The ideas that I trade by:

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aliassmith
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Re: The ideas that I trade by:

Postby aliassmith » Wed Sep 14, 2022 8:01 am

nonibadsha wrote:Thanks Alias. I appreciate it.
The demons are trying to throw me off.


They are mischievous and distract.
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IgazI
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Re: The ideas that I trade by:

Postby IgazI » Wed Sep 14, 2022 1:02 pm

The idea of "space" is very easy to understand:

If you insert $500 into the EURUSD machine, then that is your "space".

Fractions of "space" are your risk multiples, just as you see with Alias' fibo lines, and we refer to them as 'lines' or 'em-pips' (macro / larger pips).

Adjusting your position size changes the number of lines or blocks that equals whatever you are willing to risk.

Unlike a trader who has $10000 and risks 2% per trade we would instead risk $500 exactly and adjust our position size to grow this tiny seed into a tree; our growth comes from minimizing risk and maximizing reward within the confines of our risk tolerance.

Risk $ to make %, not % to make $ :lol:
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Mark Mark
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Re: The ideas that I trade by:

Postby Mark Mark » Wed Sep 14, 2022 7:43 pm

IgazI wrote:The idea of "space" is very easy to understand:

If you insert $500 into the EURUSD machine, then that is your "space".

Fractions of "space" are your risk multiples, just as you see with Alias' fibo lines, and we refer to them as 'lines' or 'em-pips' (macro / larger pips).

Adjusting your position size changes the number of lines or blocks that equals whatever you are willing to risk.

Unlike a trader who has $10000 and risks 2% per trade we would instead risk $500 exactly and adjust our position size to grow this tiny seed into a tree; our growth comes from minimizing risk and maximizing reward within the confines of our risk tolerance.

Risk $ to make %, not % to make $ :lol:

Thank you. I want to study this
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kiwiarian
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Re: The ideas that I trade by:

Postby kiwiarian » Thu Oct 20, 2022 1:27 am

So is space and eights similar, with space I get you scale up when you are profit but on the existing open trade moving SL so risk is the same. Is eights a measurement scale/tool to decide when you scale up after x amount of pips in profit or scale out if it goes against you? I think I got lost when there was talk about 10 lines, over different charts, 1hr, 4hr and a daily.
---------EDIT------------
Several days later I came across some good explanations about eights in the how to be a monster thread so will be studying those. A bit to study but it looks worth investigating. I will stick to trying space/dragon MM on my small account for now until I reach a sufficient size to incorporate eights.

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