Deutsche Bank?s Weinstein to Leave, Start Hedge Fund ....after losing about a billion bloomberg
Bill Ackerman of Pershing Square considers him an expert.................................
Never Lose Again
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Re: My set up
Bruce wrote:MightyOne wrote:razorboy wrote:i seem to suffer from premature withdrawl...........made a few pips when price stalled out on me
I just look at the H1 and get a feel for what I should do when the 5m does what it does.
I have no lines drawn on my chart so as to not lock in my perception by becoming fixated on them.
If I am planning to enter a short trade I look at it from the going long perspective before placing the trade.
If I am wrong and a candle closes against me then I look to exit with the least amount of loss.
If I am right I use the M-Move Trader's Trick to exit.
That said, IMOP your trade was placed too high without demanding a better price.
But you do what do you if it makes you $$$
MightyOne,
Thank you for your continued comments on how you trade. This is very helpful. I am not clear on "If I am right I use the M-Move Trader's Trick to exit." What is the M-Move Trick? And how do you implement it?
Thanks again for sharing your experience with us.
Bruce
The Minimum Move Traders Trick:
1. Determine the smallest profit you are willing to take.
2. let price "spike" past that profit level.
3. If price pulls away and doesn't make a new extreme in 5 ticks then place your exit order on the extreme.
TRICK EXAMPLE w/ entry on 3499:
In these pictures the range is 14.5 and your min. move is 12 pips.
It does not have to be 12 pips this is just an example.
So the first candle spikes past 12 pips to +20 and we set an exit on the extreme (+20) but it closes on us the wicker man that it is.
So we set an exit order on our min. goal of 12 pips and the next candle lets us out (if it was above this point on the close we would just exit).
Last edited by MightyOne on Fri Jan 09, 2009 4:56 pm, edited 2 times in total.
razorboy wrote:move may not work for may - my target profit is some
It is like you are trying to sell some thing and you know your bottom price but you want haggle with the other guy for the highest price.
Only when he says 'you know what, I am walking out the door' do you give him your bottom price
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xmess7 wrote:YEa yea it's me again. Happy 09. I nabbed like 500 pips yesterday. Here's one that I did on the GBPJPY. The GBPUSD was similar. I decided to use TRO DYN FIBS SR and Horizontal line but in a longer term. Plus the use of the good ol trailing stop trick.
I think I will take a week's break MAYBE! I SEE SO MANY WINNERS IT"S NOT FUNNY ;P
Just when I was doing so good at the TRO Rehab Center for Long Term Traders you had to come here and taunt me with long term crack
Re: My set up
razorboy wrote:my mistake was not staying in longer - beginners nerves. I got it that high to make sure the price was actually going up - not just a retrace after 4 down hours with lots of volatilityMightyOne wrote:razorboy wrote:i seem to suffer from premature withdrawl...........made a few pips when price stalled out on me
I just look at the H1 and get a feel for what I should do when the 5m does what it does.
I have no lines drawn on my chart so as to not lock in my perception by becoming fixated on them.
If I am planning to enter a short trade I look at it from the going long perspective before placing the trade.
If I am wrong and a candle closes against me then I look to exit with the least amount of loss.
If I am right I use the M-Move Trader's Trick to exit.
That said, IMOP your trade was placed too high without demanding a better price.
But you do what do you if it makes you $$$
Exiting a trade and resizing to a larger lot size is worth more than a 100, 1,000, or 10,000 pip move.
MO CHART SETUP
Made some adjustments and redesigned my Meta Template.
Added Multi Meter 1/3 (third of a third) as another go long/short
ONLY. When H1+ is red then I can only make short trades. Higher
time frames over ride smaller time frames.
I swapped for TRO's updated 1/3 dot indicator.
Set Sweet Spot Gold to show 5's and have 25's as main levels.
Changed 5m range count to 1440 (5 days) because I am too lazy to
adjust my SL every trade.
Added MightyOne to daily chart.
Ok, what you will need:
Multi Meter: Color, Pivot, IB, 1/3.
Mag Market Price TRO MOD
1/3 Dots
Dragon Money MGMT
Candles m-Candles-M
TRO Range Count
Sweet Spot Gold
$ Tro Time
B-Clock TRO MOD
TRO MPMM MightyOne
A lot of indicators I know...
Added Multi Meter 1/3 (third of a third) as another go long/short
ONLY. When H1+ is red then I can only make short trades. Higher
time frames over ride smaller time frames.
I swapped for TRO's updated 1/3 dot indicator.
Set Sweet Spot Gold to show 5's and have 25's as main levels.
Changed 5m range count to 1440 (5 days) because I am too lazy to
adjust my SL every trade.
Added MightyOne to daily chart.
Ok, what you will need:
Multi Meter: Color, Pivot, IB, 1/3.
Mag Market Price TRO MOD
1/3 Dots
Dragon Money MGMT
Candles m-Candles-M
TRO Range Count
Sweet Spot Gold
$ Tro Time
B-Clock TRO MOD
TRO MPMM MightyOne
A lot of indicators I know...
- Attachments
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- Dragonstarlightx1.tpl
- UPDATED TEMPLATE
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- dragonstarlight-01.tpl
- (123.46 KiB) Downloaded 510 times
Last edited by MightyOne on Sat Jan 10, 2009 5:59 pm, edited 2 times in total.
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My dad started his practice account today and said he'll be getting with you soon on your indicators.
I'll show him some of them this weekend and then tell him to do as I say and not as I do....!! LOL
Had fun in the 2% room this morning. Some of you guys really did "drain the banks"!
I have been studying your threads relentlessly for a month day and night. Wife's po'd, kids have been deserted, ect. It's amazing how I get "live" and break all the rules. I may be in the 95% club now but not for long. Can't wait for Monday.
Keep up the good work.
FYI,
The 09 indicators are still giving me trouble. The Dibs and Range EZP2 cannot be used on the same chart or they cover each other when changing timframes. That's not a biggie as i don't need to use them together. Also My H1 HLstats2 numbers get "scrambled" when changing time frames. Meaning other #'s get left on top so you can't read the ones underneath. The last thing is when I delete an 09 indicator the anchor window stays on chart unless I close it out and then re-open the template without it installed.
I'm using a Gateway 1.7ghz laptop with no other known problems.
Cheers.
Pro
I'll show him some of them this weekend and then tell him to do as I say and not as I do....!! LOL
Had fun in the 2% room this morning. Some of you guys really did "drain the banks"!
I have been studying your threads relentlessly for a month day and night. Wife's po'd, kids have been deserted, ect. It's amazing how I get "live" and break all the rules. I may be in the 95% club now but not for long. Can't wait for Monday.
Keep up the good work.
FYI,
The 09 indicators are still giving me trouble. The Dibs and Range EZP2 cannot be used on the same chart or they cover each other when changing timframes. That's not a biggie as i don't need to use them together. Also My H1 HLstats2 numbers get "scrambled" when changing time frames. Meaning other #'s get left on top so you can't read the ones underneath. The last thing is when I delete an 09 indicator the anchor window stays on chart unless I close it out and then re-open the template without it installed.
I'm using a Gateway 1.7ghz laptop with no other known problems.
Cheers.
Pro
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
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