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trueblueTEX
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Postby trueblueTEX » Wed Oct 13, 2010 8:38 pm

I'll save it for a later experiment, then.
Thanks

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Tresor
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Postby Tresor » Wed Oct 13, 2010 8:40 pm

eudamonia wrote:I'm sorry you don't SEE the use in having a horizontal line (simplicity).


Never said that I don't see use in having horizontal line.

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Postby Pro Trader » Wed Oct 13, 2010 10:13 pm

trueblueTEX wrote:I think I may take a day and try the single Horizontal line method/test just to get the experience.

You're supposed to always buy above the line and sell below it, correct?


I started placing horizontal lines at H1 OC's when Dragon suggested it in the zline thread.

I'm a red rat and I only place them at areas preceding a big drop.

I wait for price to return to the line and one of two things will happen:

1. It will close above
2. It will close below.

I wait for a wick of the line and take a red rat short. If price closes above I ignore it and wait for price to reach another line. Patience is key hear.

You don't need to sit at the pc all day though. I set price alerts at the price of my line so I can just check the pc when it's triggered.

I didn't think about it much at the time but I note each trade in my trade log and realised that they were all at daily+ extremes.

Essentially they are filtered rat trades. All start from within 20 pips of the daily high.

The horizontal line filters the rat trades and is how I use the lines.

This has been my most profitable form of trading thus far.

Just my 2 pence

The link below shows a few trades.

There are a few more on the next couple pages also

http://kreslik.com/forums/viewtopic.php ... start=4990

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trueblueTEX
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Postby trueblueTEX » Wed Oct 13, 2010 11:56 pm

Hmmmm, Pro, I've seen those charts but I didn't really know what you were doing. Since 2 pence (GBP) is greater than 2 cents (USD) I think I should pay attention to this.

1) How do you place the OC line?

2) And by "wick the line" do you mean you watch the candle hit the line and pullback? Or are you referring to AFTER the candle closes and there is a wick there? -- hence fails to close above (or below) the line.

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Postby Pro Trader » Thu Oct 14, 2010 12:21 am

trueblueTEX wrote:Hmmmm, Pro, I've seen those charts but I didn't really know what you were doing. Since 2 pence (GBP) is greater than 2 cents (USD) I think I should pay attention to this.

1) How do you place the OC line?

2) And by "wick the line" do you mean you watch the candle hit the line and pullback? Or are you referring to AFTER the candle closes and there is a wick there? -- hence fails to close above (or below) the line.


1) Dragon explains it here: http://kreslik.com/forums/viewtopic.php ... start=4720

They are just turning points. I consider OC lines from H1 and above. Often H1 and H4 match up. You can do it strictly from the H1 though.

I only enter based on 15m candles. 5m is too choppy for me. A 5m green candle may close below my line but the 15m close above invalidating my trade. I don't mind waiting the extra 10 mins for further confirmation.

I only place them at areas preceding a big drop as it gives an indication of where price could possibly go although as we all know anything can happen.

2) Just MO's principle of price closing or not closing over a line. I want price to close below my line (to go short). There will often be a wick if price is rejected from that area. I do like to see wicks going up as they show the direction of loss. MO once again. Then I take a 15m red rat.

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genlogins
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Thanks I just showing you my last trade

Postby genlogins » Sun Oct 17, 2010 9:23 pm

Ok guys, I just show you my last Friday, I think.

I got in, previous and got some 4.9 pips, than saw a fast candle, and when there is a fast candle, most of the times there is a retracement candle.

So, I whent in, I could let run for 10 pips, but my trigger finger was fast and got out with 7.3 pips = to ?73.


The only thing is that I cannot be happy as it was my Demo, and not the real account.

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genlogins
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Thanks I just showing you my last trade

Postby genlogins » Sun Oct 17, 2010 9:24 pm

Ok guys, I just show you my last Friday, I think.

I got in, previous and got some 4.9 pips, than saw a fast candle, and when there is a fast candle, most of the times there is a retracement candle.

So, I whent in, I could let run for 10 pips, but my trigger finger was fast and got out with 7.3 pips = to ?73.


The only thing is that I cannot be happy as it was my Demo, and not the real account.

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genlogins
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Thanks I just showing you my last trade

Postby genlogins » Sun Oct 17, 2010 9:26 pm

Ok guys, I just show you my last Friday, I think.

I got in, previous and got some 4.9 pips, than saw a fast candle, and when there is a fast candle, most of the times there is a retracement candle.

So, I whent in, I could let run for 10 pips, but my trigger finger was fast and got out with 7.3 pips = to ?73.


The only thing is that I cannot be happy as it was my Demo, and not the real account.

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genlogins
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Thanks I just showing you my last trade

Postby genlogins » Sun Oct 17, 2010 9:32 pm

I can't upload a picture.

I did upload picture, I did atachment, what else, it always give server error.

G
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retrace.gif (59.38 KiB) Viewed 194 times

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genlogins
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Postby genlogins » Sun Oct 17, 2010 9:34 pm

ops, finally
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The Way To Money Is Using Simplicity And Take Small Loses

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