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

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PTG
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Postby PTG » Wed Nov 11, 2009 9:18 pm

Image

:smt003
This is my new signature: "new signature".

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Brookmyre
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Postby Brookmyre » Wed Nov 11, 2009 11:16 pm

PTG wrote:Image

:smt003
Thats Funny...


Lukx.....I've been attempting to get together all the notes that I've made over the last few months so I can read thru everything I thought was important before writing out my own trading plan.....Yesterday while going thru some files I found the original archived BabyPips thread that is at the beginning of NLA and started rereading it. Im only a few pages into it but I've already found a bunch of things that I thought were important that I had completely forgotten about. It definitly worth reading it if you missed it on your first time thru the thread.....

This is a post of TROs from the very first page...

Can you fill in the blanks:


1) I will NOT trade if/when __________________________________________

2) I will ONLY trade LONG if/when ____________________________________

3) I will ONLY trade SHORT if/when ___________________________________

4) I will STOP trading for the day if/when ______________________________

5) I will STOP trading if I lose ____ pips or _____ trades in a row or $_______

6) I will STOP trading if i make ____ pips or _____ trades in a row or $______

7) I ONLY trade between the hours of _____ and _____

8) I ONLY trade on Sun( ) Mon( ) Tues( ) Wed( ) Thur( ) Fri( ) Sat( )

9) I will NEVER trade if/when ________________________________________

10) I ALWAYS do this BEFORE I begin trading ___________________________

I'll definitely be using this as my own template before I begin trading live. For me the questions like no. 9 forcing me to think about when I WONT do something is the most important...cause I've thought a LOT more about what I will do rather than what I WONT do and why.

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cfabian
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Postby cfabian » Thu Nov 12, 2009 4:11 am

espip,
tiering the story together from multiple TF is where many of us get lost. Each TF is different story. A good setup in determined TF is a kick in the but in another one. Thus I wonder if you can examplify some trades by drilling down your analisis from higher TF to your M5 - M15 (or your entry TF) just as dragon has done it with his approach? It will be extremely beneficial.

Cheers



es/pip wrote:
lukx wrote:Yes I checked 1H and I was in zl like it supposed to be, I entered at 15m zl.
Trading plan based on what dragon wrote. (check 1h for zl, enter on 15mzl) I forgot about the rule about entering short when blow pervious daily close and long above. Today it would worked but yesterday it didn't.
RR around 1:3


this most likely will be a waste of time since you still don't have your emotions under control

but


show me your h1 chart that shows " Yes I checked 1H and I was in zl like it supposed to be"

then post a h4 chart underneath it-- and tell me what those bars mean

then make your argument AGAIN---BASED of YOUR CHARTS

then i will post mine

it will be later today or tonight when i respond, have to take care of some things

post your charts
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 Nov 12, 2009 4:34 am

cfabian wrote:espip,
tiering the story together from multiple TF is where many of us get lost. Each TF is different story. A good setup in determined TF is a kick in the but in another one. Thus I wonder if you can examplify some trades by drilling down your analisis from higher TF to your M5 - M15 (or your entry TF) just as dragon has done it with his approach? It will be extremely beneficial.

Cheers



es/pip wrote:
lukx wrote:Yes I checked 1H and I was in zl like it supposed to be, I entered at 15m zl.
Trading plan based on what dragon wrote. (check 1h for zl, enter on 15mzl) I forgot about the rule about entering short when blow pervious daily close and long above. Today it would worked but yesterday it didn't.
RR around 1:3


this most likely will be a waste of time since you still don't have your emotions under control

but


show me your h1 chart that shows " Yes I checked 1H and I was in zl like it supposed to be"

then post a h4 chart underneath it-- and tell me what those bars mean

then make your argument AGAIN---BASED of YOUR CHARTS

then i will post mine

it will be later today or tonight when i respond, have to take care of some things

post your charts



it is as simple as looking up and then left

if you are trading the m5 chart---ALONE

you look UP-- m15 and higher and then look left

is the m5 momo into a m15 opposite momo?

if so then you should not take the m5 momo to be correct

if i see m15 momo long so now i am thinking long, i then look up to the higher time frames and see if it is directly back into a m30 opposite momo


if so then i disregard the m15 and look short off the higher time frame

Image

Image

Image

Image


when you trade against the momo it needs to be as close to the bottom/top as you can get in bec it is less risky, after that then you are looking to play off the dominate momo--- ie higher time frame

these are not the best examples of what i am trying to say------


this is what MO is saying when he says --- not sure if this is exact---- " you can get fooled on one time frame but not on all time frames"--- or something like that

ie

it looks like momo on m5 but it is not bec of the higher time frames
Bend over and assume the position for another 4 years of hope and change.

Humble
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Postby Humble » Thu Nov 12, 2009 5:17 am

Getting my head around time frames has been another interesting brain exercise.

If I've got it about right then, when trading the 1hr the 4hr is the higher T/F and the 15m the lower. For those of us not trading against the memo referred to by es/pip above, basically to enter a trade the memo should be in the same direction for all 3 T/Fs.

Why? - Well the higher T/F has an influence over the h1's outcome and it's unwise to trade against the higher T/F's memo. The lower, well if it has memo going in the opposite direction to you proposed h1 trade, you may as well let it play out first. This will save drawdown on the h1 trade by using the 15m pullback to enter. To me the point about getting into a trade with memo is that it gets you in with a quick initial move away from your S/L. Now if you have entered a h1 trade going north, it is impossible for the h1 to turn south whilst the m15 is going north.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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lukx
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Postby lukx » Thu Nov 12, 2009 5:23 am

thanks es/pip, it's getting more clear now... So far I though that when I'm starting to get momo on LOWER TF that is opposite to momo on higher I should be concerned and trade in direction of the one from lower. I was wrong.

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lukx
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Postby lukx » Thu Nov 12, 2009 5:59 am

SHORT:
Image

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lukx
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Postby lukx » Thu Nov 12, 2009 6:00 am

on higher tf I got momo down I guess I'm good to go:
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lukx
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Postby lukx » Thu Nov 12, 2009 6:57 am

guess NOT.
LOSS:
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lukx
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Postby lukx » Thu Nov 12, 2009 7:31 am

SHORT again:
Image

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