prochargedmopar wrote:I can SEE 1 thing.
After MO's last post and es/pips description to macro about his ZL placement being correct,
I know nothing of this style of trading!!!!!!!!!!
The last 3 month's of reading was a waste of my time.
I don't get it.
Double this, triple that, MoMo here, MoMo there. Held profit for this guy/zeroed out for that guy(me), ect.
Why can't somebody break it down into a simple post with some clear descriptions so that us noobs can actually see and be given something to use to make a pip or two.
I'm very frustrated as you can tell.
I want to trade, not just follow some system because that DOES NOT WORK.
Try to take a trade randomly off the DTB template, Your gonna get waylayed. I've tried it.
Take a random trade off the buyzone and the same thing will happen. YOUR account will be drained.
You've got to know what trades are good/high probability before ever taking some SIGNAL!!!
And what does this mean? YOU, yes YOU don't need no stinkin signal because you are a trader that knows what the Hell is going on in the first place.
Someone want to teach me how to be a trader??.........No "system" will be accepted either.
I WANT TO TRADE!
I am not sure why you cant see it
it has been broken down simply, many times
1.body in direction of profit
2.wick in direction of loss
what this basically means
a group traders buy--the market moves up and they hold their position--(because the bar closes up)===== body in direction of profit.
the pros take the market back down to their entry( bec they know that the buyers have their stops there) then the pros buy the pullback taking their stops--- which ==== wick in direction of loss
so what does that mean
the traders that bought and held onto their profit were zeroed out--- the pros stepped in when the long traders couldn't take it anymore and got out at b/e
what does this mean for you
a chance to trade off their emotions and take advantage of where their stops are
when i talk about momo i am referencing trading a m30-4hr chart and getting in on the m5 based on momentum coming out of my zl/mz
as far as me saying i would have placed my zlines in the same place as macro-- im not sure how you could disagree that the held profit is not being held from those marked zlines
edit-----------just bec i mark my zline where i do does not mean that is the end all zline----" A zline can be any line in the mighty zone"--MO-- i just mark mine where i perceive the held profit is being held from----but any line in the mighty zone would be correct
think about this and what it means
1 BODY IN DIRECTION OF PROFIT
2 WICK IN DIRECTION OF LOSS
that is the only way to explain it
look at the bars and how they have formed and rationalize what that means in term of what the traders did---- ie where they bought and where the held profit is from
like MO said maybe the zl stuff just isn't for you