PowerX Strategy "PowerZ"

[IgazI]

Okay makes sense, this is where fear sets in for me. Trying to internalize it and figure out what it is.

1. When price is out, I keep holding. Then, I’ll add more once I see that price is “in.”

After this, either prices makes a new out and it continues in its path toward my take profit or The fear/greed comes when price makes an “in” but goes against me and I let it take out my original risk.

As I’m writing this, I think I figured out the problem

When swing trading, I would use a 6 contract max:
1 + 1
2 + 2
3 + 3
You would enter 1 + 1 + 2 + 2, where 1 is the same as above and 2's is a size that is added after profits are absorbed:
- moving from 2 contracts to 4 is 2 + 2
- moving from 4 to 6 is 3 + 3.

6 = 1 unit, not six times larger than you would trade.

You should always have full margin for 6 lots, so that you can hold all of your contracts for as long as you wish.

There are two basic ideas that trigger the exit strategy:
- HP: what price would stop your heart if price started trading lower?
- NR: there is No Reason to sell a rising market.

When it comes to entries, you would be attempting to hitchhike from the M10 onto an H3+ and ride it up;

You might go back to using HP and NR on an M10 at some point if you are inclined to bring the trade to an end.

The whole point of making it simple is so that it can be "easy" let's not move backwards in our thinking.

PS: I don't own any bitcoin or bitcoin contracts.

HR_and_NR.png (102.44 KiB) Viewed 1090 times

[IgazI]

"I'm going to get rid of the TV and just read the news"

The news. . .

it_a_cat.jpg (52.34 KiB) Viewed 1057 times

[BambinoFlex]

Okay makes sense, this is where fear sets in for me. Trying to internalize it and figure out what it is.

1. When price is out, I keep holding. Then, I’ll add more once I see that price is “in.”

After this, either prices makes a new out and it continues in its path toward my take profit or The fear/greed comes when price makes an “in” but goes against me and I let it take out my original risk.

As I’m writing this, I think I figured out the problem

When swing trading, I would use a 6 contract max:
1 + 1
2 + 2
3 + 3
You would enter 1 + 1 + 2 + 2, where 1 is the same as above and 2's is a size that is added after profits are absorbed:
- moving from 2 contracts to 4 is 2 + 2
- moving from 4 to 6 is 3 + 3.

6 = 1 unit, not six times larger than you would trade.

You should always have full margin for 6 lots, so that you can hold all of your contracts for as long as you wish.

There are two basic ideas that trigger the exit strategy:
- HP: what price would stop your heart if price started trading lower?
- NR: there is No Reason to sell a rising market.

When it comes to entries, you would be attempting to hitchhike from the M10 onto an H3+ and ride it up;

You might go back to using HP and NR on an M10 at some point if you are inclined to bring the trade to an end.

The whole point of making it simple is so that it can be "easy" let's not move backwards in our thinking.

PS: I don't own any bitcoin or bitcoin contracts.
HR_and_NR.png

Thank you, this helps out a lot

[Don_xyZ]

"I'm going to get rid of the TV and just read the news"

The news. . .

it_a_cat.jpg

Nowadays, TV news only talks about bad news or updates of the bad news. That's why people get even worse.

[IgazI]

"I'm going to get rid of the TV and just read the news"

The news. . .

it_a_cat.jpg

Nowadays, TV news only talks about bad news or updates of the bad news. That's why people get even worse.

I'm the saint of tolerance, and this is too much

[IgazI]

Protected from what? the world may never know

the_times.jpg (13.85 KiB) Viewed 947 times

[IgazI]

PAPER TRADE WITH A CHART THAT IS NOT MOVING!

Just save your hourly charts to a 'Paper_Trades' folder, name the pics so that they appear in the right order, and then go through the last 5 as you have time.

- what do you see?
- how would you trade it?
- are you being logical or emotional?
- what problems did you face getting from A to B?
- are you trading what you see or what you think?

