TygerKrane's Pip-Pickpocketing

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aliassmith
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Postby aliassmith » Thu Jul 01, 2010 12:56 pm

MightyOne wrote:"...if you want to do something that will pay off, more than any college degree, credential, accreditation or license, sit down with a set of charts and find as many 50% retracements -large & small- as you can. The reward will be the necessary confidence in your charts." -Ken Roberts


When I started trading futures, I didn't know my left hand from my right hand as far a technical analysis is concerned.

I didn't have guru bottom picking skills but I sure could count a 1-2-3 formation; I spent two years paper trading ( age 16-18 ) 1-2-3's, H&S, narrow sideways channels, & 50% levels.

The only question in my mind was how to survive long enough to make it to the 50%.

When I started trading live, the 50% level didn't magically stop working & I made tens of thousands of dollars from a $2,000 account.

This is where price is going ---> to the 50% level, and I will be there.

This is where price is going ---> to Cash Zone Area 1, and I will be there.

Price will try to knock me out before the move, but I will remain.

The chart can test my resolve, I will be there.

Image


Big Chart 50% with some daily Fat Cats. BTW did I miss what "Fat CAt" means?
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MightyOne
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Postby MightyOne » Thu Jul 01, 2010 2:12 pm

aliassmith wrote:
MightyOne wrote:"...if you want to do something that will pay off, more than any college degree, credential, accreditation or license, sit down with a set of charts and find as many 50% retracements -large & small- as you can. The reward will be the necessary confidence in your charts." -Ken Roberts


When I started trading futures, I didn't know my left hand from my right hand as far a technical analysis is concerned.

I didn't have guru bottom picking skills but I sure could count a 1-2-3 formation; I spent two years paper trading ( age 16-18 ) 1-2-3's, H&S, narrow sideways channels, & 50% levels.

The only question in my mind was how to survive long enough to make it to the 50%.

When I started trading live, the 50% level didn't magically stop working & I made tens of thousands of dollars from a $2,000 account.

This is where price is going ---> to the 50% level, and I will be there.

This is where price is going ---> to Cash Zone Area 1, and I will be there.

Price will try to knock me out before the move, but I will remain.

The chart can test my resolve, I will be there.

Image


Big Chart 50% with some daily Fat Cats. BTW did I miss what "Fat CAt" means?



It is just a cute name for S&R generated by custom candles.

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aliassmith
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Postby aliassmith » Thu Jul 01, 2010 2:53 pm

MightyOne wrote:
aliassmith wrote:
MightyOne wrote:"...if you want to do something that will pay off, more than any college degree, credential, accreditation or license, sit down with a set of charts and find as many 50% retracements -large & small- as you can. The reward will be the necessary confidence in your charts." -Ken Roberts


When I started trading futures, I didn't know my left hand from my right hand as far a technical analysis is concerned.

I didn't have guru bottom picking skills but I sure could count a 1-2-3 formation; I spent two years paper trading ( age 16-18 ) 1-2-3's, H&S, narrow sideways channels, & 50% levels.

The only question in my mind was how to survive long enough to make it to the 50%.

When I started trading live, the 50% level didn't magically stop working & I made tens of thousands of dollars from a $2,000 account.

This is where price is going ---> to the 50% level, and I will be there.

This is where price is going ---> to Cash Zone Area 1, and I will be there.

Price will try to knock me out before the move, but I will remain.

The chart can test my resolve, I will be there.

Image


Big Chart 50% with some daily Fat Cats. BTW did I miss what "Fat CAt" means?



It is just a cute name for S&R generated by custom candles.


I see. I thought maybe it had to do with the "fat Cats" aka "Big MOney"
that created the S/R on large timeframes. :D
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Postby MightyOne » Thu Jul 01, 2010 3:14 pm

Image

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Postby newark18 » Thu Jul 01, 2010 4:11 pm

MightyOne wrote:Image


This chart would have been perfect for me a few hours ago. :)

Can you explain how that is a MZ? I don't see bullish momo on any TF. I do notice that this was almost exactly 50% retracement.
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Postby newark18 » Thu Jul 01, 2010 4:23 pm

wow, 50% retracements everywhere once you try to find them
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Postby aliassmith » Thu Jul 01, 2010 4:53 pm

newark18 wrote:wow, 50% retracements everywhere once you try to find them


Yes they are and it is an edge I use in my trading. I believe Dragon33
mentions 50% also, sorry I don't follow him so much. Not sure
exactly how he incorporates it.
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Postby MightyOne » Sun Jul 04, 2010 12:02 pm

newark18 wrote:
MightyOne wrote:Image


This chart would have been perfect for me a few hours ago. :)

Can you explain how that is a MZ? I don't see bullish momo on any TF. I do notice that this was almost exactly 50% retracement.


A Mighty Zone is a swing around an equilibrium line where price crosses but is not expected to close beyond a horizontal line in a given period of time.

"I thought you said..." :x

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Postby dragon33 » Sun Jul 04, 2010 8:07 pm

aliassmith wrote:
newark18 wrote:wow, 50% retracements everywhere once you try to find them


Yes they are and it is an edge I use in my trading. I believe Dragon33
mentions 50% also, sorry I don't follow him so much. Not sure
exactly how he incorporates it.


The 50% areas are everywhere on the charts. Starting with the body of an H1 candle. The retraces are also 50% and so on. When you start looking for them, yes they are everywhere on the chart and yes they are very important
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Postby LeeRain » Mon Jul 05, 2010 12:24 pm

Tyger, those clean breakouts happen only a few times each week. I really try to catch them when I can because theres 0 drawdown and big profits...

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