The ideas that I trade by:

[Captain Pugwash]

Problem I'm having is that i see an extreme point, and I put my 20 pip space box above and to the 50% Momo candle and wait patiently for the price to get into my space in order to position. But price does not come back to that box, and so i'm not in the market and unsure what to do at that point. I know i'm missing something here, but i'm not sure what.

Great - that means your hitting that third - "WAIT" button - maybe the most overlooked button of all. Maybe look at another pair and put alerts when price is near your zone




Brilliant trading braathen - nice cones and pennents on your chart as well - You've got me marking up my charts with slanties again since I saw your great lines. Keep posting mate.

[kate682]

Wow, and erm, i'm seeing something, and not sure what! Still working through MO's space concept. If its not closing below something etc. Have not been able to fathom triangles, till i think now, the colour of the candle doesn't matter does it! I think.

[Captain Pugwash]

Don't copy what I am doing Kate -

This is my sorry attempt at the GU - notice I am not drawing trend lines.

have a look at MO's posts to get a handle on the feel of the thing.

BTW this is new to me so don't do what I am showing but just start playing

Have a look at MO's posts to get an idea of how the lines "feel"

JAL - help me out here - I see your on line - and your way better than me at this

[redart9]

Sometimes I feel like Einstein was teaching Relativity to my dog.
But here there is not only space dimensions and time but also price dimension in the equation.

Thanks for persevere to teach me your knowledge to my little brain.

Mo when you say you increase your position size then you trail your stop closer to the current price to normalize risk, you mean:
- let's say you risk 2%.
- you enter not a full position at x units (1% risk), place stop to an extreme
- then you reenter at y unit (the 1% risk left), and place stop closer
- so finally it is like you risk 2% and so normalize your risk ?

[kate682]

This is what i'm working on. Painfully

Thanks for all help, appreciated.
kate
x

[MightyOne]

Sometimes I feel like Einstein was teaching Relativity to my dog.
But here there is not only space dimensions and time but also price dimension in the equation.

Thanks for persevere to teach me your knowledge to my little brain.

Mo when you say you increase your position size then you trail your stop closer to the current price to normalize risk, you mean:
- let's say you risk 2%.
- you enter not a full position at x units (1% risk), place stop to an extreme
- then you reenter at y unit (the 1% risk left), and place stop closer
- so finally it is like you risk 2% and so normalize your risk ?

If you increase your position size without reducing space then your risk keeps going up.

All that you have to know is that if you increase your position size by 50-100% then halve your space.
Your new stop is in the middle of your prev. stop and last purchase price.

[Jalarupa]

Hi Kate,

With Drawing Cones just find the angles...

and then clone them backwards or forwards into time to form either and cone or a pennant... Or what is also referred to as a DOP (Diamond of Perception)

Pug's your lines are a bit too tight... loosen them up a bit...

Creating a Line in the Sand (LiS) that you place your Space around and trade away from...

Hope this helps...

[MightyOne]

This is what i'm working on. Painfully

Thanks for all help, appreciated.
kate
x

Everyone overcomplicates things in the beginning.

You are trading based on a larger chart so start by marking the extreme and BOx on a large(er) chart:
Note that the highest extreme is a 2+ day with BOx, in this case, based on the 4H:

Space is your total risk but it is also the only area in which you can place an order.
To start, you want to be looking at a chart that is small enough where price is gyrating within the space; later on, for re-entry, entering when wicks touch your box is sufficient because your goal may simply be to re-position your stop.

As Alias pointed out, if you have been trading for awhile then you have a lot of ideas floating around your head that you need to quiet before you can see clearly.

[Sandra]

I have a million scalp ideas in my head!!! thats my problem...I really want to be able to go to longer term charts....

so depressing!

S

[Sandra]

If I understand this, I have draw a 2day extreme box which and then 2 more boxes based on the 4hr momentum.

What do I do with them...no idea...feel paralyzed looking at these.

If I were able to get in with 3 lots on the 21st....I would then add 3 more lots on the return to my 4hr box? thus cutting my space in half which would still be save from my extreme point?

is this even close....

S