minimizing risk and trading to daily goals then the numbers will work in your favor.

Forget what ICTrickery is saying, stick to horizontal lines and manage your trades well.


I'm gonna have to go back and read Ideas thread and look @ what your saying.
Simpler for me is OPM/Space.

Take trade...exit.
Increase stop OR lot size on next trade.
repeat until % target is hit.
Reset.

Everything else is mumbo jumbo.
I just have to find some trades that are 2-3 OR 4 to 1.
Couple of those in a row would make everything better. LOL

This morning I let the kids figure out the PLAN of attack.
I listened quietly nodding my head. :twisted:
Lets see how things turn out. LOL



And one of the results.
SL hit
:mrgreen:

#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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Re: ProchargedMopar's Dart Dynasty

Postby prochargedmopar » Fri Apr 08, 2016 5:19 pm

Yeah buddy,

I got a couple new toys for my weightroom today.
Were delivered after the lake escapade.

Now it's off to work Fri. and Sat.
AIB inspection next Thur. so we have to work cleaning up this weekend....BLAH.
Slavery sucks.
Especially when it is CHOSEN!!

#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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Re: ProchargedMopar's Dart Dynasty

Postby prochargedmopar » Fri Apr 08, 2016 5:38 pm

Yesterday amazon delivered some Mahogany patterned rubber puzzle mats.
Kinda tacky BUT,

Now that the little snuggy nuggin is crawling we don't want her to bump her head on the concrete if she falls two steps down.

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Yeah, I've got weightlifting equipment scattered everywhere in MY WORLD.
:shock:
#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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Re: ProchargedMopar's Dart Dynasty

Postby prochargedmopar » Sat Apr 09, 2016 5:40 pm

Out of 25 possible 10 pip breakouts this week ONLY 2 were losses.
That is 23/2 win/loss.
Each line on chart is 10 pips movement.

Time and Price ONLY.
My eyes canNOT deceive me.

AJ 10 of 10.

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Ucad 5 of 5

Ucad10+.png
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NU 4 of 5

NU10+.png
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GU 4 of 5

GU10+.png
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#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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prochargedmopar
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Re: ProchargedMopar's Dart Dynasty

Postby prochargedmopar » Sat Apr 09, 2016 9:03 pm

Winners MUST be bigger than losers.
The above post shows the opposite which will NOT work.

Must find 3:1 or better.

Hmmmmmm
#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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Re: ProchargedMopar's Dart Dynasty

Postby prochargedmopar » Sat Apr 09, 2016 9:57 pm

What the crap?

I post the above and then hit the refresh button on the Ideas thread to see this.

"MightyOne"]Why do you get hung up on trading for ONES ("pips")?

Each line is x amount of dollars, that is all that you are doing when you are trading for pips.

EACH LINE IS X AMOUNT OF DOLLARS! No one, not even you, cares about how many pips you make.


I forget who I was listening to at the time but a fund manager was asked what is the single most important thing that a new trader can do to become profitable and his answer was to take whatever size they are trading at and cut it in half...and probably cut it in half again.

Do more with less.
Make your money by increasing your lot size not by maximizing your pip gains.
quote="MightyOne"]Why do you get hung up on trading for ONES ("pips")?

Each line is x amount of dollars, that is all that you are doing when you are trading for pips.

EACH LINE IS X AMOUNT OF DOLLARS! No one, not even you, cares about how many pips you make.

Do more with less.
Make your money by increasing your lot size not by maximizing your pip gains.
Last edited by prochargedmopar on Sat Apr 09, 2016 10:08 pm, 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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Re: ProchargedMopar's Dart Dynasty

Postby prochargedmopar » Sat Apr 09, 2016 10:06 pm

I have errored greatly for years.

IMG_20160409_170357.jpg
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#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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Re: ProchargedMopar's Dart Dynasty

Postby MightyOne » Sat Apr 09, 2016 11:25 pm

prochargedmopar wrote:I have errored greatly for years.

IMG_20160409_170357.jpg


Behind every pearl of wisdom is a mountain of mistakes.

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