The ideas that I trade by:

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Hoodlum
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Postby Hoodlum » Sun Aug 24, 2014 6:08 pm

Hey, been reading for a little while, just wanted to speak up and offer my thanks for all the info you guys (MO, dragon, TRO, espips and many more) have dropped over the years on here. I've been studying trading seriously for perhaps just over six months, and I was all at sea until I came across NLA.

I've been trading on demo since I first started losing all my cash, I'm at the point where I can add around 10% to my account on most days off 1-2% risk per trade, so probably time to go back live. My style however seems to perpetually be trying to trade reversals, and so my main problem is getting stuck on the wrong side of a big trend (like USD and JPY last week), missing all the big points. I'm much better in ranging conditions than trending conditions. I'm sure this is down to my failing to consider the big picture more often.

This cone and triangle stuff looks like it could really help in that regard. Is there a "101" type thread I should read, like NLA for the held profit theory? Or should I just try to piece it together from what I see in this thread?

Thanks again, any info is much appreciated.

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MightyOne
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Postby MightyOne » Sun Aug 24, 2014 9:22 pm

A zero line is simply this:

If you can see how traders are losing money then you can put their loss in your pocket.

The most common way to lose money is to move your stop to protect profit.
The moment that you feel the need to move your stop loss to 'protect' your profit is the moment when you should take profit.

Another way to save money is to not liquidate for less than the highest (if long) close of a leg on a 15 minute chart if you have position at a low extreme; if you have position at a breakout extreme & there is a sudden fast move or short term steep trend then just get out.

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Jalarupa
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Postby Jalarupa » Mon Aug 25, 2014 5:40 am

Hoodlum wrote:This cone and triangle stuff looks like it could really help in that regard. Is there a "101" type thread I should read, like NLA for the held profit theory? Or should I just try to piece it together from what I see in this thread?

Thanks again, any info is much appreciated.


My personal journey through cones is highlighted HERE(although it hasn't been updated as much as I would have liked...)

A new thread on Held Profit Theory has begun to manifest itself HERE - maybe you should join the discussion

Peace
"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>>

Pjort
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Postby Pjort » Mon Aug 25, 2014 6:17 pm

Jalarupa wrote:
Pjort wrote:Pretty kewl stuff, I know :shock: :lol:



If I understand my forex guru; he would tell you that those are all areas where one "could" take action...

HOWEVER if you are not POSITIONED off of a Large Time Frame Extreme or in the direction of MOMO on the large Time Frame chart then you are setting yourself up for painful experiences...

Image


First of all Jalarupa, thanks you for giving you the time replying a novice simple questions... And I remarked that it was your 888 hundred post at kreslik - it is a very lucky number. from wiki:

[I]"In Christian numerology, the number 888 represents Jesus, or sometimes more specifically Christ the Redeemer. This representation may be justified either through gematria, by counting the letter values of the Greek transliteration of Jesus' name,[11] or as an opposing value to 666, the number of the beast.[12]

In Chinese numerology, 888 has a different meaning, triple fortune, a strengthening of the meaning of the digit 8.[13] For this reason, addresses and phone numbers containing the digit sequence 888 are considered particularly lucky, and may command a premium because of i
t."[/I]

Next I have to tell you that I almost have read this MigthyOnes thread over fully... And many others of him and TRO and others... I was actually very kean on this Kreslik forum for months last autumn but wasn't able to subscribe as member because it was closed for that, due spamming attacks. Now I am back and I am a "lucky" member and enjoying this friendly place of enthusiastic traders.
My big problem is that even if my writing and reading in english is at a okay level, these thread many time are full off self explanatory sentence which often needs native born use of the english language. Which I cant as I am from Denmark.
I therefore now jump in with some quite maybee dump and very simple questions, I apologise for that.
Believe me if you google momo PA and so on you get so many explanations... some simple, some long, some esoteric, some confusing,
Funny enough I have now read some trading books this past month instead of reading forums. For me it has been good time spend. Because the books gives me alot fundamentals about trading, often explained very clear and precise (no offence to forums or you guys)
Any way now it seems to be the right moment to be back studying you real life trading people...
One book I have read with great interest is Mind over market by James Dalton. It is about market profile - for me the interesting part in the book is something about excesses of the price. Which seems to be place where you guys try go be and catch a good price. Have some of you been studying Market profile?

