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The Swamp

  • #87,561
  • Jul 3, 2021 5:49am Jul 3, 2021 5:49am
Boulder I have a question about your method.
I ask at weekend caz you have more time to explain more if possible.
You trade based on your datapoints table. So you are shorting eu for example atm.
You stop shorting when your table change direction. Let's assume eu go higher to reverse H4 downtrend stop. You stop shorting. And eu continue to change day downtrend stop and it reverse. And you will turn to long eu. So what about those open shorts you have at bottom of the chart? You may have some serious DD at that level. I know you will enter some long positions if your table change. But I know you have 10 pips target for longs and no SL for older shorts. So more higher price, more DD. How you manage your DD if eu go higher and higher from this level to change day downtrend stop?
Trade to enjoy... Money is after!
  • #87,562
  • Jul 3, 2021 11:19am Jul 3, 2021 11:19am
Quoting saninvestor
Boulder I have a question about your method. I ask at weekend caz you have more time to explain more if possible. You trade based on your datapoints table. So you are shorting eu for example atm. You stop shorting when your table change direction. Let's assume eu go higher to reverse H4 downtrend stop. You stop shorting. And eu continue to change day downtrend stop and it reverse. And you will turn to long eu. So what about those open shorts you have at bottom of the chart? You may have some serious DD at that level. I know you will enter some long...
I remember Britain election that won Boris Johnson. It caused almost 350 pips gap on gu. You know what I'm talking about. How is it possible to manage no-sl positions in such spacial and unexpected conditions? I just want to learn. I'm really interested in your method.
Trade to enjoy... Money is after!
  • #87,563
  • Edited 2:09pm Jul 3, 2021 11:36am | Edited 2:09pm
Quoting saninvestor
Boulder I have a question about your method. I ask at weekend caz you have more time to explain more if possible. You trade based on your datapoints table. So you are shorting eu for example atm. You stop shorting when your table change direction. Let's assume eu go higher to reverse H4 downtrend stop. You stop shorting. And eu continue to change day downtrend stop and it reverse. And you will turn to long eu. So what about those open shorts you have at bottom of the chart? You may have some serious DD at that level. I know you will enter some long...
Before I trade any accounts, at first I need to know what risk tolerance is for the account? is it low risk DD 10% or medium risk 30% DD or aggressive account 40% and up? Once I know the risk , I will use position size management to trade accordingly. I set position size according to max loss limits if Eur goes all against my shorts all the way up to day downtrend stop..eg 200 pips away. 1 lot will have $2,000 loss. if I try to control DD under 10% , so my max lot size allowed is 5 lots for $100k account. I then divide those 5 lots into smaller positions eg 0.5 each trade that I trade daily. of course if day downtrend reverses to uptrend, which is not my original thought, I have to cut the loss. But before I reach the point, I remain clam when floating occurs. I will keep trading the same way as I plan. since its within DD limit.

Another thing I do, I think its most important for my mental. I always withdraw profits from the trading accounts periodically at the beginning. My number one goal is to turn the accounts into risk free accounts, I always recommend to withdraw profits at the beginning. in that way risk removed out of the trading accounts...once initial deposits are returned and the accounts are risk free money, I may take more risks by compounding profits to grow the accounts.... think about it, what is drawdown on free money? .. its 0%...I feel better that way in case something unexpected happens. eg this account.. you will see withdraw when the account reached certain level. That is how I manage my accounts .

Occasionally I use loss recovery strategy, whenever I make profits, I use profits to cut down equal size of longs and shorts positions to reduce the DD.
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  • #87,564
  • Jul 3, 2021 12:12pm Jul 3, 2021 12:12pm
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  • #87,565
  • Jul 3, 2021 1:32pm Jul 3, 2021 1:32pm
Quoting saninvestor
{quote} I remember Britain election that won Boris Johnson. It caused almost 350 pips gap on gu. You know what I'm talking about. How is it possible to manage no-sl positions in such spacial and unexpected conditions?.
GBPUSD can rise or drop 350 pips even during a single trading day...

Btw my tolerance level for selling GBP related pairs is 3000 pips...
I am who I am
  • #87,566
  • Jul 3, 2021 2:12pm Jul 3, 2021 2:12pm
Putin Approves Updated Russian National Security Strategy...

