The ideas that I trade by:
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- trueblueTEX
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nimo350 wrote:Tex, for me its the average price of entries. MO would say to put it behind a line you believe to be s/r.
ex: if in a long position entry 1 is $5, current price is $10, and you believe $8 looks like a good/safe s/r level.
entry 2 @ current price $10, would make the average price $7.50 right? and that $8 level woudl serve as some barrier from current price to your average price.
That would be my understanding in re how average price serve us, but I am a noob so take it for what its worth.
That is the rule for trailing '00' shortly behind the current price
(adding size on ##)
& it looks something like this:
nimo350 wrote:Okay, I may have abused my space, but we'll see what happens.
I made another entry, because I feel like this short is a temporary position, ultimately I would like to go long. Also because price may not range much on the H4, thus not many chances to build space.
But who knows.
Blue line is my s/r, space is risk, bottom of space is avg price, top is total risk which is outside of weekly extreme.
Your space is so small; I hope that that is not your trade chart
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No =) just think of space as a chart window where nothing exists outside of the boundaries; if you want to trade based on 'something' then you need to capture that something in Space.
The rule of the largest correction, for lack of a creative descriptive word, simply states:
If you get a correction that is larger than the largest correction, during a trend, then it is likely NOT a correction.
It is not a perfect signal but it definitely raises an alarm
(esp if it is a traders performance chart!)
The rule of the largest correction, for lack of a creative descriptive word, simply states:
If you get a correction that is larger than the largest correction, during a trend, then it is likely NOT a correction.
It is not a perfect signal but it definitely raises an alarm
(esp if it is a traders performance chart!)
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