The ideas that I trade by:

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Mira
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Re: The ideas that I trade by:

Postby Mira » Thu Jan 12, 2017 6:12 pm

prochargedmopar wrote:
MightyOne wrote:RISK = DOLLARS / STOP LOSS.

SPACE = DOLLARS / %R

Risk is comprised of lines, between & the sum of which is 'space', that are at intervals which are based on a percentage of a pairs weekly median range.

Because space is the same for all pairs, say 2% of the median weekly range, every pair moves at the same 'monetary speed'; DOLLARS / %R or dollars per segment of range. Again, it does not matter which currency is strong or which is weak as the median range of each pair is divided into the same number of segments so that each pair has roughly the same profit potential.

You should, from the perspective of a swing trader, be able to look down at the chart and use 2 or 3 lines as your risk without feeling like your stop is too tight.
%R is set to what works for M5 to H1 charts, if you want to use something smaller then you might use (2/3)%R . As a general rule, you cut your position size in half and double the width of the lines to trade the next largest chart(H1-H4-D1-etc); you don't have to concern yourself with how many pips you should risk on a larger chart as you have the same number of lines and you risk them in the same way as the other periods.

If you can think of a line as if it were a pip then you can begin to understand why the lines are widened on larger charts:
if you see 64 lines on the H1, turn to the H4 and see 64 lines, turn to the D1 and see 64 lines, turn to the W1 and see 64 lines, & turn to the MN and see 64 lines then you can say that every chart is visually the same, and thus traded in the same manner, regardless of time frame; there would be no smaller or larger period, just uniformity. The trade results will come at a faster or slower pace, but isn't that the case no matter what; albeit not to the same degree?

PROGRESSIONS/'ADDING'/CREATING NEW POSITIONS:
Let's say that you are adding size using the progression '1 + 1 + 1 + 1 + 1 + 1 + 2 + 2 + 3 + 4 + 5' & that your current position size is 8x your initial size.
You would move to the next largest chart by cutting your current size in half, but you will still be in the same spot in the progression; the only difference is that each 'addition' is 1/2 of what it was before.
The first three entries is the scaling in stage & your stop loss remains unchanged. The additions that follow reduce the risk-space to the 75 RET of the previous stop loss and the entry price, creating an entirely new position.

The risk-space is reduced, but the width of the lines remains the same. Imagine a sheet of lined paper as your total risk, tearing it in half will reduce the total risk-space but it will not change the width of the lines that are printed onto the paper; you can reduce your position size to tape on more paper, but you cannot change the width of the lines without changing periods.


This is good news as my Stops are usually 3 to 5x to i finite greater than my take profit/target.



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Mira
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Re: The ideas that I trade by:

Postby Mira » Thu Jan 12, 2017 11:54 pm

Hi Jala!
:!:
Am I seeing what you told me about GU?

Thanks!
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Re: The ideas that I trade by:

Postby anikazahir » Fri Jan 13, 2017 7:59 am

salezyakuku wrote:EDIT:
Right continuation.
Left another example OO Hago.

gu-eg1279.png

EG hit xx hago but yesterday we had big up candle. I'm feeling lost.

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Re: The ideas that I trade by:

Postby salezyakuku » Fri Jan 13, 2017 9:38 am

anikazahir wrote:EG hit xx hago but yesterday we had big up candle. I'm feeling lost.


Green box is MN HTBL. Daily had "weak close" and fail close lower prev. MN high.
On small chart near London open you can spot "W" on LO Hago D1 or simply price fail to close in lower daily wick. Price go thru prev mid day, Hi hago D1, prev daily high. Where price stops? :lol: .
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Last edited by salezyakuku on Sun Jan 15, 2017 7:03 pm, edited 1 time in total.
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Mira
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Re: The ideas that I trade by:

Postby Mira » Fri Jan 13, 2017 7:06 pm

Mira wrote:IMG_1634.PNG

Hi MO

Today I took this short on GU, now I'm trying to re-enter.
The bad thing is I'm tired to sh*t in my pants every time I'm taking a trade :lol:

I think I need to start learning SPACE.
I found several posts here in The Ideas but I have one question: I saw space required the position to be at the extremes, is this rule still valid?

(Now two questions, sorry :) )

ADDING.

Do we need to "buy buy buy" averaging entries in the same trade or I have no idea what i'm saying?

Really thanks for your help!




Today I tried to place a second entry based on the Fat Cat
but i have been stopped out at the orange box' top :(
Then I have been watching price falling in my direction all day long LOL


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Re: The ideas that I trade by:

Postby Mr. Hyde » Sat Jan 14, 2017 12:03 am

Mira wrote:
Mira wrote:IMG_1634.PNG

Hi MO

Today I took this short on GU, now I'm trying to re-enter.
The bad thing is I'm tired to sh*t in my pants every time I'm taking a trade :lol:

I think I need to start learning SPACE.
I found several posts here in The Ideas but I have one question: I saw space required the position to be at the extremes, is this rule still valid?

(Now two questions, sorry :) )

ADDING.

Do we need to "buy buy buy" averaging entries in the same trade or I have no idea what i'm saying?

Really thanks for your help!




Today I tried to place a second entry based on the Fat Cat
but i have been stopped out at the orange box' top :(
Then I have been watching price falling in my direction all day long LOL


IMG_1646.PNG


I probably would have re entered. Price never closed outside your box. Price can spike to anywhere, but as long as it eventually goes in your direction you should be fine.

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Re: The ideas that I trade by:

Postby jscar » Sat Jan 14, 2017 3:05 am

Today I tried to place a second entry based on the Fat Cat
but i have been stopped out at the orange box' top :(
Then I have been watching price falling in my direction all day long LOL



I think that you don't yet have proof that price is failing to close over something. If you wait for the retest of "something", which I've defined here as the highest close, then you're in better shape. After the retest, the short entry is safer since price failed to close higher.

My 2 cents.

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Mira
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Re: The ideas that I trade by:

Postby Mira » Sat Jan 14, 2017 3:28 pm

Thanks guys!
I didn't pay enough attention to the price action, I have to believe more in the chart.

Still working on it! 8)
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Re: The ideas that I trade by:

Postby MightyOne » Sat Jan 14, 2017 7:50 pm

I just thought that this was interesting:

Do you ever get the feeling like you saw the price action somewhere before? It was probably a fractal pattern triggering your senses.

The problem with fractal patterns is that you have no idea how they are going to manifest.

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Re: The ideas that I trade by:

Postby Jalarupa » Sat Jan 14, 2017 8:36 pm

Chart porn!
:smt065

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