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

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IN-XS
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Postby IN-XS » Fri Jan 08, 2010 6:03 pm

Close trade for a few pips, better to take small profits when you can, or when you trade like me, lol!

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cfabian
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Postby cfabian » Fri Jan 08, 2010 6:18 pm

And there it goes... this would have meant an additional 35 pips at the moment. But hey... as dragon says... first learn to learn how to ride the bike. Get what you can until you feel comfortable.

Actually, my hands were sweating while holding this trade (how cute ehh)

Image



cfabian wrote:Nice.... pulled out 22 pips from this sucker... finally something with 2 digits (and positive of course). I guess will continue up, but wanted to secure this achievement.

BTW, I'm always trading live... small lots, but different story than demo. I recommend it.

Image
:oops: :oops: :oops: :oops:
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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Postby IN-XS » Fri Jan 08, 2010 6:25 pm

It hurts, does'nt it? lol! Anyway I think that is me done for the day cfabian, take care and I will be back for some more trading next week.

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Postby cfabian » Fri Jan 08, 2010 7:41 pm

Thanks dragon... that chart was for example purposes of what I meant without meaning to look for a setup in that TF.

Actually, that +22 trade I had was from M15, but pinpointing with M5.

It is amazing how good it feels to have a successful trade, not a wow amount of pips, but a good amount. For sure this will make my weekend and will come back eagerly next week. If I feel like this today, I wonder what would it be to hit those long rides with a respectable amount of lots?????? Going there!!!!!




dragon33 wrote:
cfabian wrote:Thanks again master dragon, very clear your explanation.

Just one question here along... weather the breakout is on the candle holding the # mark, or it can be on a consecutive candle? This arise my attention as many times long candles are the ones holding the # mark, making its breakout somewhat distant to where price is at the moment.


Image


dragon33 wrote:
cfabian wrote:Hey Dragon,
Here's your chart where I made some comments.

The red circles show the points where at some point there were #2 or #3 values, before they were broken out. The question is weather you are alert to try to trade on the break out of the body of each one?

The second note is where your entry is... questioning weather you trade at the break out of the line in the very first candle, or wait till the next one to wick the line after price crossed it, and enter in that small retrace (in this case in the long bullish candle).

Thanks in advance.

Image





dragon33 wrote:
JESGPY 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.



Dragon

is this trade correct acording to your explanation I quoted above

1h Mo Zone

Image

5m entry of 1h MO zone

Image

Thanks for your feedback

JUAN


Yes but try to make your entry after price came back. So you have your entry candle. wait for price to come back and then you enter. It is less drawdown


The points with the red circles are places where you can think of making an entry but it is you who decide to enter or not. What i do is pointing out where i would like to enter with high probability. This is drawn in yellow.

The entry i showed is very agressive and i don't recommend doing that. In the picture below you can see the right entry where i was talking about before. It is better to wait untill you see reverse, read other color, before you take the trade in another direction. That's just my experience. The entry place was also a double bottom visible on H4, H1 and even on M15 if you had a 22" screen.

Image


I really want you to see the difference between M5 and M15.

I would never consider going long there because the candle with the two is to big. It is also still in the beginning of the hour. You need to look very closely to my charts, my entrys are almost with the same color as H1.

But to answer the question, yes you can make your entry on the candle after the mark if it fits my plan and the marked candle is also that big then i make my entry on the second candle. Another point i'm telling a lot is to wait for the first candle in the other direction look where that candle closes and watch the high if it stops on previous 50% area we are not going up!!!
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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Postby roger_over » Fri Jan 08, 2010 11:15 pm

Hello everyone, I have been reading the posts and attempting to absorb as much as possible. However I am a bit confused on exactly where to begin, If I could please trouble one of you to kindly guide me a bit? Should I start with the NLA thread? I tried to DL it last night and it made my PC go bonkers maybe it is bec I am using WVista. Will try tonight on WXP Anyhow I have been trading using Averies Rat method which I am getting the hang of nicely , however I would like to be able to get into longer runs and not so much scalping, I noticed that Dragon gave a hint of applying that technique with the ones used here. I have not found where there is a ZLine indicator available with TRO"s donational (only Blubbs Zline) Is this the one I should use? any other indicator I should use?? I really appreciate any help. What an awesome Forum (a great bunch of people) I have not seen such in the past 3 + years of trading/training.
Much Mahalo"s and Thank you for your time

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Postby pablo101 » Sat Jan 09, 2010 3:08 am

roger_over wrote:Hello everyone, I have been reading the posts and attempting to absorb as much as possible. However I am a bit confused on exactly where to begin, If I could please trouble one of you to kindly guide me a bit? Should I start with the NLA thread? I tried to DL it last night and it made my PC go bonkers maybe it is bec I am using WVista. Will try tonight on WXP Anyhow I have been trading using Averies Rat method which I am getting the hang of nicely , however I would like to be able to get into longer runs and not so much scalping, I noticed that Dragon gave a hint of applying that technique with the ones used here. I have not found where there is a ZLine indicator available with TRO"s donational (only Blubbs Zline) Is this the one I should use? any other indicator I should use?? I really appreciate any help. What an awesome Forum (a great bunch of people) I have not seen such in the past 3 + years of trading/training.
Much Mahalo"s and Thank you for your time


Hi roger_over,

Most of us pretty much started at the NLA thread and the concept of this method started around page 130, its a long read but worth it ;)

Because the thread is long, you may find problems opening it on the last page but some kind soul has archived it, placed it on a separate thread and you can download it to your computer for easier reading. I can't remember the link name so do a search or someone here can show you it.

