The ideas that I trade by:

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newscalper
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Postby newscalper » Tue Nov 20, 2012 12:11 pm

Keep it up Arkan :) I'm really intersted in what you're showing

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arkan1976
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Postby arkan1976 » Tue Nov 20, 2012 2:17 pm

thanks newscalper, anything I can do will be happy to help.
Cheers.

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Postby newscalper » Tue Nov 20, 2012 3:03 pm

thx x

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bettlebox
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Postby bettlebox » Tue Nov 20, 2012 3:09 pm

Hi Arkan

can i ask why you put your "if/then" line there?

im trying to understand rules all i know at moment is the if/then should be put at a point of support/resistance where price shouldnt got if your trade is good. And no more than 40% of your space, and not too close to your entry? not sure if this correct.Appreciate any comments.

Thanks
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Postby arkan1976 » Tue Nov 20, 2012 3:40 pm

bettlebox wrote:Hi Arkan

can i ask why you put your "if/then" line there?

im trying to understand rules all i know at moment is the if/then should be put at a point of support/resistance where price shouldnt got if your trade is good. And no more than 40% of your space, and not too close to your entry? not sure if this correct.Appreciate any comments.

Thanks


Hello Bettlebox, see, the if/then lines are sup or res.
You know that draw sup/res is a art, heheh. Really if/then are the same for me that dragonlines.
I put the if/then there because there are a Dragonline in 5min.
The grren line is a dragon line D1, then i wait the price reach that area and a reversal signal ( break DL 5min ).

Do you understand the space concept ?
Do you understand fibtool modified ?
If you don´t understand please say me and I make a picture.

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bettlebox
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Postby bettlebox » Tue Nov 20, 2012 4:02 pm

Hi A,

what i think i understand about space

. more lots you have will reduce your space
. less lots you have the bigger the space gained
. you set if/then line and adjust your space, giving enough room for price to move but not too much and not too little.
. If price closes above your if then or 40% retracement then exit. and resize your space.

i could be wrong with above ^^^^

I definitely do not understand fibtool modified .

a picture with be great. :)

Thanks Arkan
BB




arkan1976 wrote:
bettlebox wrote:Hi Arkan

can i ask why you put your "if/then" line there?

im trying to understand rules all i know at moment is the if/then should be put at a point of support/resistance where price shouldnt got if your trade is good. And no more than 40% of your space, and not too close to your entry? not sure if this correct.Appreciate any comments.

Thanks


Hello Bettlebox, see, the if/then lines are sup or res.
You know that draw sup/res is a art, heheh. Really if/then are the same for me that dragonlines.
I put the if/then there because there are a Dragonline in 5min.
The grren line is a dragon line D1, then i wait the price reach that area and a reversal signal ( break DL 5min ).

Do you understand the space concept ?
Do you understand fibtool modified ?
If you don´t understand please say me and I make a picture.
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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newscalper
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Postby newscalper » Tue Nov 20, 2012 4:38 pm

Image

I think BB is right in that if you have the If/Then line also as your entry line, the odds are that are 5 minute candle IS going to close across it, also make the point of using space moot?? Wouldn't the If/Then be placed nearer the 40% mark where that previous high is?

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bettlebox
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Postby bettlebox » Tue Nov 20, 2012 5:11 pm

Hi News i been reading bredins description of space.
Im still confused :D

http://www.insanityindustries.net/wiki/ ... itle=Space

BB
newscalper wrote:Image

I think BB is right in that if you have the If/Then line also as your entry line, the odds are that are 5 minute candle IS going to close across it, also make the point of using space moot?? Wouldn't the If/Then be placed nearer the 40% mark where that previous high is?
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Postby arkan1976 » Tue Nov 20, 2012 5:22 pm

Ok bettle,
you are right , the space and lots are inversely proportional.
then fibtool is a tool for make the space/lots graphically.
Then when you see in the right 04,05,06,08,12,20,00 that are units and not lots.
Example :
your account 1000$
your risk 1 %
your box ( depends TF) 40 pips
then 1% *1000$=10/40 = 0.04 lots

Box Lots
40 pips = 0.04 lots
32 pips = 0.05 lots 4/5*40
26 pips = 0.06 lots 5/6*32
20 pips = 0.08 lots 6/8*26
13 pips = 0.12 lots 8/12*20
8 pips = 0.20 lots 12/20*13

Image

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newscalper
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Postby newscalper » Tue Nov 20, 2012 5:27 pm

Yeah, I've seen Bredin's chart b4.

Arkans position is at 28353, position is where all your space is used up if price hits it. Why he's positioned there in this case is, I believe, purely arbitrary - I can't see a past price point that lines up...does it have to, maybe, maybe not. He's giving enough space for the trade to work. What he's effectively said is that this much space is required (average range or a multiple of??) for this size chart. Either that or has gone roughly double that previous high, in which case that high should be the if/then imo.

But then if the basis for closing is 1 5 min bar against immediately after entry, what's the point of space....in this instance, that is.

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