The ideas that I trade by:

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prochargedmopar
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Postby prochargedmopar » Fri Feb 01, 2013 1:49 am

trueblueTEX wrote:It's uncanny how I sell and price goes up and how I buy and price goes down.


Just start trading with the trend but enter counter trend to the current price movement.
;)
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby trueblueTEX » Fri Feb 01, 2013 2:18 am

MightyOne wrote:... Where might I increase my size & do I have 'too much' space ....

If I understand correctly, you consult your fib tool for levels to add in.

Or am thinking too mechanically?

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Postby trueblueTEX » Fri Feb 01, 2013 2:29 am

MightyOne wrote:Step 1

The Idea Phase:

Image

It looks to me like it was not a good time to get into a trade. Price is close to midway beteen the previous high and the previous low so I don't really have a good sense of which extreme it is really traveling to.

Maybe I should wait until price has move near one of those extremes and then see if price closes over one of them or does not close over it.

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Postby nimo350 » Fri Feb 01, 2013 3:55 am

nt
Last edited by nimo350 on Thu Feb 06, 2014 12:27 pm, edited 2 times in total.

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Postby nimo350 » Fri Feb 01, 2013 4:00 am

nt
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Postby nimo350 » Fri Feb 01, 2013 4:19 am

nt
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dojirock
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Postby dojirock » Fri Feb 01, 2013 4:49 am

MO,

I admire your patience and persistence........

doji
:D
"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!"

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Postby MightyOne » Fri Feb 01, 2013 6:12 am

nimo350 wrote:
PebbleTrader wrote:Like what MO was just saying, with stop placement it will be really far away on a weekly chart.

As time moves forward you can build up the size and adjust the stop if it's too large given what had taken place.


It sounds like priority is given to let time pass and collect space, over adding lots??

I am confused with when and how to turn space into lots, and doing so in which TF.

Or maybe I just need to do more reading on this. :?


There are only 2 ways to increase your position size:

1) you liquidate and buy x% more on ret.
example:
the 05 unit line is 5/4 or 25% more size.
the 05 unit line is located at (4/5) - 1 or the 20% ret.
2) you add lots at the current price when in a position:
example:
if you are short 12 lots and you short another 6 lots then your position drops to the 66 ret...
12/18 or (StartingSize/EndingSize) = 66.66% so your space is reduced by 33.33%.
18/12 = +50% size
04/06 = +50% size
The 06 unit line is 2 lines from ## so your position drops by 2 lines from 00.
Had you liquidated 12 lots, you could reenter for 18 lots at the 06 unit line (33 ret) without dropping your position.

When do you add lots? When and where you can :lol:
If you understand how adding lots impacts your position then you should be able to make that decision without my help.

Rule of thumb:
Only drop your position closer to the current price when and where you would trail your stop loss on the weekly chart.
If you are not trailing your weekly SL then leave your position where it is.

Again, if you know exactly what you are doing then do differently.

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MightyOne
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Postby MightyOne » Fri Feb 01, 2013 6:15 am

dojirock wrote:MO,

I admire your patience and persistence........

doji
:D


Why do people go out of their way to be trading educators (this really sux!)?

Fortunately I still have a few beers left =)

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Postby nimo350 » Fri Feb 01, 2013 6:18 am

nt
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