Aliassmith Psychology 101 and other stuff

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aliassmith
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Postby aliassmith » Fri May 07, 2010 1:08 pm

something important to think about.

X = body size considered to be non momentum
y = 2x
z = 3x
+ = body up
- = body down

+x, +y = candle in the direction of profit.

If +x, +y then -x, -z is needed to reverse.

If -x, -z then +x, +y to reverse.
If -x, -z, -x then +z to reverse.

+/-z always follows -/+x

Momentum pattern is as follows:

+x, +y, +x, +y, etc.

Reversing after +y is always -x, -z
Reversing after +x is always -z

-MIghtyOne NLA
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aliassmith
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Postby aliassmith » Fri May 07, 2010 1:48 pm

Worth repeating over and over again:

1. DO NOT SCALE DOWN
2. DO NOT MOVE STOPS TO BREAK EVEN
3. DO NOT USE TRAILING STOPS AS EXITS
4. DO NOT TRADE LIKE A COMPUTER
5. DO NOT FAIL TO TAKE THE TRADES YOU SEE
6. DO NOT CONSIDER YOUR ACCOUNT BALANCE 2B REAL MONEY.
- MightyOne NLA
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MightyOne
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Postby MightyOne » Fri May 07, 2010 6:53 pm

aliassmith wrote:something important to think about.

X = body size considered to be non momentum
y = 2x
z = 3x
+ = body up
- = body down

+x, +y = candle in the direction of profit.

If +x, +y then -x, -z is needed to reverse.

If -x, -z then +x, +y to reverse.
If -x, -z, -x then +z to reverse.

+/-z always follows -/+x

Momentum pattern is as follows:

+x, +y, +x, +y, etc.

Reversing after +y is always -x, -z
Reversing after +x is always -z

-MIghtyOne NLA


That picture is actually of a "Renko Like" Momentum Pattern.

Humble
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Postby Humble » Sat May 08, 2010 12:46 am

I guess a couple of us have been asking about the "z" memo of late.

Your chart was posted in response to a posters request for a summarised version of your teaching on memo, if I remember correctly. (With my memory I usually proceed with caution)

I had thought you chart was an early version of multiple bars (spatial intellect) which had not been introduced to our level of learning at that stage.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

aliassmith
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Postby aliassmith » Sun May 09, 2010 9:09 pm

MightyOne wrote:
aliassmith wrote:something important to think about.

X = body size considered to be non momentum
y = 2x
z = 3x
+ = body up
- = body down

+x, +y = candle in the direction of profit.

If +x, +y then -x, -z is needed to reverse.

If -x, -z then +x, +y to reverse.
If -x, -z, -x then +z to reverse.

+/-z always follows -/+x

Momentum pattern is as follows:

+x, +y, +x, +y, etc.

Reversing after +y is always -x, -z
Reversing after +x is always -z

-MIghtyOne NLA


That picture is actually of a "Renko Like" Momentum Pattern.


Looked like your X,Y pattern you expalined. Been reading your NLA posts
trying to find any caveats I may have missed. Think I have found a few. :wink:
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Postby aliassmith » Mon May 10, 2010 2:48 pm

Finally the internet is back, ATT uverse can be problemsome.
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Postby aliassmith » Wed May 12, 2010 1:06 pm

After doing a lot more studying and asking the chart for it's secrets,
I am left with range & correction running through my brain. Over
and over again.

MOMO on some timeframe is actually range depending on the angle
of the move.

WICKED IN is actually correction unless of course it becomes the
new range.

ENTRY is at 0 to 50% of the range at some form of Support/Resistance.
ie. zline on pegged timeframe, zline on smaller TF, Rat entry, ect. basically
looking to enter near where stops will push you in your direction

EXIT near exterme of MOMO/Range. Look for trouble spots at the extreme
and make the exit there.
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Postby scratty » Wed May 12, 2010 1:53 pm

Im thinking about the Point 2. DO NOT MOVE STOPS TO BE. This makes sence for me. What im wondering is what you guys think about moving stops to reduce risk. For example in a scale in situation: First SL is -20Pips after 30 Pips in Profit you double your position.If you would set the sl (for the second half) to the same point as with the first one you increase the risk.

Know what im doing (and thinking is a good thing to do) in this example is set new sl for whole position to 20Pips Risk to stay at this risk level. This means i move the stop.

Any thoughts, tipps or experiences of some of you about the issue?



aliassmith wrote:Worth repeating over and over again:

1. DO NOT SCALE DOWN
2. DO NOT MOVE STOPS TO BREAK EVEN
3. DO NOT USE TRAILING STOPS AS EXITS
4. DO NOT TRADE LIKE A COMPUTER
5. DO NOT FAIL TO TAKE THE TRADES YOU SEE
6. DO NOT CONSIDER YOUR ACCOUNT BALANCE 2B REAL MONEY.
- MightyOne NLA
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aliassmith
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Postby aliassmith » Wed May 12, 2010 2:18 pm

scratty wrote:Im thinking about the Point 2. DO NOT MOVE STOPS TO BE. This makes sence for me. What im wondering is what you guys think about moving stops to reduce risk. For example in a scale in situation: First SL is -20Pips after 30 Pips in Profit you double your position.If you would set the sl (for the second half) to the same point as with the first one you increase the risk.

Know what im doing (and thinking is a good thing to do) in this example is set new sl for whole position to 20Pips Risk to stay at this risk level. This means i move the stop.

Any thoughts, tipps or experiences of some of you about the issue?



aliassmith wrote:Worth repeating over and over again:

1. DO NOT SCALE DOWN
2. DO NOT MOVE STOPS TO BREAK EVEN
3. DO NOT USE TRAILING STOPS AS EXITS
4. DO NOT TRADE LIKE A COMPUTER
5. DO NOT FAIL TO TAKE THE TRADES YOU SEE
6. DO NOT CONSIDER YOUR ACCOUNT BALANCE 2B REAL MONEY.
- MightyOne NLA


When you average your lots in, I would think that you consider the most
recent S/R and plan for an exit if the 5minute candle close against that
area. So plan your overall risk based on that information, you are building
a position, not individual trades.

I believe MIghtyONe said the SL is set because he doesn't want to risk infinity so he sets it at the maximum risk and lets PA determine the rest.
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Postby gfg1 » Wed May 12, 2010 2:32 pm

Alias, fantastic display of detailing what was written in hundreds of pages of posts. TY for summarizing it on a chart.

aliassmith wrote:After doing a lot more studying and asking the chart for it's secrets,
I am left with range & correction running through my brain. Over
and over again.

MOMO on some timeframe is actually range depending on the angle
of the move.

WICKED IN is actually correction unless of course it becomes the
new range.

ENTRY is at 0 to 50% of the range at some form of Support/Resistance.
ie. zline on pegged timeframe, zline on smaller TF, Rat entry, ect. basically
looking to enter near where stops will push you in your direction

EXIT near exterme of MOMO/Range. Look for trouble spots at the extreme
and make the exit there.
Price closed over a line that you believed to be support and that is the first indication that something is WRONG-MO

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