Never Lose Again

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MightyOne
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Postby MightyOne » Sat Jan 24, 2009 6:12 am

I don't agree with the use of Fibonacci in trading, but you are definitely getting better es / pip :P

The way I see it:

Image

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MightyOne
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Postby MightyOne » Sat Jan 24, 2009 6:25 am


And here is the 4 hour:


Image

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es/pip
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Postby es/pip » Sat Jan 24, 2009 7:36 pm

MightyOne wrote:I don't agree with the use of Fibonacci in trading, but you are definitely getting better es / pip :P

The way I see it:

Image


what r your thoughts on this analysis


thanks mighty one

Image

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razorboy
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Postby razorboy » Sat Jan 24, 2009 8:33 pm

MO,

I'm looking at your chart (your checks are obviously where you got filled on the upward retraces of the 5 minute candle that then fell back) - kind of the inverse way I enter what amounts to same trade - but that is neither here nor there at the moment. The one thing I am trying to determine is your logic for placing your Z lines as they all don't seem to mark previous break out points (the earliest 2 z lines mark break outs, 3rd and 4th don't seem to )

Are you using your 1/3 dot rule to make sure you dont get caught in the transition of the market from ranging to trending - to me based on where your check are you seem to be

MightyOne wrote:
highflight wrote: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 :wink:


Image

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MightyOne
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Postby MightyOne » Sun Jan 25, 2009 6:36 am

The only reason I show you lines at all is that you may learn to see.

There is a reason why I don't show you every thing all at once; you would all follow the methods mindlessly.

I want traders to take the concepts I present to them and ask them selves how, when, why, & where.
I want to see traders that are impossible to fade because their eyes
are razor sharp when it comes to seeing what is happening now and who have fingers that craft strategies on the fly that combat the mechanical nature of the other traders.

Lines are what they are

Wicks are what they are

Check marks are what they are

What do you see?

I could tell you the sun is rising and I could tell you the sun is falling :roll: LOOK UP!

I could say the line is here and I could say the line is there, but what then when I say that there are no lines?

There is only that which is formulated in the mind and brought into existence by your own hands.

Picture a TV without channels and it is just hissing and displaying black and gray squares.
This is how you should sit down in front of your charts.

There are no methods or lines or secrets
There is no rhyme or reason
There is only what you are moved to do

That said I leave you with this since you asked so kindly :oops: :

Image

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MightyOne
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Postby MightyOne » Sun Jan 25, 2009 7:14 am

es/pip wrote:
MightyOne wrote:I don't agree with the use of Fibonacci in trading, but you are definitely getting better es / pip :P

The way I see it:

Image


what r your thoughts on this analysis


thanks mighty one

Image


You don't need me telling you how and where you should enter.

I enter on 0's & 5's
My limit order gets filled or a B/S stop gets hit.
The vast majority of the time my entry is a limit order and
I do not use B/S stops.

I exit when my profit in pips is greater than the average range.
I wait for price to blow through that target and then stop at some point.
I then set an order to exit at the price extreme :?

Don't cheat your self

How would you trade the chart

What ever you decide to do is right because you created
the plan.

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ajaymein
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Postby ajaymein » Sun Jan 25, 2009 7:35 am

MightyOne wrote:The only reason I show you lines at all is that you may learn to see.

There is a reason why I don't show you every thing all at once; you would all follow the methods mindlessly.

I want traders to take the concepts I present to them and ask them selves how, when, why, & where.
I want to see traders that are impossible to fade because their eyes
are razor sharp when it comes to seeing what is happening now and who have fingers that craft strategies on the fly that combat the mechanical nature of the other traders.

Lines are what they are

Wicks are what they are

Check marks are what they are

What do you see?

I could tell you the sun is rising and I could tell you the sun is falling :roll: LOOK UP!

I could say the line is here and I could say the line is there, but what then when I say that there are no lines?

There is only that which is formulated in the mind and brought into existence by your own hands.

Picture a TV without channels and it is just hissing and displaying black and gray squares.
This is how you should sit down in front of your charts.

There are no methods or lines or secrets
There is no rhyme or reason
There is only what you are moved to do

That said I leave you with this since you asked so kindly :oops: :

Image


MO,

I have been trying extremely hard the past week to see where the ZLs are and most of the time I can plot some, but what I am getting stuck on is what to do once those ZLs are established.

Also, from what I have came to realize is that there are no SET Zero Lines...each persons chart will have Zero Lines placed at different intervals...however, if you accurately interpret what is happening, our ZLs should be similarly placed. Is this correct?

You also post soooo many zero lines on your charts...when I have been trying to make my charts, I only have a max of 3 ZLs normally...I guess I am just targeting the "Bigger ZLs" off of bigger breakouts.

But a question I had was what do you do with sooo many ZL spots? Take for instance the chart I attached....the way I SEE it, the orange line is the current ZL. What I think will happen is price will retrace back to hit that ZL and zero out some profits. If this is what YOU SEE, what would YOU do in this situation? Sell NOW and take profit at the ZL...or set buy limit orders below the ZL in hopes of a rebound after profits have been ZEROED?

Hope you can answer these questions! Thanks!!


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ajaymein
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Postby ajaymein » Sun Jan 25, 2009 7:40 am

Oh yea...I was at a point where the light bulb went off in my head when you were first explaining Zero Lines and posted a few charts in this thread. You were posting and creating ZL charts throughout the trading day LIVE and updating the charts as new bars were created and low and behold...the ZL was HIT and profits were ZEROED just as you said.

I haven't seen another LIVE example like that yet I don't think, but if you have time, please do post more LIVE examples for us...they are the most helpful ones!!

Thanks again

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MightyOne
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Postby MightyOne » Sun Jan 25, 2009 11:04 am

Yes, when ever I feel frustrated I paint...

Image

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razorboy
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Postby razorboy » Sun Jan 25, 2009 12:54 pm

Much thanks

One more silly question - B/S stop? is that a break even stop?

MightyOne wrote:The only reason I show you lines at all is that you may learn to see.

There is a reason why I don't show you every thing all at once; you would all follow the methods mindlessly.

I want traders to take the concepts I present to them and ask them selves how, when, why, & where.
I want to see traders that are impossible to fade because their eyes
are razor sharp when it comes to seeing what is happening now and who have fingers that craft strategies on the fly that combat the mechanical nature of the other traders.

Lines are what they are

Wicks are what they are

Check marks are what they are

What do you see?

I could tell you the sun is rising and I could tell you the sun is falling :roll: LOOK UP!

I could say the line is here and I could say the line is there, but what then when I say that there are no lines?

There is only that which is formulated in the mind and brought into existence by your own hands.

Picture a TV without channels and it is just hissing and displaying black and gray squares.
This is how you should sit down in front of your charts.

There are no methods or lines or secrets
There is no rhyme or reason
There is only what you are moved to do

That said I leave you with this since you asked so kindly :oops: :

Image

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


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