Never Lose Again

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BambinoFlex
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Re: Never Lose Again

Postby BambinoFlex » Wed Feb 02, 2022 4:01 pm

buffalo wrote:
BambinoFlex wrote:
aliassmith wrote:
Sorry man. I don't recall anything about eights . I know it exists but I would need a refresher course. BTW don't ask about the diamond of perception either. I going to assume MO was on acid when he went over that.



Ah okay, it’s cool…what the…Diamond of perception lol I did a quick search and…yeah….that’s something else


From my understanding is that eights is a money management for line trading. say you have 8 lines worth $25 (A $200 box). you want the lines to be worth more so you double the value of the lines and half the amount of lines you have, now you have 4 lines worth $50 each. box is still worth $200.

Now the "risk box" is more or less your catastrophic stop loss. example, your trading eur/usd with a 80 pip stop loss. but you manually get out if price closes 8 pips against you. In this example you have an 8 line risk box (80 pips) and you just lost 1 line (8 pips).



My main question is if it's a fixed grid. Meaning that the lines are spaced equally or if they're dynamic depending on HATR fluctuations.
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TheRumpledOne
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Re: Never Lose Again

Postby TheRumpledOne » Wed Feb 02, 2022 5:42 pm

buffalo wrote:
Now the "risk box" is more or less your catastrophic stop loss. example, your trading eur/usd with a 80 pip stop loss. but you manually get out if price closes 8 pips against you. In this example you have an 8 line risk box (80 pips) and you just lost 1 line (8 pips).



80 PIP STOP LOSS, 8 LINES MEANS EACH LINE IS 10 PIPS APART NOT 8!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Re: Never Lose Again

Postby buffalo » Wed Feb 02, 2022 7:37 pm

TheRumpledOne wrote:
buffalo wrote:
Now the "risk box" is more or less your catastrophic stop loss. example, your trading eur/usd with a 80 pip stop loss. but you manually get out if price closes 8 pips against you. In this example you have an 8 line risk box (80 pips) and you just lost 1 line (8 pips).



80 PIP STOP LOSS, 8 LINES MEANS EACH LINE IS 10 PIPS APART NOT 8!!


woops lol. you are correct, guess it was a little past my bedtime when i posted and I forgot how to do math :shock:

BambinoFlex wrote:
buffalo wrote:
BambinoFlex wrote:

Ah okay, it’s cool…what the…Diamond of perception lol I did a quick search and…yeah….that’s something else


From my understanding is that eights is a money management for line trading. say you have 8 lines worth $25 (A $200 box). you want the lines to be worth more so you double the value of the lines and half the amount of lines you have, now you have 4 lines worth $50 each. box is still worth $200.

Now the "risk box" is more or less your catastrophic stop loss. example, your trading eur/usd with a 80 pip stop loss. but you manually get out if price closes 8 pips against you. In this example you have an 8 line risk box (80 pips) and you just lost 1 line (8 pips).



My main question is if it's a fixed grid. Meaning that the lines are spaced equally or if they're dynamic depending on HATR fluctuations.


I believe as long as they're spaced to some kind of atr of the chart you looking at. like maybe when you sit down to trade you look at the atr and decide youll make the lines spaced 7 pips apart. The atr may fluctuate between 6 to 8 pips (or more) in the time youre sitting down. but you dont need to go re-adjusting line width every time the atr fluctuates a little bit. I dont want to say it doesnt matter, but i dont think it matters that much. you could make line width fixed one day then make it dynamic the next day changing width every 10 minutes. The appeal of eights is you can do whatever you want with it

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Re: Never Lose Again

Postby prochargedmopar » Wed Feb 02, 2022 11:00 pm

BambinoFlex wrote:
aliassmith wrote:
BambinoFlex wrote:I also want to add that Dragon seemed to have a similar idea. He says that he uses the 3zz and trades off the #3. As a previous post explains, the #3 tends to create an "extreme"


He also told me or posted that the 3zz was so he could walk around the house and glance at the screen so he can see if a possible trade is coming. :D



Hey Alias, I know it’s already been explained a hundred times, but can you explain “eights” to me? It seems I understand you more than MO lol


It's toward the end of Ideas that I trade by thread.

It is a was to manage money, enter and exit the markets with ease, build accounts quickly, AND not have to use your OWN money to do it.

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Re: Never Lose Again

Postby BambinoFlex » Fri Feb 04, 2022 2:32 am

Busy week. Shared this with another friend who brought up the idea of a bullish UCAD. I agree. Based on my idea behind pivots. I do see a good possibility of a long, potentially reaching Monthly R1 vs Monthly S1.

