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

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noone22
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Postby noone22 » Thu Mar 25, 2010 1:01 pm

es/pip wrote:I agree that fibs dont matter


OK, discretiaonal traders don't believe in Fibs.

The most funny definition of Fib and pivot lines,
I've ever heard is something like this:

They don't exist in reality, they are imaginery,
calculated & created by some "gurus",
exist on paper and in the books only,
but because too many traders read and heard about them,
they (traders) are watching these levels and putting
their orders (both Buy & Sell ones) in close proximity
of these lines, and that's why they (lines) are working for some
or not working for the majority of others.

It's seems to be some kind of special "zero-fib-line",
where ones are taking profit, and others are grabbing
profit from them.

I'm not discretional trader, but I'm starting to believe
in the above definition more & more.

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es/pip
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Postby es/pip » Thu Mar 25, 2010 1:06 pm

and that's why they (lines) are working for some
or not working for the majority of others.



the people that make them work are using them as a "crutch" combined with the PA to the left---- when in reality they could just discard them all together

the ones that cant make them work are using them alone and trusting some random % pullback

in my opinion
Bend over and assume the position for another 4 years of hope and change.

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newark18
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Postby newark18 » Thu Mar 25, 2010 1:18 pm

Wow, I've been sitting down and reading (trying to absorb as much of MO's posts and ES/PIP's posts as possible). And I have definitely learned alot. But I still have much more reading to do. One question to those who follow bodies in the direction of profit and wicks in the direction of loss. The candle with the body in the direction of profit closes. And the next candle showing the wick in the direction of loss forms. I assume that we must let this candle close to ensure it is a wick in the direction of loss. And then try to enter somewhere in the wick during the following (3rd candle). Can someone please confirm? Thanks.
Failure is an opportunity to learn.

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Braathen
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Postby Braathen » Thu Mar 25, 2010 1:23 pm

In my opinion trade what you see..
i can make a million predictions with
fibs.. mz's.. momo bars ..whatever...
but it all comes down to what price does..
i will follow PA to my grave.. but never would i stick my hard earned money on a tool that just defines
% pullbacks on 100% of a move... or any tool for that matter ..again i have no previous experience from forex other then zlines.. everything i looked at before inc fibs i discarded very fast.
"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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es/pip
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Postby es/pip » Thu Mar 25, 2010 1:27 pm

newark18 wrote:Wow, I've been sitting down and reading (trying to absorb as much of MO's posts and ES/PIP's posts as possible). And I have definitely learned alot. But I still have much more reading to do. One question to those who follow bodies in the direction of profit and wicks in the direction of loss. The candle with the body in the direction of profit closes. And the next candle showing the wick in the direction of loss forms. I assume that we must let this candle close to ensure it is a wick in the direction of loss. And then try to enter somewhere in the wick during the following (3rd candle). Can someone please confirm? Thanks.


the zl is marking where the held profit is----- it is also just a line--- a line in the sand

you want to be in as close to the line as you can

but the line is not an entry signal
Bend over and assume the position for another 4 years of hope and change.

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Braathen
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Postby Braathen » Thu Mar 25, 2010 1:27 pm

Oh and look es/pip.. we made it.. and i even took a 40 pip short last night on it..up and down.. up and down :P
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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Brookmyre
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Postby Brookmyre » Thu Mar 25, 2010 1:28 pm

es/pip wrote:just cant seem to get that 123.25 on the e/j to save my life----- :D

Annnnnnnndddddd............made it :)
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

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Postby Fxtraveller » Thu Mar 25, 2010 1:35 pm

Brookmyre wrote:
es/pip wrote:just cant seem to get that 123.25 on the e/j to save my life----- :D

Annnnnnnndddddd............made it :)



YA! without me, chickened out with -3 ;(

Oh well, that life

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Braathen
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Postby Braathen » Thu Mar 25, 2010 1:36 pm

No worries FX m8.. your doing well man.. keep it up!
"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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es/pip
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Postby es/pip » Thu Mar 25, 2010 1:36 pm

Brookmyre wrote:
es/pip wrote:just cant seem to get that 123.25 on the e/j to save my life----- :D

Annnnnnnndddddd............made it :)




lol

wasnt in this---- missed it--- too busy CRUSHING the euro----- 8)

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

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