The ideas that I trade by:

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MightyOne
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Postby MightyOne » Thu Oct 18, 2012 2:19 pm

newscalper wrote:All this says to me is that the bigger the retrace the larger the position you can put on for the same % risk. Box is sized on last swing?

The only thing that always puzzles me is that price cannot be 'allowed' to reach your position. Price goes where price goes I don't think you can allow it to do anything or not :)


The box is simply your space at 4 lots; if you want a smaller box then risk less.
The size of the box determines your maximum time frame.

Position moves away from the current price when you reduce your lot size.

If your position is at the weekly low extreme, you reduce your lot size, & then liquidate at the low extreme then you have stopped price from reaching your true position.

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MightyOne
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Postby MightyOne » Thu Oct 18, 2012 2:41 pm

Karma wrote:My trouble lies in time

I understand that I like MO seem to spend a majority of my time in front of the charts

But I've been lost recently in seeing some of the bigger moves I expect not taking place until very late in the day. I usually expect nothing after noon but yesterday we had motion at 6 and 7 o'clock

Beyond faith and preparing for anything... How do you do it?

XD


I use the: 9 day, 90 minute, and 7 minute charts.

I use the pointy places of the 9 day chart for position.

The 90 minute is there so that I do not get 'lost' on the 7 minute chart.

The 7 minute is my entry level chart.

The initial target is 1 long term candle as this is usually enough gained space (after reverting to 4 lot space) to trade the 9 day or 90 minute directly.

It is really just long term positioning while not ignoring what you are seeing on small charts until you have removed risk.

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newscalper
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Postby newscalper » Thu Oct 18, 2012 8:37 pm

I take your rum and raise you a fine cognac.


Cheers

:)

Karma
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Postby Karma » Thu Oct 18, 2012 11:12 pm

I'm not much of a drinker but I will certainly consider a brand suggestion


I have to say though, I am a pirate

Rum is in my blood

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Jalarupa
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Postby Jalarupa » Fri Oct 19, 2012 5:07 am

Karma wrote:It's really not that complicated though, I'll probably use a spreadsheet rather than a fib tool because I despise mt4

Ultimately you look at a long term chart and if price is going up you don't try and disagree

Then essentially position yourself from where it came from... then it legitimately isn't allowed to come back. and even if it does you've usually liquidated enough along the way to rack up some serious pips, so much so that the loss CAN be negligible.

I still haven't got it down pat, but I'm getting there


Or... if you know your stop loss dollar amount, you can do the equations in your head... and if you don't trade too often like me you just keep score of how much you are up or down in profit in your head and compress that into space when the trade is right...
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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newscalper
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Postby newscalper » Fri Oct 19, 2012 9:26 am

Karma wrote:I'm not much of a drinker but I will certainly consider a brand suggestion


I have to say though, I am a pirate

Rum is in my blood

I'm not much of a drinker either, so Martell will do.

It's when you have blood in your rum that you know you have the right blood/alcohol ratio to be a truly great trader.
I should drink more

:lol:

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Postby judokamak » Fri Oct 19, 2012 4:55 pm

MightyOne wrote:
Karma wrote:My trouble lies in time

I understand that I like MO seem to spend a majority of my time in front of the charts

But I've been lost recently in seeing some of the bigger moves I expect not taking place until very late in the day. I usually expect nothing after noon but yesterday we had motion at 6 and 7 o'clock

Beyond faith and preparing for anything... How do you do it?

XD


I use the: 9 day, 90 minute, and 7 minute charts.

I use the pointy places of the 9 day chart for position.

The 90 minute is there so that I do not get 'lost' on the 7 minute chart.

The 7 minute is my entry level chart.

The initial target is 1 long term candle as this is usually enough gained space (after reverting to 4 lot space) to trade the 9 day or 90 minute directly.

It is really just long term positioning while not ignoring what you are seeing on small charts until you have removed risk.



MO, can i ask, is there any particular reason behind your selection of TF? Any link to average range perhaps?

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MightyOne
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Postby MightyOne » Sat Oct 20, 2012 5:49 am

Average range is actually horrible as a target; the number is either too small or way too large.

My targets are based on the median range of the last three weeks:

Image


Yes I do have my reasons... ;)
but it is Saturday and I'm too tired (mainly from drinking Rum)

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Postby PebbleTrader » Sat Oct 20, 2012 9:09 am

"Unique TF's"

It is similar to a moving average. Not that the value of the moving average "line" has any meaning, but the thing that almost nobody every talks about has everything to do with TIME. I'm not talking about MA cross over or multiple MA's, just in a real simple use of them like Doji is using it for. If you can understand the TIME aspect of it, than you won't need the MA on the chart.

It is the same concept with a unique TF. You are most interested in the TIME aspect of it. How does price behave given an increase in TIME? It is a similar idea as candle combination but with more flexibility.

The downside is that you have 2X as many charts open if using MT4 and you can't see what the majority sees (often times this is not an advantage even though many might think it is).

I prefer fruit smoothies over alcohol, I know sounds wussy, but tastes a lot better IMO and I don't need the buzz.
Life is just a journey

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Postby judokamak » Sat Oct 20, 2012 9:55 am

I suspected that, the reason behind selection of custom tf is to maximise represented momentum in individual candles.

Volatility drasticaly droped this year, so i thought that MO uses some kind of formula linking TF selection to averange daily/weekly range, since average range is connected to volatility.

Perhaps im complicating :)

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