it is nearly identical.
You don't need to close the gaps with wicks, I just do it to make the chart look pretty
Highest/Lowest close in 3:
- ADA_2SMA.png (112.97 KiB) Viewed 1005 times
PowerX Strategy "PowerZ"
Moderator: moderators
Re: PowerX Strategy "PowerZ"
You can eliminate a 3rd of the closes and still retain the essence of a 30 minute line chart,
it is nearly identical.
You don't need to close the gaps with wicks, I just do it to make the chart look pretty
Highest/Lowest close in 3:
it is nearly identical.
You don't need to close the gaps with wicks, I just do it to make the chart look pretty
Highest/Lowest close in 3:
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Re: PowerX Strategy "PowerZ"
What type of trader do you want to be?
Discretionary analysis =
"I don't know why I'm going long, it just 'feels right' to me"
"if you watch me watch price long enough, you might understand"
Objective analysis =
"I am going long because it can be interpreted in no other way"
"the variables change, 'the science' does not"
Discretionary analysis =
"I don't know why I'm going long, it just 'feels right' to me"
"if you watch me watch price long enough, you might understand"
Objective analysis =
"I am going long because it can be interpreted in no other way"
"the variables change, 'the science' does not"
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
-
nonibadsha
- rank: 150+ posts
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Re: PowerX Strategy "PowerZ"
IgazI wrote: What type of trader do you want to be?
Discretionary analysis =
"I don't know why I'm going long, it just 'feels right' to me"
"if you watch me watch price long enough, you might understand"
Objective analysis =
"I am going long because it can be interpreted in no other way"
"the variables change, 'the science' does not"
A profitable one
Re: PowerX Strategy "PowerZ"
I had a big bet on GRT . . .
but I lost the faith and sold
Sad times.
Sad times indeed.
but I lost the faith and sold
Sad times.
Sad times indeed.
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Re: PowerX Strategy "PowerZ"
Looks like the same chart to me. . .
but day traders might disagree
HOURLY CANDLES:
30 MIN 3 PERIOD RANGES:
but day traders might disagree
HOURLY CANDLES:
- ADA_01.png (85.64 KiB) Viewed 873 times
30 MIN 3 PERIOD RANGES:
- ADA_02.png (119.92 KiB) Viewed 873 times
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Re: PowerX Strategy "PowerZ"
Adding size is not difficult, you just have to follow a few common sense rules:
- set aside enough margin to cover a range of lot sizes: eg 1-6.
you don't want to be in a position where you have enough profit to take a chance but not enough margin.
- make sure that your minimum size is at least divisible by 2.
if you can't take partial profits then you are strategically impaired.
- if you do not have OPM then use a small lot size.
your risk = initial size over space; more size, more risk.
- only risk profit when trading at the larger lot sizes.
only press with your 'winnings'.
- take profit before adjusting your lot size.
focus on taking profit when you are in a trade.
- increase your minimum size and make sure that you have enough margin set aside for your new maximum.
it goes without saying. . .
- if you find that you've "tripped" into a good H4+ trade then manage the trade from the H4+.
not recognizing unique situations is how you miss out on a lot of money.
- set aside enough margin to cover a range of lot sizes: eg 1-6.
you don't want to be in a position where you have enough profit to take a chance but not enough margin.
- make sure that your minimum size is at least divisible by 2.
if you can't take partial profits then you are strategically impaired.
- if you do not have OPM then use a small lot size.
your risk = initial size over space; more size, more risk.
- only risk profit when trading at the larger lot sizes.
only press with your 'winnings'.
- take profit before adjusting your lot size.
focus on taking profit when you are in a trade.
- increase your minimum size and make sure that you have enough margin set aside for your new maximum.
it goes without saying. . .
- if you find that you've "tripped" into a good H4+ trade then manage the trade from the H4+.
not recognizing unique situations is how you miss out on a lot of money.
- Daily_Range_ADA.png (81.98 KiB) Viewed 823 times
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Re: PowerX Strategy "PowerZ"
Think of a large chart as aerial filming, a more complete picture of the path.
you have to mix in a little ground recon, as you do not live in the sky, and that's your small chart.
Price is going up when it is above range(s) and down when it is below range(s); this could be the closing ranges of the chart or a defined price grid.
Asking where people took profit and attempted trades will shine light on where you should attempt trades and take profit: you're attempting at a take-profit and taking at least partial profit at an attempt.
To place a trade you simply set your stop loss and then enter within range of your stop:
triple the space, 1/3 size, capture profit, reduce space by bringing size towards 1.
To manage a trade, you can wait for the underlying chart to close below 1 or 2 closing ranges or break the range of 3.
If you simplify then trading is simple, but if you 'complexify' then trading is not so simple
This method of trading requires a maximum of 4 hours out of your day:
48 M30 closes x 5 minutes = 4 hours.
Once the trade takes off then you only have to look at it once in the morning and once at night.
you have to mix in a little ground recon, as you do not live in the sky, and that's your small chart.
Price is going up when it is above range(s) and down when it is below range(s); this could be the closing ranges of the chart or a defined price grid.
Asking where people took profit and attempted trades will shine light on where you should attempt trades and take profit: you're attempting at a take-profit and taking at least partial profit at an attempt.
To place a trade you simply set your stop loss and then enter within range of your stop:
triple the space, 1/3 size, capture profit, reduce space by bringing size towards 1.
To manage a trade, you can wait for the underlying chart to close below 1 or 2 closing ranges or break the range of 3.
If you simplify then trading is simple, but if you 'complexify' then trading is not so simple
This method of trading requires a maximum of 4 hours out of your day:
48 M30 closes x 5 minutes = 4 hours.
Once the trade takes off then you only have to look at it once in the morning and once at night.
- H6_Ranges.png (102.33 KiB) Viewed 750 times
- M30_ADA.png (105.1 KiB) Viewed 750 times
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Re: PowerX Strategy "PowerZ"
It appears the market is trying to digest some news regarding the SEC and staking rewards. . .
always something.
always something.
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
-
kiwiarian
- rank: 500+ posts
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- Location: New Zealand
- Gender:
Re: PowerX Strategy "PowerZ"
- columnCHart.png (5.74 KiB) Viewed 669 times
Attempt number 1 EURUSD
And the top wick could be drawn in manually on that middle box/bar.
Re: PowerX Strategy "PowerZ"
kiwiarian wrote:columnCHart.png
Attempt number 1 EURUSD
And the top wick could be drawn in manually on that middle box/bar.
Looks right.
You can also right click on the boxes to change the settings as well as clone the boxes.
PS: remember: it's a closing range, not a custom candle, you're still trading the underlying column chart.
- sav.jpg (17.06 KiB) Viewed 662 times
- clone.jpg (34.47 KiB) Viewed 662 times
"Everything Should Be Made As Simple As Possible, But Not Simpler!"