The ideas that I trade by:

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Jalarupa
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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.

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prochargedmopar
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Re: The ideas that I trade by:

Postby prochargedmopar » Wed May 11, 2016 4:54 am

MightyOne wrote:
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.


This statement pretty much sums up trading.

Simple.
#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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MightyOne
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IDEAS WORTH TRADING

Postby MightyOne » Wed May 11, 2016 4:25 pm

You have heard it said that "trading is placing and trailing stops on a larger chart".

I do not concern myself with entries, if the risk is acceptable then the trade is "good".

STEP 1: what is the direction of profit?
Notice that the direction of profit, the blue lines, is slow to change because it is a bias.

STEP 2: where would you place your stop loss on a larger chart?
These are the horizontal lines that you are trading away from.

STEP 3a: attach a line to the stop and enter a trade within it on a smaller chart (10 or 15 minute charts are personal favorites).
If you are trading USDCAD for 20's then 1 line is 20 pips.

Ask yourself how badly you want in this trade. If your maximum stop is 3 lines then you can chase price up to three lines...like a dog that is chained up in a yard.
Yes, you could mark a lower red x, but you want to think about whether or not you would do so if you were already short.
We must also consider where we are within the daily/weekly ranges when chasing price.

STEP 3b: on an M10 chart you will just be looking for that chart to move in the direction of profit, if it has not already done so, before entering within so many lines of the red x.

USDCADH4.png
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Wed May 11, 2016 4:44 pm

Had a chance to look over your charts:

for_thepark.png
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Wed May 11, 2016 4:50 pm

Updated AUDCAD chart.

LINK to previous charts HERE

AUDCADH1.png
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MightyOne
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IDEAS WORTH TRADING

Postby MightyOne » Wed May 11, 2016 5:26 pm

No matter where you look you will find a cone...

area_chart.png
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Re: The ideas that I trade by:

Postby MightyOne » Thu May 12, 2016 2:29 pm

The 101 wingding makes for a great midpoint marker.


USDCADDaily.png
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu May 12, 2016 2:57 pm

This chart starts where the other chart left off.

Technical analysis is easy, if it is not a breakout then it is a pattern (congestion).

If you can draw a pattern within the space of a dime then you might see a trigger.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Fri May 13, 2016 3:55 pm

x's are not real stops, they are horizontal lines (blue lines are bias); you pick your horizontal lines based on where you would place a stop on a large chart.

USDCADH4.png
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Fri May 13, 2016 4:02 pm

Do you know how many people have shown me a small chart and said "price closed over something, I went long and loss loss loss"?
I ask these people to show me where their stop loss is located on a 4 hour chart and they show me something like the attached.

Then I tell them that there is nothing wrong with their trades, it is the expectation of how far price can move without closing over "something" that they need to adjust.

Price cannot rally on wicks, what part of that do you not understand?
Yes it can go up, no it cannot make a meaningful rally without bodies closing higher.

This is so basic that it was the very first thing that I ever posted.

USDCADH4.png
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