The ideas that I trade by:

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MightyOne
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Postby MightyOne » Sat Feb 16, 2013 4:42 am

lazygeorge wrote:
MightyOne wrote:Just my thoughts on where gold may be heading if the trend does not break to the upside:

Image



How do you define trend?

I would say ranging between 1800 and 1500 approx.... in overall uptrend..
Would not rule out lower than 1500..maybe 1200-1300...


1) a trend is not a retracement
2) you know it's a retracement when price returns to the high/low (0%)
3) find the TRUE RETRACEMENTS and you find the trend.

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Last edited by MightyOne on Sat Feb 16, 2013 6:12 pm, edited 1 time in total.

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es/pip
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Postby es/pip » Sat Feb 16, 2013 7:31 am

I also want to say this in this thread....

I haven't looked at the entire size thing and position in the way that MO has described.

I learned a long time ago, to not ever dismiss anything that you do not understand.

I am going to post on my new thread about my stuff, but i am also going to set aside some time and go back and read this thread and study "space".

I have not kept up with it, and i do not understand it all.

I will need to look at it, assess it and then make a decision on whether or not to apply it to my trading.

MO-----------

I know i have said it before, and this will probably not be last time, but i sincerely appreciate your insight as it has allowed me to advance as a trader.

I don't want to get all gay and mushy here.................. the last thing i would want to do is piss off all my blonde friends.

So i will just leave it at that.

8)
Bend over and assume the position for another 4 years of hope and change.

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MightyOne
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Postby MightyOne » Sat Feb 16, 2013 9:15 am

"I don't want to get all gay and mushy here" -es/pip

There is no need to tippytoe around me; if you are gay then that is between you and God =)

Space is very easy to understand:

If I can trade 4 lots and 100 space at 2% risk then I can trade 8 lots at 50 space with 2% risk.

How do I know?

1) 1 - (4/ eight) = 50% ret or half of 100
2) 8/4 = 2 or double the lot size at the 50 space

What if I wanted 9 lots huh!?

4/9 - 1 = the 55.5% ret
9/4 = 2.25 times the prev. lot size.
So if I already had 9 lots then I could purchase 20 lots at the 55.5% ret without increasing my risk (assuming that I was flat during the retrace).

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PebbleTrader
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Postby PebbleTrader » Sat Feb 16, 2013 3:20 pm

ES:

It's not all that different than if you were to say "I need a 100 pip stop loss" and than figure out how many lot's that is.

Space is that simple, just trading smaller or larger stop loss for smaller or larger lots.

The complexity of space is in the strategy within each chart.
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paweldobkowski
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Postby paweldobkowski » Sat Feb 16, 2013 6:04 pm

PebbleTrader wrote:ES:

It's not all that different than if you were to say "I need a 100 pip stop loss" and than figure out how many lot's that is.

Space is that simple, just trading smaller or larger stop loss for smaller or larger lots.

The complexity of space is in the strategy within each chart.


So if my long term analysis tells me that price of any instrument will for example rise i can start to build a position by adding lots as it moves my way and i just need to keep track of where the avg is?

Is this even close?

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MightyOne
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Postby MightyOne » Sat Feb 16, 2013 6:47 pm

You don't keep track of your average price, just your stop which equals x% loss.

If you are in a trade and you add lots then your position moves closer to the current price.
If you liquidate and then reenter at a retracement into your 'frozen' space then your position stays frozen in place where last you left it.

Maybe we should start a 'Space Wars II: the strategy guide'

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PebbleTrader
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Postby PebbleTrader » Sat Feb 16, 2013 7:17 pm

I was just explaining it in a way most people could easily grasp the idea instead of thinking that it is a complex idea that is hard to wrap you mind around.

I don't do much setting of average prices, because it would just frustrate me if a wick took out my better positions as well.

It should take anyone less than 24 hours to understand the general concept of space, if it takes longer than that, I fear there is no hope!

There is the general idea and then there is the "strategy" aspect that is unique to each chart.
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trueblueTEX
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Postby trueblueTEX » Sat Feb 16, 2013 7:41 pm

MightyOne wrote: Maybe we should start a 'Space Wars II: the strategy guide'


Yes yes yes! Please please please! :smt041

pawelklos
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Postby pawelklos » Sat Feb 16, 2013 9:14 pm

MightyOne wrote:
Maybe we should start a 'Space Wars II: the strategy guide'


Good idea :)

In general, I try to play the s/r and add lots when it goes in the right direction. Space wars can help me to better control risk.

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es/pip
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Postby es/pip » Sun Feb 17, 2013 2:28 am

I see my posts were deleted.

I must assume that free speech is not allowed on this forum, and this forum will go the way of the USA.

You do not edit or delete my *censored - swear word* posts.

I do not give a s**t why they were deleted, who asked for them to be deleted or who actually deleted them.

Now you can remove me from this forum.

I want my username erased.

I want all of my posts deleted.

I want my entire account erased from this forum.
Bend over and assume the position for another 4 years of hope and change.

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