es/pip wrote:
It looks fine to me...
Moderator: moderators
MightyOne wrote:pierre23 wrote:With $138 and proper MM I can't see you getting your 4k back anytime soon lol
If you have a goal of so many pips a day and can reach that target every day, then you could consider (if you have the funds) to deposit more money into the account to make larger trades, sticking to that pip target a day with strict money management.. then you'll be able to recover quicker
$138 t0 $4,000 in 18 or 19 weeks easy
I would not add money to the account after losing money.
Every time you make $50 trading then match it with a deposit of $50 until you blow up your account or are making so much trading that it becomes impossible to match
MightyOne wrote:Where can I enter so that it is safe?
How do I know that I will not lose money?
What if I pick the "wrong" ZL?
This is all crazy talk!
If you want to be safe then trade in the direction the market is moving.
You cannot know what the market is going to do and that is why there is this little thing stopping us all from making gagillions called RISK.
If you enter at a good price and the market closes against you on a 5m chart then you still have plenty of opportunity to half or eliminate your loss by demanding a better price to exit.
(PSST! The market doesn't move str8 up or str8 down...don't tell any one!)
By far the dumbest thing I have seen in text is "picking the wrong ZL"
Oh yeah, this is the same chart section from es / pip's post if you wanted to know
ajaymein wrote:Hey MightyOne,
How about posting a LIVE zero line chart in the making that ends up hitting like you did a while back? That would be verrryyyy nice and helpful =)
Thanks!
cfabian wrote:Ok guys... I've one example for you and need your opinion on how to approach it.
You'll see in the image, there's 2 ZL that can be used. According to what I understand, both are valid setups to place a trade, but contrary direction.
Please look at it and post your opinion. Probably I'm missing something on the pic to tell me which way... or the other option is to stay out until further comfirmation.
BTW: you people take images and add the partial lines (like the red ones) with an editor, or you can add them on MT4? As I can only add horizontal lines on MT4 full width not smaller (unless you know how to do so),
Cheers
razorboy wrote:Sorry let me rephrase this post - I dont see one of your z lines to be valid based on the guidelines below - the lower z line - doesnt seem to be in the right place - no reason to go long
If I was using MO's rules of thumb - from a previous post - [s]probably nothing to do
- "rule" 2 isnt satisfied - it is a less than enthusiastic breakout to the upside and I don't see the criteria to go short - yes I know price fell like a stone afterwards - but that was after a downside breakout that followed...[/s]....
1. there is a breakout
2. the range of the breakout candle becomes => than the prev. candle
3. price closes by at least x above the breakout.
4. Age your zero line: After step 3, put a 1 above prev. candle and increase this number every time there is an additional close above the ZL without price returning to it.
5. destroy on impact or use dots that end after impact so chart does not become a mess.
cfabian wrote:Ok guys... I've one example for you and need your opinion on how to approach it.
You'll see in the image, there's 2 ZL that can be used. According to what I understand, both are valid setups to place a trade, but contrary direction.
Please look at it and post your opinion. Probably I'm missing something on the pic to tell me which way... or the other option is to stay out until further comfirmation.
BTW: you people take images and add the partial lines (like the red ones) with an editor, or you can add them on MT4? As I can only add horizontal lines on MT4 full width not smaller (unless you know how to do so),
Cheers