THE MACRO PIP

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volnmar
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Re: THE MACRO PIP

Postby volnmar » Sun Jul 05, 2015 3:34 pm

MightyOne wrote:
volnmar wrote:Hello MO can you share how to make money on that futures options?

Keep reading all your posts, thank you for that.


All of the option combinations are readily available, for free, online.

& I'm sure that it is more desirable to go through that information in one place
than by reading through hundreds of posts.

There are only 2 major things to keep in mind when you trade vanilla:
#1 the price that you pay for the option
#2 the time until expiration

If you were to draw your space from an extreme then the strike price would be the end of that space.
When price is within space then you buy a call or a put.
If your trade is successful then you sell your call or put and receive space with which to trade the outright.
From there it is the same as Space Wars.


thank you keep continue with macro pips.. I was on phone and saw your signiture on the botom of posts... where you write about options, i thought it was post in this thread. sorry
Just learning

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MightyOne
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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 3:59 pm

volnmar wrote:
First Picture:

Why is the SPACE where it is? Could it be drawn sooner? from your definition: "previous candle was red" it could be drawn on three red bars sooner, all of them also had red bar before....

/Only difference what I see here is that second black bar´s high was higher than previous red bar´s high but not closed above that high/

Please tell me like to a five years old child, where exactly should I draw that SPACE.

From your picture.:
We are on second black bar, previous bar was red.......OK..... now you draw space 8MP from extreme, this will be your SL no matter if price closes above.... in this moment red bar is forming, still not closed.... in this time I have to enter on some price in space....

Please clarify


The stop is calculated from the trigger and is 8, 6, or some other number of macro pips
that you feel comfortable with.

The trigger is some number of mp from the breakout price (1.5, 2, or some other number that you decide)

The 'previous candle' is the last candle to close.

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Joe Pipette
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Re: THE MACRO PIP

Postby Joe Pipette » Sun Jul 05, 2015 4:09 pm

That chart is all needed to know. No entry long. Short entry at red mark - last candle red. Clear now.
I made my money on welfare.
I only draw lines on old charts and pontificate on forums as a hobby.
Praise Allah.
[YouTube]https://youtu.be/d4VCNe1twOU[/YouTube]

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MightyOne
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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 4:19 pm

Joe Pipette wrote:That chart is all needed to know. No entry long. Short entry at red mark - last candle red. Clear now.


I am happy that you are growing in understanding. =D>

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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 5:35 pm

I have picked this section of the chart to show how I would draw the line if there is a price gap.

Mechanical trades are imperfect, but if you are always trading in the direction of profit then you
will have the best of it.

Although the long was missed because price did not come down to the trigger, you could have entered
using decision points.

The core of the strategy is the 'direction of profit' (the trade conditions).

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MightyOne
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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 6:54 pm

When you draw a line on the open price of the breakout candle it creates what we
refer to as a 'zero line'.

Many traders choose to trade to and away from these lines as part of their strategy:

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Re: THE MACRO PIP

Postby TheRumpledOne » Sun Jul 05, 2015 7:41 pm

PRICE ACTION

“Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame .

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.”
- H. Rearden

1) Price will either breakout of the high, low or both of the previous bar

2) Price will not breakout of the previous bar.

You cannot reduce it any further. Anything else complicates the issue.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 9:11 pm

TheRumpledOne wrote:PRICE ACTION

“Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame .

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.”
- H. Rearden

1) Price will either breakout of the high, low or both of the previous bar

2) Price will not breakout of the previous bar.

You cannot reduce it any further. Anything else complicates the issue.


Everything but 'Space' is a TRO strategy or some variation of TRO strategy.

The 'Buzzard', which I am sure no one remembers, has been modified to be
'3 candles with consecutively larger or smaller bodies'

I try to give him credit, but he is a humble man :mrgreen:

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Re: THE MACRO PIP

Postby TheRumpledOne » Sun Jul 05, 2015 9:32 pm

BUZZARD REVERSAL - after 3 or more consecutive like-colored H1 candles.. you wait for the current candle to reverse in color
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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MightyOne
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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 9:40 pm

TheRumpledOne wrote:BUZZARD REVERSAL - after 3 or more consecutive like-colored H1 candles.. you wait for the current candle to reverse in color


Thanks for the reminder TRO, it has been years since I have seen a post about it.

...or some variation of TRO strategy

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