An illustration - not the best maybe.
Price is like a special river, and this river is flowing up and down, up and down, up and down, and sometimes up, up ,up etc. sometimes fast and sometimes slow.
Where do u want to go? if u have = good, wait for the flow to be correct and start the boat. When i am in the boat, is it going where i want to go?
a) I am going to reach soon, the flow is strong. the flow is getting stronger. Stay in the boat.
b) It is going to take awhile, the flow is still. Get down 1st. i don't like to wait.
c) Oh no, it is going backward - i better get down the boat 1st.
d) i am backward to far - looks like i am not going to get there and i should have got down EARLIER. tsk tsk i should have bought that $888/- indicator that i was going backward
Can u reach your destination with just flowing with the water? Each time, when is the best time to make your decision? The best time is always at the earlier minutes/hours or the beginning, or else the dock will close at 5pm.
I may not have the best tools to forecast the weather, or the best tips from the meteorologist. Each time before i got on the boat, i put my hand in the river and feel. If i got backward, i have to make sure i don't get backward too much. Some stats/numbers can help me to feel the flow better.
Now PLUGIN all the tools by MO/TRO to help to get to the destination. MO even got a tool to help u set destination, if u don't know where to go. We are all pampered.
MO's MBT Micro
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- TygerKrane
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b) 40 pips in 1 hour - What does it tell u? Feel it.
c) 100 pips in 1 hour - What does it tell u? Feel it.
Usually, it tells me that I should have stuck with my statistical edge trading. And I feel stupid because it happens RIGHT WHEN I decide to stray from my predetermined plan.
(I know...that's NOT the point you were trying to make.)
Thanks for the excellent posts.
**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!
I dont think its a good example in case of the MZ, since we actually jump in the boat when the river stalled.
Like someone said, the market is retesting 2/3 of the time... so if you jump in when the current is strong, you will probably go back to your starting point...
I am starting to think the quote "trend is your friend" is overated. I mean its obvious you cannot make money if the price doesnt go you way, if others dont buy or sell like you just did. The problem is you cannot jump in for a free ride that easily... thats the misconception...
Like someone said, the market is retesting 2/3 of the time... so if you jump in when the current is strong, you will probably go back to your starting point...
I am starting to think the quote "trend is your friend" is overated. I mean its obvious you cannot make money if the price doesnt go you way, if others dont buy or sell like you just did. The problem is you cannot jump in for a free ride that easily... thats the misconception...
- prochargedmopar
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#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
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pablo101 wrote:MightyOne wrote:Pretend that I am not here
I just thought that it was interesting how the TREE unfolded.
LOLOLOL, I knew you miss us so much and couldn't stay away you forex addict
As for your chart, bah I say
It is a chart of the OPEN & CLOSE condensed until forming a single line (FYI)
You then must understand that the patterns can unfold in: long or short trends, condensed or fluffy , and that patterns will never be exactly the same (like one tree is to another).
If you can find a tree on a long term chart then it is possible to predict price out several years into the future.
This is the discretionary side of E&N waves; the discomforting reality that price action cannot fit into a box.
newark18 wrote:Franck,
Can you go into the M5 exit that you are referring to? Was it the MO post that I listed?
I remember that there was one post where MO said to work on M5 entries and exits so as not to lose. Anyone remember that post and its location?
When price (as a unit) closes over a line that you believe to be support or resistance then something is WRONG.
The only place that you should enter into a position is in black ie the wicks.
Wicks show the way not...
bodies show the way.
This is the heart of trading.
- Jalarupa
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Hey MO,
Really appreciate your insight and I must say that I have started to apply your Zline with TRO's RAT Method and it is producing winner after winner...
Trading in one direction is really something that has taken a lot of discipline on my part, but using the wicks to enter a trade make it easier, as trades seldom turn bad if you getting in the turning point of the extreme... I stuck in this trade a bit long adding to my position every time because I needed the long position @.077 to be zero'd (or close).
I just want to say that I study your and TRO's graphs on NLA and haven't looked at a squiggly line in 2 months... I think I'm started to get cured on technical over analysis...
Also growing a $400 MBT account slowly but surely...
Abregardo!
Thanks Man!
Really appreciate your insight and I must say that I have started to apply your Zline with TRO's RAT Method and it is producing winner after winner...
Trading in one direction is really something that has taken a lot of discipline on my part, but using the wicks to enter a trade make it easier, as trades seldom turn bad if you getting in the turning point of the extreme... I stuck in this trade a bit long adding to my position every time because I needed the long position @.077 to be zero'd (or close).
I just want to say that I study your and TRO's graphs on NLA and haven't looked at a squiggly line in 2 months... I think I'm started to get cured on technical over analysis...
Also growing a $400 MBT account slowly but surely...
Abregardo!
Thanks Man!
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