The ideas that I trade by:

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
elkin.fernandez
rank: 50+ posts
rank: 50+ posts
Posts: 141
Joined: Tue Nov 29, 2016 12:51 pm
Reputation: 225
Location: Tradeland
Real name: Simple
Gender: None specified

Re: The ideas that I trade by:

Postby elkin.fernandez » Thu Dec 14, 2017 4:53 pm

1. fib retracement set to 0, 1 through 11, and -1 through -11: these are your lines.


Using what price for 0 - 100%?
My long term bag: Bitcoin, ZCash and Chainlink 8)

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

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 6055
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 560
Gender: Male

Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 14, 2017 5:22 pm

elkin.fernandez wrote:
1. fib retracement set to 0, 1 through 11, and -1 through -11: these are your lines.


Using what price for 0 - 100%?


If the current price is 86.313 and your H1 width is 5.3 pips then you are going to open your fib tool and set the first price to
something like 86.300 and the second price to 86.353.

Once the widths are set you can drag the whole fibo around and center it however you want to; hopefully you are using a platform
that allows you to move it by the horizontal line and not just by the diagonal line at the far left.

For your H4 charts, you are going to set the fibo to your zone eg 86.300 to 86.406 (10.6 pips)

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 6055
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 560
Gender: Male

Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 14, 2017 7:08 pm

This is my 6000th post; I think that it is time to quit :)

A new person is going to mark 8 different price levels on his chart, don't be that person.

Looking at your 240+ chart you are simply looking for a close, an open that is outside of the area of the close, and a wick to touch that price level; it can also be some combination like wick+close, close+close, 2SMA+wick, but never just wicks.

If you are going to use a small chart to trade a large price level then you need to make an adjustment with the M30 chart:

At the bottom of the chart we see a price level that was made by a close and a wick so we look for any bar that is a multiple of 30 minutes to close lower; the daily bar that followed 'w' closed lower so we might draw a line at that close and then look for an M30 bar to close below that before finally fleshing out our zone.
If you look at the lowest close on the daily chart then you can picture a 2 SMA in the middle of the body of the next bar: you might draw your line here, as it is the average of 2 closes that are near to one another, and as price touches the line it becomes a price level below which you are looking for an M30 close.

Where people get frustrated is at the top line because they mistake the mid level for a sell level: you can still look for a higher close and short it but it is not as strong as a real high price.

Price_Levels_TV.png
Price_Levels_TV.png (15.07 KiB) Viewed 4177 times
XAUUSD.png
XAUUSD.png (63.09 KiB) Viewed 4177 times

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 6055
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 560
Gender: Male

Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 14, 2017 8:04 pm

There is nothing magical about triggers.

TRUE: "if price touches the line then I am going to go short"

FALSE: "if the line is touched then price will likely decline"

Before you select a trigger, you want to ask yourself if it is likely that you will see a profit before getting stopped out:
If people are taking the breakout of the #2 point of a 1-2-3 then you want to already be short before the #2; the same
is true regardless of the pattern.

c_triggers.png
c_triggers.png (8.85 KiB) Viewed 4359 times
template_TV.png
template_TV.png (118.87 KiB) Viewed 4359 times

User avatar
elkin.fernandez
rank: 50+ posts
rank: 50+ posts
Posts: 141
Joined: Tue Nov 29, 2016 12:51 pm
Reputation: 225
Location: Tradeland
Real name: Simple
Gender: None specified

Re: The ideas that I trade by:

Postby elkin.fernandez » Thu Dec 14, 2017 10:58 pm

NOOOOOOOOOOOOOOOOOOOOOOOOOOO QUITTTTTTTTTTTTTTTTTTTTTTTT! MOOOOOOOOOOO!! Hahaha

When I get some thousands in trading, I will send you a gift, MO. I´m not kidding. :)
My long term bag: Bitcoin, ZCash and Chainlink 8)

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

User avatar
elkin.fernandez
rank: 50+ posts
rank: 50+ posts
Posts: 141
Joined: Tue Nov 29, 2016 12:51 pm
Reputation: 225
Location: Tradeland
Real name: Simple
Gender: None specified

Re: The ideas that I trade by:

Postby elkin.fernandez » Thu Dec 14, 2017 10:59 pm

You are the man. Many people ask to me how i know what i know. I just answer them: MO. They dont understand me. Hahaha
My long term bag: Bitcoin, ZCash and Chainlink 8)

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 6055
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 560
Gender: Male

Re: The ideas that I trade by:

Postby MightyOne » Thu Dec 14, 2017 11:35 pm

elkin.fernandez wrote:You are the man. Many people ask to me how i know what i know. I just answer them: MO. They dont understand me. Hahaha


There are a few dozen very bright minds here at Kreslik each of which have contributed to what you read above.

