The ideas that I trade by:

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Braathen
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Re: The ideas that I trade by:

Postby Braathen » Thu Jun 16, 2016 9:03 am

MightyOne wrote: Leafing through the charts in Ted Warren's book, HOW TO MAKE THE STOCK MARKET MAKE MONEY FOR YOU, I noticed that all of the charts are simply high/low bars inside of a grid.
While I was listening to a man on YT, about the differences between the different styles of charting, he made an interesting comment; he said that the difference between a candle chart and a bar chart is that of emphasis, a candle focuses your attn. to the change within a bar where as the bar has you focus on the change between bars.

He is probably right, I don't really give a dmn about small chart closes as I am more focused on the price overlap and pattern breakouts.

Did that 15 minute candle close under a line? I don't really care...I might care if I already want to go short, based on a larger chart, and I defined my trigger as the next close under something, but in and of itself it doesn't mean a whole lot.

The closes matter more on a larger chart where it represents a full swing & gives you a better summary of the small chart price action.

I have decided to make the switch to HL bar charts for small periods and HLC bar charts for multi-hour periods.
I still look at P&F charts but I find myself interpreting them the same way I do every chart (overlap vs breakout) instead of just trading breakouts.

bar_chart.png


Its funny you say this, now ive always loved those dragonbelly candles you? once made, i wanted better view of the closes so i stuck it on bar chart
and instantly felt my focus shift alot more towards "the change between bars".

"The closes matter more on a larger chart where it represents a full swing & gives you a better summary of the small chart price action." :!:

I will continue to draw my 4H H/L+C P&F, its become a bit of a ritual for me and i enjoy it :D

I really like the idea of not watching closes on small charts and just watch them flow through H/L.

Also.. i stole your line!
StoleYourLine.png
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Also.. zooming in on a HT and coning in the moment moves can be very fun :D
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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 Braathen » Thu Jun 16, 2016 9:18 am

MightyOne wrote:I am just going to take a second to talk about why I don't target sextillions.

1) A stop loss DOES NOT GUARANTEE that you will be able to liquidate at that price, therefore your true risk is anywhere from the 6 pips that you are hoping is your max loss to 40, 70, 140, or even hundreds of pips if price decides to gap on you.
"That is so unlikely...". It really isn't, price makes gap moves all the time that are probably larger than your stop loss.

2) 3.73% per day is FOUR ZEROS per year! Do you make 4 zeros per year? Didn't think so.
Why then do people risk 3 or 5% per trade? They might make 30, 70, 140% or more in a day but they still can not do better than someone who is consistently making a few percent per day (because the effort to make larger %'s consumes more time, both in terms of holding and giving profits back).

3) More risk is just more risk, more profit is just more profit.
Risking more does not make you more money, period, end of story.
You might make more on a given day but overall your gains will be slower.

It is better to spread your trades between three pairs, entering your lots in two or three parts and then increasing the size by a third as price continues to move in your favor, than it is to try and make all of your money in one pair.

I am guilty of being foolish, I didn't understand the value of diversification until recently :shock: :)

4) to goals not through goals.
Complete your first goal and then move to the next. Trying to blast through goals is a very good way to delay it from being reached in the first place.

I hope you listen, I don't want you to learn it the hard way like I did.


I risk 1.5% pr. trade.. i could easily go to 1% and it wouldnt be that big a diffrence. I will do that.
My take profit is still 21.153%.. i do not hit this mark everyday lol.. im pretty sure i could hit 3.73% everyday though.

Ive been trading 3 pairs, i like to call what im doing "speed dialing" .. i will have a position on each pair and i will switch my OPM
around to whatever pair i feel is going to move fast.. quickly grab some boxes at a high $pip and dial out waiting to strike again! lol

As always thanks for taking the time to write posts like this!
"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 Sacrophage » Fri Jun 17, 2016 3:05 pm

Nice, Mighty, you sneak, you... little mod to open the curtains.

For algo development I have always looked to game theory and infinite series - never to cause and effect, as conventional wisdom said that relationship wasn't there...
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Re: The ideas that I trade by:

Postby MightyOne » Mon Jun 20, 2016 2:48 pm

Loving the bar charts: H4, M5 (scale fixed), M1.

Imagine a P&F chart and trade the horizontal lines.

The H4 is spaced to 5% of the weekly range and the charts to the right are 2.5%.

Risk is 1.0551% over 3.5 lines and size is continually increased by a third until the decision is made to take profit.

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Re: The ideas that I trade by:

Postby TheRumpledOne » Mon Jun 20, 2016 3:43 pm

MightyOne wrote:Loving the bar charts: H4, M5 (scale fixed), M1.

Imagine a P&F chart and trade the horizontal lines.

The H4 is spaced to 5% of the weekly range and the charts to the right are 2.5%.

Risk is 1.0551% over 3.5 lines and size is continually increased by a third until the decision is made to take profit.

EURUSD_BAR.png


Too funny, MO!!
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Re: The ideas that I trade by:

Postby MightyOne » Mon Jun 20, 2016 4:02 pm

TheRumpledOne wrote:
Too funny, MO!!


It all comes back to horizontal lines doesn't it... :lol:

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Re: The ideas that I trade by:

Postby TheRumpledOne » Mon Jun 20, 2016 9:30 pm

MightyOne wrote:
TheRumpledOne wrote:
Too funny, MO!!


It all comes back to horizontal lines doesn't it... :lol:


Yes due to the binary nature of trading. Up/Down, profit/loss, win/lose, etc...
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Re: The ideas that I trade by:

Postby TheRumpledOne » Mon Jun 20, 2016 9:31 pm

Hey MO:

Did you get my latest email?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Re: The ideas that I trade by:

Postby MightyOne » Tue Jun 21, 2016 1:05 pm

TheRumpledOne wrote:Hey MO:

Did you get my latest email?


TRO wrote:...
What are the reasons you would enter long?

What are the reasons you would enter short?


It is easy to see but difficult to explain, TRO.

Simply be more selective with which horizontal lines you trade; try and get in on a larger
idea rather than trading every possible trigger.

I use a 3.5 line stop loss:

if line #24 is touched then my stop is at 24.5 and I can short 23, 22, or 21.
If line #25 then my stop is 25.5 and I can short 24, 23, or 22.
Price makes a BI to 21, stop at 21.5,...
If price makes a BI to 22+ then stop might go to 25.5.
It is the idea that one simply enters within the space of acceptable risk.

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Re: The ideas that I trade by:

Postby TheRumpledOne » Tue Jun 21, 2016 1:39 pm

What indicator are you using to draw your levels?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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