## The Weekly Crash Zone

If you don't know where to start, start here! Don't be afraid to ask questions.

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tmanbone
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es/pip wrote:lol

never mind

disregard

No go ahead post the chart for us please. I would but I've removed my MT4, had some bugs, I'm going to download another now.
"The simplicity of the markets is it's greatest disguise"

T

Thank you for your support.

prochargedmopar
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tmanbone wrote:
MightyOne wrote:
tmanbone wrote:
MightyOne wrote:

Mo,

Very interesting thread, I'm glad you started it. A couple of questions please sir. In the quoted diagram above are the two intermediate lines of the #1 candle the 66.6% and the 83.3% lines also above those are the two lines the 1.166% and the 1.333% lines. Thank you,

I have my fibo set to:

0.001

1.000

0.333

-0.333

0.1667

-0.1667

if that helps...
calculate your fibs to these settings

off of the candle you have marked (fibs off this) calculate the pips from high to low

take the measurement in pips, from the previous calculation, of off the low of the candle you have marked (place here for lower target) and draw a horizontal price line above the top, at this measurement.

pull your fibs calculated per above instructions and pull them from the bottom of the last candle on your chart to the horizontal price line.

the fibs are calculated to give your target 1 and target 2 ranges.

EDIT: Disregard the above instruction, after furter review, I've realized it's incorrect. The calculations should be taken off of the middle sized 3 candles previous to the current candle. That would be 3rd candle back from the right, then apply the calculations to the last candle. I know I just made it more confusing, I confused myself on that one.

My assumption is that the market is open......so the candle marked would be the mid size of the previous three, right?
Meaning, we have an Illusory candle forming that is NOT pictured.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!

tmanbone
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prochargedmopar wrote:
tmanbone wrote:
MightyOne wrote:
tmanbone wrote:
MightyOne wrote:

Mo,

Very interesting thread, I'm glad you started it. A couple of questions please sir. In the quoted diagram above are the two intermediate lines of the #1 candle the 66.6% and the 83.3% lines also above those are the two lines the 1.166% and the 1.333% lines. Thank you,

I have my fibo set to:

0.001

1.000

0.333

-0.333

0.1667

-0.1667

if that helps...
calculate your fibs to these settings

off of the candle you have marked (fibs off this) calculate the pips from high to low

take the measurement in pips, from the previous calculation, of off the low of the candle you have marked (place here for lower target) and draw a horizontal price line above the top, at this measurement.

pull your fibs calculated per above instructions and pull them from the bottom of the last candle on your chart to the horizontal price line.

the fibs are calculated to give your target 1 and target 2 ranges.

EDIT: Disregard the above instruction, after furter review, I've realized it's incorrect. The calculations should be taken off of the middle sized 3 candles previous to the current candle. That would be 3rd candle back from the right, then apply the calculations to the last candle. I know I just made it more confusing, I confused myself on that one.

My assumption is that the market is open......so the candle marked would be the mid size of the previous three, right?
Meaning, we have an Illusory candle forming that is NOT pictured.

http://kreslik.com/forums/viewtopic.php ... sc&start=0

See above link post #2. All your answers are in post #2

Mid sized of the previous 3 less the current, then applied to the current.

Read post two and work through it, all the answers are there.
"The simplicity of the markets is it's greatest disguise"

T

prochargedmopar
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M.O.

Do you look at the fundamentals to help in your decision making processes when planning things like going long on A/J for the last year or shorting G/U for the last few month's?

Things like interest rate spreads.
Carry trades and times of Risk aversion.
Correlations with large markets and how it effects the \$ and Yen.
Ect. Ect.

This g/u monthly chart looks pretty self explanatory.
I mean, prev support becomes resistance, Momo down at a "key" level, retest of high and then DROP.......

Or are you "just" a chartist and what would you recommend for a 1yr veteran?
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!

MightyOne
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prochargedmopar wrote:M.O.

Do you look at the fundamentals to help in your decision making processes when planning things like going long on A/J for the last year or shorting G/U for the last few month's?

Things like interest rate spreads.
Carry trades and times of Risk aversion.
Correlations with large markets and how it effects the \$ and Yen.
Ect. Ect.

