How to be a MOnster

[prochargedmopar]

The top is a V8Power pivot OR Zero Line. (gap closed)
When price closes below it will become Resistance.

What is a V8power pivot. haha. He would love having something named after him.

S/R does exist only in are mind, but as human we project what is in our minds into the market and they become self fulfilling. That's all

Before he left he stated "It's all about the pivot".

Strong turns in price that once broken become S/R.

V8PowerPivots.JPG (113.2 KiB) Viewed 2522 times

This weekend I will have some time to go back and re-read post made by him in my thread to see what's up.
I don't think I really listened much.

I also want to go back and read every one of your posts as you are the closest thing to him that is left on this planet.

[prochargedmopar]

If you want to see the illusion then drop 5 random lines on your chart and scroll backwards through the price history.

Shuffle the lines as many times as you wish and be amazed at your pip perfect accuracy

The truth hurts, I know.

Wasn't it like 6+ years ago that I was dropping red lines on the month/weekly/daily highs/lows that had many touches.
They worked to trade to, trade from, and trade retest and breaks.
Why you didn't tell me back then I was imagining things?
TOO MANY LINES you said.
Hmmmmmm

Now your chart is full of LINES!!!!

[Mira]

And I took the money too early, again

Based on what? Hours, days, weeks, months, years?

As Ken Roberts used to say, "if how much profit to take is your only problem then what a problem to have!"

thank you MO, your help is precious.

[Mira]

If you want to see the illusion then drop 5 random lines on your chart and scroll backwards through the price history.

Shuffle the lines as many times as you wish and be amazed at your pip perfect accuracy

The truth hurts, I know.

I was bored. Haha, I swear I placed these randomly. I could have trade these lines randomly and done better the most traders.

LOL that is funny

[Mira]

Before he left he stated "It's all about the pivot".

Strong turns in price that once broken become S/R.

V8PowerPivots.JPG

This weekend I will have some time to go back and re-read post made by him in my thread to see what's up.
I don't think I really listened much.

I also want to go back and read every one of your posts as you are the closest thing to him that is left on this planet.

I’m sure you could teach me to trade PRO, trust yourself and your charts!

[Mira]

I shorted from the upper red line to the lower one (the magenta H-Line was my SL).

Even if price could close below and continue on the way down I preferred to take profits now than crying later

9486FAE1-3CBB-4796-9311-AAF619657090.png (57.92 KiB) Viewed 2695 times

[MightyOne]

Wasn't it like 6+ years ago that I was dropping red lines on the month/weekly/daily highs/lows that had many touches.
They worked to trade to, trade from, and trade retest and breaks.
Why you didn't tell me back then I was imagining things?
TOO MANY LINES you said.
Hmmmmmm

Now your chart is full of LINES!!!!

If they 'worked' then what made you stop using them? Or do you simply mean that when you don't use a stop loss price will eventually/maybe move in your favor?

That said,

my chart is not 'full of lines' unless I am posting a chart.

Aside from the charts (2 SMA is a chart), I have the 40 SMA to alert me 2 to 3 bars before the AO is likely to cross and I have 'lines' that allow me to see what my money management looks like when applied to the chart; so that is 2 things, a 40 squiggly and a segmented MM box.

Even when using SSG the lines are only there for the purpose of position sizing and money management...

you're funny, PRO, but I don't have time for a laugh
Every post is at least 30 minutes out of my day.

EURTRYH4.png (64.13 KiB) Viewed 2677 times

[thepark]

Hi Mira

Trust that you are well. I want to critique on this MM, compare what its lacking to EIGHTS and if you like, teach me in a simplified way.

So I set my trade size to risk 1.666% of my account. I will risk 30 pips for 2:1 RR. Here you go back out the lot size.

I start with say a lot size of 1 lot and when I win I will increase the lot size like this

Number of lines gained/number of previous lines* (starting lot size)

lets say each line is 15 pips then its 14/10* 1(lets say its 1 lot) =1.4 so your next trade you use 1.4 lots

each time you win you can multiply your previous lot size by 1.4 and when you lose you can do 8/10*lot size. Is this stacking?

