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newscalper
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Postby newscalper » Sun Sep 23, 2012 5:21 pm

Great pic and trading there. One thing that has me puzzled and may be a part of the puzzle for me...B is momo? As opposed to A? C i see as momo but A? I suppose as compared to the 3 bars before making a doji it could be considered pace starting down but is it actually momo?

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Jalarupa
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Postby Jalarupa » Sun Sep 23, 2012 6:59 pm

PebbleTrader wrote:When I first listened to the audio book of Eckhart Tolle "Power Of Now", I had to pause it constantly as I was either taking notes or deeply thinking about what was just said...


Eckhart Tolle references the Bhagavad-Gita a lot in this book...

http://www.asitis.com/

http://ebooks.iskcondesiretree.info/pdf ... _It_Is.pdf

This text is a summary of all (ancient) Vedic Philosophy spoken by Krishna (God) Himself and it is full of transcendental wisdom and spiritual bliss...

The premise of the text is a conversation between Krishna and Arjuna (a powerful warrior) on the battlefield before going to war with his family members... (sounds similar to what traders face each day)

Arjuna is feeling attachment to his kin and can't bring himself to take the life of his great teachers and he then seeks the council of Krishna who unbeknown to him is the Supreme Almighty God (He later shows Arjuna His Universal Form).... The conversation starts off like this

Sanjaya said: Arjuna, having thus spoken on the battlefield, cast aside his
bow and arrows and sat down on the chariot, his mind overwhelmed with grief.

Sanjaya said: Seeing Arjuna full of compassion, his mind depressed, his eyes full of tears, Madhusüdana, Krsna, spoke the following words.

The Supreme Personality of Godhead said: My dear Arjuna, how have these impurities come upon you? They are not at all befitting a man who knows the value of life. They lead not to higher planets but to infamy.

O son of Prthä, do not yield to this degrading impotence. It does not become you. Give up such petty weakness of heart and arise, O chastiser of the enemy.

Arjuna said: O killer of enemies, O killer of Madhu, how can I counterattack with arrows in battle men like Bhima and Drona, who are
worthy of my worship?

It would be better to live in this world by begging than to live at the cost of
the lives of great souls who are my teachers. Even though desiring worldly gain, they are superiors. If they are killed, everything we enjoy will be tainted with blood.

Nor do we know which is better?conquering them or being conquered by
them. If we killed the sons of Dhitarastöra, we should not care to live. Yet they are now standing before us on the battlefield.

Now I am confused about my duty and have lost all composure because of
miserly weakness. In this condition I am asking You to tell me for certain what is best for me. Now I am Your disciple, and a soul surrendered unto You. Please instruct me.

I can find no means to drive away this grief which is drying up my senses. I will not be able to dispel it even if I win a prosperous, unrivaled kingdom on earth with sovereignty like the demigods in heaven.

Sanjaya said: Having spoken thus, Arjuna, chastiser of enemies, told Krsna, ?Govinda, I shall not fight,? and fell silent.

O descendant of Bharata, at that time Krsna, smiling, in the midst of both
the armies, spoke the following words to the grief-stricken Arjuna.

The Supreme Personality of Godhead said: While speaking learned words,
you are mourning for what is not worthy of grief. Those who are wise lament neither for the living nor for the dead.

Never was there a time when I did not exist, nor you, nor all these kings;
nor in the future shall any of us cease to be.

As the embodied soul continuously passes, in this body, from boyhood to
youth to old age, the soul similarly passes into another body at death. A sober person is not bewildered by such a change.

O son of Kunti, the nonpermanent appearance of happiness and distress, and their disappearance in due course, are like the appearance and disappearance of winter and summer seasons. They arise from sense perception, O scion of Bharata, and one must learn to tolerate them without being disturbed.

O best among men [Arjuna], the person who is not disturbed by happiness
and distress and is steady in both is certainly eligible for liberation.

Those who are seers of the truth have concluded that of the nonexistent [the material body] there is no endurance and of the eternal [the soul] there is no change. This they have concluded by studying the nature of both.

