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

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
IN-XS
rank: 150+ posts
rank: 150+ posts
Posts: 304
Joined: Tue Jan 27, 2009 12:00 am
Reputation: 0
Location: UK
Gender: Male

Postby IN-XS » Sat Jan 09, 2010 1:51 pm

Thanks for the reply pablo101, I started trading with 50% of the candle body, but lost a few and decided to change to 50% of the body and wick for extra confirmation. This causes me to get in a bit late, so I will try 50% of just the body again, starting Monday. Thanks for the help! And I am always should've, could've thinking, lol!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
dragon33
rank: 500+ posts
rank: 500+ posts
Posts: 792
Joined: Thu Sep 18, 2008 2:41 pm
Reputation: 0
Gender: Male

Postby dragon33 » Sat Jan 09, 2010 3:31 pm

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!


Only the body! Don't shoot me when price did change. Most of the times it will not.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

User avatar
dragon33
rank: 500+ posts
rank: 500+ posts
Posts: 792
Joined: Thu Sep 18, 2008 2:41 pm
Reputation: 0
Gender: Male

Postby dragon33 » Sat Jan 09, 2010 3:36 pm

cfabian wrote: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:


Don't worry about what you have missed be happy with the gains you made. This happens to me too but hey everyday there are new opportunities. Rome isn't build in one day ;-)
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

User avatar
dragon33
rank: 500+ posts
rank: 500+ posts
Posts: 792
Joined: Thu Sep 18, 2008 2:41 pm
Reputation: 0
Gender: Male

Postby dragon33 » Sat Jan 09, 2010 3:41 pm

pablo101 wrote:
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?


Just use your own pics. Lets say you put a limit on the yellow line in a M15 frame. For safety you close your trade when a body close on the other side you expect the candle would close.
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

User avatar
IN-XS
rank: 150+ posts
rank: 150+ posts
Posts: 304
Joined: Tue Jan 27, 2009 12:00 am
Reputation: 0
Location: UK
Gender: Male

Postby IN-XS » Sat Jan 09, 2010 3:52 pm

Thank you Dragon for your reply and im not blaming you for any losses I have had with this method, just myself, as I keep thinking I must have missed something, but thanks again for your answer.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Sat Jan 09, 2010 3:57 pm

pablo101 wrote:
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?


Not 100% like everything else in the markets. :)

Candles closing against your position is sometimes a good indication
of a pullback or reversal.

I made this little picture for a friend a little while back.
Attachments
ClosedPA.JPG
ClosedPA.JPG (9.44 KiB) Viewed 1296 times
Trade Your Way as Long as It Makes Money!

User avatar
IN-XS
rank: 150+ posts
rank: 150+ posts
Posts: 304
Joined: Tue Jan 27, 2009 12:00 am
Reputation: 0
Location: UK
Gender: Male

Postby IN-XS » Sat Jan 09, 2010 4:06 pm

Thanks for even more info aliassmith, you guys are all really helpfull. Wish you luck trading next week!

User avatar
cfabian
rank: 150+ posts
rank: 150+ posts
Posts: 466
Joined: Tue Nov 04, 2008 3:37 pm
Reputation: 0
Gender: Male

Postby cfabian » Sat Jan 09, 2010 7:32 pm

You're right Pablo... this chart was only to illustrate what I was referring to. However, yes I was waiting to trade long... I waited for price crossing the yellow line... it did but slow action at that moment. I entered the trade after I saw some movement on M15... it had moved several pips by then, but better to win less in safer conditions.

Cheers



pablo101 wrote:
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 ;)
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

User avatar
cfabian
rank: 150+ posts
rank: 150+ posts
Posts: 466
Joined: Tue Nov 04, 2008 3:37 pm
Reputation: 0
Gender: Male

Postby cfabian » Sat Jan 09, 2010 7:46 pm

right... but it ill never be the same... I remember when trading demo, it is extremely complicated to treat it like a real one. It is 10000 times easier to throw trades in a demo with high leverage, then big gains.

I'm trading mini lots, and believe me the feeling is different... you'll loose or win a couple of dollars a day, but it definitely builds your temper and gives you more experience to be ready to trade bigger lots.

Just my experience and thus my advise to you... if you have the plan and method, don't over trade in demo... jump live with mini lots.



pablo101 wrote:
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
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

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

User avatar
rushN4
rank: 150+ posts
rank: 150+ posts
Posts: 165
Joined: Wed Nov 18, 2009 4:04 pm
Reputation: 0
Real name: Jochen
Gender: Male

Postby rushN4 » Sat Jan 09, 2010 11:11 pm

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!!!



Hello Dragon and Zeroline Gang :)

Dragon when you say "" 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!!!""

what do you mean exactly?

the high(wick) of the green candle when it pierced the 50% level of the previous candle body (A)

or when the green candle body close above the 50% level of previous candle (B)

on what picture do you get ready to look for a long entry ? A or B
(ignore the third candel on the pics)

Image
Image

second question:
when you say ""You need to look very closely to my charts, my entrys are almost with the same color as H1""

Do you mean the current 1h candle? (NOT CLOSED 1H CANDLE)

thank you dragon for you help
No matter where life takes you, you will always check the market and always want to continue being a part of it. It's like that first true love, it will always be there no matter what the distance, no matter whether they are alive or dead.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”