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

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spa
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Postby spa » Fri Dec 11, 2009 3:30 pm

dragon.. what about this trade... yellow line marks 15min ZL after we saw the 4h MZ wicked .. #1 is momo #2 wick .. this could have also been ttaken, at what would have been a small loss
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johny
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Postby johny » Fri Dec 11, 2009 3:50 pm

Aliassmith,

Dragon's live account posts are in Babypips NLA archive. That archive is available in Kreslik's NLA thread (1st page) as a zip file posted by Shane.

- J

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adaseb
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Postby adaseb » Fri Dec 11, 2009 4:54 pm

spa wrote:dragon.. what about this trade... yellow line marks 15min ZL after we saw the 4h MZ wicked .. #1 is momo #2 wick .. this could have also been ttaken, at what would have been a small loss


I think this would of been a valid point also. However it fails here.

Maybe because it needs to go DEEPER into the H4 ZL area.

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dragon33
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Postby dragon33 » Fri Dec 11, 2009 4:57 pm

aliassmith wrote:
dragon33 wrote:This should be an answer to a lot of people who are struggling with the entry and the SL.

Lets start with a picture!
Image

Lets say you are entering with a limit order at the 50% section of the H4 candle from where the lines are starting. That way you are entering without any view what price will do next!!! This is told several times but for those who don't have the discipline to wait put your SL at the bottom or the 0% section!!!

On the next picture i will give you other possibilities.

Image

The white lines on this picture are the same as on previous picture drawn on the H4 chart. The red lines are the new analysis!
Now you can see what would have happened if you got in with a limit. It depends on what for trader you are if you like this or not!! I don't!!

The first blue candle gives you a hint of a possible change but you need to see first some things befor that candle will hold! Let that candle close and see what happen next. Put a line at the 50% area and if price hit that line and run away in the direction you want be ready to enter at body close or high!!! You will make pips immediately. Put your SL at the bottom of the candle with the drawings on!!! If the SL is bigger then 20 take it at your own risk. This was 18 pips. Lets tune the SL.

Image

Now you can see how it is possible to tune the SL. You could have entered with a SL of just 8 pips and when you look up that was a nice RR ;-)
For targeting another difficult part. Every previous H1 open, close or 50% area is a possible stoppoint so be ready to close and try to reenter.


Very nice explaination of doing both entry types . There are other ways
also and I think each trader will need to make a choice that will be best for
them. Usually there is not a one size fits all approach when it comes to trading.

BTW Dragon33, In what thread was it that you posted your live account
going from 400 Eur to 22K Eur? I can't seem to find it.


Of course there are other ways to trade! But i can tell you for sure that trading without lagging indicators is the best type of trading. I think i almost traded everything there is in during my learning curve.

The reason why i still pick in on this method is because there is a lot of interest for and it works great. It takes some time to understand but once you start seeing you just have to do it. Most people enter like picture one of my previous post and that is not the right way to do it.

After all the difficult part of trading is deciding where to enter and put your SL. Targeting is the next part and that's where a lot of people get confused by marketing techniques on the internet.
Yes it is possible to run a few hunderd pips but it ain't that easy like all people are saying.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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dragon33
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Postby dragon33 » Fri Dec 11, 2009 5:00 pm

JESGPY wrote:Guys can you help me out and tell me if this was a valid Z-line trade.

Image


thanks for your opinions, advice, and corrections


JUAN


That's a correct zero trade. Keep doing this over and over and after a while you are able to pick the first candle to enter the same way you did now!
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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dragon33
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Postby dragon33 » Fri Dec 11, 2009 5:07 pm

spa wrote:dragon.. what about this trade... yellow line marks 15min ZL after we saw the 4h MZ wicked .. #1 is momo #2 wick .. this could have also been ttaken, at what would have been a small loss


Damn, you need to read what we are saying.

[glow=red]A ZEROLINES IS NOT THE RIGHT PLACE TO ENTER IT IS A CONFIRMATION YOU PICKED THE RIGHT DIRECTION[/glow]

I would never have taken that trade because you are selling while price is short????? See where the momo up marked by your nr1 bounces at the 50% area of a drop down candle. Price is NOT ready yet. In the next picture i'll show you why it is important to use H1 as your master chart.

Image

Entering at a M15 zeroline is gambling nothing more, certainly when you don't consider all the frames at once. You always need to see the first step of running a way. I takes just 15 more minutes of waiting, that's it. I don't talk for my pleasure about open, close and 50% areas of the H1 candle i do that for you guys.
Last edited by dragon33 on Fri Dec 11, 2009 5:25 pm, edited 1 time in total.
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 » Fri Dec 11, 2009 5:18 pm

dragon33

How did you know that price would reverse and go long in this chart?

