Instead of ORIENTEERING the various TF's, I am starting to think ORIENTEERING the PA in different REVERSAL levels is the PATH to take...
P&F charts suck, don't use them...
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- PebbleTrader
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forexjpn wrote:This may help, this may not............it may even be wrong, but I'll share what I have discovered through my observation and maybe others can add or disagree or agree or whatever.
To me, the MOMO is not always the longest/biggest bar and a long/big bar is not always a MOMO per se..........
There are various possible entry points after a MOMO............
1)the high (wick extreme) of the previous bar
2)the close (body) of the previous bar
3)anywhere in the MZ
and
4)if the MOMO is very long, the high(wick extreme) closest to the
MOMO's close is also a very common case.
and a couple more, but those are the main ones for me.
I, myself, usually use the high of the previous bar or again if the MOMO is very long, the high closest to the close of the MOMO (which could be several bars away). When, the MOMO is very long, I tend to be more cautious and wait for price to show the way, whereas for smaller MOMO's and on smaller time frames I get in right when price touches my point.
Yes, sometimes after I enter at a higher entry point, prices goes further and tags a lower entry point and sometimes it goes even further and I get out at a loss, but the majority of the time it goes as planned and I'm more than happy with that. (mind you, because of this, I would never trade directly off HTF charts)
My next step is to be able to Ride or Die, meaning I don't exactly know where to exit for those big runs, but to be honest, I don't really 'need' to. I just would be nicer if I could. For now I simply ride my entries for 1 or 2 bars or blatantly obvious Z-lines and that brings in enough pips.
If anything isn't clear, let me know and I'll try again.
And to others, if anything I wrote is incorrect, please let me know.
Thnxnewscalper wrote:I'm really hopeless! Still scratching my head and puzzling with this
Now I know everyone looks to get wicked in on here and now MO is saying this but originally MO did not say this
Now either I don't understand or there's something else because if there was a singular method as put that was profitable there would be no need to keep changing it slightly or looking at it from different angles. It is either difinitive and 'works' or does not. End of...
Is no right or wrong, only +$ /-$, profit/loss(TRO). (or consequences)
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- bredin
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Couriouser and curiouser...
G.
G.
Welcome to the era of "Guns and Maskies" Trading!
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Insanity Industries Indicators Here
Insanity Industries on YouTube!
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Insanity Industries Indicators Here
Insanity Industries on YouTube!
- prochargedmopar
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Bredin,
Would you be willing/able to add a "show wicks" feature to this indicator for dchappy and I for back-testing purposes?
Thx
Would you be willing/able to add a "show wicks" feature to this indicator for dchappy and I for back-testing purposes?
Thx
- Attachments
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- RenkoLiveChart_v2.1.mq4
- RenkoLivechart_v2.1.mq4
- (9.2 KiB) Downloaded 221 times
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
forexjpn wrote:This may help, this may not............it may even be wrong, but I'll share what I have discovered through my observation and maybe others can add or disagree or agree or whatever.
. . . .
If anything isn't clear, let me know and I'll try again.
And to others, if anything I wrote is incorrect, please let me know.
Thnx
Perhaps you could go to es/pips z/l,pa thread and post some charts.
You never know MO may even take pity on us.
Using Z/L logic, to me a target is where a breakout trader (first entered the opposite move) and has not had is profit zeroed out.
As MO says, if you can see profit you can see loss.
As es/pip says, take your profit or I will take it from you.
Is price closing higher or lower than something? Simple yet powerful question. ..MO
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- PebbleTrader
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If you are not yet a consistent trader, you should be paper trading ONLY.
"But you can't feel the emotions of trading real money!"
"Yeah, but try that in a LIVE account and you won't be able to do it!"
NO MONEY is REAL MONEY, the numbers in your demo account are just as real as the money in your own account.
If you don't agree, then I suggest you change your BELIEFS...
You must learn to DEVALUE MONEY before you can make money.
If you are going to lose money, it makes the most sense (as in cents), to not lose your own money...
It is either your money or not your money.
IMHO
"But you can't feel the emotions of trading real money!"
"Yeah, but try that in a LIVE account and you won't be able to do it!"
NO MONEY is REAL MONEY, the numbers in your demo account are just as real as the money in your own account.
If you don't agree, then I suggest you change your BELIEFS...
You must learn to DEVALUE MONEY before you can make money.
If you are going to lose money, it makes the most sense (as in cents), to not lose your own money...
It is either your money or not your money.
IMHO
Life is just a journey
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