rushN4 wrote:MightyOne wrote:rushN4 wrote:MightyOne wrote:You don't have to be right, just guess what you think might happen, draw a line in the sand, and exit if you are wrong in time & price.
My advise to the losers (not that anyone listens ) is:
1. Forget about stops and size your position to no greater than 1/5 MaxSize.
2. Analyze the weekly chart and trade the hourly bodies in the direction of profit off of the weekly extremes.
3. Lay off the crack, you do not need to trade every day to make 1000% a year.
4. Forget that you are trading and focus on increasing your position size as price moves in your favor.
5. Form a plan of attack ie price is moveing sideways: grab space in both directions, stack the space to withstand the wickdoll of x period, spew short trades as much as possible.
Hi MO thanks for your advice
i always try to listen but sometimes its hard to understand what you want to tell us...
is this what you mean with trade off of a weekly extreme in my charts?
if not can you make an example of what you mean please?
im still long 1,3900 on the h1 because we have momo on weekly...so the cashzone target 2 should be reachable.
First let us fix the problem with your momo targeting skills:
First let me thank you for taking time to explain...
i read somewhere in a post of you that the 9 period cc should capture as much Momo from the smaller 3 cc as possible and this is maybe why you shifted the 9period CC at the bottom of the chart because there was no Momo on the 3ccs . Is that Correct?
i also never understood what the x and y stands for in your charts. maybe x is a quiet period and y is a close over something
EDIT---here i found something on x and Y maybe this ist what you are talking about:
http://kreslik.com/forums/viewtopic.php ... start=2640
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
We'll have to pencil you in for a Google Talk