Libertarians take on trading

[Libertarian]

Basically the same trade as the EURGBP since both have to deal with pound strength/weakness and the PA of both pairs is highly correlated. But I don't know whats good to take and what isn't. Again one I'm just watchin and waitin and thinkin. Everyone knows I've gotten my balls kicked in by this pair trying to get short. We'll at some point you have to start thinking the opposite might be true and so I'm long on this one until I get proven wrong.

Here is the weekly, again made a long time HH and that great, however its moved higher in the little channel thing and the USDCHF is breaking out so what if it move higher...just give me more pips when I catch it short

Here is that weekly pic for those who care

gbpchf-w1-mb-trading-futures.png (13.32 KiB) Viewed 4830 times

But again I'm starting at the daily. MOMO up then close higher. Great place to be long or short from. I believe someone calls that POSITION.
I'm long until it closer lower than this. I can't make my mind up on this one becuase there is a HUUUUGE wick on the previous weekly candle. Weakness? Can't believe it until it closes lower on the daily. But *censored - swear word* this is the hard part of trading. I've recently been told to look left and look up and man has that been great advice. But at some point all traders have to reconcile the fact that there is going to be s**t that for both side...So we limit our risk and move on.

gbpchf-d1-mb-trading-futures.png (12.63 KiB) Viewed 4830 times

I made this a mid chart between the really small and really really small TF so you can see my thought process. Blah Blah price is closing higher than something in and area I find interest. That extreme seems a hell of a long way away but we'll see what happens. Again haven't traded this.

gbpchf-m30-mb-trading-futures.png (13.82 KiB) Viewed 4830 times

[Libertarian]

I have been such an idiot...Sometimes you get in a funk and nothing can shake you out of it. Even when its been in front of your face just waiting there. This is my first experience with trying to do something lifechanging...guess I didn't handle it well. I'd like to apologize to those whom deserve it and thank those that deserve it.

[Libertarian]

I am going to start posting my simulation trades and hopefully that will eventually turn into real trades if I can figure out what I'm trying to do. I have been lucky enough to find some very helpful folks through this board and hopefully I can make that come to fruition, so if scalpers and long term traders are the only ones who can make money and I don't have near enough time to scalp, here is my attempt at long term space trading. I'm going to be trading the weekly candle or bust. If you always know where you are trying to get...!

[MightyOne]

lucas_001.png (42.33 KiB) Viewed 4744 times

There is nothing to 'practice'...

you are going to lose trades, maybe even quite often, but it is extremely hard to fail if you keep increasing your lot size; at some point the long term chart is going to run and you will make more in one trade than you can lose in a hundred...

...like Alias making over 140% in one day, how many trades trades will it take to give that money back?

It is so HARD to be a long term loser, when you are doing the right things, that I dare say it is impossible.

[MightyOne]

"...wicks show not the way"

lucas_003.png (35.59 KiB) Viewed 4655 times

[TheRumpledOne]

What is BOx break in?

Please define.

Thanks MO.

[MightyOne]

What is BOx break in?

Please define.

Thanks MO.

tro_001.png (28.26 KiB) Viewed 4644 times

"to hold the extreme of a chart is to hold its potential"

[volnmar]

MO can you please mark this chart for me?:



Where would you enter and why?

[MightyOne]

MO can you please mark this chart for me?:



Where would you enter and why?

You couldn't possibly understand the 'why' without understanding the ideas by which I trade...
...as for the 'where', from price extremes & to price extremes; trading is placing and trailing stops.

To think of your trade as the fill price or average price is not profitable
you must think 'my trade is a stop loss and attached to my stop is this thing I call space'

A long term chart is indirectly traded by holding a stop/position at its extreme prices; once you place a stop then
trading is simply trailing the stop or, in our case, normalizing risk during accumulation...which is the same as trailing a stop because you lose space.

So now you might say 'ok, show me how you would place and trail a stop', but even that is complicated because I am not really 'trading' the long term chart...I consider long term things, position myself at long term extremes, & even trade in the direction of the long term move but I only do so up to a %gain; no one knows when & where I will reach my target, not even me.

Now if you want to know how I go about placing a trade

If I was with you in person I'd say 'a trade is from an extreme, within a space, & if we are going down then price is also below something'; price does not fall on wicks, neither does it rise without closing above something'

Technical analysis shifts to take advantage of a traders tendencies, but the ideas, the truths that guide us, are immutable.

[volnmar]

MO can you please mark this chart for me?:



Where would you enter and why?

You couldn't possibly understand the 'why' without understanding the ideas by which I trade...
...as for the 'where', from price extremes & to price extremes; trading is placing and trailing stops.

To think of your trade as the fill price or average price is not profitable
you must think 'my trade is a stop loss and attached to my stop is this thing I call space'

A long term chart is indirectly traded by holding a stop/position at its extreme prices; once you place a stop then
trading is simply trailing the stop or, in our case, normalizing risk during accumulation...which is the same as trailing a stop because you lose space.

So now you might say 'ok, show me how you would place and trail a stop', but even that is complicated because I am not really 'trading' the long term chart...I consider long term things, position myself at long term extremes, & even trade in the direction of the long term move but I only do so up to a %gain; no one knows when & where I will reach my target, not even me.

Now if you want to know how I go about placing a trade

If I was with you in person I'd say 'a trade is from an extreme, within a space, & if we are going down then price is also below something'; price does not fall on wicks, neither does it rise without closing above something'

Technical analysis shifts to take advantage of a traders tendencies, but the ideas, the truths that guide us, are immutable.

I guess I have a problem to understand/pick right "chart extreme" because it depends on how far I zoom out the chart.

I understand "space" and how to "normalize risk" but still you have to be right in direction of the trade, i don´t know how this could work without it. I think you must somehow pick direction. Should I go long in bottom space and short in top space?

From what I read... How I now understand it.

Look at daily chart, analyze last few bars, wait for some "failure1, failure2" - mark extreme price and draw space from this price.... switch to smaller timeframe and just sit and wait until price comes back to "space" make some "failure" and then open a position.

Maybe Iam completely wrong but thats why I ask for explain. I need to learn how to trade profitably.