The problem is if you keep winning and losing and winning and losing you actually lose more money then if you didnt reset your lot size each time. if you just kept losing 1.666% every time.

How do I change this MM to be like EIGHTS.

Hi Thepark!

I think that the real intent of EIGHTS is to keep you in the game when you are losing and trying to make more when you are winning.. it's more than numbers, it's
a state of mind

Let's say you have a 1:2 RR and that you're risking 1% of your account (account = 100$)

1) +2% = 102$
2) -1% = 100.9$
3) +2% = 102.9$
4) -1% = 101.8$

Now with lines, you have 10 lines (10% of your account aka 10$) and you risk 1 line per trade and target 2.

1) (12/10)1= 1.2 = 102$
2) (9/10)1.2= 1.08 = 100.8$
3) (12/10)1.08= 1.3 = 103$
4) (9/10)1.3= 1.17 = 101.1$

In a situation of BE you're making/losing the same money.
Now let's say that you make 3 wins

5) +2% = 103.83$
6) +2% = 105.9$
7) +2% = 108$

with lines

5) (12/10)1.17= 1.4 = 104$
6) (12/10)1.4= 1.68 = 106.8$
7) (12/10)1.68= 2 = 110$

You're up of two dollars now, it's a +20% than a "classic MM".
Now let's say that you are losing 3 trades:

8 ) -1% = 106.9$
9) -1% = 105.83$
10) -1% = 104.77$

with lines

8 ) (9/10)2 = 1.8
9) (9/10)1.8 = 1.62
10) (9/10)1.62 = 1.45

Now try to add a winning trade, with EIGHTS you are making more, and we are just talking about basic "strategies"!
Trying to not destroy your risk box (that is the only real loss) is the Metagame, all the trades between the total loss and your target are just fluctuations, a path as MO says.

When you have some OPM in your pocket you can try to be more aggressive (with lines):

here I'm boosting my RB reducing the number of lines from 10 to 6, risk is still 1 line and 2 is the target-> (10/6)2 = 3.3

8 ) (8/6)3.3= 4.4
9) (8/6)4.4= 5.8
10) (8/6)5.8= 7.7

Do you want your 10 lines back? -> (6/10)7.7 = 4.62
Your account is 136.2$ now

that was a really good post. thanks!

does this make sense? risking 0.16666% every two lines with 15 pips per line?

[thepark]

Hi Mira

Trust that you are well. I want to critique on this MM, compare what its lacking to EIGHTS and if you like, teach me in a simplified way.

So I set my trade size to risk 1.666% of my account. I will risk 30 pips for 2:1 RR. Here you go back out the lot size.

I start with say a lot size of 1 lot and when I win I will increase the lot size like this

Number of lines gained/number of previous lines* (starting lot size)

lets say each line is 15 pips then its 14/10* 1(lets say its 1 lot) =1.4 so your next trade you use 1.4 lots

each time you win you can multiply your previous lot size by 1.4 and when you lose you can do 8/10*lot size. Is this stacking?

The problem is if you keep winning and losing and winning and losing you actually lose more money than if you didnt reset your lot size each time. if you just kept losing 1.666% every time.

How do I change this MM to be like EIGHTS.

The 1.666% would be spread over 10 lines of risk for 10 lines of .166%

(14/10).166 = 0.232% per line

How wide your lines are determines your position size and how many lines you use on a given trade determines your risk.

After some stacking, each line is worth say .637% so removing 1 line from the game reduces your risk significantly.

You can restore your lines to 10 after a loss or you can set it to 8 or 6 or as low as 1 if you are desperately low on lines and
feel that a single line SweetSpotsGOLD (SSG) trade on the monthly chart is your best bet to recover some lines.

What would happen if you never lost 1.666%? What if you just stayed in this 'risk range' until you stacked your size high enough to reach +20%?

Sure, you could risk roughly 1.666% per trade and make more money on your wins but what happens if you lose 3 trades and are down 5% and then lose another trade for -6.5%? This might seem like a small number but if you average a loss 1.25% per day then you are out a quarter of your account by the end of the month.

