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  • #561
  • Jan 18, 2012 8:44pm Jan 18, 2012 8:44pm
Quoting Chicky
Trade #65. Short for 150 pips.
Trade #65 hit sl. 1% Loss

Trade #66 entered. Short for 60 pips.
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The Thief of Wall Street
  • #562
  • Jan 18, 2012 9:20pm Jan 18, 2012 9:20pm
As a fairly new trader less than 1 year experience I would advise all newbies to stop reading anything for a couple of weeks and switch over to the 1 or 5 min chart and watch how price behaves day in day out and write down what you find and compare 1 day to another look for market structure points draw support and resistance and trendline levels in pay close attention to round numbers how price reacts to it breaking or bouncing back.
Find your Favourite Pattern
  • #563
  • Jan 18, 2012 9:22pm Jan 18, 2012 9:22pm
Quoting Pipanator
As a fairly new trader less than 1 year experience I would advise all newbies to stop reading anything for a couple of weeks and switch over to the 1 or 5 min chart and watch how price behaves day in day out and write down what you find and compare 1 day to another look for market structure points draw support and resistance and trendline levels in pay close attention to round numbers how price reacts to it breaking or bouncing back.
leave chickster to do his work. i dont get the purpose of this post.
Have I got something on my face, SOLDIER?
  • #564
  • Edited 11:25pm Jan 18, 2012 11:09pm | Edited 11:25pm
bumapatria,

he was doing long and making money , you ask him why he not taking short now we lost 1%

http://americasbestmyspace.com/myspa...m-whipping.gif

Mohan
  • #565
  • Edited 11:57pm Jan 18, 2012 11:41pm | Edited 11:57pm
Quoting Pipanator
As a fairly new trader less than 1 year experience I would advise all newbies to stop reading anything for a couple of weeks and switch over to the 1 or 5 min chart and watch how price behaves day in day out and write down what you find and compare 1 day to another look for market structure points draw support and resistance and trendline levels in pay close attention to round numbers how price reacts to it breaking or bouncing back.

Quoting bumapatria
leave chickster to do his work. i dont get the purpose of this post.
Buma, let Pipator express his opinion. He is also trying to help. I think what he is saying is that it is important to understand how price behaves. I just want to add that not only 1 or 5 minute charts, but all timeframes.
The Thief of Wall Street
  • #566
  • Jan 18, 2012 11:42pm Jan 18, 2012 11:42pm
Quoting mohan76
bumapatria,

he was doing long and making money , you ask him why he not taking short now we lost 1%

http://americasbestmyspace.com/myspa...m-whipping.gif

LOL.

As always, I took that short bit too early but can explain. That short was based on 4H to 8H timeframes and same is the current short.
The Thief of Wall Street
  • #567
  • Jan 19, 2012 12:30am Jan 19, 2012 12:30am
Quoting Chicky
LOL.

As always, I took that short bit too early but can explain. That short was based on 4H to 8H timeframes and same is the current short.
just for fun , i am still bullish hoping to break 78 today
Mohan
  • #568
  • Jan 19, 2012 8:15am Jan 19, 2012 8:15am
Quoting Chicky
Trade #65 hit sl. 1% Loss

Trade #66 entered. Short for 60 pips.
Trade #66 passed away to heavens. Loss 1%

Trade #67 born. Short for 60 pips
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The Thief of Wall Street
  • #569
  • Jan 22, 2012 1:28pm Jan 22, 2012 1:28pm
Quoting Chicky
Trade #66 passed away to heavens. Loss 1%

Trade #67 born. Short for 60 pips
Trade #67 hit sl. 1% Loss.

Trade #68 entered on Friday running. Short for 60 pips.
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The Thief of Wall Street
  • #570
  • Jan 22, 2012 5:33pm Jan 22, 2012 5:33pm
Quoting Chicky
Trade #67 hit sl. 1% Loss.

