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

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lukx
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Postby lukx » Fri Jan 22, 2010 9:30 am

30 pips taken :). GPB news nicely pushed it down :)

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Postby pablo101 » Fri Jan 22, 2010 9:36 am

vane wrote:TP hit..

Image


"5+5=10"

sexy analysis! nice trading :)

I had brain freeze or what some people call 'analysis paralysis' during this short moment :(
What line? The line that tells you which way you are trading! - MO

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Postby vane » Fri Jan 22, 2010 9:41 am

pablo101 wrote:
vane wrote:TP hit..

Image


"5+5=10"

sexy analysis! nice trading :)

I had brain freeze or what some people call 'analysis paralysis' during this short moment :(


Thanks pablo Happy_Smile I learned everythig from you boys... and now waiting for the next one.. like a said I LOVE Z LINES.. :smt057

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Postby Fxtraveller » Fri Jan 22, 2010 10:38 am

cfabian wrote:Hey Fxtraveller,
Can you please be more specific or post a chart about what you mean by "...Lukx, dont make the mistake I was making for a while with zlines. look for a zline on the past 3-5 candles. that is going with momentum "

Not sure if getting it clearly, or is as simple that I'm over complicating...

Cheers


Fxtraveller wrote:Lukx, dont make the mistake I was making for a while with zlines. look for a zline on the past 3-5 candles. that is going with momentum

U are going to buy whe its going down. the buy zone that u see- it might offer a retracement, not a reversal. stick to current h4 momo.

I just entered short and got out with 0 pips, PA was weird for bout 30 minutes, didnt like that, so got out. but it still went my way- down !!



cfabian, remember es/pip would insist that he trades zlines mostly on consecutive candles? see Pic '1' below.

If price comes back later, thats also zline, but its commonly called everywhere support becomes resistance and vice cersa (see pic '2')

+ if after pic 2 u look at pic 1, u would identify a BO point where one could enter ;)


finally, to answer you question, lukx was looking to go long on an 'old' zline while H4 momo down was MANIC. there is nothing wrong with old zlines, but

1) quite often they've been somehow wicked and we dont notice them, and
2) stick to most recent momo, explanations in pic 3.

hope that helps. the first 2 pics are the summary of ZLines to me anyway.

happy trading
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lukx
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Postby lukx » Fri Jan 22, 2010 10:50 am

in short again:
Image

if this trade works it's my last one for this week.

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Postby lukx » Fri Jan 22, 2010 10:58 am

damn I just noticed I went again against the 1h color :(

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Postby lukx » Fri Jan 22, 2010 10:59 am

CONCENTRATE LUKE !!!

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Postby Fxtraveller » Fri Jan 22, 2010 10:59 am

This is an example why scaling in is a good idea (enter with small lot, then aim to enter more if price goes some way against you)

Aggresive, so entered with 1/4. entered with 3/4 later, price moved back, exited with ( -18 pips x 1 ) + (9 pips x3) = + 9 pips.

this was not luck, this was calcualted risk.

but it is a safety cushion if a enter too aggresively (and make a mistake) rather than 'oooh, im so unstoppable' =]]
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Postby adaseb » Fri Jan 22, 2010 10:59 am

Hello

I enter and play the setup differently if its a scalp. I usually use the rat method of entry if a trade is based off the H1/H4. However from time to time when I can clearly see held profit being zero'd I do a quick scalp based on the M15/M5 charts. These scalps are identical to how es/pip traded them and I usually get out when a M5 closes against me and I use a much smaller lot.

These scalps are riskier because you enter pretty much right before the reversal happens, sometime it can go straight thru my order and stop me out. However must of the time, it is what it is "held profit being zero'd out".

It closes against me on M5, i either close as close to BE as possible or lower my lot size.


cfabian wrote:Adaseb... from your posts I can see (or that's my perception) that you just enter because price is in the zone. On many of your charts I do not see price moving along to confirm a direction by the time you enter... what puts you in higher risk position.



adaseb wrote:Image

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Postby Fxtraveller » Fri Jan 22, 2010 11:01 am

lukx. I just made a sell before yours. was tough for me. just watching passivley now, hope it works out for ya.


EDIT at 11:14 GMT+0:

Lukx, I hope u took at least 15 pips of that trade already ! =]
Last edited by Fxtraveller on Fri Jan 22, 2010 11:15 am, edited 1 time in total.

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