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rushN4
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Postby rushN4 » Sun Jan 16, 2011 8:05 pm

MightyOne wrote:
rushN4 wrote:
PebbleTrader wrote:It's like what bredin said a few posts back:

bredin: "Looks to me like its ensuring that a single candle cant wipe out your position, giving time to reassess and adjust lots."


Image




I think i understand it now.... if one candle closes over my line (if/then los) the Box should be big enough that the candle closes not over my 40% line

"you are giving up too much space for the TF traded if the candle close over the 40% line of your Box"


If your box were 10,000 pips would you draw your IF/THEN at the 40% RET when trading the hourly chart?

The IF/THEN is BASED ON THE CHART!

If you feel that you need to draw your IF/THEN above the 40% RET then you are on a chart that is too large for you.

In other words, the "40% RULE" is only there to stop you from doing something stupid.





It was clear to me that the if/then los line is based on the chart(ZL,S/R,Fatcat...) and is not the 40% RET of my Box.

the only thing that was not clear to me : how big my Box should be.

but now i think i know how to size it. The Box should be big enough that the 40% RET not get reached (after a candle closed above the IF/then los linie)

Image
No matter where life takes you, you will always check the market and always want to continue being a part of it. It's like that first true love, it will always be there no matter what the distance, no matter whether they are alive or dead.

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MightyOne
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Postby MightyOne » Sun Jan 16, 2011 8:44 pm

rushN4 wrote:
MightyOne wrote:
rushN4 wrote:
PebbleTrader wrote:It's like what bredin said a few posts back:

bredin: "Looks to me like its ensuring that a single candle cant wipe out your position, giving time to reassess and adjust lots."


Image




I think i understand it now.... if one candle closes over my line (if/then los) the Box should be big enough that the candle closes not over my 40% line

"you are giving up too much space for the TF traded if the candle close over the 40% line of your Box"


If your box were 10,000 pips would you draw your IF/THEN at the 40% RET when trading the hourly chart?

The IF/THEN is BASED ON THE CHART!

If you feel that you need to draw your IF/THEN above the 40% RET then you are on a chart that is too large for you.

In other words, the "40% RULE" is only there to stop you from doing something stupid.





It was clear to me that the if/then los line is based on the chart(ZL,S/R,Fatcat...) and is not the 40% RET of my Box.

the only thing that was not clear to me : how big my Box should be.

but now i think i know how to size it. The Box should be big enough that the 40% RET not get reached (after a candle closed above the IF/then los linie)

Image


...
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rushN4
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Postby rushN4 » Sun Jan 16, 2011 9:28 pm

MightyOne wrote:
rushN4 wrote:
MightyOne wrote:
rushN4 wrote:
PebbleTrader wrote:It's like what bredin said a few posts back:

bredin: "Looks to me like its ensuring that a single candle cant wipe out your position, giving time to reassess and adjust lots."


Image




I think i understand it now.... if one candle closes over my line (if/then los) the Box should be big enough that the candle closes not over my 40% line

"you are giving up too much space for the TF traded if the candle close over the 40% line of your Box"


If your box were 10,000 pips would you draw your IF/THEN at the 40% RET when trading the hourly chart?

The IF/THEN is BASED ON THE CHART!

If you feel that you need to draw your IF/THEN above the 40% RET then you are on a chart that is too large for you.

In other words, the "40% RULE" is only there to stop you from doing something stupid.





It was clear to me that the if/then los line is based on the chart(ZL,S/R,Fatcat...) and is not the 40% RET of my Box.

the only thing that was not clear to me : how big my Box should be.

but now i think i know how to size it. The Box should be big enough that the 40% RET not get reached (after a candle closed above the IF/then los linie)

Image


...



thanks MO,

there should be 1/3 left of your Original Box size if a candle closed above your IF/THEN LOS LINIE.....correct?

Image
No matter where life takes you, you will always check the market and always want to continue being a part of it. It's like that first true love, it will always be there no matter what the distance, no matter whether they are alive or dead.

