Aliassmith Beats a "Dead Horse"

[aliassmith]

In an attempt to learn:

#1 is a zline trade entering when price came back, right? Any reason why you placed your stop there and not at the top of the previous candle?

#2 I don't know if that entry has a name but I guess it's a breakout of the low after that large pinbar.

#3 Rat entry. And reason why you took that one and not the one that happened 2 bars before?

#4 Another rat entry. But important question here: how did you decide to close that one with a 1/2 R? At the close over the SMA?

#5 zline long (formed by the blue momo bar after the swing low) when price retraced?

Seeing the chart with the entries helps.

1 zline (judgment through observation )
2 pinbar
3 not a rat
4 not a rat (not moving much, opposite momentum crossing sma)
5 zine
6 zline

For the zline entries, do you enter with limit orders at that level? Could be market orders as well, just wondering if there's anything else you look for when price is reaching that level or if you just take it regardless.

Its also about SL size . Sometimes close is close enough.

[aliassmith]

While letting my Fajitas digest, I'll post some food for thought.

Price does have a tendency to move certain ways. It pretty much is a function of everyone becoming a hive mine.
I can't tell every twist and turn 100%, but I can Identify enough tendencies to make cash.

The 20 SMA is showing a market tendency over certain data points. It could easily be some other bias using other/same data points.

My bias with the 20 SMA is to take long trades when the 20 SMA has a positive slope.
Also take short trades when the 20 SMA has a negative slope.
My indicator happens to be color coordinated to identify slope at a glance.
I like it but I don't need it.

There is also the Red, White, and Blue candles.
The Red candle shows that price is closing lower and expanding
The Blue candle shows that price is closing higher and expanding

The White candles also tell a story, these candles are non-expanding
They also have a part to play. Look in the pic and see where the little horizontal lines are over the white candles.
The ones that are marked are marked because the next candle breaks out in the direction of the 20 SMA bias.
I wonder if there is an edge knowing something like that?

Entry observations:
Zlines
Fair Value Gaps
LowerHigh, LowerHigh, HigherHigh
HigherLow, HigherLow, LowerLow
Penants
Flags
Previous Structure that creates Supply/Demand areas

Exit observations:
Previous Zlines
Previous Pointy Places
Previous Congestion (Think White Candles)
Previous Structure that creates Supply/Demand areas

I never had a name for any of this until my buddy Lem named it DeadHorse!

Note: I missed a white candle near the end on accident

[Jhx]

While letting my Fajitas digest, I'll post some food for thought.

Price does have a tendency to move certain ways. It pretty much is a function of everyone becoming a hive mine.
I can't tell every twist and turn 100%, but I can Identify enough tendencies to make cash.

The 20 SMA is showing a market tendency over certain data points. It could easily be some other bias using other/same data points.

My bias with the 20 SMA is to take long trades when the 20 SMA has a positive slope.
Also take short trades when the 20 SMA has a negative slope.
My indicator happens to be color coordinated to identify slope at a glance.
I like it but I don't need it.

There is also the Red, White, and Blue candles.
The Red candle shows that price is closing lower and expanding
The Blue candle shows that price is closing higher and expanding

The White candles also tell a story, these candles are non-expanding
They also have a part to play. Look in the pic and see where the little horizontal lines are over the white candles.
The ones that are marked are marked because the next candle breaks out in the direction of the 20 SMA bias.
I wonder if there is an edge knowing something like that?

Entry observations:
Zlines
Fair Value Gaps
LowerHigh, LowerHigh, HigherHigh
HigherLow, HigherLow, LowerLow
Penants
Flags
Previous Structure that creates Supply/Demand areas

Exit observations:
Previous Zlines
Previous Pointy Places
Previous Congestion (Think White Candles)
Previous Structure that creates Supply/Demand areas

I never had a name for any of this until my buddy Lem named it DeadHorse!

Note: I missed a white candle near the end on accident

This post was amazing (and very well formatted! ), will definitely keep studying this. Thanks alias!

[aliassmith]

This AUDJPY M5 is a money machine.
It moves almost all day, crazy.
I wonder why PRO has been keeping it a secret?

Spread + comm. Is about 1 pip on MFF.

I didnt mark my trades but if you are familiar with my work you'll know.

[aliassmith]

This is my current watchlist these days.
The last 3 are similar.
The cost is similar to FTMO and a little worst than The Prop Trading. Doesn't hurt to have an account at each place.

[Yirbu]

This is my current watchlist these days.
The last 3 are similar.
The cost is similar to FTMO and a little worst than The Prop Trading. Doesn't hurt to have an account at each place.

Oooo, you're up early/late...
Lost in the wrong time zone?

[aliassmith]

This is my current watchlist these days.
The last 3 are similar.
The cost is similar to FTMO and a little worst than The Prop Trading. Doesn't hurt to have an account at each place.

Oooo, you're up early/late...
Lost in the wrong time zone?

Ya my sleep isnt great and I trade different sessions.

[Yirbu]

Today I was trading however there were all kind of personal things I had to take care of during the day and now I have guests for diner so it was a busy day. In the end I was quite happy but there are some points of attention.

My first trade was a "let's try a Z-line entry" (which wasn't really a Z-line)
I wanted to enter at the color change of the candle after the big green candle but it slipped a bit.
When price hit 2R and it seemed to retrace I jumped out because price was at the previous low.
I figured +11 was a nice start of the day.

The second trade was a loss. I didn't feel comfortable with the trade in the fist place but decided to go on with it.
Took the loss.
Third trade we were above the sma however I figured price wasn't respecting the sma anyway and it was a perfectly good trade on the M15.
+13 (nearly 3R) was fine however I should have waited because I took the trade of the m15 and could expect a bigger move. Still a wee bit short of X3 is nice. This one of my learning points for the week; try to let trades run a bit longer.

My last trade was a mistake. I shorted the pinbar but somehow my finger twitched and hit the close button. Still got 3 pips but I wanted to go for the adr low. In retrospective I could have jumped back in when price came back up but I was still wondering what just happened.

I'm happy with my 21 pips as a start for the week. Let's see how the rest of the week will be.

220711 - EURUSDiM5.png (136.97 KiB) Viewed 1601 times

[Don_xyZ]

This is my current watchlist these days.
The last 3 are similar.
The cost is similar to FTMO and a little worst than The Prop Trading. Doesn't hurt to have an account at each place.

If I'm gonna do it, I'd go with MFF for their no restriction on trading style including news. It's a pain in the ass to keep track of news coz I don't really pay attention to them unless there's war news or really, really big crisis brewing. And also, I'm gonna go with NZDUSD or AUDUSD for the most bang due to the leverage restriction with MFF. Another option is US30. Get in big, get big move, get out big.

[aliassmith]

This is my current watchlist these days.
The last 3 are similar.
The cost is similar to FTMO and a little worst than The Prop Trading. Doesn't hurt to have an account at each place.

If I'm gonna do it, I'd go with MFF for their no restriction on trading style including news. It's a pain in the ass to keep track of news coz I don't really pay attention to them unless there's war news or really, really big crisis brewing. And also, I'm gonna go with NZDUSD or AUDUSD for the most bang due to the leverage restriction with MFF. Another option is US30. Get in big, get big move, get out big.

Biggest con to me is their $300,000 account limit. Being a scalper its hard to manage multiple accounts. Having all 3 as a swing trader is workable.