The ideas that I trade by:

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MightyOne
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Postby MightyOne » Fri Dec 02, 2016 6:03 am

...
The lines do represent a % gain/loss, but their spacing is determined by a percentage of the weekly median range; a greater percentage for larger charts.

Why use a greater percentage for larger charts?

The longer that you hold onto a trade the greater the range that price can cover before you exit a trade.
So if, for example, you are trading an hourly chart and you get the idea that the daily chart should continue in a certain direction then you would need to quarter your position size;
If your lines are spaced to 5 pips on the M5 through H1 then H4 is 10p, D1 is 20p, W1 is 40, and MN is 80.
Again, the longer that you hold onto a trade the greater the range that price can cover before you exit a trade; this means that if your trade decisions are based on a larger chart, where each bar that you wait through has a larger range, then you will have to adjust your position size and space accordingly to absorb the greater swings.

There will always be a position size in which an idea succeeds or fails; sometimes the small charts are making perfect V's and it makes sense to trade those charts where as other times the bars are overlapping and/or shooting spikes in unpredictable directions and, in such a situation, it is better to reduce your size and attack the trade from a larger chart where the "nonsense" can be mitigated.

You risk lines and you make lines.

5 lines on an hourly is 5 lines on an H4, after you halve your position size, and 5 lines on the H4 is 5 lines on the daily after halving your size again.
If you have 5 lines on H1 EURUSD then you have 5 lines on GBPUSD, any pair really, and you don't even have to think about exiting one pair and jumping to another or even exiting that second pair and jumping to an H4 chart on a third pair; you can easily divide lines gained across new pairs and periods, the money management becomes a strategy all on its own.

Hopefully this answers your question, but if you have more then don't hesitate to ask.

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TheRumpledOne
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Re: The ideas that I trade by:

Postby TheRumpledOne » Fri Dec 02, 2016 3:36 pm

roctao wrote:
TheRumpledOne wrote:Is there a manual for the EIGHTS indicator?

Can't figure it out.


Here you go TRO

Range and chart period.

Let's say that your total risk for a particular idea is 3 lines of the M5-H1 charts (lines are sized the same on "small charts") & that you ended up banking 2 lines of profit.

With 5 lines to work with, you could:
a) resume with 5 lines on the small charts
b) cut your position size in half to have 5 lines of space on the H4 chart
c) keep cutting your size in half to have 5 lines on the next largest chart
The risk and the profit per line remains the same.

There is nothing complicated about it, you put lines at risk and you take lines of profit.
[/quote]

I needed to ask better questions.

What does each button do?
What do the letters in the button mean?
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 Dec 06, 2016 5:28 pm

TheRumpledOne wrote:
What does each button do?
What do the letters in the button mean?


"C" is comments
"L" turns lines on/off
"P" shows you what your risk-box looks like
"S" saves the current setting of "P"
"R" removes save.

The comments, from top to bottom, are:
1) The spread as a percentage of the distance between lines.
2) The value of each pip
3) The value of each line
4) Your trade size per click of the Buy-Buy-Buy button
5) Your "Risk In Pips"
6) The distance between lines
7) The range of the selected weekly candle
8) The distance between lines as a percentage of the weekly median range
9+) the use of lines gained to trade larger.

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TheRumpledOne
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Re: The ideas that I trade by:

Postby TheRumpledOne » Wed Dec 07, 2016 2:33 pm

MightyOne wrote:
TheRumpledOne wrote:
What does each button do?
What do the letters in the button mean?


"C" is comments
"L" turns lines on/off
"P" shows you what your risk-box looks like
"S" saves the current setting of "P"
"R" removes save.

The comments, from top to bottom, are:
1) The spread as a percentage of the distance between lines.
2) The value of each pip
3) The value of each line
4) Your trade size per click of the Buy-Buy-Buy button
5) Your "Risk In Pips"
6) The distance between lines
7) The range of the selected weekly candle
8) The distance between lines as a percentage of the weekly median range
9+) the use of lines gained to trade larger.



Thanks MO.
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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Mira
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Re: The ideas that I trade by:

Postby Mira » Wed Dec 07, 2016 3:50 pm

Hi MO!
Thanks for the instructions.

I have one question, how do i use the OPM section?
I've set my risk at 2 lines and tried to add some line in the P/L form, now if i have 2 lines in my pocket and i want to cut and double, do i need to switch on a larger chart?



MightyOne wrote:
TheRumpledOne wrote:
What does each button do?
What do the letters in the button mean?


"C" is comments
"L" turns lines on/off
"P" shows you what your risk-box looks like
"S" saves the current setting of "P"
"R" removes save.

The comments, from top to bottom, are:
1) The spread as a percentage of the distance between lines.
2) The value of each pip
3) The value of each line
4) Your trade size per click of the Buy-Buy-Buy button
5) Your "Risk In Pips"
6) The distance between lines
7) The range of the selected weekly candle
8) The distance between lines as a percentage of the weekly median range
9+) the use of lines gained to trade larger.
__________ THE :smt096 IS A LIE__________

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Re: The ideas that I trade by:

Postby MightyOne » Wed Dec 07, 2016 7:35 pm

Mira wrote:Hi MO!
Thanks for the instructions.

I have one question, how do i use the OPM section?
I've set my risk at 2 lines and tried to add some line in the P/L form, now if i have 2 lines in my pocket and i want to cut and double, do i need to switch on a larger chart?



Don't worry about that.

Each line starts at +/- .1%

Simply leave your stop loss where it is until your 3rd entry and then reduce your space by 25% for each additional entry.

1, 2, [3], 4, 5, 6, 8, 10, 13, 17.


If you really want to use the OPM section then right under "AUTO MIDPOINT" is an input called "lineswon".
Entering the total number of lines gained will result in the size that you can trade over "num_lines" (your risk-box).

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Re: The ideas that I trade by:

Postby TheRumpledOne » Wed Dec 07, 2016 7:42 pm

TRO001.png
TRO001.png (38.92 KiB) Viewed 3096 times


Comments are not displaying.
What I am doing wrong? Not doing right?
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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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Wed Dec 07, 2016 8:48 pm

TheRumpledOne wrote:TRO001.png

Comments are not displaying.
What I am doing wrong? Not doing right?


It is a background color in the indicator.

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TheRumpledOne
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Re: The ideas that I trade by:

Postby TheRumpledOne » Thu Dec 08, 2016 1:14 am

TRO001.png
TRO001.png (32.4 KiB) Viewed 3061 times


Why is the input default BLACK if it needs to be another color to see the display? :x
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 08, 2016 6:02 am

TheRumpledOne wrote:TRO001.png

Why is the input default BLACK if it needs to be another color to see the display? :x


The text is the same color as the foreground, so what is the problem? :lol:

NZDUSDH1.png
NZDUSDH1.png (27.68 KiB) Viewed 3038 times
EURNZDH1.png
EURNZDH1.png (31.74 KiB) Viewed 3037 times

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