The ideas that I trade by:

[MightyOne]

Thanks - I see now...
Is the curly brace generated from a indicator or is it something you have drawn by hand?
Also the red dots with "1"and "2" Numbers and the red dotted circles??

The red circles areas seem to me like some accumulating areas with posibility for breakouts up or down!??

Here is the idea:

The only thing that you have to look for on a chart is patterns and breakouts.

When you mark a 1-2-3 and draw a horizontal line you are saying that one side of the line is the "pattern" and the other side of the line is the breakout; it doesn't matter what you name the pattern, it is simply the thing that is behind the breakout.

The curly brace simply says "hey, look at this price leg (or these price legs) it is not part of the pattern".

You can think of the ovals as "<insert your favorite pattern name here>"

The easiest way to find patterns is to trace breakouts back to their origin or use the closing prices of large charts.

If you squint, you will find smaller ovals and smaller "significant" breakouts that are useful for decoding smaller charts (remember what I said about closing prices?).

So how do you trade a pattern? Do you trade that price will breakout up and away or return to wipe out all profits? The choice is yours.

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[Mira]

Getting more zen with angles and H-Lines.

What is the difference between angles getting wider and angles getting closer? Are they traded in a different way?


Thank you MO for what you are sharing and for your patience, confidence is something I have never seen before I found your words.

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[aliassmith]

Depends on what you want to accomplish.
Income?
If you made 50%, withdraw it. Do it again.

Growth?
Increase your position size by no more than 50%. 10% - 25% would be prudent.

Your growth example is using OPM. No one said you have to get too crazy with it. Its as cautious or risky as you want.

Maybe we need an OPM HOUSE MONEY thread. My growth example is using MY MONEY. I refer to you the $100 bills in a bag post I made.

No there would be no point. I refer to you that I don't care anymore. I will concede that your view is the only correct one.

[Pjort]

Thanks - I see now...
Is the curly brace generated from a indicator or is it something you have drawn by hand?
Also the red dots with "1"and "2" Numbers and the red dotted circles??

The red circles areas seem to me like some accumulating areas with posibility for breakouts up or down!??

Here is the idea:

The only thing that you have to look for on a chart is patterns and breakouts.

When you mark a 1-2-3 and draw a horizontal line you are saying that one side of the line is the "pattern" and the other side of the line is the breakout; it doesn't matter what you name the pattern, it is simply the thing that is behind the breakout.

The curly brace simply says "hey, look at this price leg (or these price legs) it is not part of the pattern".

You can think of the ovals as "<insert your favorite pattern name here>"

The easiest way to find patterns is to trace breakouts back to their origin or use the closing prices of large charts.

If you squint, you will find smaller ovals and smaller "significant" breakouts that are useful for decoding smaller charts (remember what I said about closing prices?).

So how do you trade a pattern? Do you trade that price will breakout up and away or return to wipe out all profits? The choice is yours.

EURUSDMonthly.png

My trading style a greedy hopefull naive mix between your MightyOnes cones with scaling in when price goes my way (which quite often happends - but by some strange reason always retrace back and hit my stop) and DChappy´s linechart, trendbraking/following system... Ofcourse with a lot of sloppy atempt to play the 1-2-3 setup in the mix.

I have carefully read a book about Marketprofile which tells the story about market excesses over and over again. But also fact that a lot of acumulation/patterns happends. Actually the things you guys talk alot about in this forum is "the wicks should be traded in opossite direction" is one of the main point I saw i my market profile read.
The problem for me is how to examine the breakout realtime - go with the candle as a trend or wait for it to return - to often when you play for the return to happend it just move on and on and on... and then I have entered 5 times short and got stopped out every time. And when I change my bias "that wouw, this is a really long all day trend" and I go LONG with a big stop and maybe 2 euro per pip - BANG suddenly this a long short retrace back to the startingpoint(patternsarea/acummulationareas-whatever)

LOL just like I have seen gurus and other anoing youtube poster tell what happend as they speak over a chart running i 8 times speed full off hindsight knowledge...

