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

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adaseb
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Postby adaseb » Wed May 12, 2010 7:06 pm

lazygeorge wrote:Hi All,

Im in this short on GU,could someone please tell me if im seeing this correctly...will post more charts in due course just to make sure im getting the whole zline concept....

Image

could have also added more here looking at the 5 min.....am i seeing this right....any advice welcome.....

Image


Yeah that was a good entry. Make sure it will break most recent low that was form about 4 hours ago.

Make sure it doesn't form support there.

If it does. GET OUT

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Postby lazygeorge » Wed May 12, 2010 7:33 pm

adaseb wrote:
lazygeorge wrote:Hi All,

Im in this short on GU,could someone please tell me if im seeing this correctly...will post more charts in due course just to make sure im getting the whole zline concept....

Image

could have also added more here looking at the 5 min.....am i seeing this right....any advice welcome.....

Image


Yeah that was a good entry. Make sure it will break most recent low that was form about 4 hours ago.

Make sure it doesn't form support there.

If it does. GET OUT
Thanks adaseb,just wanna make sure about seeing zlines properly,i know you and es pip scalp on a shorter timeframe but you guys are very good.

what would you advise about which time frame to pull the trigger on,i understand about MTF analysis and knowing where we've come from
but my problem would be not quantifying how long to stay in a trade if i've taken a trade off a 1hr zline as oppose to how long for a trade off a 4hr zline.

Or is it as simple as no matter what zline it is,if i get a 5min candle close against me then get out...what im trying to say is do whatever price action tells me to do right???

The low you are talking about adaseb is aprox....4817??

i got out at 4818 for +35

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adaseb
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Postby adaseb » Wed May 12, 2010 7:43 pm

lazygeorge wrote:
adaseb wrote:
lazygeorge wrote:Hi All,

Im in this short on GU,could someone please tell me if im seeing this correctly...will post more charts in due course just to make sure im getting the whole zline concept....

Image

could have also added more here looking at the 5 min.....am i seeing this right....any advice welcome.....

Image


Yeah that was a good entry. Make sure it will break most recent low that was form about 4 hours ago.

Make sure it doesn't form support there.

If it does. GET OUT
Thanks adaseb,just wanna make sure about seeing zlines properly,i know you and es pip scalp on a shorter timeframe but you guys are very good.

what would you advise about which time frame to pull the trigger on,i understand about MTF analysis and knowing where we've come from
but my problem would be not quantifying how long to stay in a trade if i've taken a trade off a 1hr zline as oppose to how long for a trade off a 4hr zline.

Or is it as simple as no matter what zline it is,if i get a 5min candle close against me then get out...what im trying to say is do whatever price action tells me to do right???

The low you are talking about adaseb is aprox....4817??

i got out at 4818 for +35


It doesn't matter what timeframe you trade off extremes, support, resistance, zerolines, mightyzones, etc. The game is pretty much the same.

The only difference is that if you trade a daily chart you can hope to gain over 100 pips and use a larger stop loss such as 30-40 pips.

While on a 5M chart, you would rather be happy with 15-20 pips using a smaller <10 pip stop.

Timeframes fall inside other timeframes and so do all these mightyzones and zerolines. Hence if your using a smaller timeframe make sure you know whats going on, on a higher time frame.


Regarding where to exit thats a hard question to answer. We all would be millionaire billionaire traders if we all had good exits and crappy entries.

Set a target and see if it hits it, if it doesn't see if there is some support developing. Some people like certain number such as +100, so they automatically exit there.

Also if you enter a trade around this time, don't expect much movement since its the NY close. It's best to trade during the London-NY session. You can trade the asian session if you're a patient individual.

And yes I was talking about that 4817 support.

lazygeorge
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Postby lazygeorge » Wed May 12, 2010 8:09 pm

adaseb wrote:
lazygeorge wrote:
adaseb wrote:
lazygeorge wrote:Hi All,

Im in this short on GU,could someone please tell me if im seeing this correctly...will post more charts in due course just to make sure im getting the whole zline concept....

Image

could have also added more here looking at the 5 min.....am i seeing this right....any advice welcome.....

Image


Yeah that was a good entry. Make sure it will break most recent low that was form about 4 hours ago.

Make sure it doesn't form support there.

If it does. GET OUT
Thanks adaseb,just wanna make sure about seeing zlines properly,i know you and es pip scalp on a shorter timeframe but you guys are very good.

what would you advise about which time frame to pull the trigger on,i understand about MTF analysis and knowing where we've come from
but my problem would be not quantifying how long to stay in a trade if i've taken a trade off a 1hr zline as oppose to how long for a trade off a 4hr zline.

