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Plutonite's Trading Manual

  • #141
  • Aug 5, 2007 10:42pm Aug 5, 2007 10:42pm
Quoting Scrat
i know it doesn't make any sense at first. fibonacci doesn't make any sense either but works like a charm. just look at my chart and how price behaves around those dotted lines... i find it amazing.
alright, i gotta go back to work. good luck see you (all) later.
Ahh, that is very true like I said in the second little essay here (Part B: Psychology). Fibonacci is utterly meaningless in the markets, but it works because so many people use it and it is difficult to use it wrongly, hence it becomes a self-fulfilling indicator..it only works sometimes because so many expect it to work and act in line with it, therefore MAKING it work. Not true with these lines i think, but I haven't read much yet. Anyway, watch out for a pm!
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #142
  • Aug 8, 2007 2:48pm Aug 8, 2007 2:48pm
Plutonite, your ideas here are very stimulating and I thank you for taking the time to record your thoughts here for us. I've read everything here twice, and actually used your concepts to position myself for the big move in GBP/JPY last night. Made huge pips overnight, it was great! It would be awesome if you could add some further insights. So, we're using Scrat, Bollinger Bands, and Vegas Fibs... could you perhaps describe what each set of lines means to YOU in further detail (including how the Center lines of each are used), and rank their importance in your scheme of things? I know that being aware of news and fundamentals is a key component, as well as Price Action, so maybe you could just clarify things a touch as to what influences you the most and the least of all these components. I know most of the information has been presented, but I think you've got another good post in you that can summarize and tie it all together with a nice big pretty pink bow!

Thanks again for this great thread, I gave it 5 stars!
  • #143
  • Aug 15, 2007 9:51pm Aug 15, 2007 9:51pm
...help!!!!!!!!!!!!! I can't tell when to get out!
  • #144
  • Aug 16, 2007 6:32am Aug 16, 2007 6:32am
you mean, out of a trade or out of this forum?

Quoting 4XWeezal
...help!!!!!!!!!!!!! I can't tell when to get out!
Nihil Sine Deo.
  • #145
  • Aug 16, 2007 10:56pm Aug 16, 2007 10:56pm
Quoting Scrat
you mean, out of a trade or out of this forum?


Go easy on 'em Scrat, everybody goes through that stuff in the beginning. "How do you enter?" "When do you exit?" "Can you write down a formula for me?" "Can you give me the key to eternal wealth and glory?"

To the poster: I exit, as I have said many times, when my stomach hurts. Why do you people not believe me? I never lie, my mother told me not to when I was little. Gawd.

PS: We're just joking around, but trading is really a matter of experience and every situation is unique. Try to read the articles and examples to determine how we "feel" about the chart at any given time.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #146
  • Aug 16, 2007 11:00pm Aug 16, 2007 11:00pm
Thank you sir, article coming I swear, it's just that I am out of the house all day because I recently moved and lots of chores to do. I will also include pics.. etc. I only write stuff that i strongly believe in and which I have spent hours trying to prove WRONG, which is why it takes me more time than others to put this stuff down. Also, a discretionary system is very dificult to put in words, so please bear with me. Thanks again for the kind words!

Cheers,
-P

Quoting Repipula
Plutonite, your ideas here are very stimulating and I thank you for taking the time to record your thoughts here for us. I've read everything here twice, and actually used your concepts to position myself for the big move in GBP/JPY last night. Made huge pips overnight, it was great! It would be awesome if you could add some further insights. So, we're using Scrat, Bollinger Bands, and Vegas Fibs... could you perhaps describe what each set of lines means to YOU in further detail (including how the Center lines of each are used), and rank their importance in your scheme of things? I know that being aware of news and fundamentals is a key component, as well as Price Action, so maybe you could just clarify things a touch as to what influences you the most and the least of all these components. I know most of the information has been presented, but I think you've got another good post in you that can summarize and tie it all together with a nice big pretty pink bow!