This g/u monthly chart looks pretty self explanatory.
I mean, prev support becomes resistance, Momo down at a "key" level, retest of high and then DROP.......

Or are you "just" a chartist and what would you recommend for a 1yr veteran?

I recommend that you use just enough leverage, time, and energy to achieve your goals and no more.

PRO, I know that you can make money, your problem is not education.

Some things I have seen among my friends are:

1. They would shut down as soon as the money became significant because they believed that they shouldn't be making that much money.

Example:

Friend made \$52,000/yr at a job and had a \$40,000+ account and completely shut down for fear of losing it.
The only thing I could suggest in this situation is to either get over it or keep withdrawing 1/2 until you can trade fearlessly again.

I remember my father walking up to me with a pale face (he was my partner at the time) and I asked him what was wrong. He told me that we were down over \$280,000 and I replied with "you scared me, I thought that something was wrong." Some people cannot get over the dollar signs.

2. They lose confidence after a losing streak of ANY duration.

You cannot win every time nor can you expect to. I win a freeking lot, but most certainly not every time and even lose 2 in a row here and there.

You just have to believe that you can and should win and that your losing streak is not indicative of your skill as a trader; it is just an act of God err what have you.

3. They are not drinkers and thus are condemned to over thinking, stress, and subdued creativity

I tell my friends (mostly when I don't feel like chatting):

If you can SEE it then you can DO IT and if you DO IT then you will HAVE IT

Thank you for your support.

jarnapal
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MightyOne wrote:
prochargedmopar wrote:M.O.

Do you look at the fundamentals to help in your decision making processes when planning things like going long on A/J for the last year or shorting G/U for the last few month's?

Things like interest rate spreads.
Carry trades and times of Risk aversion.
Correlations with large markets and how it effects the \$ and Yen.
Ect. Ect.

This g/u monthly chart looks pretty self explanatory.
I mean, prev support becomes resistance, Momo down at a "key" level, retest of high and then DROP.......

Or are you "just" a chartist and what would you recommend for a 1yr veteran?

I recommend that you use just enough leverage, time, and energy to achieve your goals and no more.

PRO, I know that you can make money, your problem is not education.

Some things I have seen among my friends are:

1. They would shut down as soon as the money became significant because they believed that they shouldn't be making that much money.

Example:

Friend made \$52,000/yr at a job and had a \$40,000+ account and completely shut down for fear of losing it.
The only thing I could suggest in this situation is to either get over it or keep withdrawing 1/2 until you can trade fearlessly again.

I remember my father walking up to me with a pale face (he was my partner at the time) and I asked him what was wrong. He told me that we were down over \$280,000 and I replied with "you scared me, I thought that something was wrong." Some people cannot get over the dollar signs.

2. They lose confidence after a losing streak of ANY duration.

You cannot win every time nor can you expect to. I win a freeking lot, but most certainly not every time and even lose 2 in a row here and there.

You just have to believe that you can and should win and that your losing streak is not indicative of your skill as a trader; it is just an act of God err what have you.

3. They are not drinkers and thus are condemned to over thinking, stress, and subdued creativity

I tell my friends (mostly when I don't feel like chatting):

If you can SEE it then you can DO IT and if you DO IT then you will HAVE IT

The fear of losing the money and shutting down the account could be because when you earn on forex it sometimes feels like you are robbing it from someone and if you are so good at it, some one will get you!:)

Do you drink while you trade or you drink after you have made your day ? LOL! ( Question is serious )

MightyOne
rank: 5000+ posts
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Joined: Wed Dec 10, 2008 6:33 pm
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jarnapal wrote:
MightyOne wrote:
prochargedmopar wrote:M.O.

Do you look at the fundamentals to help in your decision making processes when planning things like going long on A/J for the last year or shorting G/U for the last few month's?

Things like interest rate spreads.
Carry trades and times of Risk aversion.
Correlations with large markets and how it effects the \$ and Yen.
Ect. Ect.

This g/u monthly chart looks pretty self explanatory.
I mean, prev support becomes resistance, Momo down at a "key" level, retest of high and then DROP.......

Or are you "just" a chartist and what would you recommend for a 1yr veteran?

I recommend that you use just enough leverage, time, and energy to achieve your goals and no more.