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MightyOne
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Postby MightyOne » Mon Jan 17, 2011 3:52 am

rushN4 wrote:
MightyOne wrote:
rushN4 wrote:
MightyOne wrote:
rushN4 wrote:
PebbleTrader wrote:It's like what bredin said a few posts back:

bredin: "Looks to me like its ensuring that a single candle cant wipe out your position, giving time to reassess and adjust lots."


Image




I think i understand it now.... if one candle closes over my line (if/then los) the Box should be big enough that the candle closes not over my 40% line

"you are giving up too much space for the TF traded if the candle close over the 40% line of your Box"


If your box were 10,000 pips would you draw your IF/THEN at the 40% RET when trading the hourly chart?

The IF/THEN is BASED ON THE CHART!

If you feel that you need to draw your IF/THEN above the 40% RET then you are on a chart that is too large for you.

In other words, the "40% RULE" is only there to stop you from doing something stupid.





It was clear to me that the if/then los line is based on the chart(ZL,S/R,Fatcat...) and is not the 40% RET of my Box.

the only thing that was not clear to me : how big my Box should be.

but now i think i know how to size it. The Box should be big enough that the 40% RET not get reached (after a candle closed above the IF/then los linie)

Image


...



thanks MO,

there should be 1/3 left of your Original Box size if a candle closed above your IF/THEN LOS LINIE.....correct?

Image


or more in a perfect world :lol:

Please note that the reason I leave ~1/3 space is that I like to set my position on 80-60% RETS when working with small charts.

The deepest RET that I set is 40% and that is only when I believe there will be a fast move in my favor; if you set anything closer than 60% you had better be more than pretty sure.

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rushN4
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Postby rushN4 » Mon Jan 17, 2011 6:08 pm

:) here is my first try at using my sword by adding lots.....if it breaks the box low i add 1 lot to my position

Image
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Postby Jalarupa » Mon Jan 17, 2011 6:35 pm

I was thinking that you could also start with smaller lots than your total risk% and average in if price goes against you towards your 40% line...

*edit - obviously you wanna get the whole position out there as price moves in your favour... and the cool thing is you can still maintain a large pincushion if you do it gradually... Striking big on pullbacks and wicks...

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MightyOne
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Postby MightyOne » Mon Jan 17, 2011 7:12 pm

The fear is strong in you trainees, but we will make soldiers out of you yet :smt064 :smt075 BlackEye_Smile :smt066
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rushN4
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Postby rushN4 » Mon Jan 17, 2011 7:43 pm

MightyOne wrote:The fear is strong in you trainees, but we will make soldiers out of you yet :smt064 :smt075 BlackEye_Smile :smt066





okok its not a sword its more a paper knife that i use in the trade above... :)

hmmm this picture is not so easy to understand...

why do the Boxes not begin at 1,3372 (7/7) ?

i have to think about it a little longer....

Image
No matter where life takes you, you will always check the market and always want to continue being a part of it. It's like that first true love, it will always be there no matter what the distance, no matter whether they are alive or dead.

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rushN4
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Postby rushN4 » Mon Jan 17, 2011 7:51 pm

Jalarupa wrote:I was thinking that you could also start with smaller lots than your total risk% and average in if price goes against you towards your 40% line...

*edit - obviously you wanna get the whole position out there as price moves in your favour... and the cool thing is you can still maintain a large pincushion if you do it gradually... Striking big on pullbacks and wicks...



initial box was 141pips with 7lots....price goes down....initial box grows to 236pips......price closed over something....new if/then los.....increase to 8lots and shrink the Box to 206pips.


thats what i did or try to do...
No matter where life takes you, you will always check the market and always want to continue being a part of it. It's like that first true love, it will always be there no matter what the distance, no matter whether they are alive or dead.

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bredin
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Postby bredin » Mon Jan 17, 2011 9:12 pm

Im in that as well, added some lots last night... price is still well away from my average line (which just happens to be the IF/THEN line as well)
My next average line and RiskSpace is planned....

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