The ideas that I trade by:

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TheRumpledOne
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Re: The ideas that I trade by:

Postby TheRumpledOne » Wed May 25, 2016 5:33 pm

MightyOne wrote:I stole this WZ trade from TRO's latest post.

If you find the breakouts then you can trace your finger back to the "pattern" and place your trades in a much safer place.

If you use a little logic then you can increase your win/loss ratio by a lot.

A put arrows where one might take entries if using the WZ:

for_TRO.png


Safer place?
How so?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Wed May 25, 2016 6:03 pm

prochargedmopar wrote:

So you are saying.
Pattern in a pattern?


I am saying what I have always been saying...
there exists only the breakout and the place of origin.

If you cannot tell the difference between a breakout and a break-in then you are SOL :lol:

TRO wrote: Safer place?
How so?


Hard to explain without using gobbledygook :wink:

Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Thu May 26, 2016 12:46 am

Quick push down!
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu May 26, 2016 3:05 am

Sacrophage wrote:Quick push down!


Very nice! =D>

Hopefully you took profit right at the low of that large candle.

There are times when you take profit and price continues for another 160 pips, but you just have to tell yourself that growth comes from consistency and increasing your minimum position size and not from making a gazillion pips.

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Re: The ideas that I trade by:

Postby Sacrophage » Thu May 26, 2016 4:23 am

Yes, and took a long scalp from the little devil off the bottom. Exited near top of the cone. Would like to be long again for the overnight, but want a better entry down near the bottom of the cone.
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Re: The ideas that I trade by:

Postby Sacrophage » Thu May 26, 2016 2:08 pm

Got in 1 position overnight, added once before being stopped out. Looks like another potential long setting up - looking to position (SL) from 1.6080 and enter a bullish setup if price does not breach 1.6092 (last night low). Otherwise, may look at shorts.
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu May 26, 2016 2:42 pm

On this chart I have marked the last point made on Wednesday, but another option is to mark the area (each x is an area) where price closed.

The average number of columns per week was between 8 and 9 with each chart taking about 50 seconds per day to update;
if I watch 12 charts then that is 10 minutes per day.

The P&F chart itself (this style anyways) is nearly identical to the bar chart, the major difference being signal clarity.


USDCADH4.png
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Over the short-term I would still prefer to watch candle charts:

USDCADM1.png
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu May 26, 2016 2:50 pm

Sacrophage wrote:Got in 1 position overnight, added once before being stopped out. Looks like another potential long setting up - looking to position (SL) from 1.6080 and enter a bullish setup if price does not breach 1.6092 (last night low). Otherwise, may look at shorts.


Who says that you cannot become a "chart wizard" overnight? =D> :smt023

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Re: The ideas that I trade by:

Postby Sacrophage » Thu May 26, 2016 3:25 pm

MightyOne wrote: Who says that you cannot become a "chart wizard" overnight? =D> :smt023


I was here at the beginning - so long ago I forgot my username so I started a new acct. Like most, I lost a ton in the beginning - so, I turned to automated trading only - wrote hundreds of EA's over the years - some work very well, but if you watch them run you can see many mistakes that they make - and it is very difficult to code in all of what the eye can plainly see.

So, I am back at trying my hand at manual trading as well and figured I'd drop in on you guys. Amazing stuff you've all been doing.

I opened an account just for manual trading - goal is 100% by July 1st. Need to get comfy with larger lot sizes if I am to succeed - have trouble trading big - my best EA's run on tick charts so watching the float on a manual position is relatively new to me. Any suggestions appreciated - also, do you guys still hang out in a chat room during trading hours? Manual trading is lonely.

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Re: The ideas that I trade by:

Postby MightyOne » Thu May 26, 2016 3:38 pm

Could probably just make a P&F CC that attaches itself to the H4 open...
I have to give this a bit more thought. #-o

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