Or is it as simple as no matter what zline it is,if i get a 5min candle close against me then get out...what im trying to say is do whatever price action tells me to do right???

The low you are talking about adaseb is aprox....4817??

i got out at 4818 for +35


It doesn't matter what timeframe you trade off extremes, support, resistance, zerolines, mightyzones, etc. The game is pretty much the same.

The only difference is that if you trade a daily chart you can hope to gain over 100 pips and use a larger stop loss such as 30-40 pips.

While on a 5M chart, you would rather be happy with 15-20 pips using a smaller <10 pip stop.

Timeframes fall inside other timeframes and so do all these mightyzones and zerolines. Hence if your using a smaller timeframe make sure you know whats going on, on a higher time frame.


Regarding where to exit thats a hard question to answer. We all would be millionaire billionaire traders if we all had good exits and crappy entries.

Set a target and see if it hits it, if it doesn't see if there is some support developing. Some people like certain number such as +100, so they automatically exit there.

Also if you enter a trade around this time, don't expect much movement since its the NY close. It's best to trade during the London-NY session. You can trade the asian session if you're a patient individual.

And yes I was talking about that 4817 support.
Cheers for your comments adaseb......

Im in the uk so i dont have much time during those sessions you mentioned coz of work.....i miss all of london and early part of ny...asian session is my sleep time..

when im as good as es pip, dragon and yourself and trade this for a living then london/ny sessions will be fun in the meantime i just have to do this at this time,any suggestions...

your right about it being dead,look at the 5 min candles for the gu in the last hr or so ](*,)

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Postby adaseb » Wed May 12, 2010 8:19 pm

lazygeorge wrote:
adaseb wrote:
lazygeorge wrote:
adaseb wrote:
lazygeorge wrote:Hi All,

Im in this short on GU,could someone please tell me if im seeing this correctly...will post more charts in due course just to make sure im getting the whole zline concept....

Image

could have also added more here looking at the 5 min.....am i seeing this right....any advice welcome.....

Image


Yeah that was a good entry. Make sure it will break most recent low that was form about 4 hours ago.

Make sure it doesn't form support there.

If it does. GET OUT
Thanks adaseb,just wanna make sure about seeing zlines properly,i know you and es pip scalp on a shorter timeframe but you guys are very good.

what would you advise about which time frame to pull the trigger on,i understand about MTF analysis and knowing where we've come from
but my problem would be not quantifying how long to stay in a trade if i've taken a trade off a 1hr zline as oppose to how long for a trade off a 4hr zline.

Or is it as simple as no matter what zline it is,if i get a 5min candle close against me then get out...what im trying to say is do whatever price action tells me to do right???

The low you are talking about adaseb is aprox....4817??

i got out at 4818 for +35


It doesn't matter what timeframe you trade off extremes, support, resistance, zerolines, mightyzones, etc. The game is pretty much the same.

The only difference is that if you trade a daily chart you can hope to gain over 100 pips and use a larger stop loss such as 30-40 pips.

While on a 5M chart, you would rather be happy with 15-20 pips using a smaller <10 pip stop.

Timeframes fall inside other timeframes and so do all these mightyzones and zerolines. Hence if your using a smaller timeframe make sure you know whats going on, on a higher time frame.


Regarding where to exit thats a hard question to answer. We all would be millionaire billionaire traders if we all had good exits and crappy entries.

Set a target and see if it hits it, if it doesn't see if there is some support developing. Some people like certain number such as +100, so they automatically exit there.

Also if you enter a trade around this time, don't expect much movement since its the NY close. It's best to trade during the London-NY session. You can trade the asian session if you're a patient individual.

And yes I was talking about that 4817 support.
Cheers for your comments adaseb......

Im in the uk so i dont have much time during those sessions you mentioned coz of work.....i miss all of london and early part of ny...asian session is my sleep time..

when im as good as es pip, dragon and yourself and trade this for a living then london/ny sessions will be fun in the meantime i just have to do this at this time,any suggestions...

your right about it being dead,look at the 5 min candles for the gu in the last hr or so ](*,)


yeah its not a good time to be in a trade. Normally these the 2 hours after the NY close and Asian open. There can be wild whipsaws that will usually stop you out.

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Thank you for your support.

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Postby lazygeorge » Wed May 12, 2010 8:43 pm

adaseb wrote:
lazygeorge wrote:
adaseb wrote:
lazygeorge wrote:
adaseb wrote:
lazygeorge wrote:Hi All,

Im in this short on GU,could someone please tell me if im seeing this correctly...will post more charts in due course just to make sure im getting the whole zline concept....

