The ideas that I trade by:

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jrtrading
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Re: The ideas that I trade by:

Postby jrtrading » Mon May 09, 2016 10:56 am

MightyOne wrote:..
Prevent a large loss and then focus on large wins.
Take it slow, all that you need is to net a single solid line per day to add a zero by the end of the year.
..


Hi MightyOne,

Does your willingness to take a loss (space implosion) change as you accumulate MACROs?
Do I understand the above correctly in saying that you are more careful with losing space in the beginning,
since your money is a larger part of space, than after some accumulation when space consists of much OPM?

In your experience, with experience, is it common to reach targets (21.12%) without implosions on the way?
Comparing the MACRO approach to doubling, it seems as if MACROs are not as aggressive by default.

I hope this makes sense, if not I apologize.
Thank you.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Mon May 09, 2016 5:58 pm

jrtrading wrote:Hi MightyOne,

Does your willingness to take a loss (space implosion) change as you accumulate MACROs?
Do I understand the above correctly in saying that you are more careful with losing space in the beginning,
since your money is a larger part of space, than after some accumulation when space consists of much OPM?

In your experience, with experience, is it common to reach targets (21.2%) without implosions on the way?
Comparing the MACRO approach to doubling, it seems as if MACROs are not as aggressive by default.

I hope this makes sense, if not I apologize.
Thank you.


You don't really have to think about all of that when you are using macros.

Your goal is to make so many lines and the first step towards that goal is not losing lines.
The second step is narrowing the lines so that they are made more quickly.

If you have just spent half of the day trading and are sitting with 2% then don't get aggressive, but if the market hands you a bag of gold and you still have the whole day ahead of you then pocket 1% and see if you can make it an even better day.

You might have been trading for 16's and, having narrowed to 12's for the second trade, the market suddenly shoots upwards and gives you 9 lines. On your 15 minute chart there might then be a trade, that looks obvious, that you decide to trade for 4's; after a few lines you widen to 6's (partial profits) and then next trade you widen to 8's

As a rule of thumb, you slash your position size in half when you see a tall candle or price breaking above a cone.

Aim for 4% per day, be happy with 2, and don't cry about 1.

.92%/day is +0/year.

Always remember that if it is not a breakout then it is a cone:

AUDCADH1.png
AUDCADH1.png (33.56 KiB) Viewed 520 times

jrtrading
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Re: The ideas that I trade by:

Postby jrtrading » Mon May 09, 2016 7:40 pm

Thanks!

thepark
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Re: The ideas that I trade by:

Postby thepark » Tue May 10, 2016 1:39 pm

MightyOne wrote:
prochargedmopar wrote:
MightyOne wrote:Get better at something


The angled lines are a diversion tactic.

AngledLines.png


People cannot get past the word "something" which is simply a word for "there is no need to define it, it is what it is, price is above or below something"

"Price cannot rise on wicks, neither can it fall without closing lower [than something]"

"Something" is the direction of profit, if you knew something then you would only trade in that direction.

Why did I mark cones? Because I believe that EVERYTHING is a cone!
If that is not what you SEE then don't draw them.

There are many methods that you can use to mark cones or 1-2-3 or anything else & it doesn't matter how you draw them; the only thing that matters is that it is what you see and that you know how you are going to trade it.

As I said before, it is my belief that there are breakouts, from some pattern (everything is a cone), and there are break-ins and there are range expansions.
Analysis, aka "art class", is done on H1+ and entries are based on H1+ using smaller charts.

It is expected that the weekly range will expand to within .625 to 1.375 of the weekly median range.
The daily range is more volatile, once the range expands to about 31.25% of median then you are trading away from that line.

Knowing all of these things you should have the confidence to pick a direction (profit) and hold for an expansion; not because you know the future, but because you know that price will expand the range in one direction or the other.

GBPUSDH4.png



so once the daily range expands to 31.25% of the median daily range of the last three days would it usually expand to 0.625 of daily median range just like weekly?

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Re: The ideas that I trade by:

Postby MightyOne » Tue May 10, 2016 3:03 pm

thepark wrote:

so once the daily range expands to 31.25% of the median daily range of the last three days would it usually expand to 0.625 of daily median range just like weekly?



20% if price decides to go nowhere.
31% on normal days
46%+ if it is an mbar or the filling out of a cone.

Your line doesn't have to be drawn exactly at these numbers, you just know to draw "something" somewhere when these numbers are reached.

