MightyOne wrote:newark18 wrote:What is a "No T"? No Trade?
Defensible No T if something bad happens = Target BE if there is a close against your S&R line?
The concept of adding positions is slowly seeping into my head but I have a really really thick skull.
Never ever EVER ever EVER ever EVER ever will you hear me say target break even.
I have always said that you either take a profit or you take a loss.
Adding/subtracting = adjusting a position:
Let us say that price stayed locked at 1.5000 and we went long 7 lots with a 20 pip pincushion that = -4.5%.
We consider ourselves long from 1.4980 (No T or No Touch) with a pincushion of 20 pips.
If price doesn't change and we alter our position size then we change the number of pips that = -4.5%:
(7/9) * 20 = 15.5555p w/ 9 lots
(9/5) * 15.5555 = 27.9999p w/ 5 lots
(5/7) * 27.9999 = 19.9999p w/ 7 lots
(7/14) * 19.9999 = 9.9999p w/ 14 lots
(14/20) * 9.9999 = 6.9999p w/ 20 lots
(20/7) * 6.9999 = 19.9999p w/ 7 lots
Our starting position is 7 lots with a 20p pincushion, price moves 11 pips in our favor, and we decide to [s]add[/s] adjust to 9 lots:
(7/9) * (20+11) = 24.1111 pips from the current price.
If price is at 1.5011 when we adjust to 9 lots then we consider ourselves long from 1.4987.
Lets say that I go long at 1.5000 with 7 lots and a 20p pincushion and price closes 9 pips against me.
Adjusting from 7 lots to 4 would bring me back up to 19.25p as (7/4) * 11 = 19.25 and 4 lots over 19.25p = -4.5%.
Wow now I see what your short hand means I'll plug that into
excel and figure out how to use it in my trading.
Actually I have been studying (vanilla)options and have been thinking
about using them as an entry at daily zlines. Can't get stopped out that
way. Still a work in progress.