The ideas that I trade by:

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xXx
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Postby xXx » Tue Jun 24, 2014 1:49 pm

MO says: Always oversize your space.

How much space would you use?
Would that be...
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Jalarupa
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Postby Jalarupa » Tue Jun 24, 2014 2:19 pm

Image

Using a stop below the swing low, which is covered by both by the MOMO H1 Zline, Dragon Lines and the H4 Zline... So I figured I could afford to tighten things up...
:smt065

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MightyOne
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Postby MightyOne » Tue Jun 24, 2014 5:51 pm

xXx wrote:MO says: Always oversize your space.

How much space would you use?
Would that be...


My space would be 15, 25, or 35 pips.

Where before I might have entered for varying lot sizes I now initiate a trade at minimum size.

I have also cut my risk significantly to 0.5% per 10 pips while doubling the number of charts I trade at one time.

Start by using the smallest box size from the 2+ day extremes & then increase as needed.

Once in a trade immediately plan your double.
After you double you add 50% as if you were scalping in the direction of profit only instead of closing a small trade you liquidate everything.

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Libertarian
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Postby Libertarian » Thu Jun 26, 2014 5:00 am

I'd like to tell you Jalarupa, I really appreciate the effort you put in all over this board (and others). You have really helped me understand these concepts even though I haven't been vocal until recently. Caps off to you sir.

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Libertarian
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Postby Libertarian » Thu Jun 26, 2014 5:07 am

xXx wrote:What would you do if price closed above something?


What an excellent chart. I would just like to point out that wicks work well also. :D

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Jalarupa
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Postby Jalarupa » Thu Jun 26, 2014 5:48 am

Libertarian wrote:I'd like to tell you Jalarupa, I really appreciate the effort you put in all over this board (and others). You have really helped me understand these concepts even though I haven't been vocal until recently. Caps off to you sir.


Thank you for the kind words, i wish to remain of service and use to this community (which has given so much to me).

I am merely repeating what I have been shown by the great great traders here on this forum. All credit goes to them... and I appreciate their continued participation and endeavor in further enlightening and instructing me.

If ever I can be of any help further, please ask :)
:smt065

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xXx
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Postby xXx » Thu Jun 26, 2014 9:26 am

Jalarupa wrote:Image

Using a stop below the swing low, which is covered by both by the MOMO H1 Zline, Dragon Lines and the H4 Zline... So I figured I could afford to tighten things up...

Thank you.
Do you think that a beginner should have bigger box?

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xXx
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Postby xXx » Thu Jun 26, 2014 9:28 am

MightyOne wrote: My space would be 15, 25, or 35 pips.

Where before I might have entered for varying lot sizes I now initiate a trade at minimum size.

I have also cut my risk significantly to 0.5% per 10 pips while doubling the number of charts I trade at one time.

Start by using the smallest box size from the 2+ day extremes & then increase as needed.

Once in a trade immediately plan your double.
After you double you add 50% as if you were scalping in the direction of profit only instead of closing a small trade you liquidate everything.

By double do you mean the lot size?
Could you show an example on a chart please?
What about catching the weekly+?

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xXx
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Postby xXx » Thu Jun 26, 2014 9:30 am

Libertarian wrote:
xXx wrote:What would you do if price closed above something?


What an excellent chart. I would just like to point out that wicks work well also. :D

I will keep that in mind...
I was surprised how couple of lines can change your view dramatically 8)

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Jalarupa
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Postby Jalarupa » Thu Jun 26, 2014 6:26 pm

xXx wrote:
Jalarupa wrote:Image

Using a stop below the swing low, which is covered by both by the MOMO H1 Zline, Dragon Lines and the H4 Zline... So I figured I could afford to tighten things up...

Thank you.
Do you think that a beginner should have bigger box?


Well i have experimented with box size... at first I was risking 1% over 100 pips...

That go me NOWHERE!!!

Then I started risking 3.5% at 60 pips... that got me scared out of trades off extremes only to watch the trade go in my favour... So i lost money and lost my awesome position...

I now risk 0.5% per trade on my first entry of a stack... and its cool cause if I think about it 0.5% means very little to me so I can lose it (heck I was losing way more when I was risking 3.5% /60 so in a way I'm glad that happened) so the psychological asoect has been tempered and I can explore adding our doubling my position at a pull back or breakout and then scalping half of a position size to my profit target .... Its an easy +2% off the first setup and then you can make that +2% work for you in your next setups... :)

Time to get MIGHTY!!!!
:smt065

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