Libertarians take on trading

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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Wed Mar 28, 2018 3:38 pm

If you flip a coin and price either goes up or down. I'm 0/6 right now. Still think I'm on the right track and will be working hard to fill in the gaps. Had a great conversation last night that will hopefully allow me to continue to add to my tool belt. Sincere thank you to the people on this board. =D>

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Re: Libertarians take on trading

Postby Libertarian » Wed Mar 28, 2018 3:51 pm

Thanks IgazI, I'm reading as fast as I can to get the MM you and MO have discussed.

So you see the cup and the price below your line and just hit the button right? Risk a line?

IgazI wrote:Here we have prev. selling from a price level on the M30, a 'cup' (2 SMA peak for shorting), bearishness around the 40 SMA on the H4, & 12 hour candle color.

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Re: Libertarians take on trading

Postby IgazI » Wed Mar 28, 2018 4:09 pm

Libertarian wrote:Thanks IgazI, I'm reading as fast as I can to get the MM you and MO have discussed.

So you see the cup and the price below your line and just hit the button right? Risk a line?

IgazI wrote:Here we have prev. selling from a price level on the M30, a 'cup' (2 SMA peak for shorting), bearishness around the 40 SMA on the H4, & 12 hour candle color.

anotherTYPE.png


Right, risk lines and make lines.

If you get a strong wick reversal near +1 then exit for > +0.5

If you are going to hold then you need the H4 to move in the same direction as the larger candle color:

As a rule, stack first (something, anything) and then think about holding.

[EDIT] you might be thinking "ok, what do I do now?" but since the H4 candle looks like garbage the first thing that you are going to do is wait for a new H4 open. You do the same on the small chart: 1. think about what you are going to do, 2. wait for a new M30 open, 3. commit to an action before the open ("on a new M30 and when price touches the line I'm not going to think; I'm just going to act")

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Libertarian
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Re: Libertarians take on trading

Postby Libertarian » Wed Mar 28, 2018 4:23 pm

Of *censored - swear word* COURSE THIS TAKES OFF :x

Libertarian wrote:If you flip a coin and price either goes up or down. I'm 0/6 right now. Still think I'm on the right track and will be working hard to fill in the gaps. Had a great conversation last night that will hopefully allow me to continue to add to my tool belt. Sincere thank you to the people on this board. =D>

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Re: Libertarians take on trading

Postby PTG » Wed Mar 28, 2018 10:03 pm

Libertarian wrote:Of *censored - swear word* COURSE THIS TAKES OFF :x

Libertarian wrote:If you flip a coin and price either goes up or down. I'm 0/6 right now. Still think I'm on the right track and will be working hard to fill in the gaps. Had a great conversation last night that will hopefully allow me to continue to add to my tool belt. Sincere thank you to the people on this board. =D>

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erm - not sure if you know that flipping a regular coin isn't 50/50 ? Both sides are different so one side will come up more often that the other, given a large enough sample size. :idea:

--edit-- blame it on Russia. :shock:

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Re: Libertarians take on trading

Postby Libertarian » Wed Mar 28, 2018 10:12 pm

I know that my sample size is not a good representative sample of my ability to trade. I know that one 200 pip trade is all I need to be right back to BE. I see plenty of those. A friend of mine said I need to change the perception I have of myself. I have tried to take that to heart. This was a dumb post that I shouldn't have made. Thanks PTG.

PTG wrote:
Libertarian wrote:Of *censored - swear word* COURSE THIS TAKES OFF :x

Libertarian wrote:If you flip a coin and price either goes up or down. I'm 0/6 right now. Still think I'm on the right track and will be working hard to fill in the gaps. Had a great conversation last night that will hopefully allow me to continue to add to my tool belt. Sincere thank you to the people on this board. =D>

spx500-h1-capital-city-markets.png

spx500-m15-capital-city-markets.png


erm - not sure if you know that flipping a regular coin isn't 50/50 ? Both sides are different so one side will come up more often that the other, given a large enough sample size. :idea:

--edit-- blame it on Russia. :shock:

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Re: Libertarians take on trading

Postby PTG » Wed Mar 28, 2018 10:50 pm

Libertarian wrote:I know that my sample size is not a good representative sample of my ability to trade. I know that one 200 pip trade is all I need to be right back to BE. I see plenty of those. A friend of mine said I need to change the perception I have of myself. I have tried to take that to heart. This was a dumb post that I shouldn't have made. Thanks PTG.

PTG wrote:
Libertarian wrote:Of *censored - swear word* COURSE THIS TAKES OFF :x



erm - not sure if you know that flipping a regular coin isn't 50/50 ? Both sides are different so one side will come up more often that the other, given a large enough sample size. :idea:

--edit-- blame it on Russia. :shock:


I admit I haven't read your previous posts, the coin flip was what caught my eye. I was partaking in an experiment during a seminar I followed quite a few years ago; most people don't realise this (nor did I at the time). It is a minimal edge, but it is an edge and one could profit from it, and that's the lesson to draw from it: do the same thing over and over again, and provided you have an edge and your risk management is good enough, you will profit. Thing is, we trade our own beliefs and that is what is so difficult to deal with for most (and one must start to realise that in the first place). So, I can understand why your friend makes the remark about your perception of "self". It's a constant struggle, believe you me. But it is rewarding in many ways, not in the least because one meets like-minded people who aren't afraid to take responsibility of their lives into their own hands. Just keep hammering away =D>

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Re: Libertarians take on trading

Postby IgazI » Thu Mar 29, 2018 3:08 am

Libertarian wrote:... I know that one 200 pip trade is all I need to be right back to BE...


Incorrect.

Let's say that your SL is 20 and your goal is to reach 200 pips of profit.

Stacking:
1. you make 10 pips: 190 / (30/20) = 126.666 pips to goal.
2. you make 15 pips: 111.666 / (35/20) = 63.809 pips to goal.
3. you make 25 pips: 38.809 / (45/20) = 17.248 pips to goal.

50 pips were made & you took 182.752 pips of profit.

Not losing 20 pips (your risk-box) and increasing your trade size is worth more than a 1000 pip move.

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Re: Libertarians take on trading

Postby IgazI » Thu Mar 29, 2018 3:23 am

PTG wrote:
--edit-- blame it on Russia. :shock:


Putin is Russia.

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Re: Libertarians take on trading

Postby IgazI » Thu Mar 29, 2018 4:05 am

As per the last post, you waited for the H4 open (also an M30 open), you selected a trigger line, and you committed yourself to an action.

Price backed away from +1 so your first thought is to take profit above +0.50

You can always continue long at a later time but +0.50 stacked twice is 26.5% more profit when price eventually moves (on any chart, you're not married to this one): +0.75 stacked twice is 41% more profit.

Think of everything you do prior to stacking as BE trading :lol:

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