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

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adaseb
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Postby adaseb » Fri May 28, 2010 9:50 pm

Manta wrote:
adaseb wrote:
Manta wrote:
cfabian wrote:Manta, not sure if I understand correctly your entries, bur from what I understand, you entry right at the lines, what put you in a severe draw down, at aprox -40 for the first 2 and -20 for the 3rd.

Did I get your entries correctly? How do you handle such DD or what is your SL on each case?

Image


Manta wrote:
prochargedmopar wrote:
Manta wrote:"six pack" ZL trading


Very nice trading manta,

You got BALLS!!

I will dream about that pic tonight.


Hahaha, thanks.
Don't dream about, just do it and enjoy. All you need are two magic momos.

And imagine this is only one pair (I trade 4) and 1 day (I trade 5) :twisted:

EDIT: not magic momos, but mighty momos 8)


Good question, I was curious whether someone ask this question.
I use only limit orders. Very rarely stop or market orders. Yes, I enter on those lines. I strongly believe, that trading is not only about entries, the main things from my point of view are money management (risk, position sizing etc.) and exits. I almost don't use SL, but I always set up emergency SL with every trade to avoid unexpected events. I have maximum weekly loss per pair (around 300 pips) and risk around 1.5% per trade (believe it or not even with this small risk is really not problem to make +30% weekly). As soon as I get first breakout in my direction I usually move SL closer, usually above/below the last swing. But what is really powerful is using accumulated profit during a week to increase position size agresively. I don't want to use and risk my money, but money I make during first two, three days of week. That's why I like so much friday trading :D


I wish you luck in the way you trade. But you gotta remember that if you keep trading without a stop, one day you will get a margin call and your entire account will be blown.

I am not trying to put you down. But if you keep trading like this eventually all your profits will be whipped away in one trade.

What I don't understand is how 300 pips represents 1.5% of your account and your pulling 30% weekly returns.

Once again don't take this as an insult in the way you trade. But many people had good success in trading forex because they never used stops and then there will always be that one trade that will take it all away.


That is misunderstanding. I should start to study English again or move again abroad for some time. 300 pips is my maximum weekly loss per pair. It represents around 7.5% of my account. I always use SL!!!!! Believe me I destroyed more than enough accounts in my trading carrier :D
What I want to point out, is the idea of some kind of cushion money management. MO mentioned this idea several times in this forum, but I think no one wants to hear. Most of people in my opinion still looking for some Entry holy grail.


ok that makes sense. i didn't see the 7.5% part.

good luck in your trading.

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cfabian
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Postby cfabian » Fri May 28, 2010 9:51 pm

Mmmmm, got your point, however I'd like to learn how you scale up your lots in order to achieve 30% in a week? As using just your initial risk to get that return you'll need 1200 pips a week.



Manta wrote:
adaseb wrote:
Manta wrote:
cfabian wrote:Manta, not sure if I understand correctly your entries, bur from what I understand, you entry right at the lines, what put you in a severe draw down, at aprox -40 for the first 2 and -20 for the 3rd.

Did I get your entries correctly? How do you handle such DD or what is your SL on each case?

Image


Manta wrote:
prochargedmopar wrote:
Manta wrote:"six pack" ZL trading


Very nice trading manta,

You got BALLS!!

I will dream about that pic tonight.


Hahaha, thanks.
Don't dream about, just do it and enjoy. All you need are two magic momos.

And imagine this is only one pair (I trade 4) and 1 day (I trade 5) :twisted:

EDIT: not magic momos, but mighty momos 8)


Good question, I was curious whether someone ask this question.
I use only limit orders. Very rarely stop or market orders. Yes, I enter on those lines. I strongly believe, that trading is not only about entries, the main things from my point of view are money management (risk, position sizing etc.) and exits. I almost don't use SL, but I always set up emergency SL with every trade to avoid unexpected events. I have maximum weekly loss per pair (around 300 pips) and risk around 1.5% per trade (believe it or not even with this small risk is really not problem to make +30% weekly). As soon as I get first breakout in my direction I usually move SL closer, usually above/below the last swing. But what is really powerful is using accumulated profit during a week to increase position size agresively. I don't want to use and risk my money, but money I make during first two, three days of week. That's why I like so much friday trading :D


I wish you luck in the way you trade. But you gotta remember that if you keep trading without a stop, one day you will get a margin call and your entire account will be blown.

I am not trying to put you down. But if you keep trading like this eventually all your profits will be whipped away in one trade.

What I don't understand is how 300 pips represents 1.5% of your account and your pulling 30% weekly returns.

