lukx zline trading log + cfabian p.35 + adaseb p.48

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lukx
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Postby lukx » Thu Oct 29, 2009 9:38 am

I just want ot make sure i see thing correctly:

Two points from Sam videos:

1) For DEMAND(support) you always want to see drop first.

2) For SUPPLY(resistance) you want to see rally up first.

we're in supply zone.
Image

we wait for price to leave that area so we can finally say if it will be new supply or demand. Than we wait for price to pullback here and we take the trade.

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Postby pablo101 » Thu Oct 29, 2009 10:13 am

lukx wrote:I just want ot make sure i see thing correctly:

Two points from Sam videos:

1) For DEMAND(support) you always want to see drop first.

2) For SUPPLY(resistance) you want to see rally up first.

we're in supply zone.
Image

we wait for price to leave that area so we can finally say if it will be new supply or demand. Than we wait for price to pullback here and we take the trade.


So risky to buy then
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Postby PTG » Thu Oct 29, 2009 10:34 am

It's lower risk to get in the trade after a pullback that is close to the origin of the breakout.

The further you get away from the breakout, the closer you get to the target zone and the riskier it becomes to enter.
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Postby ***FX-JEDI*** » Thu Oct 29, 2009 10:36 am

Quote "30m -(should I even bother looking at this tf?! Just another one to mix things up in my head) anyway short I think"

I have 4 monitors & that still is not enough, I look at Monthly, Weekly, Daily, 4HR, 1HR, 30min 15min, 5min, & occasionally 8HR & 2HR, I think I need some more monitors another 4 should ought to do it... :-|

Looks like ya grabing some pips the Lukx, nice work glad you didn't give up.
Its better to be out of the market wishing you were in,
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lukx
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Postby lukx » Thu Oct 29, 2009 11:00 am

PTG wrote:It's lower risk to get in the trade after a pullback that is close to the origin of the breakout.

The further you get away from the breakout, the closer you get to the target zone and the riskier it becomes to enter.


hmmm on sam videos it's sometimes very far away:
Image

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Postby lukx » Thu Oct 29, 2009 11:08 am

pablo101 wrote:
So risky to buy then


yep, now I guess, we can witness what Sam was telling in his vids, price left the zone, and now we got to wait for pullback and enter long finally. OR... we will hit this supply zone and short it.

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Postby PTG » Thu Oct 29, 2009 11:31 am

Actually, I'm in that trade from 1.44444. A bit later than I was looking for, had to go to the toilet dangit :-&

I should have and in hindsight could have waited for another retrace to 1.6432 which I had in mind. It's the top of the zone that I put in a few days ago.

t/p 1.6636, s/l 1.6413

I will let it go as I have to do other things and apart from that the market should do the work, not me worrying about this trade.
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Postby ***FX-JEDI*** » Thu Oct 29, 2009 11:40 am

PTG wrote:Actually, I'm in that trade from 1.44444. A bit later than I was looking for, had to go to the toilet dangit :-&

I should have and in hindsight could have waited for another retrace to 1.6432 which I had in mind. It's the top of the zone that I put in a few days ago.

t/p 1.6636, s/l 1.6413

I will let it go as I have to do other things and apart from that the market should do the work, not me worrying about this trade.


is that a typo 1.44444 should that be 1.64444??
Yeah i got in at 1.64294 way way late, but up 39.8 pips now
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then being in the market wishing you were out.....

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Postby PTG » Thu Oct 29, 2009 11:47 am

That was to check if somebody noticed.. :P
You PASSED :smt113

Nah, it was a typo :lol:
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Postby lukx » Thu Oct 29, 2009 11:55 am

I can see why you guys took it... also what Sam was saying about price hitting supply few times and than bamm up up. I'm not that advance as you guys so I wasn't sure if I should take it :) But the right time will come for me hopefully :)

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