The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sat Apr 09, 2016 3:58 pm

Goonslinger wrote:
MightyOne wrote:I will not be posting any charts for about another week or two, just fyi.

This week (or two) I have dedicated to memorizing a deck of cards using the "character, action, object" method.

If you have nothing better to do then feel free to suggest some characters actions and objects of your own.


A tool you could use to help with your memorisation is http://ankisrs.net/.

Here's an article that describes its use http://mkaito.github.io/2014/spaced-repetition-learning.html

This is an article that is linked from the previous article which I think is worth a read. https://www.supermemo.com/en/articles/20rules

I guess it does go off on a tangent if you're only interested in memorising the cards, but the info is useful in any case.

Somewhat related to that is a course called Learning How to Learn (https://www.coursera.org/learn/learning-how-to-learn) which you might find interesting.


Thanks Goonslinger!

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Re: The ideas that I trade by:

Postby Goonslinger » Sat Apr 09, 2016 4:09 pm

MO, how do these cones look? All lines are at 15 degrees.

I circled an area on the 5th where there was a reaction from the cone, but price ended up turning around and breaking through. Not sure if there's anything really worthy of note there, just thought it was interesting price reacted there.


Which time frame is best to draw the cones on? You seem to draw them on all time frames, but I'm guessing the higher the time frame the more time you have to draw and then plan how to trade the chart.
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sat Apr 09, 2016 4:14 pm

What is a breakout and what is not a breakout..."momo", "not momo", that is all that you really need to know know.

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Re: The ideas that I trade by:

Postby MightyOne » Sat Apr 09, 2016 4:44 pm

Focus on the important things first:

1) what is a breakout and what is not a breakout?

2) how do I trade it?

3) how do I make my chart look pretty?

Start with one line & if that is all that you require then do not draw another.

As time passes you might draw another line...
you might start with 1 line and a 1-2-3, or 1 line and "this is the bottom of a cone", etc

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Re: The ideas that I trade by:

Postby MightyOne » Sat Apr 09, 2016 5:08 pm

You don't need to explain it, you only need to know how you are going to trade it.

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Re: The ideas that I trade by:

Postby Goonslinger » Sun Apr 10, 2016 8:34 am

MightyOne wrote:Focus on the important things first:

1) what is a breakout and what is not a breakout?

2) how do I trade it?

3) how do I make my chart look pretty?

Start with one line & if that is all that you require then do not draw another.

As time passes you might draw another line...
you might start with 1 line and a 1-2-3, or 1 line and "this is the bottom of a cone", etc

for_goon.png


Thanks MO.

Do the 1 - 3 - 2 relate to the 1-2-3 pattern? Or is it something else?
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Re: The ideas that I trade by:

Postby MightyOne » Sun Apr 10, 2016 12:56 pm

Goonslinger wrote:
Thanks MO.

Do the 1 - 3 - 2 relate to the 1-2-3 pattern? Or is it something else?


It is a 1-2-3 pattern: #1 is the highest high, #3 is a lower high, & #2 separates the breakout from the pattern.

I know that it is strange, but you'll get used to it.

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Re: The ideas that I trade by:

Postby jrtrading » Sun Apr 10, 2016 1:24 pm

Hi, MightyOne

Here I am with yet a new question, hope it is OK.

Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking.
-MightyOne


I can see that precision entries are not that important using space, if the ability to see whether price is strong or weak is there. At the same time I would think that the ability to pin-point an entry should pay off with either a higher reward-to-risk ratio through smaller space, or being able to say "I am wrong" after a smaller amount of loss.

Would you say that precision entries are not that important, but precision exits are?

Edit: The reason I am asking is that I am torn between trying to get very small spaces / tight stops, and not taking advantage of precision entries when I can see them. I think that precision would give me "an edge".

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Re: The ideas that I trade by:

Postby aliassmith » Sun Apr 10, 2016 3:50 pm

MightyOne wrote:Focus on the important things first:

1) what is a breakout and what is not a breakout?

2) how do I trade it?

3) how do I make my chart look pretty?

Start with one line & if that is all that you require then do not draw another.

As time passes you might draw another line...
you might start with 1 line and a 1-2-3, or 1 line and "this is the bottom of a cone", etc

for_goon.png


Right there boys and girls. This pic is gold. look at the red and green lines showing bias.
Trade Your Way as Long as It Makes Money!

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Re: The ideas that I trade by:

Postby MightyOne » Sun Apr 10, 2016 4:21 pm

jrtrading wrote:Hi, MightyOne

Here I am with yet a new question, hope it is OK.

Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking.
-MightyOne


I can see that precision entries are not that important using space, if the ability to see whether price is strong or weak is there, in context with HTF order clusters. At the same time I would think that the ability to pin-point an entry should pay off with either a higher reward-to-risk ratio through smaller space, or being able to say "I am wrong" after a smaller amount of loss.

Would you say that precision entries are not that important, but precision exits are?

Edit: The reason I am asking is that I am torn between trying to get very small spaces / tight stops, and not taking advantage of precision entries when I can see them. I think that precision would give me "an edge".


If you understood space then you would know that your edge is money, not pips.

Let's say that I wager $1000 per flip of the coin and I get up $1000. If I reduce my bet to $100 then I am up 10 units and after billions of flips I should be up 9 units. I don't have an edge but, because I manipulated the space of the bet, I not only get to keep the money but there is also no mathematical reason why I cannot win +$24,000 over the next 4 months; over the short-term, your lifetime, anything can happen.
What if every $1000, after reducing my bet to $100, I increased my bet by $100? You might curse the day you ever flipped that coin if I get lucky :lol:
It doesn't matter to me what happens next, I either lose your money or continue to take it.

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