Once again don't take this as an insult in the way you trade. But many people had good success in trading forex because they never used stops and then there will always be that one trade that will take it all away.


That is misunderstanding. I should start to study English again or move again abroad for some time. 300 pips is my maximum weekly loss per pair. It represents around 7.5% of my account. I always use SL!!!!! Believe me I destroyed more than enough accounts in my trading carrier :D
What I want to point out, is the idea of some kind of cushion money management. MO mentioned this idea several times in this forum, but I think no one wants to hear. Most of people in my opinion still looking for some Entry holy grail.
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 28, 2010 9:52 pm

As always, excellent my friend!!!!


bacoazul wrote:End of eu trade


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 » Sat May 29, 2010 2:11 am

adaseb wrote:That chart is the most beautiful thing I have ever seen.


Lmfao....I was thinking exactly the same thing and then paged down to read your response. There is something terribly wrong with me that Im lusting over a chart and not sufing the net for porn....
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

scheeco
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Postby scheeco » Sat May 29, 2010 7:51 am

dragon33 wrote:
scheeco wrote:ok..so far so good as this will be the second day in row I seem to have the correct strategy and entry et al.

My process below:
H4 analysis:
2 sema formed in the 0-50% area of the H4 MOMO candle
This indicated that a reversal MAY be in the pipeline.

Image

M15 Entry:


Image


M15 Exit:
During this trade, right after the entry, price turned on me like and it nearly stopped me out, and it felt like I was slowly sinking through my arse but fortunately I was not stopped out!
Waited for my target!
Image


I think I got this one - the logic and strategy correct this time.
Not so concerned with making the target (it does feel good though) but the real joy is in seemingly having read the chart correctly.

Comments and help appreciated!
Dragon, dank u,jou hulp is waardeer!


Image

Image


Thanks Dragon,
however I am not sure I understand the "fail" line in your M5 image?
What does signify?

The first entry and exit I understand - but I would not have entered on M5 as I find M15 work better for me - and you yourself said you now only enter M15.

Also on the second entry on the M5 chart, the red candle closes below the previous green candle's 50% level - why did you ignore that and still entered?
Would it not better to wait for the next red candle to pass that 50% level to confirm short momentum?
Apologies for all the questions!

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dragon33
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Postby dragon33 » Sat May 29, 2010 9:27 am

scheeco wrote:
dragon33 wrote:
scheeco wrote:ok..so far so good as this will be the second day in row I seem to have the correct strategy and entry et al.

My process below:
H4 analysis:
2 sema formed in the 0-50% area of the H4 MOMO candle
This indicated that a reversal MAY be in the pipeline.

Image

M15 Entry:


Image


M15 Exit:
During this trade, right after the entry, price turned on me like and it nearly stopped me out, and it felt like I was slowly sinking through my arse but fortunately I was not stopped out!
Waited for my target!
Image


I think I got this one - the logic and strategy correct this time.
Not so concerned with making the target (it does feel good though) but the real joy is in seemingly having read the chart correctly.

Comments and help appreciated!
Dragon, dank u,jou hulp is waardeer!


Image

Image


Thanks Dragon,
however I am not sure I understand the "fail" line in your M5 image?
What does signify?

The first entry and exit I understand - but I would not have entered on M5 as I find M15 work better for me - and you yourself said you now only enter M15.

Also on the second entry on the M5 chart, the red candle closes below the previous green candle's 50% level - why did you ignore that and still entered?
Would it not better to wait for the next red candle to pass that 50% level to confirm short momentum?
Apologies for all the questions!


After all it is just the same like you entered. The fail is the reason why i should have entered again. The M5 is what is happening inside the M15 bars.
Everything in my style is about the 50% level. The run started down. The second entry failed to close above the red H1.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

scheeco
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Postby scheeco » Sat May 29, 2010 1:36 pm

dragon33 wrote:
scheeco wrote:
dragon33 wrote:
scheeco wrote:ok..so far so good as this will be the second day in row I seem to have the correct strategy and entry et al.

My process below:
H4 analysis:
2 sema formed in the 0-50% area of the H4 MOMO candle
This indicated that a reversal MAY be in the pipeline.

Image

M15 Entry:


Image


M15 Exit:
During this trade, right after the entry, price turned on me like and it nearly stopped me out, and it felt like I was slowly sinking through my arse but fortunately I was not stopped out!
Waited for my target!
Image


I think I got this one - the logic and strategy correct this time.
Not so concerned with making the target (it does feel good though) but the real joy is in seemingly having read the chart correctly.

