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

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lukx
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Postby lukx » Thu Nov 12, 2009 10:24 am

well it was close to TP but still LOSS:

why I didn't take profit, I tell you why , because I was doing what the grate mightyone said one day: r/r 1:4 . so I did tp 56pisp ls 14.

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PTG
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Postby PTG » Thu Nov 12, 2009 10:53 am

My rule of thumb is at least 1:3
If you want to have at least 1:4 (nothing wrong with that) you need to check before you trade.

Have a look below. The yellow line is the top of a demand area. Why ? Because price has bounced off it (twice in this picture). You were selling into a demand zone !

You need to place your trades into thet bigger perspective (imho). Knowing that zone would have made you think twice because the R/R was lower than 1:4 !

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This is my new signature: "new signature".

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es/pip
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Postby es/pip » Thu Nov 12, 2009 1:39 pm

lukx wrote:well it was close to TP but still LOSS:

why I didn't take profit, I tell you why , because I was doing what the grate mightyone said one day: r/r 1:4 . so I did tp 56pisp ls 14.

Image



but

when the market is saying " i'm not going down anymore and i am now going to go up"

you need to take profit and or go long


you cant just stay in bec you think it is gong to keep going down


what is the market saying

you are short off the line before A, you get momo on A

B----- what does this bar mean---- decrease in momo with the wick--- no way i am still in that short
C----- increase in momo off the bottom after the rev. bar= not short poss. long
D--- looking to short into this bar due to the momo off of A
E and F---- no good momo into the low= exit short and poss trade long
G----- momo up going to trade long no way in hell i am still short

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

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lukx
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Postby lukx » Thu Nov 12, 2009 2:11 pm

SHORT:
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lukx
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Postby lukx » Thu Nov 12, 2009 5:09 pm

PROFIT:
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Postby frang0nve » Thu Nov 12, 2009 5:24 pm

Hi Lukx,

CONGRATULATIONS

I don't know if you watched the live price action....

If you did your discipline has been tested quite hardly.

Cheers

Francisco

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

actually I didn't I set limit order before going to gym :)

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Postby cfabian » Fri Nov 13, 2009 1:14 am

Thanks for this explanation espip, when you get a chance please post some more. They are really helpful... I know it takes time, so I appreciate it in advance.

Cheers

es/pip wrote:
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
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

Brookmyre
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Postby Brookmyre » Fri Nov 13, 2009 1:51 am

cfabian wrote:Thanks for this explanation espip, when you get a chance please post some more. They are really helpful... I know it takes time, so I appreciate it in advance.

Cheers

es/pip wrote:
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


Just want to second that es/pip....I know you've posted a ton of charts :D but I found your explanation of these particularly helpfull. Thanks

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lukx
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Postby lukx » Fri Nov 13, 2009 3:45 am

true , true es/pip, your last chart was the one of the best ones.

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