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Amazing Black Magic Trading Method

  • #521
  • Sep 25, 2012 10:54am Sep 25, 2012 10:54am
Some short term levels.
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The Thief of Wall Street
  • #522
  • Sep 25, 2012 5:56pm Sep 25, 2012 5:56pm
here was the Heureka

"In nut shell, we are almost there.

1. We know how he calculated price to plunge
2. We know what timeframes this method can work on
3. We know how he managed his money

All we now need to do is to do as he did."

And here : "I recall what happened. I found only one Jesse Livermore set-up during this week. "

wow, so, how it works?

As I can see you are using tight stops, but not Jessie setups, but yours.
More than 50% of your trades are closed in lost, probably tight SL, how much, I am checking the trades and I would like to figure out, but it seems I can't, could you write a short resume of the system please?
I want to buy PATIENCE
  • #523
  • Sep 25, 2012 8:50pm Sep 25, 2012 8:50pm
Quoting matheszabi
here was the Heureka

"In nut shell, we are almost there.

1. We know how he calculated price to plunge
2. We know what timeframes this method can work on
3. We know how he managed his money

All we now need to do is to do as he did."

And here : "I recall what happened. I found only one Jesse Livermore set-up during this week. "

wow, so, how it works?

As I can see you are using...
God post. Your are right. Only one Jesse setup and that too not fully utilized.

I recall writing manytimes that I doubt the only success factor of Jesse's method was Money Management.

I tried to use his money management technique, but could not use it even once.

I also did not use his timeframe

That makes it: Then what the hell I did?

1. All I tried to do is to keep my drawdowns as small as possible.
2. Entered and exited based on 5M PA reading (Feel good/feel no so good indicators).
3. Tried to plunge, but succeeded only once in plunging

That all boils down to money management and knowing how pa behaves. I took wild risks in my first endeavor to double the account. It doubled, but I was not satisfied. This time, it doubled too, but based on some principles may not be a definite method like you mentioned.
The Thief of Wall Street
  • #524
  • Sep 25, 2012 9:01pm Sep 25, 2012 9:01pm
Quoting matheszabi
here was the Heureka
............................. could you write a short resume of the system please?
LOL. Definitely. I will be later posting an ideal setup and way to trade that based on what we have learnned in this experiment
The Thief of Wall Street
  • #525
  • Edited 9:48pm Sep 25, 2012 9:31pm | Edited 9:48pm
Quoting Chicky
LOL. Definitely. I will be later posting an ideal setup and way to trade that based on what we have learnned in this experiment
OK. Here it is:

1. Manage your risk. Do it the way you like it, good r/r, moving to BE, cutting losses short, etc.
2. Manage your risk. Do it the way you like it, good r/r, moving to BE, cutting losses short, etc.
3. Manage your risk. Do it the way you like it, good r/r, moving to BE, cutting losses short, etc.

Ideal set-up. There is non. They all keep on changing after few minutes. However, I rely on this sequence:

HH-LH-HH-LH-................ tell me what will be next?

LH-LL-LH-LL .................. tell me what will be next?

If you replied to any of these questions, and if that answer is not "I don't know" its a proof that market provides more than 50% chance.

Here is one such set-up.

On the left is crap that I struck off. Then we have HHs and HLs. It shoud go either 50% of previous h/l, 100% or 150%. Keep on adding until it is below that 50%. If you lose, will lose little. But if you gain will gain much. Jesse plunged when it started going in his direction and never closed until it started making LHs and LL in an uptrend.
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The Thief of Wall Street
  • #526
  • Sep 25, 2012 9:39pm Sep 25, 2012 9:39pm
Quoting Chicky
OK. Here it is:

1. Manage your risk. Do it the way you like it, good r/r, moving to BE, cutting losses short, etc.
2. Manage your risk. Do it the way you like it, good r/r, moving to BE, cutting losses short, etc.
3. Manage your risk. Do it the way you like it, good r/r, moving to BE, cutting losses short, etc.

Ideal set-up. There is non. They all keep on changing after few minutes. However, I rely on this sequence:

HH-LH-HH-LH-................ tell me what will be next?

LH-LL-LH-LL .................. tell me what will be next?

If you...
............ and this is where I plunged on my real penny account.
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The Thief of Wall Street
  • #527
  • Sep 26, 2012 2:57am Sep 26, 2012 2:57am
Quoting Chicky
............ and this is where I plunged on my real penny account.
It is proven you are doing well, at least on lower timeframe.
I got out in a daily /4h chart, because I couldn't see a clear direction for the next day, on those cases is better to enter in lower timeframe, where aren't trends just noise, imho, and catch a few fish to have something for dinner.

In your penny account example you did exactly the inverse what I would do: My believe is the "trend" want to go down, but no steam for that, and can't go up, because he want to go down I would jump in the main trend direction ( down) even if the Support is touched 3 times and bounded from there.

And the trillion dollar question: what could be the sign for this isn't a retacement , but it is a new trend? A New LL? what about fake breakouts?
I want to buy PATIENCE
  • #528
  • Sep 26, 2012 11:10am Sep 26, 2012 11:10am
Quoting matheszabi
It is proven you are doing well, at least on lower timeframe.
I got out in a daily /4h chart, because I couldn't see a clear direction for the next day, on those cases is better to enter in lower timeframe, where aren't trends just noise, imho, and catch a few fish to have something for dinner.

