Aliassmith Beats a "Dead Horse"

[aliassmith]

another by the book:
20 sma up slope
candle bias green
measuring tool for targets
entry is somewhere in the yellow box

[TheRumpledOne]

How are you using ATR(14) in your trading decisions?

[aliassmith]

How are you using ATR(14) in your trading decisions?

At a glance the market might look like it moved 100 pips but in reality it was only 25 pips. The ATR gives an idea of volatility with a quick number.

EUR ATR was about 3 before now it's about 8 so movement can be expected to be more or faster.

[TheRumpledOne]

TRO002.png (56.43 KiB) Viewed 2387 times

Have you tried looking at the frequency distributions of the range? Knowing when the statistics are on your side for the range to exceed a threshold can give you an edge - knowing when to trade and when NOT to trade. Some days are better, statistically than others.

[aliassmith]

TRO002.png

Have you tried looking at the frequency distributions of the range? Knowing when the statistics are on your side for the range to exceed a threshold can give you an edge - knowing when to trade and when NOT to trade. Some days are better, statistically than others.

No I have not used stats like that. I have studied price action/market structure for years so I mostly use my mental stats. The actual stats would probably be useful tho.

I use the tools you see on my last chart and my brain computer plus I use a tactical order placement and exit strategy.(that means multiple entry and exit points) Each little order is a soldier on the battlefield.

[TheRumpledOne]

TRO002.png

Have you tried looking at the frequency distributions of the range? Knowing when the statistics are on your side for the range to exceed a threshold can give you an edge - knowing when to trade and when NOT to trade. Some days are better, statistically than others.

No I have not used stats like that. I have studied price action/market structure for years so I mostly use my mental stats. The actual stats would probably be useful tho.

I use the tools you see on my last chart and my brain computer plus I use a tactical order placement and exit strategy.(that means multiple entry and exit points) Each little order is a soldier on the battlefield.

Pawns?

[aliassmith]

TRO002.png

Have you tried looking at the frequency distributions of the range? Knowing when the statistics are on your side for the range to exceed a threshold can give you an edge - knowing when to trade and when NOT to trade. Some days are better, statistically than others.

No I have not used stats like that. I have studied price action/market structure for years so I mostly use my mental stats. The actual stats would probably be useful tho.

I use the tools you see on my last chart and my brain computer plus I use a tactical order placement and exit strategy.(that means multiple entry and exit points) Each little order is a soldier on the battlefield.

Pawns?

If you are going the chess route, ya pawns. Sometimes the queen makes it out and cleans up the board.

[aliassmith]

No I have not used stats like that. I have studied price action/market structure for years so I mostly use my mental stats. The actual stats would probably be useful tho.

I use the tools you see on my last chart and my brain computer plus I use a tactical order placement and exit strategy.(that means multiple entry and exit points) Each little order is a soldier on the battlefield.

Pawns?

If you are going the chess route, ya pawns. Sometimes the queen makes it out and cleans up the board.

The Red line shows price going down
The Green line shows price going up and breaking higher than the recent local high
Then the entries will begin as price pulls back
Starting at the top of the "Buys"
1. Enter a pawn
2. Enter another pawn
3. Enter a Rook/Bishop/Knight
4. Enter the Queen

Depending on how the price action looks the Queen will be used to get out close to even or small gain.
If It looks favorable the Queen will cause a nice "windfall"

That is just a general overview. The tactics within the strategy. I've seen a small amount of other traders doing something similar.

[aliassmith]

Another way of using the chess pieces would be in this pic.
After price shows a bias to the long side Starting with the Buy on the bottom
1. Enter a Pawn
2. Enter another Pawn
3. Enter a Rook/Bishop/Knight
4. Enter a Queen

All this depends on how price action looks

[aliassmith]

A MO throwback
Does anyone still do this?

You have $100,000
You made 2.5% on a couple high probability trades
You are willing to risk 3.5% on the next trade with your built up bankroll
You average in 44 lots with an 8 pip stop loss ($3500)
You ride the rocket ship to 10x ($35,000)
That's an 35% return in 1.5 hours