The most important things to me are:
1) Position sizing: how fast do I gain or lose lines
2) Money management: how much do I gain or lose at each line
3) Consistency: how often do I reach a specific goal within the allotted time
4) Ideas: what can I expect based on unchanging truths
The most important technical skill is telling the difference between a pattern and a breakout.
What does a breakout look like?
The pattern is a triangle and a triangle is congestion so a breakout looks like price moving away from congestion.
At the first blue x you see an inside bar, a doji, and then a breakout.
At the second blue x you see a stall with a small body and long upper wick, the next bar peaks its head over the previous bars high and then there is a low breakout.
At the third blue x you see a long wick filling out more of the body of the cone. The up and down is price falling into a lower cone that is within the cone
Price broke to new lows and entered the cone, failing to maintain new lows, so price is HIGHER than something.
The lines are just 15 degree angles that were dropped on the breakouts marked by the blue x.
It is not exactly how I would mark the chart but I just wanted to show you that you don't need to get fancy.
Just because you see a cone that doesn't mean that you understand it; you have to watch the price action every day to learn its secrets.
ProchargedMopar's Dart Dynasty
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- prochargedmopar
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Re: ProchargedMopar's Dart Dynasty
MightyOne wrote:The most important things to me are:
1) Position sizing: how fast do I gain or lose lines
2) Money management: how much do I gain or lose at each line
3) Consistency: how often do I reach a specific goal within the allotted time
4) Ideas: what can I expect based on unchanging truths
The most important technical skill is telling the difference between a pattern and a breakout.
What does a breakout look like?
The pattern is a triangle and a triangle is congestion so a breakout looks like price moving away from congestion.
At the first blue x you see an inside bar, a doji, and then a breakout.
At the second blue x you see a stall with a small body and long upper wick, the next bar peaks its head over the previous bars high and then there is a low breakout.
At the third blue x you see a long wick filling out more of the body of the cone. The up and down is price falling into a lower cone that is within the cone
Price broke to new lows and entered the cone, failing to maintain new lows, so price is HIGHER than something.
The lines are just 15 degree angles that were dropped on the breakouts marked by the blue x.
It is not exactly how I would mark the chart but I just wanted to show you that you don't need to get fancy.
Just because you see a cone that doesn't mean that you understand it; you have to watch the price action every day to learn its secrets.
Just noticed this today,
I'm digesting it.
AJ heading home.
Last edited by prochargedmopar on Tue May 10, 2016 4:59 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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- prochargedmopar
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Re: ProchargedMopar's Dart Dynasty
86.00 in the cards?
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- prochargedmopar
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Re: ProchargedMopar's Dart Dynasty
Opportunity;
Missed limit by 11 pips.
If I was forced to envision a cone I'd say price is oversold.
Missed limit by 11 pips.
If I was forced to envision a cone I'd say price is oversold.
#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
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
prochargedmopar wrote:Opportunity;
Missed limit by 11 pips.
Screenshot_2016-05-10-11-56-35.png
If I was forced to envision a cone I'd say price is oversold.
Could of used several orders at various levels.
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Re: ProchargedMopar's Dart Dynasty
Above one thing,
Below another thing.
Below another thing.
#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
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
Must hold above this level for a swing.
Otherwise, 800 pips lower will be a nice entry.
Otherwise, 800 pips lower will be a nice entry.
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- aliassmith
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Re: ProchargedMopar's Dart Dynasty
Its still possible to make money trading
Six 8's..........
Six 8's..........
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Re: ProchargedMopar's Dart Dynasty
aliassmith wrote:Its still possible to make money trading
Six 8's..........
Lot size is still the biggest and most important factor.
Your 47 pips.....$800+
My 80 pips.....$7-
#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
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
prochargedmopar wrote:aliassmith wrote:Its still possible to make money trading
Six 8's..........
Lot size is still the biggest and most important factor.
Your 47 pips.....$800+
My 80 pips.....$7-
I don't see how lot size can be the biggest factor in trading profitably. I believe knowing when to exit is probably the most important thing followed by money management.
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