PowerX Strategy "PowerZ"

[IgazI]

No sooner than I finish opening a depository account . . .
I think that I am going to wait and see what fate offers me in the coming weeks;
worst case scenario, we don't buy

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[kiwiarian]

I just watched Tro's video on trading using closing prices doing it his way.
He did a really good walk through.
https://www.youtube.com/watch?v=1IG6C-pujfU

[IgazI]

I just watched Tro's video on trading using closing prices doing it his way.
He did a really good walk through.
https://www.youtube.com/watch?v=1IG6C-pujfU

I watched it this morning

[IgazI]

I would be comfortable buying 1oz Palladium bars from a dealer for $1200.

I think $980 Palladium is on the table.

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[IgazI]

I've purchased 1 oz of physical platinum for $999.76, as a placeholder in the depository;
I plan on doing some serious stacking in the near future.

As far as charts are concerned, I am going to stick with colorless bodies and muted colors. . .
I also think the moving averages are unnecessary when you're also using H4 and daily charts.

I only want to focus on:
1) price levels / larger charts
2) what is "in"
3) what is a "breakout"

No indicators, averages, oscillators, just price history and a few trendlines.

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[bb01100100]

I've purchased 1 oz of physical platinum for $999.76, as a placeholder in the depository;
I plan on doing some serious stacking in the near future.

As far as charts are concerned, I am going to stick with colorless bodies and muted colors. . .
I also think the moving averages are unnecessary when you're also using H4 and daily charts.

I only want to focus on:
1) price levels / larger charts
2) what is "in"
3) what is a "breakout"

No indicators, averages, oscillators, just price history and a few trendlines.

XPTUSDM1.jpg

When looking at a chart like that are you predicting direction and distance? I ask because I find it difficult to see past the immediate going’s on.. and my track record for prediction is terrible.

I guess I could avoid prediction by noticing a bias in the breakouts and trading those… trading the “trend” in bites until the bias is gone.

[IgazI]

When looking at a chart like that are you predicting direction and distance? I ask because I find it difficult to see past the immediate going’s on.. and my track record for prediction is terrible.

I guess I could avoid prediction by noticing a bias in the breakouts and trading those… trading the “trend” in bites until the bias is gone.

I do not know what is going to happen next

The larger charts are as simple as:
- is price making new highs?
- is price reversing from new highs?
- is price making new lows?
- is price reversing from new lows?
- is price closing above or below ranges?

Price is moving lower and it is not reversing? that's an easy one.

Price moved lower and it is reversing, but price has been closing lower? we're probably not going to get a chance to hold long.

You know, think of all of the scenarios that could play out on the H4/D1 candles and use that as a guide.

When it comes to execution, there are patterns and there are breakouts; one finds patterns, and one trades breakouts:

Start by inching a limit order behind price until you are filled for a half-sized position, and if the market gives your order the bird then place a market order for half and continue to inch your limit order closer to the current price.

If your limit order is filled, and the trade is still looking strong, then go ahead and enter the other half.

Once you are in a trade you need only follow your exit strategy:
- start by managing the trade on the M1
- if you get a nice close over on the H4/D1 then consider managing the trade from those charts:
exit/enter half on the M1, hold half for the larger move.

- use a trendline
- if price moves through the top of the M1 chart, place a stop loss to protect against a reversal.
- if price continues higher then continue to use trendlines.

You are just going down a checklist and consistently applying your ideas:
there is nothing to learn, there is no "skill" required before you can make money.

[IgazI]

What ya got, Pro?

Heavily salted and stored in the open air of a super cold mini fridge. . .
until it starts to smell like grapes.

I turn it over once in the morning and once at night, takes about 5 days.

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[Yirbu]

What ya got, Pro?

Heavily salted and stored in the open air of a super cold mini fridge. . .
until it starts to smell like grapes.

I turn it over once in the morning and once at night, takes about 5 days.

Cowboy_Bebop.jpg

Whoa...this looks goooood

[IgazI]

All this time I thought it was a Don_xyZ quote

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