The ideas that I trade by:

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thepark
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Re: The ideas that I trade by:

Postby thepark » Thu Apr 23, 2015 5:02 pm

MightyOne wrote:
thepark wrote:
MightyOne wrote:I'll try to get around to the other questions later...

This is by far my favorite setup as it works so well so often ^^
(probably because it is a type of 1-2-3)



Thanks MO. I noticed in the last chart, the candles dont need to appear consecutively for the setup to work, but I presume they must occur within a reasonable timeframe (within 5 candles)?


CADJPYWeekly.png


I hope that this chart doesn't confuse you.

Down-arrows mark the 'at or better' areas where I would try to rest my stops for a short & up arrows are for the longs.

The first idea is the BOx trade and it is a pretty weak idea, given the area but I take what I can get. Looking at the short term there may be no indication to short so I take a short term long into the break-in for 'space'.

Most break-ins (BI) are tradable short, so long as the body of the BI is small, so I attempt a short there.

Now nothing would make me happier than to rain short orders as price goes barreling into the low pivot of the last price leg but there has been no 'real' close lower and this line ~94 has continuously been rejected. Again, looking at the small chart for an indication that price is indeed starting upward I go long (first up arrow) towards the lower high line; notice also that this candle breaks any previous attempt to draw an uptrend so it is itself part of a larger pattern higher low breakout failure.

Price breaks the lower high (LH) line, which is getting pretty old, so I look to the small chart to decide if I should push through it (price is not slowing down) or reverse. I reverse and go short but it is clear that I am running out of short ideas while long ideas are piling up.

By this time I have hit my %goal twice and am starting a new 'space' with 3 more cycles to complete.

I tell you all of this that you might see that sometimes I don't know where I am going as far as direction but I know where I am going as far as reaching a %goal.

I trade a chart but I am not 'trading' a chart; my focus is simply on accumulating lots until a %gain is realized...
...and that is why I say that nothing makes sense without space; you trade north for 500 pips but where are you
going (what is your goal), what have you accomplished without accumulation (nothing!)?

So many traders are pip rich and money poor & these are the same traders that say that they will 'practice accumulation later'.

CADJPYWeekly.png


Hi MO, thanks for these pearls of wisdom. I wanted to share a bit about myself after lurking and learning here for so long. I have been trading since 2010 learning what I can from your threads. The bits and pieces I have picked up have helped me a lot. I was able to make 100% gains over a little more than over a year which was a big step for me, but its still not enough for me to change my lifestyle and Im willing to do anything to get there. I'd like to ask some questions about your chart above and hope you can critique my trading principles in the paragraph after next.

1) So in the weekly chart above, you have not decided on a direction and are just throwing orders out in the market to see if you can gain some space?
2) What is the BOx trade? and the break-in trade?
3) starting from the first down arrow, price has failed to go up so you are shorting in these areas?
4) the first up arrow is like the "third candle" of a larger double failure where price tried to break lower but actually close higher than the last candle, hence long?
5) Reversing short, is this due to the setup of a larger "double failure" in play? If you start counting behind just 3 candles there can be many double failure setups. For example, the three candles from the first up arrow to the second up arrow, that is also a double failure?

And if you can please critique my trading principles

Time frame:
I mostly look at the daily and H4 time frames and will jump on a "H4 trend"

Entering a trade and accumulating
I will mostly look for body in the direction of profit/momo and a pullback to the ZL region on H4 to initiate a trade. Once there is momentum back into the direction of profit on H4 I will enter and risk 2 to 5% with a hard stop. when it goes in my favor, the next time I accumulate would be after the next cycle of body in the direction of profit, pullback and regain in momentum. The most I've been able to add was 3x my position and this is a real big trend like the recent short from 1.17 to 1.13 or 1.13 to 1.07 for eurusd. I will usually add lots like this, 2 lots, 4 lots, 6 lots, 8 lots (have only made it to 6 before)

Exiting
I will usually shed some lots after a huge candle, or anticipation of a pullback, but since my position is so far back anyway I find myself not wanting to shed because I havent made enough money yet. Whether I've decided to shed some lots after a big move or keep all my lots I will let my profit lose 40percent space before i consider shedding my lot size and I will try to keep eternals. If am super desperate I will accumulate lots super close to the current price and lock in my profit above break even so in the event that it does keep going without hitting my stop, I will be able to make more money.

How do I position myself better? How do I accumulate more effectively and aggressively?

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Re: The ideas that I trade by:

Postby Captain Pugwash » Thu Apr 23, 2015 6:59 pm

so looking more at the philosophy behind your words

In a congestion area (which i have found is the best place to add to my space)

you (might) trade from lower high (or better) to higher low?

you (might) trade from higher low (or better) to lower high?
(somewhere to aim for - is what I mean - but, not set in stone)

you have a feel for speed of price - i.e. you see price heading for an extreme - and rather than price barreling through the extreme, giving us a real break - we get congestion - maybe a even a break - but....... we feel a reversal on the cards. You sort of feel it before hand? (I'm probably making no sense :) as usual)



I can well imagine this is all fractional.

