The ideas that I trade by:

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MightyOne
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Postby MightyOne » Thu Jan 24, 2013 11:07 am

STEP 1: POSITION
Your only short trade is from the price of 1.3427; where you actually enter a trade is irrelevant.

The fibo is telling you that your lowest price for a short trade is 1.3311.

STEP 2: LOT SIZE
So long as 1.3427 remains untouched, you are committed to increasing your lot size.
You are not trying to be right about direction, you are trying to GET PAID if you are right about direction:

The average trader will short 4 lots (your min size) and make 50 pips(!) or $200.
The Space trader will build a position to 20 lots and make the same 50 pips or $1,000.
(5 times more money ---> that's = 5 winning trades in one shot for the same risk!).
The average trader might hold for 200 pips and make $800.
The Space trader makes greater than $4,000 over the same space.

If both traders are the same person then he will have the same stops/position, the same number of losses/wins, but much different results esp after compounding.

But it gets better:

Lets say that you build your size to 20 lots and liquidate for a loss of most of your space at 1.3400 & 27 space remains.
Your new space looks like this: (20/4) * 27 or 135 pips.
Your total space in the picture was 116, you are +19 pips!

LOTS convert to SPACE
SPACE converts to LOTS

Adding size on a RET, when you are flat, does not harm your position; it simply adds to your potential.

STEP 3: PERCENT GAIN

If your min lot size is $4 then you have a $10,000+ account.
If you made $4000 (20 lots, 200 pips) then you are up ~40%.
Your targets are intervals of 12.5% & at each interval you decide then and there if you are going to hold for more or liquidate (stick to your decision!).

RECAP:

You can do ANYTHING with entries so long as:
1) you have position
2) your size is increasing
3) you are targeting %'s
This is Space Wars.

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nimo350
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Postby nimo350 » Thu Jan 24, 2013 11:38 am

nt
Last edited by nimo350 on Thu Feb 06, 2014 12:28 pm, edited 1 time in total.

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trueblueTEX
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Postby trueblueTEX » Thu Jan 24, 2013 1:04 pm

MightyOne wrote:STEP 1: POSITION
.... where you actually enter a trade is irrelevant.
......


This part has been difficult to get my head around coming from a scalping mentality.

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trueblueTEX
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Postby trueblueTEX » Thu Jan 24, 2013 1:45 pm

MightyOne wrote:So tell me, you future Forex pros, how do you trade this?

Image


Well, not being a pro, this is what I actually did (DEMO!) and it was half-@ssed thinking through about a conglomeration of ideas I've read here ie, not fully synthesized! but I wanted to watch what happens with many different lots.

I shorted way too soon (leftmost down arrow) and then I ramped up the lots thinking to make up for up.
I guess what I did is more like martingaling than space wars. I did not try the fibo tool (still don't quite know how to make the level settings to match yours).

Finally, last night, I put on 8 lots and set a TP for all the trades at the 1.32808 level except for the first trade I made and I set it to just barely into profit then I went to bed.

Looks like my TP just barely got missed by about 4 pips!!

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trueblueTEX
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Postby trueblueTEX » Thu Jan 24, 2013 4:32 pm

Well, I thought it might bounce low off of that upper trend line but I guess the 3 hits "rule" applies. Price has broken it.

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Postby trueblueTEX » Fri Jan 25, 2013 2:01 am

MightyOne wrote:.... intervals of 12.5%....


BAM! Head-slap! Intervals on the fibo! Duh!

Did you stretch the tool out a specific number of pips or are you setting it in the middle of the momo on the left hand side of the chart?

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MightyOne
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Postby MightyOne » Fri Jan 25, 2013 4:55 am

nimo350 wrote:So by adding lots while your risk remaining the same, I assume you're talking about profit taking and investing that profit into the SL space? The more space a trader have, the more lots he can add while his original risk remains the same?

MO is this the general idea?

Is this MO 2013, where bodies doesn't matter anymore? :?


If you want to keep your position, '00', locked at the extreme then you must be flat before you can increase your size on a RET.

If you want to trail your position closer to the current price then you must first be in a trade. In this case, the current price is '##' (the other end of space) & your space is expanding and contracting.

ANY INCREASE IN SIZE, when you are not flat, DROPS YOUR POSITION BY THE RET AMOUNT FROM THE TOP:

If you double your size then 00 is the 50% RET.
If you increase your size by 50% then 00 is the 66% RET (33% from the top).

- You only trail your position lower if you know what you are doing. Many a trader complained to me that their gains were wiped out on a RET after they dropped their position closer to the current price.
- The safe play is to liquidate and reenter on a RET to increase your size.

Space is always sized to your min. unit size.
4 units gains space pip for pip like a basic SL/TP position.
5 units gains 25% more space.
6 units gains 50% more space.
8 units gains 100% more space & so on.

All unit sizes revert to minimum ('Fibo Space') for a Space advantage.
When I short 5 lots I am said to be trading with a 25% Space advantage as reverting to 4 lots after gaining 50 pips leaves me with 62.5 pips or a 12.5p 'advantage'.

Lots convert to Space
Space converts to Lots
The trick is to balance lot size with Space.

TEX:
Intervals of 12.5% are targets for the account and have nothing to do with the sizing your space.

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Postby nimo350 » Fri Jan 25, 2013 6:55 am

nt
Last edited by nimo350 on Thu Feb 06, 2014 12:28 pm, edited 1 time in total.

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MightyOne
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Postby MightyOne » Fri Jan 25, 2013 9:23 am

My fib looks like this:

04 units (##)
05 units
06 units
08 units
12 units
16 units
00 Position

A 'unit' is your account rounded down to the nearest $1.000, $10.000, $100.000, or $1.000.000; micro, mini, standard, full.
If you have a $57,000 account then one unit is $50.000 and your 04 unit line would amount to 20 mini lots.

Your min BP is going to be 3.2 to 8% with a max initial BP of 32%.

There are only 3 rules:

Your position, '00', is a price on a chart that should be at/outside of the weekly+ range.
Your lot size should increase over time and opportunity.
You target percent gains not pips.

As TRO would say,"Price is the same on all time frames".

00 is a line that exists on every chart.
## is as large as your risk tolerance and gained space allow.

You can do anything with this space from any time frame, but you must remember that you are ultimately trading the weekly+ chart.

You don't have to trade the weekly+ right away but your trades should gravitate towards a long(er) term holding with a large position size.

Yes, sometimes price moves very fast and you don't get the size out there that you would like :D
Just keep doing the same thing over and over again until you hit it big:

Position
Lot Size
Percent

If your heart is not beating faster then you are not doing it right ;)

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Postby Captain Pugwash » Fri Jan 25, 2013 10:00 am

Thanks MO

If I read it right on your EU example, I position myself over the monthly extreme and "pump" my space in the basing area.

I do this by simply taking my profit at some lower area of the basing, and then getting in again on a retrace, re-entering, with a larger lot size of course - because I have filled my "space bucket" with more cash.

That sounds exactly what we are told the banks do before a move

Once I am at max lots - enjoy the ride
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

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