The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Wed May 20, 2015 6:10 am

QUESTIONS? :lol:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Wed May 20, 2015 7:05 am

Question is why you use bigger TF and then trade lower one? What must happen on higher TF to say " great after this, I will trade only short on lower TF (and vice versa)?"


Trading is placing and trailing stops, I only 'trade' large charts.

It does not matter which time frame you choose to place your trade as your stop loss ('postion') will be the same across all periods.

There are three elements that you need to successfully accumulate:

1. position ('stop loss') outside of the short term price action; usually around 2 days.

2. space (the distance from your stop to the current price)

3. size...
what does size have to do with accumulation you say? simple, size converts to space and space converts to size; so long as you have size you can generate more space and so long as you have space you can increase your position size.

There are also 'truths' that cut through you like a sharp sword if you ignore them; the worst of which is to trade against the direction of profit.
Remember: "price cannot rise on wicks, neither can it fall without closing lower"

So what is trading?

1. placing and trailing stops
2. money management / position sizing
3. truths
4. experience / instinct

To make sure that I am answering you question:

1. use long term extremes
2. watch for short term bodies closing in the direction of profit
3. watch for long term candles to conform to the direction of profit if they haven't already done so
4. if you have lots of chart time then play forward countless hours of watching similar price action in your mind's eye
5. accumulate in cycles and reposition your stops back at the extreme.

The sad truth is that we can sort of teach you how to trade but most of trading is learned by doing (and this doesn't change even if you decide to buy my $40,000 courses [-X :) )

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Wed May 20, 2015 7:07 am

Child's play...

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TheRumpledOne
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Re: The ideas that I trade by:

Postby TheRumpledOne » Wed May 20, 2015 2:37 pm

MO:

I actually understand your last 2 posts...

Well done!

BRAVO! =D>
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 » Wed May 20, 2015 4:06 pm

TheRumpledOne wrote:MO:

I actually understand your last 2 posts...

Well done!

BRAVO! =D>


Thanks TRO :D

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Re: The ideas that I trade by:

Postby jrtrading » Wed May 20, 2015 7:37 pm

MO,

I hope this is OK, I have attached an illustration:

Close to the extreme, what short term time frame do you typically use to look for bodies / momo closing over something?
Does the chart I included make sense at all.

Thanks.

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Is this more correct?


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Edit: added two more charts

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prochargedmopar
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Re: The ideas that I trade by:

Postby prochargedmopar » Thu May 21, 2015 7:34 am

TheRumpledOne wrote:MO:

I actually understand your last 2 posts...
Well done!
BRAVO! =D>



Wow,
Can't believe my eyes after all these years.
Sure is good to have you both posting regularly on Kreslik again.

Simplicity meets Philosophy = :smt031
#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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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu May 21, 2015 5:02 pm

MO,

I hope this is OK, I have attached an illustration:

Close to the extreme, what short term time frame do you typically use to look for bodies / momo closing over something?
Does the chart I included make sense at all.

Thanks.


Bodies show the way, but they do not trigger trades; that is your job.

You can say "OK, IF the candle closes below this price THEN I will go short" & while that makes the body the trigger it was your thought that made it so; the body in and of itself is not a trigger.

The basics of initiating a trade:

1. price is near(within 'space') a long term extreme
2. i say "price cannot rise on wicks, neither can it fall without closing lower"
3. define a trigger which initiates a trade within space
4. enter.

TRO would write it something like:

RED RATS:TRADE SHORT, GREEN RATS:TRADE LONG
1. price is within 20 pips (his space) from the daily high
2. when 'this happens' RED RATS trade short (within space...20 pips)
3. short.

The magic is not is the price action, the magic is in YOU!

And I'll leave you with this chart:

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jrtrading
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Re: The ideas that I trade by:

Postby jrtrading » Thu May 21, 2015 5:53 pm

Thanks a lot MO, very much appreciated.
Last edited by jrtrading on Tue Mar 29, 2016 9:57 pm, edited 1 time in total.

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Re: The ideas that I trade by:

Postby Captain Pugwash » Thu May 21, 2015 8:35 pm

yep thanks MO

I am starting to get an inkling of what you are about. (I'm not talking about space here)

reactions around extremes - and how and maybe why you draw your lines where they are. I feel it on the tip of my tongue sort of thing - not the big picture (tho it is) - but the reaction on the extremes of candles on any tf coming off the htf extreme

more wine may help - :smt005 or not
"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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