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

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poipen
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Postby poipen » Wed Mar 10, 2010 6:25 am

MightyOne wrote:
poipen wrote:i hate to be a "leecher" but can anyone point me in the direction of where MO starts explaining Z-lines in the "never lose again" thread?

Btw great trading Fxtraveller ;)


1. Momentum crosses a line to the short side (lines are imaginary :lol:)

2. Price recrosses said line

3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).

4. wait for momentum.

5. liquidate at/below the lowest price.

Now lets say that you got your momo and the next candle broke out and then closed higher than the low extreme.

You can now look for long trades as price has shown an unwillingness to trade lower.

1. wait for momo

2. liquidate at/above the highest prices.

Oh, I saved you so much time :wink:



haha thanks MO! i have some studying to do :D

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scratty
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Postby scratty » Wed Mar 10, 2010 7:41 am

Hi MO

This point 3 makes the difference between trading whats happening or just based on fixed rules. Is the wick in direction of loss going to stay and how likely is it? Thats is where the experience comes into play and what the beginner should try to focus on learning...

3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).


very helpful, thanks!


MightyOne wrote:
poipen wrote:i hate to be a "leecher" but can anyone point me in the direction of where MO starts explaining Z-lines in the "never lose again" thread?

Btw great trading Fxtraveller ;)


1. Momentum crosses a line to the short side (lines are imaginary :lol:)

2. Price recrosses said line

3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).

4. wait for momentum.

5. liquidate at/below the lowest price.

Now lets say that you got your momo and the next candle broke out and then closed higher than the low extreme.

You can now look for long trades as price has shown an unwillingness to trade lower.

1. wait for momo

2. liquidate at/above the highest prices.

Oh, I saved you so much time :wink:
Lose professionally!

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poipen
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zline?

Postby poipen » Wed Mar 10, 2010 7:54 am

MightyOne wrote:
poipen wrote:i hate to be a "leecher" but can anyone point me in the direction of where MO starts explaining Z-lines in the "never lose again" thread?

Btw great trading Fxtraveller ;)


1. Momentum crosses a line to the short side (lines are imaginary :lol:)

2. Price recrosses said line

3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).

4. wait for momentum.

5. liquidate at/below the lowest price.

Now lets say that you got your momo and the next candle broke out and then closed higher than the low extreme.

You can now look for long trades as price has shown an unwillingness to trade lower.

1. wait for momo

2. liquidate at/above the highest prices.

Oh, I saved you so much time :wink:


would this have been a proper Zline trade if it was taken on the candle with a down arrow?

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es/pip
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Re: zline?

Postby es/pip » Wed Mar 10, 2010 8:06 am

poipen wrote:
MightyOne wrote:
poipen wrote:i hate to be a "leecher" but can anyone point me in the direction of where MO starts explaining Z-lines in the "never lose again" thread?

Btw great trading Fxtraveller ;)


1. Momentum crosses a line to the short side (lines are imaginary :lol:)

2. Price recrosses said line

3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).

4. wait for momentum.

5. liquidate at/below the lowest price.

Now lets say that you got your momo and the next candle broke out and then closed higher than the low extreme.

You can now look for long trades as price has shown an unwillingness to trade lower.

1. wait for momo

2. liquidate at/above the highest prices.

Oh, I saved you so much time :wink:


would this have been a proper Zline trade if it was taken on the candle with a down arrow?


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Postby poipen » Wed Mar 10, 2010 8:18 am

i think im starting to see it, thank you for your response es/pip, im done for the night though. Talk to yo all in the morning hopefully!
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Postby adaseb » Wed Mar 10, 2010 3:23 pm

poipen wrote:i think im starting to see it, thank you for your response es/pip, im done for the night though. Talk to yo all in the morning hopefully!


Whatever you do just don't trade off the M5 timeframe. If the higher timeframes were saying short then you could of entered there.

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Postby ***FX-JEDI*** » Thu Mar 11, 2010 11:48 am

Still in GBP/JYP.

What a Beautiful setup :-) big momentum on NFP day, next day a Bearish Key Reversal Day, good indication to ride short down to Bullish Zline, then last 2 days nice wicks in direction of loss. I would even call it a Bullish KR day since both lows were at 133.91 and bullish day close higher the bearish, so today a bullish Bias should be considered :-)

nice post FX Traveller always good to do a bit of revision...

Cheers ***FX-JEDI***
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Postby tmanbone » Thu Mar 11, 2010 8:53 pm

***FX-JEDI*** wrote:Still in GBP/JYP.

What a Beautiful setup :-) big momentum on NFP day, next day a Bearish Key Reversal Day, good indication to ride short down to Bullish Zline, then last 2 days nice wicks in direction of loss. I would even call it a Bullish KR day since both lows were at 133.91 and bullish day close higher the bearish, so today a bullish Bias should be considered :-)

nice post FX Traveller always good to do a bit of revision...

Cheers ***FX-JEDI***


Someone is studying the Gartley patterns? Interesting. I stole a nice indi of off FF that shows the gartleys. Just getting into them myself.
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Postby cfabian » Thu Mar 11, 2010 10:21 pm

Darn... closed it as didn't like PA on 5M, I was expecting more speed. Bullish bodies where showing smaller... closed it and then boooom!!!!! 50 pips away... it did hit my target.

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"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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Postby cfabian » Thu Mar 11, 2010 10:28 pm

Another one.... was +17, then retraced and hit my SL which was moved to BE.

Should've, would've, blahh blahh blahh

However, I think I kind of agree with dragon on moving SL to +1 when in profit by certain amount (guess he mentioned 8 pips). I like something like +15. Better that than turning a profitable into loser. If is a clean entry, wont have any problem (as would've been at the beginning of previous H1).


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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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