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

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cwn6161
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Postby cwn6161 » Fri May 14, 2010 3:39 am

Image

Trades from today.... definitely a good one! These aren't zlines, they are daily trades based off of the monthly candle, using MO's ruler of sixes idea.

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cfabian
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Postby cfabian » Fri May 14, 2010 3:46 am

Correct. That support line marked by you was actually the close of the body of prvius H1 from my entry. I enteren on the retrace, aiming for H4 target, and of course a break from that line.

The question would be if that break doesn't happen on your candle's entry, would you close or hold a bit more?



adaseb wrote:
cfabian wrote:Still lots of pages to catch up.

Had this fkn trade wich ended in a loss of 25 pips.
I didn't close it before as it happens to me 90% of the time that when I do so, the sucker just moves in my direction. In this case I decided to leave it to hit take profit or stop loss.

Please comment.

Image

Image
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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cfabian
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Postby cfabian » Fri May 14, 2010 4:05 am

Manta, what indy you use for your lines? looks simpler and cleaner... really like it.

Manta wrote:Lukx, you see, it is still the same over and over again...

EDIT: of course some days are better, some days are worse, but all you need is some edge (I think this one is good enough). Then just stick to it, practice and trade day by day. Don't use too high leverage, rather use some kind of cushion money management (search MO's posts) to boost your percentage gains and you, your wife and your Aston Martin will be OK 8)
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

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

Pro Trader
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Postby Pro Trader » Fri May 14, 2010 6:04 am

Hi all I must say thanks to everyone for their posts. I've been following this thread for a while but these will be my first charts on here and first zline trade in fact. Can you guys take a look and see if what I'm seeing is correct pls?

EU H4 Zline (I think thats where you put it)

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EU 15m entry (rat entry) based on H4 zline

Image

The H4 candle was green when I first saw it. I was watching the 5m and saw price drop like a stone around the line. I then moved to a 15m chart to do a rat entry which incidently is off the Daily high.

I took a demo trade on this and made 2% in no time. I only came out because Im off to work now.

I would appreciate your thoughts.

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poipen
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Postby poipen » Fri May 14, 2010 7:57 am

This really should be illegal

[left]http://i45.photobucket.com/albums/f65/tylerjamesbryant/3.gif[/left]



short at all 3 purple lines at once


ok.... that one might of been a little lucky, but hey! it paid off :P
Wise Men Know Their Limits, Great Men Have No Limits.

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bacoazul
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Postby bacoazul » Fri May 14, 2010 10:05 am

:shock:
This trade exceds my expectations,
Patience pay, thank you MO for
teaching us to entrie/exit at extremes,
im still looking were to exit, but if
today is like a normal Friday, well.....
8)

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These are my principles. If you don't like them, I have others.

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Postby aliassmith » Fri May 14, 2010 12:21 pm

M5 candle closes against a recent S/R then think about exiting and maybe
re-enter later. M5 is not only for entry 8)

cfabian wrote:Thank you alias,
I agree on what you say. I remained because resistance was holding on and playing with H1. M5 was for entry only. I was expecting price to plummet down after that period.

aliassmith wrote:
cfabian wrote:Still lots of pages to catch up.

Had this fkn trade wich ended in a loss of 25 pips.
I didn't close it before as it happens to me 90% of the time that when I do so, the sucker just moves in my direction. In this case I decided to leave it to hit take profit or stop loss.

Please comment.

Image


Starting with your entry candle tell your self a little story for each candle
that forms.

Entry candle: not bad, not great still has short potential
Entry+1: Long wick on bull candle has bull bias
Entry+2: Shaping up not convinced
Entry+3: Time to bail
Entry+4: Time to bail
Trade Your Way as Long as It Makes Money!

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Postby Fxtraveller » Fri May 14, 2010 12:48 pm

Gentlemen, place your bets !

P.S. Had a sell limit there, removed cause the price is going up too violently for my humble tastes. lets see what happens
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IN-XS
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Postby IN-XS » Fri May 14, 2010 1:04 pm

Looked like a good entry to me Fxtraveller, price is now reversing from that point, nicely.

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Postby Fxtraveller » Fri May 14, 2010 1:15 pm

I think I comprehend when MO says that he hedges and takes profit when price breaks to new xtremes.

Because wheb price breaks through (just a bit) it takes all the SLs :)

ZLining is not only about watching most obvious entry positions, but also most obvious places of SLs ;)

I cant believe I chickened out of this one. But got to graduate this year, so have to concentrate on other things, thats mah xcuse anywho =]
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