The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sat Dec 20, 2014 8:16 pm


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Re: The ideas that I trade by:

Postby Captain Pugwash » Sun Dec 21, 2014 4:52 pm

I was not sure if I should post this here- but as its really about my toying with cones, I will. :)

I have gone back to using a line in the sand and more space approach - I can't find a way to trade with stops even at an extreme whilst at WORK - the LIS approach allows me to sneak off and look at a H4 candle - close over and its easy to exit - (I'm using VNC Viewer to access my home pc from a... errr ......small cubicle!!!!)

If I'm messing up the thread tell me, I'll stop! - its just that I notice that I trade better when I post :oops:

Image

and the trading chart

Image

and the reason I felt a long was worth a shot

Image

2014-12-21_1633.png
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2014-12-19_1720.png
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"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

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Re: The ideas that I trade by:

Postby seacap » Mon Dec 22, 2014 8:04 pm

Thanks for the feedback everyone.
Just to continue, questions are on the charts.
Image
Image

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Re: The ideas that I trade by:

Postby jscar » Wed Dec 24, 2014 4:32 pm

I'll at least give it a try, Seacap.

On your first chart, there was a breakout above the price action of around 4 Dec. If you were to go long the second day after your "close above" notation, with your stop below the low from that breakout day, I would not have a problem with it. But on the surface, there are plenty of questions about going long the day (the 17th) and place you show.

I would like to see a wickdoll appear at the BOx area before going long there. Especially since the peak reached on the 16th looks a lot like a wickdoll on a higher time frame (suggesting a longer term short). Then, there is the problem of the breakout to the down side on the 17th. Let's look at the hourly chart for this:
Image

Prior to reaching the level where you're talking about going long, there was a breakout below the low of the 15th. In fact, at about the level you show, there is a wickdoll forming where the hourly bars are unable to close above the lows of the 15th. So if you have enough space to trade from a safe position, this is actually a better place to go short (though the 125 area would have been better). The large wick coincides with the FOMC rate announcement. This sort of thing is why you want your position outside the intraday trading range.


On your second chart, there has been a downside breakout and a wickdoll has been forming. I see no reason you shouldn't be able to form a strategy for a short trade as long as this pattern holds.

Somewhere in this thread, MO posted a chart showing the relative strength of different patterns. A simple breakout was shown to be fairly weak, while a breakout followed by a wickdoll was much stronger. That is the difference between these two charts.


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Re: The ideas that I trade by:

Postby seedling » Wed Dec 24, 2014 7:53 pm

Sorry I got lost in trying to adjust my charts so I could blank out what happened after...Edit I think I am even responding to your first pic again lol... Exam stress :oops:

The movement is down, look at this post viewtopic.php?f=39&t=2462&p=78076&hilit=Break+even+is+not+a+target.#p78076

I would have been looking to short, price was closing lower than something, maybe I am oversimplifying... Unless looking for a bounce up to pink daily slope.. there was no strong support there so it seemed more like nothing than something.

But again that's just my view and I am no guru.

Though I would advise getting an idea of basic movements, i.e correction/continuation...
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Re: The ideas that I trade by:

Postby Jalarupa » Wed Dec 24, 2014 9:02 pm

Long time since I posted anything...

Image


GU Long off the Cone Low looking to accumulate into the new year... last time the GU and Euro were this over sold it was the start of 2012 (if I'm not mistaken)

Image


Entry was textbook Zline into H1 MOMO - accumulation was into 1st 50% pullback

Looking to zero H4 BO traders... and then reposition, or hold for the H4 Cones above and then reposition...
Feed my will to feel this moment urging me to cross the line!
Reaching out to embrace the random!
Reaching out to embrace whatever may come!

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Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 25, 2014 12:22 am

...maybe I am oversimplifying... -Seedling


Trading can be rough, but if you take the time to jot down ideas that you trade by then it will
make your trades a lot smoother.

Here are my main ideas:

Click down the periods from MN to your lowest chart; the worst thing that you can do is fail
to see something obvious on a larger chart.

Be passionate about trading from large chart extremes.
Your stop should make sense from a short term perspective and you should also be able to click
to a higher chart and think 'yes, I would realistically place/move my stop here IF i were trading this chart alone'

Recognize when you are gambling against the direction of profit & look for the large chart to conform.
At a minimum, you need a large chart breakout lower, close above something on a small chart, & the large chart
to appear as if it is going to close above the BO point.
It is far stronger for there to first be a higher low, on a large chart, & then a BO of the higher low, close above something
on a small chart, & for the large chart to appear as if it is going to close above the BO point of the higher low.

Notice the idea here:
We are trading small charts with a minimum requirement of a 2+ day extreme.
Our first priority is to gain space using our small chart but we are also watching the large chart develop to see
if it 'settles' into a picture that is advantageous for us & if so we continue our trades with the large chart idea fixed
in our mind.

Trading space is not the same as SL + TP trading, you can risk as little as 0.0168%/pip and still make 1000% per year by
accumulating size and resetting your size/space after reaching a %goal such as 58.5%.

