Never Lose Again

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zapzinig
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Postby zapzinig » Sat Mar 07, 2009 2:02 am

Why are these two daily charts with z lines for Eur/Jpy showing very different bar formations.

MO's chart has a very clear zline

Es/Pip has a different zline on the next days bar.

Why is MO's chart data very different from es/pip's?

Gary

es/pip wrote:just entered 1/4 position going to try and build one up off the e/j today

Image

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Re: I think I am going crazy

Postby razorboy » Sat Mar 07, 2009 2:19 am

In the last week, I have started really opening up my SL's (100 pips) and using the semifor plugin - I have put 75% on my account this past week - put on about 600 pips

The key is patience........... that is all i can say

MightyOne wrote:
Jan Viljoen wrote:I think I am totally losing it. Maybe just what I need to start trading again.

If some of the older hands would please spare me 5 min of their time to look at what I am seeing, saying and please tell me if I have lost it.

I lost a lot of money in my attempt at becoming a trader and haven't traded since November 2008. During these last couple of months I have been reading looking and seeing a lot in an attempt to...
1) Regain my confidence
2) Look for a system that will suit my trading personality.

One of the reasons why I lost a lot of money is that due to my work circumstance I can not monitor my computer all day and then I would miss or enter to late on signals.

So I have been looking for a system that I can trade when I am in front of my PC and not have to wait for a couple of hours for a setup to form and then to miss it due to work or other obligations .


Open a 15min chart, or any time frame for that matter.

If you see a white candle place an order to go long 1 pip above its high.

The opposite for short.

The only rules is not to trade against a strong trend (Subjective) and a white candle with a long wick and a black candle with a long shadow are not valid candles.

Move stop loss to break even asap.

The idea of this is to get a quick 10pips at a time.

please let me know that I am crazy

Ps only trade in market hours

Cheers

Jan


Lesson 1: Stops are for risking money not for breaking even so do not move them. Either take a profit or take a loss, but do not be the guy that gives some one a better price to enter.

This brings us to money management:

:shock: 1: If you wish to live then follow these steps:

1. Trade micro lots until you can make 1,000 pips in 200 trades.

2. Risk 1% until you double your account.


If you follow these 2 easy steps then it is nearly impossible to ever run out of money.

:shock: 2: Every person is willing to spend money to make more money, but few are willing to spend time to make more time; time and money go hand in hand.

"So I have been looking for a system that I can trade when I am in front of my PC and not have to wait for a couple of hours for a setup to form and then to miss it due to work or other obligations."

:shock: 3: Don't force a trade because you "need" one. If you only have an hour then wait 45 minutes for a trade and if you only have 15 minutes then...well clean the house or do some thing more productive.

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Postby razorboy » Sat Mar 07, 2009 2:23 am

quick question

can someone point me to the ATR plugin someone (i think TRO) posted to this forum - the one that calculates the range by pip value - I have the donational bundle - not sure if it was in there - couldnt find it
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

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Postby MightyOne » Sat Mar 07, 2009 3:17 am

deeforex wrote:
MightyOne wrote:
chip wrote:MO,
I've been looking back through this thread to try to understand just what your Zero Line concept is. Have you thought about distilling that concept down to a single post?


Sure...

X = body size considered to be non momentum
y = 2x
z = 3x
+ = body up
- = body down

+x, +y = candle in the direction of profit.

If +x, +y then -x, -z is needed to reverse.

If -x, -z then +x, +y to reverse.
If -x, -z, -x then +z to reverse.

+/-z always follows -/+x

Momentum pattern is as follows:

+x, +y, +x, +y, etc.

Reversing after +y is always -x, -y
Reversing after +x is always -y

you happy now? :roll:


CAUTION, CAUTION
do not read unless you are MightyOne

This might create more confusion because I am confused.

MightyOne:"[glow=red] If -x, -z then +x, +y to reverse.[/glow]"

Based upon your example, is it correct of me to translate this as

the momentum of -x & -z is 4 (1+3) ?
with that line of thinking then to reverse, the momentum of +x & +y is 3 (1+2)....which leads me to think, I'm not understanding this properly because a momentum of 3 does not zero out the -x&-z momentum of 4.

Are we to think of this momentum as the "spacial intellect" that you keep referring to? The body of bar Y is not necessarily twice the size of x but has closed the distance of 2x?

thanks for taking the time to write the above. Now I just have to decipher it. It does bring some clarity

dee :wink:


X is not momentum...

