1) 1 for 4 means, for every 4 units you have, add one unit. If you don't have 4 units, you could use it as a fraction, and add 25% of your exposure.
3) Not true. Price often goes one way before going the other. Let's say the new year has just started. Price rises 300 pips, then drops 700. If you enter at the low extreme, you've got 700 pips to grab before you see a new high for the year.
Blind Mouse Strategy
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1) k makes sense. so when i get to 3 for 7 after adding 1 for 4 the 7 refers to the inital entry plus the first stack added?
3) right. but the scenario u stated is not always the case either. lets say at the start of a new year a major downtrend on the weekly is continued. so when it moves either up or down i will be at a yearly low or high depending which way it goes.
3) right. but the scenario u stated is not always the case either. lets say at the start of a new year a major downtrend on the weekly is continued. so when it moves either up or down i will be at a yearly low or high depending which way it goes.
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cwn6161 wrote:Jalarupa wrote:HEY MO!
Back on topic... hopefully...
When we gonna get some schooling on 1-2-3 patterns, candle numberings, waves or any other cool tricks you use in your analysis?
Trying my luck here...
Search MO's posts, there is a ton of info on that already.
Repetition is the mother of learning
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Jalarupa
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LOL yeah I know... trying my luck... Just dont wanna see this thread die.... Was reading and still do read NLA and everything presented there is presented here, bar the introduction of CC's and a few odds and ends... I guess I just wanna see it we could go deeper into the world of the successful professional trader... I mean I'd love to revisit concepts like diamonds of perception, channeling, and the like... kinda like refreshers... or have they become obsolete?
jarnapal wrote:cwn6161 wrote:Jalarupa wrote:HEY MO!
Back on topic... hopefully...
When we gonna get some schooling on 1-2-3 patterns, candle numberings, waves or any other cool tricks you use in your analysis?
Trying my luck here...
Search MO's posts, there is a ton of info on that already.
Repetition is the mother of learning
Don't I know it! But MO has spoken a ton on those things already. Asking him to explain it more would be just copy/paste his old stuff. Unless you already know the basics to 1-2-3, DoP, etc. etc... why wouldn't you ask a question specific to a method rather than "can you talk about it more". Just keep re-reading his posts on the methods until you can't answer your questions, or you have none left
TY MO
MO, just wanted to say TY for your instruction.
Price either closes over a line or it does not. Price either closes below a line or it does not. Now realize what you were saying, and hopefully, getting it.
Price either closes over a line or it does not. Price either closes below a line or it does not. Now realize what you were saying, and hopefully, getting it.
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Price closed over a line that you believed to be support and that is the first indication that something is WRONG-MO
[quote="erika_bb"]1) k makes sense. so when i get to 3 for 7 after adding 1 for 4 the 7 refers to the inital entry plus the first stack added?
CurrentNumberOfLots / TotalLotsAfterLastPurchase = RET
I have 6 lots and purchase 9 more setting my average at a 40% RET between my last price/average and last purchase price.
6 lots divided by a total of 15 lots is 40%.
If you have 8 lots and set an average at an 80% RET (1 for 4) then you will own 10 lots.
Now you measure from your average to the current price and decide that you want to set your new average on a ~70% RET between the two points, 3 for 7, but you have 10 lots...
10/13 = ~77% RET
10/14 = ~71% RET
You add 4 lots.
It is nice to set these numbers on your FIBO tool so you can at least guesstimate how many lots you can add without your average moving beyond S&R.
1 for 4: 80%
3 for 7: 70%
2 for 3: 60%
1 for 1: 50%
3 for 2: 40%
CurrentNumberOfLots / TotalLotsAfterLastPurchase = RET
I have 6 lots and purchase 9 more setting my average at a 40% RET between my last price/average and last purchase price.
6 lots divided by a total of 15 lots is 40%.
If you have 8 lots and set an average at an 80% RET (1 for 4) then you will own 10 lots.
Now you measure from your average to the current price and decide that you want to set your new average on a ~70% RET between the two points, 3 for 7, but you have 10 lots...
10/13 = ~77% RET
10/14 = ~71% RET
You add 4 lots.
It is nice to set these numbers on your FIBO tool so you can at least guesstimate how many lots you can add without your average moving beyond S&R.
1 for 4: 80%
3 for 7: 70%
2 for 3: 60%
1 for 1: 50%
3 for 2: 40%
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