Blind Mouse Strategy

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dawido
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Postby dawido » Sat Feb 25, 2012 3:46 pm

forexjpn wrote:Next, I'm not sure why your line is where it is, but in fact it doesn't matter so much....


Thanks for your answer.
I am still trying figure out where I should put these LINES.
For me this is the biggest problem.

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dawido
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Postby dawido » Sat Feb 25, 2012 3:54 pm

Remora wrote:Price was closing higher than something. That is what I see. Pic looks rangey up to near your entry until range started expanding in the positive direction.


Where is your "something"? How do you define "something"?
How do you know that price will not reverse soon and will not start falling?
I do NOT see it. I feel like BLIND MOUSE.

Remora
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Postby Remora » Sat Feb 25, 2012 4:23 pm

My something is just that, my something, subjective :) I may look at S&R or maybe a 30,25 line which way is range expanding on x amount of timeframes, any news out, as for knowing about price reversing, well, we don't know, that is what a stop loss or space is for. 8)
Space is a shield, leverage a sword, and management of the two is the skill of the warrior (and trading IS war). You know who:)

forexjpn
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Postby forexjpn » Sat Feb 25, 2012 4:45 pm

First of all, where your line is, is not as important as you might think.
What I mean by that is, if you are too concerned about whether your line is in the right place, you will always fear your trades. Try to take the fear out of your trades, so that you will be able to react properly when you are wrong. (ie. size your positions appropriately)
In my opinion, your trade was not really 'wrong' per se, but you need to react properly when things don't work out. (ie. get out when price closes back over your line)

Having said that, regarding your entry, one could say that although price closed over your line, there was no momentum to show that price would continue in your direction, but there were atleast 2 bars showing momentum in the opposite direction, with another coming right after the bar you were stopped out on.
Hope that helps.

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dragon33
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Postby dragon33 » Sat Feb 25, 2012 7:49 pm

dawido wrote:
forexjpn wrote:Next, I'm not sure why your line is where it is, but in fact it doesn't matter so much....


Thanks for your answer.
I am still trying figure out where I should put these LINES.
For me this is the biggest problem.


So many pm's with a lot of questions!!! Do you ever read what is explained?
What do you want? Trading like me, MO ESPIP or .....
Again all the info is here, stick to one method. Seems like you don't know yourself what method you love and after all you don't even get the basic!!!

This makes me angry,
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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dawido
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Postby dawido » Sat Feb 25, 2012 8:33 pm

Dragon,
Don't be angry man. I have read your messages A LOT OF TIME.
I have analysied your charts precisely. Believe me.
I know the theory, but this is not the same what pratise is.
I would like just trade profitable, like you it would be great.
When I see your trades I am jealous 8-).

I have read NLA thread. I know the basic. I know that momo candle is he key, and ONLY the bar hugging the momo triggers ZL trade. After that we are looking at a trade off of support (from MZ), however as MO said it can be more dangerous.

However my entry are not so good. Because what often happen to me:
- price breaks the support when I try to bounce from it OR
- price go further touches my SL reverses and go in direction where I woanted to go.
This is the reason why I am tring to find an answer what I am doing WRONG.

This is NOT ALL. But I think that it will be enough.

Remora
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Postby Remora » Sat Feb 25, 2012 9:03 pm

If price breaks support/resistance then this is a breakout if it continues, price would be closing over/under something, if your stop loss keeps getting touched then reversing widen your stop and lower you $ per pip. Maybe start your own thread with a trade journal.Look for bredins post plus you can only read so much then it is down to practise, you get burnt you learn.
Last edited by Remora on Sat Feb 25, 2012 10:32 pm, edited 1 time in total.
Space is a shield, leverage a sword, and management of the two is the skill of the warrior (and trading IS war). You know who:)

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MightyOne
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Postby MightyOne » Sat Feb 25, 2012 9:41 pm


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dojirock
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Postby dojirock » Sun Feb 26, 2012 2:48 am

dawido wrote:Who can help me with Blind Mouse Strategy?
This is my trade which I have made yesterday.

Price closed below a line which I believed to be a S&R.
Does it mean that price should go down?
For sure I do NOT see something.

My questions
Below what price should close? Only one candle has to close below?
Or we have to wait and observe what will do the second candle?

Thanking in advance,
Dawid


Dawido,

Look at the pic you posted...there is no momentum short. If you look at the last mbar long and draw a line at the 50 percent area...price never closed beow that line. Dont try to guess the top. Believe me, I have tried for along time.. wait for momentum then get a verification of that momentum of some kind before you enter, there is plenty of room to make a good trade without getting the top visually.

Hope this helps.

:)
-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!"

dawido
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Postby dawido » Sun Feb 26, 2012 7:22 am

Trade which you have seen on previous page I made because I saw something called FatCat S&R. Price closed above and then below something. I thought that FatCat S&R defines support and resistant.
Therefore I decided to trade short (in this case from resistance and DAILY+ HIGH).
I tried to do what MO wrote on the second page in this thread.

Right now when I am looking at that I will do it differently.
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