A fresh start! Doji's Trading Journal

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prochargedmopar
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Postby prochargedmopar » Sat Nov 10, 2012 7:09 pm

prochargedmopar wrote:
paweldobkowski wrote:im fckn slow
i dont get space at all
i thought i did

can somebody point me to a place where i can start with that concept?
or maybe someone wants to explain it here in few simple sentences :wink: (its not going to happen, i know)


"space" is a way to say, I want to make 20%/50%/100% or whatever on my acct and there is no such thing as LOSING until my initial risk of X% is gone.

"space" is a way to ADD to a winning position(or series of winners) so that you can attain your goal of X% without having to get a 20,000 pip move.

So, if you make some pips and add that amount to your lot value for the next trade, you can get to your goal quicker.........OR

Once you are holding substantial profit in a trade you can add lot size (which moves your X% maximum loss line closer to current price)

That's it. but FIRST you cant be a freak, have fear of losing your paltry 2% initial risk(or whatever it is), and you need to understand the basics of price channels/sup/res

So in review,
Find a big ass channel (1000+ pips or more) and trade from one EDGE to the other.
If you start with 2% risk and 100 pips "space" you can use 5-20 pip tries, 2-50 pip tries or what ever you see fit to get the bad boy moving toward the other side of the channel. Add lot value along the way (preferably on retraces) and you'll get to your original goal of X%

OR lose your 2%, 1% or what ever you started the sequence risking.

This is the important part:
Have a TARGET.
Commit to the TARGET.
I'll say it again.
but FIRST you cant be a freak, have fear of losing your paltry 2% initial risk(or whatever it is), and you need to understand the basics of price channels/sup/res

That last part of the statement may not even be true, just find a target and get there by way of the biggest lots possible.

MY OPINION IS THAT PEOPLE WHO TRADE "SPACE" HAVE A STRONGER NEED TO BE RIGHT THAN MOST, THE LONGER THE TIMEFRAME YOU TRADE THE MORE INGRAINED YOUR NEED TO BE "RIGHT".

Ask MO or Bredin the last time they have "LOST".

They will answer with YEARS because that's how long it's been since they have lost their initial "space".
It's a BRAIN thing but it's also VERY PROFITABLE, which is why we are suppose to be trading anyway. right?


BTW,
I should be trading a chart with 5yr candles.
;)
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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MightyOne
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Postby MightyOne » Sat Nov 10, 2012 7:56 pm

prochargedmopar wrote:
prochargedmopar wrote:
paweldobkowski wrote:im fckn slow
i dont get space at all
i thought i did

can somebody point me to a place where i can start with that concept?
or maybe someone wants to explain it here in few simple sentences :wink: (its not going to happen, i know)


"space" is a way to say, I want to make 20%/50%/100% or whatever on my acct and there is no such thing as LOSING until my initial risk of X% is gone.

"space" is a way to ADD to a winning position(or series of winners) so that you can attain your goal of X% without having to get a 20,000 pip move.

So, if you make some pips and add that amount to your lot value for the next trade, you can get to your goal quicker.........OR

Once you are holding substantial profit in a trade you can add lot size (which moves your X% maximum loss line closer to current price)

That's it. but FIRST you cant be a freak, have fear of losing your paltry 2% initial risk(or whatever it is), and you need to understand the basics of price channels/sup/res

So in review,
Find a big ass channel (1000+ pips or more) and trade from one EDGE to the other.
If you start with 2% risk and 100 pips "space" you can use 5-20 pip tries, 2-50 pip tries or what ever you see fit to get the bad boy moving toward the other side of the channel. Add lot value along the way (preferably on retraces) and you'll get to your original goal of X%

OR lose your 2%, 1% or what ever you started the sequence risking.

This is the important part:
Have a TARGET.
Commit to the TARGET.
I'll say it again.
but FIRST you cant be a freak, have fear of losing your paltry 2% initial risk(or whatever it is), and you need to understand the basics of price channels/sup/res

That last part of the statement may not even be true, just find a target and get there by way of the biggest lots possible.

MY OPINION IS THAT PEOPLE WHO TRADE "SPACE" HAVE A STRONGER NEED TO BE RIGHT THAN MOST, THE LONGER THE TIMEFRAME YOU TRADE THE MORE INGRAINED YOUR NEED TO BE "RIGHT".

Ask MO or Bredin the last time they have "LOST".

They will answer with YEARS because that's how long it's been since they have lost their initial "space".
It's a BRAIN thing but it's also VERY PROFITABLE, which is why we are suppose to be trading anyway. right?


BTW,
I should be trading a chart with 5yr candles.
;)


I reduced my largest chart to the quarterly and increased my weekly chart to 9 days.

The last time I 'lost'? I lost my space one time in 2011.

It is not so much a need to be 'right' as it is a need to get her done
in as few strokes as possible ;)

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es/pip
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Postby es/pip » Sun Nov 11, 2012 4:03 am

" It is not so much a need to be 'right' as it is a need to get her done
in as few strokes as possible "--- MO


You should put that on a t-shirt.

probably make millions.


8)
Bend over and assume the position for another 4 years of hope and change.

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Postby MightyOne » Sun Nov 11, 2012 4:07 am

You have my blessing to take the quote and make millions for yourself ;)

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es/pip
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Postby es/pip » Sun Nov 11, 2012 4:21 am

Wouldn't feel right about doing that.

I will split it with you.

:D
Bend over and assume the position for another 4 years of hope and change.

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Postby PebbleTrader » Sun Nov 11, 2012 1:25 pm

SPACE:

Think of it in terms of extreme logic:

Take 1% of your account

If you take a position in the market with 1 lot, than your stop loss will be REALLY LARGE, right?

If you take a position in the market with 100 lots, than your stop loss will be REALLY TIGHT, right?

That's all there is to understand. It's the inverse relationship between space and lot size.

A space fortress is how you start out. Just like a fortress in real life, an enemy will not be able to do much damage to it. Your fortress is thy shield/defense.

Your offense is how you defeat your attacking enemy...

What I call God Mode is an excessive amount of space (Huge fortress) and lots (Lot's of weapons), for the time frame it is based on (stats) :)

------------------------------------------------------------------------

Side note, I have come across some really powerful information which I will create a new thread for us to learn.

I think I have a remedy for some of the problems we are seeing in the world.
Life is just a journey

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Postby Neo88 » Sun Nov 11, 2012 2:58 pm

PT explained it well above

I would add that you gain space either by price moving in your way or by reducing your lot size

I never came across this concept beside here; I would like to know more for sure :)
A man must believe in himself and his judgment if he expects to make a living at this game. - Jesse Livermore

Humble
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Postby Humble » Mon Nov 12, 2012 2:52 am

Is price closing higher or lower than something? Simple yet powerful question. ..MO

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Postby dojirock » Mon Nov 12, 2012 3:23 am

Thanks Humble,

Ready for a new week!
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eulong.gif (17.32 KiB) Viewed 389 times
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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prochargedmopar
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Postby prochargedmopar » Mon Nov 12, 2012 4:34 am

dojirock wrote:Thanks Humble,

Ready for a new week!


Still chasing price I see.

I know, waiting for the proper entry can be a bitch~~~
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ChasingPrice.png
ChasingPrice.png (60.17 KiB) Viewed 381 times
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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