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

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dragon33
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Postby dragon33 » Mon Sep 27, 2010 4:41 pm

lukx wrote:someone please tell me that it was ok trade (based on dragon rules) it just didn't work out:

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H4 and higher rules over the smaller frames. This is what most people forget every time. Why do i need to repeat it over and over again!!!

http://s906.photobucket.com/albums/ac26 ... 444444.gif
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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adaseb
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Postby adaseb » Mon Sep 27, 2010 4:46 pm

Today was a ranging day to trade.

Most Mondays are when there is no major news. It was good to scalp for a few pips here and there off but that's about it.

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lukx
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Postby lukx » Mon Sep 27, 2010 4:51 pm

dragon33 wrote:
lukx wrote:someone please tell me that it was ok trade (based on dragon rules) it just didn't work out:

Image


H4 and higher rules over the smaller frames. This is what most people forget every time. Why do i need to repeat it over and over again!!!

http://s906.photobucket.com/albums/ac26 ... 444444.gif


hmm, I was trading away from sema on 4h and with 1h color when in trade... well what can I say...same old same old...

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adaseb
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Postby adaseb » Tue Sep 28, 2010 2:41 am

Basically if you want the best chance of success in trading these MZ/ZL/Support/Resistance/Whatever you want to call these areas is like so.

This works best if you are making new highs/lows and your in a major resistance/support (bearish/bullish MightyZone).

If price is making new highs, wait until it fails to make a higher high. This works best if some time has lapsed between because you want accumulation of stop orders below a certain area.

These stops are set by the traders that are anticipating a breakout even higher.

These setups don't happen every day. Maybe once or twice a week on EU GU pairs. Only do these pairs.

There is no reason to use a stop greater than 10 pips. Risk 0.25% of your account or less. Trail your target at 25,45,85 pips. This way if you get a good runner you'd come out with a 5 to 1 risk/reward ratio.

If you do this in the long run you should NEVER LOSE AGAIN!!!


Just remember look for good setups.

Look for a major support/resistance areas or Mightyzone where price might turn.

Let the market attempt to make higher highs (or lows) and let it show you that it fails to close higher (lower).

Then look for a good area where you would put your stop if you wanted to trade the breakout. And use this area as your limit order.

Use a tight stop, and let your profits run. Don't be gay and close the trade at like 15 pips. You're never going to win this way.

Here are some charts and GOOD LUCK






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cwn6161
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Postby cwn6161 » Tue Sep 28, 2010 2:53 am

I keep seeing 1-2-3s on all those charts! Nice examples :)

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lukx
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Postby lukx » Tue Sep 28, 2010 9:11 am

this one worked out:

Image

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adaseb
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Postby adaseb » Tue Sep 28, 2010 9:19 am

lukx wrote:this one worked out:

Image


Yeah the news sure helped you out.

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lukx
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Postby lukx » Tue Sep 28, 2010 1:26 pm

and this didn't work out:
Image

I think I'm done ... I'm on edge of loosing my job, ain't gonna make money trading... time to pack my things , sell them and start living under the bridge.

cwn6161
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Postby cwn6161 » Tue Sep 28, 2010 2:30 pm

lukx wrote:and this didn't work out:
Image

I think I'm done ... I'm on edge of loosing my job, ain't gonna make money trading... time to pack my things , sell them and start living under the bridge.


Don't let 500+ pages of this thread go to waste.

Look at the trade you took. Look at the charts adaseb posted. Do you see how his entries are the opposite of your trade?

Have you tried trading daily candles only?

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lukx
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Postby lukx » Tue Sep 28, 2010 2:38 pm

cwn6161 wrote:
lukx wrote:and this didn't work out:
Image

I think I'm done ... I'm on edge of loosing my job, ain't gonna make money trading... time to pack my things , sell them and start living under the bridge.


Don't let 500+ pages of this thread go to waste.

Look at the trade you took. Look at the charts adaseb posted. Do you see how his entries are the opposite of your trade?

Have you tried trading daily candles only?


but I tried to go with dragon rules, I can't see adaseb way similar in anyway to dragon

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