Never Lose Again

[es/pip]

on hindsight the chart tells a formidable story, but real time i can see where cfabian is coming from, happens to me every other day also chart below

this is why it is discretionary you have to trade based on what the market is saying and not just on the zl or mz

i can see if one wanted to take a short trade there that it would not be wrong---and out at b/e or very small loss.

but what is happening in the background--what is the market saying where is the true long trade

h1----

we came down made a low--------- marked a

bounced --hardly made a lower low --------b

moved up more than the prev rally----c

came back into a zl and a h&s pattern-------d

i was not thinking short

that is where the long trade should have been and where i took it

[es/pip]

Actually I was about to close the trade at that white support line, but to be honest I didn't as down momo on higher TF was big, so didn't really think it would harm me that much.

So, when you see a formation like that, which could be a support area, will you still trade it, or wait to see how price reacts at it???? Meaning if price bounce up, you find another entry at better price at the time that ZL has been canceled clearing the way down, but if price breaks that support, you find another entry point, but with worse price?

""#$%!"#$

Really not fair.... I was in this trade, with +12, aiming for the price it is targeting now, moving down in consistent steps. Then my boss told me to go to his office. Oohhh boy... when will this stupid things end up????

H1 formation was good as well, but that freaking long kick stopped me out with a loss. Can you see a better entry, or a sort of explanation as to why should I have waited? Or any anticipation it would go up there?

for me

we have come down a long way if i was going to take that trade--- i did not, was trading the pound and euro---- i would be really conservative and be looking for a reason to get out due to how far we have come down.

its hard to say bec i was not watching it in real time so it is hindsight now


once support was found based on the white zl and we had an increase of momo off it i would most likely been out and looking for another entry-----arrow down--

yeah pretty much.

had all this p/a happened way up before the huge sell off i would have probably not been concerned with that 5 min bar and taken a stop on it. But since it came so far down, if i am going to attempt to trade it i am going to looking for ANY reason to tell me i may be wrong---close it and then get in at a worse or better price(if there is room to my target still) depending on the PA

[es/pip]

body in direction of profit wick in direction of loss

trade in the direction of profit

momo shows the way

if it does not happen on consecutive bars treat it like s/r and trade away from it

a mz is 2x previous bar 50%-- any line can be a zl in that area.


do not take this the wrong way, but have you read the entire thread and put what we have on our charts on yours?

again i may come of harsh or pissed at times but i am not. Its just how i am.

Its that straight line explaining that has helped me to see it, along with putting whats on your charts on mine.
Foreman, if you haven't read the entire thread, you're missing the heart of it all. It's a learning curve that you're NOT going to get by reading a PP presentation or small document.

and that's the truly ironic part of it. In the very beginning MO said all of the straight line comments---- over and over again. It is all there in the first part of where he starts talking about it.

I learned all of this from those comments and then put what he had on his charts on mine--- and the rest is history

not many other people saw it so i attempted to post a lot of charts and try to explain what cannot be explained in words-- for 8 months.

if you are not willing to study what he wrote and put his stuff on your charts then save yourself the time and look at something else. If you do not work at it and experience it for yourself you will never see it.

[Fxtraveller]

This is completely off topic, but....

Just to show you a chart, and possible consequences of not trading without a SL
(I lost over a 1000 pips worth 20% (which took 4 months to gain thorugh carry) of my live a/c, which took me right back at my initial capital).

The 20-year low is (WAS) approx. the red line

I counted on a massive rebounce... it didnt happen.

looking at the chart NOW, im happy I had the guts to withdraw my positions.
-------------------------------------------------------------------------

Ladies and gents, even an all time historic low/high is not an excuse to trade without a SL !
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Oh where oh where is the bottom? =]

[flinux]

More pips for me!!!
Z-Lines rocks.

[cfabian]

....... and I bet you quintupled your account this week right... your best week ever!!!!!!!!

i am honestly just beyond words at this point


"daddy" is all i got


these are going to be the last charts from me for awhile. Still be here posting but i am not going to flood it anymore with charts.

i am glad to see that some more people are able to see what MO has presented.

I hope that my charts helped some to see it. Again i do it a little different so i hope i didn't confuse anyone.

I truly believe that me showing how i do it helped my trading by giving back----- that's not why i did it---just a result of it.

if you don't get it by now i am not sure what else to say or show for that matter

[marypipins]

es/pip


I also would like to say thank you, I read your posts everyday and it has helped me greatly. I think I am almost there and can begin to see and that is because of you and many others. This way of trading is more of an art than a science, so each of us has to form it to the way we think and see things but I think all and all we are all on the same page.

By the way..stop drinking straight from the bottle..take some of your winnings and buy some nice glassware and an ice bucket, we may not be rich yet but we can start to get the feel of it..lol

Lisa

[es/pip]

....... and I bet you quintupled your account this week right... your best week ever!!!!!!!!

i am honestly just beyond words at this point


"daddy" is all i got


these are going to be the last charts from me for awhile. Still be here posting but i am not going to flood it anymore with charts.

i am glad to see that some more people are able to see what MO has presented.

I hope that my charts helped some to see it. Again i do it a little different so i hope i didn't confuse anyone.

I truly believe that me showing how i do it helped my trading by giving back----- that's not why i did it---just a result of it.

if you don't get it by now i am not sure what else to say or show for that matter

it was a massive week

[es/pip]

i did this earlier today

saw it on another forum

i have had pages load a lot faster

if it messes it up just change it back, i have not had any problems

this is for firefox

# Type "about :config" into the address bar and hit return. Scroll down and look for the following entries:

network.http.pipelining,
network.http.proxy.pipelining,
network.http.pipelining.maxrequests
# Normally the browser will make one request to a web page at a time. When you enable pipelining it will make several at once, which really speeds up page loading.
# Alter the entries as follows:
# Set "network.http.pipelining" to "true" by double-clicking it.
# Set "network.http.proxy.pipelining" to "true" by double-clicking it.
# Set "network.http.pipelining.maxrequests" to 8 by double-clicking it. This means it will make 8 requests at once. There is no point setting it higher then 8 as it is capped at 8 max. [The default value for this setting is 4]
# Lastly right-click anywhere and select New-> Integer. Name it "nglayout.initialpaint.delay" and set its value to "0". This value is the amount of time the browser waits before it acts on information it receives.
# If you're using a broadband connection you'll load pages MUCH faster now!

# If you have problems like slow down, pages not loading or images loading weird, just undo the tweaks in about :config
# You can also do this in the Internet explorer browser, In opera an alternative is: go to opera:config and go to performance. Then change the max number of connections to 32
# Firefox's slow loading could be due to the auto update. Disabling the auto-update feature could lead to improved loading time. For disabling update go to Tools--> options -->advanced --> Update and uncheck all the selections and click OK. (Make sure that you update manually at least once a week).

[foreman01]

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