Three Charts

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MightyOne
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Re: Three charts

Postby MightyOne » Sun Jun 28, 2015 5:48 pm

jrtrading wrote:For a long time I have thought "why not make the initial space as tight as possible, because the smaller space the more lots, and the more lots the more profit".

As MO showed in his previous post, for a winning idea it does not really matter much what space you begin with as long as you keep adding. The initial space must thus be set with the losing ideas in mind, and be pretty wide.

This did not make sense to me until now. Thank you MO.


...the smaller space the more lots...


I use minimum size at the beginning of all trades:

$1.000, micro lots
$10.000, micro lots
$100.000, mini lots
$1.000.000, standard lots
$10.000.000, full lots

...the more lots the more profit...


True, but accumulation is gradual.

...it does not really matter much what space you begin with as long as you keep adding...


It is true that if price keeps moving away from an extreme that it doesn't matter where you entered as accumulation will
draw your stop closer to the the current price thus increasing your reward multiples.

Buuuuttt... :mrgreen:

I have my limits as you will soon see.

I ask if I can enter within 26 pips, then 39, etc.
If I project the lines to 26 above the extreme, etc, it is called a BOx or "position at a breakout" trade.

These are my personal numbers:

space_options.png
space_options.png (40.03 KiB) Viewed 649 times


...with the losing ideas in mind...


Your ideas are winning ideas until they are not :lol:

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Re: Three charts

Postby jrtrading » Sun Jun 28, 2015 6:15 pm

GBP/USD - update

S/R is something that is being revealed right now (third chart).

gbpusd2.png
gbpusd2.png (73.54 KiB) Viewed 639 times

gbpusd1.png
gbpusd1.png (72.82 KiB) Viewed 639 times

gbpusd3.png
gbpusd3.png (93.52 KiB) Viewed 639 times
Last edited by jrtrading on Sun Jun 28, 2015 6:20 pm, edited 2 times in total.

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Re: Three charts

Postby jrtrading » Sun Jun 28, 2015 6:17 pm

Thank you MO, always much appreciated.

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Re: Three charts

Postby jrtrading » Sun Jun 28, 2015 7:23 pm

Space exercise
NZD/USD - the same chart as MO showed me.

nzdusd3.png
nzdusd3.png (80.81 KiB) Viewed 621 times

nzdusd2.png
nzdusd2.png (90.71 KiB) Viewed 621 times

nzdusd1.png
nzdusd1.png (83.59 KiB) Viewed 621 times

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Re: Three charts

Postby jrtrading » Mon Jun 29, 2015 6:17 am

GBP/NZD - update

gbpnzd2.png
gbpnzd2.png (79.24 KiB) Viewed 584 times

gbpnzd1.png
gbpnzd1.png (78.42 KiB) Viewed 584 times

gbpnzd3.png
gbpnzd3.png (79.21 KiB) Viewed 584 times

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Re: Three charts

Postby jrtrading » Mon Jun 29, 2015 9:25 pm

USD/NOK

usdnok2.png
usdnok2.png (75.8 KiB) Viewed 559 times

usdnok1.png
usdnok1.png (80.99 KiB) Viewed 559 times

usdnok3.png
usdnok3.png (114.65 KiB) Viewed 559 times

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Re: Three charts

Postby jrtrading » Wed Jul 01, 2015 9:58 am

So, I have been reading about Phantom of the Pits which is basically a collection of talks with a great trader. I always appreciate seeing things from various perceptives as it enhances my ability to learn. He put forth two rules:

1. In a losing game such as trading, we shall start against the majority and assume - we are wrong until proven correct! (we do not assume we are correct until proven wrong). Positions established must be reduced and removed until or unless the market proves the position correct! (we allow the market to verify correct positions)


2. press your winners correctly without exception.


There is more to this than 'let winners run' / 'cut losers short' which he explains.
It is interesting to note that space does all these things.

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Re: Three charts

Postby jrtrading » Thu Jul 02, 2015 7:46 pm

GBP/NZD - update

Well that did not go well, NZD still being weak.
That's it for me for a while, hope it has been helpful for some, my first attempt of giving back.

gbpnzd1.png
gbpnzd1.png (91.87 KiB) Viewed 470 times

gbpnzd2.png
gbpnzd2.png (105.93 KiB) Viewed 470 times

gbpnzd3.png
gbpnzd3.png (86.23 KiB) Viewed 470 times

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Re: Three charts

Postby jrtrading » Sat Jul 04, 2015 9:20 pm

Hypothetical space markup.

If I compressed two times (2. and 3.) the risk side of ledger in the end would be "9r".
If I skipped the first compression (2.) of space the risk side of ledger would be "6r".
If I skipped the second compression (3.) of space the risk side of ledger would be "6r".

Edit: The cost of waiting to add until 3. would have been a position at a less secure price, i.e. risk wise it would have paid off to add early. It is interesting that a lot of things that are uncomfortable to do is the best to do in trading.

Edit II: Added chart
nzdusd.png
nzdusd.png (92.65 KiB) Viewed 416 times

nzdusd2.png
nzdusd2.png (76.06 KiB) Viewed 373 times
Last edited by jrtrading on Sun Jul 05, 2015 12:26 am, edited 3 times in total.

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Re: Three charts

Postby MightyOne » Sat Jul 04, 2015 10:08 pm

jrtrading wrote:Hypothetical space markup.

If I compressed two times (2. and 3.) the risk side of ledger in the end would be "9r".
If I skipped the first compression (2.) of space the risk side of ledger would be "6r".
If I skipped the second compression (3.) of space the risk side of ledger would be "6r".


nzdusd.png


It is easier to think of it as trailing a stop.

When you get to '4', depending on what you are trying to do on the large charts, you will either place that space back up at the 00 of '1' or at a lower high...or even daily BO.

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