Chicky's Trading Method Viewer

Intend to close 90 pips below current level, .........if sl survives.

Stoplosses in place

Closed major. It could bounce a spike

These tichoongrahns are very dangerous. I have to watch pa very carefully after a tichoongrahn forms.

Bought. Scalp

Looks like we will have to wait until friday before it moves.

Taking random trades to set a r/r ratio and estimate good stoploss pips for 20/40 pip profit target trades.

No. Short term is not the right timeframe for trading, good for entry and exit though.

Few stoplosses swallowed about 15% of equity. A winner would have fetched 10% to 20%.

Have to move to bigger timeframes, probably 1H and 4H or whatever timeframe shows a decent consolidation

Technically speaking, the buy level is 1.2961 and sell level is 1.2826. Anything in between is not Jesse

OK. Time to explain the Method.

1. Select a time-frame to trade on. In the begining, select one timeframe, but when you become "more" professional, select three to four timeframes to trade. This will provide more opportunity and diversify your risk.

2. Identify a trend in your selected time-frame. A trend is normally referred to when PA is making Higher Highs and Higher Lows (up-trend) or PA is making Lower Lows and Lower Highs (down-trend). There could be more than one visible trends on a time-frame. Select the biggest you can see on that time-frame. Now all the small trends in the opposite directions will be Retraces or Corrections of that main trend.

3. Now see if a trend has resumed after a Correction. If an uptrend resumes, let is make first HH, first HL and one more HH. Give a testing buy at a place where you think PA is forming a second HL. If your second HL forms and PA starts moving to form another HH..................... sell your hen and bet the money. Your hen will either turn into a goat or a frog. But if you wait until trend exhausts, your hen can also become a cow.

4. Vice versa for down-trends............... excluding hen, goat and cow

5. If you go for a trend reversal instead of a trend resumption, your hen can evolve back to a dinosaur.

Example:

Timeframe: Daily

Pair: EURUSD

Trend: Down (LL and LH marked green)

Chance: Trend Reversal (from the area marked red)

Exception: Its too early to take a chance of a trend reversal because it has not made even its first HH. Following the book, a short near 1.3150 was the right entry.

Why exception: Because I am impatient and greedy, and therefore may lose this trade. But I have some profits to bet on this chance.

Closed most.

The above chart reminded me of my risk.

Both of these are EURUSD Daily Chart.s

First look at these two charts, compare and then read my signature below.

http://www.forexfactory.com/attachme...1&d=1349115170


http://www.forexfactory.com/attachme...1&d=1349240922

Playing with accumulated profits in this nowhere to go market before NFP.

Working to see what happens if I manage the leverage without looking at the price and even my account balance.

That is so mechanical that first time in my life I feel need of developing an EA.

If I look back, the prime reason of my major losses is not been able to manage the leverage. One reason why I lost heavily despite being right about the market. As much I think, it provides me reasons for many other mistakes or lost opportunities.

This research is based on the principles of Jesse Livermore's money management tactics.

Following this tactic is not at all an issue in trending market, whether, its going in favor or against. But I need to calculate how it works in ranging markets. If I am correct, most legendary traders made money in trending markets, but when it started ranging, they started losing.

Few years ago, a guy on Forex Factory gave me a trading method taking a promise that it should never be disclosed. He claims that this method made a billion dollars (This is what he claims, I don't know if that is true or not). That person is long gone from Forex Factory after attacked by some ignorant members. I remained in touch with him over my private email. He not only explained me this method but taught me how to use it. I may not be a very judicious person, but try to keep my promises. Without discussing the details of this method, just want to let you know that I did my own research and found out that this is the only method I know that is equally good in both trending and ranging markets. What I mean that there are many systems that are good either in a ranging market or a trending market but its very rare to find a method that is equally good in both types of markets.

What I conlcude is that managing one's leverage helps developing a system that is equally good in ranging and trending market. The only issue I find in this is that one has to move to longer-term trading to implement this.

I find short-term trading very profitable, but it has many limitations. Longer term trading may not be as profitable, but it has less limitations. Short term trading is a constant stress and therefore a noise in one's life.

Good thing about trading is that one can use its basic principles in any business. I encourage youths reading this to spend much time on something more constructive and less on trading by adopting longer-term trading.

You may switch to shorter term later in your life when it becomes difficult for you to differentiate whether it is a fart or something else and therefore should take or not a chance of spoiling your underwear and pants.

Cannot fight with what pa is trying to do.

It is supposed to hit that yellow spot, but seems that it is changing its mind.

Either it will come down to hit that yellow spot or may continue up.

A coin toss. Taking chance on longs. Not setting sls for two reasons: 1) the next move will be so volatile that normal sls will get hit anyway, and 2) safe sls level falls below my margin call, so lets margin call be the stoploss.

If it goes in my direction, good profits, if not, some loss. Not a bad situation.

A short scalp

It normally settles at x.xx25 before session start and that 25 is below the belt

Back to orginal long position, but watching

Carrying 5 long lots.

Later

Closed logs. A short scalp, now at BE

1.2986 is the key level now. More short-term levels in this chart.

Closed scalp. Now watching

1.2941 seems to be a good level to try a long