The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Fri May 13, 2016 4:02 pm

Do you know how many people have shown me a small chart and said "price closed over something, I went long and loss loss loss"?
I ask these people to show me where their stop loss is located on a 4 hour chart and they show me something like the attached.

Then I tell them that there is nothing wrong with their trades, it is the expectation of how far price can move without closing over "something" that they need to adjust.

Price cannot rally on wicks, what part of that do you not understand?
Yes it can go up, no it cannot make a meaningful rally without bodies closing higher.

This is so basic that it was the very first thing that I ever posted.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Fri May 13, 2016 4:31 pm

So last episode of USDTHB price was above something and, as I do very rarely, I drew a pennant.

Price moved sideways, breaking above the pennant, and continued in the direction of profit (big surprise).

Separate the patterns from the breakouts & the chart should begin to make sense.
No 2 hour lectures and fancy words required, just two eyeballs and faith that you are not a complete idiot.

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Postby MightyOne » Fri May 13, 2016 4:45 pm

If everything is not a cone then why does everything look like a cone? :lol:

Stocks, Futures, Forex, any chart, any timeframe, ...and there it is.

What has been seen cannot be unseen.

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v8power
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Re: The ideas that I trade by:

Postby v8power » Mon May 16, 2016 1:29 am

Image


Price is down 1,000 pips from the yearly high. "Price will fill yearly range within 5 (sometimes 7) months" M.O. Helpful hint to know. Especially when you have strong support at 122 (triple bottom). Price needs to close strong below that for me to keep selling. DWM all look like there could be a possible reversal coming depending on what prices does.

There was a nice double failure in a MZ last week that sold off into another MZ (who would have guessed). This is way to easy guys, if you would just listen to M.O.

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Re: The ideas that I trade by:

Postby v8power » Mon May 16, 2016 2:02 am

M.O. I swear I just read a post the other day with you talking about if price didn't reach a crash zone and what that could possibly lead to the following. But I cant recall where or what thread or if I just imangined it. So I am curious about this now. Im thinking such a scenario would happen do to volatility decreasing or price being range bound or both. Would this set up for a possible breakout and/or increase momentum? Soomething new for me to look for and take notes on in the future.

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Re: The ideas that I trade by:

Postby v8power » Tue May 17, 2016 2:22 am

Price at 2+day extreme, check. SL out of range or on a large chart, check. Using OPM for big returns, double check. Plus we still got some crash zones we need to get through. And its only Monday. Don't you guys hate when you double your account day after day. Don't complicate this guys. Use whatever idea that you are comfortable with and is profitable and trade it consistently with good MM.

I don't care when I take a loss. Actually I kind of like them, because after a loss or even a few I know that whatever Im trading is got to be big with huge R:R.

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Re: The ideas that I trade by:

Postby v8power » Tue May 17, 2016 2:38 am

How can you not know which way to trade. Price is obvisoly closing above something, not below. You literally have BDP after BDP. You can enter off h1 or take a lil effort and go down to a smaller tmf and fine tune it so it is smaller. I still have 2 entries open, closed 3 others for over 50%. They literally just give you massive amounts of money for doing nothing.

Keep it simple guys. You actually have to try and lose if you listen and follow MO.

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Re: The ideas that I trade by:

Postby v8power » Tue May 17, 2016 2:51 am

Last one guys I promise. But I wanted to get my point across. Look at all three charts and my trades. What do you see. Consistency. Price at extremes, sl out of range, BDP/wicks, big RR and crash zones. People who aren't winning are jumping from method to method and are taking small wins and big losses. There actually trying to lose. Don't do it.

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Re: The ideas that I trade by:

Postby v8power » Tue May 17, 2016 4:47 pm

Here is a log I started 18 months ago. What do u notice. Im still using the same ideas I was back then. I have added a few things since then like the crash zone, double failures and OPM. So i started with a basic idea and traded it consistently. Once i was consistent with that I would add a new idea and then master that over about 6 months, before adding anything else.

How many of u are adding and changing it monthly, weekly or daily.

https://www.kreslik.com/forums/therumpledone/my-boring-daily-log-t8900

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Re: The ideas that I trade by:

Postby prochargedmopar » Tue May 17, 2016 5:23 pm

v8power wrote:Here is a log I started 18 months ago. What do u notice. Im still using the same ideas I was back then. I have added a few things since then like the crash zone, double failures and OPM. So i started with a basic idea and traded it consistently. Once i was consistent with that I would add a new idea and then master that over about 6 months, before adding anything else.

How many of u are adding and changing it monthly, weekly or daily.

https://www.kreslik.com/forums/therumpledone/my-boring-daily-log-t8900



It gets REALly boring when you stop posting to your blog.
I've found that the most successful podcasts/blogs/youtubers/etc. keep updating on a regular basis
otherwise most people lose interest.

I traded MACD3 for many many years and even though the "system" has an 80%+ success rate I didn't make any $$.
I've been looking at MZ's and ZL's since the beginning of time and yet I still haven't made any $$.
I haven't lost 10's of thousands as you suspect. (only about $2k in 8yrs)

So far trading has been a very inexpensive hobby if that's how one wants to classify it as compared to car guys, fishermen, blah blah.
#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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