That which pervades the entire body you should know to be indestructible.
No one is able to destroy that imperishable soul.

The material body of the indestructible, immeasurable and eternal living
entity is sure to come to an end; therefore, fight, O descendant of Bharata.

Neither he who thinks the living entity the slayer nor he who thinks it slain
is in knowledge, for the self slays not nor is slain.

For the soul there is neither birth nor death at any time. He has not come
into being, does not come into being, and will not come into being. He is
unborn, eternal, ever-existing and primeval. He is not slain when the body is slain.

O Pärtha, how can a person who knows that the soul is indestructible,
eternal, unborn and immutable kill anyone or cause anyone to kill?

As a person puts on new garments, giving up old ones, the soul similarly
accepts new material bodies, giving up the old and useless ones.

The soul can never be cut to pieces by any weapon, nor burned by fire, nor moistened by water, nor withered by the wind.

This individual soul is unbreakable and insoluble, and can be neither burned nor dried. He is everlasting, present everywhere, unchangeable, immovable and eternally the same.

It is said that the soul is invisible, inconceivable and immutable. Knowing
this, you should not grieve for the body.

If, however, you think that the soul [or the symptoms of life] is always born and dies forever, you still have no reason to lament, O mighty-armed.

One who has taken his birth is sure to die, and after death one is sure to
take birth again. Therefore, in the unavoidable discharge of your duty, you should not lament.

- A simular story can be said for trading (not to trivialize this great piece of ancient authoritative wisdom which I encourage anyone and everyone to read). But we are all going into war as traders and there are sure to be losses along the way but if we are able to detach ourselves from these losses we can ultimately dispel all fear and grief. What you do with your winnings is then entirely up to you, but some guidance is also given in this book.

I often say that there are many paths towards spiritual realization just as water flows towards the ocean via many rivers and streams, the quality of the water stays the same as water is water, however water will always be purest at the source... ;-)
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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Postby dojirock » Mon Sep 24, 2012 5:34 am

newscalper wrote:Great pic and trading there. One thing that has me puzzled and may be a part of the puzzle for me...B is momo? As opposed to A? C i see as momo but A? I suppose as compared to the 3 bars before making a doji it could be considered pace starting down but is it actually momo?


Newscalper,

For a long time the definition of momo puzzled me. Mighty One originally stated, I believe, 2x the previous candle is momo. Well I took that literally and it puzzled me for a long time. I have reprogrammed my thought process to take momo as any area where price has stopped and then left. I read it as a story in my mind now as I trade. As you said you can see the combination of candles that made up the "a" mbar. After that period this is how I read them, the red one next to the #1 is where price stopped. #1 is more than 2x the previous, that one is pretty easy. The open of #1 is the zline and I think to myself, ok when that line gets broken, momentum has changed. So #1 is up, #2 then forms and breaks the open of#1, but is not 2x the size of the previous? But this is still momentum down to me, due to it engulfs the previous 2 candles. #3 closes up but doesnt break the open of#2 and there are no like colors to combine yet. Its like imagining #1 on top of #2, the green would not completely cover the red of #2 correct? So to me momentum is down. #4, made up of 3 candles, breaks the open of #2, doing a overlay you wouldnt even see #2, so to me no up momentum. #5 is simply a retrace into #4, price would have to close above the #4 before I would thing longs. 6-7 make up a down momentum. #8 is upward momentum but doesnt overpower the 6-7 downward momentum, then #9 does what?? It engulfs the previous 2 candles again! 9 and 10 break the 'a' zline...so now I know retrace then drop...

I have tried many ways in this thread to explain how I see, momo, momentum, mbars, from history trading, which is again looking to the past in relation to current price, waiting for the current price to overpower what has happened in the past. momo is more than 2x. It can be 2x, engulfing, railroad, morning star, these are all momo, or mbars to me. Its just a shift in power from buyers to sellers in which one of the two wins.