Thanks again for this great thread, I gave it 5 stars!
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #147
  • Sep 9, 2007 2:02pm Sep 9, 2007 2:02pm
Hello master Pluto

where are thou? still moving around the sun in clouds of stardust ?

or thinking about giving us mere mortals some new food for thaught ?

we`r looking forward to your appearance !! at least i do
  • #148
  • Sep 17, 2007 10:02pm Sep 17, 2007 10:02pm
Quoting AidanPryde
Hello master Pluto

where are thou? still moving around the sun in clouds of stardust ?

or thinking about giving us mere mortals some new food for thaught ?

we`r looking forward to your appearance !! at least i do
Hi!

I'm around, give it a while and I will describe market-watching in some more detail, with my own take on price action patterns. Meanwhile, lots of good stuff to read in the Trading Room Forum, and I also have started providing my real-time trades here:

http://www.forexfactory.com/showthread.php?t=46881

Good luck.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #149
  • Sep 18, 2007 8:41am Sep 18, 2007 8:41am
long time no see. how's it going?
Nihil Sine Deo.
  • #150
  • Sep 18, 2007 9:31am Sep 18, 2007 9:31am
Quoting Scrat
long time no see. how's it going?
Hey scrat! Nice to see your still alive and cracking acorns. Tell you the truth, the squirrels here in DC are a terrible pest, theres acorns all over the place because of em. Anyway, will let you know when I got something written down on live trading/market watching so we can compare notes.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #151
  • Sep 21, 2007 5:21am Sep 21, 2007 5:21am
Great reading Plutonite. I've been having a look at your journal too. You mention that you use price action around certain levels to determine entries etc. Can you expand more upon what patterns you are looking for and on what time frames? Are you dropping down to lower time frames to see reversal signs or watching for them in the 4hr?
  • #152
  • Feb 1, 2008 8:32am Feb 1, 2008 8:32am
Well I followed this thread for a while and was really intrigued by how price really seems to follow all these pretty lines drawn all over the place. I had some mixed results and ended up moving on to find the method that works for me (because of course it's never us that's wrong it's the system right? ). Anyway, a long succession of failures has made me revisit everything I thought I knew. So I've just been reading through this thread again and realized that I had things completely wrong. This method of trading all of a sudden makes a lot more sense to me now.

I thought this thread was gold at the time, and now I believe it again. So I'm giving it a bump so others can get a look.
  • #153
  • Feb 1, 2008 9:31am Feb 1, 2008 9:31am
Quoting bodra
Well I followed this thread for a while and was really intrigued by how price really seems to follow all these pretty lines drawn all over the place. I had some mixed results and ended up moving on to find the method that works for me (because of course it's never us that's wrong it's the system right? ). Anyway, a long succession of failures has made me revisit everything I thought I knew. So I've just been reading through this thread again and realized that I had things completely wrong. This method of trading all of a sudden makes a lot more sense to me now.

I thought this thread was gold at the time, and now I believe it again. So I'm giving it a bump so others can get a look.
Well, I love you too, and I'm so sorry I haven't been able to really give it some dough in a while, it's just that I barely have time to write and I will have to write a lot. I will slightly revise the stuff that's written here and make a Tips n Tricks section on how to watch the market/trade real time, but really it is your experience that will harden you. I still make mistakes all the time. Sometimes I look at the market and I understand nothing. Then I remember how random it all is and I step back for a while. Keep Truckin' yall.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #154
  • Feb 2, 2008 3:34am Feb 2, 2008 3:34am
Oh yeah! I'm ready! Lay it on me.
  • #155
  • Last Post: Jun 10, 2008 3:16pm Jun 10, 2008 3:16pm
Hi:

It looks like the Scrat indicator is the same, or very similar, to "standard error bands." Where Bollinger uses a moving average, both Scrat and the Standard Error Bands use linear regression (21 period, as a defalut in the standard error bands).

More about it found on the web at:
http://www.forexrealm.com/technical-...ror-bands.html

I was very interested in linear regression as a trading tool before I saw Plutonite's system. Plutonite's display correctly showed a nice move that my (current level of) linear regression analysis would shown to be moving the other way (but I would have been saved anyway because of Stochastics

Thanks,
Barry
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