The ideas that I trade by:

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
prochargedmopar
rank: 5000+ posts
rank: 5000+ posts
Posts: 5545
Joined: Sat Dec 20, 2008 6:07 am
Reputation: 8
Location: Granbury, TX
Gender: Male
Contact:

Re: The ideas that I trade by:

Postby prochargedmopar » Sat Mar 12, 2016 9:45 pm

MightyOne wrote:A set of paper charts, delivered each week, of the daily weekly & monthly charts, stick-it notes, a red pen (because the charts were black), & a phone is all that I had to trade with back in the day.

My intraday chart was calling the broker every 30 minutes for quotes; based on the closed candle & what price was doing during the day is
how I managed open trades.
At the end of the day I would call the broker to update the daily charts; I am sure that he could have faxed me the information, but I think
that he liked chatting with me :lol:

There were no thoughts of ticks, I risked so many "lines", I targeted so many lines, & I had 4+ month OTM options as a hedge; the price of which was so many lines or "linelettes" of added risk (later I would cut outrights out completely, but that is another story).

People always ask how trading can be easy, but when you tell them they always say "no, no, no, I need $1,000,000 by tomorrow morning, how can I do that?"



And price will easily get to my entry @arrow, plus a few pips where I will make $4.

IMG_20160312_154358.jpg
IMG_20160312_154358.jpg (175.47 KiB) Viewed 721 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

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

MACRO PIPS

Postby MightyOne » Sun Mar 13, 2016 9:41 am

One last time, just in case people still don't get it.

EACH LINE IS ONE PIP OF PROFIT.
If price moves 704 pips & you are sized to trade "sixty-fours" then you have made 11 pips of profit.

"If your only problem is how much profit to take then what a problem to have!" -KEN ROBERTS

If you risk $20/pip on small charts then you would risk $2.50/Eight or 0.3125/Sixty-four:

5 Pips at $20: $100
5 Eights at $2.50: $100
5 Sixty-fours at $.3125: $100

Trade large charts AS IF you were SCALPING small charts.

INVESTOPEDIA wrote:Scalpers typically take profits at 1:1 risk to reward or less, allowing their strategies to achieve a higher strike rate, rather than a high reward rate.

User avatar
prochargedmopar
rank: 5000+ posts
rank: 5000+ posts
Posts: 5545
Joined: Sat Dec 20, 2008 6:07 am
Reputation: 8
Location: Granbury, TX
Gender: Male
Contact:

Re: MACRO PIPS

Postby prochargedmopar » Sun Mar 13, 2016 5:42 pm

MightyOne wrote:One last time, just in case people still don't get it.

EACH LINE IS ONE PIP OF PROFIT.
If price moves 704 pips & you are sized to trade "sixty-fours" then you have made 11 pips of profit.

"If your only problem is how much profit to take then what a problem to have!" -KEN ROBERTS

If you risk $20/pip on small charts then you would risk $2.50/Eight or 0.3125/Sixty-four:

5 Pips at $20: $100
5 Eights at $2.50: $100
5 Sixty-fours at $.3125: $100

Trade large charts AS IF you were SCALPING small charts.

INVESTOPEDIA wrote:Scalpers typically take profits at 1:1 risk to reward or less, allowing their strategies to achieve a higher strike rate, rather than a high reward rate.


And now we circle back to 0.
What if a person cannot make 704 pips?
Or, 70.4 pips?

But could possibly every once in a while make 7.4.

No matter how you slice it a trader MUST make pips to make $$.

Here in lies the trouble for most.


MightyOne wrote:One last time, just in case people still don't get it.


I don't get it.
#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

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Re: The ideas that I trade by:

Postby MightyOne » Sun Mar 13, 2016 8:26 pm

prochargedmopar wrote:
And now we circle back to 0.
What if a person cannot make 704 pips?
Or, 70.4 pips?

But could possibly every once in a while make 7.4.

No matter how you slice it a trader MUST make pips to make $$.

Here in lies the trouble for most.


MightyOne wrote:One last time, just in case people still don't get it.


I don't get it.


Who the fk is that person, he doesn't matter; & don't tell me it is you, I know that you are not that pathetic.

Does price move 10, 100, or 100's of pips? Can you see it with your own eyes, can it be measured?
Does price move 8, 64, or 64's of pips? Can you see it with your own eyes, can it be measured?

It is not about what you trade, it is how you trade it.
It is not about pips it is about how those pips impact your account.

A pip used to be a unit of minimum movement & now it is the pipette.
What has the pip become? 10 pipettes, a "macro/larger pip".
When you make 63 pipettes you call it 6.3 pips (macro-pips).

As you draw lines at each pip, and largely ignore the pipette, so would you draw lines at each eight or sixty-four or whatever & ignore the smaller movements.
If you are sized to the pip then the "pip" is your pip.
If you are sized to the eight then the eight is your pip.
If you are sized to the sixty-four then the sixty-four is your pip.