EIGHTS is the best of both worlds:
Whether you destroy your lines in 5 trades or 25 trades your loss is just 1.666%, but if you succeed at stacking your way to the goal then you make 20% (or whatever your target is) for 12:1 on your money.

How often do you have to reach your target to be a profitable trader?

so i start off with a risk box and the i split that risk box into ten lines.

should the risk box be a certain percentage of your account size?

how do i determine how many pips one line of risk is? can i say its 15 pips? risk per line automatically goes up by timeframe right? the higher the TF the wider the lines and the smaller my position size?

so i can back out my initial lot size from 0.1666% of account = 30p SL x lot size

if i lose my first trade i do not decrease my lot size because that is my min lot size?

is there a cap at what lot size you use if you keep winning?

thanks MO!

[Mira]

Hi Mira

Trust that you are well. I want to critique on this MM, compare what its lacking to EIGHTS and if you like, teach me in a simplified way.

So I set my trade size to risk 1.666% of my account. I will risk 30 pips for 2:1 RR. Here you go back out the lot size.

I start with say a lot size of 1 lot and when I win I will increase the lot size like this

Number of lines gained/number of previous lines* (starting lot size)

lets say each line is 15 pips then its 14/10* 1(lets say its 1 lot) =1.4 so your next trade you use 1.4 lots

each time you win you can multiply your previous lot size by 1.4 and when you lose you can do 8/10*lot size. Is this stacking?

The problem is if you keep winning and losing and winning and losing you actually lose more money then if you didnt reset your lot size each time. if you just kept losing 1.666% every time.

How do I change this MM to be like EIGHTS.

Hi Thepark!

I think that the real intent of EIGHTS is to keep you in the game when you are losing and trying to make more when you are winning.. it's more than numbers, it's
a state of mind

Let's say you have a 1:2 RR and that you're risking 1% of your account (account = 100$)

1) +2% = 102$
2) -1% = 100.9$
3) +2% = 102.9$
4) -1% = 101.8$

Now with lines, you have 10 lines (10% of your account aka 10$) and you risk 1 line per trade and target 2.

1) (12/10)1= 1.2 = 102$
2) (9/10)1.2= 1.08 = 100.8$
3) (12/10)1.08= 1.3 = 103$
4) (9/10)1.3= 1.17 = 101.1$

In a situation of BE you're making/losing the same money.
Now let's say that you make 3 wins

5) +2% = 103.83$
6) +2% = 105.9$
7) +2% = 108$

with lines

5) (12/10)1.17= 1.4 = 104$
6) (12/10)1.4= 1.68 = 106.8$
7) (12/10)1.68= 2 = 110$

You're up of two dollars now, it's a +20% than a "classic MM".
Now let's say that you are losing 3 trades:

8 ) -1% = 106.9$
9) -1% = 105.83$
10) -1% = 104.77$

with lines

8 ) (9/10)2 = 1.8
9) (9/10)1.8 = 1.62
10) (9/10)1.62 = 1.45

Now try to add a winning trade, with EIGHTS you are making more, and we are just talking about basic "strategies"!
Trying to not destroy your risk box (that is the only real loss) is the Metagame, all the trades between the total loss and your target are just fluctuations, a path as MO says.

When you have some OPM in your pocket you can try to be more aggressive (with lines):

here I'm boosting my RB reducing the number of lines from 10 to 6, risk is still 1 line and 2 is the target-> (10/6)2 = 3.3

8 ) (8/6)3.3= 4.4
9) (8/6)4.4= 5.8
10) (8/6)5.8= 7.7

Do you want your 10 lines back? -> (6/10)7.7 = 4.62
Your account is 136.2$ now

that was a really good post. thanks!

does this make sense? risking 0.16666% every two lines with 15 pips per line?

I don’t think that there is a fixed rule for this.. btw lines are spread by the indi based on the average hourly range, you don’t need to count 15 pips.

(MO has thought at everything )