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 (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?
I should be trading a chart with 5yr candles.