I don't think TRo has a zline indi in his arsenal but blubbb has kindly provided some good stuff for this way of trading, go to his thread

http://kreslik.com/forums/viewtopic.php?p=32504#32504
What line? The line that tells you which way you are trading! - MO

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Postby pablo101 » Sat Jan 09, 2010 3:23 am

IN-XS wrote:Dragon, you said "if it stops on previous 50% area we are not going up!!!". Does this 50% area include the wicks, or just the body of the candle? Thanks for all your help and to everybody!


My thinking only, I think only the body counts because of held profit!?

Here's some pics I think can help (or hinder so please step in and correct me if I'm wrong)

(A) shows price gets to 50% so better chance of it still going down.

(B) shows price closing past 50% so not a good short sign

(C) shows strong momo in the opposite direction, see candle closes higher, or a little lower close from the previous candle open or sometimes even completely engulfing previous candle.

Image

Image

Image

What do you guys mean by "a candle closing against you"? Any pics?
What line? The line that tells you which way you are trading! - MO

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Postby pablo101 » Sat Jan 09, 2010 3:27 am

IN-XS wrote:I should have held on a bit longer, it still had a bit left to go.


I've gotta stop posting :(
Last edited by pablo101 on Tue Jun 15, 2010 5:51 am, edited 1 time in total.

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Postby pablo101 » Sat Jan 09, 2010 3:39 am

dragon33 wrote:
cfabian wrote:Thanks again master dragon, very clear your explanation.

Just one question here along... weather the breakout is on the candle holding the # mark, or it can be on a consecutive candle? This arise my attention as many times long candles are the ones holding the # mark, making its breakout somewhat distant to where price is at the moment.


Image


dragon33 wrote:
cfabian wrote:Hey Dragon,
Here's your chart where I made some comments.

The red circles show the points where at some point there were #2 or #3 values, before they were broken out. The question is weather you are alert to try to trade on the break out of the body of each one?

The second note is where your entry is... questioning weather you trade at the break out of the line in the very first candle, or wait till the next one to wick the line after price crossed it, and enter in that small retrace (in this case in the long bullish candle).

Thanks in advance.

Image





dragon33 wrote:
JESGPY 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.



Dragon

is this trade correct acording to your explanation I quoted above

1h Mo Zone

Image

5m entry of 1h MO zone

Image

Thanks for your feedback

JUAN


Yes but try to make your entry after price came back. So you have your entry candle. wait for price to come back and then you enter. It is less drawdown


The points with the red circles are places where you can think of making an entry but it is you who decide to enter or not. What i do is pointing out where i would like to enter with high probability. This is drawn in yellow.

The entry i showed is very agressive and i don't recommend doing that. In the picture below you can see the right entry where i was talking about before. It is better to wait untill you see reverse, read other color, before you take the trade in another direction. That's just my experience. The entry place was also a double bottom visible on H4, H1 and even on M15 if you had a 22" screen.

Image


I really want you to see the difference between M5 and M15.

I would never consider going long there because the candle with the two is to big. It is also still in the beginning of the hour. You need to look very closely to my charts, my entrys are almost with the same color as H1.

But to answer the question, yes you can make your entry on the candle after the mark if it fits my plan and the marked candle is also that big then i make my entry on the second candle. Another point i'm telling a lot is to wait for the first candle in the other direction look where that candle closes and watch the high if it stops on previous 50% area we are not going up!!!


No momo going in the opposite direction on the five minute so toughie decision to take this long. But there was momo on the candles after this fact.

Worked out anyway so nice one ;)
What line? The line that tells you which way you are trading! - MO

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pablo101
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Postby pablo101 » Sat Jan 09, 2010 4:27 am

cfabian wrote:Nice.... pulled out 22 pips from this sucker... finally something with 2 digits (and positive of course). I guess will continue up, but wanted to secure this achievement.

BTW, I'm always trading live... small lots, but different story than demo. I recommend it.

Image


Still demo-ing, almost doubled my account then on to micro and try and double that then ready for bigger lots.

I thought I knew what I was doing, Mon up account up 35%, Tues up 36% but Wed to Fri was a struggle. NFP? bah I want to blame it but I came to the conclusion that I was taking every trade and not waiting for a trade! ego I think because of Mon and Tues big gains hmmmm
What line? The line that tells you which way you are trading! - MO

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