The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Mon Mar 07, 2016 11:43 am

Captain Pugwash wrote:Thanks MO, I feel I have to ask a question now!

That is an Interesting chart as I would only be looking for a place to short

Am I looking at this correctly

If this was and H1 chart you would be looking at both L and S- from a body over and fail to close under breakout for a long and a body over and a wick failing to close back under the previous midpoint?

And for a long I would be looking to be aware of a possibe exit at one of those two higher levels
?

really sorry for being so thick :oops:

I seem to have missed the midpoiint thingy entirely :oops: - or is it just a handly place to draw your line in the same place, consistently?


The only thing that is "correct" is the idea:

Bodies show the way, wicks show not the way; price cannot rise on wicks, neither can it fall without closing lower.

In the short-term price can cross lines like a teenager, but in the long-term price must both pick a direction and choose
not to return to its old ways (re-cross & close).

The midpoint starts off as the open price and is left behind as the ranges expand further and further over time.
If you know which way the market will move then the extreme is the best price to trade from, but if you do not
know then trading from the midpoint is best.

The extreme (in the direction of profit) or previous anything is used when I want to trade in a certain direction but my stop is out of reach (as in the BOx trade).

Maybe if I were short I would hold short but since I am flat I'll try to go long as price rises above the median...
if the impact to your account is small then take more stabs and if it is great then take fewer stabs.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Mon Mar 07, 2016 7:57 pm

Who knows what is going to happen over the short-term?
Price could spike up 32 pips or it could spike down 32 pips, it can have an impact of -32 pips or it can have an impact of -4.

Do you really care about 32 pips gained at small size? :lol:
The time to care about 32 pips is when your position size is LARGE!

In the beginning you simply "scalp" pips with 8 = 1 macros.
As you gain OPM you shrink the boxes to 4 =1, 2 = 1, and finally 1 = 1 & you are making those 32 pips WHEN the pips matter.

You have 5 macros to play with, the same impact as 5 pips on a small chart, that is plenty of space to get the job done.

If you lose a few macros then so what? Do you cry when you lose 2 pips? Of course not!

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v8power
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Re: The ideas that I trade by:

Postby v8power » Mon Mar 07, 2016 8:43 pm

MightyOne wrote:Who knows what is going to happen over the short-term?
Price could spike up 32 pips or it could spike down 32 pips, it can have an impact of -32 pips or it can have an impact of -4.

Do you really care about 32 pips gained at small size? :lol:
The time to care about 32 pips is when your position size is LARGE!

In the beginning you simply "scalp" pips with 8 = 1 macros.
As you gain OPM you shrink the boxes to 4 =1, 2 = 1, and finally 1 = 1 & you are making those 32 pips WHEN the pips matter.

You have 5 macros to play with, the same impact as 5 pips on a small chart, that is plenty of space to get the job done.

If you lose a few macros then so what? Do you cry when you lose 2 pips? Of course not!

EURJPYecnM15.png


I like how you put the boxes on the chart. Reminds me of Renko.

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Re: The ideas that I trade by:

Postby prochargedmopar » Mon Mar 07, 2016 11:01 pm

MightyOne wrote: If you lose a few macros then so what? Do you cry when you lose 2 pips? Of course not!


I have.
;-)
#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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Re: The ideas that I trade by:

Postby MightyOne » Tue Mar 08, 2016 5:12 am

v8power wrote:
I like how you put the boxes on the chart. Reminds me of Renko.


It is basically a 2 box reversal P&F drawn as a 1 box reversal in Renko form.

Instead of each X being a single price, the top of the X is one price and the bottom of the X is another.

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Re: The ideas that I trade by:

Postby MightyOne » Tue Mar 08, 2016 8:04 pm

Do you remember this chart?

Now you know why people like to say that I draw lines after the fact.

15* angles are so magical that it blows the mind...

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v8power
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Re: The ideas that I trade by:

Postby v8power » Tue Mar 08, 2016 8:42 pm

MightyOne wrote:Do you remember this chart?

Now you know why people like to say that I draw lines after the fact.

15* angles are so magical that it blows the mind...

USDCADecnM15.png



Haha, of course this is posted as I am typing out my reply saying how much angles are amazing.

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Re: The ideas that I trade by:

Postby MightyOne » Wed Mar 09, 2016 6:36 am

I have been working on mentally converting decimal numbers to octal.

Figuring out the macros (eights) is easy, moving on to find the octal number can take a bit of memory.

Maybe a future MM template will use octal numbers, but for now I am really only interested in eights.

[512][64][8][8th]

.875 = 07
.750 = 06
.625 = 05
.500 = 04
.375 = 03
.250 = 02
.125 = 01

Convert 1275 decimal to octal.

Divide 1275 by 2 three times:
637.5
318.75
159.375 eights

Write the number of 8ths that = the decimal value: [3] (.375 is 3)

Now how many sixty-fours in 159 eights?
Divide 159 by 2 three times:
79.5
39.75
19.875 sixty-fours

Write the number of 8ths that = the decimal value: [7][3] (.875 is 7)

Frome here it is easy to solve: 19 = 2x8+3 or 23
for octal [2][3][7][3], but lets continue...

Now how many five-hundred & twelves in 19 sixty-fours?

9.5
4.75
2.375 five-hundred and twelves.

Write the number of 8ths that = the decimal value: [3][7][3] and then
add the number of 512: [2][3][7][3], 02373.

0[2*512][3*64][7*8][3/8]

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MightyOne
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More fun with numbers

Postby MightyOne » Wed Mar 09, 2016 8:05 pm

I thought that it might be difficult, but dozens are also pretty easy.

You use the same method as the eights, keep writing the remainder as integers from right to left until you
get the answer.

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MightyOne
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Fun with numbers.

Postby MightyOne » Thu Mar 10, 2016 4:19 am


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