In your penny account example you did exactly the inverse what I would do: My believe is the "trend" want to go down, but no steam for that, and can't go up, because he want to go down I would jump in the main trend direction ( down) even if the Support...
You were right. I lost a lot following that HH and going long. But this is why we have this money management.

Now consider this. If we follow lower timeframes and go where pa goes, will always be in the right direction. If pa goes far far away we are good. if not, we lose few pips.

Fake breakouts should be of no concern. Because we play them exactly as we play genuine break outs. If we book some profit soon after a break out occurs, we don't have to worry if it proves a false one.
The Thief of Wall Street
  • #529
  • Sep 27, 2012 11:25am Sep 27, 2012 11:25am
A good Jesse Livermore setup is developing.

Wait until this 1H trend breaks and it starts making HHs and HLs
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The Thief of Wall Street
  • #530
  • Sep 27, 2012 11:33am Sep 27, 2012 11:33am
Quoting Chicky
A good Jesse Livermore setup is developing.

Wait until this 1H trend breaks and it starts making HHs and HLs
You want big money or sure money?

Wait until this trend is completely broken. New trend may take a couple of days to develop but this patience will pay good.
The Thief of Wall Street
  • #531
  • Sep 27, 2012 11:44am Sep 27, 2012 11:44am
Chicken

Your Equity curve resembled a jumbuck scuffing a bull by the horns and forcing into into something it really doesn't want to do

Time hides Nothing
  • #532
  • Sep 27, 2012 1:23pm Sep 27, 2012 1:23pm
Quoting CindyXXXX
Chicken

Your Equity curve resembled a jumbuck scuffing a bull by the horns and forcing into into something it really doesn't want to do

What else can you expect from a Chicken?............................. but at least its not like a headless chicken.

I am currently focusing on my penny real account, and the equity curve on that one is really a mess........... no body there to watch me what I do to that account.

Seriously speaking: I am now taking trades based only on modified Jesse Livermore method on my real account. It is currently at $40 and when grows to $100 will post here.

Meanwhile, it's not a bad idea to continue that demo, so that people don't think I am afraid of losing those gains. Waiting for the right moment to resume demo trading on the above explorer. But the time is not right at the moment. Like Jesse said his real success came when he combined his method with the timmings of the trades.

Hope for my success, it is for all of us.
The Thief of Wall Street
  • #533
  • Sep 27, 2012 1:48pm Sep 27, 2012 1:48pm
This current 1H down trend is still very much intact. May take few days before we know if its broken.

You want big money or sure money?
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The Thief of Wall Street
  • #534
  • Sep 27, 2012 4:39pm Sep 27, 2012 4:39pm
Quoting Chicky
This current 1H down trend is still very much intact. May take few days before we know if its broken.

You want big money or sure money?
Nice work Chicky. Good to see you implementing it JL's style. Just on a side note...it's broken already...except a reversal of a reversal occurs.

Kindest regards,
Motion
Don't just beat the markets, leave bruises.
  • #535
  • Sep 27, 2012 4:52pm Sep 27, 2012 4:52pm
Quoting Chicky
What else can you expect from a Chicken?............................. but at least its not like a headless chicken.

I am currently focusing on my penny real account, and the equity curve on that one is really a mess........... no body there to watch me what I do to that account.

Seriously speaking: I am now taking trades based only on modified Jesse Livermore method on my real account. It is currently at $40 and when grows to $100 will post here.

Meanwhile, it's not a bad idea to continue that demo, so that people don't think I am afraid...

Nice grab on the last leg, hope you have much success with the method

Gl
Time hides Nothing
  • #536
  • Sep 27, 2012 5:38pm Sep 27, 2012 5:38pm
Quoting CindyXXXX
Nice grab on the last leg, hope you have much success with the method

Gl
Thanks. Think I have got it all right. Let's see how it works.

Waiting for the right time. Logically it should not fail. Jesse was right 9 out of every 10 times. If I am right 3 or 4, it should still show some profit. But sitting on the sideline is one painful requirement of this method
The Thief of Wall Street
  • #537
  • Sep 27, 2012 5:39pm Sep 27, 2012 5:39pm
Quoting Motion
Nice work Chicky. Good to see you implementing it JL's style. Just on a side note...it's broken already...except a reversal of a reversal occurs.

Kindest regards,
Motion
Jesse went for the reversal. It is just broken yet.........
The Thief of Wall Street
  • #538
  • Edited 6:14pm Sep 27, 2012 5:49pm | Edited 6:14pm
Quoting Chicky
Jesse went for the reversal. It is just broken yet.........
Look at this chart. It still hasn't made a higher high. Jesse entered after it made two higher highs and one lower high at minimum. He also focused on bigger charts (his black red lines in Upward / Downward Trend column). But we are focusing only on one 1H trend. We should at least make sure it starts moving in the opposite direction. This is least we can do.

Ps. Somone knocked at the door couldn't finish.

You can see those green dots are the Lower Highs. We still have not made a Higher High. The last level marked with Yellow Arrow seems to be a high, but its not.
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The Thief of Wall Street
  • #539
  • Sep 27, 2012 9:08pm Sep 27, 2012 9:08pm
Entered a testing long.
The Thief of Wall Street
  • #540
  • Sep 27, 2012 9:11pm Sep 27, 2012 9:11pm
Quoting Chicky
Entered a testing long.
Now at BE
The Thief of Wall Street
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