How did you know that it wouldn't bounce 10-20 pips and head to the 0% of the H4 ZL ?

Image

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dragon33
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Postby dragon33 » Fri Dec 11, 2009 5:28 pm

adaseb wrote:dragon33

How did you know that price would reverse and go long in this chart?

How did you know that it wouldn't bounce 10-20 pips and head to the 0% of the H4 ZL ?

Image


sorry edit previous post, watch it and you will understand!

The first blue candle up has taken all the possible M15 held profit at once. On the other side we hit the H4 zone AND the H1 zone. Then you start drawing on the M15 chart. H4 and H1 are taken out now you are looking for an entry on the M15 once you are in you start targeting a H1 area (open close or 50%)
Do you see how price came back on that M15 candle watch eventually previous pictures again and you know with a high probability you are going to hit a nice run. Entry and SL should be similar to mine and you will make money in the future.
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

aliassmith
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Postby aliassmith » Fri Dec 11, 2009 6:10 pm

dragon33 wrote:
aliassmith wrote:
dragon33 wrote:This should be an answer to a lot of people who are struggling with the entry and the SL.

Lets start with a picture!
Image

Lets say you are entering with a limit order at the 50% section of the H4 candle from where the lines are starting. That way you are entering without any view what price will do next!!! This is told several times but for those who don't have the discipline to wait put your SL at the bottom or the 0% section!!!

On the next picture i will give you other possibilities.

Image

The white lines on this picture are the same as on previous picture drawn on the H4 chart. The red lines are the new analysis!
Now you can see what would have happened if you got in with a limit. It depends on what for trader you are if you like this or not!! I don't!!

The first blue candle gives you a hint of a possible change but you need to see first some things befor that candle will hold! Let that candle close and see what happen next. Put a line at the 50% area and if price hit that line and run away in the direction you want be ready to enter at body close or high!!! You will make pips immediately. Put your SL at the bottom of the candle with the drawings on!!! If the SL is bigger then 20 take it at your own risk. This was 18 pips. Lets tune the SL.

Image

Now you can see how it is possible to tune the SL. You could have entered with a SL of just 8 pips and when you look up that was a nice RR ;-)
For targeting another difficult part. Every previous H1 open, close or 50% area is a possible stoppoint so be ready to close and try to reenter.


Very nice explaination of doing both entry types . There are other ways
also and I think each trader will need to make a choice that will be best for
them. Usually there is not a one size fits all approach when it comes to trading.

BTW Dragon33, In what thread was it that you posted your live account
going from 400 Eur to 22K Eur? I can't seem to find it.


Of course there are other ways to trade! But i can tell you for sure that trading without lagging indicators is the best type of trading. I think i almost traded everything there is in during my learning curve.

The reason why i still pick in on this method is because there is a lot of interest for and it works great. It takes some time to understand but once you start seeing you just have to do it. Most people enter like picture one of my previous post and that is not the right way to do it.

After all the difficult part of trading is deciding where to enter and put your SL. Targeting is the next part and that's where a lot of people get confused by marketing techniques on the internet.
Yes it is possible to run a few hunderd pips but it ain't that easy like all people are saying.


Dragon33,

I think maybe you got the wrong impression about my response.
I was not talking about other trading methods, such as indicators
and such. Personally I use zlines, fibs, S/R. What I am saying is
that you have many was to manage a zline trade.

One could build a whole strategy around building positions on
large timeframes using zlines. One could do multiple lots in and
partial lots out. Just saying trade management using zlines can
be successful many different ways.

Yesterday I scalped some pips and used those to "trade the eternal"
on a EUR/JPY yesterday around 4pm EST long. MightyOne has been
a great source of information.
Trade Your Way as Long as It Makes Money!

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adaseb
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Postby adaseb » Fri Dec 11, 2009 6:12 pm

dragon33 wrote:
adaseb wrote:dragon33

How did you know that price would reverse and go long in this chart?

How did you know that it wouldn't bounce 10-20 pips and head to the 0% of the H4 ZL ?

Image


sorry edit previous post, watch it and you will understand!

The first blue candle up has taken all the possible M15 held profit at once. On the other side we hit the H4 zone AND the H1 zone. Then you start drawing on the M15 chart. H4 and H1 are taken out now you are looking for an entry on the M15 once you are in you start targeting a H1 area (open close or 50%)
Do you see how price came back on that M15 candle watch eventually previous pictures again and you know with a high probability you are going to hit a nice run. Entry and SL should be similar to mine and you will make money in the future.


By the first blue candle up are you referring to A or B?

Image

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