Aliassmith Psychology 101 and other stuff

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poipen
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Postby poipen » Fri May 21, 2010 10:27 pm

TygerKrane wrote:BTW, you post up some pretty impressive charts in the zline thread as well. I've mainly been learning Zline by trying to imitate what you guys finished charts might look like -when I'm watching the real time action (along with a few well-placed posts I bookmarked). But now I'm going to really go through NLA for the next few days, so I can understand without-a-doubt.

So basically, keep up the good work, and Alias is making my studying a helluva lot easier too!


thats how i learned, if you have the NLA thread archive open up page 16 and go from there. Especially pay attention to Es/pip's charts that he posted.
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Postby aliassmith » Sat May 22, 2010 1:42 pm

poipen wrote:i thought MZ's were drawn from bodies of candles not wicks?


You are 100% correct. MZ is from the close of the quiet body to the 50%
line.

Basically I am studying Range and Correction not specifically MZ.
Sometimes I have drawn the grey rectangle as an MZ but, mostly I
mark the grey area as the 0% to 50% area of the range.

In the picture below the green lines represent range and the red lines are
correction. I define the range as a well defined move that breaks a
previous high peak.

Now when the correction is coming back within the range I wait until price
at least pierces the 50% area before I take notice. This idea is based on
MightyOne's MZ concept and a lot of fib relationship study I did.

Because of my time placing fibs on many price charts I noticed many
relationships. One important thing I saw was that price can and will
turn at any one of the fib lines and that is usless to me.

I then tried to think about it from a logical point of view. If price comes
back more than 50% and I place an order with my SL at the closest
extreme and my TP at the farthest extreme I will create an (trading) edge.

Not good enough! I did not like placing my orders blindly. I tried to figure
out more logical ways to do things. Such as waiting to place my orders
where I think other orders will carry mine, using rat trades, zlines,
and small breakouts.
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Postby aliassmith » Sat May 22, 2010 1:59 pm

"Alias is making my studying a helluva lot easier too!"

I am about to let you in on a very important trading secret. Before I came
to kreslik.com I had some trading idols and I truely believed that making
10% a month was the greatest thing in the world (technical trading).

I then came across my new idol Malcolmb14 at forexfactory. This guy
could add a zero to the end of his account in a year. I then made my way
to kreslik via the babypips site and met MightyOne, Dragon33, and then
ES/PIP. From that point on I believed any returns are possible in trading.

There was one problem with that belief! I believed I should be getting
the same results as these super-human trading machines. I think this
caused several MENTAL issues with my trading because in the back of
my mind I was always competing with these guys.

Bottomline is when I started to compete with myself and not worry about
what they do I instantly became better. I know some day I will compete
at their level, but until then I am happy making 100+ pips a week :D

The big dogs can throw you all the bones you want, but until you find
that one discretionary method rooted in logic, master it and yourself,
or you will continue to chase your tail.
Last edited by aliassmith on Sat May 22, 2010 2:58 pm, edited 1 time in total.
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aliassmith
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Postby aliassmith » Sat May 22, 2010 2:55 pm

Range
Correction
zlines
exit when line closes over a line you believe to be s/r (small loss)
exit near extreme (nice gain)
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Postby poipen » Sat May 22, 2010 8:39 pm

aliassmith wrote:"Alias is making my studying a helluva lot easier too!"

I am about to let you in on a very important trading secret. Before I came
to kreslik.com I had some trading idols and I truely believed that making
10% a month was the greatest thing in the world (technical trading).

I then came across my new idol Malcolmb14 at forexfactory. This guy
could add a zero to the end of his account in a year. I then made my way
to kreslik via the babypips site and met MightyOne, Dragon33, and then
ES/PIP. From that point on I believed any returns are possible in trading.

There was one problem with that belief! I believed I should be getting
the same results as these super-human trading machines. I think this
caused several MENTAL issues with my trading because in the back of
my mind I was always competing with these guys.

Bottomline is when I started to compete with myself and not worry about
what they do I instantly became better. I know some day I will compete
at their level, but until then I am happy making 100+ pips a week :D

The big dogs can throw you all the bones you want, but until you find
that one discretionary method rooted in logic, master it and yourself,
or you will continue to chase your tail.


I had a similar experience when i started learning about forex and daytrading in general. Since then i've completely disregarded other forums, ESPECIALLY FF have you noticed that users there that have been trading for YEARS and have to even have a profitable week/month have 10+ vouchers???? wtf?!


anyways i want to thank you for your charts that your posting and keep it up theyre very helpful :)
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Postby aliassmith » Sat May 22, 2010 10:24 pm

"I had a similar experience when i started learning about forex and daytrading in general. Since then i've completely disregarded other forums, ESPECIALLY FF have you noticed that users there that have been trading for YEARS and have to even have a profitable week/month have 10+ vouchers???? wtf?!"


Vouches are a popularity contest nothing more.

Kreslik is a forum I look at 99% of my forum time and 1% Forexfactory
mostly because I still have respect for James16 and Malcolmb14.

Learned at the other forums, but Kreslik took my learning to a whole new
level, which is what I was looking for. It has helped me have a better
understanding of Price Action from a more logical view than a statistical
view.
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Postby aliassmith » Mon May 24, 2010 4:43 pm

I love that my scalping is getting more consistent :D
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Postby MightyOne » Mon May 24, 2010 7:02 pm

aliassmith wrote:"I had a similar experience when i started learning about forex and daytrading in general. Since then i've completely disregarded other forums, ESPECIALLY FF have you noticed that users there that have been trading for YEARS and have to even have a profitable week/month have 10+ vouchers???? wtf?!"


Vouches are a popularity contest nothing more.

Kreslik is a forum I look at 99% of my forum time and 1% Forexfactory
mostly because I still have respect for James16 and Malcolmb14.

Learned at the other forums, but Kreslik took my learning to a whole new
level, which is what I was looking for. It has helped me have a better
understanding of Price Action from a more logical view than a statistical
view.



I have no idea who Malcolmb14 is, but James16 is a pretty kewl dude (forgot his real name...it will come to me)

aliassmith
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Postby aliassmith » Tue May 25, 2010 1:00 pm

MightyOne wrote:
aliassmith wrote:"I had a similar experience when i started learning about forex and daytrading in general. Since then i've completely disregarded other forums, ESPECIALLY FF have you noticed that users there that have been trading for YEARS and have to even have a profitable week/month have 10+ vouchers???? wtf?!"


Vouches are a popularity contest nothing more.

Kreslik is a forum I look at 99% of my forum time and 1% Forexfactory
mostly because I still have respect for James16 and Malcolmb14.

Learned at the other forums, but Kreslik took my learning to a whole new
level, which is what I was looking for. It has helped me have a better
understanding of Price Action from a more logical view than a statistical
view.



I have no idea who Malcolmb14 is, but James16 is a pretty kewl dude (forgot his real name...it will come to me)


Yeah I don't think Jim had any intentions other than help people. He put a
lot of effort into it as you have. :D
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Postby aliassmith » Tue May 25, 2010 1:30 pm

5minute range was long
Rat entry long to Held profit near extreme
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