DAILY WICK ZONE TRADING

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TheRumpledOne
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Re:

Postby TheRumpledOne » Mon Jan 02, 2017 12:41 am

MightyOne wrote:
Through position sizing, you can give two charts the same financial consequence and thus treat them the same but the fact
remains that, from a technical perspective, everything is different about larger charts: position sizing, strategy, objectives, interpretation, etc.


That is the concept I still fail to grasp.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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MightyOne
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Re: Re:

Postby MightyOne » Mon Jan 02, 2017 7:55 pm

TheRumpledOne wrote:
MightyOne wrote:
Through position sizing, you can give two charts the same financial consequence and thus treat them the same but the fact
remains that, from a technical perspective, everything is different about larger charts: position sizing, strategy, objectives, interpretation, etc.


That is the concept I still fail to grasp.


On one side of a nickel, even wrapping onto the edge, it reads "SPACE" & on the other side it reads "POSITION SIZE".

Space is gained as the nickel rolls in the direction of profit and space is lost as it rolls in the direction of loss and the only other way
to effect space is to change the position size, which instantly lengthens or shortens the current space.

It is not simply a formula, it is a living breathing thing that is nurtured throughout the life of the idea; it is something that can be seen
with your eyes and shaped with your hands.

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TheRumpledOne
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Re: DAILY WICK ZONE TRADING

Postby TheRumpledOne » Tue Jan 03, 2017 12:53 am

RISK is the amount you are willing to lose if you guess wrong on the direction price is moving.

Some risk 1% of their account balance.
Some more and some less.

RISK = POSITION SIZE / STOP LOSS

Find the place on the chart where it makes sense to stop out.

Calculate the position size and enter the trade.

As price moves the distance between price and stop loss increases or decreases.

The risk stays the same unless you change the position size.

Once you put a trade on you can:
1) wait,
2) exit part of the position,
3) exit all of the position,
4) add to the position.

That is it.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Mira
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Re: DAILY WICK ZONE TRADING

Postby Mira » Tue Jan 03, 2017 1:45 pm

MightyOne wrote:The risk stays the same because space is affected by changes in position size: (oldSize/newSize)space.

Space can be increased, reduced, or divided and spread between pairs and periods:
if I have 4 lines on an H1 chart then I might divide my position size in half to trade 4 lines on the
H4 chart that are twice as wide. If after moving to the H4 chart I am sitting with 6 lines then I might
divide my size in half and trade the daily chart with 6 lines that are twice as wide as the H4 lines.

While your math is correct, I believe that you are overlooking a whole universe of strategy.




Mmmm.. so i'm risking the same and making the same over any chart (period and pair)..
In other words making one line on EURUSD 5m-1h is the same (in % of my account) of making one line on GBPUSD D1!
__________ THE :smt096 IS A LIE__________

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Re: DAILY WICK ZONE TRADING

Postby TheRumpledOne » Tue Jan 03, 2017 4:48 pm

MightyOne wrote:The risk stays the same because space is affected by changes in position size: (oldSize/newSize)space.

Space can be increased, reduced, or divided and spread between pairs and periods:
if I have 4 lines on an H1 chart then I might divide my position size in half to trade 4 lines on the
H4 chart that are twice as wide. If after moving to the H4 chart I am sitting with 6 lines then I might
divide my size in half and trade the daily chart with 6 lines that are twice as wide as the H4 lines.

While your math is correct, I believe that you are overlooking a whole universe of strategy.


If I only understood the strategy.
But I don't SEE IT!
I have been trying, MO, to grasp the concept but still fail.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Re: DAILY WICK ZONE TRADING

Postby TheRumpledOne » Tue Jan 03, 2017 4:48 pm

TRO002.png
TRO002.png (61.73 KiB) Viewed 816 times
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Re: DAILY WICK ZONE TRADING

Postby TheRumpledOne » Tue Jan 03, 2017 4:52 pm

Mira wrote:
MightyOne wrote:The risk stays the same because space is affected by changes in position size: (oldSize/newSize)space.

Space can be increased, reduced, or divided and spread between pairs and periods:
if I have 4 lines on an H1 chart then I might divide my position size in half to trade 4 lines on the
H4 chart that are twice as wide. If after moving to the H4 chart I am sitting with 6 lines then I might
divide my size in half and trade the daily chart with 6 lines that are twice as wide as the H4 lines.

While your math is correct, I believe that you are overlooking a whole universe of strategy.




Mmmm.. so i'm risking the same and making the same over any chart (period and pair)..
In other words making one line on EURUSD 5m-1h is the same (in % of my account) of making one line on GBPUSD D1!



10 pips is 10 pips.
Does not matter what the chart period is.

If gaining 10 pips with a position size of 10 lots means a 1% increase in my account, then it does not matter what chart period I am viewing.
If I exit with a 10 pip profit then I make 1% gain.
I don't even have to be looking at or using charts.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Re: DAILY WICK ZONE TRADING

Postby TheRumpledOne » Wed Jan 04, 2017 3:09 pm

MO, I am speaking clearly in English.

Your posts trigger more questions than answers, when I read them.

Can you write your method on a 3x5 card? If not, too complex! Distill it down to its essence. Should be simple, step by step. If x then y else z. Like coding an indicator.

Just because you can see it doesn't mean I can. Help me to see what you see.

Thanks.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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aliassmith
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Re: DAILY WICK ZONE TRADING

Postby aliassmith » Wed Jan 04, 2017 9:17 pm

TheRumpledOne wrote:MO, I am speaking clearly in English.

Your posts trigger more questions than answers, when I read them.

Can you write your method on a 3x5 card? If not, too complex! Distill it down to its essence. Should be simple, step by step. If x then y else z. Like coding an indicator.

Just because you can see it doesn't mean I can. Help me to see what you see.

Thanks.


LOL..... You called it a method and want it simple.... You don't know MO at all.

MOs idea is to create a visual representation of all pairs and timeframes being equal weight. 10 pips isn't 10 pips across all pairs if you consider volatility of each pair and setups on different timeframes.

I feel that he explained it well and there is no exact if x happens then do y.

Probably difficult to make an algo for it.
Trade Your Way as Long as It Makes Money!

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Re: DAILY WICK ZONE TRADING

Postby TheRumpledOne » Thu Jan 05, 2017 4:19 am

We can switch back to your thread.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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