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

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MightyOne
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Postby MightyOne » Wed Mar 03, 2010 9:14 am

Let us have another look:

Image

More candles than I like to combine...

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adaseb
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Postby adaseb » Wed Mar 03, 2010 9:35 am

MightyOne wrote:
adaseb wrote:Image


You are asking me if that green candle should be counted as part of the momentum that is unfolding downwards?


Ok. I understand now.

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Postby aliassmith » Wed Mar 03, 2010 2:15 pm

es/pip wrote:last couple of trades


edit--------------

that s becomes r at the bottom
should say r becomes s

Image


Your charts and Prochargedmopars success are inspirational.

I have been wanting to go to M5 charts because of my time constraints.

Even when I quit my job I still don't want to spend a lot of time trading
each day. So I alotted about 4 to 5 hours during US/London to trade.

I reduced my leverage by a lot and I will be testing/practicing on
the M5 chart.

Testing: Rejections of; Support/Resistance/Extremes/Zlines

Wicks show the way, NOT :)

Goal 250+ pips a month!
Trade Your Way as Long as It Makes Money!

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Re: EJ H4

Postby Fxtraveller » Wed Mar 03, 2010 3:53 pm

MightyOne wrote:
Fxtraveller wrote:Getting my confidence back.

Mighty, how's the analysis? Bodies show the way, wicks in direction of loss, candles failing to close above resistance.
cheers.
FxT


What happened to your confidence FxTraveller?


When, after my most successful trading month ever (January) I lost 2/3rds of profit in 2 trades in February. Confidence in the tool (zlines concept) is still rock solid, but my confidence as a user of the tool took a blow.

I still got a problem with my abominable R/R ratio. furthermore, I'd start to forget about the big picture and looking mostly at H1 and M15, and going long where there was the most OBVIOUS zline SHORT visible on D1.

So the losses forced me to remember you saying (over and over again):

- Big charts rule the markets
- the more you 'zoom in'/use smaller TF, the more MOMO analysis loses value

- not waiting for the wick in D of Loss and body in D of profit is MUCH riskier.

- (from another thread)- if your trade lasts on average less than 20 minutes- then you are trading with scared money.
and I AM trading with scared money (even 0.01 lots- just hate losing)

looking at H4/D1 charts I am looking at increasing my Reward, with Risk staying roughly the same at about 25-40 pips.

Regards.
FxT

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Re: EJ H4

Postby MightyOne » Wed Mar 03, 2010 7:40 pm

Fxtraveller wrote:
MightyOne wrote:
Fxtraveller wrote:Getting my confidence back.

Mighty, how's the analysis? Bodies show the way, wicks in direction of loss, candles failing to close above resistance.
cheers.
FxT


What happened to your confidence FxTraveller?


When, after my most successful trading month ever (January) I lost 2/3rds of profit in 2 trades in February. Confidence in the tool (zlines concept) is still rock solid, but my confidence as a user of the tool took a blow.

I still got a problem with my abominable R/R ratio. furthermore, I'd start to forget about the big picture and looking mostly at H1 and M15, and going long where there was the most OBVIOUS zline SHORT visible on D1.

So the losses forced me to remember you saying (over and over again):

- Big charts rule the markets
- the more you 'zoom in'/use smaller TF, the more MOMO analysis loses value

- not waiting for the wick in D of Loss and body in D of profit is MUCH riskier.

- (from another thread)- if your trade lasts on average less than 20 minutes- then you are trading with scared money.
and I AM trading with scared money (even 0.01 lots- just hate losing)

looking at H4/D1 charts I am looking at increasing my Reward, with Risk staying roughly the same at about 25-40 pips.

Regards.
FxT


You need to rethink things :wink:

The only loss that you can take is when you are forced to size down your lots.
The only gain that you can take is when you are able to increase your lot size.

What happens between sizing down and increasing lot sizes is irrelevant.

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Re: EJ H4

Postby Fxtraveller » Wed Mar 03, 2010 11:10 pm

MightyOne wrote:
Fxtraveller wrote:
MightyOne wrote:
Fxtraveller wrote:Getting my confidence back.

