Three Charts

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jrtrading
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Re: Three Charts

Postby jrtrading » Tue Feb 16, 2016 10:11 pm

Here is another great video from TheRumpledOne :
(also about trading, and life)


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jrtrading
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Re: Three Charts

Postby jrtrading » Thu Feb 18, 2016 8:30 pm

Edit: Exited, was looking for a double.
Edit II: Should have held, by looking at higher timeframe chart.

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jrtrading
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Re: Three Charts

Postby jrtrading » Thu Feb 18, 2016 11:12 pm

Attempt to draw channels / cone on the DAX index.

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jrtrading
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Re: Three Charts

Postby jrtrading » Fri Feb 19, 2016 9:35 am

The fear (my fear) of trading horizontal lines is getting whipsawed.
That said I better select a location where it only makes sense to trade in one direction.

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Re: Three Charts

Postby jrtrading » Fri Feb 19, 2016 11:49 am

Sorry about the image quality, it is better if opened in a new tab.

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Re: Three Charts

Postby jrtrading » Fri Feb 19, 2016 2:40 pm

I have been watching some more TRO videos the last days, such as "All you need to know about trading":

- You can control the size of your loss (skill) but you can't control the size of your win (luck)
- Expectancy = Probability of Win x Average of Win - Probability of Loss x Average Loss
TheRumpledOne


This reminded me of the TheReadlDeal's thread on FF, where he attempts to get very small stops (such as 3 pips)
at an extreme to achieve a high reward-to-risk ratio, sometimes 10:1 or 20:1 or more intraday.

Minimizer of risk and maximizer of reward as I think MightyOne says.

I'm thinking that if it is possible to do something like this for the first initialization of space,
then that high reward-to-risk ratio could bring the lot size up quickly towards a target within the daily range.

Using a (very) small space when there is few "pips on ice" and then larger space utilizing that gain for a target.

The problem with very small spaces is that it is easy to be taken out,
but when the lot size is small, perhaps it is not that important (?).

Anyways, just some thoughts.

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MightyOne
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Re: Three Charts

Postby MightyOne » Fri Feb 19, 2016 5:03 pm

jrtrading wrote:I have been watching some more TRO videos the last days, such as "All you need to know about trading":

- You can control the size of your loss (skill) but you can't control the size of your win (luck)
- Expectancy = Probability of Win x Average of Win - Probability of Loss x Average Loss
TheRumpledOne


This reminded me of the TheReadlDeal's thread on FF, where he attempts to get very small stops (such as 3 pips)
at an extreme to achieve a high reward-to-risk ratio, sometimes 10:1 or 20:1 or more intraday.

Minimizer of risk and maximizer of reward as I think MightyOne says.

I'm thinking that if it is possible to do something like this for the first initialization of space,
then that high reward-to-risk ratio could bring the lot size up quickly towards a target within the daily range.

Using a (very) small space when there is few "pips on ice" and then larger space utilizing that gain for a target.

The problem with very small spaces is that it is easy to be taken out,
but when the lot size is small, perhaps it is not that important (?).

Anyways, just some thoughts.


Just because targets are within the daily range that does not mean that everything is done in one day.

You can control the size of your win:
1) increasing/decreasing your position size
2) targeting more/fewer pips
3) setting a stop loss or taking profit.

You can control whether you win/or lose when in profit by:
1) locking in profit
2) liquidating
3) stop to BE+x

jrtrading
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Re: Three Charts

Postby jrtrading » Fri Feb 19, 2016 5:26 pm

MightyOne wrote: Just because targets are within the daily range that does not mean that everything is done in one day.

You can control the size of your win:
1) increasing/decreasing your position size
2) targeting more/fewer pips
3) setting a stop loss or taking profit.

You can control whether you win/or lose when in profit by:
1) locking in profit
2) liquidating
3) stop to BE+x


Ok, thanks a lot for your reply.
The reason I posted these thoughts was that
I have been having some success with accumulating on the M1 and M5 time frame (with small stops),
and taking a profit when you "know" there will be a bounce, but not too soon.

I have realized that the idea of space is not only money management, but is also modification of behavior, in that it
encourages being dynamic (contracting and expanding) being in line with "markets eliminate profit".
There is definitely more to it than first meet the eye.

jrtrading
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Re: Three Charts

Postby jrtrading » Fri Feb 19, 2016 10:32 pm

jrtrading wrote:Thanks a lot for your posts Captain Pugwash,
I will have to digest the charts you posted and will give a proper reply when done so.


Thanks again.
Things makes much more sense now - I agree, no words needed really.

Edit: Today, after a year at Kreslik
I finally understood why the term "Wicks show the way, NOT" is phrased as it is. Quite funny :)

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Re: Three Charts

Postby jrtrading » Sat Feb 20, 2016 6:52 pm

Enough with the charting.
I think I know what I need to know and it is time to practice accumulation in full.

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