I will check my post for errors and see if I can hand draw a chart in MT4 to display what I am talking about.

"Reversing after +y is always -x, -y
Reversing after +x is always -y"

Should read:

Reversing after +y is always -x, -z
Reversing after +x is always -z
Last edited by MightyOne on Sat Mar 07, 2009 4:07 am, edited 1 time in total.

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Re: I think I am going crazy

Postby MightyOne » Sat Mar 07, 2009 3:20 am

razorboy wrote:In the last week, I have started really opening up my SL's (100 pips) and using the semifor plugin - I have put 75% on my account this past week - put on about 600 pips

The key is patience........... that is all i can say

MightyOne wrote:
Jan Viljoen wrote:I think I am totally losing it. Maybe just what I need to start trading again.

If some of the older hands would please spare me 5 min of their time to look at what I am seeing, saying and please tell me if I have lost it.

I lost a lot of money in my attempt at becoming a trader and haven't traded since November 2008. During these last couple of months I have been reading looking and seeing a lot in an attempt to...
1) Regain my confidence
2) Look for a system that will suit my trading personality.

One of the reasons why I lost a lot of money is that due to my work circumstance I can not monitor my computer all day and then I would miss or enter to late on signals.

So I have been looking for a system that I can trade when I am in front of my PC and not have to wait for a couple of hours for a setup to form and then to miss it due to work or other obligations .


Open a 15min chart, or any time frame for that matter.

If you see a white candle place an order to go long 1 pip above its high.

The opposite for short.

The only rules is not to trade against a strong trend (Subjective) and a white candle with a long wick and a black candle with a long shadow are not valid candles.

Move stop loss to break even asap.

The idea of this is to get a quick 10pips at a time.

please let me know that I am crazy

Ps only trade in market hours

Cheers

Jan


Lesson 1: Stops are for risking money not for breaking even so do not move them. Either take a profit or take a loss, but do not be the guy that gives some one a better price to enter.

This brings us to money management:

:shock: 1: If you wish to live then follow these steps:

1. Trade micro lots until you can make 1,000 pips in 200 trades.

2. Risk 1% until you double your account.


If you follow these 2 easy steps then it is nearly impossible to ever run out of money.

:shock: 2: Every person is willing to spend money to make more money, but few are willing to spend time to make more time; time and money go hand in hand.

"So I have been looking for a system that I can trade when I am in front of my PC and not have to wait for a couple of hours for a setup to form and then to miss it due to work or other obligations."

:shock: 3: Don't force a trade because you "need" one. If you only have an hour then wait 45 minutes for a trade and if you only have 15 minutes then...well clean the house or do some thing more productive.


So you are risking ~12.5% per trade?

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Postby TheRumpledOne » Sat Mar 07, 2009 4:52 am

razorboy wrote:quick question

can someone point me to the ATR plugin someone (i think TRO) posted to this forum - the one that calculates the range by pip value - I have the donational bundle - not sure if it was in there - couldnt find it


Post a chart showing what you want.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby MightyOne » Sat Mar 07, 2009 4:56 am

Image

All you should focus on in this pic are reversals and see the same thing on your charts or expect a continuation in the direction of former profit.
Last edited by MightyOne on Sat Mar 07, 2009 6:34 am, edited 4 times in total.

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Postby MightyOne » Sat Mar 07, 2009 5:15 am

It would be far more easy to create an indicator that attaches to say a 5m chart.
Say that X had a value of 10 so that y = 20 and z = 30.
From the start date the first close beyond 10 would draw X and a close in the same direction above 20 would draw y.
Y & Z would tell you to trade in one direction until you get a Y or Z in the other.
Last edited by MightyOne on Sat Mar 07, 2009 6:08 am, edited 1 time in total.

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Postby MightyOne » Sat Mar 07, 2009 6:05 am

1. Body closed in the direction of profit.

2. Wick in the direction of loss.

A. Body closed in the direction of profit.

B. Body is moving in the direction of profit.

Some times all you really need to know is GREEN = UP and RED = DOWN :wink:

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Postby MightyOne » Sat Mar 07, 2009 6:56 am

zapzinig wrote:Why are these two daily charts with z lines for Eur/Jpy showing very different bar formations.

MO's chart has a very clear zline

Es/Pip has a different zline on the next days bar.

Why is MO's chart data very different from es/pip's?

Gary

es/pip wrote:just entered 1/4 position going to try and build one up off the e/j today

Image


It could be 2 different time zones :?:

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