Comments and help appreciated!
Dragon, dank u,jou hulp is waardeer!


Image

Image


Thanks Dragon,
however I am not sure I understand the "fail" line in your M5 image?
What does signify?

The first entry and exit I understand - but I would not have entered on M5 as I find M15 work better for me - and you yourself said you now only enter M15.

Also on the second entry on the M5 chart, the red candle closes below the previous green candle's 50% level - why did you ignore that and still entered?
Would it not better to wait for the next red candle to pass that 50% level to confirm short momentum?
Apologies for all the questions!


After all it is just the same like you entered. The fail is the reason why i should have entered again. The M5 is what is happening inside the M15 bars.
Everything in my style is about the 50% level. The run started down. The second entry failed to close above the red H1.


Thanks Dragon for the explanation. I tried to enter and trade just like you explained your method but fear I might have misunderstood something or completely got it wrong.

I noticed also how perfectly the the price rallied at the 50% level H1 BO candle!Amazing stuff!

So is my understanding correct on this image (Note1 and Note2)?
Image

Again thank you so much for your help. I am astonished at the time and effort you give of yourself to help others become successful!
I hope one day to be half as successful as you, but equally generous!

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dragon33
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Postby dragon33 » Sat May 29, 2010 1:41 pm

scheeco wrote:
dragon33 wrote:
scheeco wrote:
dragon33 wrote:
scheeco wrote:ok..so far so good as this will be the second day in row I seem to have the correct strategy and entry et al.

My process below:
H4 analysis:
2 sema formed in the 0-50% area of the H4 MOMO candle
This indicated that a reversal MAY be in the pipeline.

Image

M15 Entry:


Image


M15 Exit:
During this trade, right after the entry, price turned on me like and it nearly stopped me out, and it felt like I was slowly sinking through my arse but fortunately I was not stopped out!
Waited for my target!
Image


I think I got this one - the logic and strategy correct this time.
Not so concerned with making the target (it does feel good though) but the real joy is in seemingly having read the chart correctly.

Comments and help appreciated!
Dragon, dank u,jou hulp is waardeer!


Image

Image


Thanks Dragon,
however I am not sure I understand the "fail" line in your M5 image?
What does signify?

The first entry and exit I understand - but I would not have entered on M5 as I find M15 work better for me - and you yourself said you now only enter M15.

Also on the second entry on the M5 chart, the red candle closes below the previous green candle's 50% level - why did you ignore that and still entered?
Would it not better to wait for the next red candle to pass that 50% level to confirm short momentum?
Apologies for all the questions!


After all it is just the same like you entered. The fail is the reason why i should have entered again. The M5 is what is happening inside the M15 bars.
Everything in my style is about the 50% level. The run started down. The second entry failed to close above the red H1.


Thanks Dragon for the explanation. I tried to enter and trade just like you explained your method but fear I might have misunderstood something or completely got it wrong.

I noticed also how perfectly the the price rallied at the 50% level H1 BO candle!Amazing stuff!

So is my understanding correct on this image (Note1 and Note2)?
Image

Again thank you so much for your help. I am astonished at the time and effort you give of yourself to help others become successful!
I hope one day to be half as successful as you, but equally generous!


My pleasure
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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Postby aliassmith » Sat May 29, 2010 1:45 pm

Manta wrote:
adaseb wrote:
Manta wrote:
cfabian wrote:Manta, not sure if I understand correctly your entries, bur from what I understand, you entry right at the lines, what put you in a severe draw down, at aprox -40 for the first 2 and -20 for the 3rd.

Did I get your entries correctly? How do you handle such DD or what is your SL on each case?

Image


Manta wrote:
prochargedmopar wrote:
Manta wrote:"six pack" ZL trading


Very nice trading manta,

You got BALLS!!

I will dream about that pic tonight.


Hahaha, thanks.
Don't dream about, just do it and enjoy. All you need are two magic momos.

And imagine this is only one pair (I trade 4) and 1 day (I trade 5) :twisted:

EDIT: not magic momos, but mighty momos 8)


Good question, I was curious whether someone ask this question.
I use only limit orders. Very rarely stop or market orders. Yes, I enter on those lines. I strongly believe, that trading is not only about entries, the main things from my point of view are money management (risk, position sizing etc.) and exits. I almost don't use SL, but I always set up emergency SL with every trade to avoid unexpected events. I have maximum weekly loss per pair (around 300 pips) and risk around 1.5% per trade (believe it or not even with this small risk is really not problem to make +30% weekly). As soon as I get first breakout in my direction I usually move SL closer, usually above/below the last swing. But what is really powerful is using accumulated profit during a week to increase position size agresively. I don't want to use and risk my money, but money I make during first two, three days of week. That's why I like so much friday trading :D


I wish you luck in the way you trade. But you gotta remember that if you keep trading without a stop, one day you will get a margin call and your entire account will be blown.