Here's how I see the market:
Price breaks previous highs/lows. Price Does NOT break previous highs/Lows. Price Breaks BOTH highs and lows. Which high? Which low? Previous month, previous hour, previous minute, etc.... Its the natural movement and creation of price. Entry is up to the trader, and that's probably what separates the men from the boys. Thank you all in Kreslik, I wouldn't be here today if it wasn't for everyone here.
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Re: Never Lose Again

Postby BambinoFlex » Fri Feb 04, 2022 2:34 am

prochargedmopar wrote:
BambinoFlex wrote:
aliassmith wrote:
He also told me or posted that the 3zz was so he could walk around the house and glance at the screen so he can see if a possible trade is coming. :D



Hey Alias, I know it’s already been explained a hundred times, but can you explain “eights” to me? It seems I understand you more than MO lol


It's toward the end of Ideas that I trade by thread.

It is a was to manage money, enter and exit the markets with ease, build accounts quickly, AND not have to use your OWN money to do it.

"If you are going to risk a lot of money, make sure it belonged to someone else". MightyOne



Thanks for sharing Pro, now it makes sense. "Click" Make sure it belonged to someone else...
"If you're wrong, guess what...thats TRADING"

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BambinoFlex
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Re: Never Lose Again

Postby BambinoFlex » Fri Feb 04, 2022 2:39 am

BambinoFlex wrote:
aliassmith wrote:
BambinoFlex wrote:
I read through his stuff again and I think you worded it correctly. His first step when trading off an extreme (seems that weekly was a preference?) he would have a larger stop loss. Of course he didn't trade with a stop loss but its to keep the ideas linear with those that do.

Once price moved in his favor, he would "reduce his box size" allowing him to increase his position. This is where he would show a box size of 8 with an entry of 5 lots and then show a box size half of 8 (4) and a new max lot of 10.


He also started using daily or daily+



Would it be because he realized that "Price is the same regardless of timeframe?" meaning that if you trade off a weekly extreme, you're also technically trading off a daily, 4hr, 1hr...1min extreme?

In this trade I was able to enter, and normally I would expect the previous days low to be passed, but as the day progressed price did not move lower. I was able to reduce my initial stop by half, allowing me to add to my position while keeping my risk the same. In the words of MO, space was reduced by half, allowing my position to double. Targeting Weekly R1. MO would probably target the previous week high, but because this week's low is less than previous week low, a weekly outside bar would form if the previous high is also broken. Outside bars are less likely, so my target stays at S1.

My next play is to continue adding if price allows. Currently, if the expansion is completed, I will have a 3 to 1 trade. Making it very difficult to lose over a long period of time.




I had the right idea but got shaken out. Ended up with a -$1 loss. Price was a few points away from target, when it reversed sharply, only to later hit target and currently sitting well above weekly R1. Not hurting, part of the process.
Last edited by BambinoFlex on Fri Feb 04, 2022 2:41 am, edited 1 time in total.
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Re: Never Lose Again

Postby BambinoFlex » Fri Feb 04, 2022 2:41 am

Thanks buffalo for sharing. I will look into the eights, as I do see a benefit to it.
"If you're wrong, guess what...thats TRADING"

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Re:

Postby BambinoFlex » Fri Feb 11, 2022 6:52 am

es/pip wrote:i target what ever makes sense-----

at the start i am more conservative targeting to zero out closer targets

this trade was based of the hr chart so i am looking for h1-h4 targets

if i trade a setup on the 5 i am looking to target on 5 or 15

------------------- on the 15 i am looking to target on 15-30

etc etc

at this point i was up a poop load of pips :D

so i was going for a larger target---- but had the PA turned on my sooner i would have looked to get out at whatever price i could

nice trade


Bump for those looking into ES Pip entry and target. I sorta understand. Seems that ES pip was aware of larger tf targets but entering on smaller timeframes. This would produce the best RR and wouldn’t necessarily require a large winrate though based on what I’ve read, it seems ES had a large RR potential and a high winrate.
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Re: Never Lose Again

Postby onontsira » Sun Feb 13, 2022 3:27 pm

BambinoFlex wrote:
aliassmith wrote:
BambinoFlex wrote:

Hey Alias, I know it’s already been explained a hundred times, but can you explain “eights” to me? It seems I understand you more than MO lol


Sorry man. I don't recall anything about eights . I know it exists but I would need a refresher course. BTW don't ask about the diamond of perception either. I going to assume MO was on acid when he went over that.



Ah okay, it’s cool…what the…Diamond of perception lol I did a quick search and…yeah….that’s something else


Hi there, I don't post anymore but still have a look at Kreslik from time to time... As I see you are making great efforts to understand MO teachings, I allow myself to give my 2 cents regarding Diamond of Perception: after all these years I can tell that this is THE way to go. If you study it in depth, you will then realize that until now you only look at half of the information provided by price action... Don't give up, it's worth it

Onontsira

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