I admit to be still fathoming out some of what you said - thanks again for giving us your time
"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 TygerKrane » Sun Apr 26, 2015 4:48 pm

Hey MO, don't want to muck up your thread with my foolishness, so here:

https://www.kreslik.com/forums/post80179#p80179

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Re: The ideas that I trade by:

Postby TygerKrane » Sun Apr 26, 2015 10:04 pm

In light of the last two pages of convo between the Cap'n, the MO, and thepark, this collection of MightyOne posts started making a lot more sense to me. Perhaps you might find it helpful to give it a second look as well:
https://www.kreslik.com/forums/post78791#p78791

(Honorable mention to rahimseven :D )

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Re: The ideas that I trade by:

Postby MightyOne » Mon Apr 27, 2015 8:34 am

Captain Pugwash wrote:so looking more at the philosophy behind your words

In a congestion area (which i have found is the best place to add to my space)

you (might) trade from lower high (or better) to higher low?

you (might) trade from higher low (or better) to lower high?
(somewhere to aim for - is what I mean - but, not set in stone)

you have a feel for speed of price - i.e. you see price heading for an extreme - and rather than price barreling through the extreme, giving us a real break - we get congestion - maybe a even a break - but....... we feel a reversal on the cards. You sort of feel it before hand? (I'm probably making no sense :) as usual)



I can well imagine this is all fractional.

I admit to be still fathoming out some of what you said - thanks again for giving us your time


None of that matters...
...this does:
1. Position
2. Lot Size
3. Conformity (so that you can go somewhere with size)

There is a breakout, price closes lower, so I am trading from a high extreme (wickdoll/break-in)
A 'break-in' is where price pierces the BO price after closing lower.

Price is too far away from the extreme (for my space), price breaks lower, I am going to try and position a
stop at the breakout ('BOx' Trade)or maybe a little higher because the long term candle is still live and it may have retraced
after the BO.

It is not about 'what I sometimes do' or 'what i feel' [-X

It is ALWAYS about POSITION, LOT SIZE, & %gains.
How good is my position? How can I add size? How good is my position...?

The money is in the ideas:
1. price moves hundreds of pips from one extreme or the other
2. if price is closing lower then it is probably not going higher
3. etc
Anything technical is based on the idea (so you already know what you should do without me telling you!)

If you keep the idea simple then the complex parts will fall into place.

I have literally given you over a decade of trading experience in a bite-sized cookie, eat it an make that money :lol:

And we will conclude with a picture :)
Notice that everything you see is based on ideas that you already know:

CADJPYWeekly.png
CADJPYWeekly.png (29.21 KiB) Viewed 657 times

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Re: The ideas that I trade by:

Postby MightyOne » Mon Apr 27, 2015 9:59 am

Time frame:
I mostly look at the daily and H4 time frames and will jump on a "H4 trend"

MO: It really depends on how fast price is moving:
I spend most of my time on a 20-30 minute chart but will drop to 50-150 seconds if the chart wants to be a speed demon.
It goes without saying that I look at the daily/weekly/monthly as there is no trade without a long term position/stop.


Entering a trade and accumulating
I will mostly look for body in the direction of profit/momo and a pullback to the ZL region on H4 to initiate a trade. Once there is momentum back into the direction of profit on H4 I will enter and risk 2 to 5% with a hard stop. when it goes in my favor, the next time I accumulate would be after the next cycle of body in the direction of profit, pullback and regain in momentum. The most I've been able to add was 3x my position and this is a real big trend like the recent short from 1.17 to 1.13 or 1.13 to 1.07 for eurusd. I will usually add lots like this, 2 lots, 4 lots, 6 lots, 8 lots (have only made it to 6 before)

MO: start with a multiple of 2, then add 2, and add 2...or start with 2, add 1, then add 3. Now immediately look to exit at a profit and re-position your stop at the extreme. Repeat the sequence starting with 6 units.
You do not need price to move before you add size, you just need to be comfortable with the new stop location (from normalizing your risk).


Exiting
I will usually shed some lots after a huge candle, or anticipation of a pullback, but since my position is so far back anyway I find myself not wanting to shed because I havent made enough money yet. Whether I've decided to shed some lots after a big move or keep all my lots I will let my profit lose 40percent space before i consider shedding my lot size and I will try to keep eternals. If am super desperate I will accumulate lots super close to the current price and lock in my profit above break even so in the event that it does keep going without hitting my stop, I will be able to make more money.

How do I position myself better? How do I accumulate more effectively and aggressively?

MO: Do not worry about 'shedding' lots at this time, focus on the three step accumulation. If price makes a big move (long term move) and you are not awestruck by your return then you are failing to accumulate. If you do find yourself in a situation where the long term chart moved and your size is small then just take the space and move on.