"The document deems the reduction in the use of the dollar in Russia's foreign trade as one of the means to securing the country's economic security."...
https://www.tasnimnews.com/en/news/2...urity-strategy
I am who I am
  • #87,567
  • Jul 3, 2021 2:19pm Jul 3, 2021 2:19pm
It may be time to look for bottoming in Bitcoin. This retrace since the (week) hammer forming, may be the best place to seek some signs.
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  • #87,568
  • Jul 3, 2021 2:32pm Jul 3, 2021 2:32pm
Quoting gatorinla
It may be time to look for bottoming in Bitcoin. This retrace since the (week) hammer forming, may be the best place to seek some signs. {image}
Bitcoin; Since the week hammer. A tl looks to be forming. Some R to be is on the chart.
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those who can, do. those who cant, talk about those who can
  • #87,569
  • Jul 3, 2021 2:46pm Jul 3, 2021 2:46pm
I see a possible bear flag forming on the 2h, Next time support is tested, its worth seeing if its not getting through. I added some cloned lines for a possible channel..
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those who can, do. those who cant, talk about those who can
  • #87,570
  • Jul 3, 2021 2:51pm Jul 3, 2021 2:51pm
Quoting gatorinla
I see a possible bear flag forming on the 2h, Next time support is tested, its worth seeing if its not getting through. I added some cloned lines for a possible channel.. {image}
I have a ring around the possible bear flag. I raised the clone line, to the indicated/marked candles. What I"m calling a bear flag, may also be following the angle to rise.
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those who can, do. those who cant, talk about those who can
  • #87,571
  • Jul 3, 2021 2:59pm Jul 3, 2021 2:59pm
Quoting gatorinla
{quote} I have a ring around the possible bear flag. I raised the clone line, to the indicated/marked candles. What I"m calling a bear flag, may also be following the angle to rise. {image}
I added an additional clone (white line), because I like the way pa responded to it..
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those who can, do. those who cant, talk about those who can
  • #87,572
  • Jul 3, 2021 3:05pm Jul 3, 2021 3:05pm
Quoting gatorinla
{quote} I added an additional clone (white line), because I like the way pa responded to it.. {image}
Getting to the point.. 34,680 may be light support .. The 6h and 4h just closed above.. the 2h has a hammer using that support. Plus the clone tl. This may have shaped the flag, but now above, it may go North. Worth a peek.
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those who can, do. those who cant, talk about those who can
  • #87,573
  • Jul 3, 2021 3:19pm Jul 3, 2021 3:19pm
Quoting gatorinla
{quote} Getting to the point.. 34,680 may be light support .. The 6h and 4h just closed above.. the 2h has a hammer using that support. Plus the clone tl. This may have shaped the flag, but now above, it may go North. Worth a peek. {image}
My flow number day/8h are bear negative (little bear defence of a rise.) 6/through 4h are still bearish.. My 30 min is now bear negative. favorable to a rise. .
those who can, do. those who cant, talk about those who can
  • #87,574
  • Jul 3, 2021 3:46pm Jul 3, 2021 3:46pm
Quoting Boulder
{quote} Before I trade any accounts, at first I need to know what risk tolerance is for the account? is it low risk DD 10% or medium risk 30% DD or aggressive account 40% and up? Once I know the risk , I will use position size management to trade accordingly. I set position size according to max loss limits if Eur goes all against my shorts all the way up to day downtrend stop..eg 200 pips away. 1 lot will have $2,000 loss. if I try to control DD under 10% , so my max lot size allowed is 5 lots for $100k account. I then divide those 5 lots into...
Good answer!
First of all I really appreciate your efforts to write down my answer.
So it's all about how much risk is acceptable for you. And your ability to control your emotions when DD is reaching the limits. And of course your experience in use your profits to cut the losses. Good answer. Thanks.
Hope more green pips for you my friend.
Trade to enjoy... Money is after!
  • #87,575
  • Jul 3, 2021 7:08pm Jul 3, 2021 7:08pm
Quoting gatorinla
{quote} Getting to the point.. 34,680 may be light support .. The 6h and 4h just closed above.. the 2h has a hammer using that support. Plus the clone tl. This may have shaped the flag, but now above, it may go North. Worth a peek. {image}
pa was below 34,680, but the last h closed above at 34,682.16. This was a day, 12h, 8h, 6h, 4h, 2h, 1h close.
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those who can, do. those who cant, talk about those who can
  • #87,576
  • Jul 4, 2021 1:13am Jul 4, 2021 1:13am
Quoting gatorinla
{quote} pa was below 34,680, but the last h closed above at 34,682.16. This was a day, 12h, 8h, 6h, 4h, 2h, 1h close. {image}
near testing next R 35,359.
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  • #87,577
  • Jul 4, 2021 4:25am Jul 4, 2021 4:25am
it is bitcoin chart indicate higher high, and lower high gator..?
  • #87,578
  • Edited 8:19am Jul 4, 2021 7:33am | Edited 8:19am
12-year-old Abhimanyu Mishra becomes youngest grandmaster in chess history...
https://edition.cnn.com/2021/07/01/s...mYaTaT566Ryi2Y

Make China great again...First spacewalk on the China Space Station...
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  • #87,579
  • Jul 4, 2021 8:23am Jul 4, 2021 8:23am
Quoting gatorinla
{quote} near testing next R 35,359. {image}
Bitcoin, 35,359 has a 4h close above now.. 4h trend swapped to bullish.. Other speculated supports are on the chart now.. Like 34,926 (34,697 s). Day R 39,132 area. 36,317+ needs closes above to go higher..
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those who can, do. those who cant, talk about those who can
  • #87,580
  • Edited 8:43am Jul 4, 2021 8:32am | Edited 8:43am
Quoting SkyTrade2007
it is bitcoin chart indicate higher high, and lower high gator..?
In perspective, it depends on the start/stop date you speak of..

It has a chance to start closing above 35,390.. On larger tf that may be bullish off the hammer bottom. Start reading the novel from the beginning. They are all linked..

Start closing above these R's, is what's needed to rise. R is becoming S
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those who can, do. those who cant, talk about those who can
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