PRO, I know that you can make money, your problem is not education.

Some things I have seen among my friends are:

1. They would shut down as soon as the money became significant because they believed that they shouldn't be making that much money.

Example:

Friend made \$52,000/yr at a job and had a \$40,000+ account and completely shut down for fear of losing it.
The only thing I could suggest in this situation is to either get over it or keep withdrawing 1/2 until you can trade fearlessly again.

I remember my father walking up to me with a pale face (he was my partner at the time) and I asked him what was wrong. He told me that we were down over \$280,000 and I replied with "you scared me, I thought that something was wrong." Some people cannot get over the dollar signs.

2. They lose confidence after a losing streak of ANY duration.

You cannot win every time nor can you expect to. I win a freeking lot, but most certainly not every time and even lose 2 in a row here and there.

You just have to believe that you can and should win and that your losing streak is not indicative of your skill as a trader; it is just an act of God err what have you.

3. They are not drinkers and thus are condemned to over thinking, stress, and subdued creativity

I tell my friends (mostly when I don't feel like chatting):

If you can SEE it then you can DO IT and if you DO IT then you will HAVE IT

The fear of losing the money and shutting down the account could be because when you earn on forex it sometimes feels like you are robbing it from someone and if you are so good at it, some one will get you!:)

Do you drink while you trade or you drink after you have made your day ? LOL! ( Question is serious )

First I will define "drinking" as drinking "big beers" aka micro brews:

http://www.kbrewery.com/

http://www.bellsbeer.com/#

http://www.foundersbrewing.com/

NOT that piss water that Budweiser and Miller like to call a beer.

Wine is fine, I will have a bottle of wine and hardly notice intoxication (I am almost done with a bottle of wine as I type this).

LIQUOR and trading are the only things that do not mix! Last time I had liquor I filled a 12oz glass with a 30 year old scotch and I was not so willing to move after a few hours.

To answer your question, YES I DO drink and trade at the same time.

I believe that I am more relaxed and not so quick (duh) to rush into anything. I do a lot more thinking and what I already know doesn't ever seem to get in the way of new revelations.

In my mind drinking IS AN EDGE

To other people drinking might be a reason to go to bed.

dragon33
rank: 500+ posts
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MightyOne wrote:
jarnapal wrote:
MightyOne wrote:
prochargedmopar wrote:M.O.

Do you look at the fundamentals to help in your decision making processes when planning things like going long on A/J for the last year or shorting G/U for the last few month's?

Things like interest rate spreads.
Carry trades and times of Risk aversion.
Correlations with large markets and how it effects the \$ and Yen.
Ect. Ect.

This g/u monthly chart looks pretty self explanatory.
I mean, prev support becomes resistance, Momo down at a "key" level, retest of high and then DROP.......

Or are you "just" a chartist and what would you recommend for a 1yr veteran?

I recommend that you use just enough leverage, time, and energy to achieve your goals and no more.

PRO, I know that you can make money, your problem is not education.

Some things I have seen among my friends are:

1. They would shut down as soon as the money became significant because they believed that they shouldn't be making that much money.

Example:

Friend made \$52,000/yr at a job and had a \$40,000+ account and completely shut down for fear of losing it.
The only thing I could suggest in this situation is to either get over it or keep withdrawing 1/2 until you can trade fearlessly again.

I remember my father walking up to me with a pale face (he was my partner at the time) and I asked him what was wrong. He told me that we were down over \$280,000 and I replied with "you scared me, I thought that something was wrong." Some people cannot get over the dollar signs.

2. They lose confidence after a losing streak of ANY duration.

You cannot win every time nor can you expect to. I win a freeking lot, but most certainly not every time and even lose 2 in a row here and there.

You just have to believe that you can and should win and that your losing streak is not indicative of your skill as a trader; it is just an act of God err what have you.

3. They are not drinkers and thus are condemned to over thinking, stress, and subdued creativity

I tell my friends (mostly when I don't feel like chatting):

If you can SEE it then you can DO IT and if you DO IT then you will HAVE IT

The fear of losing the money and shutting down the account could be because when you earn on forex it sometimes feels like you are robbing it from someone and if you are so good at it, some one will get you!:)

Do you drink while you trade or you drink after you have made your day ? LOL! ( Question is serious )

First I will define "drinking" as drinking "big beers" aka micro brews:

http://www.kbrewery.com/

http://www.bellsbeer.com/#

http://www.foundersbrewing.com/

NOT that piss water that Budweiser and Miller like to call a beer.