Always think of your losses in term of 'big pips' (lets define a 'big pip' as a pip value that is 2/3 maximum size):
If your max size is 50u and you initiate a trade at 1u & lose 30 pips then we see that your loss in big pips is...
0.6667 * 50 = 33.3
(1/33.3)*30 = 0.9
...only 9/10 of a pip!
Once the ball of accumulation gets rolling then there is no way that you can lose; you are losing 1 big pip when you
fail & are gaining hundreds of big pips, on a large chart, when you succeed!
Your risk/reward ratio is so high that it boggles the mind.

Ask first, demand second:
It is good form to place a limit order before placing a market order.
Placing a market order is like breaking glass and pulling a fire alarm, don't overreact every time you place a trade.

What is 'something'?:
While 'something' is 'anything' it is generally a BO where a body closed lower than the extreme.
It can also be a series of candles, originating from an area of congestion, that form a steep trend; within the series
is a price wave (think 1-2-3) with the last bit breaking out and closing over a pivot & that is why we usually draw our
'somethings' around the midpoint of a momentum candle.

S/D, triangles, channels, forks, etc:
I can sum up how I use them in one word, "confluence".

You don't really need confluence, it is more of an "&" reason to do something that you already want to do.
"I want to buy these shoes..."&" they are half off"
Last edited by MightyOne on Thu Dec 25, 2014 7:57 am, edited 1 time in total.

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Re: The ideas that I trade by:

Postby prochargedmopar » Thu Dec 25, 2014 12:55 am

Ask first, demand second:
It is good form to place a limit order before placing a market order.
Placing a market order is like breaking glass and pulling a fire alarm, don't overreact every time you place a trade. M.O.

A rare few ask in the manner written above.........

What action should I take/what can I do right now? M.O. (paraphrased)

This has been burning in my brain the last few days.

Why wait when I can see what is happening and which way price is moving NOW?
Why take a guess at what price might do when I can see what it IS doing?
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Re: The ideas that I trade by:

Postby aliassmith » Thu Dec 25, 2014 1:12 am

MightyOne wrote:
...maybe I am oversimplifying... -Seedling


Trading can be rough, but if you take the time to jot down ideas that you trade by then it will
make your trades a lot smoother.

Here are my main ideas:

Click down the periods from MN to your lowest chart; the worst thing that you can do is fail
to see something obvious on a larger chart.

Be passionate about trading from large chart extremes.
Your stop should make sense from a short term perspective and you should also be able to click
to a higher chart and think 'yes, I would realistically place/move my stop here IF i were trading this chart alone'

Recognize when you are gambling against the direction of profit & look for the large chart to conform.
At a minimum, you need a large chart breakout lower, close above something on a small chart, & the large chart
to appear as if it is going to close above the BO point.
It is far stronger for there to first be a higher low, on a large chart, & then a BO of the higher low, close above something
on a small chart, & for the large chart to appear as if it is going to close above the BO point of the higher low.

Notice the idea here:
We are trading small charts with a minimum requirement of a 2+ day extreme.
Our first priority is to gain space using our small chart but we are also watching the large chart develop to see
if it 'settles' into a picture that is advantageous for us & if so we continue our trades with the large chart idea fixed
in our mind.

Trading space is not the same as SL + TP trading, you can risk as little as 0.000168%/pip and still make 1000% per year by
accumulating size and resetting your size/space after reaching a %goal such as 58.5%.

Always think of your losses in term of 'big pips' (lets define a 'big pip' as a pip value that is 2/3 maximum size):
If your max size is 50u and you initiate a trade at 1u & lose 30 pips then we see that your loss in big pips is...
0.6667 * 50 = 33.3
(1/33.3)*30 = 0.9
...only 9/10 of a pip!
Once the ball of accumulation gets rolling then there is no way that you can lose; you are losing 1 big pip when you
fail & are gaining hundreds of big pips, on a large chart, when you succeed!
Your risk/reward ratio is so high that it boggles the mind.

Ask first, demand second:
It is good form to place a limit order before placing a market order.
Placing a market order is like breaking glass and pulling a fire alarm, don't overreact every time you place a trade.

What is 'something'?:
While 'something' is 'anything' it is generally a BO where a body closed lower than the extreme.
It can also be a series of candles, originating from an area of congestion, that form a steep trend; within the series
is a price wave (think 1-2-3) with the last bit breaking out and closing over a pivot & that is why we usually draw our
'somethings' around the midpoint of a momentum candle.

S/D, triangles, channels, forks, etc:
I can sum up how I use them in one word, "confluence".

You don't really need confluence, it is more of an "&" reason to do something that you already want to do.
"I want to buy these shoes..."&" they are half off"


I'm a bit confused about the .000168%/Pip. If you
have $100,000, isn't that about 17cents a pip?
Trade Your Way as Long as It Makes Money!

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 25, 2014 2:18 am

I'm a bit confused about the .000168%/Pip. If you
have $100,000, isn't that about 17cents a pip? -Alias


Sorry, I meant 0.0168%...
I usually punch it in (account)*0.000168, probably because I am obsessed with clicking zeros.

:lol: Thanks Alias.

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