Blind Mouse Strategy

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MightyOne
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Postby MightyOne » Thu Jul 22, 2010 2:32 am

newark18 wrote:
MightyOne wrote:
aliassmith wrote:
MightyOne wrote:Uncertainty is a batch I know, good thing I don't need the money :wink:

Image




Image


Based on this, S&R lines based on STF H1 candles as opposed to CCs.




Image

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newark18
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Postby newark18 » Thu Jul 22, 2010 2:57 am

MightyOne wrote:
Image


At first glance, my reaction is huh? I thought S&R lines were derived from candle closes. And I see conflict between: (1) 50% mark is S&R used when doubling position; and (2) S&R line is your average price.

If someone who understands this chart can speak in nongenious terms then I would appreciate an explanation.
Failure is an opportunity to learn.

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MightyOne
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Postby MightyOne » Thu Jul 22, 2010 3:01 am

newark18 wrote:
MightyOne wrote:
Image


At first glance, my reaction is huh? I thought S&R lines were derived from candle closes. And I see conflict between: (1) 50% mark is S&R used when doubling position; and (2) S&R line is your average price.

If someone who understands this chart can speak in nongenious terms then I would appreciate an explanation.


If you double your position then your average price is the midpoint between your first and second order making a 50% RET your line of S&R...

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MightyOne
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Postby MightyOne » Thu Jul 22, 2010 3:10 am

If long:

Price should not close below your average price.

Price should not close below a line of support.

If you would take a short trade then you should not be long.

If you exit prior to a correction then you should enter where you would take profit had you actually went short.

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MightyOne
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Postby MightyOne » Thu Jul 22, 2010 7:50 am

ImageImage

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MightyOne
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Postby MightyOne » Thu Jul 22, 2010 8:15 am

I know that the gain in the above chart is not even worth posting :lol:

I saved it here for Vane so she can go back over the googletalk discussion and look at these charts :wink:

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vane
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Postby vane » Thu Jul 22, 2010 9:21 am

Thanks a lot MO :smt054

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Postby cwn6161 » Thu Jul 22, 2010 1:09 pm

Any comments on my picture would be very helpful.

Image

The top left blue line represents S&R. Large blue CC could not close above it, and price starts to move down. My potential entrance is the first red line.

Lower blue line is a new S&R. My exit is the red line, at the point where the large blue CC crosses over S&R line.

I believe I've got the concept of S&R. Determining the entrance/exit based on that is more difficult. This example is pretty clear cut, but how did I do on choosing my entrance/exit?

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newark18
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Postby newark18 » Thu Jul 22, 2010 1:41 pm

MightyOne wrote:
newark18 wrote:
MightyOne wrote:
Image


At first glance, my reaction is huh? I thought S&R lines were derived from candle closes. And I see conflict between: (1) 50% mark is S&R used when doubling position; and (2) S&R line is your average price.

If someone who understands this chart can speak in nongenious terms then I would appreciate an explanation.


If you double your position then your average price is the midpoint between your first and second order making a 50% RET your line of S&R...


So I interpret what you wrote to mean that S&R lines are derived from your average price rather than how previous candles closed. I previously thought that we look to candle closes to derive our S&R lines and use them to protect our average price.
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aliassmith
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Postby aliassmith » Thu Jul 22, 2010 2:00 pm

MightyOne wrote:ImageImage


Well you did hit the extreme I see. I don't believe I could of or would of
held the position like that. I definitly would have took profit at the place I
marked held profit. There was also nice entry near where I marked
resistance to go short again.

Guess "I" am more confortable trading from stops to stops, instead of
from stops to extremes.
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