New Vid series by bredin

[bredin]

Hi everyone, It been a while since ive posted anything here.

I am in the process of creating a YouTube channel to show a bunch of trading stuff. Space, trading processes, some theorycrafting, even a series taken from a signal service.
Planned are book reviews, complete trade sequences, and a ton of other stuff.

Im hoping it can be a good resource for the guys here.

Insanity Industries YouTube Channel

Cheers
G.

[MightyOne]

Hi everyone, It been a while since ive posted anything here.

I am in the process of creating a YouTube channel to show a bunch of trading stuff. Space, trading processes, some theorycrafting, even a series taken from a signal service.
Planned are book reviews, complete trade sequences, and a ton of other stuff.

Im hoping it can be a good resource for the guys here.

Insanity Industries YouTube Channel

Cheers
G.

A forum is no place to learn how to trade, the ideas that are simple for you take way too long to explain
and even then there are nuances that you leave out, that you would explain if you were just talking, because
it would just cost you that much more time to explain...and by "you" I mean me.

I watched a few of your videos & things are explained well, and I did enjoy them, but I hope that the use of hundreds of
pips of initial space was just an example.

In my opinion, this is more efficient:

1) Take your target (+$500) and divide it by the daily ATR (100) to figure out how much your "big pips" are worth ($5)

2) Figure out your risk as a fraction of the target.
My default risk is 1/14 of the target, or smaller, with a maximum risk of 1.5%.
$500 / 14 = $35.71

3) divide your "big pips" by the total amount that you plan on increasing your minimum size:

EXAMPLE ONE:
1) 5u + 4u + 3u + 2u = 14/5 or 2.8
2) $5 / 2.8 = 1.78/pip
3) $35.71 / 1.78 = 20 Space
Not enough space? Start at $1.10 & 32.2 Space then increase to $1.78 (currentSpace * .6179).
Space is flexible, no worries.

EXAMPLE TWO:
1) 1u + 1u + 2u + 4u = 8/1 or 8.
2) $5 / 8 = .62/pip
3) $35.71 / .62 = 57 Space.

I size trades to reach targets within the daily range, but as I approach my 14th loss the target is moved outside of the
daily and into the weekly ranges.
Should I lose 14 times (or whatever the fraction is) the loss is considered "catastrophic" (-target, -$500) and I move backwards
a "waypoint" and target a lower number ($475) with a smaller initial size.
Should I reach my target, the new target is larger ($525) and so is the initial size.

Thoughts?
I am always open to discussion.

[bredin]

Hi MO.

I wanted to start the series on space by highlighting and promoting its risk reduction (and elimination), and leaving the max lots and attack aspects for later so I could avoid the immediate kneejerk "thats dangerous" reactions.

Ive tried, over the years, not to show space operating it its full potential, since the experience of that is so far removed from most peoples experience as to elicit incredulity. So I ease them into it by focusing on "Protect your capital" and as time goes on let them see what that naturally does to their lotsize, and to figure out for themselves how much space they really need.

The massive 500 pips of space actually spawned out of discussions with several people over the years as a way for guys with jobs to utilize space when they can only reasonably check their trades outside (or around) their work schedules.
That much space allows them to trade bigger charts and only have to check their positions on their breaks, every 4, 8 or 12 hours. This has helped them immeasurably, since they are no longer in the position of "forcing" trades during the 2 or 3 contiguous hours a day they may only be able to block in to trade.
The followup to the huge initial space, is that when you get some PA that shows youve got the extreme you want you can then come up in size massivley.

Ive got a vid coming up on this, but simply put we keep our lostsizes to fib numbers, and can adjust lostize using the fib retracement tool available on any trade platform.
So if we started at 8 lots we know that the .618 is where position moves to if you go to 13 lots, the .382 is the new position for 21 lots and the .236 is the new position for 34 lots
if we need to shed lots the 1.618 is the position of 5 lots.
keep that new position behind a couple of "somethings" youre good to go.

if someone wanted a trade at 16 lots... 1584 is close enough to 16, lol

Of course, if someone wants to do some actual math, they can

Cheers
G.

[bredin]

New Vid up

Cheers,
G

[bredin]

Hi Guys,
New Vid Up

Cheers,
G.

[michal.kreslik]

Hi Guys,
New Vid Up

Cheers,
G.

you can embed the youtube videos directly in the post easily:

code:

Code: Select all

[YouTube]6O_wzOZMtiA[/YouTube]

result:

[MightyOne]

If you double-click a line and hold ctrl & drag then you copy the line, no need to keep pushing the TL button.

Holding shift & dragging on a line shortens and lengthens it without changing the angle.

Maybe you just like pushing buttons...I don't know

Vid was good though.

[prochargedmopar]

Always the critics. LOL
Albeit sometimes helpful.

Very good to see you posting again bredin.

[prochargedmopar]

History.

The future makes new boxes so the little x pattern chart of S/D seems to not apply in trading.
Unless you've got 100 years to wait.

So far I"m on vid 3 of the trade service. They seem to be doing pretty damn well picking direction.
I'm wonder if anyone in II entered straight away instead of waiting for the exact entry and then built a position on any one of these trades.

4boxesOfHistory.png (165.97 KiB) Viewed 12171 times

[prochargedmopar]

Knowing 100% that this signal service is NOT using a weekly or Daily chart to plan their trades makes it seem a little unfair to critique them using said chart timeframes.

Just playing a little devils Advocate.
I will continue through the vids in order of date...