Never Lose Again

[MightyOne]

Anybody else take the m5 momo trade long??

long as well

little different reason

out at 134.05


we also had this h1 zl i was aware of--- wanted to get the h4 target ---

This is called The 10* ROT:

It is used when a channel is heading south and price breaks through the lower channel (vise versa).

[MightyOne]

Google Talk Conversation (1-4am EST I usually answer 1 on 1 requests):

Lucas: Heres one question I have about this. You group them as if they work together or something. Isnt this just 15 different angles? When I first tried the Diamond I just looked for one of the first 5 and found I could draw it in better just by sight. But that makes me think I missed something because you group them, can you shine some light on that? Thanks.


Sent at 3:49 AM on Tuesday
Mighty: Focusing on the difficult stuff again i see


Lucas: lol, Im also sitting here looking at your momentum pics as well trying to figure those out
just came up and thought I'd ask


Mighty: To answer your question...
with a question

ill do some true or false questions
a. the majority of the time the market travels at an angle of 75*


Lucas: false


Mighty: oh, so you are saying that the majority of the time you can eliminate certain angles from the list of future channel angles?
not a trick question


Lucas: certainly


Mighty: The trick is to think of the market as moving on one or two of five angles
15-30-45-60-75
of which 15 and 75 degrees are least likely
that means that a majority of the time price will channel between 30 and 60 degrees
there are related angles called sharps and flats
each main angle above has 1 sharp and 1 flat angle that is considered the main angle
25 and 35 degrees is considered a 30 degree angle
this is the 30* group
If you notice that price is following 30 degrees most of the time then it will either follow 25 and 30 or 30 and 35 degree angles
5 degrees is your margin of error
using this method you can some what predict what price will do in the future
thus fine tuning your trades


Lucas: thank you

[tradepar]

MO,

How do you select the first bar which is the starting point for drawing the angles?

Thanks

[brettnchrism]

Ive been scanning through blubb's zl indicators but can't seem to find one that alerts when a new momentum bar has been formed. Im looking just for one that alerts on hourly. I am missing it or maybe there isn't one?

Thanks,

Brett

[es/pip]

some from today






this one was riskier since it had moved up so much off the bottom

-20--- it ripped against me and stopped me out before giving me a chance to get a better price

[aliassmith]

Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%

This is how I build a position using the H1 charts

nice trade

what was the 1st entry at 1.6312 based on?

es/pips,

I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.

It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.

[es/pip]

Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%

This is how I build a position using the H1 charts

nice trade

what was the 1st entry at 1.6312 based on?

es/pips,

I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.

It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.

ok

i was just wondering why you would enter in the place that you did on the first one

there is not really a right or wrong---- i was just curious

thanks

[BlackPearl]

Hi guys, new to the board here and really enjoying it. I saw in a recent post a reference to an "MZ" level or something to that effect. Can someone explain what that is?

Thanks is advance, and...I'm looking forward to getting to know everyone.

BP

[prochargedmopar]

blubbb,
Please please add this feature (on close alert per brett) to your double alert indicator.
A signal when a double size bar is formed that will pop up Immediately on close of double candle......

Adeel noticed that when the h1 closes near the extreme 90% of the time you can enter Immediately as almost no wick/retrace is formed on the next candle.....

Also, PLEASE add a switch to allow for 5m double alerts also.....this would be a great feature for scalpers using multiple currencies....
This way others that trade different time frames could tun this feature on or off.

A scalpers dream......3 and flee. heheheheheeh
Thanks
Pro.

[aliassmith]

Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%

This is how I build a position using the H1 charts

nice trade

what was the 1st entry at 1.6312 based on?

es/pips,

I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.

It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.

ok

i was just wondering why you would enter in the place that you did on the first one

there is not really a right or wrong---- i was just curious

thanks

es/pips,

I am attaching another chart with a stage 1 and 2 position. If stage 3 was filled the order would have been worth 9.5%. Since stage 3 was not filled it was worth 3.3%.

How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method. Currently I only trust H1 since it is the highest timeframe that is the same for everyone in the world. Maybe I can work the lower timeframes, I'll have to research it.
ZL is at 1.6490 looks like I cut it off with my croping.