'Eternals' (orders that you 'never' close) are only used on charts that you rarely trade because they are targeting monthly trends (usually a thousand or more pips). If you build the size to a maximum of about 1/4 of your leverage & if these long shots hit :lol: then you can make as much as 50%...not bad for a trade that you forgot about until the 1000 pip price alert went off.

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Re: The ideas that I trade by:

Postby Captain Pugwash » Mon Apr 27, 2015 3:07 pm

MightyOne wrote:
Captain Pugwash wrote:so looking more at the philosophy behind your words

In a congestion area (which i have found is the best place to add to my space)

you (might) trade from lower high (or better) to higher low?

you (might) trade from higher low (or better) to lower high?
(somewhere to aim for - is what I mean - but, not set in stone)

you have a feel for speed of price - i.e. you see price heading for an extreme - and rather than price barreling through the extreme, giving us a real break - we get congestion - maybe a even a break - but....... we feel a reversal on the cards. You sort of feel it before hand? (I'm probably making no sense :) as usual)



I can well imagine this is all fractional.

I admit to be still fathoming out some of what you said - thanks again for giving us your time


None of that matters...
...this does:
1. Position
2. Lot Size
3. Conformity (so that you can go somewhere with size)

There is a breakout, price closes lower, so I am trading from a high extreme (wickdoll/break-in)
A 'break-in' is where price pierces the BO price after closing lower.

Price is too far away from the extreme (for my space), price breaks lower, I am going to try and position a
stop at the breakout ('BOx' Trade)or maybe a little higher because the long term candle is still live and it may have retraced
after the BO.

It is not about 'what I sometimes do' or 'what i feel' [-X

It is ALWAYS about POSITION, LOT SIZE, & %gains.
How good is my position? How can I add size? How good is my position...?

The money is in the ideas:
1. price moves hundreds of pips from one extreme or the other
2. if price is closing lower then it is probably not going higher
3. etc
Anything technical is based on the idea (so you already know what you should do without me telling you!)

If you keep the idea simple then the complex parts will fall into place.

I have literally given you over a decade of trading experience in a bite-sized cookie, eat it an make that money :lol:

And we will conclude with a picture :)
Notice that everything you see is based on ideas that you already know:

CADJPYWeekly.png


Thanks MO ... and sorry to keep asking whats to you "the bleedin obvious :) " But, I do believe you are helping more than just me - I hope! :)

I want to go through the last few posts again and have a good think before asking anything else.

I have simply been sticking a pending order on a break in - with predictable results :oops: Maybe I have been at it wrong - using pending orders to try to predict the break in extreme rather than let it form - then use a pending order (pendings are mainly all i use because of work btw)


(after all I dont know just how far price will push through on a break in - if at all!)-
"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 TheRumpledOne » Mon Apr 27, 2015 3:59 pm

MightyOne wrote:I'll try to get around to the other questions later...

CADJPYDaily.png


This is by far my favorite setup as it works so well so often ^^
(probably because it is a type of 1-2-3)


Please define FAKE CANDLE.

Thanks, MO.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Re: The ideas that I trade by:

Postby MightyOne » Mon Apr 27, 2015 5:02 pm

TheRumpledOne wrote:
MightyOne wrote:I'll try to get around to the other questions later...

CADJPYDaily.png


This is by far my favorite setup as it works so well so often ^^
(probably because it is a type of 1-2-3)


Please define FAKE CANDLE.

Thanks, MO.


Fake Candle: a candle that I drew with my hands :P

Illusion: the active candle

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Re: The ideas that I trade by:

Postby MightyOne » Mon Apr 27, 2015 6:13 pm

...I have simply been sticking a pending order on a break in - with predictable results :oops: Maybe I have been at it wrong - using pending orders to try to predict the break in extreme rather than let it form - then use a pending order (pendings are mainly all i use because of work btw)


(after all I dont know just how far price will push through on a break in - if at all!)-



The long term is for placing/trailing stops, the short term is for accumulating size and space prior to the long term move.

Work/Sleep trading seems to be an epidemic around here :shock:
Trading Forex is like having a baby, you have to be ready to wake up at any time the price alert cries.

Focus on one cycle a day:
If you only have time to add once then add once and look for an exit.
If you can add twice then get the 3rd order in and look for the exit.

Write down your space, size, & pip value and then go to work or sleep: 53 & 6 @ $1.20.
What if you move to a chart where the pip value is 80 cents? (1.2 / .8 ) * 53, your new space is 79.5 & 6 @ $.80...
and back to $1.20: (.8 / 1.2) * 79.5 = 53. Gives you some ideas for situations where you have lost space doesn't it :idea:

Try to attack the same chart if you can but if it moves without you then it moves with out you.
Eventually (my favorite word...next to 'something') you are going to catch the long term chart making a move and you will be in the market with size (& that is what is important).

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