Libertarians take on trading

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Re: Libertarians take on trading

Postby Leoheart » Thu Oct 25, 2018 10:52 am

Libertarian wrote:
Ok long day today typing on iPhone so bear with me. Zls you like, then zlines it’ll be. Some questions. What pairs do you trade and what hours? Are strictly a day trader? More to come.

Btw, so if I am reading your chart right you held a long position as the news came out and totally obliterated your stop (no pun intended)?


Hi Leoheart, I trade the majors mostly, plus EJ, GJ, EN. Thats pretty much it.

I daytrade or swing, however long the position tells me to stay in. However, Ideally I'd like to learn to scalp a little bit more. If I could sleep and do this, that would be amazing.

You are correct, It gapped down 70 pips as the rate announcement happened. I'm a classically trained space trader :lol: so I used to set position beyond a distant extreme, however I'm trying to transition to trading lines, and in that vein I failed. Its happened to me twice now in a month and part of being an FX trader.

I am an extremely profitable trader.

PS. I have recorded that statement on my phone, I need a day to figure out how to get it to play on a loop. So I have to put that goal off 1 day.



I am no scalper, so sorry not much help there. When I am day trading, I try to enter when price picks up momentum,hold, and try my best to exit at an extreme.

As we are on the topic momo & zlines, This is how I see it:


On smaller TFs (no lower than 30 min or 1hr, prefer 30) Say we are on 30. I use just this chart. I do not run an MTF analysis. It Personally gives me a headache switching back and forth and causes me to add value to where it may not exist.

Now to counter this, I grab some highly correlated pairs and treat them as one pair. So in your scenario itd be:


1. EU, EJ

2.GU,GJ

3.GN,EN


So you have 3 groups, but in your view its still only 3 pairs. You observing each pair , but the PA ultimately has to feel similar at the end. If EU is closing higher then EJ should at be atleast testing the lows. You still want to keep an eye on what the higher TF candle looks like. So on your chart (30 in this example) you only focus on the last 4 candles (2hr) plus the current open candle. So our focus is a total of 5 candles off the daily extreme.


All you are looking for is a simple momo burst candle up (ie buy) , the following candle should pierce the momo candle's body and close with a wick. No need to get overally technical with how far the wick should go within the momo candle. Now just confirm if your correlated pair has a similar view. Is it closing higher? Perhaps with momo? Enter the trade long. Three simple steps:


1. Am I atleast 5 candles within the daily extreme?

2. Do I see momo and then a wick?

3. Does my brother (sister) pair agrees with me?


Ok so thats the easy part. Now to the hard stuff.


Your risk: Say you are risking 2% a trade. What you want do is split up this risk in half, so only enter with 1%. Your stop is no more than 15 pips -20 pips. No reason in my view to have any larger on a intraday chart with a wick supporting your direction. As you enter the trade you are acknowledging that price may completely destroy your stop hence the half the risk is put on the line. If price does do this, then at your stop out level place a counter trade of 1% to go in the other direction. This gives atleast one more chance to recover from a loss. Hey If the price is being stubborn and reverse takes you out again, then you have still only lost 2% , your originally intended risk.

Take profit, I simply try to exist at ZZ extreme or look for lower candle closes against my position.

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Re: Libertarians take on trading

Postby Mr. D » Thu Oct 25, 2018 11:03 am

Hi Libertarian,

You have a nice thread! Enjoyed reading the first and the last few pages. Your style makes sense. As you swing trade, what "methods" and ideas have you found helpful? Which pages/posts would you recommend reviewing? I am currently learning about Z-lines and Dead Zones. What else have you found helpful?

All the best!

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Re: Libertarians take on trading

Postby Libertarian » Fri Oct 26, 2018 1:56 am

Hi Leo, so here is my first attempt, green line is D extreme. pretty obvious MOMO. price came back and I entered. Things were going good, price moved my direction. I even added (shouldn't have done that but I did because MO always talks about stacking is most important). now I'm on the verge of getting cracked. No big deal but that is my trade.

11.png
11.png (41 KiB) Viewed 282 times


but the PA ultimately has to feel similar at the end.If EU is closing higher then EJ should at be atleast testing the lows.


OK bear with me here, this is where the fun of forum learning comes in, the above statement. If EU is closing higher, shouldn't EJ be doing any other than testing the lows? This multiple pair idea is new to me.

You still want to keep an eye on what the higher TF candle looks like. So on your chart (30 in this example) you only focus on the last 4 candles (2hr) plus the current open candle. So our focus is a total of 5 candles off the daily extreme.


After price moved down from my ZL, the 4 hour (I know not 2 hour, but I don't have an indy that can draw that custom candle, but I can do it in my head) closed red, creating a color change. That was good, what would you have been thinking about the price action after that, as it rose against me?

I am an extremely profitable trader.

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Re: Libertarians take on trading

Postby Libertarian » Fri Oct 26, 2018 1:56 am

Mr. D wrote:Hi Libertarian,

You have a nice thread! Enjoyed reading the first and the last few pages. Your style makes sense. As you swing trade, what "methods" and ideas have you found helpful? Which pages/posts would you recommend reviewing? I am currently learning about Z-lines and Dead Zones. What else have you found helpful?

All the best!



Hi Mr. D, The Ideas that I trade by thread would be worth a gander.

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Re: Libertarians take on trading

Postby Mr. D » Fri Oct 26, 2018 2:27 am

Hi Libertarian,

Thanks for responding! Is there one place where they are described or, are they all over? Looking for one place to start.

Looking forward to learning from you!

Libertarian wrote:
Mr. D wrote:Hi Libertarian,

You have a nice thread! Enjoyed reading the first and the last few pages. Your style makes sense. As you swing trade, what "methods" and ideas have you found helpful? Which pages/posts would you recommend reviewing? I am currently learning about Z-lines and Dead Zones. What else have you found helpful?

All the best!



Hi Mr. D, The Ideas that I trade by thread would be worth a gander.

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Re: Libertarians take on trading

Postby Libertarian » Fri Oct 26, 2018 3:01 am

http://www.headspace.com

BTW, this will be what I'm using to mediate on the fact that I am an extremely profitable trader. I have begun this today.

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Re: Libertarians take on trading

Postby Libertarian » Fri Oct 26, 2018 3:12 am

Yep, that is where to start. I could say NLA, but the ideas have changed since then, not the ideas, the terminology. Part of my problem is I'm stuck between the two worlds, 08=12 or 13 to today. I don't know, thats what I feel. Thats also why I'm meditating. To get out of my own head. Focus on today. This trade, this learning session, this workday, this time with my family, When I'm there, I'm 100 percent there.

Mr. D wrote:Hi Libertarian,

Thanks for responding! Is there one place where they are described or, are they all over? Looking for one place to start.

Looking forward to learning from you!

Libertarian wrote:
Mr. D wrote:Hi Libertarian,

You have a nice thread! Enjoyed reading the first and the last few pages. Your style makes sense. As you swing trade, what "methods" and ideas have you found helpful? Which pages/posts would you recommend reviewing? I am currently learning about Z-lines and Dead Zones. What else have you found helpful?

All the best!



Hi Mr. D, The Ideas that I trade by thread would be worth a gander.

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Re: Libertarians take on trading

Postby Leoheart » Fri Oct 26, 2018 12:27 pm

Libertarian wrote:Hi Leo, so here is my first attempt, green line is D extreme. pretty obvious MOMO. price came back and I entered. Things were going good, price moved my direction. I even added (shouldn't have done that but I did because MO always talks about stacking is most important). now I'm on the verge of getting cracked. No big deal but that is my trade.

11.png

but the PA ultimately has to feel similar at the end.If EU is closing higher then EJ should at be atleast testing the lows.


OK bear with me here, this is where the fun of forum learning comes in, the above statement. If EU is closing higher, shouldn't EJ be doing any other than testing the lows? This multiple pair idea is new to me.

You still want to keep an eye on what the higher TF candle looks like. So on your chart (30 in this example) you only focus on the last 4 candles (2hr) plus the current open candle. So our focus is a total of 5 candles off the daily extreme.


After price moved down from my ZL, the 4 hour (I know not 2 hour, but I don't have an indy that can draw that custom candle, but I can do it in my head) closed red, creating a color change. That was good, what would you have been thinking about the price action after that, as it rose against me?

I am an extremely profitable trader.



Yup good entry. Stacking is a personal preference, not a must. Stacking makes sense when you are building a position off a monthly,weekly, yearly extremes. With this style of trading I would personally stay away from it.

The best way to describe MPI is with an example outside of trading.

Simply put: Two identical cars are built in a factor. Both of these cars are test driven at the same time. As they both approach a stop light, Driver in one of the cars gets overly zealous and beats the light while the other stops at the light. Now even though both of these cars are not traveling together anymore, there final destination is still back at the factory. Or on another day, both drivers may encounter a serious case of road rage start racing each other and blow through every stop light. Your pairs can do many things, but as longs price eventually conforms to idea that your are trading, it should be good enough. Don't overthink ideas, ponder - put up your charts & just observe.

Ok about your exit. Do you see how price started to close against your position? It was literally building a base against you. In this scenario I would be been out at the 4th candle (green CC) off the low. Its the one immediately following the candle with wick.

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Re: Libertarians take on trading

Postby Libertarian » Fri Oct 26, 2018 4:20 pm

Thank you. MPI makes sense. Assume that mean something like Multiple pair input or something?

Here is exactly what I was thinking and why I did what I did.

12.png
12.png (73.75 KiB) Viewed 232 times


We got Momentum down and I entered at the ZL (highest red line), no problem. All good. price moved away.

PA action then made an hrly ZL ( lower red line) which was also the area of the ZL up on the 15?

I was sitting there and thinking at the VERY least we make a lower low. I had one TP at the top orange line (which is where BO traders would have entered and the second lower orange where the last bit of bullish profit would have been held. I'm sorry those orange lines look red but should be clear enough. ( I was actually thinking we were heading higher is the funny/sad (depending on the day) part)m but was just trying to take advantage of the ZLs

Are you just focused on not taking a loss when your trading at the extremes? In my thought process your looking for a short at the place where price has been moving higher or vice versa for a long depending on which end of the candle you are on.

Just prior, I had sent this PA to a friend who knows something about Zls :lol: . Saying I'd get in based on which way price broke out of this range. It was correct. Price broke out, but it came back and pushed the bottom edge of my extreme twice before carrying along on its merry way.

mt4.jpg
mt4.jpg (153.92 KiB) Viewed 232 times


For refernce sake it was this part on the original chart above

13.PNG
13.PNG (8.89 KiB) Viewed 232 times


I AM AN EXTREMELY PROFITABLE TRADER

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Re: Libertarians take on trading

Postby Leoheart » Fri Oct 26, 2018 9:09 pm

Libertarian wrote:Thank you. MPI makes sense. Assume that mean something like Multiple pair input or something?

Here is exactly what I was thinking and why I did what I did.

12.png

We got Momentum down and I entered at the ZL (highest red line), no problem. All good. price moved away.

PA action then made an hrly ZL ( lower red line) which was also the area of the ZL up on the 15?

I was sitting there and thinking at the VERY least we make a lower low. I had one TP at the top orange line (which is where BO traders would have entered and the second lower orange where the last bit of bullish profit would have been held. I'm sorry those orange lines look red but should be clear enough. ( I was actually thinking we were heading higher is the funny/sad (depending on the day) part)m but was just trying to take advantage of the ZLs

Are you just focused on not taking a loss when your trading at the extremes? In my thought process your looking for a short at the place where price has been moving higher or vice versa for a long depending on which end of the candle you are on.

Just prior, I had sent this PA to a friend who knows something about Zls :lol: . Saying I'd get in based on which way price broke out of this range. It was correct. Price broke out, but it came back and pushed the bottom edge of my extreme twice before carrying along on its merry way.

mt4.jpg

For refernce sake it was this part on the original chart above

13.PNG

I AM AN EXTREMELY PROFITABLE TRADER


MPI (Multiple Pair Idea) I just abbreviated what you said :).

When it comes Momo & zlines On an intraday tf, yes I am only looking at reversals off daily extremes. As I am sticking to one tf and not analyzing htfs I know I may have an higher chance off being faded into a loss. But that is ok, with a little money management and MPI I believe it’ll turn out to be ok.

With Mpi it’s like you are carpenter building a new house everytime. You start to lay plywood on the foundation and notice hey some are longer than other. You then consult your carpenter bud who is also building a similar house and is more advance stage of development. You take his building plans and overlay them onto yours and determine the next steps.

In regards to your Tp. If you do decide to go the mpi route just take tp on the chart you are trading. Similar to what we went over, you would bagged about 10 pips I believe if you would of just exited as price started to built a base against your position.

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