Libertarians take on trading

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5996
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 1604
Gender: Male

Re: Principles...

Postby MightyOne » Wed Dec 06, 2017 6:51 pm

Mira wrote:
Yep, this post tells more than 100 trading books.

[edit]
Ok the link is not working good :x
BTW.. page 139. I’m writing it for the people who will come.


I don't need or use diamonds or fractals on a regular basis; they are simply curiousities.

Libby wrote:... You keep saying our aim should be to consistently apply our principals. What are our principals? Can you review...


1. Risk-boxes:
Your most powerful weapon is the ability to manipulate your position size.

The simplest risk box is 8 lines and it is 8 because +1 line, 9/8, increases size by 12.5%

If you risk 2 lines per trade then you have 4 trades: 8-6, 6-4, 4-2, 2-0.
If you restore 1 line then you have 7 trades: 8-6, 7-5, 6-4, 5-3, 4-2, 3-1, 2-0 or you can prolong it: 4-2, 4-2, 4-2, 3-1, 2-0 ... instead of S(2/3) it is size(2/4).

If after a trade your lines total 12 then you can split your risk-box instead of increasing size:
BOX1: 8 lines of $50, +2.5 lines is 50(10.5/8) or 8.076 lines of $65
BOX2: 4 lines of $50, +2.5 lines is 50(6.5/4) or 4.062 lines of $80
---------------------------------------------------------------------------------
Recombine the boxes when you are done: 65((4.062(80/65) ) + 8.076 ) = $849.90
50(12 + 5) = $850

The better your line management and stacking the better your results.

2. Range:
This helps you use the right position sizing as well as judge how far price will expand in a particular direction.

Small position size small targets, large size large targets; that is all that you really need to know.

3. Line Widths:
This is all that we mean when we talk about 'trading' a chart: 'move up the charts' = 'use wider lines'.

4. Large Chart Price Levels:
A pattern is one side of a line & the breakout is the other: I think that everyone can tell the difference between a boulder and an obelisk :wink:

You didn't see it coming because you were not looking or it left you behind because you didn't have the endurance to see it through.
EURUSDDaily.png
EURUSDDaily.png (15.51 KiB) Viewed 113 times

I can't even count how many times I have said "if only I had been watching the [large chart]"
Sometimes you get so caught up trading small charts that you forget where you're at & where you are going
(large charts have to move sometime).
EURUSDWeekly.png
EURUSDWeekly.png (20.16 KiB) Viewed 113 times


5. Stacking:
Needs no introduction.
It is the difference between winning and losing.

6. Common Triggers:
1. Price closes in an area of interest
2. Price exits the area of interest

c_triggers.png
c_triggers.png (8.85 KiB) Viewed 113 times


Everything else isn't really that important to me

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: 5996
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 1604
Gender: Male

Re: Principles...

Postby MightyOne » Wed Dec 06, 2017 8:03 pm

Libertarian wrote:This is a message for Mighty Joe Young,...


And please, Libby, only the ladies call me "Mighty one mighty Joe young"
That name is off limits :lol:

User avatar
Libertarian
rank: 150+ posts
rank: 150+ posts
Posts: 196
Joined: Tue Nov 30, 2010 6:32 am
Reputation: 104
Location: MN
Gender: None specified

Re: Libertarians take on trading

Postby Libertarian » Wed Dec 06, 2017 8:09 pm

I'm getting there Mighty ONE This post is very helpful. I was practicing my lines on the EU and going to do a post but you were so kind as to beat me to it. Looks like I was of the idea that you were. :lol: :shock:

You really do always chase the same ideas MO, consistently apply your principals. Simple truths.

eurusd-d1-capital-city-markets.png
eurusd-d1-capital-city-markets.png (55.61 KiB) Viewed 187 times


EDIT: I'd do my lines a tad differently after this.
Last edited by Libertarian on Wed Dec 06, 2017 8:17 pm, edited 1 time in total.

User avatar
Libertarian
rank: 150+ posts
rank: 150+ posts
Posts: 196
Joined: Tue Nov 30, 2010 6:32 am
Reputation: 104
Location: MN
Gender: None specified

Re: Principles...

Postby Libertarian » Wed Dec 06, 2017 8:16 pm

Surely some of them call you daddy :oops: :smt052

MightyOne wrote:
Libertarian wrote:This is a message for Mighty Joe Young,...


And please, Libby, only the ladies call me "Mighty one mighty Joe young"
That name is off limits :lol:

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5996
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 1604
Gender: Male

Re: Principles...

Postby MightyOne » Wed Dec 06, 2017 9:19 pm

Libertarian wrote:Surely some of them call you daddy :oops: :smt052


Nope.

women.png
women.png (142.59 KiB) Viewed 177 times

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

User avatar
Mira
rank: 1000+ posts
rank: 1000+ posts
Posts: 1007
Joined: Thu Nov 10, 2016 8:37 pm
Reputation: 1154
Gender: Male

Re: Principles...

Postby Mira » Wed Dec 06, 2017 9:38 pm

MightyOne wrote:
Libertarian wrote:Surely some of them call you daddy :oops: :smt052


Nope.

women.png


:^o [-X :lol:

Immagine.png
Immagine.png (30.25 KiB) Viewed 169 times
__________ THE :smt096 IS A LIE__________

User avatar
Libertarian
rank: 150+ posts
rank: 150+ posts
Posts: 196
Joined: Tue Nov 30, 2010 6:32 am
Reputation: 104
Location: MN
Gender: None specified

Re: Principles...

Postby Libertarian » Wed Dec 06, 2017 9:53 pm

You *censored - swear word* got me :lol:

Extra point for the Gremlins reference.

MightyOne wrote:
Libertarian wrote:Surely some of them call you daddy :oops: :smt052


Nope.

women.png

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5996
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 1604
Gender: Male

Postby MightyOne » Thu Dec 07, 2017 9:49 pm

BTCUSD.png
BTCUSD.png (71.97 KiB) Viewed 98 times

:D

User avatar
Libertarian
rank: 150+ posts
rank: 150+ posts
Posts: 196
Joined: Tue Nov 30, 2010 6:32 am
Reputation: 104
Location: MN
Gender: None specified

Re:

Postby Libertarian » Thu Dec 07, 2017 10:02 pm

Some accountants were inquiring about buying Bitcoin in the office today :smt044 Laugh_Smile

MightyOne wrote:BTCUSD.png
:D


Great tune BTW :smt033

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1646
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 244
Location: Long Island, NY
Gender: Male

Re: Libertarians take on trading

Postby TygerKrane » Thu Dec 07, 2017 11:19 pm

aliassmith wrote:
MightyOne wrote:These are the recent minimum spreads as recorded by OANDA.

USDZAR_HISTORY.pngTRYJPY_HISTORY.png


Ended up looking at the USDTRY. It had about a 5 pip spread but moves about 3x the GBPJPY. I think the margin is really low also. It could be my new love :shock:

Were you looking at the average spread?
Right now, 6P EST, I see the spread as @60 pips on Trade Interceptor, and @100 pips on Oanda :shock:

Maybe I need to check back during the Euro/US session crossover.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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


Return to “TheRumpledOne”