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

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pablo101
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Postby pablo101 » Thu Nov 19, 2009 1:57 am

ALL YOU KRESLIK GUYS ARE FULL ON! :smt038
What line? The line that tells you which way you are trading! - MO

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Postby pablo101 » Thu Nov 19, 2009 2:22 am

lukx wrote:Thanks cfabian, but I'm using oanda so I can't use this EA :(. Anyway I think I'm done... can't see any light at the end of tunnel... I closed Oanda like alias said...


After all your hardwork it's going to be hard to let go.

you were almost there but that finger of yours kept entering every little twitch, I hinted a few times that you were overtrading :(
Last edited by pablo101 on Tue Jun 15, 2010 4:13 am, edited 1 time in total.

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Postby pablo101 » Thu Nov 19, 2009 2:28 am

Kenyuki wrote:
pablo101 wrote:any reason why not to play gu today as I'm being spiked every which way :(


GBPUSD actually had a very good setup for shorts today. I entered a short trade on 1.6840 and price is currently at 1.6728 (112 pips).

This was my setup today:

Image

This was the trade I took:

Image

I'm just kicking myself in the butt now for watching this trade over lunch, got stopped out @ 1.6821. I should've just let it run... oh well...

I know what you guys are thinking ;) What's the BuyZone kid messing around with the zlines about? Just got inspired from Sam Seiden yesterday... had the chance to have a chitchat with the fella (can't believe I'm starstruck :D).

Cheers,
Ken


Didn't do too well on GU yesterday, kept looking at a long position for some strange reason :(

Ken, can I ask where you got the supply area you marked up in you charts? I do have a zline marked at 1.6873 but thats it :?:
Last edited by pablo101 on Thu Nov 19, 2009 2:32 am, edited 1 time in total.
What line? The line that tells you which way you are trading! - MO

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Postby pablo101 » Thu Nov 19, 2009 2:30 am

Kenyuki wrote:
Ken: "Hey Sam, what's your take on the zerolines?"
Sam: "The what?"
Ken: "The zerolines. You know, the numbers ending in zero?"
Sam: "Oh, you mean the round numbers?"
Ken: "Oh yeah (forgot that Sam is not a member on kreslik)... the round numbers. What do you do with them? Do you watch out for them, or..."
Sam: "Oh, yeah, sure. Nothing."


LOL :lol:
What line? The line that tells you which way you are trading! - MO

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Postby Shinobi-X » Thu Nov 19, 2009 2:36 am

@cfabian
I was first a scalper (dating back from the very beginning). then I noticed scalping might be good for other trader but certainly is not for me. I tried thousands of setup numbers for indicators such as RSI, Stochs, CCI, MA, HMA (the manual one not like the one we have today), Heiken Ashi, MACD and load them to my chart (not all at the same time though) with candlestick and other chart patterns in mind. but I learnt that whether you scalp or not you'll see ups and downs (I mean the price either goes up or down). so I figured if you could combine scalping-type money management with pattern spotting it would create an incredible outcome. but then it failed because scalping numbers are tight knit and you'll get whacked here and there. part of the scenario I don't like is to take loss if the indicator is against you. it's like zero sum game (to me it is partly because I can't stand losing money).

I step back and go back to the classics. candlesticks and western patterns. this is what I stick with till now. a few months back I get my hand on TRO's 3LZZ which is a great tool to aid to what I already know. I used H1 as a base and then zoom out to H4 and D1 to see what's in for today or what's coming ahead. I sometimes check W1 once in a while because this TF is very long and far ahead. I used fib as initial target but locking in profits as I go along the bountiful path (I don't use trailing SL unless I go to bed).

My money management I got from Ryan Jones's book "The Trading Game". but I custom-fit it for myself. I noticed that MO has a similar approach to Ryan Jones but I see that he is also custom-fit it to be aggressive. I still have no idea how dragon33 managed his account. the candlestick, I learnt from Stephen Bigalow's book "Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits". but as I posted earlier that not all of the patterns are applicable in the fx market. I also read from John J. Murphy to get insight of this great trader's mind "Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications".

and my advice is: stick to one pair. it's easier, less stressful, and you can get to know its actions a lot faster than when you're watching several currency pairs. if you're in the Euro or US timezone it's good to follow G/U, but if you're in Asian timezone it's best to follow E/J (this last sentence is purely my opinion). I stick to e/j because if the euro move e/j will move and when the yen move the e/j will also move and I cover both timezones as I trade (hence the 16 hours a day).

