The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Nov 30, 2017 8:51 pm

TheRumpledOne wrote:
Does make 1 line, mean you have exited the trade at 1 line? I think this is where language is tripping me up.


Yes.

If a line is $20 then +$20 is 1 line.

If I increase the value of a line to $30 then $30 is 1 line and my total lines are reduce to 2/3 (8 lines becomes 5.333):
now I might risk 2 lines of $30 with 3.333 lines behind it or (30/25)*3.333 or 4 lines of $25 if the trade is lost.

Knowing how many lines you usually require and how many lines you have behind a trade will allow you to evaluate the pros and cons of every trade: should I risk 2 or 3 of my 4 lines on the hourly, move up to the H4 where I can better control my losses, or move up to the D1 where I can micro manage the trade? There might not be a trade at the H4 level so your choice is then to increase your lines from 4 to 6, providing the 2 lines that you are going to be risking, and trade H1.

It seems complicated but it is not:
if you lose 4 lines then you strike out; how do you wish to proceed?

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Pjort
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Re: The ideas that I trade by:

Postby Pjort » Sun Dec 03, 2017 12:20 am

TheRumpledOne wrote:
Pjort wrote:And TRO tnx for being so honest admitting that you dont understand - I am to chicken being THAT honest, LOL


When it comes to learning, I have NO EGO. I WANT TO LEARN.

I DON'T CARE ABOUT ANYTHING ELSE, ONLY LEARNING.

I DON'T CARE IF SOMEONE ELSE THINKS I AM STUPID, DUMB, ETC.. I ONLY CARE ABOUT LEARNING.

I DON'T CARE HOW MANY QUESTIONS IT TAKES.

I DON'T CARE HOW LONG IT TAKES.

I AM SINGLE MINDED... I WANT TO LEARN.

IF I DO NOT LEARN, THE FAULT IS MINE AND MINE ALONE.

IF I DO NOT UNDERSTAND, I DO NOT PRETEND THAT I DO. I DO NOT CHEAT MYSELF OUT OF LEARNING.

IT IS NOT ABOUT ME BEING HONEST. IT IS ABOUT ME BEING GREEDY WHEN I COMES TO LEARNING. I WANT TO LEARN AS MUCH AS I POSSIBLY CAN.

THE JOB OF EDUCATION NEVER ENDS...

ALWAYS BE LEARNING...


Hello TRO

I think your are like the uncle in the family that everyone is a litle bit afraid off, but also wouldnt want be without...
I hope you understand my Danish humor... (it is a positive meant!!)

I guess this is a community where we all try to share our common passion and discuss ideas. And that will include many questions... Silly or not...
Anyway great with your honest style... It is an inspiration...

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Pjort
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Re: The ideas that I trade by:

Postby Pjort » Sun Dec 03, 2017 12:31 am

MightyOne wrote:
Pjort wrote:
Hello MO and co,,,

If I was thinking about your system in a super simplyfied way... could I say it this way:

I hold a 100 euro LONG position on let say EURJPY at price 1320-
Then price go 40 pip down to 1300 - I reduce my position 20% to 80 euro
Then price go 40 pip down to 1260 - I reduce my position 20% to 64 euro
Then price go 40 pip down to 1220 - I reduce my position 20% to 40 euro
Then price go 40 pip down to 1180 - I reduce my position 20% to 32 euro
Then price go 40 pip down to 1140 - I reduce my position 20% to 26 euro
And so on....

If price then goes my way "the LONG way"... I put on money on the table again!!?
Like this:
The price go up 40 pip up to 1180 - I expand my position 25 % to 32 euro
The price go up 40 pip up to 1220 - I expand my position 25 % to 40 euro
The price go up 40 pip up to 1260 - I expand my position 25 % to 64 euro
The price go up 40 pip up to 1300 - I expand my position 25 % to 80 euro

Wupti I am back again in business and have the same position as I started uout with, hopefully no loss... (maybee som slippage and spread cost...)

How far from your idear about Lines is this??


I assume that this is on the level of a weekly chart trade?

Let's just say that you were making 100 euro per line (40 pips) so that it looks like this:

381
305
244
195
156
125
100 / 40
80
64
51
40
32
26

I think that there is a night and day difference:

Using a risk-box one has 8 lines of 100 euro and there need not be any reduction in position size:
If you lose 1 line then you have 7 lines of 100 and if you lose another then you have 6 lines of 100.
If you then make 3 lines you can increase your size by (9/6)*100 or 6 lines of 150.

Now you lose 2 lines and decide to focus on preserving space so you bring your lines back up to 6: (4/6)*150 or 6 lines of 100;
had you not lost 2 lines you might have made 2 lines for a total of 8 lines of 150 euro...or 12 lines of 100 which is a $400 profit (12 - 8).

