Libertarians take on trading

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MightyOne
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"Something"

Postby MightyOne » Sun Jun 15, 2014 4:12 pm

Image


"Something" is both a line and an area.

On short term charts we trade away from "something"
On long term charts we hold if price closes beyond "something"

:lol:

My "something" is the open of the current & next 2xCC.

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Postby xXx » Sun Jun 15, 2014 5:07 pm

It took me a lot of time to accept the "something" concept :D

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Postby MightyOne » Tue Jun 24, 2014 5:57 pm

I just want to say that you do not put the "Perfect Opens" indicator on the same chart as the 2xCC; silly rabbit. =)

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Postby Libertarian » Wed Jun 25, 2014 3:28 pm

MightyOne wrote:I just want to say that you do not put the "Perfect Opens" indicator on the same chart as the 2xCC; silly rabbit. =)
:lol: :roll:

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Postby Libertarian » Sat Jul 05, 2014 8:11 pm

xXx wrote:It took me a lot of time to accept the "something" concept :D


Care to expand upon that xXx?

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Postby Libertarian » Sat Jul 05, 2014 8:29 pm

God damn it I hate this s**t. I was short the USDCHF. The Daily chart shows why I was thinking short and what I was looking at. Red line is the last stop for the BO traders that will zero them out. The green line is resistance become support become resistance and a BDP out of there. So I entered and price was cruising my way. On the hr chart I entered at the down arrow. I was scared at the X but survived. I saw big momo down into support and I sat and said I should hedge this sucker and get out, but I did nothing because I thought I'm aiming for a large chart and I don't want to miss it. Of course price comes back at W and closes over my momo candle so I hop out for a very small gain assuming it was going to make some kind of range and price proceeds to take off in my direction without me. That was my trade for the week.
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Postby xXx » Sat Jul 05, 2014 8:47 pm

Libertarian wrote:
xXx wrote:It took me a lot of time to accept the "something" concept :D


Care to expand upon that xXx?

I was looking at MO's "Is it closing higher or lower than something"
I thought that the grey area it was something. It was not closing higher...
So I was selling. Then there was breakout and I was on the wrong side of the market (I know that there is no wrong side of the market - Position, Position, Position, Position... 8) )
The something was the red line and it closed higher, and higher and higher...
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2014-07-05 21_31_52-_ FxPro - MetaTrader 4 - [EURUSD,H1].jpg
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Postby xXx » Sat Jul 05, 2014 8:49 pm

It was closing higher than something
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2014-07-05 21_40_18-_ FxPro - MetaTrader 4 - [EURUSD,H1].jpg
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Postby Libertarian » Sat Jul 05, 2014 9:42 pm

So you mean a defined S/R? What I am struggling is the open piece that he refers to in the above. I think like a lot of things this is something that I have missed the boat on. Not paying attention to the key "moving" pieces. I have never paid attention to the open of candles. I always thought it was about the extreme. I fear I was very WRONG.
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Postby xXx » Sat Jul 05, 2014 10:03 pm

MO says trade of Daily+ High/Low (now 2 days extreme I think).
Many guys here say that extremes are important as well.
I have got my trading system trading renko charts which I am testing and when I looked at my entries on renko charts and Dragon lines on candles I had an Eureka moments. Those lines are using the open/close and work very well and are real eye opener for me.
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2014-07-05 22_57_21-EUR_AUD,  Renko 20 Pips [7].jpg
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