Horizontal Line Psycho Trades

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cr0cop
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Postby cr0cop » Fri Aug 07, 2009 3:04 pm

looks like a great strategy..... so do you set up your stop loss at 20 pips and what is your profit target?

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Postby zapzinig » Fri Aug 07, 2009 4:05 pm

cr0cop wrote:looks like a great strategy..... so do you set up your stop loss at 20 pips and what is your profit target?


I use between 23-30 pip SL as protective from market spikes. If the price action keeps fulcutating above and below the H1 open I will exit for less of a loss 10-13 pips.

When you have winner price will take off in your direction. Profit target is 25 pips or more depending on what the market will give.

Look at GBP/JPY today.

--zz

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Postby cr0cop » Fri Aug 07, 2009 4:36 pm

thanks for the chart...but are you now using the DTBs on the horizontal lines?

do you only trade fromthe h1 chart?

around how many of these trades do you do per day?


and how long are you in a trade?

out of 10 trades how many go on your favor?

thanks!

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Postby Who Am I ? » Fri Aug 07, 2009 4:43 pm

Hi Gary,

Are you still trading this strategy or only trading ZLs now?

Do you incorporate any of methods of this strategy into ZL strategy?

Thank you.

WAI?

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Postby pablo101 » Wed Aug 12, 2009 2:02 pm

Is it prudent to wait for the hour candle to close or just trade what you see. For example the GU today (12aug 1600) pushed through the 6475 line with ease, H1 was green and there was maybe about 15 minutes before top of the hour. In the end, the candle closed up to the next zline for +25 pips. Looks still going up!

Thanks for your time.

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Postby pablo101 » Wed Aug 12, 2009 3:36 pm

zapzinig wrote:The way I saw the zline was wicks down with bodies moving up.
Are zlines only at the bodies open/close.

Here is a chart from MightyOne I see 1.2765 and 1.2760 , entry orders drawn from wicks.

I may be incorrect in what I see. I am just observing zlines and how price reacts to them while I am focusing on psyco trades at horizontal lines.

Gary




Here are 2 more Psyco trades from today at London open and NY open.



Where can I learn about zero lines, zlines? Or am I complicating things again. Thanks for your time.

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Postby zapzinig » Wed Aug 12, 2009 5:17 pm

Learn more about zerolines here:

MightyOne introduced the concept, es/pip, dragon33, monolisa and others post their charts through out this thread:

Never Lose Again thread: around pg 132 MightyOne starts posting
http://kreslik.com/forums/viewtopic.php?t=1373

(now over 540 pages)

Here is the thread to download the NLA thread archive pg 1-499:
http://kreslik.com/forums/viewtopic.php?t=2005

--zz

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Postby pablo101 » Thu Aug 13, 2009 1:57 am

Thanks ZZ, I go over the threads now. The very best to you :)
What line? The line that tells you which way you are trading! - MO

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Postby pablo101 » Thu Aug 13, 2009 7:37 am

From horizontal lines trading, I got demo +20 on GU and +20 EJ this morning (13-08-09).

Here is a a list of factors of why I took these trades. I just what to make sure, with a higher probability my trades work out. (1) is the most important for taking the long positions.

1. Picking the time for my entry - Euro open ... more volitile
2. Overall trend is up - I see wave forms going up from 1hr to smaller TFs
3. H1 is green up
4. Entered on bar 2 of a break, live price is above the high of the previous three candles

I saw the news at this time too so it could have affect my trade, not sure.

I was confident with the GU trade, it was probing up and up and it worked, but EJ touch my buy stop at 136.75 and bounced -13 pips out of the money! And I was dubious about the EJ entry because of the high with the sema 1 hasn't been breached.

I pray to the forex gods it is as easy as this everyday but somehow I don't think so. I think a big factor is I have to learn to sit on my hands and wait for the Eur and NY open for more success and don't trade every hour.

Anybody using fibs in for better success here?
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Postby lukx » Wed Aug 26, 2009 2:16 pm

I got nothing but loosers with trading horizontal lines here's for example one of the trades form today... Daily was green, H1 was green when I entered when it was cutting hz line... co all the rules were in place, but the price felt down hard like a rock! Image

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