Mighty, how's the analysis? Bodies show the way, wicks in direction of loss, candles failing to close above resistance.
cheers.
FxT


What happened to your confidence FxTraveller?


When, after my most successful trading month ever (January) I lost 2/3rds of profit in 2 trades in February. Confidence in the tool (zlines concept) is still rock solid, but my confidence as a user of the tool took a blow.

I still got a problem with my abominable R/R ratio. furthermore, I'd start to forget about the big picture and looking mostly at H1 and M15, and going long where there was the most OBVIOUS zline SHORT visible on D1.

So the losses forced me to remember you saying (over and over again):

- Big charts rule the markets
- the more you 'zoom in'/use smaller TF, the more MOMO analysis loses value

- not waiting for the wick in D of Loss and body in D of profit is MUCH riskier.

- (from another thread)- if your trade lasts on average less than 20 minutes- then you are trading with scared money.
and I AM trading with scared money (even 0.01 lots- just hate losing)

looking at H4/D1 charts I am looking at increasing my Reward, with Risk staying roughly the same at about 25-40 pips.

Regards.
FxT


You need to rethink things :wink:

The only loss that you can take is when you are forced to size down your lots.
The only gain that you can take is when you are able to increase your lot size.

What happens between sizing down and increasing lot sizes is irrelevant.


AH!
THis way of seeing things is SO different from anything else I heard and read that its difficult to 'digest', but I like it. In fact, I like all the information that you shared on zlines and momentum ('the basics' :) (im not able to appreciate such things as diamond perception even by 0.1%...yet)

I got 900 euros in my live a/c. trading with 0.02-0.03s I risk less than 1% at anytime (3-5 euros). If I stay like that and drain slowly my a/c - would that still be irrelevant? :D just joking.

It is a very positive way of looking and I'll try to adopt it, however it will require patience since im not in a position to increase my lotsize anytime soon (however, patience is one thing that I've got in abundance).

'Closed bodies (on higher TFs) show the way'

All the best MO.
Will keep posting charts with what I see and hope that you will spend a brief moment commenting on them.

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Postby Fxtraveller » Wed Mar 03, 2010 11:38 pm

hope the price goes up, then I have an idea of what to do... =]
Attachments
ej fore.gif
ej fore.gif (18.48 KiB) Viewed 1415 times

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MightyOne
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Postby MightyOne » Thu Mar 04, 2010 11:38 am

Fxtraveller wrote:hope the price goes up, then I have an idea of what to do... =]


With wicks in both directions and EQ, I would wait for momo one way or the other before considering a position on the daily EJ.

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Postby cfabian » Thu Mar 04, 2010 4:51 pm

Well, it's been a terrible week for me. This is my only trade from today, and it was loser. Was following the up momo from 2 days ago, price reacted at my marked area where I looked for a retracement and followed with my long entry at the breakout of a candle. I could only see +5 in that trade. Didn't move my SL for obvious reasons.


My encouragement for trading has been diminished for obvious reasons. Sick and tired about my results. Don't know what else to do. Probably this thing is definitely not for me... who knowns!!!


Image
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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es/pip
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Postby es/pip » Thu Mar 04, 2010 5:48 pm

cfabian wrote:Well, it's been a terrible week for me. This is my only trade from today, and it was loser. Was following the up momo from 2 days ago, price reacted at my marked area where I looked for a retracement and followed with my long entry at the breakout of a candle. I could only see +5 in that trade. Didn't move my SL for obvious reasons.


My encouragement for trading has been diminished for obvious reasons. Sick and tired about my results. Don't know what else to do. Probably this thing is definitely not for me... who knowns!!!


Image



i was not looking at the same thing that you were looking at and for slightly different reasons i was trading that area as well

that was a little tricky and i got caught for -6 and -10, and then finally caught some on the way up and then short back down

tricky area----

it found some support at the yellow line then the previous support became resistance--red lines--- right where you bought into it.

trading is not for everyone, but i say dont give up.

in order to make it you have to keep on pushing through the hard times. The desire to make it has to be in your blood---- you have to want it no matter what.

it took me many years to get to where i am at

Image
Bend over and assume the position for another 4 years of hope and change.

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