Wine is fine, I will have a bottle of wine and hardly notice intoxication (I am almost done with a bottle of wine as I type this).

LIQUOR and trading are the only things that do not mix! Last time I had liquor I filled a 12oz glass with a 30 year old scotch and I was not so willing to move after a few hours.

To answer your question, YES I DO drink and trade at the same time.

I believe that I am more relaxed and not so quick (duh) to rush into anything. I do a lot more thinking and what I already know doesn't ever seem to get in the way of new revelations.

In my mind drinking IS AN EDGE

To other people drinking might be a reason to go to bed.

You should come over to Belgium after all we have the best beer in the world
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

PTG
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dragon33 wrote:
MightyOne wrote:
jarnapal wrote:
MightyOne wrote:
prochargedmopar wrote:M.O.

Do you look at the fundamentals to help in your decision making processes when planning things like going long on A/J for the last year or shorting G/U for the last few month's?

Things like interest rate spreads.
Carry trades and times of Risk aversion.
Correlations with large markets and how it effects the \$ and Yen.
Ect. Ect.

This g/u monthly chart looks pretty self explanatory.
I mean, prev support becomes resistance, Momo down at a "key" level, retest of high and then DROP.......

Or are you "just" a chartist and what would you recommend for a 1yr veteran?

I recommend that you use just enough leverage, time, and energy to achieve your goals and no more.

PRO, I know that you can make money, your problem is not education.

Some things I have seen among my friends are:

1. They would shut down as soon as the money became significant because they believed that they shouldn't be making that much money.

Example:

Friend made \$52,000/yr at a job and had a \$40,000+ account and completely shut down for fear of losing it.
The only thing I could suggest in this situation is to either get over it or keep withdrawing 1/2 until you can trade fearlessly again.

I remember my father walking up to me with a pale face (he was my partner at the time) and I asked him what was wrong. He told me that we were down over \$280,000 and I replied with "you scared me, I thought that something was wrong." Some people cannot get over the dollar signs.

2. They lose confidence after a losing streak of ANY duration.

You cannot win every time nor can you expect to. I win a freeking lot, but most certainly not every time and even lose 2 in a row here and there.

You just have to believe that you can and should win and that your losing streak is not indicative of your skill as a trader; it is just an act of God err what have you.

3. They are not drinkers and thus are condemned to over thinking, stress, and subdued creativity

I tell my friends (mostly when I don't feel like chatting):

If you can SEE it then you can DO IT and if you DO IT then you will HAVE IT

The fear of losing the money and shutting down the account could be because when you earn on forex it sometimes feels like you are robbing it from someone and if you are so good at it, some one will get you!:)

Do you drink while you trade or you drink after you have made your day ? LOL! ( Question is serious )

First I will define "drinking" as drinking "big beers" aka micro brews:

http://www.kbrewery.com/

http://www.bellsbeer.com/#

http://www.foundersbrewing.com/

NOT that piss water that Budweiser and Miller like to call a beer.

Wine is fine, I will have a bottle of wine and hardly notice intoxication (I am almost done with a bottle of wine as I type this).

LIQUOR and trading are the only things that do not mix! Last time I had liquor I filled a 12oz glass with a 30 year old scotch and I was not so willing to move after a few hours.

To answer your question, YES I DO drink and trade at the same time.

I believe that I am more relaxed and not so quick (duh) to rush into anything. I do a lot more thinking and what I already know doesn't ever seem to get in the way of new revelations.

In my mind drinking IS AN EDGE

To other people drinking might be a reason to go to bed.

You should come over to Belgium after all we have the best beer in the world

The humor is not too bad either: http://rapidshare.com/files/371226997/t ... 1.avi.html

Patch
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dragon33

What is your favourite beer?

What's mine you ask? Coors Light. My son tells me it is "candy ass beer". Oh the young have so much to learn.

Patch
InVA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO