The ideas that I trade by:

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dojirock
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Re: The ideas that I trade by:

Postby dojirock » Wed Mar 18, 2015 6:36 pm

Hi Mo,

Thank you for this post. Best post on the forum.

doji
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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Distinction
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Re: The ideas that I trade by:

Postby Distinction » Wed Mar 18, 2015 7:19 pm

Hello,

awesome post and the one before helped me alot aswell.
Not sure why i was confused in the first place but the picture helped me look at it clearer.

Regards
Distinction

seacap
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Re: The ideas that I trade by:

Postby seacap » Wed Mar 18, 2015 9:38 pm

Hi guys, and thanks MO for your support.

Crazy times, I imagine some people were building short positions on EU, GU and others for days/weeks and now a giant short squeeze. But I hope you guys made money on this!

MO, I did not try only 1 time. I see too many opportunities and most of them are not good after the fact, and that is sad. I can show a lot of charts, but I would like to know if I am thinking in the right direction?

And back to the last question. The price is within 30 pips of your position, you enter short. So your stop is 30 pips above. Do you set a hard stop loss order or you wait for a close above your position on 15m?
I ask because you may get a spike/strong close above your line and you will lose your 2x of space or more.
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Re: The ideas that I trade by:

Postby MightyOne » Thu Mar 19, 2015 4:27 pm

seacap wrote:Hi guys, and thanks MO for your support.

Crazy times, I imagine some people were building short positions on EU, GU and others for days/weeks and now a giant short squeeze. But I hope you guys made money on this!

MO, I did not try only 1 time. I see too many opportunities and most of them are not good after the fact, and that is sad. I can show a lot of charts, but I would like to know if I am thinking in the right direction?

And back to the last question. The price is within 30 pips of your position, you enter short. So your stop is 30 pips above. Do you set a hard stop loss order or you wait for a close above your position on 15m?
I ask because you may get a spike/strong close above your line and you will lose your 2x of space or more.
EJ.jpg


I do not go short because price is 30 pips from a desired stop loss nor do I always use 30 space irrespective of what I am trading or the charts volatility.

Yes, set a stop at the extreme & if you have any space left then use up the remaining space on another trade before creating a whole new space; space would remain if a portion of it was beyond the stop or if you liquidated after price shrank.

If you risk 1% then your total risk is always equal to or less than 1%.

Relevant information, on a long term chart, is primarily the last 2 candles & the active candle &, to a lesser extent, the low pivot, higher low pivot, & a distant BOx.

If you are short and you see higher lows, higher highs, breakout, close higher on the daily chart thenwhat makes you think that not taking profit on a short trade is a good idea?

You don't need to ask me if the sky is blue, just look up.

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Re: The ideas that I trade by:

Postby Distinction » Sun Mar 22, 2015 5:02 pm

Hello Mo,

i have looked at Charts and tried to use simple ways to read it and apply what you are saying and how i think it makes sense.
I think it is slowly working and i can see it falling into a profitable picture but there is one thing that troubles me.
It is about closing over "something".
"Closing over something" can be the first sign of direction change or it could be just a pullback. Now my first thought would be to look for closes over "something" after a lvl is hit.
However most lvls have a little bounce. So you often times get the close over "something" but it can either work or just come back and break the lvl.

What i am wondering is if you have some insight in how to see if a close over "something" is significant or just a pullback. Something like volume or the look of the candles? Or is it just a numbers game?

Regards
Distinction

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Re: The ideas that I trade by:

Postby MightyOne » Sun Mar 22, 2015 6:15 pm

dis_001.png
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'Body in the direction of profit, wick in the direction of loss'

'Bodies show the way, wicks show not the way'

'Price cannot rise on wicks neither can it fall without closing lower'

An idea can be as small as hours or as large as months; what is the idea behind your trade, what are you trying to do?

'When you know where you are going then you can plan your path'

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Re: The ideas that I trade by:

Postby Jalarupa » Sun Mar 22, 2015 6:41 pm

Devine intervention...

Love the metaphor...

Thanks for caring to share your realization again and again...

"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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Re: The ideas that I trade by:

Postby Jalarupa » Sun Mar 22, 2015 6:49 pm

Distinction wrote:Hello Mo,

i have looked at Charts and tried to use simple ways to read it and apply what you are saying and how i think it makes sense.
I think it is slowly working and i can see it falling into a profitable picture but there is one thing that troubles me.
It is about closing over "something".
"Closing over something" can be the first sign of direction change or it could be just a pullback. Now my first thought would be to look for closes over "something" after a lvl is hit.
However most lvls have a little bounce. So you often times get the close over "something" but it can either work or just come back and break the lvl.

What i am wondering is if you have some insight in how to see if a close over "something" is significant or just a pullback. Something like volume or the look of the candles? Or is it just a numbers game?

Regards
Distinction


This image from the past speaks volumes to this idea...

You define something as best you can... Start on a large time scale and work your way towards the action...
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"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

Distinction
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Re: The ideas that I trade by:

Postby Distinction » Sun Mar 22, 2015 8:28 pm

Hello,

thank you very much for replying MO and you aswell Jalarupa.

Your picture helped, Mo. I like the "idea" behind it. I do understand the concept of "something", however Forex is about making money :) and this is were my problem is. I can analyse it after but not while it happens.
At your picture after the long body close over "something" there were two small candles. A Supply lvl. Now we know that it is a supply lvl. It could have easily gone long aswell from there and it would be just a pullback. It was an amazing short entry but only after it happened.
I mean in this special picture the big Candle to the left of it with the big wick showed bearish power but it seldom shows it this clearly.

I am really sorry i might miss something really simpel but i am not sure how to use "something" when it happens/forms.

Regards
Distinction

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Re: The ideas that I trade by:

Postby MightyOne » Sun Mar 22, 2015 9:21 pm

Distinction wrote:Hello,

thank you very much for replying MO and you aswell Jalarupa.

Your picture helped, Mo. I like the "idea" behind it. I do understand the concept of "something", however Forex is about making money :) and this is were my problem is. I can analyse it after but not while it happens.
At your picture after the long body close over "something" there were two small candles. A Supply lvl. Now we know that it is a supply lvl. It could have easily gone long aswell from there and it would be just a pullback. It was an amazing short entry but only after it happened.
I mean in this special picture the big Candle to the left of it with the big wick showed bearish power but it seldom shows it this clearly.

I am really sorry i might miss something really simpel but i am not sure how to use "something" when it happens/forms.

Regards
Distinction


Nothing makes sense until you understand this thing we call 'space'

A person spends years achieving nothing until they learn to accumulate.

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