IgazI wrote:LegendofZline wrote:Back at it. I have not been on for a while. I just want to see if there is any input.
zline trade - 4hr bias going up - 15 min zline 1 and 2 trade
any pointers would help.
stop loss if price isn't going my way. closed at next 15min mbar.
The first step is to define your risk based on how fast the small chart is moving through lines;
if each line represents 10% of your risk allowance (10%R) then how far apart would you set the lines?
If you had 10 pips to risk and you were down 1 then that would be -10%R, so each line is the same as
being +/- 1 pip.
Your lines shouldn't be so close together that you are up 20%R one moment and down 50%R the next,
you want to slow the markets role, make it sit down, and play the long game with it.
Instead of trying to maximize your reward per trade you should be focused on maximizing your lot size,
the reward per line, and getting more nutrition without taking larger bites out of the market.
The more you feel in control the better you will trade; someone who is down 5 pips probably had no say in the matter,
but by the time I am sitting at -20%R I probably had 2 or 3 opportunities to get out at -10%R and that makes all the
difference in the world.
The chart only exists to generate ideas; in the end you are just taking a trade at a line, risking a number of lines, and taking
lines or lines and a half as profit.
Hello, if you don't mind I like to pick your brain on this MM as I have read it a few times here in many threads and I'm not too clear.
You split your entry from initial extreme to a future extreme into lines, correct?
Then I get that you split your risk among the lines, and reduce or increase your position size when you win or lose.
But how do you determine how many lines to have and how far apart?
Are you determining the space apart between lines due to ATR on the chart you are trading?
Also, is this to do with MO's eights? And if so, why eights?
Feels like I am ambushing you with so many questions in one post, sorry man, but I appreciate any help you can give, thanks