Blind Mouse Strategy

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MightyOne
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Postby MightyOne » Tue Jul 13, 2010 6:31 pm

newark18 wrote:I entered at the black arrow and got stopped out before it went in my direction. My stop was 50 pips.

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Price warned you for 12 hours that it might make that correction, can you see it?

I don't know why you are still drawing multiple S&R lines as if they are going to help you...

S&R: a line which price may cross but not close beyond.

Price does not stop on a S&R or FIBO line :lol: get that babypip BS out of your head.
Price can move hundreds of pips past a monthly S&R line and close above it. Is monthly S&R strong S&R? Yes, monthly S&R is strong S&R but it isn't much help if you do not have the cushion of profit to withstand the monthly Wick Doll.

That is why you trade off a daily+ extreme and focus on the only S&R that matters, your average price.

Later on you may be blessed with such good fortune as to join the S&R game of the big picture.

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newark18
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Postby newark18 » Tue Jul 13, 2010 7:39 pm

MightyOne wrote:Price can move hundreds of pips past a monthly S&R line and close above it. Is monthly S&R strong S&R? Yes, monthly S&R is strong S&R but it isn't much help if you do not have the cushion of profit to withstand the monthly Wick Doll.


That makes complete sense. I didn't realize that I need to worry about the monthly close for the monthly S&R line.

MightyOne wrote:I don't know why you are still drawing multiple S&R lines as if they are going to help you...


I am still testing to see which extremes are good for entries. I figured the answer would lie in higher TF extremes. It seems like I should be focusing on recent extremes for S&R lines and even for entry. Again, I would appreciate any help with this.

MightyOne wrote:Price warned you for 12 hours that it might make that correction, can you see it?


Is it when price tested a newly formed S&R point and failed to close beyond?

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Braathen
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Postby Braathen » Wed Jul 14, 2010 9:44 am

Hi MO. From what i see now i havnt been looking at my s&r the right way.
I have drawn 2 lines that i see as s&r in the pic below.
Im hoping maybe u could give me a "Keep going in that direction" up or a "ur not even close".

S&R: a line which price may cross but not close beyond.

Image
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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newark18
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Postby newark18 » Wed Jul 14, 2010 9:58 pm

I think I butchered this but here it goes. I am focusing on what is happening at the moment (or near moment).

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Postby newark18 » Wed Jul 14, 2010 10:04 pm

Here is another one you can criticize:

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Failure is an opportunity to learn.

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newark18
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Postby newark18 » Thu Jul 15, 2010 12:29 am

MO, what is the reason for the way you think we should combine candles? I am guessing it gives us an advantage for a particular reason or two. Obviously, it changes the way we see the CC candles. But does it give us another advantage? In maybe potential entries? Maybe it gives greater significance to a candle failing to close beyond an S&R line after it has touched it. Or maybe I am making stuff up in my head again.

Your method of combination has a tendency to have the highest high or lowest low to be the last of the CC candle. But sometimes it goes out of whack. Do I change it immediately when I notice it?

I wish you were more verbose than you are. Because I think I would learn so much faster. Can you tell that I might be the most impatient person in the world? ...which doesn't bode well for my trading career.

I have a feeling that these questions will get lost in internet space like some of my other questions asked here. I should have probably learned by now but I tend to make the same mistakes over and over again. But that will probably mean that I will ask the same questions over and over again. Might turn into this crazy circular thing that goes on forever. Until...until someone acknowledges it...

Right at this moment, I am debating whether I should submit this message. I have a distinct feeling that I am going to regret it. Oh well...
Failure is an opportunity to learn.

johny
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Postby johny » Thu Jul 15, 2010 1:23 am

newark18 wrote:MO, what is the reason for the way you think we should combine candles? I am guessing it gives us an advantage for a particular reason or two. Obviously, it changes the way we see the CC candles. But does it give us another advantage? In maybe potential entries? Maybe it gives greater significance to a candle failing to close beyond an S&R line after it has touched it. Or maybe I am making stuff up in my head again.

Your method of combination has a tendency to have the highest high or lowest low to be the last of the CC candle. But sometimes it goes out of whack. Do I change it immediately when I notice it?

I wish you were more verbose than you are. Because I think I would learn so much faster. Can you tell that I might be the most impatient person in the world? ...which doesn't bode well for my trading career.

I have a feeling that these questions will get lost in internet space like some of my other questions asked here. I should have probably learned by now but I tend to make the same mistakes over and over again. But that will probably mean that I will ask the same questions over and over again. Might turn into this crazy circular thing that goes on forever. Until...until someone acknowledges it...

Right at this moment, I am debating whether I should submit this message. I have a distinct feeling that I am going to regret it. Oh well...


One advantage I see with using CC is grasping the flow to the price(chart).
Less chance of getting fooled by a single bar.

Best Regards,
-- Johny

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MightyOne
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Postby MightyOne » Thu Jul 15, 2010 5:24 am

If you are asking me all of these questions then what is left for yourself?

I understand your reaching out to someone more knowledgeable than yourself for the answer, but this isn't school and there is no lunch box waiting with a delicious PBJ.

You want answers?

There are no answers, just ideas created through questions.

Be glad that you have questions, for if you knew the way then you would be lost.

Yes I read all of your posts and yes I will (eventually) answer them :wink: :lol:

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newark18
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Postby newark18 » Thu Jul 15, 2010 11:40 am

MightyOne wrote:You want answers?

I want the TRUTH! (even though I probably can't handle it)
Failure is an opportunity to learn.

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MightyOne
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Postby MightyOne » Thu Jul 15, 2010 3:05 pm

newark18 wrote:
MightyOne wrote:You want answers?

I want the TRUTH! (even though I probably can't handle it)



As it was written long ago...

King James version:
-Bodies show the way
-Wicks show the way not


New International Version:
-Price closes over a line
-Price does not close over a line



Truth stands the test of time.

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