Today's trade.... LOSS
PA, S/R, ZL, EXTREMES & MOMO
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cfabian if I may,
These guys don't leave the screen when there is money on the table, and let the S/L take them out of the trade. (ie the markets decide if it's a bad trade)
They have a "picture" of what the trade should look like if it's a good one. If the trade does not work out this way they exit. (ie the trade has to prove it's a good one)
From the memo bar you have arrowed, there is the wick in the right direction (which would have got me in) which then closed red. Ouch. Then an up bar but with no momo. Another ouch. Then a red bar. Ouch again
Remember the trade does not have to prove it's a bad one. If it doesn't prove it's a good one, get out. What I'm taking a long time to say is, if you look at it the right way, look how many chances you had to get out a B/E.
Actually, it would have been B/E for me, as I like to enter off the wick on candle colour. If you entered off the memo bar on your black line, you had a better price and the opportunity for a small profit.
These guys don't leave the screen when there is money on the table, and let the S/L take them out of the trade. (ie the markets decide if it's a bad trade)
They have a "picture" of what the trade should look like if it's a good one. If the trade does not work out this way they exit. (ie the trade has to prove it's a good one)
From the memo bar you have arrowed, there is the wick in the right direction (which would have got me in) which then closed red. Ouch. Then an up bar but with no momo. Another ouch. Then a red bar. Ouch again
Remember the trade does not have to prove it's a bad one. If it doesn't prove it's a good one, get out. What I'm taking a long time to say is, if you look at it the right way, look how many chances you had to get out a B/E.
Actually, it would have been B/E for me, as I like to enter off the wick on candle colour. If you entered off the memo bar on your black line, you had a better price and the opportunity for a small profit.
Is price closing higher or lower than something? Simple yet powerful question. ..MO
Humble wrote:cfabian if I may,
These guys don't leave the screen when there is money on the table, and let the S/L take them out of the trade. (ie the markets decide if it's a bad trade)
They have a "picture" of what the trade should look like if it's a good one. If the trade does not work out this way they exit. (ie the trade has to prove it's a good one)
From the memo bar you have arrowed, there is the wick in the right direction (which would have got me in) which then closed red. Ouch. Then an up bar but with no momo. Another ouch. Then a red bar. Ouch again
Remember the trade does not have to prove it's a bad one. If it doesn't prove it's a good one, get out. What I'm taking a long time to say is, if you look at it the right way, look how many chances you had to get out a B/E.
Actually, it would have been B/E for me, as I like to enter off the wick on candle colour. If you entered off the memo bar on your black line, you had a better price and the opportunity for a small profit.
Sure Humble, you can throw anything to my post. Thanks for that.
Actually yes I was about to close at little profit, but the reason not to was because I was trying to get a larger TF trade and not a scalp... the yellow line was a daily ZL, and we got all those wicks when close to the line, then the H1 momo to my direction... When I saw that red H4 with a long wick to the "direction of loss", I was pretending momo would start growing in my direction, but it didn't.
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"
- pablo101
- rank: 500+ posts
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cfabian, my opinion is that you were going against 'a' higher time, the downmove was on its way already.
[img][img]http://img855.imageshack.us/img855/6265/cfbh3.gif[/img] Uploaded with ImageShack.us[/img]
I also use 3CC on smaller TF to see failed extremes!
[img][img]http://img855.imageshack.us/img855/6265/cfbh3.gif[/img] Uploaded with ImageShack.us[/img]
I also use 3CC on smaller TF to see failed extremes!
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TygerKrane wrote:
Still re-hashing great ideas of years gone by, are we, yes??
Posted: Fri Aug 07, 2009ajaymein wrote:Hello everyone! Since the past few months, I have moved away from trading lower time frames and I rarely every look at anything lower then 4hr charts anymore...I am liking it a lot!
However, I wanted to make a post because recently, I have been looking at a ZL method on the Daily charts that has been looking good. Look at the charts below for some nice recent hits.
If you go back and look, you can see many more of the same occurrences. What I really like about them is that you can keep the SL fairly small compared to the gains if you put your SL a few pips below/above the 1st candle.
Wait a minute, you mean to tell me that market dynamics don't change over time, and that the market STILL only exists to zero out other traders
Ahhh nice pull! I remember the "good ole days" when I was just diving into all this ZL (supply/demand) stuff.
I evolved into a scalping machine and now when I see D1 reaching a ZL area, I start looking for entries on M5 and M15 for even higher percentage entries.
Went long again accidentally posted in wrong thread lol...
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and got out +12
Uploaded with ImageShack.us
and got out +12
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