The ideas that I trade by:

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Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Sun Aug 28, 2016 8:32 pm

Is the indi in the weekend batch that TRO sent or still work in progress?

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sun Aug 28, 2016 10:57 pm

Sacrophage wrote:Is the indi in the weekend batch that TRO sent or still work in progress?


I think that it will end up just displaying a color coded "GO LONG"/"GO SHORT" instead of having people interpret numbers...

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MightyOne
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Q&A

Postby MightyOne » Mon Aug 29, 2016 2:34 am

TheRumpledOne asked:
How long are you holding open trades? Days? Weeks? Months?
...

    You do as you always do, trade 5 minute charts with long term potential, only instead of closing out 100% of your trade you close out around 93%.

    You were making $30 per line on the 5 minute chart, you reduced your position size by around 93%, & now you are making $30 per line on the large chart.

    If you reduce by a lesser amount then the continuation chart will be smaller:
    your position size on the M5 might be 0.55 & on the H4 it is 0.31 so you would close out 0.24 to continue your trade on the H4; when you do this, you are sitting with the exact profit (in lines) as you were sitting with on the M5 chart. Likewise, if you reduce from 0.31 to 0.04 you continue on the monthly chart and have the exact profit (in lines) as you had on the H4.

    If I told you that you had 30 pips of profit to trade a monthly chart then you wouldn't know what to do, you can barely measure 30 pips on a monthly chart, but if I told you that you have 5 lines of profit and the lines are spaced large enough so that you can SEE what price moving through 5 lines means in relation to the price ranges of the chart that you are trading then you will have some idea as to what you should do.

    The time that it takes for a larger chart to make the same amount of money is significantly longer, but this need not be a disadvantage as who trades every hour of the day or every day of the month?
    $30 x 5 lines will not pay any bills and $30 x 5 pairs x 5 lines is not much better, but when you increase your position size by a single micro lot (talking about large charts here) then you are making an extra $10 per line on each pair or $40 x 5 x 5. If you keep adding those micros evenly then you will arrive at $100/line x 5 pairs x 5 lines...that is a gain of 25% and that is only month one!

    Keep in mind that these longer trades are funded entirely on short term profits that are as small as a single line made on a 5 minute chart.
    Also consider that these trades:
    1) are working in the background, even while you sleep.
    2) require almost no margin, you can still trade as many small charts as your heart desires!
    3) have a high probability of success (if there was any possibility that you were right about a rise in price then you are probably going to survive long enough to see it through).

    The way I have the EIGHTS indicator set up, you can comfortably surpass +20% of an original amount ($10,000) per line by adding more monthly trades and pressing everything by micro lots.
    When do you exit? I prefer to close it all down by the end of the month and resize because I have a lot of time on my hands to set everything up again in the following month.

    You could just draw a trend-line and see how far the large chart takes you, $2000/line x 36 lines = $72,000
    & the next time around it will be $518,400 (1st time you were trading $10000, 2nd time you are trading $72000)
    There are so many options, TRO, the key is to know your options and pick the ones that are right for you.

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Re: The ideas that I trade by:

Postby courier12 » Mon Aug 29, 2016 3:44 am

TheRumpledOne wrote:midpoints:
1) if the current candle breaks the high of the previous and has an extreme that is at or below the previous midpoint then the
midpoint = (high + previousMidpoint) / 2
2)else midpoint = (high + low) / 2

May I suggest:


midpoints:
1) if the current candle breaks the high of the previous and has an extreme that is at or below the previous midpoint then the
midpoint = (high + previousHigh) / 2
2)else midpoint = (high + low) / 2


Hi TRO / MightyOne,

What if the current candle breaks the high of the previous candle and has an extreme that is not at or below the previous candle midpoint? How would u define the midpoint in that case?
Thank you,

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Re: The ideas that I trade by:

Postby MightyOne » Mon Aug 29, 2016 3:50 am

courier12 wrote:
TheRumpledOne wrote:midpoints:
1) if the current candle breaks the high of the previous and has an extreme that is at or below the previous midpoint then the
midpoint = (high + previousMidpoint) / 2
2)else midpoint = (high + low) / 2

May I suggest:


midpoints:
1) if the current candle breaks the high of the previous and has an extreme that is at or below the previous midpoint then the
midpoint = (high + previousHigh) / 2
2)else midpoint = (high + low) / 2


Hi TRO / MightyOne,

What if the current candle breaks the high of the previous candle and has an extreme that is not at or below the previous candle midpoint? How would u define the midpoint in that case?
Thank you,


It would be the midpoint of the active candle.

