The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jul 14, 2016 3:20 pm

salezyakuku wrote:400 is possible 8). I share below what I changed.
Space had sublevel value so I * num_lines and normalize it from:

Code: Select all

 "Space = " , sublevels/10 , "\n" ,

to:

Code: Select all

"Space = " , NormalizeDouble(sublevels/10*num_lines,0) , "\n" ,

I also add LotSize calculation:


Thanks Salezy :smt023

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Postby MightyOne » Fri Jul 15, 2016 3:17 pm

"Intelligence is the ability to make finer distinctions"



EURUSDM5.png
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EURUSDWeekly.png
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MightyOne
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Postby MightyOne » Fri Jul 15, 2016 3:31 pm

How do you trade patterns? With horizontal lines (think P&F).

:shock: I have the wrong version of Eights loaded on this chart...I should delete the other copies :lol:


CHFJPYH1.png
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Jalarupa
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Re: The ideas that I trade by:

Postby Jalarupa » Fri Jul 15, 2016 3:34 pm

those charts fill me with such joy!

Thanks MO! Been going over your chats for the last week and... It's art, pain and simple...

Thanks for posting...

And let one person spoil this moment by being an *censored - swear word* and I will hunt you down and end you!
"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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Re: The ideas that I trade by:

Postby v8power » Sat Jul 16, 2016 4:48 am

:mrgreen:

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Re:

Postby v8power » Sat Jul 16, 2016 5:27 am

MightyOne wrote: "Intelligence is the ability to make finer distinctions"



EURUSDM5.pngEURUSDWeekly.png
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v8power
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Re:

Postby v8power » Sat Jul 16, 2016 5:46 am

MightyOne wrote:How do you trade patterns? With horizontal lines (think P&F).

:shock: I have the wrong version of Eights loaded on this chart...I should delete the other copies :lol:


CHFJPYH1.png


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chfjpy-w1-oanda-division1.png
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chfjpy-mn1-oanda-division1.png
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Re: The ideas that I trade by:

Postby MightyOne » Sat Jul 16, 2016 5:01 pm

A "risk-box" is the total amount of "space" that you are risking &/or the only prices that are tradable.
Think of a risk-box as a curtain hanging from a stop-loss; if you know how to place a stop then you know how to select a trade.

"Space", the distance between lines, is the number of pips that equals a specific dollar value & it is also a gauge for correct position sizing.

It is helpful to think of each line as a pip with a value that is a constant.
If you want to jump from USDZAR to EURUSD you can either pull out your calculator, and lose time,
or know that you have 5 lines of space because 5 lines on the USDZAR is the same as 5 lines on the EURUSD.

Space is visual money management, the better you can see the better you can manage.

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Re: The ideas that I trade by:

Postby TheRumpledOne » Sat Jul 16, 2016 6:01 pm

Is the lowest part of the risk box where you entered?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Re: The ideas that I trade by:

Postby Jalarupa » Sat Jul 16, 2016 6:23 pm

Hey TRO - You would enter anywhere inside the box...

FX Synergy makes this REALLY easy...

SynergyEUM5Box Trade.PNG
SynergyEUM5Box Trade.PNG (56.07 KiB) Viewed 258 times

The RED LINE is the SL painted by the trade panel by selecting the SL key on the panel... The Boxes just show that over time price moves into a box... or striking range... ;)

I set my Risk % on the EightsV4 indicator and then I do the same on FX Synergy in the trading panel in the top right...
MO is currently using a hard stop of 3.5 Lines... That is his Space / Risk-Box

FX Synergy makes it even easier by calculating the lot size relative to the stop loss and the trades chosen risk % at current price... So when price is inside the BOX you just hit a market order to sell and the software calculates the exact lot size required for the trade...

So if you are doing well in terms of stop placement like MO is emphasizing and you are comfortable with the risk then you can gear a position that is within your striking range to something higher than your risk box... whilst keeping risk relative...

MO is just applying this indicator to a money management strategy that helps him to quickly calculate lot size on the fly...

I on the other hand am FREAKING LAZY... and have a tool (a very sexy tool at that) that does all of the heavy lifting for me... The Eights indi helps me to place my stop within 3.5 Lines where I'm thinking is a good place to buy or sell...
"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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