Havnt done so well since Tue.
I started playing of 1hr candle instead of the 4hr setups.
Back to 4hrs for me...
Doji,
On the three charts where you showed 5min setup on a 4hr momo
I see you waited for it to hit 1hr momo
But do you wait for the 15min zline to form before you get in?
Then get in at the 5min...
and
What was your target..?
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- dojirock
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i always have a 4hr and 1 hr momo behind me then i can care less about waiting for 15 min zlines...if they are visible then take it..if not I drop to 5 min and look for zlines. My target is almost always another zline.
if your using 1hr candles instead of 4hr setups....then enter on 5min...
dojirock
if your using 1hr candles instead of 4hr setups....then enter on 5min...
dojirock
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
- dojirock
- rank: 1000+ posts
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mdsea and others,
when you have a perfect setup and a great trade....do your self a favor.....
mark it...then look at the chart very carefully....find another reason to take that trade....
i have been guilty of this...great trade mark it...well then i ask...why doesnt it work all the time? traders post there setups without a complete chart...they cant see what is telling them as a confirmation to take it or not because they are so focused on the current trend. They dont even look at the rest of the screen. Since we cant see the future....we must look at what?
when you can see this you will improve dramatically.
dojirock
when you have a perfect setup and a great trade....do your self a favor.....
mark it...then look at the chart very carefully....find another reason to take that trade....
i have been guilty of this...great trade mark it...well then i ask...why doesnt it work all the time? traders post there setups without a complete chart...they cant see what is telling them as a confirmation to take it or not because they are so focused on the current trend. They dont even look at the rest of the screen. Since we cant see the future....we must look at what?
when you can see this you will improve dramatically.
dojirock
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
When you say you have 4hr and 1hr momo behind you do you mean both have to be present at the time of your trade or do you take a 4hr momo without the 1hr momo behind it sometimes...
I find that having 4hr momo with 1hr zline or %50 areas of 1hr momo work best only after price returns to %50 of 4hr.
I think reading over the lukz thread clear things for me but at the middle and ending of thread it gets confusing on what everyone is trying to show....
I find that having 4hr momo with 1hr zline or %50 areas of 1hr momo work best only after price returns to %50 of 4hr.
I think reading over the lukz thread clear things for me but at the middle and ending of thread it gets confusing on what everyone is trying to show....
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Well,
Looking at the past gives you an idea where the traders entered.
Momo gives you idea also... a push was made by traders.
Once you see where they entered. It gives you an area of interest.
My area of interest are the zerolines.
In turn... It gives you an idea maybe where they will close out trades.
Because after holding on to their trade it reverses back to their entry.
Either they break even or closing out thinking the trade did not go there way.
In turn gives you a direction where price will go after they close out or exit trade.
The way you see traders start closing there trade is by watching what price does compared to what happened in the past.
If price closes above your areas of interest. It tells you traders are holding onto their trades until their sl is hit and new traders are trying to push the price up.
!!!!But if prices closes below areas of interest. 1. It tells you traders are getting out of trade. 2. Traders exiting trying to keep there profit. Masses are exiting out.
Which in turn gives you a idea that supply/demand will build the direction where everyone was going to in the first place
Well that was my attempt of explaining...
Looking at the past gives you an idea where the traders entered.
Momo gives you idea also... a push was made by traders.
Once you see where they entered. It gives you an area of interest.
My area of interest are the zerolines.
In turn... It gives you an idea maybe where they will close out trades.
Because after holding on to their trade it reverses back to their entry.
Either they break even or closing out thinking the trade did not go there way.
In turn gives you a direction where price will go after they close out or exit trade.
The way you see traders start closing there trade is by watching what price does compared to what happened in the past.
If price closes above your areas of interest. It tells you traders are holding onto their trades until their sl is hit and new traders are trying to push the price up.
!!!!But if prices closes below areas of interest. 1. It tells you traders are getting out of trade. 2. Traders exiting trying to keep there profit. Masses are exiting out.
Which in turn gives you a idea that supply/demand will build the direction where everyone was going to in the first place
Well that was my attempt of explaining...
- dojirock
- rank: 1000+ posts
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- Joined: Tue Nov 17, 2009 10:11 pm
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Yes!
Your on the right track...Now if you can apply this thinking...you should see a big change in your success rate. It really doesnt have anything to do with current momo and 50 percents. The way I see it...
I look forward to see if this helps you next week!
good job
dojirock
Your on the right track...Now if you can apply this thinking...you should see a big change in your success rate. It really doesnt have anything to do with current momo and 50 percents. The way I see it...
I look forward to see if this helps you next week!
good job
dojirock
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
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