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TheRumpledOne
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Re: The ideas that I trade by:

Postby TheRumpledOne » Mon Aug 29, 2016 3:45 pm

MightyOne wrote:
courier12 wrote:
TheRumpledOne wrote:midpoints:
1) if the current candle breaks the high of the previous and has an extreme that is at or below the previous midpoint then the
midpoint = (high + previousMidpoint) / 2
2)else midpoint = (high + low) / 2

May I suggest:


midpoints:
1) if the current candle breaks the high of the previous and has an extreme that is at or below the previous midpoint then the
midpoint = (high + previousHigh) / 2
2)else midpoint = (high + low) / 2


Hi TRO / MightyOne,

What if the current candle breaks the high of the previous candle and has an extreme that is not at or below the previous candle midpoint? How would u define the midpoint in that case?
Thank you,


It would be the midpoint of the active candle.


I use the previous candle's midpoint.
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 courier12 » Mon Aug 29, 2016 3:56 pm

TheRumpledOne wrote:
MightyOne wrote:
courier12 wrote:
Hi TRO / MightyOne,

What if the current candle breaks the high of the previous candle and has an extreme that is not at or below the previous candle midpoint? How would u define the midpoint in that case?
Thank you,


It would be the midpoint of the active candle.


I use the previous candle's midpoint.


Thank you MightyOne and TRO!

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Re: The ideas that I trade by:

Postby Sacrophage » Mon Aug 29, 2016 4:03 pm

Prev midpoint or current midpoint - setting any parameter in stone has a domino effect for all parameters downstream from it - any individual setting is relatively arbitrary if the rest of the parameters are still free. Either midpoint calculation could be better or worse than the other, entirely dependent on the remaining system parameters. Efficacy of any individual parameter must have at least 2 qualifiers - lower and upper bound, but for any reasonable trading purpose, must also include time. Longwinded way of saying MO's definitions should be used for MO's tool(s), and TRO's for his. Mixing them will have unintended consequences.

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MightyOne
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Postby MightyOne » Mon Aug 29, 2016 5:56 pm

Relevant Information:
"anything within the last two bars that has interacted with the active candle"

If the high/low has not been touched then don't use it.
If price didn't trade through a midpoint then don't use it.

Anything within the active bar has, by MO definition, been interacted with.

In the picture below, price recently interacted with the low of the previous bar so that is your focus.
The current midpoint doesn't matter because you are already looking for longs above and shorts that are below
the previous low extreme.
If the midpoint exceeds the low then it becomes more important than the low.
If price leaves the midpoint behind then you can use HOLO or a daily open.

Again, if it is not within the last 2 bars and the active bar has not traded through or interacted with it then don't use it.

EURUSDDaily.png
EURUSDDaily.png (33.58 KiB) Viewed 554 times

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MightyOne
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Postby MightyOne » Mon Aug 29, 2016 6:23 pm

Do you ever look at pictures of outer space and get the feeling that you are being played with :lol:

If you kinda sorta see a face in a cloud of gas, ok, but if it forms a giant picture...

space_or_a_painting.png


Someone was sharing pictures they took of the moon and I had the same double take...
is that a devil peaking out of a hole in the moon? LOL!
In the lower right there is the same accompanying spirit as the spirit marked with a moon in the
above picture; this spirit always has its hand to its face as if it is whispering.

youtube.png


Maybe I have spent one too many years looking for patterns :lol:

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