My boring daily log
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Kate if your looking for more info on zlines start with Never lose again thread around page 140 and pay attention to mightyones posts. That gave me the base of info. Then the thread lukx zline trading log + cfabian p.35 + adaseb, posts by dragon33 really helped me put everything together. The best thing I ever did was marking my charts how MO and dragon did. Feel free to ask any questions and follow along with me if you want.
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Here would have been a perfect trade set up last night during the japan session. First you have a non momo 4hr bar followed by a 4hr momo. After that candle is finished I draw a open, close and a 50% line through it. I look for price to retrace either back to the 50% or open line and look for trades from there. You then have a 1,2,3 setup. 1. Non momo. 2. Momo. 3. Price retraces into the momo providing you with confirmation for the trade. In at 1.4545 out 1.4585. Then you have a bear momo. setting you up for a rat trade. Next candle retraces into the MZ. Sold at 1.4575 the mz or1.4568 the low of the candle, depending how aggressive you want to be with you entry. Your tp is the zline you just came from. Out at 1.4540. About 70 pips in three hours while you sit at home at night watching tv. I'll take that any day. Hope chart and post were clear enough for you.
Here are my 3 trades for the day. First one I enterd cause of all the reasons I listed before. Ended up targeting the daily MZ at 1.4440 since price spiked down off of news and I wanted to make sure there was no retrace up for any reason. Then a simple rat trade out of the daily MZ. And there was a h1 zline trade I took but didn't mark as there was no confirmation for the trade just price wicking a zline and then headed toward profit. 150 pips profit.
P.S. Had I moved my stop to break even on the 1st trade price would have zero'd me out and then proceed in the direction of my trade. Its amazing the little and big things I have learned from MO
P.S. Had I moved my stop to break even on the 1st trade price would have zero'd me out and then proceed in the direction of my trade. Its amazing the little and big things I have learned from MO
Here was trade from Friday and today. Didn't trade Monday or Tuesday, Fridays trade was a simple rectangle breakout. Waited for price to close outside of the reactance. Took 40 pips from that. Todays trade was just a simple zline trade. Was in a 4hr mz, saw momo, price wicked it then, body in direction of profit. 60 on that.
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It depends on my sleep schedule. I normally trade gbp/jpy or eur/aud so I like to start in the Asian session and go to New York. Doesn't always happen. Otherwise I'll normally start a hour before the London open. I missed a bunch of good trades today. But I had other things to do. That's life. Thanks for the compliment. My trades use to be all over the place afraid I was missing money by not being in the market. Now I just tell myself instead of taking all those losers, I just wait until a almost pefect setup (by my standards) is staring me in the face.
I loved your simple as 1,2,3 thread. I tried for months to get renko charts but after mt4 upgraded to 600 build they all stoped working. I still would love to get to work with renko charts some day.
I loved your simple as 1,2,3 thread. I tried for months to get renko charts but after mt4 upgraded to 600 build they all stoped working. I still would love to get to work with renko charts some day.
A couple trades to start the day. First one was taken off of the daily high. Second one is closing above something. Few days ago it broke its yearly high and has continued to close higher each day. Just going with the trend. Could have had a easy trade coming out of the 4hr mz, where the first trades exit was. Up 35 pips, see how this last trade plays out.
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