I am not trying to put you down. But if you keep trading like this eventually all your profits will be whipped away in one trade.

What I don't understand is how 300 pips represents 1.5% of your account and your pulling 30% weekly returns.

Once again don't take this as an insult in the way you trade. But many people had good success in trading forex because they never used stops and then there will always be that one trade that will take it all away.


That is misunderstanding. I should start to study English again or move again abroad for some time. 300 pips is my maximum weekly loss per pair. It represents around 7.5% of my account. I always use SL!!!!! Believe me I destroyed more than enough accounts in my trading carrier :D
What I want to point out, is the idea of some kind of cushion money management. MO mentioned this idea several times in this forum, but I think no one wants to hear. Most of people in my opinion still looking for some Entry holy grail.


300 pips at 7.5% is 40 pips= 1% which is low leverage for those that are
unsure.

Manta, I am interesrested in how you use your money management, ie.
profit cushion and increased lot size over the week? I wouldn't mind
doubling my return each month.
Trade Your Way as Long as It Makes Money!

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Postby gfg1 » Sat May 29, 2010 2:10 pm

Manta, that is great. Lukx has been a round a long time. Good to see him doing well. Keep posting your setups.

Manta wrote:
aliassmith wrote:
Manta wrote:
adaseb wrote:
Manta wrote:
cfabian wrote:Manta, not sure if I understand correctly your entries, bur from what I understand, you entry right at the lines, what put you in a severe draw down, at aprox -40 for the first 2 and -20 for the 3rd.

Did I get your entries correctly? How do you handle such DD or what is your SL on each case?

Image


Manta wrote:
prochargedmopar wrote:
Manta wrote:"six pack" ZL trading


Very nice trading manta,

You got BALLS!!

I will dream about that pic tonight.


Hahaha, thanks.
Don't dream about, just do it and enjoy. All you need are two magic momos.

And imagine this is only one pair (I trade 4) and 1 day (I trade 5) :twisted:

EDIT: not magic momos, but mighty momos 8)


Good question, I was curious whether someone ask this question.
I use only limit orders. Very rarely stop or market orders. Yes, I enter on those lines. I strongly believe, that trading is not only about entries, the main things from my point of view are money management (risk, position sizing etc.) and exits. I almost don't use SL, but I always set up emergency SL with every trade to avoid unexpected events. I have maximum weekly loss per pair (around 300 pips) and risk around 1.5% per trade (believe it or not even with this small risk is really not problem to make +30% weekly). As soon as I get first breakout in my direction I usually move SL closer, usually above/below the last swing. But what is really powerful is using accumulated profit during a week to increase position size agresively. I don't want to use and risk my money, but money I make during first two, three days of week. That's why I like so much friday trading :D


I wish you luck in the way you trade. But you gotta remember that if you keep trading without a stop, one day you will get a margin call and your entire account will be blown.

I am not trying to put you down. But if you keep trading like this eventually all your profits will be whipped away in one trade.

What I don't understand is how 300 pips represents 1.5% of your account and your pulling 30% weekly returns.

Once again don't take this as an insult in the way you trade. But many people had good success in trading forex because they never used stops and then there will always be that one trade that will take it all away.


That is misunderstanding. I should start to study English again or move again abroad for some time. 300 pips is my maximum weekly loss per pair. It represents around 7.5% of my account. I always use SL!!!!! Believe me I destroyed more than enough accounts in my trading carrier :D
What I want to point out, is the idea of some kind of cushion money management. MO mentioned this idea several times in this forum, but I think no one wants to hear. Most of people in my opinion still looking for some Entry holy grail.


300 pips at 7.5% is 40 pips= 1% which is low leverage for those that are
unsure.

Manta, I am interesrested in how you use your money management, ie.
profit cushion and increased lot size over the week? I wouldn't mind
doubling my return each month.


yep, it is really just basic math. I'm in touch with Lukx via email and he made 50% in last two weeks just with this basic edge like ZLs and I think he is still a bit scared :D to use this agresive position sizing. But the risk is really not higher. Just think about it. Idea is to use profit you make during a week to make even more. Simply reinvest that money like in any other business.
Price closed over a line that you believed to be support and that is the first indication that something is WRONG-MO

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