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es/pip
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Postby es/pip » Wed Mar 04, 2009 3:13 am

MightyOne wrote:
es/pip wrote:
MightyOne wrote:
es/pip wrote:all in all today made decent pips----- considering the market----------choppy


along with that other loser i had the one off the yellow lines--managed to get out at -10


thoughts?-------or is it just S#%$ happens sometimes :D

Image



You have to realize that although you are referring to the candles you are trading the psychology that they induce.

There are 2 things that I value most when trading:

1. that price never close below my entry on my smallest time frame.

2. that my entry candle never closes opposite in color on the chart my analysis is pegged to.

I can't say that I did not learn a lot from reading NLA :wink:

Absorb the market conditions and how you reacted with what happened and learn from your mistakes.
If you trade systematically day in and day out without change then you will eventually lose your edge.

+

Try scalping with stop reverse orders to offset losses.

Think about a 1/2 position reverse with 2/3 your stop trying to recover at least 1/2 your losses.

If you use experts then set an expert to manage your reverse only by changing the "manage long/short" option accordingly.


that price never close below my entry on my smallest time frame.

- do u ever enter a position off the timeframe u are trading---ie would u enter solely off a 30 min chart wicking your line---and if so--- u would then close it based on 5 min?


that my entry candle never closes opposite in color on the chart my analysis is pegged to.
- if I am pegging to a 1hr and enter of f a 1-2 on 5 min my entry bar most times is not going to close in my peg chart direction.----vrs trying to just play momentum off my larger line from the small chart

My concern now after reading what u wrote, is--- have I been getting lucky--bec I am not doing what you described above..

More or less I have been looking at all timeframes if I do not nec. Have a 1-2 on a higher timeframe but are coming into my zline--- I will look inside and try to get a 1-2 pattern on 5 min. If I see a 1-2 on the m15 or m30 I have just been taking them directly off that chart and looking inside on the hr chart---sometimes on the m30 chart I will look inside as well

I also have been wating for a 5 min close below my line and not my entry-and trying to get out after that close.


:shock: :( :(


Do not despair es / pip, I think that your trading is a little to the right of luck :wink:

You just have to recognize the difference between long term and short term charts.
Short term charts are traded with momentum and long term charts are traded with position.

When I get a setup on the 30 minute I am dropping down to a 15 minute or smaller time frame to trade that chart.

Why a 15 minute? Because my risk is based on average 15 minute range.
Again, I do not enter via a chart that is greater in time than that used to calculate risk.

That a candle not close against me: If I am not immediately right then some thing is immediately wrong.

That a candle not close opposite to my entry direction: If I am trading the 30 minute long (via a 15m or lower TF) and the 30 minute closes bearish then I would rather exit and trade the 30 minute with candle color than hold onto the trade.

Hopefully in the future I will code a MO advisor to answer all of your questions :wink:




That a candle not close against me: If I am not immediately right then some thing is immediately wrong.

" That a candle not close opposite to my entry direction: If I am trading the 30 minute long (via a 15m or lower TF) and the 30 minute closes bearish then I would rather exit and trade the 30 minute with candle color than hold onto the trade."


i misunderstood before---thanks

Hopefully in the future I will code a MO advisor to answer all of your questions :wink:[/quote]


i actually spit out some water when i read that :D

if i am askinig too many q's just tell me to close it :D


thanks again

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TheRumpledOne
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Postby TheRumpledOne » Wed Mar 04, 2009 3:40 am

"Hopefully in the future I will code a MO advisor to answer all of your questions"

Why didn't I think of that!?!?!?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Jan Viljoen
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Looking for and indicator

Postby Jan Viljoen » Wed Mar 04, 2009 5:04 pm

Hi All

I am looking for an indicator, (don't worry it is not that kind of indicator)

I am looking for something that will draw a line to connect the highs and lows of the previous three candles, but only for the last 3 candles I am not looking for a continuous channel



Thanks

Jan

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Postby TheRumpledOne » Wed Mar 04, 2009 5:17 pm

Image

Image

MightyOne, does that look "right"?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Re: Looking for and indicator

Postby TheRumpledOne » Wed Mar 04, 2009 5:19 pm

Jan Viljoen wrote:Hi All

I am looking for an indicator, (don't worry it is not that kind of indicator)

I am looking for something that will draw a line to connect the highs and lows of the previous three candles, but only for the last 3 candles I am not looking for a continuous channel



Thanks

Jan


Does that mean 3 separate lines H[4] to H[3], H[3] to H[2], and H[2] to H[1] ?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby Jan Viljoen » Wed Mar 04, 2009 6:12 pm

Hi Tro

Yes I want the line to go from the high of candle 1 to the high of candle 2 and the high of candle 3

Lets say the highs of the 3 candles are represented by dots I am looking for a line to connect dot 1,2 and 3

The same for the lows. I will give you the reason, visual observation if that line going from dot 1,2 and 3 are almost straight you go long at the high of the candle 3 and stop loss is the low of candle 1.

This has not been tested it is only a visual observation

Thanks
Jan

Ps about 3 hours ago on the 5min eur/usd chart there is an example of such a trade

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Postby MightyOne » Wed Mar 04, 2009 6:58 pm

TheRumpledOne wrote:Image

Image

MightyOne, does that look "right"?


Not all of them are zero lines as ZL's are more about momentum and held profits than breakouts, but if you pick the line that looks right to you then it could work.

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Postby MightyOne » Wed Mar 04, 2009 7:26 pm

Why trade iffy chart setups if you don't have to?

One of the things I was taught in an art class is that an artist looks twice and draws once.

Maybe that means that we should do twice as much thinking as trading :?:

Image

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TheRumpledOne
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Postby TheRumpledOne » Wed Mar 04, 2009 8:29 pm

MightyOne wrote:
TheRumpledOne wrote:Image

Image

MightyOne, does that look "right"?


Not all of them are zero lines as ZL's are more about momentum and held profits than breakouts, but if you pick the line that looks right to you then it could work.


OK... which ones are not ZLs??
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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es/pip
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Postby es/pip » Wed Mar 04, 2009 10:59 pm

here is a couple from me today

didn't have a bunch of larger trades---these two were nice


scalped off the shorter time frames into and away from larger zlines mostly

Image

Image

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