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 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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jrtrading
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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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MightyOne
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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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Re: The ideas that I trade by:

Postby Braathen » Sun Apr 10, 2016 4:50 pm

It doesn't matter to me what happens next, I either lose your money or continue to take it.

HAHAHAHAHA thats pricless :D My trading day in a nutshell :P
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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Re: The ideas that I trade by:

Postby jrtrading » Sun Apr 10, 2016 5:10 pm

I see, thanks..

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Re: The ideas that I trade by:

Postby MightyOne » Mon Apr 11, 2016 12:05 pm

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Mon Apr 11, 2016 3:26 pm

It doesn't matter what I see, what do you see?

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Mon Apr 11, 2016 4:40 pm

If you have seen it once then you have seen it a dozen times...

makes you kind of sick that you shelled out thousands of dollars to learn to trade doesn't it? :lol:

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Re: The ideas that I trade by:

Postby prochargedmopar » Tue Apr 12, 2016 2:32 pm

MightyOne wrote:If you have seen it once then you have seen it a dozen times...

makes you kind of sick that you shelled out thousands of dollars to learn to trade doesn't it? :lol:

AUDJPYecnM10.png


No,
I'd shell out many thousands more AND go deep into debt if I could actually do it and not just know about it.
#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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