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Price is Everything Chat Room

  • #1,081
  • Edited 8:44pm Jan 16, 2012 7:54pm | Edited 8:44pm
Quoting Ifmyante
We have no hard and fast set of rules, so I feel that would be nearly impossible.

And anyway, where would be the fun in that?
Ifmyante's Rulebook and Trading Journal

What sort of trader do I want to be?
As mechanical as possible.
I want a strict list of rules for entry and exits

The above seems to contradict your answer to my question about automation (the lack of fun part, not the fact).

Imagine being able to derive an income while you are involved in things you really want to do.... and not get involved with people you don't want to be involved with (like the people in the construction industry)
Every rule has an exception. Except for this one.
  • #1,082
  • Jan 16, 2012 11:42pm Jan 16, 2012 11:42pm
Quoting Gabe2004
Ifmyante's Rulebook and Trading Journal

What sort of trader do I want to be?
(like the people in the construction industry)
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,083
  • Jan 17, 2012 3:00am Jan 17, 2012 3:00am
Quoting Gabe2004
Ifmyante's Rulebook and Trading Journal

What sort of trader do I want to be?
As mechanical as possible.
I want a strict list of rules for entry and exits

The above seems to contradict your answer to my question about automation (the lack of fun part, not the fact).

Imagine being able to derive an income while you are involved in things you really want to do.... and not get involved with people you don't want to be involved with (like the people in the construction industry)

Hey Gabe,

i also totally agree that we could derive money while we doing other stuff we love, apart from this .
Though you could make 20%/day and do it 2days in a week .

oh and: IF stated:
"Edit 09/04/2011:

My way of looking at the market has changed forever."



Quoting Rufus
LMAO

Prosperity to ya all! MIKY
--Be in the NOW or get lost in time.--
  • #1,084
  • Jan 17, 2012 3:19am Jan 17, 2012 3:19am
Quoting Gabe2004
Ifmyante's Rulebook and Trading Journal

What sort of trader do I want to be?
As mechanical as possible.
I want a strict list of rules for entry and exits

The above seems to contradict your answer to my question about automation (the lack of fun part, not the fact).

Imagine being able to derive an income while you are involved in things you really want to do.... and not get involved with people you don't want to be involved with (like the people in the construction industry)
Funny you should bring that up - only yesterday I had a conversation about that very thread.

It was written when my knowledge was limited to the J16 training method, which can be pretty mechanical if you want it to be, and can also bring in modest returns, relying on compounding or a large starting capital to bring in a living.

As my view of the market has changed, I've considered having the thread deleted, but I'd rather leave it there as a reminder of a time when I was 'nearly there, but not quite'.

Look, you can make trading this method mechanical if you like. Leave limit orders at, say, H4 S/D and tps at next D/S, and this will work more often than not. Just pick your levels well, and don't try to hope for levels to break unless you're coming from HTF levels too.

I've never changed my FF name, and started posting when I knew absolutely nothing about the market, so please don't think that how I felt about the J16 method, or the supertrend indi, or any of the get rich quick without having to think systems I've tried, is how I feel about the market now.

I'm trying to post very little nowadays - especially in RTP - I only want to post there ideas which I consider to be real gems, and post them only once.
So if you want to quote me, please do it from RTP, and if you want to quote me from a time before then, please understand that you're just quoting a work in progress.

Best

If
  • #1,085
  • Jan 17, 2012 3:21am Jan 17, 2012 3:21am
Quoting Miky

oh and: IF stated:
"Edit 09/04/2011:

My way of looking at the market has changed forever."





LMAO

Prosperity to ya all! MIKY
Thanks Miky - got it in one
  • #1,086
  • Jan 17, 2012 3:28am Jan 17, 2012 3:28am
Quoting Ifmyante
Thanks Miky - got it in one
I got a question, though it doesnt really mean much but still :
is 9.4.2011 as in 9.April or 4.September?

MIKY
--Be in the NOW or get lost in time.--
  • #1,087
  • Jan 17, 2012 3:36am Jan 17, 2012 3:36am
Quoting Miky
I got a question, though it doesnt really mean much but still :
is 9.4.2011 as in 9.April or 4.September?

MIKY
It's easy to remember my Eureka day - it was the 1st of April!

April Enlightenment Day
  • #1,088
  • Jan 17, 2012 4:00am Jan 17, 2012 4:00am
Quoting Ifmyante
It's easy to remember my Eureka day - it was the 1st of April!

April Enlightenment Day
April Fool's day is my birthday

Was that the day trading 'clicked' for you? Was it when you started reading PIE

Your journey is a familiar one, a similar one to mine. I'm glad your doing well. Does your wife believe in trading now as you are bringing in the pips?
  • #1,089
  • Jan 17, 2012 4:14am Jan 17, 2012 4:14am
Quoting Ifmyante
It's easy to remember my Eureka day - it was the 1st of April!

April Enlightenment Day
1. April = Enlightenment day (happy for you)
thats NEW

hehe
MIKY
--Be in the NOW or get lost in time.--
  • #1,090
  • Jan 17, 2012 4:18am Jan 17, 2012 4:18am
Quoting Ifmyante
I was simply looking at it in m1.

