The ideas that I trade by:

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

Karma
rank: 50+ posts
rank: 50+ posts
Posts: 145
Joined: Sat Jun 04, 2011 11:59 am
Reputation: 0
Location: South Florida
Gender: Male

Postby Karma » Wed Nov 21, 2012 2:37 am

This will probably come off over simplified

but rather than going down lots, I prefer to use an initial lot size (very minimal) and focus on expanding gradually

some of these levels are unnecessary and redundant but I keep them all in focus in case I miss one or think it doesn't look favorable

Image


I would really love some input from MightyOne

I'm not sure I'm entirely in a position to be teaching just yet
Attachments
Spaaaace (11-08-2012).xls
SPAAAAAAACE spreadsheet
(11 KiB) Downloaded 75 times

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Postby dojirock » Wed Nov 21, 2012 5:15 am

Karma,

Can you explain what im supposed to do from here, if this was the situation?

Am i using the spread sheet right?
Attachments
spaceexdoji.png
spaceexdoji.png (106.15 KiB) Viewed 1070 times
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

User avatar
newscalper
rank: 1000+ posts
rank: 1000+ posts
Posts: 1068
Joined: Tue Oct 19, 2010 5:58 pm
Reputation: 0
Gender: Female

Postby newscalper » Wed Nov 21, 2012 9:20 am

arkan1976 wrote:
dojirock wrote:so if i only want or need a 20 pips stop then i slide the fib tool up to increase my lots and reduce space? But my entry would remain the same place regardless.

The space box acts as a sliding rule kind of?


Yes !


Yes

User avatar
newscalper
rank: 1000+ posts
rank: 1000+ posts
Posts: 1068
Joined: Tue Oct 19, 2010 5:58 pm
Reputation: 0
Gender: Female

Postby newscalper » Wed Nov 21, 2012 9:33 am

arkan1976 wrote:Sorry news but no....
I imagine you want to buy, then the fibtool is the same that your box.

You only must to put your entry in function your if/then.
See the pictures, there are differents space/lots in the same point.
You see , if your position (00 - xxxx - 04) is more near the if/then, then is more riskly ...


Image
Image
Image


Yeah, I can see it how you're drawn it too.
The way I've drawn it is as follows:


You have MOMO, it can then either break out the top or retrace.
If you take the breakout you're taking it at the worst price (04), if you take it on a retrace you get it at a better price, that's exactly how I've drawn my fibs. Total risk % is spread across the fibs. 00 is positioned at a longer term pointy place whereas you're placing yours below the near term S/D level.? I've just used the Insanity indicator to work out my lotsize for my dollar amount between position and my entry point.

AFAIK your entry shouldn't be slap bang where the IF/THEN is. The entire point of using space is to give the trade wiggle room. If the wiggle room is that small you may as well just use a hard stop?

MO asked me a question:
Position - Yes understand, long term pointy place where buyers or sellers took hold.
Lot size - a function of risk, position and price obtained.
but there's a LOT more to it and it feeds into expansion
i.e. You start with a pipcushion, you then build a pin-cushion, once pin-cushion equals pip cushion you can take the pipcushion off the table (reduce risk quickly, to quote), then as you gain more space you can increase lots (first reduce risk then increase risk, to quote), then once you have maxed out your leverage you sit and wait. Price either booms to the moon and you profit handsomely or it booms in the opposite direction and you have to start all over again.

Expansion - the one I have trouble with, you've still got to be right on direction more times than not

MO also says when the market ranges it's an ideal time to up the lot size - I can see that as you have a definite target to exit, so you keep taking profit and injecting it until you're at maximum leverage. You then enter again and just wait for the range to break: downside is you never know when the market will trend so sometimes you will still be in 'accumulation mode' (you're not at max leverage yet so will be cutting at previous highs/lows and again waiting fro price to come back for a re-entry) and the market takes off when you're out of it - but there's the re-trace to come I guess.

User avatar
newscalper
rank: 1000+ posts
rank: 1000+ posts
Posts: 1068
Joined: Tue Oct 19, 2010 5:58 pm
Reputation: 0
Gender: Female

Postby newscalper » Wed Nov 21, 2012 9:49 am

In the UK, for retail, most of us don't use accounts that even use lots, we use SB accounts where everything is taken on a pound/pip basis, and that value is going to change per currency where it's in lots or pound/pip (Kreslik won't allow the pound symbol it throws a server error)

I've got a very simple spreadsheet that puts the initial pip cushion in % terms of the account (dollar risk for the Insanity indy), the insanity indy will work everything else out w.r.t which currency you're trading, otherwise you'll going to have to get into data feeds into spreadsheets to do it .

You then just log what happens going in columns going downwards each trade showing pounds won or lost - because that, plus your initial pip cushion (until you decide to take it out), is your space.

If what Arkan shows is what it is then I don't need to use the fibs at all, the Indicator will do it all for me.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

arkan1976
rank: 150+ posts
rank: 150+ posts
Posts: 318
Joined: Thu May 06, 2010 9:57 am
Reputation: 0
Gender: None specified

Postby arkan1976 » Wed Nov 21, 2012 10:39 am

then you understand the fibtools hehehe.
My account is in eur, then i must convert to $ and calculate the lots. I use a excel too :lol:

Well, yesterday finally i lost my box - 1% .
Start again, the same, i hope take a long race....

Image

Karma
rank: 50+ posts
rank: 50+ posts
Posts: 145
Joined: Sat Jun 04, 2011 11:59 am
Reputation: 0
Location: South Florida
Gender: Male

Postby Karma » Wed Nov 21, 2012 1:07 pm

yeah doji, that's essentially how I use it

it looks like you're using about a 12 point stop and you would expand your position at 11 12 and 13. I personally use a large amount of space. You can change the risk % as well

I've made a lot of modifications since that version but it isn't how I'd like it to work yet. I'm sure there's an easier or more intelligent method, I just don't like mt4 so I prefer to just see the math. As well as using blank charts...
"Profit is found in a thinking mind. If you come to this . . . with pen and paper in hand then you will fail to find the beauty that exists within yourself." - MightyOne

Karma
rank: 50+ posts
rank: 50+ posts
Posts: 145
Joined: Sat Jun 04, 2011 11:59 am
Reputation: 0
Location: South Florida
Gender: Male

Postby Karma » Wed Nov 21, 2012 1:10 pm

although with small quantities of space like that it makes me feel like my math is wrong

the idea essentially is that even if you lost all of your space you're only risking like 10% at maximum. if you decrease your lot size as you lose space you would lose that % even slower... But by the time you make those 50 points you've tripled your lot size and could have made like 15 or 20% easy... once again. my math might be off (that's why I use spreadsheets) but I'm hoping you understand
"Profit is found in a thinking mind. If you come to this . . . with pen and paper in hand then you will fail to find the beauty that exists within yourself." - MightyOne

arkan1976
rank: 150+ posts
rank: 150+ posts
Posts: 318
Joined: Thu May 06, 2010 9:57 am
Reputation: 0
Gender: None specified

Postby arkan1976 » Wed Nov 21, 2012 1:16 pm

..
Last edited by arkan1976 on Wed Nov 21, 2012 1:21 pm, edited 1 time in total.

arkan1976
rank: 150+ posts
rank: 150+ posts
Posts: 318
Joined: Thu May 06, 2010 9:57 am
Reputation: 0
Gender: None specified

Postby arkan1976 » Wed Nov 21, 2012 1:17 pm

hello Karma, please, could you show a trade in wich you start lossing 2 times and later you win, for to see how use the space ?
Thanks....

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”