An mbar can be nearly as long as the weekly median but our focus is on reliable minimum targets.

I use two different medians:
a) median of last 3 weeks
b) median of remaining ranges, of the last 6 weeks, after the largest and two smallest ranges are crossed off.
"a" is for weekly targets
"b" is for position sizing & daily targets...
...but feel free to use whichever method you like.

AUDCADDaily.png
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Last edited by MightyOne on Tue May 10, 2016 6:39 pm, edited 1 time in total.

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Re: The ideas that I trade by:

Postby MightyOne » Tue May 10, 2016 3:20 pm

Here is an updated picture of the AUDCAD

& here is a LINK to the first chart.

AUDCADH1.png
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thepark
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Re: The ideas that I trade by:

Postby thepark » Tue May 10, 2016 3:45 pm

MightyOne wrote:Here is an updated picture of the AUDCAD

& here is a LINK to the first chart.

AUDCADH1.png

:shock: :shock: one day i will understand cones =D>

got stopped out short gbpusd on the breakout low and usdcad on the breakout high aiming for weekly targets, would u have taken these trades MO? what would you have done differently? thanks

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Re: The ideas that I trade by:

Postby MightyOne » Tue May 10, 2016 4:32 pm

thepark wrote:
MightyOne wrote:Here is an updated picture of the AUDCAD

& here is a LINK to the first chart.

AUDCADH1.png

:shock: :shock: one day i will understand cones =D>

got stopped out short gbpusd on the breakout low and usdcad on the breakout high aiming for weekly targets, would u have taken these trades MO? what would you have done differently? thanks


Getting stopped out does not mean that you made a mistake.

Look at the charts from the top down, form an idea, then trade the idea from the bottom up.
Long-term targets are usually hit with only a fraction of your original size for a few extra lines, but those extra lines add up.

I have an appointment to go to so I can only look at your charts briefly:

USDCADDaily.png
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Last edited by MightyOne on Tue May 10, 2016 6:42 pm, edited 1 time in total.

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Re: The ideas that I trade by:

Postby thepark » Tue May 10, 2016 4:45 pm

MightyOne wrote:
thepark wrote:
MightyOne wrote:Here is an updated picture of the AUDCAD

& here is a LINK to the first chart.

AUDCADH1.png

:shock: :shock: one day i will understand cones =D>

got stopped out short gbpusd on the breakout low and usdcad on the breakout high aiming for weekly targets, would u have taken these trades MO? what would you have done differently? thanks


Getting stopped out does not mean that you made a mistake.

Look at the charts from the top down, form an idea, then trade the idea from the bottom up.
Long term-targets are usually hit with only a fraction of your original size for a few extra lines, but those extra lines add up.

I have an appointment to go to so I can only look at your charts briefly:

USDCADDaily.png


thanks MO, I marked up my chart

Image

USDCAD Simple breakout trade with 3 macro (50 pip SL), strategy is BDP, WDL to weekly target. Should I have just taken a scalp?


Image


Same idea as USDCAD

The sharp candle up to 1.44789 is a Wick on High timeframe so thats why I took that short but also got stopped out.

I am thinking trading after a candle closes over something does not allow me to enter in early. Even if i pick the correct direction I always have a lot of drawdown and in this case, loss. But entering before BDP I am blindly guessing.

In your analysis you used cones, theres a breakout for USDCAD and you would short from the BO back into the cone?

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Re: The ideas that I trade by:

Postby Jalarupa » Wed May 11, 2016 3:03 am

In your analysis you used cones, theres a breakout for USDCAD and you would short from the BO back into the cone?


Look left...

What do you SEE?

ZLines, Mighty Zones, BDP, a HOOK...

Clearly it's a good place to sell...

MO had also showed how price moves in a pattern... We have pierced the top cone in an area where there are lots of sell orders according to simple TA...

So you could and should sell at anytime provided your stop is out of reach... Start small maybe and scale in...? That way you don't lose a full position?

Remember if this Cone Patten is to be believed... We should at least touch the bottom line... And possibly bounce... Then break then BDP... Etc... So there is ample time to scale... It's a H4 chart... So many pips from top to bottom and vice versa...

Sorry I know I'm not MO but the answers to your question are all there for you... You already know them...
Feed my will to feel this moment urging me to cross the line.
Reaching out to embrace the random.
Reaching out to embrace whatever may come.

I trade using <<FX SYNERGY>>

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