If this was a weekly chart, wouldn't you do the same, and salivate at the prospect?
This is exactly the point I was trying to make the other day. What is the difference between a setup on a weekly and a 1m? Well the obvious difference is time and pips. Profiting from pips is relative to your lot sizes though. So the only difference is time. Well, smaller TF trades are higher frequency. So why would you sit around and wait for a set up on the weekly when about 1000 of the same setups happened on the 1m?

Time frames are fractal. Most traders cannot see past the illusion of TFs. A 100 pip movement is just as valuable as a 1000 pip movement if you know how to adapt your trade plan to it using the correct lot sizes.
  • #1,091
  • Jan 17, 2012 4:18am Jan 17, 2012 4:18am
Quoting Tyoon
April Fool's day is my birthday

Was that the day trading 'clicked' for you? Was it when you started reading PIE

Your journey is a familiar one, a similar one to mine. I'm glad your doing well. Does your wife believe in trading now as you are bringing in the pips?
Yup, I believe that was the day! It was the day I posted my first explanation of S/D anyway.

And yes, she now sees that that trading is more than just luck, and is looking forward to the exodus
  • #1,092
  • Jan 17, 2012 4:22am Jan 17, 2012 4:22am
Quoting Tyoon
This is exactly the point I was trying to make the other day. What is the difference between a setup on a weekly and a 1m? Well the obvious difference is time and pips. Profiting from pips is relative to your lot sizes. So the only difference is time. Well, smaller TF trades are higher frequency. So why would you sit around and wait for a set up on the weekly when about 1000 of the same setups happened on the 1m?

Time frames are fractal. Most traders cannot see past the illusion of TFs. A 100 pip movement is just as valuable as a 1000 pip movement...
Exactly

But I still feel one must get used to trading HTFs perfectly first, and then gradually move down.

And please start in demo
  • #1,093
  • Jan 17, 2012 4:28am Jan 17, 2012 4:28am
Quoting Ifmyante
Exactly

But I still feel one must get used to trading HTFs perfectly first, and then gradually move down.

And please start in demo
Trust me, J16 hammered in the conservationist into me when I was going through their material. I am going back to demo to get my feet back on the ground ATM.

Your trading method is great in the way that you use your charts to mark zones and levels from monthly to 1m. I'm going to watch your vids again this afternoon.

If you make a new vid soon please make a mention of it
  • #1,094
  • Jan 17, 2012 4:31am Jan 17, 2012 4:31am
Quoting Tyoon
Trust me, J16 hammered in the conservationist into me when I was going through their material. I am going back to demo to get my feet back on the ground ATM.

Your trading method is great in the way that you use your charts to mark zones and levels from monthly to 1m. I'm going to watch your vids again this afternoon.

If you make a new vid soon please make a mention of it
Hint noted, sure will
  • #1,095
  • Jan 17, 2012 4:31am Jan 17, 2012 4:31am
Quoting Ifmyante
Hint noted, sure will
Hehe
  • #1,096
  • Jan 17, 2012 4:33am Jan 17, 2012 4:33am
Quoting Tyoon
This is exactly the point I was trying to make the other day. What is the difference between a setup on a weekly and a 1m? Well the obvious difference is time and pips. Profiting from pips is relative to your lot sizes though. So the only difference is time. Well, smaller TF trades are higher frequency. So why would you sit around and wait for a set up on the weekly when about 1000 of the same setups happened on the 1m?

Time frames are fractal. Most traders cannot see past the illusion of TFs. A 100 pip movement is just as valuable as a 1000...
Dont underestimate the spread. 2 pip spread is 20% of 10 pips profit. In case of 70%+ strategy you'll still get BE trading small ranges on M1.
  • #1,097
  • Jan 17, 2012 4:39am Jan 17, 2012 4:39am
Quoting Greenhaze
Dont underestimate the spread. 2 pip spread is 20% of 10 pips profit. In case of 70%+ strategy you'll still get BE trading small ranges on M1.
Agreed, GH, but when you're offered a definite 10 pips 20 times a day, the pips can really add up.

PS: It's great to see you posting around here. You're very welcome
  • #1,098
  • Jan 17, 2012 4:47am Jan 17, 2012 4:47am
Quoting Greenhaze
Dont underestimate the spread. 2 pip spread is 20% of 10 pips profit. In case of 70%+ strategy you'll still get BE trading small ranges on M1.
Lol, yeah I think I was exaggerating the pip counts. If I were going to take a trade on 1M I would be looking for about 500-1000 pips with larger lot sizes (for high probability trades) rather than a 10,000 pip move with smaller lot sizes (on smaller probability trades). I prefer doing higher frequency trading only choosing the best setups with high probability. In other words, I favour probability count over pip count.
  • #1,099
  • Edited 5:08am Jan 17, 2012 4:51am | Edited 5:08am
Quoting Greenhaze
Dont underestimate the spread. 2 pip spread is 20% of 10 pips profit. In case of 70%+ strategy you'll still get BE trading small ranges on M1.
It could work switching spread for comission. Havent done the calculation but i think it would save ALOT, even since some trade huge lots on 1m (gazing at IF :F)

Miky
--Be in the NOW or get lost in time.--
  • #1,100
  • Jan 17, 2012 5:31am Jan 17, 2012 5:31am
Hi If,

Excuse my ignorance but where can I find your videos?
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