prochargedmopar wrote:MightyOne wrote:Mira wrote:
Thanks MO
I didn't get what you're saying about position sizing
...
I marked this 30 minute chart for you Mira.
The idea is simple, the older the data the larger the chart & the larger the chart the wider the lines.
Your entry line on the H1 zone could be one H1 line below the H4 zone and that would look good.
Be ever mindful of the sum of your risk-box and how many segments that you are putting at risk; if you can
do this one thing then you can risk your money however you see fit.
EIGHTS tricks you to managing your money well:
Before you might have risked 2% per trade but the risk-box forces you to break it up into say 8 segments of .25% of which you will risk around
2 segments or .5%
Before you might have spread your risk over 10 pips but the segments force you to trade a width based on price movement and age of data.
Before you might have took partial profits at 2.5 pips where as now you look at it as 2.5/10 pips or 25% of your zone (.5 lines)
for_Mira.png
If you feel that you could write a book on how to use pitchforks then by all means use them, but if you are just learning then I would suggest that you stick to horizontal lines and focus on managing your money.
Would I have put this magic angle on my chart? Sexy as it is, no I would not.
& there are a great many ideas from the past that I have set aside in favor of T-R-O.
for_mira2.png
Risking 0.25% is great if your pulling in 10-20r like V8.
If not, I don't see the profitability in it.
The last 2 nights I stayed up till 4am listening to ICT ramble.
This is the last month and he is gone.
I can tell the guy is burnt to a cinder from daily webinars.
Having a REAL job is hard work!!!
I'm going to start studying some posts in this thread instead and make it a 1-2hr London open church session.
Time to get religion.
Don't worry about how other people trade, worry about yourself. What if I offered to fund a 1 million dollar account to trade. The only rules were you had to trade only the way I traded. The first time you placed a trade that wasn't part of my trade plan you lost access to the account. How would you trade. Consistenly taking every trade that presented itself whether win or lose. Or would you be thinking about someother style.
Oh risking .25% on a HTF trade is crazy. I prefer .1%.
Yea this is all hypothetical. Maybe. Maybe not
IS A LIE__________
