NEVER LOSE AGAIN!! TheRumpledOne

[counter_violent]

Wer'e turning the corner on this thread now...some genuine interest to help take it forwards from bunny, north 5 and others. So can all the knockers at this stage take a backseat and let them develop it further so we can all see what happens.

Constructive comments welcome...as always

cheers
cv

 

[bunnygirl]

Hi John, I would love to put some people on ignore, but the only problem is then you can't correct statements like the following.

So to trade this method we use market orders and no stop loss?
Give me strength

NUN, where on earth did you get the idea that we arn't using stoplosses or is this a deliberate attempt to derail this thread? I havn't got an iggy list, so I'm putting you on my Green-eyed Monster list instead.

Bunny

 

[TheRumpledOne]

Tro - I see you're a musician. I was a professional musician and record producer for well over 10 years. I had over 75 singles releases before my market segement went up the Khyber.
Tell me, how do you react to criticism of your music because I can tell you that the criticism you'll get from punters and the press makes the 'slights' you are receiving here look pathetic in comparison, some punters will tell you point blank to your face that they think you (note YOU, not your music: they don't often differentiate) are sh*t. You have to grow a thicker skin or you find yourself out of the game sooner than you entered. If you put something out there you have to be prepared to be criticised.

First, I am NOT what I do. Even wrote a song about that.

It doesn't matter to me what others think about me. It's what I think and feel that matters.

When it comes to the band, I am a team player. I compare it to an American football team. The drums and bass are like the guards and tackles. The only time we get our pictures in the paper is when we get injured or commit a crime. The quarterback, running backs and receivers get all the press. But without guards and tackles who can do their jobs, the team doesn't win. I KNOW I am NOT the best bass player on the planet. That was never my goal. I just wanted to play and have fun. That's what I am doing. I am competent enough not to embarrass anyone that I perform with on stage. I am confident enough to NEVER BE INTIMIDATED no matter how big their name is. I don't get STAGE FRIGHT... The bigger the crowd the better. Do I make mistakes when I play? OF COURSE I DO... I'M HUMAN. But so does everyone else.

I know I am not a great player but I am in a great band and 56 DELUXE will go up against any other band on the planet. NO ONE HAS EVER WANTED TO FOLLOW US A SECOND TIME... NO ONE! We know what happens when we get on stage in front of a crowd and that's all that matters. I know KISS and AC/DC had their critics. THE REST IS HISTORY!

As far as trading goes, I know most, if not all of my critics, are SORE LOSERS. When they see someone else succeeding they lash out. Their egos have been crushed by the market. They can't stand the thought that someone else can make money when they can't.

I have been getting a hard time for years on the internet but I'm still here and don't plan on leaving anytime soon.

 

[bunnygirl]

I don't use EA's so I won't be ablt to contribute on that score, but here's the 5 min chart for the remainder of Friday.

5pm hit the target for 23 pips.

Apart from the 2pm hour which we already know had a 22 pip loss, the 6pm trade also would have been stopped at 1.2538 for a loss of 13 pips but this time there were only 2 red bars preceeding the entry so it would have been a genuine loss (entry was hit by 1 pip and didn't even clear the spread).

Also the 7pm trade failed to reach the target of 1.2542, it fell 5 pips short of it when the high of 1.2537 was reached for a possible 12 pips - in this instance would the "bringing the stop to b/e after more than 10 pips profit seen have saved taking a loss?

8pm hit first target of 27 pips without any problem, in fact it hit another 27 on top of that too.

9pm had a small target of 5 pips which got hit (bear in mind these are the dying minutes before the market closes for the weekend)

so all in all, I think it could have been around the 200 pip mark for the day.

Bunny

 

[bunnygirl]

I think 7pm should have taken a loss for -17 pips, because if stops are moved before the first target is hit then that's going to wipe out a lot of profits on other trades.

For instance look at the 8pm bar, yes it hit the 27 pip target, and yes it went another 27 pips on top of that....but....if you had moved your stop to b/e after 10 pips, then the first target would never have been taken, because the price turned at +12 and came back to beyond the entry level before turning again and hitting the target.

Bunny

 

[bunnygirl]

Another question that needs to be addressed:

What happens if an entry is hit, but then the price retraces during the same 5 mins to beyond the high / low of the bar? For example, picture this scenario - a new hour opens at 1.2540, the price goes a little higher to 1.2543 and then drops down through what would be the entry line at 1.2525. So far the stop should be at 1.2545 (2 pips beyond the high of the bar)...but what if after entry and during the same 5 mins the price retraces to beyond 1.2545?

I ask the question because looking at a 5 min chart in retrospect, the bar is closed and the high or low of the bar is known.

My suggestion would be to place an initial stop just beyond the line that's in the opposite direction to the entry, and then if that's not hit, to move it down to 2 pips beyond the 5 min bar as soon as it closes. Whilst watching it live on Friday, I didn't see this scenario happening, but that doesn't mean to say it won't happen, there's nothing to stop the entry being hit, and then to retrace beyond the bar and then to turn again in the right direction all in the same bar. But what can be seen clearly in the charts, that except for the 3 unprofitable trades at 2pm, 6pm & 7pm, the line in the opposite direction was never crossed before the targets were hit.


Also if you look closely at the unprofitable trades, by moving the stop to beyond the 5 min entry bar after it closes, this limits the size of the loss because it can be seen that none of the entry bars actually crosses the line in the opposite direction.

I'm sorry if I'm rambling a bit too much, but if you look at the chart in the above post, and look at the entries and what happens after bar by bar, what I say should become clear...if not feel free to ask

Bunny

 

[bunnygirl]

Of course you can see exactly how far a bar goes beyond the open, by the "tail" or "shadow"...the question is was the shadow seen before or after the entry was hit? So rather than the risk of getting stopped out before the 5 mins has even closed, I think it's wise to have an initial stop beyond the line in the opposite direction and then move it at the start of the next bar to where it should be.

