PowerX Strategy "PowerZ"

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IgazI
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Re: PowerX Strategy "PowerZ"

Postby IgazI » Fri Nov 17, 2023 8:17 pm

BambinoFlex wrote:
IgazI wrote:Are we doing 'the thing'? I was hoping for cheaper metal prices #-o

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Your pointy place will come.


I bumped up my gold holdings a smidge; better to do something than nothing at all :)
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Re: PowerX Strategy "PowerZ"

Postby BambinoFlex » Fri Nov 17, 2023 10:07 pm

IgazI wrote:
BambinoFlex wrote:
IgazI wrote:Are we doing 'the thing'? I was hoping for cheaper metal prices #-o

thoughts.png


Your pointy place will come.


I bumped up my gold holdings a smidge; better to do something than nothing at all :)


True that! Feels good to be able to do anything at all. The opposite feeling is holding max risk, unable to buy lower within the zone. That feeling alone forces me to enter in partials. Kinda like reverse psychology
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Re: PowerX Strategy "PowerZ"

Postby BambinoFlex » Fri Nov 17, 2023 10:11 pm

IgazI wrote:
BambinoFlex wrote:Also, I finally understood what “Position” Means.

Or at least I think I do.

Position = Price Level That Holds my “Position” or “Risk” as some call it.

Similar to a stop loss, but difference is that as price moves in my favor, and I reduce my space, whilst adding more orders, my “position” won’t exceed my original risk

Eh? Yay or nay?


It is an ideal price, on a larger chart, that is within range of your risk tolerance.

TTE.png


Let’s say this is my larger chart. 4h, entering on 1hr or 30min. Would the top of the boxes be “position” or what/how do you see position in relation to this photo?
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Re: PowerX Strategy "PowerZ"

Postby IgazI » Sat Nov 18, 2023 2:22 pm

It (position) is an ideal price, on a larger chart, that is within range of your risk tolerance.


Price either breaks out and closes or breaks out and reverses. . .

"ideal" is any price from which you are trading, but not necessarily the price at which you made a trade.

"ideal" is a technically significant price on a chart.

When one "has position", on a particular chart, one can afford the price gap between the line and the current price.

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Re: PowerX Strategy "PowerZ"

Postby IgazI » Sat Nov 18, 2023 4:15 pm

1oz_plat.png
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I've only been buying metals for 3 months; mostly 1oz platinum bars,
and a sprinkling of gold and silver for good measure.

Anyone else buying metals? or are you all-in on paper products? :lol:
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Re: PowerX Strategy "PowerZ"

Postby IgazI » Sat Nov 18, 2023 6:04 pm

I don't know why "[YouTube][/YouTube]" never seems to work these days #-o

This is interesting, start the video at 10:16

https://youtu.be/bz-pfYA5B4k?si=z45CZ4UeSpqOtasy

PS: so, we are in a situation where the money in your bank, at your broker, and even your stocks, are not really "protected" [-X #-o
your home, your leased car, the car that you financed, . . .
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Re: PowerX Strategy "PowerZ"

Postby BambinoFlex » Sun Nov 19, 2023 2:28 am

IgazI wrote:
It (position) is an ideal price, on a larger chart, that is within range of your risk tolerance.


Price either breaks out and closes or breaks out and reverses. . .

"ideal" is any price from which you are trading, but not necessarily the price at which you made a trade.

"ideal" is a technically significant price on a chart.

When one "has position", on a particular chart, one can afford the price gap between the line and the current price.

ideal.png


Got it! The things you say definitely bring clarity in my trading processes.

In your experience, what scaling to a winning trade, what have you seen is more efficient?

1. Fixed limit orders at predetermined intervals

2. Waiting for a hook/pullback to scale into

I currently do #2, but at times, I miss the ability to fully scale into a trade because Im sleeping or there was a very fast move.
"If you're wrong, guess what...thats TRADING"

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Re: PowerX Strategy "PowerZ"

Postby IgazI » Sun Nov 19, 2023 4:40 am

BambinoFlex wrote:
IgazI wrote:
It (position) is an ideal price, on a larger chart, that is within range of your risk tolerance.


Price either breaks out and closes or breaks out and reverses. . .

"ideal" is any price from which you are trading, but not necessarily the price at which you made a trade.

"ideal" is a technically significant price on a chart.

When one "has position", on a particular chart, one can afford the price gap between the line and the current price.

ideal.png


Got it! The things you say definitely bring clarity in my trading processes.

In your experience, what scaling to a winning trade, what have you seen is more efficient?

1. Fixed limit orders at predetermined intervals

2. Waiting for a hook/pullback to scale into

I currently do #2, but at times, I miss the ability to fully scale into a trade because Im sleeping or there was a very fast move.


First, you should know that I am not a day trader, and I could care less about daily profits.

The most important thing is that you can afford multiples of 5 or 6 contracts; trading a small account is a death sentence.

Even though you can afford 5 or 6 contracts, don't, you don't want to be invested more than 1/3 to 2/5 into a trade without a cushion of profit.

Don't be dismayed if you only get half of your orders in; the timescale that we are opperating on leaves plenty of time to reach your max position size.

As for "how" you get into a trade, 2 or 3 barrels, with a defined exit strategy:

Look to make your buys within a 4-6 point area, as opposed to buying a down-trend.
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Re: PowerX Strategy "PowerZ"

Postby IgazI » Mon Nov 20, 2023 2:52 pm

Gold and silver forgot to tell platinum where they were going #-o
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If the cash price for 1oz of platinum is under $1000, just buy it.
That's my opinion on platinum. . .

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update:
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Last edited by IgazI on Mon Nov 20, 2023 4:11 pm, edited 1 time in total.
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Re: PowerX Strategy "PowerZ"

Postby IgazI » Mon Nov 20, 2023 3:30 pm

A dollar is like copper bullion, in that you pay 100 cents but it's only worth 17 :lol:

You always see 100% of the coin, but you never realize 100% of the value.

Buying metals is not "spending money", it's retrieving your value.
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