The idea's we trade by, so we never lose again. p2. The students become the masters

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Re: The idea's we trade by, so we never lose again. p2. The students become the masters

Postby forexbob » Sun Jun 19, 2016 12:20 pm

v8power wrote:
Jalarupa wrote:
v8power wrote:Ja would you still agree with this post

"This is all that you really need to know to draw a triangle:

There are only two types of triangles and they are the CONE & PENNANT.

BOTH the CONE & PENNANT exist at the same time because a TRIANGLE is nothing more than TWO CHANNELS that cannot agree on direction.

While they are two channels, thus technically the same, they are different in spirit.

A pennant will generally be quiet with a false break or two and re-entry.

A cone will generally be extremely noisy with multiple high/low breakouts and an intense desire to bungee dive in the opposite direction and snap back yet again...it will often leave you feeling mentally exhausted just looking at it.

Each triangle will have its own complex pattern but somehow adhere to its basic shape of two lines pointing in opposite directions.

The #1 rule to drawing triangles is NOT TO INCLUDE THE BREAKOUT as part of the triangle.
You think including the BO at part of the triangle makes the pattern look pretty? It is pretty, pretty stupid! :lol:

The #2 rule is to EITHER draw the pennant OR the cone, not both; it looks more like a...what is the spirit of this triangle (cone or pennant?).

THE #3 rule is NOT TO USE STEEP ANGLES when drawing triangles.
There is another word for a steep angle, we call it...A BREAKOUT...& breakouts are not part of triangles.

9 times out of 10 if you draw a triangle and it has no false breaks then you drew it incorrectly.

HOW DO WE TRADE A TRIANGLE?

You know how to trade a BDP because you know the 'spirit' of the BDP is to point in the direction of profit.

You know how to trade a wickdoll because it points in the direction of loss.

So looking at a triangle you can also feel its spirit and internally know what to do.
In the last picture you are short and you see many new lows forming the bottom of what looks to be a cone.
You get a massive momo to the breakout and instant reversal (very cone like behavior) followed by yet another low break and momo reversal.
Next we get multiple pivot breaks followed by a low break...we know the spirit of the cone, we know where this is going"


Yes, this post sums it up wonderfully by the master himself and it's one of my most important posts for what I do... Although I may deviate in my interpretation of the rules from time to time... The results that I get are good enough that I am happy with my interpretation... But yeah the break out break in system is a wonderful to exploit within a cone...Makes trading extremes super easy


Ok cool. Just put about 30 pages together of idea's and charts or angles and cones from you and MO, based off that. So I have my cheat sheet now :mrgreen:


yep,

and thanks to you all.

just feel myself still as a student of the students :) (and of the masters ofcourse)

Jala, little question:

a number of pages ago you showed a screenshot of your indicators.
one of them manta_average_price.....

is that one who shows a line where your avg price is (such a indi i have), or is it different??
Last edited by forexbob on Sun Jun 19, 2016 12:41 pm, edited 1 time in total.

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Re: The idea's we trade by, so we never lose again. p2. The students become the masters

Postby Jalarupa » Sun Jun 19, 2016 12:35 pm

Yes Bob,

That's the same one... But I know FX Synergy are releasing a bunch of new indicators with their 2.0 update in a few weeks that may make that indi obsolete...

Its a very good averages line indicator...

On the note of FX Synergy - I think it would be cool to maybe setup a hangouts or skype session once the new version lands, so that we can discuss and venture into the new software together... just a thought, if you are interested... I will probably do a few video's as well... but I'm thinking shared learning may just speed things up?
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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Re: The idea's we trade by, so we never lose again. p2. The students become the masters

Postby forexbob » Sun Jun 19, 2016 12:52 pm

Jalarupa wrote:Yes Bob,

That's the same one... But I know FX Synergy are releasing a bunch of new indicators with their 2.0 update in a few weeks that may make that indi obsolete...

Its a very good averages line indicator...

On the note of FX Synergy - I think it would be cool to maybe setup a hangouts or skype session once the new version lands, so that we can discuss and venture into the new software together... just a thought, if you are interested... I will probably do a few video's as well... but I'm thinking shared learning may just speed things up?


thanks Jala.... i still have to setup things regarding fxsynergy a few indi's i like to see etc. could be nice to have something shared among fxsynergy users.

the last half year i have been solely trading from my ipad, so no indi's and just drawing some horizontal lines
and holding my fingers in a V in front of the screen to help me see a triangle, cone or whatever you want to call them.

my biggest problem the last half year, is distraction from family members:
can you do this...
can you bring me to....
etc.
being at home, they don't see this as work.
(they still think along 9-5...leaving at 07:00 and returning at 19:00 is work)
yeah dad is in his 'office' sitting behind his compu...etc. etc.

