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thepark
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Postby thepark » Sun Jul 11, 2010 5:27 pm

can someone help me with my questions on the last page? thanks!

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lazygeorge
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Postby lazygeorge » Sun Jul 11, 2010 9:50 pm

aliassmith wrote:
lazygeorge wrote:Hi All,

I want to start by saying that i have been a long time lurker on these forums and followed the success of guyz like dragon and es pips closely,i've also made a few post here and there, mainly to ask and clarify questions along the way.

I am inspired by MO's teachings and contribution and thank him and Tro wholeheartedly for everything.

After going thru the NLA and this thread,and after proving the Zline concept to myself on DEMO i finally decided on 1st june 2010 to go 'LIVE'.

Dragons sucess of taking a small account into approx 22k in approx 3mths was, and still is a great inspiration to me,something i'd like to emulate myself.

I started my live account with only ?100 on the 1st of june and as of now it is at ?782 in 6wks trading at only ?1/pip,a good account growth percentage on a relative basis. I have not increased my ?/pip value as of yet because i have concerns which i would like MO,TRO,ES PIPS and DRAGON to help with.

My main concerns are timing of entries with the least amount of drawdown,even though at times i've gone 10 trades in a row without a loss,sometimes a few of those trades have been -50/60 pips before being a winning trade.

I need to drastically improve my timing which will give me the confidence to increase my pip value with proper money management.

I know everyone fashions their own way of trading MO's teachings, ES PIPS trades slightly different to DRAGON yet both are successful,what advice would you guyz give me on improving my timing??

I think im looking at the bigger picture and higher TF MOMO but sometimes get caught on trading from daily extremes when the market does'nt turn on shorter TF MOMO.

To MO,if on any given day i see the market has made a new low with some heavy down MOMO,but then i get strong up MOMO on a shorter TF,should i buy?? coz im trading from an extreme or wait for a retracement and sell at a better price going in line with higher TF MOMO and daily trend....reason being this is what has caught me out with the few losses i've had, even though i was only gonna trade the retracement like a scalp,the market does'nt retrace and goes down a bit more- making the shorter TF MOMO null and void..

LONG POST I KNOW(SORRY GUYZ AND GALS)

DRAGON/ES PIPS---What would you guyz advise on me trying to improve my entries so i can confidently put in a reasonable stoploss,dont get me wrong,i've had some fantastic entries with minimal drawdown as well,not consistently enough for me just yet.

You could argue that im not accepting the loss and moving onto the next trade but if you guyz can do with a 20-30 pip stoploss then so should i,except maybe im slightly too early or too late.......im waffling i know guyz
:lol: just a few losing trades tells me im managing the trades ok at this risk level because its worthless to me,but would i crack up and close the trades at higher ?/pip level.....probably yes....hence why i need your help improving timing....

DRAGON,your entry technique on page 55 of this thread is a little different to your later posts,are you using rat reversals now??anything to help better timing.....

I know it may sound like im a doom and gloom merchant ](*,)

But i owe a lot to all here especially MO,TRO DRAGON ESPIPS

Im a' work in progress' :D

Sorry to have gone on a bit, be assured that people here are changing lives,not because of what i've achieved coz that is miniscule compared to where guyz like dragon,es pips are,but because it gives me the belief that i will share the same success not long from now

forgive any typos :evil:


I know I am not one of the people you mentioned, but I know a little bit
about trading. :)

To address your drawdown:
-50 or more pips is a lot compared to your leverage and to what TRO, ES/PIP, DRagon33, and myself use. Now if you actually have a plan and
that fits your money management then it is fine. Although that doesn't
appear to be the case since most traders don't plan for 10% or greater
drawdown. It can be hard, but accepting small losses is part of the game.
Not having a reasonable SL will work and make money until it doesn't
and you get margin called. I learned that one from experience.

Great places to time entries are at logical locations for order stacks caused
by stoploss placement. If you prefer "confirmation" entries then pinbars,
rat trades are nice from the order stack area. Look for these on smaller
timframes only a few divisions from your pegged timeframe. ie. M30 or H1
for a pegged H3/H4 chart.


Hi Aliassmith

Not mentioning you or others who have had
succes here does not mean i dont appreciate
your efforts.

Thank you for your contribution and i will try and
take everything you say on board and hope that if i
need to lean on you :D for more advice i can.

aliassmith
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Postby aliassmith » Sun Jul 11, 2010 10:36 pm

thepark wrote:can someone help me with my questions on the last page? thanks!


I'll field this one for now......
3) in the EUR/USD H4 chart the candle retraced to an H4 down momo so my directional bias is short correct? then i look for H1 to sync and enter on m15 short ?

Directional bias based on H4 would be short in my opinion "after" it reaches
the breakout area and/or H1 and M15 give you clues creating your
"line in the sand".
Trade Your Way as Long as It Makes Money!

thepark
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Postby thepark » Mon Jul 12, 2010 3:20 pm

thanks for the reply aliassmith !

Image

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This is my analysis:

GBP/USD H4: potential short at H4 zeroline. if momo forms on H1 and retraces ill go short till H4 zeroline

EUR/USD H4: H4 down momo but right into resistance. HOw should this case be handled? I am more short than long here ...but not sure.

aliassmith
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Postby aliassmith » Mon Jul 12, 2010 4:03 pm

thepark wrote:thanks for the reply aliassmith !

Image

Uploaded with ImageShack.us

This is my analysis:

GBP/USD H4: potential short at H4 zeroline. if momo forms on H1 and retraces ill go short till H4 zeroline

EUR/USD H4: H4 down momo but right into resistance. HOw should this case be handled? I am more short than long here ...but not sure.


EUR/USD H4: H4 down momo but right into resistance. HOw should this case be handled? I am more short than long here ...but not sure.

EUR/USD H4 showed a dip into an order stack area. H1 Has some promise
going long. Will it go long? Who actually knows for sure :!:
A possible line in the sand on the chart.
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MightyOne
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Postby MightyOne » Mon Jul 12, 2010 4:42 pm

"EUR/USD H4: H4 down momo but right into resistance. HOw should this case be handled? I am more short than long here ...but not sure." -ThePark


Price closed over a line, what line did price close over?

:arrow: Price closed over support.

If price closed over support then why would you be worried about support?

If price is not crossing a line and moving to your stop then price is crossing a line and moving toward greater profits.

So I say again:

Price closed over a line, what line did price close over?

-Support

Price didn't close over a line, what line didn't price close over?

-Resistance

Should I be more worried about price not closing lower or price closing higher?

-Price closing higher, that is where my stop is. I know that if price does not close higher then price will eventually close lower.


And here is your picture:

Image

lazygeorge
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Postby lazygeorge » Mon Jul 12, 2010 4:44 pm

"Great places to time entries are at logical locations for order stacks caused
by stoploss placement. If you prefer "confirmation" entries then pinbars,
rat trades are nice from the order stack area. Look for these on smaller
timframes only a few divisions from your pegged timeframe. ie. M30 or H1
for a pegged H3/H4 chart."



Hi Aliassmith,

When you say logical locations do you mean areas of consolidation??

Could you please give an example of order stacks....

rat trades-simple enough..

pinbars-you have your own spin on trading these or the traditional
break of high or low??

could 15 min pin or rat be used for a 4hr peg or are these unreliable
in your experience??

THANKS :lol:

aliassmith
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Postby aliassmith » Mon Jul 12, 2010 5:02 pm

lazygeorge wrote:"Great places to time entries are at logical locations for order stacks caused
by stoploss placement. If you prefer "confirmation" entries then pinbars,
rat trades are nice from the order stack area. Look for these on smaller
timframes only a few divisions from your pegged timeframe. ie. M30 or H1
for a pegged H3/H4 chart."



Hi Aliassmith,

When you say logical locations do you mean areas of consolidation??

Could you please give an example of order stacks....

rat trades-simple enough..

pinbars-you have your own spin on trading these or the traditional
break of high or low??

could 15 min pin or rat be used for a 4hr peg or are these unreliable
in your experience??

THANKS :lol:


I have an appointment soon so I'll see what I can answer real quick.

M15 for H4 is 16 divisions and probably too small to use "alone" to take
trades. Depends on "your plan". Maybe using M15 with smaller stops
and taking more tries at it could be a plan.

Order Stacks:

Do a pretend trade with the charts. Think about where many people place
their stop loss orders. This is an order stack area.

Pin Bars:

Pin Bars in certain areas show information. What do they tell you?

Have to jet, hope that helps.
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Postby dragon33 » Mon Jul 12, 2010 7:14 pm

lazygeorge wrote:Hi All,

I want to start by saying that i have been a long time lurker on these forums and followed the success of guyz like dragon and es pips closely,i've also made a few post here and there, mainly to ask and clarify questions along the way.

I am inspired by MO's teachings and contribution and thank him and Tro wholeheartedly for everything.

After going thru the NLA and this thread,and after proving the Zline concept to myself on DEMO i finally decided on 1st june 2010 to go 'LIVE'.

Dragons sucess of taking a small account into approx 22k in approx 3mths was, and still is a great inspiration to me,something i'd like to emulate myself.

I started my live account with only ?100 on the 1st of june and as of now it is at ?782 in 6wks trading at only ?1/pip,a good account growth percentage on a relative basis. I have not increased my ?/pip value as of yet because i have concerns which i would like MO,TRO,ES PIPS and DRAGON to help with.

My main concerns are timing of entries with the least amount of drawdown,even though at times i've gone 10 trades in a row without a loss,sometimes a few of those trades have been -50/60 pips before being a winning trade.

I need to drastically improve my timing which will give me the confidence to increase my pip value with proper money management.

I know everyone fashions their own way of trading MO's teachings, ES PIPS trades slightly different to DRAGON yet both are successful,what advice would you guyz give me on improving my timing??

I think im looking at the bigger picture and higher TF MOMO but sometimes get caught on trading from daily extremes when the market does'nt turn on shorter TF MOMO.

To MO,if on any given day i see the market has made a new low with some heavy down MOMO,but then i get strong up MOMO on a shorter TF,should i buy?? coz im trading from an extreme or wait for a retracement and sell at a better price going in line with higher TF MOMO and daily trend....reason being this is what has caught me out with the few losses i've had, even though i was only gonna trade the retracement like a scalp,the market does'nt retrace and goes down a bit more- making the shorter TF MOMO null and void..

LONG POST I KNOW(SORRY GUYZ AND GALS)

DRAGON/ES PIPS---What would you guyz advise on me trying to improve my entries so i can confidently put in a reasonable stoploss,dont get me wrong,i've had some fantastic entries with minimal drawdown as well,not consistently enough for me just yet.

You could argue that im not accepting the loss and moving onto the next trade but if you guyz can do with a 20-30 pip stoploss then so should i,except maybe im slightly too early or too late.......im waffling i know guyz
:lol: just a few losing trades tells me im managing the trades ok at this risk level because its worthless to me,but would i crack up and close the trades at higher ?/pip level.....probably yes....hence why i need your help improving timing....

DRAGON,your entry technique on page 55 of this thread is a little different to your later posts,are you using rat reversals now??anything to help better timing.....

I know it may sound like im a doom and gloom merchant ](*,)

But i owe a lot to all here especially MO,TRO DRAGON ESPIPS

Im a' work in progress' :D

Sorry to have gone on a bit, be assured that people here are changing lives,not because of what i've achieved coz that is miniscule compared to where guyz like dragon,es pips are,but because it gives me the belief that i will share the same success not long from now

forgive any typos :evil:


I just show different techniques to enter trades but the basics are all the same. As you know by now is your timing very important. If you can make a 600 ? 700% in just 6 weeks i think you are on your way to make a lot more.
It means you are able to pick the right direction of the main trend. There are a few options to make your timing better.

Start drawing zerolines on the smaller frames and look for those very near to the higher frames. Then you can apply the entry technique on page 55 or you can trade the ratentry around those areas.

Mo does say it all the time. Price closes above a line or doesn't close above a line. Those are the only options out there.
Just trade from line to line. If price does not come to your line then seek for another entry or other opportunity but don not force your trade, it doesn't work.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

lazygeorge
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Postby lazygeorge » Mon Jul 12, 2010 7:52 pm

dragon33 wrote:
lazygeorge wrote:Hi All,

I want to start by saying that i have been a long time lurker on these forums and followed the success of guyz like dragon and es pips closely,i've also made a few post here and there, mainly to ask and clarify questions along the way.

I am inspired by MO's teachings and contribution and thank him and Tro wholeheartedly for everything.

After going thru the NLA and this thread,and after proving the Zline concept to myself on DEMO i finally decided on 1st june 2010 to go 'LIVE'.

Dragons sucess of taking a small account into approx 22k in approx 3mths was, and still is a great inspiration to me,something i'd like to emulate myself.

I started my live account with only ?100 on the 1st of june and as of now it is at ?782 in 6wks trading at only ?1/pip,a good account growth percentage on a relative basis. I have not increased my ?/pip value as of yet because i have concerns which i would like MO,TRO,ES PIPS and DRAGON to help with.

My main concerns are timing of entries with the least amount of drawdown,even though at times i've gone 10 trades in a row without a loss,sometimes a few of those trades have been -50/60 pips before being a winning trade.

I need to drastically improve my timing which will give me the confidence to increase my pip value with proper money management.

I know everyone fashions their own way of trading MO's teachings, ES PIPS trades slightly different to DRAGON yet both are successful,what advice would you guyz give me on improving my timing??

I think im looking at the bigger picture and higher TF MOMO but sometimes get caught on trading from daily extremes when the market does'nt turn on shorter TF MOMO.

To MO,if on any given day i see the market has made a new low with some heavy down MOMO,but then i get strong up MOMO on a shorter TF,should i buy?? coz im trading from an extreme or wait for a retracement and sell at a better price going in line with higher TF MOMO and daily trend....reason being this is what has caught me out with the few losses i've had, even though i was only gonna trade the retracement like a scalp,the market does'nt retrace and goes down a bit more- making the shorter TF MOMO null and void..

LONG POST I KNOW(SORRY GUYZ AND GALS)

DRAGON/ES PIPS---What would you guyz advise on me trying to improve my entries so i can confidently put in a reasonable stoploss,dont get me wrong,i've had some fantastic entries with minimal drawdown as well,not consistently enough for me just yet.

You could argue that im not accepting the loss and moving onto the next trade but if you guyz can do with a 20-30 pip stoploss then so should i,except maybe im slightly too early or too late.......im waffling i know guyz
:lol: just a few losing trades tells me im managing the trades ok at this risk level because its worthless to me,but would i crack up and close the trades at higher ?/pip level.....probably yes....hence why i need your help improving timing....

DRAGON,your entry technique on page 55 of this thread is a little different to your later posts,are you using rat reversals now??anything to help better timing.....

I know it may sound like im a doom and gloom merchant ](*,)

But i owe a lot to all here especially MO,TRO DRAGON ESPIPS

Im a' work in progress' :D

Sorry to have gone on a bit, be assured that people here are changing lives,not because of what i've achieved coz that is miniscule compared to where guyz like dragon,es pips are,but because it gives me the belief that i will share the same success not long from now

forgive any typos :evil:


I just show different techniques to enter trades but the basics are all the same. As you know by now is your timing very important. If you can make a 600 ? 700% in just 6 weeks i think you are on your way to make a lot more.
It means you are able to pick the right direction of the main trend. There are a few options to make your timing better.

Start drawing zerolines on the smaller frames and look for those very near to the higher frames. Then you can apply the entry technique on page 55 or you can trade the ratentry around those areas.

Mo does say it all the time. Price closes above a line or doesn't close above a line. Those are the only options out there.
Just trade from line to line. If price does not come to your line then seek for another entry or other opportunity but don not force your trade, it doesn't work.
Hi dragon,

Thank you for your kind words of inspiration,you are right,
i do have a slight feel for which way the market will move,
before knowing about the z line concept i would hold on
for too long and get z lined

so do you mean draw 15 min zline which is close to say,1hr or 4hr
z line and trade away with e.g rat entry?

but only using the 15 as entry and actually trading from either 1hr
zl to 1hr zl or 4hr to 4hr??

Also just to be clear,the smaller tf z line or any line for that matter
has to have 1.body in the direction of profit
2.wick in the direction of a loss(i say this coz not all the time
you get the wick in the direction of a loss)

I am inspired by your story,this is what firms my belief that the small
guy can truly become big......hope to keep in touch with my progress
and hope you will help where needed.....thank you

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