Anyway thanks...

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Dillinger
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Postby Dillinger » Tue Sep 23, 2014 8:40 pm

Found an old ken Roberts trading book from 1984 at my fathers house the other day and he asked me if I thought anything in it was still relevant. I told him there is a trader that makes a lot of money with ideas like this :lol:
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"So pick up your skirt, grab your balls and let's make some money"

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MightyOne
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Postby MightyOne » Wed Sep 24, 2014 1:01 am

Dillinger wrote:Found an old ken Roberts trading book from 1984 at my fathers house the other day and he asked me if I thought anything in it was still relevant. I told him there is a trader that makes a lot of money with ideas like this :lol:


We can do better than this now :lol:

Ideally, we max out before the daily+ even trends.

Focus on size, consider your stop on large charts, focus on size, watch your account double once then twice & hopefully thrice.

While you are trading a daily+, you zoom in on the pin of said chart and find yourself looking through a microscope at small chart activity...
the trick is to remember to look up from the scope and see what is going on around you in large chart land because at a the end of the day we are trading large charts with large size for large money.

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prochargedmopar
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Postby prochargedmopar » Sat Oct 25, 2014 7:11 am

Hi M.O. And Kreslik crew.
#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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xXx
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Postby xXx » Sat Oct 25, 2014 9:17 am

What's up pro? :)

To stay on topic...
Space Wars works and I finally see "is it closing higher/lower than something" but the greed gets in the way and instead taking what should be enough I hope for a breakout and keep loosing space.

Any tips?:)

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prochargedmopar
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Postby prochargedmopar » Sat Oct 25, 2014 6:05 pm

xXx wrote:What's up pro? :)

To stay on topic...
Space Wars works and I finally see "is it closing higher/lower than something" but the greed gets in the way and instead taking what should be enough I hope for a breakout and keep loosing space.

Any tips?:)


Yeah,
"loosing" is a stripper. (well most)
"losing" has been my acct the last couple months using 500 pip sl and adding every few hundred.
Started this method the wrong time of year, Aug-Sep. And the WRONG year too.
LOL
50% in tank. (what M.O. considers BLOWN)
#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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Postby MightyOne » Sat Oct 25, 2014 7:30 pm

prochargedmopar wrote:
xXx wrote:What's up pro? :)

To stay on topic...
Space Wars works and I finally see "is it closing higher/lower than something" but the greed gets in the way and instead taking what should be enough I hope for a breakout and keep loosing space.

Any tips?:)


Yeah,
"loosing" is a stripper. (well most)
"losing" has been my acct the last couple months using 500 pip sl and adding every few hundred.
Started this method the wrong time of year, Aug-Sep. And the WRONG year too.
LOL
50% in tank. (what M.O. considers BLOWN)



500p SL? :lol:

Try finding trades from long term extremes using stops between 15 & 90 pips.
Your risk goes up as you expand the box:
15p = 0.75%
30p = 1.50%
45p = 2.25%
60p = 3.00%
75p = 3.75%
90p = 4.50%
You are generally entering when price is within the box for less risk than your maximum risk.

Maybe you are looking at the hourly EU, drag a box down 60 pips from the extreme, & notice that price has reached that lvl in the recent past.
You might use a lower extreme, the highest break-in of the box, to rest a smaller 35 pip box for 1.25% less risk.

Knowing that your extreme is worse than the daily+, your goal might be to capture 25 pips and to re-position with a 60 pip box at reduced risk; you wouldn't do this more than once, it is a 'no other way to reach it' maneuver.

Goal #1 is to own the largest extreme for the least amount of money.

Goal #2 is to own the largest extreme for the least amount of money & the largest lot size.

If you focus on risk, positioning, & lot size then money is the natural result.

When should you just take the money?

1. you don't have a daily+ trend
2. price is going up, but like this: "<"
3. a sudden & 'crazy big' mbar

otherwise just keep pushing your lot size up and focus on maintaining good positioning along the HTF extremes.


:lol:

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