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

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es/pip
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Postby es/pip » Fri Jun 04, 2010 2:13 pm

Pro Trader wrote:
es/pip wrote:
Pro Trader wrote:
es/pip wrote:
numbk2k wrote:went ballistic true my tp .... lol i should have targeted the 0% level of H4 momo candle


Image

Image





i ddint trade the last one bec it was right in front of the news

unfortunately

Image


es/pip do you enter at the zline itself shown by each of your arrows?


the line is just a line its not a signal

like MO has said its just a line in the sand, and it comes down to price closing above or below your line in the sand


Yes I understand that, it's just I've been watchin PA around these zlines after a momo and often price reverses of the line itself like clockwork. With charts posted with arrows at the line I wasn't sure what all you guys were doing.

Thanks for clearing that up, again.

I've been entering at the low of a momo (for a short) with a SL at the top, Dragons entry basically and thats been going ok but also the size of a momo is a factor to consider else the SL would be too large. Do you have a maximum SL beyond which you won't take a trade?

When you drop to a 1m or just get in, don't you have to be mega fast to do so at your desired price what with calculating SL distance from entry then position sizing etc? I notice that price can move quite quickly from these areas

Thanks for your help


my max loss is 4% per trade so my stops are at 20 pips

i am always trading the same size based off $1 a pip per $500--- so i dont have to calculate anything

the only time that i change my lot size and risk is if i am getting ready to do a m5 or m15 rat----- then i will adjust based on how the PA looks

i rarely will take a full stop--- will just get out based on the PA
Bend over and assume the position for another 4 years of hope and change.

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numbk2k
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Postby numbk2k » Fri Jun 04, 2010 2:14 pm

dragon33 wrote:
numbk2k wrote:went ballistic true my tp .... lol i should have targeted the 0% level of H4 momo candle


Image

Image


You could have shoot lower because of the weekly extreme.

Daily+ extreme like mo says :wink:


yeah i've took a look at weekly and daily charts but couldn't find something useful there only this bullish momo which is not quite strong
Image

by looking to H4 chart it seems more clearer where it was heading could have made 250pips at tp2

Image

numbk2k
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Postby numbk2k » Fri Jun 04, 2010 2:15 pm

dbl post

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bacoazul
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Postby bacoazul » Fri Jun 04, 2010 2:39 pm

es/pip wrote:
numbk2k wrote:went ballistic true my tp .... lol i should have targeted the 0% level of H4 momo candle


Image

Image





i ddint trade the last one bec it was right in front of the news

unfortunately

Image




Es/pip can you please explain me that bottom H4 line
please, ty
These are my principles. If you don't like them, I have others.

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dragon33
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Postby dragon33 » Fri Jun 04, 2010 2:44 pm

numbk2k wrote:
dragon33 wrote:
numbk2k wrote:went ballistic true my tp .... lol i should have targeted the 0% level of H4 momo candle


Image

Image


You could have shoot lower because of the weekly extreme.

Daily+ extreme like mo says :wink:


yeah i've took a look at weekly and daily charts but couldn't find something useful there only this bullish momo which is not quite strong
Image

by looking to H4 chart it seems more clearer where it was heading could have made 250pips at tp2

Image


I just meant that you were trading away from a weekly high. Most of the times there is a strong move. You had momentum with you so go for it. Only liquidate at the end of a big bar
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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es/pip
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Postby es/pip » Fri Jun 04, 2010 2:51 pm

bacoazul wrote:
es/pip wrote:
numbk2k wrote:went ballistic true my tp .... lol i should have targeted the 0% level of H4 momo candle


Image

Image





i ddint trade the last one bec it was right in front of the news

unfortunately

Image




Es/pip can you please explain me that bottom H4 line
please, ty



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

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Postby numbk2k » Fri Jun 04, 2010 3:06 pm

dragon33 wrote:
numbk2k wrote:
dragon33 wrote:
numbk2k wrote:went ballistic true my tp .... lol i should have targeted the 0% level of H4 momo candle


Image

Image


You could have shoot lower because of the weekly extreme.

Daily+ extreme like mo says :wink:


yeah i've took a look at weekly and daily charts but couldn't find something useful there only this bullish momo which is not quite strong
Image

by looking to H4 chart it seems more clearer where it was heading could have made 250pips at tp2

Image


I just meant that you were trading away from a weekly high. Most of the times there is a strong move. You had momentum with you so go for it. Only liquidate at the end of a big bar


Thanks Dragon that will help me to improve my exits .... btw thats what i need to work on atm

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bacoazul
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Postby bacoazul » Fri Jun 04, 2010 3:17 pm

es/pip wrote:
bacoazul wrote:
es/pip wrote:
numbk2k wrote:went ballistic true my tp .... lol i should have targeted the 0% level of H4 momo candle


Image

Image





i ddint trade the last one bec it was right in front of the news

unfortunately

Image




Es/pip can you please explain me that bottom H4 line
please, ty



Image


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

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cfabian
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Postby cfabian » Fri Jun 04, 2010 5:39 pm

If the SL would be too large, then reduce your lot num to keep risking your same allowed %. When going in your favor then you can start considering adding more pieces.



Pro Trader wrote:
es/pip wrote:
Pro Trader wrote:
es/pip wrote:
numbk2k wrote:went ballistic true my tp .... lol i should have targeted the 0% level of H4 momo candle


Image

Image





i ddint trade the last one bec it was right in front of the news

unfortunately

Image


es/pip do you enter at the zline itself shown by each of your arrows?


the line is just a line its not a signal

like MO has said its just a line in the sand, and it comes down to price closing above or below your line in the sand


Yes I understand that, it's just I've been watchin PA around these zlines after a momo and often price reverses of the line itself like clockwork. With charts posted with arrows at the line I wasn't sure what all you guys were doing.

Thanks for clearing that up, again.

I've been entering at the low of a momo (for a short) with a SL at the top, Dragons entry basically and thats been going ok but also the size of a momo is a factor to consider else the SL would be too large. Do you have a maximum SL beyond which you won't take a trade?

When you drop to a 1m or just get in, don't you have to be mega fast to do so at your desired price what with calculating SL distance from entry then position sizing etc? I notice that price can move quite quickly from these areas

Thanks for your help
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

Humble
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Postby Humble » Sat Jun 05, 2010 3:08 am

es/pip how do you decide when to draw a zl from the body of a hugging candle and when to draw it from the extreme?

In your chart on page 422 the lower zl was drawn from the body and this became a S&R line, whilst the higher zl was drawn from the extreme and stayed a zl.

In this case every which way would have worked but that's not usually the case. Do you adjust the zl line if it becomes S&R?
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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