Bunny

 

[zupcon]

Another question that needs to be addressed:

What happens if an entry is hit, but then the price retraces during the same 5 mins to beyond the high / low of the bar?

I ask the question because looking at a 5 min chart in retrospect, the bar is closed and the high or low of the bar is known.

Bunny

This very point was raised countless times over the last few days by the critics of the system, it's easy enough to pick the low of a bar in retrospect, a slightly different matter in real time.

This type of retrospective analysis is still a useful exercise in as much as it at least provides a ballpark figure for stops.

 

[TheRumpledOne]

This very point was raised countless times over the last few days by the critics of the system, it's easy enough to pick the low of a bar in retrospect, a slightly different matter in real time.

This type of retrospective analysis is still a useful exercise in as much as it at least provides a ballpark figure for stops.

Unless you are USING a system, why criticize it? Shouldn't your time be focused on YOUR winning system? Unless, of course, you don't have a winning system to focus on.

Hmmmm...........

 

[bunnygirl]

Unless you are USING a system, why criticize it? Shouldn't your time be focused on YOUR winning system? Unless, of course, you don't have a winning system to focus on.

Hmmmm...........

awwww TRO, Please don't start another argument. I already have my own winning system but I still have time to help with this thread because I think it has potential.

Zup, yes it has been brought up lately, that's why I'm trying to set some ground rules to resolve the issue.

Bunny

 

[zupcon]

Unless you are USING a system, why criticize it? Shouldn't your time be focused on YOUR winning system? Unless, of course, you don't have a winning system to focus on.

Hmmmm...........

Do you really want me to answer that ?, I will if you really insist

 

[TheRumpledOne]

awwww TRO, Please don't start another argument. I already have my own winning system but I still have time to help with this thread because I think it has potential.

Zup, yes it has been brought up lately, that's why I'm trying to set some ground rules to resolve the issue.

Bunny

Bunny, my response was an OBSERVATION. My intention is not to waste my time ARGUING.

My response wasn't directed at you.

I think you have a great attitude. You haven't attacked.

Perhaps you misunderstood me.

 

[bunnygirl]

Bunny, my response was an OBSERVATION. My intention is not to waste my time ARGUING.

My response wasn't directed at you.

I think you have a great attitude. You haven't attacked.

Perhaps you misunderstood me.

Thank you for the compliment but I didn't misunderstand. I was saying that just because people post on these threads doesn't mean to say they don't have a successful system of their own. My own is a mixture of ideas that I've incorprated as I plod along.

I don't attack anyone, I prefer to let things play out. Having egg on one's face is such a messy business don't you think?

Bunny

 

[johnlvs2run]

Hi John, I would love to put some people on ignore, but the only problem is then you can't correct statements

Like email, postal or telephone spam, census takers or skunks, it is easier to deal with such things by curtailing their activities. Any indication otherwise takes up more time and space, and would encourage their intentions.

It is better imho to put in a firm stop and sell them short with a strong exit strategy, i.e. the iggie green-eyed monster button works well and gets rid of them permanently. There are plenty of winners to make up for them in the long run. My 2 cents.

As to their statements, when they're iggied you don't see them.

 

[UKtradergirl]

Unless you are USING a system, why criticize it? Shouldn't your time be focused on YOUR winning system? Unless, of course, you don't have a winning system to focus on.

Hmmmm...........

It's the weekend. Have a day off trading. Relax.


...Come and have a good argument here instead.

TRO- how come Bunny is able to ask you lots of questions, yet back when i was asking questions i got in trouble for it? And how come you aren't telling her off for making it more complicated- you should be telling her 'see green, go long, take profit' surely?

Favouritism.

 

[UKtradergirl]

Like email, postal or telephone spam, census takers or skunks, it is easier to deal with such things by curtailing their activities. Any indication otherwise takes up more time and space, and would encourage their intentions.

It is better imho to put in a firm stop and sell them short with a strong exit strategy, i.e. the iggie green-eyed monster button works well and gets rid of them permanently. There are plenty of winners to make up for them in the long run. My 2 cents.

As to their statements, when they're iggied you don't see them.

That's alright- if you iggy me i don't mind. What counts is that other people coming here see a balanced view of things. You can't run away and hide just because someone has an opposing view or questions to ask on a matter.

 

[TheRumpledOne]

It's the weekend. Have a day off trading. Relax.


...Come and have a good argument here instead.

TRO- how come Bunny is able to ask you lots of questions, yet back when i was asking questions i got in trouble for it? And how come you aren't telling her off for making it more complicated- you should be telling her 'see green, go long, take profit' surely?

Favouritism.

Bunny has always asked politely. No nasty commentary when Bunny posts.

I don't recall Bunny ever attacking me.

Bunny has learned to SEE. That's the whole point of this thread which, I may add, is something that you can't SEE.

If Bunny has created something that works when Bunny trades, that is all that matters. I don't need to tell Bunny anything except GOOD JOB!!

UkTradergirl, perhaps you can set an example and take the weekend off.

 

[TheRumpledOne]

Do you really want me to answer that ?, I will if you really insist

How about I insist you stop posting in my threads and leave me alone.

I REALLY WANT YOU TO DO THAT!

 

[zupcon]

How about I insist you stop posting in my threads and leave me alone.

I REALLY WANT YOU TO DO THAT!

How about you start acting responsibly ?

 

[sweet pip]

HANDBAGS AT DAWN....!!!

Come on Ladies...let it go already :!: