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COMMON SENSE
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Created: by mfbreakout Attachments:812

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COMMON SENSE

  #511 (permalink)
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mfbreakout View Post
I am wrong everyday in terms of timing, position size, price path etc. As far as how do i know if i am wrong from CONTEXTEUAL point of view?

CL has been in a bearish trend over last 5 weeks. If CL moves to the upside at least 2 days in a row outside her daily ATR, i will start thinking that maybe trend change is underway. CL ATR is about 160 -200 ticks. If it moves 400 ticks to the upside without any deep pullbacks, my disaster stop loss will be hit and i will have to rethink about CL being in a bearish trend.

If you are using a stop loss of 400 ticks and your average trade is 30-40 ticks from what I have seen from your screen shots then I hope for you that price never stops you out.

 
  #512 (permalink)
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mfbreakout View Post
150 ticks.

That for me is the same thing as trading without a stop loss.

 
  #513 (permalink)
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jsengxx2 View Post
That for me is the same thing as trading without a stop loss.

I have no interest in what it means to you and neither should you focus on what it means to me. You need to restart your old journal. From the last message you sent me, you are having great success with trading CL. There are lot of traders who can benefit from it.

" Hi mfbreakout,

I have been trading CL now for a couple of months now and with great success"



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
 
  #514 (permalink)
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mfbreakout View Post
I have no interest in what it means to you and neither should you focus on what it means to me. You need to restart your old journal. From the last message you sent me, you are having great success with trading CL. There are lot of traders who can benefit from it.

" Hi mfbreakout,

I have been trading CL now for a couple of months now and with great success"

Yes I have send you a question about the NQ vs TF, Iam looking for another market to trade beside the CL and sinds you trade different markets, I think I just had to ask you about it.

I made the question about the stop loss because there are people here on futures.io (formerly BMT) that are following your concept of using large or no stops and that is just the worst thing you can do. Iam not worried about what you do but instead worried about the people (newbies) that are coming here and reading your B*LL S**T.

Someone that had a journal in the elite section and now is doing the same thing in the free section is just doing this whit one thing in his mind and that is trying to make free publicity so you can be a vendor in the future.

About my journal you can read in this thread (https://futures.io/trading-journals/222-benefits-creating-journal-forum.html) why Im not picking it up.

 
  #515 (permalink)
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I hope I can help a bit.

Correct me if I am wrong but MFB uses a DISASTER stop only.

That does NOT mean that he waits for getting stopped out.

If he is wrong (due to context or whatever) he will close his postions with a "small" loss.


Shorting new daily highs with exhaustion is by the way the "right" thing.

Check out the old thread, I focused more than twice on these special exhaustion candles.

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  #516 (permalink)
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Trading

Jsseng XX2 has a distinct honor of getting put on ignored list TWICE. He keeps coming back for more- whatever he is looking for.

He sent me e-mails last year asking some questions while totally ignoring the fact or acknowledging his half ass logic. I answered his emails and took him off ignore list after a year. He just can not get out of his own way. Asking BigMike that "Ignore Feature" should be banned and on and on.

He constantly goes around complaining that there is not a single journal at futures.io (formerly BMT) the way he wants it. BigMike told him to move on and start his own journal. Last time, i looked he had $3000 in his SIM trading account. I do not have courage to calculate ROR someone has to get to trade full time and make a living. Trading to get extra income is good with this kind of account size but to make a living- No and No.

I just try to get 25-30% per year- if lucky.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.

Last edited by mfbreakout; September 25th, 2014 at 07:01 AM.
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  #517 (permalink)
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Balanar View Post
I hope I can help a bit.

Correct me if I am wrong but MFB uses a DISASTER stop only.

That does NOT mean that he waits for getting stopped out.

If he is wrong (due to context or whatever) he will close his postions with a "small" loss.


Shorting new daily highs with exhaustion is by the way the "right" thing.

Check out the old thread, I focused more than twice on these special exhaustion candles.

No guts No Glory.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #518 (permalink)
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NKD.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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COMMON SENSE-2014-09-21_1139_nkd.png   COMMON SENSE-2014-09-25_0615_nkd.png  
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  #519 (permalink)
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Trend

Why i have not taken a short in CC and neither have an interest in doing so. Longs and longs.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #520 (permalink)
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A fellow trader who trades with a relatively small trading account size had told me couple of times that it's much easier to swing trade Vs day trading especially with small equity account. I will look at stop loss required to swing trade and just could not grasp the concept. BigMike has talked about it extensively. At least in my experience, stop loss for swing trading is relatively small vs day trading. In day trading one has to avoid THE NOISE and lot of RANDOMNESS.

PL, CC,KC, ZW etc have no volume to go by. They consolidates for weeks and then trend in one direction for weeks. One just have to wait for weeks sometimes to get the set up. Not good approach for traders who need excitement and stimulation of day trading.

I decided to swing trades these and i am surprised to say the least.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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Last edited by mfbreakout; September 25th, 2014 at 09:06 AM.
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