The ideas that I trade by:

[MightyOne]

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"Great Skill" they say

A 'position' is simply a STOP LOSS on a LARGE CHART.

When you place a trade, you are not foretelling the future, you are saying 'I am OK with this stop loss'.

Thus when you 'add' you are also saying 'I am OK with this new stop loss'.

That is all trading is: above/below something & placing/trailing stops!

The greatest skill in the world cannot move the market one pip so focus on getting paid when the market moves one pip.

Overs, 'not overs', extremes, & space; this is all that I use to trade.

If I do my part (accumulation) the market will do its part (handing daddy the money) ^^

Believe in your heart that you are handicapable 'it is possible therefore I can do it'

[Distinction]

First of all MO thank you very much for coming back (for a bit) and helping.

Your last post was actually really helpfull.
However there is 1 question that remains. What if you are not ok with the Stop loss after adding because it now comes out of the Daily extremes?

Your method is really simple and succesful. The only big rule would be to trade from extremes.
Let's say you have a 25 pips stop loss and you are in with 2 lots.
You double it after you are 25 pips in. The problem is your s/l is now under/over the extreme. So any lowtimeframe retracement can get you out of the trade.

25 pips in you lose your big rule and throw out your analyse by moving your stop.

I hope that made a little sense of what i was trying to say.

Regards
Distinction

[MightyOne]

First of all MO thank you very much for coming back (for a bit) and helping.

Your last post was actually really helpfull.
However there is 1 question that remains. What if you are not ok with the Stop loss after adding because it now comes out of the Daily extremes?

Your method is really simple and succesful. The only big rule would be to trade from extremes.
Let's say you have a 25 pips stop loss and you are in with 2 lots.
You double it after you are 25 pips in. The problem is your s/l is now under/over the extreme. So any lowtimeframe retracement can get you out of the trade.

25 pips in you lose your big rule and throw out your analyse by moving your stop.

I hope that made a little sense of what i was trying to say.

Regards
Distinction

Remember that you are liquidating after your 3rd entry (buy, buy, buy, exit) so the descent is temporary;
after liquidating you ''re-position'' your stop back at a long term extreme

The BOx is the 'best worst' place to go short but it works because anything is good temporarily and sufficient
momentum can make even the worst trade shine like gold.

If you are having trouble doubling your position it could be a number of things:
1. your initial space is too small.
2. you entered and the lowest point of your space (0% ret) ->(should add 50% and then double).
3. the chart is in heavy congestion (you might try to re-positionup the chart at a BOx)

Just know that for every problem there is a solution.
You understand the basic idea, the importance of extremes & adding size, so make it yours.

If you believe in yourself and that you are just as capable as anyone else then you will find the guru within you.

Trading is easy when you make it easy & hard when you make it hard; no rules/trying, just believing/doing.

[Distinction]

Thank you for replying.

That was very helpfull. I think i guess my problem lies more with my emotions.
You analyse. You go in. It goes in your direction. Than to go in and risk it again is not easy.

Plus some of my worst decisions were made out of moving my stop to save profit. So this approach, while awesome,
made me think about all the time i lost money by having the stop closer.

Just one thing to clarify.
Your "re-position" does it sometimes takes days or even a week before you can go? Like in the euro were the last BOx trade was 3 days ago (atleast in my amateur eyes ) and now you would wait?


Regards
Distinction

[MightyOne]

Thank you for replying.

That was very helpfull. I think i guess my problem lies more with my emotions.
You analyse. You go in. It goes in your direction. Than to go in and risk it again is not easy.

Plus some of my worst decisions were made out of moving my stop to save profit. So this approach, while awesome,
made me think about all the time i lost money by having the stop closer.

Just one thing to clarify.
Your "re-position" does it sometimes takes days or even a week before you can go? Like in the euro were the last BOx trade was 3 days ago (atleast in my amateur eyes ) and now you would wait?


Regards
Distinction

I don't move my SL to 'save profit', I only care about normalizing risk; if I decide to risk 0.5% then I expect to lose 0.5%, or less, when I lose no matter how large the position is.

You can not control winning and losing, you can only control how much you win and how much you lose; losing through position sizing and winning through accumulation.

Yes, some trades take days, weeks, or even longer, but there is nothing more that I can say save that you are resting with a stop at the extreme of the larger period before that chart takes off. Short term you might trade only with your idea or you may trade against the large chart only to conform later...I don't really think about it, I just do what feels right at the moment based on the large chart with short term revelations mixed in.

Look, the only skill in trading is trusting that, in general, you are doing the right things ( keeping your stop out of the daily action and accumulation size so that you can get paid far above what you risk).

You say that you think about trades where you moved your stop closer to the price action, I say that I doubt that you were actively thinking about position at an extreme but rather placing a stop at x-pips irregardless the long term chart.

Everything that you experience is valid, think about it, learn from it, and adapt to what you see...
...more than anything else, it is my strong belief in myself that pushed me to new heights.

[TygerKrane]

Thanks for that, MightyOne

[Distinction]

Thank you MO.
Great post.

I will ponder on this. I see the way to be successful. Now from seeing to doing.

Regards
Distinction

[seacap]

Even though I understand the idea, I can not make it work for me.
It is nice to find a trend and not get caught in a consolidation with multiple shakeouts..

MO, do you wait for a close above/below your line on a daily to take a loss? Or a close on a lower TF is enough for you?
Also, I remember your 3-rd type of position placement at WDx, do you use it anymore?

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[MightyOne]

Even though I understand the idea, I can not make it work for me.
It is nice to find a trend and not get caught in a consolidation with multiple shakeouts..

MO, do you wait for a close above/below your line on a daily to take a loss? Or a close on a lower TF is enough for you?
Also, I remember your 3-rd type of position placement at WDx, do you use it anymore?

You tried 1 time...are you telling me that you see no opportunities?

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A 'loss' is the destruction of 'space', not a shrinking space.

I will enter/exit according to a small chart (15?) while holding the extremes of a large chart.

Large charts have a slower ticking clock than small charts; short term I can trade in any direction, it really doesn't matter, as long as I re-capture the long term position.

Hope that helps, it is 5 AM and I am heading to bed.

[MightyOne]

If you see price closing above/below 'something' then it is not 'prediction' to say that price will continue in that direction, it is just the current facts.

When people are in a trend that reverses they think 'I had a feeling that it would reverse' &, when it continues, 'I had a feeling that it would continue; they get so caught up in 'prediction' that when they have a string of losses they say 'I have lost my ability to predict'.

You cannot predict, you can only make observations.

Let go of vast charting knowledge and take rest in simplicity, they are both heading in the same direction!

A young man spends his time in books, but an old man has just seen it all before; both claim that they have
knowledge, but the knowledge of one is flawed by lack of experience.


This past week I have been listening to pastor Joseph Prince on the topic of right believing.
In one sermon he talks about how we struggle to produce fruit when we have no power in ourselves to produce anything; all power comes from the vine, we need only rest in the vine and fruit will be produced.

When you struggle to trade take rest knowing that all power to be fruitful comes from the vine!

The more areas in your life where you find rest the greater your fruitfulness

Learn, grow, prosper.