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rushN4
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Postby rushN4 » Sat Jan 08, 2011 4:24 pm

aliassmith wrote:You control when you are in/out of the market, lots size, and space.

Remember that an adjustment sets your position on a ret; your first entry sets your position in the market at the 100% ret (max risk).

[highlight=red]You can move your position out of harms way by shedding lots:[/highlight]

(7/5) * space = 40% more space = a position further away from the current price.


"I have been doing something similar to this. I put on a position then after
it moves some I take lots off the table. When it creates points for new
entries I add in"-aliassmith-



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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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aliassmith
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Postby aliassmith » Sat Jan 08, 2011 4:37 pm

Well this is an AUD/USD position I put on H4.
The red box shows my space to stop loss.

Looks like I have 5 lots at 55pips.
Should I be looking to make my space bigger(cut size) or let it ride for now?
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Postby rushN4 » Sat Jan 08, 2011 4:46 pm

aliassmith wrote:Well this is an AUD/USD position I put on H4.
The red box shows my space to stop loss.

Looks like I have 5 lots at 55pips.
Should I be looking to make my space bigger(cut size) or let it ride for now?




Your box looks very small to me. One 4H candle could easy wipe out your stop. You should double or tripple your Boxsize.
But im not an expert at this still learning this.


(5/3)*55=91pip Box
(5/2)*55=137pip Box



-MO- If you let price make a 100% RET on high leverage then you did not think things through.

I draw I line through the pincushion, no deeper than 40%, where if price closes beyond it then I must exit. -MO-
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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Postby rushN4 » Sat Jan 08, 2011 5:10 pm

hi MO

is there a rule how we should calculate the initial Box size?
(how much pips on a 1H,4H,D1)

Or is this based of the trading style we use and everyone should find this out by himself?
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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Postby aliassmith » Sat Jan 08, 2011 5:33 pm

rushN4 wrote:
aliassmith wrote:Well this is an AUD/USD position I put on H4.
The red box shows my space to stop loss.

Looks like I have 5 lots at 55pips.
Should I be looking to make my space bigger(cut size) or let it ride for now?




Your box looks very small to me. One 4H candle could easy wipe out your stop. You should double or tripple your Boxsize.
But im not an expert at this still learning this.


-MO- If you let price make a 100% RET on high leverage then you did not
(5/3)*55=91pip Box
(5/2)*55=137pip Box


think things through.

I draw I line through the pincushion, no deeper than 40%, where if price closes beyond it then I must exit. -MO-


So you are thinking something like this 3lots/91pips and based on my H1
chart my "line in sand" can be my entry
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Postby rushN4 » Sat Jan 08, 2011 6:23 pm

aliassmith wrote:
rushN4 wrote:
aliassmith wrote:Well this is an AUD/USD position I put on H4.
The red box shows my space to stop loss.

Looks like I have 5 lots at 55pips.
Should I be looking to make my space bigger(cut size) or let it ride for now?




Your box looks very small to me. One 4H candle could easy wipe out your stop. You should double or tripple your Boxsize.
But im not an expert at this still learning this.


-MO- If you let price make a 100% RET on high leverage then you did not
(5/3)*55=91pip Box
(5/2)*55=137pip Box


think things through.

I draw I line through the pincushion, no deeper than 40%, where if price closes beyond it then I must exit. -MO-


So you are thinking something like this 3lots/91pips and based on my H1
chart my "line in sand" can be my entry


you need to be able to close your trade before your box get killed. You get out with a small loss and and calculate your box for the next trade.

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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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Postby Sledge » Sat Jan 08, 2011 8:04 pm

I completely understand the concept but am lost on everyone interpretation of a lots.

Mo based on the DMM image how would you set up the number of lots value in your spread sheet. and do I have the rest of the values correct ? based on the DMM image.

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Postby PebbleTrader » Sat Jan 08, 2011 10:13 pm

My "suggestion" has to do with spreadsheet design:

:shock:

Fixating on distracting visual characteristics of spreadsheets can lead to
problems that weaken their usefulness. With the limitless amount of
formatting available, it can be too easy to get caught up in making the
spreadsheet "look good" and then the display suffers.

To Be Continued...
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Postby PebbleTrader » Sat Jan 08, 2011 10:16 pm

Continued:

The challenge is to squeeze a lot of information in a small amount of space
and still be immediately understandable. We want a well organized sheet.
Place the information based on importance as well as desired viewing
sequence. We also want to segregate data into meaningful groups.

When you look at the spreadsheet, your eyes should immediately be drawn
to the information that is most important. If everything is visually
prominent, then as a result nothing stands out.

To Be Continued...
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Postby PebbleTrader » Sat Jan 08, 2011 10:18 pm

Continued:

Color should not be used irregularly. Color choices should be made
thoughtfully, with an understanding of our perception of color and the
importance of color differences. Some colors are hot and demand our
attention, while others are cooler and less visible. When any color appears
as a contrast relative to the norm, our eyes pay attention and our brains
attempt to assign meaning to that contrast. When colors in two different
sections of a spreadsheet are the same, we are tempted to relate them to
one another.

To Be Continued...
Last edited by PebbleTrader on Sat Jan 08, 2011 11:19 pm, edited 1 time in total.
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