Thats easy to answer noone22, just ask MO. lol relax my brother, im workin on possible ways..and I believe it is soo easy that my mind purposely tries to complicate it...see most traders start drawing lines on a chart. they see angles but they are not "fit to scale". BUT once we do those calculations (that are easy but make my brain hurt), we then have "to scale angles". And If we know that price increases by 2 and decreases by .5 well thats where im stuck. What is all this telling me. Where is this leading me.. TO BE CONTINUED...
p.s.- let me know how your talk with MO goes lol.
Much respect,
Diesel
Dieselboy's Zlines
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The living are providing pointers. Many a times we, the living, are but a blip on the screen. We do what we can (or think we can), but cannot reach new highs/lows from a historical perspective. This humbles me. It's humble to be humble. I am. I have but limited clues and limited time to do something about it.
Maybe it's an idea to start talking to the dead. No. I'm not talking about Ronald Reagan.
W.D. Gann comes to mind. Good luck to all of us
Maybe it's an idea to start talking to the dead. No. I'm not talking about Ronald Reagan.
W.D. Gann comes to mind. Good luck to all of us
There's no business like [strike]show[/strike] covid19 business.
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MightyOne wrote:Google Talk Conversation (1-4am EST I usually answer 1 on 1 requests):
Lucas: Heres one question I have about this. You group them as if they work together or something. Isnt this just 15 different angles? When I first tried the Diamond I just looked for one of the first 5 and found I could draw it in better just by sight. But that makes me think I missed something because you group them, can you shine some light on that? Thanks.
Sent at 3:49 AM on Tuesday
Mighty: Focusing on the difficult stuff again i see
Lucas: lol, Im also sitting here looking at your momentum pics as well trying to figure those out
just came up and thought I'd ask
Mighty: To answer your question...
with a question
ill do some true or false questions
a. the majority of the time the market travels at an angle of 75*
Lucas: false
Mighty: oh, so you are saying that the majority of the time you can eliminate certain angles from the list of future channel angles?
not a trick question
Lucas: certainly
Mighty: The trick is to think of the market as moving on one or two of five angles
15-30-45-60-75
of which 15 and 75 degrees are least likely
that means that a majority of the time price will channel between 30 and 60 degrees
there are related angles called sharps and flats
each main angle above has 1 sharp and 1 flat angle that is considered the main angle
25 and 35 degrees is considered a 30 degree angle
this is the 30* group
If you notice that price is following 30 degrees most of the time then it will either follow 25 and 30 or 30 and 35 degree angles
5 degrees is your margin of error
using this method you can some what predict what price will do in the future
thus fine tuning your trades
Lucas: thank you
This has some damn good info..almost in laymans terms too!!
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Hi diesel Im really not one to tell anyone how to trade.. but basicly after reading the nla thread a few times.. searching for more info etc and ofc reading MO's micro thread has helped alot .. all MO's, es/pips and dragons pics etc..
If i was to try say what im doing it would go like this: 8H/6H charts for direction using 1/6th fibo as shown in MO's micro thread and i also mix some zlines into these charts (gotten some really good trades of the GU with 8H zline).. now mo just trades straight off the 1/6th i think but for some reason i just love the 5-15 and 25 min charts for momo like es/pip has shown many examples off. Ill trade straight of the bat too but i will be inclined to close on small retrace and get back in on momo or whatever happens.. im a wussy! and alot less profitable id guess but hey.. heres an example of a nice trade that i took friday on EJ. 5m chart with 25m overlap. They aint all this good thats for sure.. and i do have some losing runs but at the weekend it always works out
If i was to try say what im doing it would go like this: 8H/6H charts for direction using 1/6th fibo as shown in MO's micro thread and i also mix some zlines into these charts (gotten some really good trades of the GU with 8H zline).. now mo just trades straight off the 1/6th i think but for some reason i just love the 5-15 and 25 min charts for momo like es/pip has shown many examples off. Ill trade straight of the bat too but i will be inclined to close on small retrace and get back in on momo or whatever happens.. im a wussy! and alot less profitable id guess but hey.. heres an example of a nice trade that i took friday on EJ. 5m chart with 25m overlap. They aint all this good thats for sure.. and i do have some losing runs but at the weekend it always works out
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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Just so ya'll know I dont trade sundays.. And tomorrow I wont be posting zline trades because I will be picking my girlfriend up from the airport in NYC..
Much respect,
Diesel
p.s.- I wont be posting DoP stuff until I can continue, I feel like I have hit a brick wall with it. I just dont know "where" to begin drawing the angles.
WAIT!! If (for example) on a one hour chart.. the candle bar moves 20 pips..lets say I drew a diamond and after X bars, 15*=N pips and after the calculations 5*=20 pips could the next bar increase by 2 which would be 40 pips? or decrease by half which would be 10 pips (give or take)? Dang now im just confusing myself. No way thats way too complicated..nevermind..
see ya'll tuesday!
Much respect,
Diesel
p.s.- I wont be posting DoP stuff until I can continue, I feel like I have hit a brick wall with it. I just dont know "where" to begin drawing the angles.
WAIT!! If (for example) on a one hour chart.. the candle bar moves 20 pips..lets say I drew a diamond and after X bars, 15*=N pips and after the calculations 5*=20 pips could the next bar increase by 2 which would be 40 pips? or decrease by half which would be 10 pips (give or take)? Dang now im just confusing myself. No way thats way too complicated..nevermind..
see ya'll tuesday!
STAY HUNGRY
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