Hangaround Lounge

everything that doesn't belong elsewhere cometh here

Moderator: moderators

User avatar
Braathen
rank: 500+ posts
rank: 500+ posts
Posts: 612
Joined: Mon Jul 20, 2009 6:21 pm
Reputation: 1
Location: Infront of the PC O_o
Gender: Male

Postby Braathen » Fri Aug 31, 2012 6:10 pm

Ok i see, very interresting.

I will be setting up some P&F charts over the weekend! I am very excited about the months to come :D

I have a few more questions but its friday night and im gonna go
get tossed, enjoy your weekend m8 and thanks for the link and all your help on this subject so far.
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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: 5248
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sat Sep 01, 2012 4:43 pm

There is no need to use P&F charts unless that is what you really want to do.

When price touches a 250 level then you can use that as an extreme instead of using a weekly+.
If price moves beyond the 250 then you can look to intercept price with space drawn from a +125.

I think that I am going to stick with candle charts for the foreseeable future:

7 minute, 28 minute, weekly, monthly.

I have been going back and forth on whether or not I should include the 28 minute chart as the monthly is not of great importance.

Image

User avatar
Braathen
rank: 500+ posts
rank: 500+ posts
Posts: 612
Joined: Mon Jul 20, 2009 6:21 pm
Reputation: 1
Location: Infront of the PC O_o
Gender: Male

Postby Braathen » Sat Sep 01, 2012 10:35 pm

Yes i got a bit overexcited as perusual and after thinking
it through i will be sticking with the weekly+ until i start
seeing more progress.

As for whether or not you should include the 28 min im not sure :D
The one thing that springs to mind is i like a chart around the
hourly size with 3x cc's.
I really like these for comparison and looking for price to reach.
I'd say a large CC (compared to recent past) is a good place to
look for a sexy extreme on the 7 min. But then again im sure u can
see this on the 7 min. So maybe 56min CC's? Just trying to help :P
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

User avatar
Braathen
rank: 500+ posts
rank: 500+ posts
Posts: 612
Joined: Mon Jul 20, 2009 6:21 pm
Reputation: 1
Location: Infront of the PC O_o
Gender: Male

Postby Braathen » Sat Sep 01, 2012 11:19 pm

So with this setup you have, im lead to believe
your only wanting to trade the current weekly extreme's.

My question (if this is what you do) is do you
trade before a weekly leg is made?

Example could be, last week a leg long was made and
price dropped in just above the 83.33% ret.
Price then made a nice swift (daily leg) into the 16.67% ret and
didnt go further, droping a bit and then week close.

Would you then be looking to buy weekly lows and try catch
the expansion/new leg?

Hope this isnt to off the wall.. been a long day and its very late.
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5248
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sun Sep 02, 2012 9:58 am

Weekly+ means to weekly and beyond!

Sorry, I had a Buzz Lightyear moment...
Image

This is how easy it is:

I) the chart that I am trading IS THE 7 MINUTE!

II) my position just happens to be the WEEKLY+ extreme
--->FOR EVERY TRADE<---

again?

I am looking to the 7 minute for the trade & I am looking to the weekly+ for position.

How is this done?

I) I draw my space from the extreme

II) I see a reason to enter on the 7 minute chart

III) I enter a limit order on one of the retracement lines or place
a market order for x lots prior to the breakout of said line.

Kewl, I'm in a trade...now what?

I) I look to take profit and reenter for more lots at a higher(?) price

II) I might trade to the higher(?) price for a better position or an even greater number of lots.

III) I keep the goal in mind: a LARGE position PRIOR to the weekly+ expansion.

There is no VooDoo, there are only 3 steps:

I) Position
II) Lot Size
III) Expansion

repeat until your eyes bleed.

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

User avatar
Braathen
rank: 500+ posts
rank: 500+ posts
Posts: 612
Joined: Mon Jul 20, 2009 6:21 pm
Reputation: 1
Location: Infront of the PC O_o
Gender: Male

Postby Braathen » Sun Sep 02, 2012 10:20 am

MightyOne wrote:Weekly+ means to weekly and beyond!

Sorry, I had a Buzz Lightyear moment...
Image

This is how easy it is:

I) the chart that I am trading IS THE 7 MINUTE!

II) my position just happens to be the WEEKLY+ extreme
--->FOR EVERY TRADE<---

again?

I am looking to the 7 minute for the trade & I am looking to the weekly+ for position.

How is this done?

I) I draw my space from the extreme

II) I see a reason to enter on the 7 minute chart

III) I enter a limit order on one of the retracement lines or place
a market order for x lots prior to the breakout of said line.

Kewl, I'm in a trade...now what?

I) I look to take profit and reenter for more lots at a higher(?) price

II) I might trade to the higher(?) price for a better position or an even greater number of lots.

III) I keep the goal in mind: a LARGE position PRIOR to the weekly+ expansion.

There is no VooDoo, there are only 3 steps:

I) Position
II) Lot Size
III) Expansion

repeat until your eyes bleed.


lol buzzlightyear moment.. made me laugh :D

Ok so, no more stupid qestions for the time being.
Goal is set to make eye's bleed.

Thanks again m8 :D
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Postby dojirock » Sun Sep 02, 2012 10:39 pm

My eyes are bleeding......but im not giving up!

dojirock

:)
"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!"

User avatar
Braathen
rank: 500+ posts
rank: 500+ posts
Posts: 612
Joined: Mon Jul 20, 2009 6:21 pm
Reputation: 1
Location: Infront of the PC O_o
Gender: Male

Postby Braathen » Mon Sep 03, 2012 6:57 am

dojirock wrote:My eyes are bleeding......but im not giving up!

dojirock

:)


haha doji :D i feel you man.. its a tough road.
I love pumping myself up with some of these youtube
motivaters. Keeps me keen and wanting more.. wanting to make
my success great so i can give back before i leave.

My favourite is this guy atm http://www.youtube.com/watch?v=Oy0Lj7Rk ... e=g-subs-u .. eric thomas.
Dude just explodes! :D

Greatness is upon you doji :D
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

User avatar
Braathen
rank: 500+ posts
rank: 500+ posts
Posts: 612
Joined: Mon Jul 20, 2009 6:21 pm
Reputation: 1
Location: Infront of the PC O_o
Gender: Male

Postby Braathen » Tue Sep 04, 2012 7:17 am

Ouch that pic was huge.. putting in quotes is kewl

Braathen wrote:First trade of the week.. thought id try kill it by posting it here
before its gone its merry way.

Image

Didnt get any longs so im trying to trade back into my range.
Oversized my position so its back over the current weekly high
so i have some extra space to play with.

Short is 3/9 at 1.2616. Target is a nice big spike down.
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

User avatar
Braathen
rank: 500+ posts
rank: 500+ posts
Posts: 612
Joined: Mon Jul 20, 2009 6:21 pm
Reputation: 1
Location: Infront of the PC O_o
Gender: Male

Postby Braathen » Tue Sep 04, 2012 12:54 pm

Ok so i basicly chickened out.
9 lots at 48 pips was to much to handle.. took all profit.
Hopefully i will get some range expansion tomorrow or later.
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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


Return to “general”