1 line of 150 euro could be over 80, 40, 20, 10, or 5 pips; I can move seemlessly between pairs and periods:
If you go from 8 lines of 150 to 12 lines then you can reduce your lines to 6 of 300 euro.
If you trade a larger chart then 6 lines is plenty of space and as you bring in more lines you can afford to trade smaller charts where lines are created and destroyed at a faster pace.

After losing 2 lines of 40 pips I could make 2 lines of 10 pips pips: my pip total is -60 but my profit is around break even: that is why I say that we are not "trading for pips".


Hi Mo
Thanks for explaining... It is funny I dont it get really - but I feel it is something about staying the trade - like not getting stopped out all the time and being forced to start allover again- and maybee begin to overtrade. Something about being able to keep focus on the bigger picture and being able to catch a larger move...

Have a nice Sunday everyone...

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Re: The ideas that I trade by:

Postby Leoheart » Fri Dec 08, 2017 7:56 pm

MightyOne wrote:Just an update of the prev. chart:

Trade from patterns and to patterns, risk lines an make lines; what else do you want me to tell you?

Is price going up? Then it is going up.
Is price going down? then it is going down.

Charts are patterns and breakouts.

A prediction is making a guess that is contrary to what you are seeing.

Trading is: risking and making horizontal lines, placing stops and normalizing risk, thinking and carrying out your thoughts.

Prior to heading off to bed, I was reading 7 CARD STUD by Roy West and in the very beginning of the book he made the comment "it takes the right 'stuff' to win at poker".

Many of the skills gained from learning about and playing poker can be applied to trading. You show me statistics, I can show you statistics, but it will help neither of us win against a top ranked poker player. Why? Because he has the "stuff" that transcends the numbers; he knows herd mentality and how to exploit unique situations.

AUDJPYH1.png


Old post, but I love it.

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Postby MightyOne » Mon Dec 11, 2017 6:54 pm

Anyone think of their new year's resolutions?

1. Return to a Keto diet
2. stop adding creme and espresso shots to my coffee (I am noticeably more agitated all of the time) :lol:
3. speak French très bien by the end of the year.

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nat
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Re:

Postby nat » Mon Dec 11, 2017 6:59 pm

MightyOne wrote:Anyone think of their new year's resolutions?

1. Return to a Keto diet
2. stop adding creme and espresso shots to my coffee (I am noticeably more agitated all of the time) :lol:
3. speak French très bien by the end of the year.


I need to do the keto thing also. or just give up soda. mountain dew is my water right now. I get a little squishier in the stomach area every few weeks #-o

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Re: Re:

Postby Leoheart » Mon Dec 11, 2017 7:47 pm

nat wrote:
MightyOne wrote:Anyone think of their new year's resolutions?

1. Return to a Keto diet
2. stop adding creme and espresso shots to my coffee (I am noticeably more agitated all of the time) :lol:
3. speak French très bien by the end of the year.


I need to do the keto thing also. or just give up soda. mountain dew is my water right now. I get a little squishier in the stomach area every few weeks #-o



I got one for ya, sleep more. Never enough :).

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Re: Re:

Postby MightyOne » Mon Dec 11, 2017 8:26 pm

Leoheart wrote:
nat wrote:
MightyOne wrote:Anyone think of their new year's resolutions?

1. Return to a Keto diet
2. stop adding creme and espresso shots to my coffee (I am noticeably more agitated all of the time) :lol:
3. speak French très bien by the end of the year.


I need to do the keto thing also. or just give up soda. mountain dew is my water right now. I get a little squishier in the stomach area every few weeks #-o



I got one for ya, sleep more. Never enough :).


You can sleep when you're dead ;)

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Re: Re:

Postby Mira » Mon Dec 11, 2017 9:50 pm

MightyOne wrote:
Leoheart wrote:
nat wrote:
I need to do the keto thing also. or just give up soda. mountain dew is my water right now. I get a little squishier in the stomach area every few weeks #-o



I got one for ya, sleep more. Never enough :).


You can sleep when you're dead ;)



:lol: :lol: :lol:
__________ THE :smt096 IS A LIE__________

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Re:

Postby Pjort » Mon Dec 11, 2017 11:12 pm

MightyOne wrote:Anyone think of their new year's resolutions?

1. Return to a Keto diet
2. stop adding creme and espresso shots to my coffee (I am noticeably more agitated all of the time) :lol:
3. speak French très bien by the end of the year.

Keto sounds like some japaneese Tofu thing.,,

Speeking about healthy living - i have stopped eating all kind of candy stuff exept from some clean choclade. For three month and the effect was quite remarkeble I suddenly didnt need pooring salt on all my food as I was use too.
So it seems theres a conection between sugarintake and salt intake,,, hmmm feels a bit more healthy now.,. I hope it last into 2020 or longer LOL
MO,Good luck with the french, I have heard its all about pronasation,,,!!?

Ps sorry for my poor englush,,,

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