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

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Kenyuki
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Postby Kenyuki » Mon Nov 02, 2009 5:10 pm

es/pip wrote:i have no idea what you are doing


Sorry to chip in too... I thought you were trading zero lines?

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Ken.

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lukx
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Postby lukx » Mon Nov 02, 2009 5:17 pm

long:
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noushina
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Postby noushina » Mon Nov 02, 2009 5:24 pm

lukx wrote:after very long hours, LOSS:

Image
Sam says that if you keep retesting the demand line you will eventually run out of buyers.

That is the reason why descending triangles work. Here you were up 30 or 40 pips. then Demand was retested. Then you were up 50 pips and then we see a descending triangle until finally we run out of buyers and there is a breakthrough and your stop gets hit.

I guess it's a question of when to exit. It sure wont go up for ever. Certainly at that long wick at around 12:00 it was a pretty clear sign that the party was over.

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Postby tking » Mon Nov 02, 2009 5:42 pm

Lukx,

I seem to be having my own troubles trying to judge supply and demand areas today. They don't seem as clear as they were on Friday. I wonder if that might be typical of early in the week?

Is anyone else here confused as to why the dollar dropped against other currencies at the same time several good news items came out on the usd?

Have you noticed that the "graph" of the gpdusd closely (or at least somewhat) resembles that of the eu and the inverse of the usdchf, usdjpy, and usdcad? If they are so closely tied together, then does this mean that some of the areas we think are demand and supply zones for the pair we are looking at might actually be due to zones on another pair influencing the pair we are looking at?

I went short on the eu where you went long on the gu.

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lukx
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Postby lukx » Mon Nov 02, 2009 6:06 pm

loss:

Image

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lukx
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Postby lukx » Mon Nov 02, 2009 6:52 pm

short:
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lukx
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Postby lukx » Mon Nov 02, 2009 7:42 pm

loss:
Image

gutek04
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Postby gutek04 » Mon Nov 02, 2009 7:46 pm

Lukx if You are interested in understanding deeply what supply and demand are than serch for info about Volume Spread Analysis. I would advise You to read "Master the markets" by Tom Williams.

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lukx
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Postby lukx » Mon Nov 02, 2009 8:36 pm

thanks gutek04, I'm downloading the book as we speak :)

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Postby PTG » Mon Nov 02, 2009 11:16 pm

es/pip wrote:
lukx wrote:well I guess last week I was just lucky.



i have no idea what you are doing

r u just trading supply and demand zones now

i dont want to step in and make a bunch of comments about the sam stuff bec i just briefly looked it over.

regardless if it is a zl or a sam area--- you just cant blindly take it bec it is there imho

ptg and a couple others seem to be really into it so i will let them critique what you are doing

bec i have no idea


Not in a position myself today to comment; had a little bit of an off day :roll: :shock:

General remark would be that the Sam-stuff with supply/demand zones looks much like MightyZones, for the simple reason that momo's, which define Mightyzones, originate from supply/demand zones many times. The same things do apply for the s/d zones as they for for MZones: you can't take them blindly imho2. There are ways of handling this, they can be found in the video's and its just common sense if you ask me.

Another couple of remarks to LUKX (sorry for not making another post, don't have the time right now) would be that finding the right entry, as you did last week, is only a small part of the work. You will also have to deal with psychology (VERY important) and position management (even more important).

You now seem to think again that you're crap and that luck defines your future. STOP THAT s**t WILL YOU !!!! This is no help towards your progress.

This has NOTHING to do with "luck" and EVERYTHING with knowing what you're doing. If you don't know what you're doing, you have to educate yourself. Simple.

Also, do NOT expect to be able to run when you have just begun to learn to walk. It's not the way it works, and that shouldn't bother you, as long as you have a goal, as defined by your plan.

I would forget all the entries for now, because you know (or almost know :wink: ) how to do that. Concentrate on the other stuff (exit, monoey management, psychology) because THAT's where your issues are, I believe.

There's NOTHING wrong other than that there is a mismatch between your expectations and your results. You will have to work on that in that you recalibrate this. Exercise, patience and endurance will do the job. You can do it !
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