Even the people who are not so bright contribute because they ask a question that causes you to think more deeply than you normally would.

User avatar
elkin.fernandez
rank: 50+ posts
rank: 50+ posts
Posts: 141
Joined: Tue Nov 29, 2016 12:51 pm
Reputation: 225
Location: Tradeland
Real name: Simple
Gender: None specified

Re: The ideas that I trade by:

Postby elkin.fernandez » Thu Dec 14, 2017 11:52 pm

Yes, TRO, Dragon, Dchappy, Mira, and all here.

That´s tru MO, everybody here have given me good ideas to develop my trading.

:)
My long term bag: Bitcoin, ZCash and Chainlink 8)

co2t
rank: <50 posts
rank: <50 posts
Posts: 9
Joined: Mon Oct 08, 2012 5:12 am
Reputation: 14
Gender: None specified

Re: The ideas that I trade by:

Postby co2t » Fri Dec 15, 2017 8:11 am

i pick the worst time to start, it's near holiday and MO's thinking to quit, hopefully there are other who willing to pass on their knowledge and continue this thread

MightyOne wrote:...
As soon as your eyes search further than 32 bars you should look up at your 240 chart and if your eyes search further that 32 bars on the 240 then you should change it to a daily chart and so on.


so after we find price level based on 240+ 32bars we determined which risk box is appropriate for the trade on lower timeframe adjustment, like in the first picture you showed me on h1 chart, the risk box to use is 2 line of H4 or 1 line of D1 instead 4 line of H1 to keep the risk at minimum?

how do you reach target?? what is the waypoint now?

MightyOne wrote:Before you select a trigger, you want to ask yourself if it is likely that you will see a profit before getting stopped out:
If people are taking the breakout of the #2 point of a 1-2-3 then you want to already be short before the #2; the same
is true regardless of the pattern.


by see profit do you mean is there enough room for price to move? like you wouldn't go short if the lowest price of the day is just a few pip away and price had just bouncing from there?

"already be short before the #2"
so we go short on #3 as soon there is a body closed over, or price failed to close over?


Thanks, and please don't quit just yet, lol
Attachments
template_TV.jpg
template_TV.jpg (129.53 KiB) Viewed 4315 times

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 6055
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 560
Gender: Male

Re: The ideas that I trade by:

Postby MightyOne » Fri Dec 15, 2017 2:55 pm

co2t wrote:...
so after we find price level based on 240+ 32bars we determined which risk box is appropriate for the trade on lower timeframe adjustment, like in the first picture you showed me on h1 chart, the risk box to use is 2 line of H4 or 1 line of D1 instead 4 line of H1 to keep the risk at minimum?

how do you reach target?? what is the waypoint now?
...


Remember that if your risk-box is $80 then each line is $10 so
1 line = $10 risk
2 lines = $20
4 lines = $40
and so on.

You shouldn't initiate a trade with D1 sized lines if there is not something tradable from the D1 perspective but if you're sized to the H4 width then it is ok to cut your position size in half and continue with D1 sized lines.

1x size: first target is 2 lines and if you get a chance to reenter then your next target is line #3 (initial risk is $20)
1.5x size: first target -1/3 at +2 lines and exit all at 2.5 lines (initial risk is $30)
2x size: first target is -1/2 and +1 line and exit all at 2.5 lines (initial risk is $40)

For 1.5 and 2x your risk is only $10 after the first target is reached.
(the goal here is to increase your size by (11.5/8) twice to bring your line value to $20...then 40, 80, and so on, and then hold for larger moves)

Once your line value increases substantially then you change the 'exit' to 'exit half' and you continue to exit half until you reach MN line widths or decide to liquidate.

Take it one step at a time.

23.png
23.png (3.73 KiB) Viewed 4290 times
short_from.png
short_from.png (5.95 KiB) Viewed 4290 times

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


Return to “TheRumpledOne”