The ideas that I trade by:

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Jalarupa
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Re: The ideas that I trade by:

Postby Jalarupa » Wed Dec 24, 2014 9:02 pm

Long time since I posted anything...

Image


GU Long off the Cone Low looking to accumulate into the new year... last time the GU and Euro were this over sold it was the start of 2012 (if I'm not mistaken)

Image


Entry was textbook Zline into H1 MOMO - accumulation was into 1st 50% pullback

Looking to zero H4 BO traders... and then reposition, or hold for the H4 Cones above and then reposition...
"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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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 25, 2014 12:22 am

...maybe I am oversimplifying... -Seedling


Trading can be rough, but if you take the time to jot down ideas that you trade by then it will
make your trades a lot smoother.

Here are my main ideas:

Click down the periods from MN to your lowest chart; the worst thing that you can do is fail
to see something obvious on a larger chart.

Be passionate about trading from large chart extremes.
Your stop should make sense from a short term perspective and you should also be able to click
to a higher chart and think 'yes, I would realistically place/move my stop here IF i were trading this chart alone'

Recognize when you are gambling against the direction of profit & look for the large chart to conform.
At a minimum, you need a large chart breakout lower, close above something on a small chart, & the large chart
to appear as if it is going to close above the BO point.
It is far stronger for there to first be a higher low, on a large chart, & then a BO of the higher low, close above something
on a small chart, & for the large chart to appear as if it is going to close above the BO point of the higher low.

Notice the idea here:
We are trading small charts with a minimum requirement of a 2+ day extreme.
Our first priority is to gain space using our small chart but we are also watching the large chart develop to see
if it 'settles' into a picture that is advantageous for us & if so we continue our trades with the large chart idea fixed
in our mind.

Trading space is not the same as SL + TP trading, you can risk as little as 0.0168%/pip and still make 1000% per year by
accumulating size and resetting your size/space after reaching a %goal such as 58.5%.

Always think of your losses in term of 'big pips' (lets define a 'big pip' as a pip value that is 2/3 maximum size):
If your max size is 50u and you initiate a trade at 1u & lose 30 pips then we see that your loss in big pips is...
0.6667 * 50 = 33.3
(1/33.3)*30 = 0.9
...only 9/10 of a pip!
Once the ball of accumulation gets rolling then there is no way that you can lose; you are losing 1 big pip when you
fail & are gaining hundreds of big pips, on a large chart, when you succeed!
Your risk/reward ratio is so high that it boggles the mind.

Ask first, demand second:
It is good form to place a limit order before placing a market order.
Placing a market order is like breaking glass and pulling a fire alarm, don't overreact every time you place a trade.

What is 'something'?:
While 'something' is 'anything' it is generally a BO where a body closed lower than the extreme.
It can also be a series of candles, originating from an area of congestion, that form a steep trend; within the series
is a price wave (think 1-2-3) with the last bit breaking out and closing over a pivot & that is why we usually draw our
'somethings' around the midpoint of a momentum candle.

S/D, triangles, channels, forks, etc:
I can sum up how I use them in one word, "confluence".

You don't really need confluence, it is more of an "&" reason to do something that you already want to do.
"I want to buy these shoes..."&" they are half off"
Last edited by MightyOne on Thu Dec 25, 2014 7:57 am, edited 1 time in total.

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Re: The ideas that I trade by:

Postby prochargedmopar » Thu Dec 25, 2014 12:55 am

Ask first, demand second:
It is good form to place a limit order before placing a market order.
Placing a market order is like breaking glass and pulling a fire alarm, don't overreact every time you place a trade. M.O.

A rare few ask in the manner written above.........

What action should I take/what can I do right now? M.O. (paraphrased)

This has been burning in my brain the last few days.

Why wait when I can see what is happening and which way price is moving NOW?
Why take a guess at what price might do when I can see what it IS doing?
#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 ideas that I trade by:

Postby aliassmith » Thu Dec 25, 2014 1:12 am

MightyOne wrote:
...maybe I am oversimplifying... -Seedling


Trading can be rough, but if you take the time to jot down ideas that you trade by then it will
make your trades a lot smoother.

Here are my main ideas:

Click down the periods from MN to your lowest chart; the worst thing that you can do is fail
to see something obvious on a larger chart.

Be passionate about trading from large chart extremes.
Your stop should make sense from a short term perspective and you should also be able to click
to a higher chart and think 'yes, I would realistically place/move my stop here IF i were trading this chart alone'

Recognize when you are gambling against the direction of profit & look for the large chart to conform.
At a minimum, you need a large chart breakout lower, close above something on a small chart, & the large chart
to appear as if it is going to close above the BO point.
It is far stronger for there to first be a higher low, on a large chart, & then a BO of the higher low, close above something
on a small chart, & for the large chart to appear as if it is going to close above the BO point of the higher low.

Notice the idea here:
We are trading small charts with a minimum requirement of a 2+ day extreme.
Our first priority is to gain space using our small chart but we are also watching the large chart develop to see
if it 'settles' into a picture that is advantageous for us & if so we continue our trades with the large chart idea fixed
in our mind.

