The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sun Dec 06, 2015 6:23 pm

Updated and checked for errors.

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MightyOne
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A GOOD START

Postby MightyOne » Mon Dec 07, 2015 2:16 am

I have already covered this, but let's go over it again so that we can all start 2016 running.

If you do not start with pips beyond the extreme then your first double is going to be a nightmare.

The strategy for the first double is to start with pips beyond the extreme, enter WITHIN space to add
even more pips above the extreme, & then double your size cutting your space to the high extreme.

Also note that it is easier to escape with pips if something goes wrong prior to your first double.

Now take profit! It is too early to be thinking about holding, we are accumulating to 8x size
(3 successful doubles) before we even think about holding.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Mon Dec 07, 2015 4:05 am

For double number 2 you might employ "the catch".

All that you do is double down when price retraces at least 50% from your last take profit to your prev. stop loss.

Beautiful when it works, heartbreaking when price proceeds without you.

Secure 6 pips, instead of entering on the dashed line, and you can take a short-term trade at $minimum size
if you are stopped out.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Mon Dec 07, 2015 4:39 am

And, of course, "re-positioning" is simply re-entering with the lot size of the previous trade
in the same way that you did it the first time; space above the extreme, etc.

Is there anything else to say...
If your $min is .30 it is 1 unit but it is also 3 units if things go south.
It is definitely not ideal to divide your $min, but do what you have to.

With every loss, of 40 pips, your target moves 5 P%PS further into deep space (I'm sure that you already figured that out).

There is nothing else to say, you know everything that I do.

jrtrading
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Re: The ideas that I trade by:

Postby jrtrading » Mon Dec 07, 2015 7:43 am

Just wanted to say thanks for the latest posts, they are golden.

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Re: The ideas that I trade by:

Postby MightyOne » Mon Dec 07, 2015 4:53 pm

jrtrading wrote:Just wanted to say thanks for the latest posts, they are golden.


Thanks jr, may the bones roll in your favor :wink:

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Re: The ideas that I trade by:

Postby MightyOne » Tue Dec 08, 2015 5:38 pm

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Re: The ideas that I trade by:

Postby MightyOne » Wed Dec 09, 2015 4:17 pm

The low targets were pulled upwards, the high targets stay put...that is just how the indi works.

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seacap
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Re: The ideas that I trade by:

Postby seacap » Wed Dec 09, 2015 5:54 pm

Just my 2 cents..
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Wed Dec 09, 2015 7:42 pm

There are two parts, listen carefully:

1) trade from a long term extreme
2) in the direction of profit

What is the "direction of profit"?:

IF you can trail a stop, on a large chart, then you can trade...

Now please, I pray you, tell me how you trailed your stop from the highs of the long term chart:

You took a chance, you used a smaller chart, I get it...

I just wish that you would get it :wink:

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