The ideas that I trade by:

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MightyOne
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Postby MightyOne » Sun Sep 09, 2012 3:46 am

I have learned that the level of complexity in ones trading is a measure of how much one does not understand; simplicity on the other hand shows great understanding.

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xXx
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Postby xXx » Sun Sep 09, 2012 7:50 am

I am really upset.
Perfect limit order and chickened out :(
Then I shorted around 1.0230 and got my ass kicked.
What a stupid ideas I have while trading :(
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On the other hand USDCAD same thing lost +40 pips move

Image

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newscalper
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Postby newscalper » Mon Sep 10, 2012 7:54 am

MightyOne wrote:
newscalper wrote:MO - w.r.t extremes and space, do you also use the open as a reference? I.E say you are going to trade the weekly candle, you position at this weeks low and trade with candle colour? I.E if price is above the open you go long, if price is below the open you go short and position at the appropriate extreme?

Thanks


The only open price I use is the daily candle...
it looks like I am going to have to start a new thread.

Previously, I gave a lesson called 'The Time Travel Entry' and it looked
like this:

Image


Now that is 250 pips of space and probably way outside of your price range so what are you to do?

You could position yourself on long term extremes.

You could use any of those ret prices you see in the pic as
locations for position.

You could use price levels.

You could do anything and everything under the sun as long as it lines up with the fact that you wish you had gone long from good position with low risk and preferably a large lot size.

I hope I've got this right - price is below weekly high extreme, below daily open price is turning down, and looking at the weekly chart in an area where the long term downtrend may continue so looking to position short off the weekly high? Size space accordingly?
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newscalper
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Postby newscalper » Mon Sep 10, 2012 1:10 pm

Well, I got in on a retrace which was good, closed for a profit which was good, then saw price steamroller further down in my direction, which was bad

Neo88
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Postby Neo88 » Mon Sep 10, 2012 2:17 pm

MightyOne wrote:I have learned that the level of complexity in ones trading is a measure of how much one does not understand; simplicity on the other hand shows great understanding.


Very true, since I started applying the idea of combining time and price to see liquidity I no longer use anything but this tool (charts)

Image

The general idea that I will fous on here is defining when I am wrong, But like they say the devil is in the details, like if price break below the first weekly support would you ?

1- Back off your position to the next weekly support

2- Retreat to monthly support and trade short on small chart toward the low of the range

3- Liquidate and trade short while being cautious to any sign of support, <-- I guess this option don't qualify until we reach 1.33 area


Edit: Hi MO just ignore the above I was too much into details and less focused on general ideas I'll rephrase to the folowing

Would you trade short on small chart while holding a long position on long term chart ?

Thanks in advance
A man must believe in himself and his judgment if he expects to make a living at this game. - Jesse Livermore

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Neo88
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Postby Neo88 » Thu Sep 13, 2012 11:29 am

MO can you post some IF/THEN lines on EURUSD chart; when you have time

I appreciate it
A man must believe in himself and his judgment if he expects to make a living at this game. - Jesse Livermore

Karma
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Postby Karma » Thu Sep 13, 2012 2:57 pm

Neo88 wrote:MO can you post some IF/THEN lines on EURUSD chart; when you have time

I appreciate it


Isn't that cheating?

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MightyOne
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Postby MightyOne » Thu Sep 13, 2012 2:59 pm

Before we talk IF/THEN lets talk about what comes first:

Body in the direction of profit: the true meaning:

Image


If a body in the direction of profit is sale then a wick in the direction
of loss is a ...
Last edited by MightyOne on Thu Sep 13, 2012 3:02 pm, edited 1 time in total.

paweldobkowski
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Postby paweldobkowski » Thu Sep 13, 2012 3:00 pm

Karma wrote:
Neo88 wrote:MO can you post some IF/THEN lines on EURUSD chart; when you have time

I appreciate it


Isn't that cheating?



ye, its like quiting smoking with nicotine gums

totally cheating

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MightyOne
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Postby MightyOne » Thu Sep 13, 2012 3:20 pm

Some recent PA:

Image

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