The ideas that I trade by:

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trueblueTEX
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Postby trueblueTEX » Tue Feb 12, 2013 2:16 am

Also, the current yearly high is being pushed up to the thick blue line:


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trueblueTEX
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Postby trueblueTEX » Tue Feb 12, 2013 2:21 am

lazygeorge wrote:
trueblueTEX wrote:
MightyOne wrote:
PebbleTrader wrote:"-I no longer consider closing prices (to avoid shifts)."

What do you mean?

I use the CLOSE for these reasons:

- To better determine which way price is moving

- If I was using a line chart, I'd use the CLOSE

- To see important wicks (after they occur)

- For bumping my step chart up or down if a CLOSE takes out an extreme


It is easier to make plans based on relatively stable price ( price spends most of its time in a range where the midpoint remains fixed )
than it is to make plans based on a random closing price.

Instead of a close higher, I look to see if the midpoint is pulled higher.
Can It change course and move lower? Yes, but the low must be taken out in the current bar and move to a known price to drag it lower.

The midpoint is like a 'dynamic open' which is temporarily the same as the closing price.

The problem with closing prices is shifts (you can ignore them but they are still there):

If I said that price closed higher today then you might say 'based on what part of the world'
If I made this simple and divided the day into three equal parts then I would see three different charts (the interpretation of the three 'versions' of the daily chart says a lot more than a single random close).


Is that what the sma is for?


TEX,

Its a 1 period simple applied to median price(HL/2)


Hey lazy!

I was just wondering if that's why he chose the sma; because he's looking at midpoints instead closes.

I hadn't read any rationale for the sma and today is the first time I read MO saying he's not considering closes.

I still wonder if that means "midpoint over/under" instead of "close over/under".

:roll:

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trueblueTEX
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Postby trueblueTEX » Tue Feb 12, 2013 3:31 am

What do y'all think of my markup?

No kindergarten jokes. :evil:

:lol:


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MightyOne
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Postby MightyOne » Tue Feb 12, 2013 3:49 am

For the sake of argument PT:

Image

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MightyOne
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Postby MightyOne » Tue Feb 12, 2013 4:04 am

A short trade on a small chart is understandable.

That is a very sick weekly up trend that you are shorting though =)

Image

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TygerKrane
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Postby TygerKrane » Tue Feb 12, 2013 6:13 am

trueblueTEX wrote:I think I understand what you are saying, Tyger. I was just looking at the whole long line of UP and I would have thought it safer to treat Down as just a pullback for more UP.

I agree whole-heartedly with your observation. Trading with the trend vs. calling the end of a trend, basically.
I've burned it into my psyche to ignore that gut feeling that says, "The current trend has been going on for too long, it just HAS to end now!!"

That's why I was wondering if alias was just throwing something out there and seeing if it would stick.

I mean, if you DO get the end of a trend and have your POS from a pointy place, that is one hell of an expansion you have to look forward to...


trueblueTEX wrote:But I did believe that UP was the prevailing direction. Instead of buying when I did, I should have waited to see if a pull back was coming AGAIN like in the previous steps UP.

Chasing price is a natural reaction, who wants to get left behind if a strong trend does in fact remain a strong trend?? I don't follow the latest SPACE WARS installment to the extent some of the other guys around here do, but -150pips of drawdown are the types of numbers I just can't let happen to me.


Also, have you considered installing the font that goes with the Insanity Industries indicators? On your charts, that logo is a no-go :D


trueblueTEX wrote:btw: Tyger, did you see the cropped pic of my "radar" above?

I also made one of 25 pairs of just monthly. Don't know if I will benefit from it, but at least I can stare at a bunch of pairs all at once. I think eventually, that something will jump out and slap me.

and hopefully not a wick doll :)

Yes, it reminds me of my very first minicharts radar :)
Are you sure you need the moving average on it though?


A radar for 25 pairs of monthly is the equivalent of watching Forex grass grow. In addition, nothing worse than seeing that once-in-a-blue-moon monthly candle setup finally appear and STILL not being able earn anything worthwhile off of it. I know the MN1 chart in hindsight looks delicious and sometimes deceptively simple, but it takes a certain kind of fortitude, to ignore the contrasting signals you will get on smaller timeframes and keep one 'main' directional bias All-Month-Long.
IMO, you should keep your largest chart monitoring to the weekly, or, if you want a somewhat greater potential of expansion from the extremes, make yourself a W2 chart and pretend that it is a monthly, see how you fare trying to trade THAT from end-to-end. {It'll be like a baby monthly chart...}

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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MightyOne
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Postby MightyOne » Tue Feb 12, 2013 7:50 am

Maybe price stays vertical to the friggen moon, I don't know =)

But let me show you how you get paid:

1) POSITION <--- your part-time job
2) LOT SIZE <--- your full-time job
3) Percent Gain <--- the markets job

Step 1: pull an idea out of your ass
any idea will do, lets use this one:

Image


Step 2: go to work:

Position at 95? sure why not...

Can I reach it? probably not.

How can I reach it?:

a) larger lot size on a small chart & revert to a larger space (maybe even take profit and wait for a continuation towards 00 and reentering with a much larger size.

b) continuation towards 00 until the idea is affordable.

c) gain space on an entirely different pair (maybe this other pair is in a range where you can increase your lot size quickly and revert to the required space for this idea)

d) there are many other ideas.

What you DO NOT do is lick your wounds and cry about how you should have been watching this/that chart or this/that indicator.

- When I first started trading I used this crazy idea, taught by Ken Roberts, that price will (eventually) make a 50% retracement.
Is the 50% somehow superior to an idea that price could break the #2 point or any other basic idea? No.

The power is not is technical analysis, the power in in YOU and your ability to plan your trade and trade towards your plan.

I do the same thing over and over:

1), 2), 1), 2), 1), 2)
fizzle, fizzle, fizzle, fizzle, sizzle, forest fire, nuclear reaction.

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TygerKrane
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Postby TygerKrane » Tue Feb 12, 2013 11:49 am

1) POSITION <--- your part-time job
2) LOT SIZE <--- your full-time job
3) Percent Gain <--- the markets job

I don't know why,
but I particularly like this restatement.
And the post as a whole,
is getting copied into my thread.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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trueblueTEX
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Postby trueblueTEX » Tue Feb 12, 2013 12:40 pm

TygerKrane wrote:
Also, have you considered installing the font that goes with the Insanity Industries indicators? On your charts, that logo is a no-go :D


I know. I'm a baaaaaad boy. I had it installed on my other computer just not got around to it on this one. :(

Whoops!!! My bad, Tyger, I meant Weekly charts on it, NOT monthly.

The template that I started from had the ma's on it already. I just didn't turn 'em off.

aliassmith
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Postby aliassmith » Tue Feb 12, 2013 1:48 pm

trueblueTEX wrote:
aliassmith wrote:
aliassmith wrote:Daily


I can't win them all i suppose :(


I was thinking that your previous post looked countertrend:



It looks like you posted the same chart in both postings, so I don't see exactly where it went against you.

I say all of this from the perspective of being a noob who is trying to figure out what everybody else is doing :-)


Yes very much counter trend
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