TygerKrane's Pip-Pickpocketing

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

Moderator: moderators

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Thu Jul 01, 2010 12:56 pm

MightyOne wrote:"...if you want to do something that will pay off, more than any college degree, credential, accreditation or license, sit down with a set of charts and find as many 50% retracements -large & small- as you can. The reward will be the necessary confidence in your charts." -Ken Roberts


When I started trading futures, I didn't know my left hand from my right hand as far a technical analysis is concerned.

I didn't have guru bottom picking skills but I sure could count a 1-2-3 formation; I spent two years paper trading ( age 16-18 ) 1-2-3's, H&S, narrow sideways channels, & 50% levels.

The only question in my mind was how to survive long enough to make it to the 50%.

When I started trading live, the 50% level didn't magically stop working & I made tens of thousands of dollars from a $2,000 account.

This is where price is going ---> to the 50% level, and I will be there.

This is where price is going ---> to Cash Zone Area 1, and I will be there.

Price will try to knock me out before the move, but I will remain.

The chart can test my resolve, I will be there.

Image


Big Chart 50% with some daily Fat Cats. BTW did I miss what "Fat CAt" means?
Attachments
aliasjuly1.gif
aliasjuly1.gif (18.03 KiB) Viewed 324 times
Trade Your Way as Long as It Makes Money!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Thu Jul 01, 2010 2:12 pm

aliassmith wrote:
MightyOne wrote:"...if you want to do something that will pay off, more than any college degree, credential, accreditation or license, sit down with a set of charts and find as many 50% retracements -large & small- as you can. The reward will be the necessary confidence in your charts." -Ken Roberts


When I started trading futures, I didn't know my left hand from my right hand as far a technical analysis is concerned.

I didn't have guru bottom picking skills but I sure could count a 1-2-3 formation; I spent two years paper trading ( age 16-18 ) 1-2-3's, H&S, narrow sideways channels, & 50% levels.

The only question in my mind was how to survive long enough to make it to the 50%.

When I started trading live, the 50% level didn't magically stop working & I made tens of thousands of dollars from a $2,000 account.

This is where price is going ---> to the 50% level, and I will be there.

This is where price is going ---> to Cash Zone Area 1, and I will be there.

Price will try to knock me out before the move, but I will remain.

The chart can test my resolve, I will be there.

Image


Big Chart 50% with some daily Fat Cats. BTW did I miss what "Fat CAt" means?



It is just a cute name for S&R generated by custom candles.

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Thu Jul 01, 2010 2:53 pm

MightyOne wrote:
aliassmith wrote:
MightyOne wrote:"...if you want to do something that will pay off, more than any college degree, credential, accreditation or license, sit down with a set of charts and find as many 50% retracements -large & small- as you can. The reward will be the necessary confidence in your charts." -Ken Roberts


When I started trading futures, I didn't know my left hand from my right hand as far a technical analysis is concerned.

I didn't have guru bottom picking skills but I sure could count a 1-2-3 formation; I spent two years paper trading ( age 16-18 ) 1-2-3's, H&S, narrow sideways channels, & 50% levels.

The only question in my mind was how to survive long enough to make it to the 50%.

When I started trading live, the 50% level didn't magically stop working & I made tens of thousands of dollars from a $2,000 account.

This is where price is going ---> to the 50% level, and I will be there.

This is where price is going ---> to Cash Zone Area 1, and I will be there.

Price will try to knock me out before the move, but I will remain.

The chart can test my resolve, I will be there.

Image


Big Chart 50% with some daily Fat Cats. BTW did I miss what "Fat CAt" means?



It is just a cute name for S&R generated by custom candles.


I see. I thought maybe it had to do with the "fat Cats" aka "Big MOney"
that created the S/R on large timeframes. :D
Trade Your Way as Long as It Makes Money!

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Thu Jul 01, 2010 3:14 pm

Image

User avatar
newark18
rank: 500+ posts
rank: 500+ posts
Posts: 515
Joined: Thu Mar 11, 2010 3:32 am
Reputation: 0
Real name: James
Gender: Male

Postby newark18 » Thu Jul 01, 2010 4:11 pm

MightyOne wrote:Image


This chart would have been perfect for me a few hours ago. :)

Can you explain how that is a MZ? I don't see bullish momo on any TF. I do notice that this was almost exactly 50% retracement.
Failure is an opportunity to learn.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
newark18
rank: 500+ posts
rank: 500+ posts
Posts: 515
Joined: Thu Mar 11, 2010 3:32 am
Reputation: 0
Real name: James
Gender: Male

Postby newark18 » Thu Jul 01, 2010 4:23 pm

wow, 50% retracements everywhere once you try to find them
Failure is an opportunity to learn.

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Thu Jul 01, 2010 4:53 pm

newark18 wrote:wow, 50% retracements everywhere once you try to find them


Yes they are and it is an edge I use in my trading. I believe Dragon33
mentions 50% also, sorry I don't follow him so much. Not sure
exactly how he incorporates it.
Trade Your Way as Long as It Makes Money!

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sun Jul 04, 2010 12:02 pm

newark18 wrote:
MightyOne wrote:Image


This chart would have been perfect for me a few hours ago. :)

Can you explain how that is a MZ? I don't see bullish momo on any TF. I do notice that this was almost exactly 50% retracement.


A Mighty Zone is a swing around an equilibrium line where price crosses but is not expected to close beyond a horizontal line in a given period of time.

"I thought you said..." :x

User avatar
dragon33
rank: 500+ posts
rank: 500+ posts
Posts: 792
Joined: Thu Sep 18, 2008 2:41 pm
Reputation: 0
Gender: Male

Postby dragon33 » Sun Jul 04, 2010 8:07 pm

aliassmith wrote:
newark18 wrote:wow, 50% retracements everywhere once you try to find them


Yes they are and it is an edge I use in my trading. I believe Dragon33
mentions 50% also, sorry I don't follow him so much. Not sure
exactly how he incorporates it.


The 50% areas are everywhere on the charts. Starting with the body of an H1 candle. The retraces are also 50% and so on. When you start looking for them, yes they are everywhere on the chart and yes they are very important
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

LeeRain
rank: <50 posts
rank: <50 posts
Posts: 3
Joined: Mon Jul 05, 2010 12:12 pm
Reputation: 0
Gender: Male

Postby LeeRain » Mon Jul 05, 2010 12:24 pm

Tyger, those clean breakouts happen only a few times each week. I really try to catch them when I can because theres 0 drawdown and big profits...

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “beginners forum”