Trading space is not the same as SL + TP trading, you can risk as little as 0.000168%/pip and still make 1000% per year by
accumulating size and resetting your size/space after reaching a %goal such as 58.5%.

Always think of your losses in term of 'big pips' (lets define a 'big pip' as a pip value that is 2/3 maximum size):
If your max size is 50u and you initiate a trade at 1u & lose 30 pips then we see that your loss in big pips is...
0.6667 * 50 = 33.3
(1/33.3)*30 = 0.9
...only 9/10 of a pip!
Once the ball of accumulation gets rolling then there is no way that you can lose; you are losing 1 big pip when you
fail & are gaining hundreds of big pips, on a large chart, when you succeed!
Your risk/reward ratio is so high that it boggles the mind.

Ask first, demand second:
It is good form to place a limit order before placing a market order.
Placing a market order is like breaking glass and pulling a fire alarm, don't overreact every time you place a trade.

What is 'something'?:
While 'something' is 'anything' it is generally a BO where a body closed lower than the extreme.
It can also be a series of candles, originating from an area of congestion, that form a steep trend; within the series
is a price wave (think 1-2-3) with the last bit breaking out and closing over a pivot & that is why we usually draw our
'somethings' around the midpoint of a momentum candle.

S/D, triangles, channels, forks, etc:
I can sum up how I use them in one word, "confluence".

You don't really need confluence, it is more of an "&" reason to do something that you already want to do.
"I want to buy these shoes..."&" they are half off"


I'm a bit confused about the .000168%/Pip. If you
have $100,000, isn't that about 17cents a pip?
Trade Your Way as Long as It Makes Money!

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Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 25, 2014 2:18 am

I'm a bit confused about the .000168%/Pip. If you
have $100,000, isn't that about 17cents a pip? -Alias


Sorry, I meant 0.0168%...
I usually punch it in (account)*0.000168, probably because I am obsessed with clicking zeros.

:lol: Thanks Alias.

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Re: The ideas that I trade by:

Postby aliassmith » Thu Dec 25, 2014 3:05 am

MightyOne wrote:
I'm a bit confused about the .000168%/Pip. If you
have $100,000, isn't that about 17cents a pip? -Alias


Sorry, I meant 0.0168%...
I usually punch it in (account)*0.000168, probably because I am obsessed with clicking zeros.

:lol: Thanks Alias.


so actually risk is about .34% to .5% if you are
starting with 20 to 30 pip position.
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Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 25, 2014 7:47 am

so actually risk is about .34% to .5% if you are
starting with 20 to 30 pip position. -Alias


Assuming that you enter 20-30 pips from the extreme, yeah.

If you enter within the space then your initial risk is less.

Once you add size and normalize risk then you are risking the full x%.

GBPUSDM15.png
GBPUSDM15.png (35.77 KiB) Viewed 333 times


PS: I thought that I made a mistake in the pic, the six looks like an eight with the font that I'm using...

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Re: The ideas that I trade by:

Postby redart9 » Thu Dec 25, 2014 8:45 am

I think I understand you when you say wick in direction of loss and body in direction of profit. I guess we should enter when price is retracing.
But what I don't get it's how to add when price is heading in one direction with no retracement or not much. It 's adding like pyramiding but when price decides to change direction I feel like doomed with all the trades and I have to stop all when It closes a certain price to avoid more losses. We should use low risk at first + our gain and contract space to maximize our lot size but when price is ranging or heading north and south without retracement it's hard to achieve this...

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Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 25, 2014 11:02 am

Why wait when I can see what is happening and which way price is moving NOW?
Why take a guess at what price might do when I can see what it IS doing? -PRO


I blame Oanda for questions like this :lol:

The ASK is the price that a trader can buy at.
The BID is the price that a trader can sell at.

Many charts plot the bid price, so when we say 'price is at' we are really saying 'bid is at'.

When you place a buy market order you are agreeing to the lowest ASK & your account shows
a deficit because the highest BID is at a lower price...
...and then there is commission, fees, & slippage :shock:

Now that you know that there are always two prices, a BID & an ASK, you can see that we are
trading (one side bids, the other side asks, & someone agrees) not predicting price action (paying whatever
the guy asks).

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Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 25, 2014 11:24 am

redart9 wrote:I think I understand you when you say wick in direction of loss and body in direction of profit. I guess we should enter when price is retracing.
But what I don't get it's how to add when price is heading in one direction with no retracement or not much. It 's adding like pyramiding but when price decides to change direction I feel like doomed with all the trades and I have to stop all when It closes a certain price to avoid more losses. We should use low risk at first + our gain and contract space to maximize our lot size but when price is ranging or heading north and south without retracement it's hard to achieve this...


As soon as you add you must normalize risk.

If you start with a 10 pip stop and you are up 10 pips then you have 20 'space'.

If you double your position size then your space is reduced to 10 pips & your stop is also
10 pips from your last order.

If your risk was 1% before you doubled then your risk is 1% after you double because double
the pip value over 10 pips is equal to half that value over 20 space.

Sure, if you do not normalize your risk then you are doomed when price retraces.

You don't need a retracement to add to your size, you just need the confidence that you can get away with trailing your stop closer to the current price.

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