Hope this helps, I didnt mean to ramble.
:)
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"A small loss is just as satisfying as a large gain" -MO
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"Once you stack, you'll never go back!"

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Postby dojirock » Mon Sep 24, 2012 7:17 am

new week...yea...g/u
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"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!"

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Postby newscalper » Mon Sep 24, 2012 11:25 am

That helps quite a lot doji, thanks. The other thing that catches me out with that kind of approach is this, this may get a bit confused as I'm not referencing the pic while I write this...
We see A - momo up, therefore then from the m15 looking for supply areas within the momo to go long from yes? Are your 'rat' entries also taking the break of the high of a red candle in that instance? How do you define your exit criteria? The same (rate break in the opposite direction)?

The other thing is this - B momo forms down but long entries are being looked for BUT unless there's some criteria for no longer looking for longs while that B down momo forms you get smashed trying to go long during that period as the only momo evident at that point is A - are you seeing that supply area on the m15 and saying that once the smaller TF bars close over that area you're no longer looking for long trades?

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Postby Tony Montana » Mon Sep 24, 2012 6:06 pm

;) today

Image
While it may be true that 95-99% of Forex traders fail, 100% of Forex traders who never give up will succeed
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Postby dojirock » Tue Sep 25, 2012 1:10 am

[quote="newscalper"]That helps quite a lot doji, thanks. The other thing that catches me out with that kind of approach is this, this may get a bit confused as I'm not referencing the pic while I write this...
We see A - momo up, therefore then from the m15 looking for supply areas within the momo to go long from yes? Are your 'rat' entries also taking the break of the high of a red candle in that instance? How do you define your exit criteria? The same (rate break in the opposite direction)?

The other thing is this - B momo forms down but long entries are being looked for BUT unless there's some criteria for no longer looking for longs while that B down momo forms you get smashed trying to go long during that period as the only momo evident at that point is A - are you seeing that supply area on the m15 and saying that once the smaller TF bars close over that area you're no longer looking for long trades?[/quot]
[
The 15 min candles following the 'a' momo, yes I used the highs of the red candles also. If your referring to the 15 min candles within the 'a' momo like stated, I cant answer that due to I need to see what is left of that 'a' momo area. Defining my exit, I dont advise on exit methods in general, due to I take what I can get and dont give much back. When 1st starting Iwould trade long to the upper bb, then I realized the upper and lower bb's often pull the best levels(zlines)out of all the noise, and over time...just learned to see them. By learned to see them, in depth, I visualize the area from entry to swing and go for 1:1, 2:1 even though I dont mark it out...besides..my minimum goal is 20 pips a day..not hard...

Notes on the 'b' down momo. Your right...longs during the formation of the 'b' area you will have some losses and I do have some small losses. Keep in mind and try to visualize the swings on the 15 min chart as a higher time frame candle wick, there will be a point its apparent that even though on the 15 min chart, the swings will adventually put you above the ema on a 2, 4 or 8 hour chart, indicating...to look for shorts only also... the few losses I do get are on the turning points, and I have learned to wait for break of zline on 15 min to opposite side, like in the pic where the ????? are. then I feel better about reversing.

make sense?
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"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!"

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Postby Tony Montana » Tue Sep 25, 2012 4:12 pm

I enjoyed a lot this day ;)

First one (my spider sense help me to get out of this trade lol )

Image

and later

Image

Time to relax
While it may be true that 95-99% of Forex traders fail, 100% of Forex traders who never give up will succeed

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Postby dojirock » Tue Sep 25, 2012 5:37 pm

Great job tony, I slept thru those... lol
"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!"

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Postby bettlebox » Tue Sep 25, 2012 8:00 pm

Hi Doji

I like what you done really explains it all very nicely here todays price action on Eur/Usd. 2 nice trades and failed 15min rat trade which i got caught by as price was coming up off bottom in the morning and hitting the 4hr zline on down 4hr momo down. lol :D.

I think im getting it now.


BB
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