well it's my side of story. it's best to learn from other traders too to get their insight on things and pick the best that suits you.
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Postby lukx » Thu Nov 19, 2009 4:45 am

Thanks Shinobi. You got it right with me facing back the tunnel :).
Would be good to be Phoneix one day. I remember last year at this time I started using almost any EA on the market :) So in some way I progressed that I don't do it anymore :)
I'm starting to read the books you recommended right now !
Last edited by lukx on Thu Nov 19, 2009 5:02 am, edited 2 times in total.

monarch
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Postby monarch » Thu Nov 19, 2009 4:53 am

Hey Lukx, I don't know how many times I said, THAT IS IT!!! I have blown many accounts, can't even remember how many now actually. I have faced the emotional roller coaster too many times, and then I came to myself and calmed down and said, just relax and learn from this.

I have really enjoyed your post, sure there are losses along the way, we all have those. But the biggest loss would be for you to quit, there will be a day that it will just click, and you will be smiling like a gopher digging in soft dirt.

Cheers to you, let's rock those pips and keep up the good thread, I enjoy following.

Monarch

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Postby adaseb » Thu Nov 19, 2009 6:14 am

Shinobi-X wrote:@cfabian
I was first a scalper (dating back from the very beginning). then I noticed scalping might be good for other trader but certainly is not for me. I tried thousands of setup numbers for indicators such as RSI, Stochs, CCI, MA, HMA (the manual one not like the one we have today), Heiken Ashi, MACD and load them to my chart (not all at the same time though) with candlestick and other chart patterns in mind. but I learnt that whether you scalp or not you'll see ups and downs (I mean the price either goes up or down). so I figured if you could combine scalping-type money management with pattern spotting it would create an incredible outcome. but then it failed because scalping numbers are tight knit and you'll get whacked here and there. part of the scenario I don't like is to take loss if the indicator is against you. it's like zero sum game (to me it is partly because I can't stand losing money).

I step back and go back to the classics. candlesticks and western patterns. this is what I stick with till now. a few months back I get my hand on TRO's 3LZZ which is a great tool to aid to what I already know. I used H1 as a base and then zoom out to H4 and D1 to see what's in for today or what's coming ahead. I sometimes check W1 once in a while because this TF is very long and far ahead. I used fib as initial target but locking in profits as I go along the bountiful path (I don't use trailing SL unless I go to bed).

My money management I got from Ryan Jones's book "The Trading Game". but I custom-fit it for myself. I noticed that MO has a similar approach to Ryan Jones but I see that he is also custom-fit it to be aggressive. I still have no idea how dragon33 managed his account. the candlestick, I learnt from Stephen Bigalow's book "Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits". but as I posted earlier that not all of the patterns are applicable in the fx market. I also read from John J. Murphy to get insight of this great trader's mind "Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications".

and my advice is: stick to one pair. it's easier, less stressful, and you can get to know its actions a lot faster than when you're watching several currency pairs. if you're in the Euro or US timezone it's good to follow G/U, but if you're in Asian timezone it's best to follow E/J (this last sentence is purely my opinion). I stick to e/j because if the euro move e/j will move and when the yen move the e/j will also move and I cover both timezones as I trade (hence the 16 hours a day).

well it's my side of story. it's best to learn from other traders too to get their insight on things and pick the best that suits you.


Hey how many years have you been trading?

How long did it take you to get your "ah ha" moment?

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Kenyuki
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Postby Kenyuki » Thu Nov 19, 2009 6:33 am

pablo101 wrote:Ken, can I ask where you got the supply area you marked up in you charts? I do have a zline marked at 1.6873 but thats it :?:

Hey pablo101, I just zoomed in from the weekly charts all the way down to H1.

Dark blue line = weekly resistance
Light blue line = daily support
Peach line = H4 resistance

Weekly:

Image

Daily:

Image

H4:

Image

H1:

Image

Cheers,
Ken

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Postby Kenyuki » Thu Nov 19, 2009 6:36 am

You know guys I tend to notice that the best traders used to be the best losers. I think your losses are really your best teachers. They toughen you up and tell you the truth.

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