Hangaround Lounge

everything that doesn't belong elsewhere cometh here

Moderator: moderators

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Sat Dec 18, 2010 4:53 pm

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 :shock: 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. :idea:
Trade Your Way as Long as It Makes Money!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sat Dec 18, 2010 10:56 pm

cwn6161 wrote:
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%.


The goal then is just to adjust your pincushion to represent the same amount of pips (more or less) continually as price moves in the direction or profit (or loss) until you can no longer adjust your size and are stopped out, or your pincushion size reaches the size of the highest retracement on the TF you're trading?



No, the goal is to size your trade according to what is needed at the time and max out when there are hundreds of pips between your position and the current price.

What happens if you have a 20p pincushion and you enter at 1.5000 with 7/0 (American Hedge)?
You are left with a pincushion that rides the current price by neither expanding nor contracting.

7 lots over 20p = your risk percent but nothing says that you cannot enter with 5 lots and x% spread over 28 pips.

What, I have options!? :shock:

Yes, you have the option of having a starting position:

7/6 w/ 23.3, 7/5 w/ 28, 7/4 w/ 35, or 7/3 w/ 46.6p

from the current price.

Lets say that you enter another American hedge at 4/0.

Now you have a pincushion that rides the current price by 35 pips and neither expands nor contracts.

At 4/4 + 10p profit you have a 45p pincushion which is 36p with 4/5 and 36p used elsewhere at 5/0.

Again, it is your money and you can do whatever you want with it including trading something like Forex and then moving parts of your cushion to stocks where $25,000 of AAPL at $8/share is worth over $1,000,000 today.

It would look like this:

You have $100,000 profit with 7 lots and you would like to buy AAPL stock.

(7/14) * 100,000 = $63,636

You reduce your cushion to $63,636 and stay at 7 lots.

Then you take the $36,364 and buy 4,545 shares of AAPL at $8 and Forget about it for a really really long time :wink:

One day you just might open up your stock platform and see AAPL at $320/share and $1,454,400 in your account...

Then again maybe not :lol: but it is yet another option to show you that you are only limited by your own ideas.

User avatar
pablo101
rank: 500+ posts
rank: 500+ posts
Posts: 841
Joined: Tue Jun 30, 2009 3:10 pm
Reputation: 0
Real name: Pete
Gender: None specified

Postby pablo101 » Mon Dec 20, 2010 3:51 pm

Some nice trades with at 3X custom candles, still working towards the longer tf targets

Image

Image

:lol: :lol: :lol: CC is for me and I forsee a good year coming up.

Thank you to the regular kreslik crew for all the help this 2010.

Merry Christmas and a Happy New Year to all!

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Mon Dec 20, 2010 8:21 pm

pablo101 wrote:Some nice trades with at 3X custom candles, still working towards the longer tf targets

Image

Image

:lol: :lol: :lol: CC is for me and I forsee a good year coming up.

Thank you to the regular kreslik crew for all the help this 2010.

Merry Christmas and a Happy New Year to all!


Very nice trading pablo101 and Merry ~ Christmas to you.

User avatar
Shinobi-X
rank: 50+ posts
rank: 50+ posts
Posts: 95
Joined: Mon May 18, 2009 2:38 am
Reputation: 0
Location: SOHO
Gender: Male

Postby Shinobi-X » Tue Dec 21, 2010 3:21 am

pablo101 wrote:Some nice trades with at 3X custom candles, still working towards the longer tf targets

Image

Image

:lol: :lol: :lol: CC is for me and I forsee a good year coming up.

Thank you to the regular kreslik crew for all the help this 2010.

Merry Christmas and a Happy New Year to all!


CONGRATS to you!
i think every idea MO presented to us is gold.
Merry Christmas and Happy New Year to you too :)
The gap between reality and dream is called action.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
bacoazul
rank: 150+ posts
rank: 150+ posts
Posts: 259
Joined: Wed Sep 30, 2009 12:31 pm
Reputation: 0
Gender: Male

Postby bacoazul » Tue Dec 21, 2010 7:21 pm

This past tree weeks has been crazy,
i'm really happy with my trades, the
only prolematic was USDCAD, but
well, i can't win all the time (not yet ).
I close my trades on EU already, overall
like +900, plus the other trades, it was
pretty good.




Feliz navidad a todos en kreslik
y prospero 2011
These are my principles. If you don't like them, I have others.

User avatar
Libertarian
rank: 50+ posts
rank: 50+ posts
Posts: 133
Joined: Tue Nov 30, 2010 6:32 am
Reputation: 0
Location: Shippensburg PA
Gender: None specified

Postby Libertarian » Sun Jan 02, 2011 9:13 pm

bacoazul wrote:This past tree weeks has been crazy,
i'm really happy with my trades, the
only prolematic was USDCAD, but
well, i can't win all the time (not yet ).
I close my trades on EU already, overall
like +900, plus the other trades, it was
pretty good.




Feliz navidad a todos en kreslik
y prospero 2011


Hi Bazo, I was just wondering if you could clairfy for me, was your entry the horizontal line or the red arrows? Thanks in advance.

User avatar
Sandra
rank: 50+ posts
rank: 50+ posts
Posts: 50
Joined: Wed Jan 05, 2011 3:44 pm
Reputation: 0
Gender: Female

Postby Sandra » Wed Jan 05, 2011 4:00 pm

Hi everyone, im new to forex and have been reading Mo, dragon, post and trying to learn.

Im so confused, can someone help me by answering these questions?

Ok, Mo uses CC and momo bars. Momo bars are bodies twice the size of the previous bar?

Bodies show the way? Does it have to be a Momo bar?
A zero line is the top of a short Momo bar?( where profits are zeroed)?

Dragon uses hourly overlays, is that the same as a CC(CC dont have wicks)?
Are Dragons and MO's trading styles two different, is that why I cant get this, is because im confusing and combining them?

Somewhere I read, you can trade off 5 candles, no more, is that due to seeing the bodies show the way?

Im so overwelmed...I dont know what to do now?


please bare with me,

Sandra :( :wink: :wink: :wink:

cwn6161
rank: 150+ posts
rank: 150+ posts
Posts: 276
Joined: Sun Feb 28, 2010 8:05 pm
Reputation: 0
Gender: None specified

Postby cwn6161 » Wed Jan 05, 2011 4:39 pm

To keep things simple for now, yes momo is 2x the size of the previous bar.

The "Mighty Zone" is the area where ANY zeroline can be drawn. The MZ area starts at the breakout of the momo candle, and roughly ends at the momo candle's 50% mark.

All bodies show the way, but you must look at them in context of other candles. Momo candles will show a larger way than non-momo.

About the 5 candle rule - when analyzing a chart, candles become less important the further they are away in time. I think this was a general suggestion to keep people from looking too far back for some significance.

MO and Dragon have different entries, but follow the same principles. Zlines are really a way of looking at how the market functions. Yes, they can be used as signals and as entries, but they weren't shown specifically to be that.

Coming from someone who is still learning, make your focus to understand how zlines and zones work. Look at how profit is made, taken away, and made again. Once you have a good grasp of that, then look at using zlines as an edge to trade with.

cwn6161
rank: 150+ posts
rank: 150+ posts
Posts: 276
Joined: Sun Feb 28, 2010 8:05 pm
Reputation: 0
Gender: None specified

Postby cwn6161 » Wed Jan 05, 2011 4:39 pm

Double post.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “general”