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Re: The idea's we trade by, so we never lose again. p2. The students become the masters

Postby Jalarupa » Sun Jun 19, 2016 12:57 pm

I hear you... Lol it's very difficult to trade from home... I'm thinking I'll get an office one day just so i I can "go to work..." and get out of the distraction that comes with being available...
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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Re: The idea's we trade by, so we never lose again. p2. The students become the masters

Postby forexbob » Sun Jun 19, 2016 1:07 pm

Jalarupa wrote:I hear you... Lol it's very difficult to trade from home... I'm thinking I'll get an office one day just so i I can "go to work..." and get out of the distraction that comes with being available...


same thoughts here..... home of the neighbours is for sale but still missing some zeroes.

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Re: The idea's we trade by, so we never lose again. p2. The students become the masters

Postby prochargedmopar » Sun Jun 19, 2016 2:37 pm

Braathen wrote:Out goes the audi? Those 2 door 1.8L "coupes" aint too bad tbh


Still got it. Wife drives it.
I buy cars and never part with em'
Kinda like my trades. Hahah

Have 7 stitting in my driveway or yard now.
And my house down the street has 6 sitting there but 2 of those are parts cars. (Wrecked or partially stripped)
#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: The idea's we trade by, so we never lose again. p2. The students become the masters

Postby prochargedmopar » Sun Jun 19, 2016 2:44 pm

forexbob wrote:
Jalarupa wrote:I hear you... Lol it's very difficult to trade from home... I'm thinking I'll get an office one day just so i I can "go to work..." and get out of the distraction that comes with being available...


same thoughts here..... home of the neighbours is for sale but still missing some zeroes.


Knowing that if the wife sees me at the computer she feels like Im not doing anything.

A couple weeks ago I decided I would get some t shirts printed that say. "Im working, do not interrupt."
Or something of that nature to let her and the kids know it will be just like if I left for 12 hrs.

It's either that or turn one of my workshops into a trading room and lock the doors.

:-)
#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: The idea's we trade by, so we never lose again. p2. The students become the masters

Postby prochargedmopar » Mon Jun 20, 2016 12:17 am

Yesterday we were playing with EJ weekly ZL's
Here are my Daily's now.

Any objections? ;)

DailyLines.png
DailyLines.png (43.41 KiB) Viewed 162 times
#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: The idea's we trade by, so we never lose again. p2. The students become the masters

Postby prochargedmopar » Mon Jun 20, 2016 12:20 am

DailyLinesPO.png
DailyLinesPO.png (51.38 KiB) Viewed 161 times
#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: The idea's we trade by, so we never lose again. p2. The students become the masters

Postby Libertarian » Mon Jun 20, 2016 2:48 am

Good lord this is an impressive site. Jala and V8 dropping knowledge. I've been doing this for 8 years, almost 9. I have never been profitable (a few months at a time big whoop). I met MO himself 6months into my trading "career" and spent a lot of late nights chatting with him online. I figured I had the master here, I'd just pick this stuff up by osmosis. Well a whole lot of heartbreak 8 years later and here I am. I never posted or followed the threads, it was always too difficult, I was chatting with MO direct on google talk every night and spending every second of my life looking at price action. Surely I couldn't fail. LOL. We'll here I am, 34 years old, 2 beautiful kids, a wife, a career, adulthood. Been ruining my life for a long *censored - swear word* time, failing.

I just re read the Never lose again thread and I realize where I took the wrong fork almost right away. I did that because of v8 posting in my thread and then I went through every one of his posts. More than the knowledge it was the attitude, it was the kick in the butt I needed. It was making these threads work. Now I go through these things and I'm like "Duh", I don't know what changed. I guess I was out of options. It was either this or get my head out of the clouds. Some people have said a lot of things about you V8, but I choose to believe. Never got good advice from those people anyway.

Ha, this post turned into something crazy. I was originally going to give a hurrah and tell Newark18 I had just setup an account with Traders way and that I was excited for the future.

I still got to deal with the fact that I've got a job and am the sole breadwinner so I don't have a bunch of time to participate here, but its all here and I'm going to spend every spare second I have reading and understanding, answering the questions for myself and with the help of the Kreslik folks. Thanks again. Good luck and good trading.

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