MO is NOT doing gann. Sorry to throw everyone off.
TRO, another request, could you please add the ability to allow user to place more than 1 spokes on the chart, like your Fibo Fan example. Thanks.
Never Lose Again
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- TheRumpledOne
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Do you know up from down, left from right?
In a world of supply and demand, price does not travel horizontally.
Up left is high speed ie 75* etc
Up right is normal market speed
You can see the problem people would have using horizontal lines as support and resistance levels.
If price looks supported then what you have is a profit opportunity if you can convince to the public the go long.
To do this the trading market is flooded with books and seminars on technical analysis that lead to an incorrect perception.
Never doubt the power of the man behind the curtain to manipulate.
In a world of supply and demand, price does not travel horizontally.
Up left is high speed ie 75* etc
Up right is normal market speed
You can see the problem people would have using horizontal lines as support and resistance levels.
If price looks supported then what you have is a profit opportunity if you can convince to the public the go long.
To do this the trading market is flooded with books and seminars on technical analysis that lead to an incorrect perception.
Never doubt the power of the man behind the curtain to manipulate.
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- testplate.tpl
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MightyOne wrote:If you cannot see then I will draw a less crowded picture.
So i gues i didn't wrote some rubbish. I knew the second candle was important but some charts from es/pip made me see it different.
After reading your posts many times i started checken my charts and i could clearly see where i made my mistakes and then i knew it.
Thanks MO
- prochargedmopar
- rank: 10000+ posts
- Posts: 12045
- Joined: Sat Dec 20, 2008 6:07 am
- Reputation: 1790
- Location: Granbury, TX
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- Contact:
dragon33,
I have been able to see and understand the "wick in direction of loss" for a while now.
After mulling over your post and a couple more of MightyOnes' posts I can now see the profit.
1.
I must use a larger time frame, ie 15m-30m
2.
I may have to wait for the 2nd or even 3rd candle after the 2x body candle before entering the wick.
3.
The 2x description was the eye opener. I now understand why Steve Nison was so excited about the Engulfing patterns that surounded 2 or more previous candle bodies. In his cd's he doesn't tell you as such but now I can see from his expressions why his manerisms were like that.
4.
Doji's, spinning tops, haramis and even dark cloud covers are not gonna cut it for taking a reversal trade in the future. They are truly a neutral signal.
Thankyou for helping to bring profit to my screen.
Simple yet very clear.
Scanned through all the currencies looking for a setup.
I picked up 21.4 pips at the open of TY session tonight in 10 min.
Done for the day.
MightyOne,
Your precise description in your most recent posts of what a z-line is in relation to the engulfing candle is what I've been waiting for. It was worth the wait!!!!!
Procharged
I have been able to see and understand the "wick in direction of loss" for a while now.
After mulling over your post and a couple more of MightyOnes' posts I can now see the profit.
1.
I must use a larger time frame, ie 15m-30m
2.
I may have to wait for the 2nd or even 3rd candle after the 2x body candle before entering the wick.
3.
The 2x description was the eye opener. I now understand why Steve Nison was so excited about the Engulfing patterns that surounded 2 or more previous candle bodies. In his cd's he doesn't tell you as such but now I can see from his expressions why his manerisms were like that.
4.
Doji's, spinning tops, haramis and even dark cloud covers are not gonna cut it for taking a reversal trade in the future. They are truly a neutral signal.
Thankyou for helping to bring profit to my screen.
Simple yet very clear.
Scanned through all the currencies looking for a setup.
I picked up 21.4 pips at the open of TY session tonight in 10 min.
Done for the day.
MightyOne,
Your precise description in your most recent posts of what a z-line is in relation to the engulfing candle is what I've been waiting for. It was worth the wait!!!!!
Procharged
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
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dragon33 wrote:MightyOne wrote:If you cannot see then I will draw a less crowded picture.
So i gues i didn't wrote some rubbish. I knew the second candle was important but some charts from es/pip made me see it different.
After reading your posts many times i started checken my charts and i could clearly see where i made my mistakes and then i knew it.
Thanks MO
i hope i didn't mess you up or anyone else with my charts
es/pip wrote:dragon33 wrote:MightyOne wrote:If you cannot see then I will draw a less crowded picture.
So i gues i didn't wrote some rubbish. I knew the second candle was important but some charts from es/pip made me see it different.
After reading your posts many times i started checken my charts and i could clearly see where i made my mistakes and then i knew it.
Thanks MO
i hope i didn't mess you up or anyone else with my charts
Your application of the methods may be a little different, but then again every ones application of the methods are a little different.
- prochargedmopar
- rank: 10000+ posts
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- Contact:
es,
Did you enter 3 times and exit all postitions at 1.4030?
Did you enter 3 times and exit all postitions at 1.4030?
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
prochargedmopar wrote:dragon33,
I have been able to see and understand the "wick in direction of loss" for a while now.
After mulling over your post and a couple more of MightyOnes' posts I can now see the profit.
1.
I must use a larger time frame, ie 15m-30m
2.
I may have to wait for the 2nd or even 3rd candle after the 2x body candle before entering the wick.
3.
The 2x description was the eye opener. I now understand why Steve Nison was so excited about the Engulfing patterns that surounded 2 or more previous candle bodies. In his cd's he doesn't tell you as such but now I can see from his expressions why his manerisms were like that.
4.
Doji's, spinning tops, haramis and even dark cloud covers are not gonna cut it for taking a reversal trade in the future. They are truly a neutral signal.
Thankyou for helping to bring profit to my screen.
Simple yet very clear.
Scanned through all the currencies looking for a setup.
I picked up 21.4 pips at the open of TY session tonight in 10 min.
Done for the day.
MightyOne,
Your precise description in your most recent posts of what a z-line is in relation to the engulfing candle is what I've been waiting for. It was worth the wait!!!!!
Procharged
Why quit after 21.4 pips?
Do you fear that it will turn into a losing day?
Surely you have more than 10m to trade...
Here is a strategy for you to consider:
EURUSD M15 (480) = 18.78
Divide 18.8 by 2 and add 1 pip for every 5 pips in 18.8 for a total of 12.4 pips risk.
EURUSD M60 (120) = 39.2
If your risk is based on the Hourly then your risk would be 26.6 pips.
With a 12.4 pip stop I scalp for 2/3 risk (8.3p) first.
Stage 1. $400 to make $266.64
Stage 2. $266.64 over 12.4 and grab as many pips as I can (8.3+).
No matter the gain I risk 2/3 of $266.64 next.
Stage 3. $177.74 over 12.4 and grab as many pips as I can (8.3+).
Now I am at the point I call the trading of the Eternal.
Final Act: 2 trades are then allocated half of $177.74 ($88.87) and
are given RIDICULOUS profit targets of no less than 15x risk per trade.
If you were risking 4% initially then these trades represent 0.8% for
at least a 24% return.
If I finally manage to lose both trades in the final act (or 1 loss on a stage) then it is back to scalping.
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