The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jan 28, 2016 6:29 am

prochargedmopar wrote:
There has to be a way to use history to predict future.
We all do the same damn thing every day.

A bunch of going nowhere but it does still break out @times.. Cones/channels make no sense.


The short answer to your chart is...yes, yes I can :lol:

Can I know 90% of the time based on a single chart? The answer is no.
If I check 2 or 3 charts then I can plot my course with a high degree of accuracy.

Cones/Channels make more sense to people who have experience drawing channels, forks, triangles, & 1-2-3's.
I have had one person PM me multiple charts that I could not correct because they looked as if I drew them myself.
It must make sense somehow! :wink:

You do not need to predict the future, GO TRO, trade what you see.

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Goonslinger
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Re: The ideas that I trade by:

Postby Goonslinger » Thu Jan 28, 2016 9:24 am

MightyOne wrote: The short answer to your chart is...yes, yes I can :lol:

Can I know 90% of the time based on a single chart? The answer is no.
If I check 2 or 3 charts then I can plot my course with a high degree of accuracy.

Cones/Channels make more sense to people who have experience drawing channels, forks, triangles, & 1-2-3's.
I have had one person PM me multiple charts that I could not correct because they looked as if I drew them myself.
It must make sense somehow! :wink:

You do not need to predict the future, GO TRO, trade what you see.


Would you have been entering/exiting longs and shorts based on the cones on the 15m chart or would you have waited for a close in a particular direction on the hourly before making a decision? It seems that price is ranging and that it would therefore be best to scalp for space. Though I could easily see myself holding out in one direction in the hopes that there's a breakout.

I attached 1h and 4h charts to provide some context.
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usdchf 4h.PNG
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usdchf 1h.PNG
usdchf 1h.PNG (66.35 KiB) Viewed 1805 times
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aldomcfaldo
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Re: The ideas that I trade by:

Postby aldomcfaldo » Thu Jan 28, 2016 11:34 am

MightyOne wrote:
Postby aldomcfaldo » Mon Jan 25, 2016 9:48 pm

I'm also reading your posts MO, planning how to manage the job, the kids and trading time. Really appreciate you sharing your ideas.

It can be done in 4 to 6 hours per day.
I see that you left out your wife, that's a big time saver right there :wink:


Hah! There will be more time and money for her once trading becomes the income provider :wink:

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Re: The ideas that I trade by:

Postby MightyOne » Thu Jan 28, 2016 8:06 pm

Goonslinger wrote:
Would you have been entering/exiting longs and shorts based on the cones on the 15m chart or would you have waited for a close in a particular direction on the hourly before making a decision? It seems that price is ranging and that it would therefore be best to scalp for space. Though I could easily see myself holding out in one direction in the hopes that there's a breakout.

I attached 1h and 4h charts to provide some context.


Trade in both directions doing something like this:
1) "enter, double, exit"
2) "enter, exit"
3) "double on entry, exit"
For your last double, position your stop loss on an H4 or daily
and take trades in only one direction.

A "risk box" works like this:
1) Select a stop location (1, 2, 3, or 4).
2) attach your risk box to a stop location
3) enter WITHIN your risk box, even at the stop itself,
using a smaller chart (your entry is the bottom of the R.B.)

for_goon.png
for_goon.png (4.62 KiB) Viewed 1738 times


Your stop loss needn't be for the sum of your space but, for the purpose
of accumulation, the sum of your space is always in play.

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Re: The ideas that I trade by:

Postby MightyOne » Mon Feb 01, 2016 9:32 am

Had to fix a few things.
I am sure that you are already aware that it is a giant loop, you just move the decimal over.
If you reset your space on white then target white & if you reset your space on purple then target purple.

If you have no idea what "space" is then disregard this post:

Ideas_2_72.png
Ideas_2_72.png (26.06 KiB) Viewed 1224 times


Converting Space:
(What $min should be / What $min is)space = space
(.367 / .40)41 = 37.6 space
(.367 / .30)41 = 50.1 space

Regression after Gain:
(% to waypoint / set pip target)waypoint = $/pip
(.21153 / 72)1000 = 2.937
(.1108 / 48)1000 = 2.308
(.0404 / 48)1000 = 0.841
(.0200 / 48)1000 = 0.416
Last edited by MightyOne on Fri Feb 05, 2016 6:47 pm, edited 1 time in total.

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Re: The ideas that I trade by:

Postby MightyOne » Thu Feb 04, 2016 5:30 pm

My current "overbought"/"oversold" levels:

GBPUSDecnM15.png
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Re: The ideas that I trade by:

Postby MightyOne » Fri Feb 05, 2016 5:11 pm

GBPUSDecnM15.png
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Re: The ideas that I trade by:

Postby MightyOne » Fri Feb 05, 2016 6:56 pm

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Goonslinger
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Re: The ideas that I trade by:

Postby Goonslinger » Sat Feb 06, 2016 1:13 pm

MightyOne wrote:
GU6216.PNG
GU6216.PNG (93.2 KiB) Viewed 772 times


Would you have drilled down to the 5 min (or lower) to catch that move or did you have a limit order ready? I was watching at the time and it was a news driven move and as a result decided to watch instead of trade though i did catch a move earlier.



MightyOne wrote:
GU6216.PNG
GU6216.PNG (93.2 KiB) Viewed 772 times

Is that cumulative total of P$Ps at $max until +0, +00, etc.?

I was also wondering how many currencies/instruments you trade? Do you have a specific amount or do you scan through different charts until you see something you like?

EDIT: the quotes aren't working properly. I'm referring to the two previous posts you made.
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Re: The ideas that I trade by:

Postby MightyOne » Sat Feb 06, 2016 5:34 pm

Goonslinger wrote:
Would you have drilled down to the 5 min (or lower) to catch that move or did you have a limit order ready? I was watching at the time and it was a news driven move and as a result decided to watch instead of trade though i did catch a move earlier.

Is that cumulative total of P$Ps at $max until +0, +00, etc.?

EDIT: the quotes aren't working properly. I'm referring to the two previous posts you made.


If a small chart is moving sideways then I move to a larger period.
You want to trade smaller charts when they are making long up & down "mini trends".

M10 or M15 is perfect for me as my smallest chart.

I only use limit and stop-limit orders.

Below you can see that it takes 72 pips to reach the first waypoint at P$P size ($max).
If you do not resize, based on the next waypoint, then the next target is 87.23 pips away
or a total move of 159.23 pips.
It is just meant to show you what size of a move it would take to clear multiple targets in
one go.

multi_target.png
multi_target.png (8.67 KiB) Viewed 732 times


I was also wondering how many currencies/instruments you trade? Do you have a specific amount or do you scan through different charts until you see something you like?


That is a difficult question to answer.
Let's say that there is one currency where you believe strongly in the daily chart but are given little movement to accumulate.
You might trade another (or even two) more active pair, make the necessary adjustments, & then stack the space onto the less active pair so
that you can continue to pump it up.
There might even be a number of micro gambles out there working their way across the galaxy. :lol:
...my answer is: up to 3 actively traded pairs.

As far as selection I start with currencies that I am intimately familiar with.
Next I go through the monthly/weekly charts and set alerts (turn off expiration) as if they were limit orders;
if there is a monthly body in the direction of profit and price retraces 130 pips to the breakin then I might
want to know about it :D

Stop location comes first, then accumulation & %'s.

The positions on actively traded charts are not held over the weekend.

Excuse the chaos, I threw this post together while doing other things. #-o

GBPUSDecnM15.png
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