Never Lose Again

[prochargedmopar]

long trade M5 MOMO.
See big momo candle to lower left of screen?
Entry on pullback at 96
Out +20

hehehehe

[brettnchrism]

Missed the first momo got a few off the second hit my target anyways

[monolisa]

Well done, Pro! Keep up the good work

Remember not to let your trigger finger do the work. Let the chart tell you when to exit and stay disciplined.

Lis

[Patch]

monolisa
How did you develop your trading disciplines?
Patch

[monolisa]

Patch,

I think fear and greed are the key enemies of discipline. As such, being able to control my emotions, thru experience and understanding the dynamics and structure of the market, helps develop my discipline.

Having a solid trading plan (and stick to it) also helps me focus and stay disciplined.

Lis

[monolisa]

General matter about this thread:

Not sure if you have noticed but I got the following error msg when I loaded this thread.

Fatal error: Maximum execution time of 60 seconds exceeded in /httpd/html/kreslikcom/www/forums/includes/class_db.php on line 133

Just wonder if we should open a new thread "Never Lose Again II"?

Lis

[Patch]

monolisa

I've been having problems opening this thread for a week or 10 days. I now click on the page number in the middle of the page and get better results. If that doesn't work I open the next, previous page. It seems NLA is showing a new page before the first post has been added to it as near as I can firgure. jb

[es/pip]

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

welcome

you are going to need to read the thread to understand what we are doing and seeing--


it is well worth it

[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

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.

not sure i follow you

can you rephrase

"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."


i use h1-the monthly charts for my higher timeframes

btw

to post your charts

save the pic as something then go to tinypic.com and upload it then paste the img tag in the body of the message --- it is a lot easier and u do not have to crop anything

[es/pip]

monolisa
How did you develop your trading disciplines?
Patch

1 thing she has in her favor

---- she is female


females make better traders than males


its just a fact

always has been always will be

females think more like traders are supposed to think---- it is a psychological thing