arkan,
I post charts, not to predict, or tell people which way to trade. I post charts to try to give them preception to see price action. I dont trade long term yet, due to a patience issue. lol.... but its still supposed to be the same. I learned along time ago from the greats here that they can give us a direction of the market every day and we will still have some losses, BUT not as many as on my own. What does this teach, nothing. You, we, neeed to learn to SEE on our own to control our future. Its not as difficult as people want to make it. We make it difficult. Post pics, with your questions, line of thinking, the great ones here still are around to help...for you to see....ask, ask....not in direction but how do i see?
Answer to your question, yes on that chart...I draw a line on the open of a down mbar, price closed above, then I wait for retest.
Using blind mouse, line at low wick....close below, close above, retest....
just these two ways of seeing, look at charts, you will start to see them everywhere.
dojirock
Blind Mouse Strategy
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- bredin
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arkan,
why are you hitting the buy button if you dont also know where you'll be hitting the close button?
most traders think exactly opposite of how they have to.
At the ITS we have been trading the AU long since 96. but just knowing that would be the turn isnt enough.
Entries are NOT important
You make money when and only when you hit the close button.
I plan on hitting the close button somewhere around 108.
Then I think I'll take a crack at that 2500ish move on EU.
G.
why are you hitting the buy button if you dont also know where you'll be hitting the close button?
most traders think exactly opposite of how they have to.
At the ITS we have been trading the AU long since 96. but just knowing that would be the turn isnt enough.
Entries are NOT important
You make money when and only when you hit the close button.
I plan on hitting the close button somewhere around 108.
Then I think I'll take a crack at that 2500ish move on EU.
G.
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Hi,
it took a while to read through the whole thread and it took ever longer to understand the power and the simplicity of this strategy. In the end, I can say this is by far the best if have seen in the past ten years.
What I understood is to try to get a position into the market at (daily or current daily extremes) based on smaller timeframes in direction of profit, i.e. in direction of larger timeframes. Once you are in the market and caught the right direction you "simply" scale-in and switch to higher timeframes (if possible) until the target is reached or the trend is about to change direction. You probably will have some losers or only small profits until you catch the big move of year and this the time to make real profits. In the end, it's all about proper money management and having a plan.
I have to admit, in the past i only scaled-out to lock in some profits. But I think these times are over now.
Thank you very much MightyOne (and TRO and some others) for opening my eyes. I wish I would have read this thread some years earlier.
But there is one thing I haven't figured out up to now: What is the definition of a "Fat Cat", please?
It is not really important, but since it is written on a lot of charts it would be nice to understand this, too.
Again, thank you,
Fin
PS: some links for this context I found/collected:
Thread on babypips
Definition of space
it took a while to read through the whole thread and it took ever longer to understand the power and the simplicity of this strategy. In the end, I can say this is by far the best if have seen in the past ten years.
What I understood is to try to get a position into the market at (daily or current daily extremes) based on smaller timeframes in direction of profit, i.e. in direction of larger timeframes. Once you are in the market and caught the right direction you "simply" scale-in and switch to higher timeframes (if possible) until the target is reached or the trend is about to change direction. You probably will have some losers or only small profits until you catch the big move of year and this the time to make real profits. In the end, it's all about proper money management and having a plan.
I have to admit, in the past i only scaled-out to lock in some profits. But I think these times are over now.
Thank you very much MightyOne (and TRO and some others) for opening my eyes. I wish I would have read this thread some years earlier.
But there is one thing I haven't figured out up to now: What is the definition of a "Fat Cat", please?
It is not really important, but since it is written on a lot of charts it would be nice to understand this, too.
Again, thank you,
Fin
PS: some links for this context I found/collected:
Thread on babypips
Definition of space
- bredin
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The original position isnt exactly where Id want it, but I this does show the fib tool being used to plot lot changes and shows what happens to the position, when lots are adjusted at the adjustment price, and I wanted to show two lotsize reductions.
The pink shows the general rule, the blue a specific example.
All Ive done is delete the 50% line, and relabel the others.
G.
edit, the 21 lot position is +13 lots, not +16
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