Never Lose Again

[highflight]

loving every thing here guys, thank you very much for all the wisdom. I like the zeroed out concept. really makes the trading efficient.

not sure if i did this right, but it made perfect sense to me while doing it.

hf

[ajaymein]

loving every thing here guys, thank you very much for all the wisdom. I like the zeroed out concept. really makes the trading efficient.

not sure if i did this right, but it made perfect sense to me while doing it.

hf

Hey there HF,

Could you please elaborate why you think the ZL should be placed where it is, and why you think people are covering below the bottom ZL instead of going long and vice versa (covering above top ZL instead of shorting).

Thanks!

[prochargedmopar]

Now there is some meat to chew on.
Thankyou MightyOne.

[highflight]

loving every thing here guys, thank you very much for all the wisdom. I like the zeroed out concept. really makes the trading efficient.

not sure if i did this right, but it made perfect sense to me while doing it.

hf

Hey there HF,

Could you please elaborate why you think the ZL should be placed where it is, and why you think people are covering below the bottom ZL instead of going long and vice versa (covering above top ZL instead of shorting).

Thanks!

Hi there,

The short and cover in the chart was what *I* did. I played short at the red arrow to try and zero out the people who got long before 03:00

01:55 I saw a breakout and lower ZL formation

02:00 - 03:00 During this hour the bottom ZL in the chart took 4 wicks, 2 candle closes below it and one break that turned out to be 8 green candles in a row. would have been a good long.. but i wasn't looking at this chart until 04:00.

Price makes high a 1.3377 and drops down to make another ZL..

I observed how it behaved in accordance with this line (upper ZL on chart). Price closed above this line 3 times in a row but notice those 3 green candles had upper wicks and weren't pushing upward very hard. (Right before the end of the hour too... hmm)

04:00 This 5min candle broke down through the line. GREAT! If price is below the line now and cand;es are going to continue to close below it.. i wanna be short. Thats where i wrote "Short above line", because now i want to get a good price right?

Look what happens next, the line gets touched 3 times and "wicked" through twice before she breaks down in earnest. that means you had 5 chances to get a price right at the line.

Since i had defined 2 lines (upper and lower) TP was set at the lower line. 25 pip run.


hf

[MightyOne]

loving every thing here guys, thank you very much for all the wisdom. I like the zeroed out concept. really makes the trading efficient.

not sure if i did this right, but it made perfect sense to me while doing it.

hf

Study this chart and don't you dare ask me what the check marks are for

[highflight]

looks like i was going into it a little blind with only the two lines.

hf

[MightyOne]

looks like i was going into a little blind with only the two lines.

I don't even draw lines on my chart

Just eye ball it...

[ajaymein]

loving every thing here guys, thank you very much for all the wisdom. I like the zeroed out concept. really makes the trading efficient.

not sure if i did this right, but it made perfect sense to me while doing it.

hf

Hey there HF,

Could you please elaborate why you think the ZL should be placed where it is, and why you think people are covering below the bottom ZL instead of going long and vice versa (covering above top ZL instead of shorting).

Thanks!

Hi there,

The short and cover in the chart was what *I* did. I played short at the red arrow to try and zero out the people who got long before 03:00

01:55 I saw a breakout and lower ZL formation

02:00 - 03:00 During this hour the bottom ZL in the chart took 4 wicks, 2 candle closes below it and one break that turned out to be 8 green candles in a row. would have been a good long.. but i wasn't looking at this chart until 04:00.

Price makes high a 1.3377 and drops down to make another ZL..

I observed how it behaved in accordance with this line (upper ZL on chart). Price closed above this line 3 times in a row but notice those 3 green candles had upper wicks and weren't pushing upward very hard. (Right before the end of the hour too... hmm)

04:00 This 5min candle broke down through the line. GREAT! If price is below the line now and cand;es are going to continue to close below it.. i wanna be short. Thats where i wrote "Short above line", because now i want to get a good price right?

Look what happens next, the line gets touched 3 times and "wicked" through twice before she breaks down in earnest. that means you had 5 chances to get a price right at the line.

Since i had defined 2 lines (upper and lower) TP was set at the lower line. 25 pip run.


hf

Thanks for explaining that...it actually made things a lot clearer to me and kind of makes sense. Please post any more trades you made that you have either faltered on or profited on.

[ajaymein]

MO...are Upper ZLs normally a candlestick or 2 below resistance or the previous candles high and Lower ZLs normally a candlestick or 2 above support?

I went to a 5min chart of cable and successfully drew what I thought to be an Upper ZL at around 3:30 and it dropped and bounced back up to hit the Upper ZL at around 6:20...I also drew a lower ZL which I am waiting to see if price indeed does what I am seeing it to do...if it does, I will be quite thrilled!

Err...if I knew how to put things on charts using MetaTrader 4 and post them I would...

[MightyOne]