Real life story is that my new establiched 1000 euro Ouanda account lost 600 euro in one day last friday - see chart attached...
I could write more but have to sleep tobe ready for work with my bare hands to earn my living and the 600 euro back... Thats also life...

Best from Pjort

PS. I found this old post with some very interesting chart examples from "VANE" that clarifies some off my uncertainty with this subject.
see: therumpledone/the-ideas-that-i-trade-by-t3256/page110

PPS. Offcouarse MO its proberly not your own need to read this post - and I apologize posting about my imature and foolish trading... Honestly...
Also I must say it is a big relief for me to have a place like this to confess my "defeat". How stupid it may sound I really dont like talking with my friends and wife about how I have thrown money out off the window. Though I am far from any kind off bankruptcy the 600 euro feels quite improber while it represent nearly one weeks work at my current profession.

[Mira]

I was blind so far.

IMG_1928.PNG (82.76 KiB) Viewed 3416 times

I was missing the cornerstone:

IMG_1927.PNG (85.59 KiB) Viewed 3416 times

Getting more zen with angles and H-Lines.

What is the difference between angles getting wider and angles getting closer? Are they traded in a different way?


Thank you MO for what you are sharing and for your patience, confidence is something I have never seen before I found your words.IMG_1926.PNG

[TheRumpledOne]

My trading style a greedy hopefull naive mix between your MightyOnes cones with scaling in when price goes my way (which quite often happends - but by some strange reason always retrace back and hit my stop) and DChappy´s linechart, trendbraking/following system... Ofcourse with a lot of sloppy atempt to play the 1-2-3 setup in the mix.

I have carefully read a book about Marketprofile which tells the story about market excesses over and over again. But also fact that a lot of acumulation/patterns happends. Actually the things you guys talk alot about in this forum is "the wicks should be traded in opossite direction" is one of the main point I saw i my market profile read.
The problem for me is how to examine the breakout realtime - go with the candle as a trend or wait for it to return - to often when you play for the return to happend it just move on and on and on... and then I have entered 5 times short and got stopped out every time. And when I change my bias "that wouw, this is a really long all day trend" and I go LONG with a big stop and maybe 2 euro per pip - BANG suddenly this a long short retrace back to the startingpoint(patternsarea/acummulationareas-whatever)

LOL just like I have seen gurus and other anoing youtube poster tell what happend as they speak over a chart running i 8 times speed full off hindsight knowledge...

Real life story is that my new establiched 1000 euro Ouanda account lost 600 euro in one day last friday - see chart attached...
I could write more but have to sleep tobe ready for work with my bare hands to earn my living and the 600 euro back... Thats also life...

Best from Pjort

PS. I found this old post with some very interesting chart examples from "VANE" that clarifies some off my uncertainty with this subject.
see: therumpledone/the-ideas-that-i-trade-by-t3256/page110

PPS. Offcouarse MO its proberly not your own need to read this post - and I apologize posting about my imature and foolish trading... Honestly...
Also I must say it is a big relief for me to have a place like this to confess my "defeat". How stupid it may sound I really dont like talking with my friends and wife about how I have thrown money out off the window. Though I am far from any kind off bankruptcy the 600 euro feels quite improber while it represent nearly one weeks work at my current profession.

Just trade the WICK ZONES:

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Price does not like to stay in WICK ZONES.

[MightyOne]

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[Mira]

SweetSpotsGOLD_EIGHTS.mq4

EURUSDH1.png

I feel good every time I see new stuff

[Mira]

Just showing (my view of) MO's teachings to some new member!

Shorted at the first red line (3 units)

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Added at the second red line (1 unit), target at the lower angle.. now I'm looking for a close over something.

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[MightyOne]

SweetSpotsGOLD_EIGHTS.mq4

EURUSDH1.png

I feel good every time I see new stuff

I am just working on a "student edition" version of EIGHTS
Salezy's indicator has a lot more bells and whistles.

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Pip counter that resets after the selected number of ticks:

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