Like the idea of "other peoples money", it is more about perspective than it is about Webster's definition of things.
Last edited by MightyOne on Sun Mar 13, 2016 11:51 pm, edited 1 time in total.

paweldobkowski
rank: 150+ posts
rank: 150+ posts
Posts: 444
Joined: Mon Dec 27, 2010 12:12 am
Reputation: 0
Gender: None specified

Re: The ideas that I trade by:

Postby paweldobkowski » Sun Mar 13, 2016 9:28 pm

MightyOne wrote:
prochargedmopar wrote:
And now we circle back to 0.
What if a person cannot make 704 pips?
Or, 70.4 pips?

But could possibly every once in a while make 7.4.

No matter how you slice it a trader MUST make pips to make $$.

Here in lies the trouble for most.


MightyOne wrote:One last time, just in case people still don't get it.


I don't get it.


Who the fk is that person, he doesn't matter; & don't tell me it is you, I know that you are not that pathetic.

Does price move 10, 100, or 100's of pips? Can you see it with your own eyes, can it be measured?
Does price move 8, 64, or 64's of pips? Can you see it with your own eyes, can it be measured?

It is not about what you trade, it is how you trade it.
It is not about pips it is about how those pips impact your account.

A pip used to be a unit of minimum movement & now it is the pipette.
What has the pip become? 10 pipettes, a "macro/larger pip".
When you make 63 pipettes you call it 6.3 pips (macro-pips).

As you draw lines at each pip, and largely ignore the pipette, you would draw lines at each eight or sixty-four or whatever & ignore the smaller movements.
If you are sized to the pip then the "pip" is your pip.
If you are sized to the eight then the eight is your pip.
If you are sized to the sixty-four then the sixty-four is your pip.

Like the idea of "other peoples money", it is more about perspective than it is about Webster's definition of things.


Actually PRO made a good point here, which is: In order to make money You (sometimes : )) need to be right on direction.

It's true that by trading with OPM You get the safety margin and sooner or later You will be able to put on serious size. BUT, that doesn't change the fact that You NEED TO MAKE PIPS in order to move forward. Tick size varies.

The way I understood what Mighty is saying here (Kreslik in general, not that particular post) is that You don't have to be day trading/ scalping god and push size right away. It's much easier to start small, both, emotionally and technically and build Your way up. You don't have to pin point entries and You can think clearer because of no emotional connection to the position. Reinvesting profits into bigger stop losses or increasing size as You gain more OPM gives You huge adventage. It only takes patience.

Nonetheless, as I view it, when the time comes You better be positioned with the market ; ) The only difference is where Your margin is coming from, market or Your own pocket.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Re: The ideas that I trade by:

Postby MightyOne » Sun Mar 13, 2016 11:46 pm

I have never said that money could be added to your account without price moving; why people insist on pointing this out is beyond me.

If you want to make pips then trade in the direction of profit (simple, easy, done!).

I think that we might have a permanent edge if traders cannot grasp something as simple as position sizing and risk return ratios.

User avatar
prochargedmopar
rank: 5000+ posts
rank: 5000+ posts
Posts: 5545
Joined: Sat Dec 20, 2008 6:07 am
Reputation: 8
Location: Granbury, TX
Gender: Male
Contact:

Re: The ideas that I trade by:

Postby prochargedmopar » Sun Mar 13, 2016 11:56 pm

MightyOne wrote:I have never said that money could be added to your account without price moving; why people insist on pointing this out is beyond me.

If you want to make pips then trade in the direction of profit (simple, easy, done!).

I think that we might have a permanent edge if traders cannot grasp something as simple as position sizing and risk return ratios.


And this is exactly what I have not done on a consistent basis.

Result:
A loss of pipettes, pips, macro pips, and even a fair amount of "mega" pips here and there.

Acct. still @ 0 or slightly less than 7 yrs. ago.

Once I start trading in the direction of profit, Then I can become a fancy dancer with my position sizes.

Until then, it's all just a mute point to behold.
#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

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Re: The ideas that I trade by:

Postby MightyOne » Mon Mar 14, 2016 1:47 am

prochargedmopar wrote:
And this is exactly what I have not done on a consistent basis.

Result:
A loss of pipettes, pips, macro pips, and even a fair amount of "mega" pips here and there.

Acct. still @ 0 or slightly less than 7 yrs. ago.

Once I start trading in the direction of profit, Then I can become a fancy dancer with my position sizes.

Until then, it's all just a mute point to behold.


There you go, again, talking about the 10% of trading as if it were the thing that is holding you back.

It's like you keep arching your back during deadlifts & the trainer is trying to tell you why you are experiencing pain & are not
getting the gains that you should be and all you can say is "the weight is coming up off the ground, I just have to keep lifting".

You go through the motions of trading, but your form is wrong.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

"something"

Postby MightyOne » Mon Mar 14, 2016 7:53 am

Baby Step #2: know which chart you are actually trading when you choose "something".

AUDJPYecnH1.png
AUDJPYecnH1.png (37.99 KiB) Viewed 418 times

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Re: The ideas that I trade by:

Postby MightyOne » Mon Mar 14, 2016 8:04 am

Well it was "now" until a few seconds ago.

But hopefully you understand.
As time moves forward continue to trade the now on an even smaller chart.

As you obtain OPM you can afford to dig your claws into price history and wait out larger "somethings".

AUDJPYecnH8.png
AUDJPYecnH8.png (16.23 KiB) Viewed 415 times

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”