Bettleboxs Breakdown of Zlines and MoMos

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Postby prochargedmopar » Mon Apr 09, 2012 12:16 am

MightyOne wrote:http://i42.tinypic.com/s5fk9h.gif


That is a pretty picture.
#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

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Postby bettlebox » Wed Apr 11, 2012 9:18 pm

Over last 3 weeks i have been focusing on making money out my knowledge of MoMo. I can tell you its not easy.

My conculsion is this

1. All your analysis and charting is designed to pick right direction and when to enter to get best price, thats it none more. <----this alone is not enough

so gone on to looking into developing below:- read NLA and MO talking about entry strategies.

2.Managing your trade is next after you enter, you need a clear simple plan. To keep your loses while allow trades to run.Up to this point i never had a trade execution plan.

Managing my trade im going to use faded entries(1/3s) and if i enter trade and not in profit on 5/15min depending on my entry i will looking for better price to exit /or iam straight out. I will use limit orders at 00's 05's nearest my higher time frame zline.


3. Exit strategy.
i will look for better price to exit. similar to entry or i will exit on zline.

BB
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Postby bettlebox » Thu Apr 12, 2012 3:15 pm

Ok im starting to see what im doing right and what im doing wrong.

things i get right:
chart analysis direction and price level which is a good target price and entry price.

Things iam getting wrong:
1) after wicking candling im looking for my entry, sometime price immediately pull away and give the appearance of running away. In pass i panic and hit market order, of course almost soon as i hit it reverses to offer me the best price or worse close beyond my line. This happens so often i had enough it time to stop doing this.

the other thing i do is:-

2) i will exit at valid take profit area and then i think momentum is going to breakthrough and jump back in. guess what? it closes against me and eats into my profits.

These are 2 things i have ID that screwing me up. I need to work on these.

Its no wonder im struggling to make money out this, method and analysis is sound it bloody trade execution thats screwing everything up.

I WILL BLOODY MASTER THIS I HAVEN'T COME ALL THIS WAY TO GIVE UP NOW.

BB
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Postby bettlebox » Fri Apr 13, 2012 7:59 am

YES at last i executed a trade with out thinking. It was less than perfect but with correct trade execution i come out with some pips in my pocket.

Plus to the trade 4hr,1hr and 15min momo down and wicking on 15min.

Minus small 1hr momo up with 1hr wicking and momentum on bottom.

I took it based on where strenght laided. I thought i missed my best price 1.31700 but price came back to picked me up, dropped and stalled at 60 i jumped out. I was hoping price going to push through the low of previous 4hr but it stalled and retraced. Now i wait for my next setup.

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Postby bettlebox » Fri Apr 13, 2012 9:08 am

This one made me laugh. I was looking for entry on my 5min chart as continuation to downside from post above. It was a failed 15min momo to upside out 4hr and 1hr mightyzone.

I wanted my best price 1.31650 and it came with in 0.6 of pip hitting. I refused to hit market order. You give me the price i want, im not chasing price only have turn on me .


BB
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Postby bettlebox » Sat Apr 14, 2012 4:53 pm

Ok so been going over my trade execution on friday. And seeing what tactics i can use to catch a trade that misses me by few pips.

Like any good negotiator, i need to be flexiable and not have fixed price ,refuse to move on. I need to able to meet the market at level thats good for both us.

I also do not want to get tied up a bunch rules on this. And i want to avoid getting a bad price. This is going have to be suck it and see what works. If i can master this theres going to be no stopping me.

[highlight=yellow]BUY AT WHOLESALE, SELL AT RETAIL.[/highlight]

I beginning to understand difference between a "Set and Forget" trade and directly managed trade. They are world apart in regards to skill. One requires very little skill and other is acquired skill. I want to learn that skill, because no matter what edge you use at the end of the day. You know how to get best price and when to quit, this is difference that makes THE DIFFERENCE. The markets going have to work to get every penny out my hands from now on. No more setting trades and walking away hoping my stop loss held or it was big enough to cover the movement.

so im going to incorprate this:-

http://www.kreslik.com/forums/viewtopic ... 4151#14151

[B]If price is not making an attempt to move to your limit orders and and a candle is drawing to a close my last attempt at a better price would be to see if price would make some sore of quick RET to the nearest 0 or 5 below price.
If that doesn't work then I would just place a b/s stop on the nearest 0 or 5 above price.[/
B]

BB
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Postby dojirock » Sat Apr 14, 2012 6:56 pm

Hi BB,

Take a moment, your straying.....to many lines, to many timeframes......

dojirock
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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Postby bettlebox » Sat Apr 21, 2012 3:25 am

I started seeing this, this week, i have been going through 4hr chart first at pivots with sema. Then every 4hr candle it happens time and time again.

The pictures below show the relationship of the 4hr Open, Close, High and Low of previous 4hr candle to 1hr MoMos in the proceeding 1hr candles.

remember this example that shows concept but, Sometimes the 1hr momo might be inside previous 4hr chandle and you just simply looking for retace back into mightyzone.

On 4hr chart if previous candle was red and price has been falling then i my expectation would be a continuation to downside. But only if 1hr momo is there. Use your common sense and dont trade directly into a demand or supply area.

If work your way through a chart and watch how price reactions around the lines from the 4hr chart on lower timeframes. You will start seeing things that happen over and over again.

I am sure not seeing things.

PAGE 1


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PAGE 4


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Postby bettlebox » Sat Apr 21, 2012 1:56 pm

here is another more complex example:

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PAGE 5
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Postby bettlebox » Sat Apr 21, 2012 2:17 pm

AND ANOTHER EXAMPLE, I was expecting price to continue to upside, but it wanted to go down.

just 4hr and 1hr analysis. No 15min analysis.

PAGE 1


BB
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