The ideas that I trade by:

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Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Thu Jun 09, 2016 3:50 pm

MightyOne wrote: Since we are plotting movement, I first check to see how much movement is available.

The median of a series of ranges is far superior to the average, when it comes to trading, so that is what I use.

In the picture below you can see that there is large and small, no real median range, so I would go back further and select
something that is more in the middle of the ranges.

The box size is then a percentage of the total movement.

Trial and error has led to 5% for H4, 10% for the daily chart, & 20% for the weekly chart.

Can you make the boxes smaller? Yes, but you go from plotting movement to plotting congestion.
You will get plenty of triggers but nothing that you can hold onto with any confidence.

I would continue to plot the chart for 6 to 8 weeks without recalculating, unless volatility forces me to do otherwise.


And for targeting, go for 100% of the Median range for the TF, or of the highest TF that is aligned with your direction? Or, stay classical, no exit until first opposite signal?

Other observation, coming into all but the largest of cones (to pull back X # of P&F boxes) on a smaller tf bar chart, P&F will tell you to hold and trade through the cone in the direction of the last breakout.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jun 09, 2016 4:00 pm

Braathen wrote:...

So im trying to draw the 4H H/L P&F and the H/L +close

On the H/L when i come to a candle like candle A here:

Looking at this candle moving both above and below how would you mark it up MO?
Maybe it is because i have not made my box size 5% of the median range.


You have to continue in the direction that you were previously marking points if it is possible to do so.

If you were marking lower points then check the low to see if you can mark points.
a) If you can then mark points and move to the next candle.
b) if you can't then check the high to see if you can mark a reversal column.
& if you are using HLC:
c) check to see if price closed in an area where you could mark a point for a reversal column, if so then
mark points to that area.


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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jun 09, 2016 4:25 pm

Sacrophage wrote:And for targeting, go for 100% of the Median range for the TF, or of the highest TF that is aligned with your direction? Or, stay classical, no exit until first opposite signal?

Other observation, coming into all but the largest of cones (to pull back X # of P&F boxes) on a smaller tf bar chart, P&F will tell you to hold and trade through the cone in the direction of the last breakout.


If the intraday box size is RANGE/20 then I would expect to see price move to within a range of 12.5 to 26.5 boxes from one extreme or the other.

I will not be using the "first opposite signal" rule, I think that I can do better than that :lol:

I don't have everything figured out for P&F, but I am working as quickly as I can to answer my own questions :wink:
Last edited by MightyOne on Thu Jun 09, 2016 4:44 pm, edited 1 time in total.

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Re: The ideas that I trade by:

Postby MightyOne » Thu Jun 09, 2016 4:39 pm

And now onto the update...

So, just as we could clearly see, it was indeed the second breakout of a cone (more like a flag with price spiraling around it).
Price found resistance at 26 and down we went.

Side note: I purchased a new brand of pen called "InkJoy" by PaperMate & I love everything about this pen.
I think that I payed $2.38 for a pack of 8 that contained the colors red, black, and blue.

[LINK TO PREVIOUS POST]

P&F_ZARJPY_2.jpg
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Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Thu Jun 09, 2016 8:16 pm

MightyOne wrote:And now onto the update...

So, just as we could clearly see, it was indeed the second breakout of a cone (more like a flag with price spiraling around it).
Price found resistance at 26 and down we went.

Side note: I purchased a new brand of pen called "InkJoy" by PaperMate & I love everything about this pen.
I think that I payed $2.38 for a pack of 8 that contained the colors red, black, and blue.

[LINK TO PREVIOUS POST]

P&F_ZARJPY_2.jpg


Shorted at 26 where your pen is, with a 2 box stop? Or short at 23 on the break of the low? Or entry off of candles once the setup is formed?

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Braathen
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Re: The ideas that I trade by:

Postby Braathen » Thu Jun 09, 2016 10:53 pm

MightyOne wrote:
Braathen wrote:...

So im trying to draw the 4H H/L P&F and the H/L +close

On the H/L when i come to a candle like candle A here:

Looking at this candle moving both above and below how would you mark it up MO?
Maybe it is because i have not made my box size 5% of the median range.


You have to continue in the direction that you were previously marking points if it is possible to do so.

If you were marking lower points then check the low to see if you can mark points.
a) If you can then mark points and move to the next candle.
b) if you can't then check the high to see if you can mark a reversal column.
& if you are using HLC:
c) check to see if price closed in an area where you could mark a point for a reversal column, if so then
mark points to that area.


for_braathen.png


Thanks very much for taking the time to explain it! :D
Got it now.
"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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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Fri Jun 10, 2016 12:51 pm

Sacrophage wrote:
Shorted at 26 where your pen is, with a 2 box stop? Or short at 23 on the break of the low? Or entry off of candles once the setup is formed?


Short at 26 with a 2.5 box (3.5 line) stop.

The risk-box is 1.05% over 3.5 lines:
((.0105 / 3.5)accountSize) / lineSpacing = $/pip

You could go short at 23, according to tradition, but that would put you in the crossfire.

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Re: The ideas that I trade by:

Postby MightyOne » Fri Jun 10, 2016 1:35 pm

I can't tell you how many times I recheck and redraw my charts. #-o

P&F_ZARJPY_3.jpg
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Braathen
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Re: The ideas that I trade by:

Postby Braathen » Fri Jun 10, 2016 1:44 pm

MightyOne wrote:I can't tell you how many times I recheck and redraw my charts. #-o


Testing diffrent things? Btw that line in the top left that says median.. if that says 5.972 my box's should be 59 or?

GJ .. left is H/L and right is H/L+close
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"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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Re: The ideas that I trade by:

Postby MightyOne » Fri Jun 10, 2016 2:30 pm

Braathen wrote:
Testing diffrent things? Btw that line in the top left that says median.. if that says 5.972 my box's should be 59 or?

GJ .. left is H/L and right is H/L+close


I'll either miscount the number of spaces or forget to consider the close.

Your range is 597 pips.

H4 chart: 597 * 5% for a box size of 29.8 (lines = 20)

Daily chart: 597 * 10% for a box size of 59.7 (lines = 10)

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