## MightyOne 2013

If you don't know where to start, start here! Don't be afraid to ask questions.

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judokamak
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MO could you explain the difference in formulas?

Humble
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Copy and pasted both lines from your post:

Much closer but still not the same.

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

MightyOne
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judokamak wrote:MO could you explain the difference in formulas?

Sure =)

The open is the 618 of the prev. body instead of the midpoint.

The dragon close is:

(the midpoint of the prev. candle weighted to the OPEN + the midpoint of the current candle pulled towards the CLOSE) and then the midpoint between the two prices.

Originally it was simply HL/2 = CLOSE

Now it is (OHL/3[prev.] + HLC/3[current]) / 2

//---Dragon-Ashi OPEN---
haOpen = ((ExtMapBuffer3[pos+1]*6.18)+(ExtMapBuffer4[pos+1]*3.82))/10;

//---Dragon-Ashi CLOSE--
haClose= (((Open[pos+1]+High[pos+1]+Low[pos+1])/3)+((High[pos]+Low[pos]+Close[pos])/3))/2;
Last edited by MightyOne on Fri Apr 12, 2013 6:49 am, edited 1 time in total.

MightyOne
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Humble wrote:Copy and pasted both lines from your post:

Much closer but still not the same.

Probably because my chart is FXCM.

Humble
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Ok, it's not that different so I'm guess we have the same start time. GMT+2.

Just watching price move prior to the London open.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

MightyOne
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Remember that a triangle IS A RANGE/CHANNEL so anything that looks like a breakout IS NOT part of the triangle; that is the trick to drawing them!

MightyOne
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You don't have to be a savant to make money as a trader:

MightyOne
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So what are the key ideas that brings immediate success?

1)
Bodies show the way, wicks show not the way.

If price is generally higher then it is probably not going down.

S&R is always something that was overcome, not something that stands in your way.

Or, as TRO would say, "all you need to trade is a horizontal line".

2)
If you can see loss then you can see profit; this is the essence of the zero line...
zero profit for all of your hard work; you should have mastered where this is by now

I see many people trying to technically define a zero line...come on now.

3)
Your stop is an "entry" on a long term chart.

Maybe you went short on a 15 minute chart and are sitting with 40 pips in open profits wondering if you should hold for 70 or even 100 pips...
CHECK YOUR STOP on your large chart <---> & if it is in a poor location then don't even think about holding.

At a minimum you should liquidate and place your stop at a good location and then enter on a retrace when price moves to within 40 pips (your profit) from your stop.

4)
Trade small charts with small size and large charts with large size.

You are most vulnerable on a small chart
one little lightning bolt of volatility and you bleed a percentage of your account; -0.4% is ok, -4.0% is not kewl.

The chart that you are trading is determined by your stop placement...
NOT the chart that you are looking at!

How do you trade large size on large charts?
You enter on small charts (remember that the stop determines the time frame).

5)
Take chances on small charts the moment you believe something is going to happen & do not wait for technical confirmation.

Any loss is unlikely to cripple your space where as successful runs, with small size, on a small chart, can mean a larger lot size from a long term extreme.

Enough is enough:

If the money is not coming easy then stop trading the small chart and move up up up to a larger period with the remainder of your space.

You should have the feeling of "I can do no wrong" when you are trading a small chart.

6)

No, a plan is not a stop loss and take profit.

No, don't write down a list of rules.

New data means a new plan; update or die!
If you didn't plan to liquidate then don't let the current candle scare you out of a trade.
When the current candle becomes past data then you can make a new plan that takes it into consideration.

If you get a freak candle, on a small chart, then consider your long term position; hold if at all possible, your last resort is giving your money away.

When in profit or with a small loss is the time to think about giving up on a trade.
Again, I'd rather make it a long term trade than take a large loss (drum roll please) ----> and that is why I consider locations around long term extremes BEFORE placing a trade...
that is why I trade small size on small charts!

Ponder this

judokamak
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i ve been using DA on 30 min charts this week and i must say, for someone who tends to get in the trade to early and who tends to leave much pips on the table i find this very helpfull indeed!

- find extremes-s/d on big TF-s 1h+
- Wait for a price to get there
- Wait for a change in DA colour
- Find Z-line in smaller tf (15, 30 min)
- Execute of the smallest tf (5 min)

This is what i have been doing.

MO this quote made me think:

"Take chances on small charts the moment you believe something is going to happen & do not wait for technical confirmation."

So basicaly you r saing when price gets to your horizontal line, enter your (pre planned) trade?

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//---Dragon-Ashi OPEN---
haOpen = ((ExtMapBuffer3[pos+1]*6.18 )+(ExtMapBuffer4[pos+1]*3.82))/10;

Fibonacci Magical Mushroom Numbers LOL
Life is just a journey