Image

could have also added more here looking at the 5 min.....am i seeing this right....any advice welcome.....

Image


Yeah that was a good entry. Make sure it will break most recent low that was form about 4 hours ago.

Make sure it doesn't form support there.

If it does. GET OUT
Thanks adaseb,just wanna make sure about seeing zlines properly,i know you and es pip scalp on a shorter timeframe but you guys are very good.

what would you advise about which time frame to pull the trigger on,i understand about MTF analysis and knowing where we've come from
but my problem would be not quantifying how long to stay in a trade if i've taken a trade off a 1hr zline as oppose to how long for a trade off a 4hr zline.

Or is it as simple as no matter what zline it is,if i get a 5min candle close against me then get out...what im trying to say is do whatever price action tells me to do right???

The low you are talking about adaseb is aprox....4817??

i got out at 4818 for +35


It doesn't matter what timeframe you trade off extremes, support, resistance, zerolines, mightyzones, etc. The game is pretty much the same.

The only difference is that if you trade a daily chart you can hope to gain over 100 pips and use a larger stop loss such as 30-40 pips.

While on a 5M chart, you would rather be happy with 15-20 pips using a smaller <10 pip stop.

Timeframes fall inside other timeframes and so do all these mightyzones and zerolines. Hence if your using a smaller timeframe make sure you know whats going on, on a higher time frame.


Regarding where to exit thats a hard question to answer. We all would be millionaire billionaire traders if we all had good exits and crappy entries.

Set a target and see if it hits it, if it doesn't see if there is some support developing. Some people like certain number such as +100, so they automatically exit there.

Also if you enter a trade around this time, don't expect much movement since its the NY close. It's best to trade during the London-NY session. You can trade the asian session if you're a patient individual.

And yes I was talking about that 4817 support.
Cheers for your comments adaseb......

Im in the uk so i dont have much time during those sessions you mentioned coz of work.....i miss all of london and early part of ny...asian session is my sleep time..

when im as good as es pip, dragon and yourself and trade this for a living then london/ny sessions will be fun in the meantime i just have to do this at this time,any suggestions...

your right about it being dead,look at the 5 min candles for the gu in the last hr or so ](*,)


yeah its not a good time to be in a trade. Normally these the 2 hours after the NY close and Asian open. There can be wild whipsaws that will usually stop you out.
Yeah its tough,so trading in peak hours must be easier right? :lol:

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Postby poipen » Wed May 12, 2010 10:02 pm

adaseb wrote:
poipen wrote:These late nights have been killing me, i think im going to try and start scalping the Sydney/Asia. we'll see how it goes lol


Don't eat too much late in the evening then, it will help you stay up longer.


Hey abaseb what time zone are you living in? and if its not to much to ask when do you do your shorter term trading?
Wise Men Know Their Limits, Great Men Have No Limits.

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Postby adaseb » Wed May 12, 2010 10:12 pm

poipen wrote:
adaseb wrote:
poipen wrote:These late nights have been killing me, i think im going to try and start scalping the Sydney/Asia. we'll see how it goes lol


Don't eat too much late in the evening then, it will help you stay up longer.


Hey abaseb what time zone are you living in? and if its not to much to ask when do you do your shorter term trading?


I'm in Mountain time.

In my opinion best time is like an hour before the london open till maybe an hour before the NY close.

This M5 euro scalp is not my main trading method. It's just something I am trying out and might add as a tool to my arsenal. So if you are solely scalping the euro you can pretty much trade it around the clock but it won't move as fast and as far. And your spreads might be larger.

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Postby poipen » Wed May 12, 2010 10:25 pm

lukx wrote:I got lucky today :)

Image


"luck" happens when preparation meets opportunity... that being said luck is
an illusion and you need to remember to keep a positive perception when
trading :)

just my .02
Wise Men Know Their Limits, Great Men Have No Limits.

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Postby poipen » Wed May 12, 2010 10:29 pm

adaseb wrote:
poipen wrote:
adaseb wrote:
poipen wrote:These late nights have been killing me, i think im going to try and start scalping the Sydney/Asia. we'll see how it goes lol


Don't eat too much late in the evening then, it will help you stay up longer.


Hey abaseb what time zone are you living in? and if its not to much to ask when do you do your shorter term trading?


I'm in Mountain time.

In my opinion best time is like an hour before the london open till maybe an hour before the NY close.

This M5 euro scalp is not my main trading method. It's just something I am trying out and might add as a tool to my arsenal. So if you are solely scalping the euro you can pretty much trade it around the clock but it won't move as fast and as far. And your spreads might be larger.


Understood, thanks for the help :)
Wise Men Know Their Limits, Great Men Have No Limits.

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