Three Charts

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MightyOne
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Re: Three Charts

Postby MightyOne » Wed Mar 23, 2016 3:36 am

It is so much easier than you are making it.

Let's say that you are trading FOURS at $1 per pip & you make 2 macros.
Looking left, under the PIP column & in the same row, you see that you are trading the equivalent of $4 per pip; which means that your two macros are worth $8.
2 FOURS is worth $1 x (2 x 4) = $8
2 TWOS is worth $2 x (2 x 2) = $8
If you gain 2 FOURS then you have exactly 2 TWOS or 2 of any other macro or even 2 pips at $4.

Two of something is two of something else, there is no need to pull out your calculator.
If you make 2 SIXTEENS at $.25 then you have made 2 PIPS at $4...that is four doubles, but you can still do it in your head.

EDIT: if you gain 12 macros at the equivalent of $4 PIPS and you want to bump it up to $4.80 PIPS then:
(4 / 4.8)12 = 10
and then we check ---> $4 x 12 = $48, $4.80 x 10 = $48.
So your 12 macros is worth 10 macros at the next PIP level.

MICRO_2_MACRO.png
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jrtrading
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Re: Three Charts

Postby jrtrading » Wed Mar 23, 2016 1:04 pm

MightyOne wrote:It is so much easier than you are making it.

Let's say that you are trading FOURS at $1 per pip & you make 2 macros.
Looking left, under the PIP column & in the same row, you see that you are trading the equivalent of $4 per pip; which means that your two macros are worth $8.
2 FOURS is worth $1 x (2 x 4) = $8
2 TWOS is worth $2 x (2 x 2) = $8
If you gain 2 FOURS then you have exactly 2 TWOS or 2 of any other macro or even 2 pips at $4.

Two of something is two of something else, there is no need to pull out your calculator.
If you make 2 SIXTEENS at $.25 then you have made 2 PIPS at $4...that is four doubles, but you can still do it in your head.

EDIT: if you gain 12 macros at the equivalent of $4 PIPS and you want to bump it up to $4.80 PIPS then:
(4 / 4.8)12 = 10
and then we check ---> $4 x 12 = $48, $4.80 x 10 = $48.
So your 12 macros is worth 10 macros at the next PIP level.


Thanks MightyOne for posting, much appreciated.

jrtrading
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Re: Three Charts

Postby jrtrading » Thu Mar 24, 2016 4:41 am

For those interested, a Youtube-video
I found very inspiring:
Made $1.2 million in two days trading /ES

Music warning :)


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MightyOne
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Re: Three Charts

Postby MightyOne » Thu Mar 24, 2016 4:57 am

jrtrading wrote:For those interested, a Youtube-video
I found very inspiring:
Made $1.2 million in two days trading /ES

Music warning :)



Suddenly, at 11:42, the trading didn't matter anymore :lol:

jrtrading
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Re: Three Charts

Postby jrtrading » Thu Mar 24, 2016 11:39 am

This is a thing I am struggling with - I see both.

XAUUSD.png

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Re: Three Charts

Postby MightyOne » Thu Mar 24, 2016 12:24 pm

jrtrading wrote:This is a thing I am struggling with - I see both.


What do you see or, more importantly, what are you writing down?

Even I do not know what will happen next, I can highly suspect this or that but I must trade what I see; be it on the charts or a construct of my imagination.

It is good to ask questions and poke a stick at the limits of your understanding, but it is not good to get hung up one things that are not important.

Trading is mostly the stability of your mind, position sizing, & money management.
Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking.

Ideas & action, not rules and confirmation or, as the guy in the YouTube video says, "trade it, don't date it".

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jrtrading
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Re: Three Charts

Postby jrtrading » Thu Mar 24, 2016 4:18 pm

MightyOne wrote: What do you see or, more importantly, what are you writing down?

Even I do not know what will happen next, I can highly suspect this or that but I must trade what I see; be it on the charts or a construct of my imagination.

It is good to ask questions and poke a stick at the limits of your understanding, but it is not good to get hung up one things that are not important.

Trading is mostly the stability of your mind, position sizing, & money management.
Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking.

Ideas & action, not rules and confirmation or, as the guy in the YouTube video says, "trade it, don't date it".


Thanks a lot for this post.

XAUUSD.png

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Re: Three Charts

Postby jrtrading » Thu Mar 24, 2016 4:33 pm

SPX.png

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Re: Three Charts

Postby jrtrading » Thu Mar 24, 2016 9:10 pm

Update SPX

SPX.png

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Re: Three Charts

Postby jrtrading » Mon Mar 28, 2016 2:06 am

Edit: Added another chart after price closed below something.
Edit II: A new chart after that price started going higher again.
Edit III: A new chart where price seems to be going lower again.
Edit IV: Price went higher again, added chart.

SPX.png


SPX2.png


SPX3.png


SPX4.png


SPX5.png
Last edited by jrtrading on Mon Mar 28, 2016 8:17 am, edited 4 times in total.

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