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

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adaseb
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Postby adaseb » Tue Mar 09, 2010 8:01 am

I see

thanks

dragon33 wrote:
adaseb wrote:Hey just wondering what the white lines are referred to?

The ones at 1.5190 an 1.5125?


dragon33 wrote:Image

I will try to do my best to post some losers but when you read your charts properly and you can take profit when it is there then it is hard to lose. If you will not lose there is always a possibility of hedging your way out.


The previous extremes that could be hit if price continue that way. Those are picke from an H1 chart and tuned on the M15. If price stops just before those lines i close my trades by hand.

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Postby Fxtraveller » Tue Mar 09, 2010 8:17 am

bigger charts rule. made only 34 pips in a 100+ pips move though. need to have more confidence and hold on to the trades :(
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adaseb
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Postby adaseb » Tue Mar 09, 2010 9:32 am

Fxtraveller wrote:bigger charts rule. made only 34 pips in a 100+ pips move though. need to have more confidence and hold on to the trades :(


Hey I noticed you do alot of these shorting/longing at the old breakouts points. Just wondering do you only do it for GU or do you try it on other pairs also?

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bredin
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Postby bredin » Tue Mar 09, 2010 10:06 am

Im mostly happy with this supply/demand indicator (the rectangles) in conjunction with a zline indi.

Id like some feedback on the s/d indi, I do know its not perfect.... :? and not ready for release, before someone asks :-

Image

BTW thats an H1 EJ chart,

here is the same EJ chart but H4, s/d and zl are still H1, in case that causes some confusion.

Image

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Braathen
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Postby Braathen » Tue Mar 09, 2010 10:28 am

Hey guys! Hope everyone is doing well!
Just like to share my most recent trade. Been very busy lately so aint posting too much.
So short of S&R/Zline (i used 6h).. came down to the 15m and found my body in the direction of profit.

Image

**Edit** Sorry for the bad quailty pic
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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Postby Fxtraveller » Tue Mar 09, 2010 12:06 pm

adaseb wrote:
Fxtraveller wrote:bigger charts rule. made only 34 pips in a 100+ pips move though. need to have more confidence and hold on to the trades :(


Hey I noticed you do alot of these shorting/longing at the old breakouts points. Just wondering do you only do it for GU or do you try it on other pairs also?


Hi adaseb.
The trades in the earlier post are actually EJ ;) I trade EJ and GU only!

We all know that 'the more volatility, the more potential profit'.
MO, somewhere on babypips, gave the list of the best (ie most volatile) pairs:

1) GBPCHF
2)GJ
3)GU
4) something, cant remember
5) EJ

I stick to 2 pairs that I am reasonobaly familiar and comfortable with.

Also, lets not forget that a zline is where long- term trader's profit run out.

The (true) break out point (esp. on higher TF)- is the most obvious point of entry. Hence its the most obvious zline (in my opinion)

This is MO's quotes from NLA and this thread:

'Zero line is simply a breakout, it doesn't matter where so long as price did not move to it to the right of the chart. '

'If you see a breakout and you can imagine your self sitting with profit after moving your stops to BE then that is a ZL'

'The only thing that matters is that price is continually closing in the direction you are looking to trade based on a point of reference.

Wicks reject areas and bodies explore them.

By looking at different time frame charts you can figure out how far into the forest traders are exploring before turning back to the reference line.

All I am saying is don't get overly technical because there are only two choices and one of them makes money
'

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Postby Fxtraveller » Tue Mar 09, 2010 12:16 pm

Actually, lets re-cap some of the basics, shall we? (most of it is MO's, but some es/pip and dragon's):

Bodies show the way

Wicks show the way not

~Bodies show the way when they close beyond the previous bars extreme price.
~Bodies show the way when they are compared to other bodies in the recent past.
~Wicks show the way not when they retreat from the Mighty Zone
~Wicks show the way not when, after MOMO, there is a breakout and price fails to close beyond the extreme.
Wicks scramble the picture you are trying to see.

The further you get away from momo the less useful it becomes'


--------------------
EQ stands for Extreme Quietness which are at least 3 consecutive bodies that are noticeably smaller than average non-momentum bodies.

After a period of extreme quietness, above average non-momentum can temporarily be considered momentum.

Normal market speed is as walking and running while EQ and larger non-momentum is as sleeping and falling out of bed.
------------------------


No matter how many times I tell all of you to analyze the longer term charts you insist on doing things your own way and getting "your way results"
WAIT, take a trade, WAIT, reduce risk, WAIT, exit

It helps to check the 4 hour & day charts so that you know where you are in the grand picture

A chart is a chart...it happens in every time frame!

----------------------

Success is a waiting game:

WAIT, take a trade, WAIT, reduce risk, WAIT, exit.

From the time you enter to the time you exit manually should not be less than 20 minutes.

If you are not in most of your trades for longer than 20 minutes then you are just trading scared and fear does not make money.


---------------------


Can you imagine placing a trade to profit in a direction where there is almost no money left?

Consider that a professional will risk 1-2% of his account.

This means that when price moves a number of pips that equals ~2% of his account that he is out of the market and NO MORE of his money can be gained by any other trader.

So where do your massive profits come from?

The answer is the medium and long term traders who are IN PROFIT with medium to HUGE stop losses!
As day traders we each take turns filling the gap on these traders while at the same time filling the gap on other day traders using smaller charts!

Support and resistance just means that the money ran out in the direction being traded and for the size of the traders being targeted at that moment.

Can you hear the cries of "why can't I make money in Forex?"

Children of the stop loss...
what beautiful music they make! -Dracula trading Forex
------------------------

You are so used to losing that I believe you expect to lose
even before you place your trade.

When I come to the chart I expect to win dmmit!
Not only to I expect to win I expect to win 20 or more times in a row!

Before I place a trade I see my self in profit and I have a very good idea as to how and where I want to exit.
I predict situations that I might face in the next 20m or so and I plan for them.
I am not only one step ahead of the other traders I am one step ahead of my self.

Yes, It really is too easy:

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Postby Fxtraveller » Tue Mar 09, 2010 12:44 pm

And some pics from all over to re-visit
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Fxtraveller
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Postby Fxtraveller » Tue Mar 09, 2010 12:48 pm

And more stuff
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Fxtraveller
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Postby Fxtraveller » Tue Mar 09, 2010 12:52 pm

Last lot ;)

The breakout ZLine on a higher TF is the one im most comfy trading.

Good luck.
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