Trade #68 entered on Friday running. Short for 60 pips.
Chicky,

i am smelling some revenge here , is that the case ?
Mohan
  • #571
  • Jan 22, 2012 5:36pm Jan 22, 2012 5:36pm
Still looking like a 50/50 random game here sadly Chicky.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #572
  • Jan 22, 2012 6:36pm Jan 22, 2012 6:36pm
chicky is attempting to profit from rigid system based on money management and probability, this is usually what happens to such systems.

increased screen time is needed to have better results granted you know what works in the markets, less screen time with a good system gives you relatively good win:loss which is what Chicky is attempting here.
AVT INVENIAM VIAM AVT FACIAM
  • #573
  • Jan 22, 2012 6:43pm Jan 22, 2012 6:43pm
Quoting the redlion
chicky is attempting to profit from rigid system based on money management and probability, this is usually what happens to such systems.

increased screen time is needed to have better results granted you know what works in the markets, less screen time with a good system gives you relatively good win:loss which is what Chicky is attempting here.

Yes but...

50/50 or very near means your entry system for the given amount of pips your trying to rigidly call is basically random.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #574
  • Jan 22, 2012 8:55pm Jan 22, 2012 8:55pm
Quoting Turveyd
Yes but...

50/50 or very near means your entry system for the given amount of pips your trying to rigidly call is basically random.
Not exactly, but nearly. Trade #67 was the only trade that met all my entry and exit criteria in all these 68 trades, but it was a loser. That shows that even following a definite edge does not mean no losers or break-even.

Wait and watch.

You may have seen many such threads here. But I promise if it hits $120 before it hits $80, will stop only at $10,000.
The Thief of Wall Street
  • #575
  • Jan 23, 2012 6:46am Jan 23, 2012 6:46am
Quoting Chicky
Not exactly, but nearly. Trade #67 was the only trade that met all my entry and exit criteria in all these 68 trades, but it was a loser. That shows that even following a definite edge does not mean no losers or break-even.

Wait and watch.

You may have seen many such threads here. But I promise if it hits $120 before it hits $80, will stop only at $10,000.
No such thing as a 100% Cert, it's just improved probability of success, quite sad only 1 perfect trade over so many months.

The issue is though, it's taken you so long to get from $100 to $120 that you'll need to live another 1000 years+ to get to $10,000, I almost hit $120 from almost $100 last week, first trades of the year.

Balance
Start = $103.15
1's trade loser, = $95.69
2nd trade winner = $98.45
3rd trade winner = $119.45 ( got to love gold )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #576
  • Jan 23, 2012 7:56am Jan 23, 2012 7:56am
You follow this thread long enough to understand the purpose, especially since Chicky regularly reminds everyone of it...

This is an exercise in probability and moneymanagement. Your example is just a random one. Even if you can replicate it endlessly, nobody else can (probably...).

The method here can be replicated, and I plan to follow it until 10.000 is reached.
Fail better.
  • #577
  • Jan 23, 2012 8:16am Jan 23, 2012 8:16am
Quoting LarryDarrell
You follow this thread long enough to understand the purpose, especially since Chicky regularly reminds everyone of it...

This is an exercise in probability and moneymanagement. Your example is just a random one. Even if you can replicate it endlessly, nobody else can (probably...).

The method here can be replicated, and I plan to follow it until 10.000 is reached.
I understand it, but I also understand it's wasting time, something as you get older you'll realise is in short supply.

My example / method isn't random it's based on probability mainly being the trend won't change, but I have no fixed entry or exit rules, you've got to adapt to what's happening. Taking this away is like driving blindfolded, keep your options open you need as many edges as you can get.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #578
  • Jan 23, 2012 9:29am Jan 23, 2012 9:29am
Quoting Turveyd
I understand it, but I also understand it's wasting time, something as you get older you'll realise is in short supply.

My example / method isn't random it's based on probability mainly being the trend won't change, but I have no fixed entry or exit rules, you've got to adapt to what's happening. Taking this away is like driving blindfolded, keep your options open you need as many edges as you can get.
you are missing one point. chicky don't have enough time to take perfect entry , theory will work very well when play for short range but it's need lot of screen time, good think we are in positive without screen time .
Mohan
  • #579
  • Jan 23, 2012 10:21am Jan 23, 2012 10:21am
You missed my point. You can and should get a better entry system which will get much better results.


I trade with no screen time to thankfully i can trade off my phone
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #580
  • Jan 23, 2012 10:25am Jan 23, 2012 10:25am
I agree, we need a better entry system. But this is not an entry thread, though I do hope we'll get there some day, after Chicky has proven his point.
Fail better.
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