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MightyOne
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Re: TY MO

Postby MightyOne » Tue Oct 05, 2010 7:09 pm

gfg1 wrote:MO, just wanted to say TY for your instruction.

Price either closes over a line or it does not. Price either closes below a line or it does not. Now realize what you were saying, and hopefully, getting it. :roll:


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Re: TY MO

Postby lukx » Tue Oct 05, 2010 7:21 pm

gfg1 wrote:MO, just wanted to say TY for your instruction.

Price either closes over a line or it does not. Price either closes below a line or it does not. Now realize what you were saying, and hopefully, getting it. :roll:


and what's the secret to knowing how to draw line in correct area?

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Re: TY MO

Postby gfg1 » Tue Oct 05, 2010 8:14 pm

lukx, there is no secret. I studied the thread from the start and got to about page 45. I saved charts and replaced them as I went along. The two charts that stuck with me are attached. MO has beat the same drum forever. He has tried to explain it a number of different ways, but it gets down to picking your line in the sand. MO does it with and without CC. I am not good enough to figure out how it is done without CC's. So will stick with that. Hope this helps. Do not want to step on MO's thread tho.

lukx wrote:
gfg1 wrote:MO, just wanted to say TY for your instruction.

Price either closes over a line or it does not. Price either closes below a line or it does not. Now realize what you were saying, and hopefully, getting it. :roll:


and what's the secret to knowing how to draw line in correct area?
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MightyOne
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Re: TY MO

Postby MightyOne » Wed Oct 06, 2010 7:32 am

lukx wrote:
gfg1 wrote:MO, just wanted to say TY for your instruction.

Price either closes over a line or it does not. Price either closes below a line or it does not. Now realize what you were saying, and hopefully, getting it. :roll:


and what's the secret to knowing how to draw line in correct area?


Asking the right questions.

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lukx
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Postby lukx » Wed Oct 06, 2010 7:38 am

I got overwhelming feeling that with you, no question will be the right one.

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Postby MightyOne » Wed Oct 06, 2010 7:40 am

lukx wrote:I got overwhelming feeling that with you, no question will be the right one.


Thank God, you found some truth...

You are supposed to ask the chart your questions, not MO :wink:

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Postby adaseb » Wed Oct 06, 2010 8:38 am

lukx wrote:I got overwhelming feeling that with you, no question will be the right one.


From what I understand, you pick an area that acts as resistance (or support) and then wait for that area to get broken and hold by closing above, then wait for price to retest the area and rebound.

Sorry to hear about your margin call.


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Postby adaseb » Wed Oct 06, 2010 8:44 am

There is also more areas on the same chart that i didnt label.

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Postby lukx » Wed Oct 06, 2010 9:40 am

Thank you adaseb.

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Postby erika_bb » Wed Oct 06, 2010 11:44 am

MO: thanks i understand it now. What does RET mean?...

Lukx: I can't speak for MO or other more experienced traders, but using CC's on multiple time frames has helped me with "price closes over a line, price does not close over a line" Hopefully, by asking questions as I encounter failures and successes I will improve and become a great trader.

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