The distance between lines is 'x' number of Bozo-bucks, and your entries and exits are to the nearest 1/4 of x

If you stop BSing on a demo account and just "trade" still charts then you'll do a lot better;
tomorrow, you'll get a new chart and you'll follow your exit strategy to see how you did.

And, for fk sake, if you "know what you are doing" then trade a live account

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[IgazI]

Do you want it to be easy?

- Is price above or below ranges?
- is it more likely that your up or your dn-trend line is intact?
- what are you trading out of?
- what has been traded out of?

You can select three ranges to draw an up-trend; if it goes 1, 2, and down then the answer is simple, you're in a down trend.

Now that you have some idea of what you need to do, hop on over to the 10 minute chart and look for an entry.

Just remember that if you're struggling it is because you wanted it to be that way, you chose the candlestick life

Instead of staring at a 15 second chart for two hours, go do DoorDash, Uber Eats, whatever, make $60/day, 5 days per week, ~$1290/month, and have about $5000 to trade by the end of month four. . .and then you can risk it without evil looks from your wife

The great thing about objective analysis is that you have clearly defined entry and exit strategies:
you might not know exactly how it would have played out, but you can't demo how trades are going to play out

plain_English.png (66.73 KiB) Viewed 867 times

The chart above is not a 9 hour candlestick chart, it is still just a simplified H3 line chart:
How do you trade a line chart? you have point a, b, and c, and if c creates a bend on the chart you take the breakout of the range; closing ranges are very similar to what you are already looking to do.

[prochargedmopar]

Do you want it to be easy?

- Is price above or below ranges?
- is it more likely that your up or your dn-trend line is intact?
- what are you trading out of?
- what has been traded out of?

You can select three ranges to draw an up-trend; if it goes 1, 2, and down then the answer is simple, you're in a down trend.

Now that you have some idea of what you need to do, hop on over to the 10 minute chart and look for an entry.

Just remember that if you're struggling it is because you wanted it to be that way, you chose the candlestick life

Instead of staring at a 15 second chart for two hours, go do DoorDash, Uber Eats, whatever, make $60/day, 5 days per week, ~$1290/month, and have about $5000 to trade by the end of month four. . .and then you can risk it without evil looks from your wife

The great thing about objective analysis is that you have clearly defined entry and exit strategies:
you might not know exactly how it would have played out, but you can't demo how trades are going to play out

plain_English.png
The chart above is not a 9 hour candlestick chart, it is still just a simplified H3 line chart:
How do you trade a line chart? you have point a, b, and c, and if c creates a bend on the chart you take the breakout of the range; closing ranges are very similar to what you are already looking to do.

Imagine, I know you don't have to imagine but, how much money high quality/legit scalpers would be making.
Trading life for pennies or even no pennies at all is NOT THE WAY.

[prochargedmopar]

Do you want it to be easy?

- Is price above or below ranges?
- is it more likely that your up or your dn-trend line is intact?
- what are you trading out of?
- what has been traded out of?

You can select three ranges to draw an up-trend; if it goes 1, 2, and down then the answer is simple, you're in a down trend.

Now that you have some idea of what you need to do, hop on over to the 10 minute chart and look for an entry.

Just remember that if you're struggling it is because you wanted it to be that way, you chose the candlestick life

Instead of staring at a 15 second chart for two hours, go do DoorDash, Uber Eats, whatever, make $60/day, 5 days per week, ~$1290/month, and have about $5000 to trade by the end of month four. . .and then you can risk it without evil looks from your wife

The great thing about objective analysis is that you have clearly defined entry and exit strategies:
you might not know exactly how it would have played out, but you can't demo how trades are going to play out

plain_English.png
The chart above is not a 9 hour candlestick chart, it is still just a simplified H3 line chart:
How do you trade a line chart? you have point a, b, and c, and if c creates a bend on the chart you take the breakout of the range; closing ranges are very similar to what you are already looking to do.

Imagine, I know you don't have to imagine but, how much money high quality/legit scalpers would be making.
Trading life for pennies or even no pennies at all is NOT THE WAY.

Thing is, $1k or $20k a day, either way, Ain't nuthin to sneeze at. I make $0 a day. Big difference.