Aliassmith Psychology 101 and other stuff

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aliassmith
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Postby aliassmith » Fri Apr 16, 2010 4:49 pm

gfg1 wrote:Alias, thanks for the pics. So it appears as if it is the rat reversal trade TRO uses, except the wicks on the long candles are being ignored. Does that pretty much sum it up? TIA

aliassmith wrote:Doing some price action reaseach and testing, thought I would post some
pics I made to show price action I see.


For entries I pretty much ignore wicks. I use bodies as my jump off point
and wicks on the entry candles as a confirmation that all is well so far. :)

Now when it comes to exit, wicks can be spots to watch out, maybe take
part off, hedge, watch the candle form and look for signs.
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Postby Brookmyre » Sat Apr 17, 2010 1:27 am

Aliassmith

could you explain how you use hedging as part of your exit strategy or point me in the direction of some further reading on the subject please. It's not something I've looked into and apart from newschools thread it's not discussed much around here. Any help would be appreciated. Thanks
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bredin
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Postby bredin » Sat Apr 17, 2010 1:45 am

aliassmith, those simplified pics are very cool :cool:
thanks for posting them.

G.
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Postby bredin » Sat Apr 17, 2010 1:57 am

Brookmyre,

Image

I hope this helps.

edit: As i see it hedging is a profit protection strategy, not a loss management strategy. Hedge instead of exit and the worst thing that can happen is the same as closing your position, the best is that price can retrace and you can drop the hedge with a lot less accuracy than youd need if you closed and entered again later.

G.
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Postby Brookmyre » Sat Apr 17, 2010 2:24 am

Thanks bredin

That was how I thought it would be used. Kind of putting a pin in your profit to hold it there. I've been demoing with MBT so unable to play with this. Deposited funds in my live account, where I can hedge, and the deposit registered Fri arv just before I had to go to work. Now I have to wait out the weekend!
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Postby es/pip » Sat Apr 17, 2010 2:44 am

bredin wrote:Brookmyre,

Image

I hope this helps.

edit: As i see it hedging is a profit protection strategy, not a loss management strategy. Hedge instead of exit and the worst thing that can happen is the same as closing your position, the best is that price can retrace and you can drop the hedge with a lot less accuracy than youd need if you closed and entered again later.

G.


are you using blubbs custom candle to combine those candles?

how do you get it to make an outline instead of a solid candle

i am going to force myself to look at this more...

i do it kind of in my head, but want to take a look into it a bit further
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bredin
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Postby bredin » Sat Apr 17, 2010 3:13 am

es/pip

that is my version (the red rectangles are hand drawn, but soon the indi will do it) - link in my sig, but otherwise that is blubbs custom candle indi.

in blubbs set input CandleFilled to false
in my II_CC set input CC.Solid to false

do those entries/hedges/adds/covers look ok to you?

G.
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Postby es/pip » Sat Apr 17, 2010 3:24 am

bredin wrote:es/pip

that is my version (the red rectangles are hand drawn, but soon the indi will do it) - link in my sig, but otherwise that is blubbs custom candle indi.

in blubbs set input CandleFilled to false
in my II_CC set input CC.Solid to false

do those entries/hedges/adds/covers look ok to you?

G.


lol

i should have been able to figure that one out

thanks

yeah looks good to me
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Postby MightyOne » Sat Apr 17, 2010 3:58 am

bredin wrote:Brookmyre,

Image

I hope this helps.

edit: As i see it hedging is a profit protection strategy, not a loss management strategy. Hedge instead of exit and the worst thing that can happen is the same as closing your position, the best is that price can retrace and you can drop the hedge with a lot less accuracy than youd need if you closed and entered again later.

G.


Gunning for sextillions are we Bredin?

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bredin
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Postby bredin » Sat Apr 17, 2010 4:04 am

Just following your advice MO..... That pic just shows that having the patience to wait for 1 trade then properly managing it with a low inital risk and reinvesting profits at approprate points is all that is necessary.

G.

PS, on reflection... Yes I am gunning for rediculous!
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