es/pip wrote:razorboy wrote:i think this may leave you open to getting whipped around quite a bit. or as you mentioned before - the tail end of what could have been good tradeses/pip wrote:razorboy wrote:so if you were playing this situation, you would look for a long entry around the 10 mark, keeping an eye on how it travels up to 50. if it doesnt hit the fifty, you are then switching your bias from long to short
so past the first line you are temporarily biased long?es/pip wrote:razorboy wrote:but dont they both indicate that trend is going in the same direction?es/pip wrote:blubbb wrote:Is there ONE dynamic trendline or are there TWO? If there is only one, why do we use the smaller range of bars 1 and 2 at all? I mean, if the line gets pushed further by using the larger range, there won't be a change if you apply the other one.
Or is it one line for each range? Line A: Low + High - Low and Line B: Low + High - Low ?
the smaller is in play until the larger is touched and then the smaller is no longer in play
again this is how i understand this
if you have a line at 10 and 50 and price breaks the line at 10 it is currently long price now goes up to the line at 50 and pulls back under it----now price is short and the lower line is negated bec the new line was pushed higher
so how can they both be saying the same direction?
the only way is if price goes above the line at 50 and stays there---but even then the lower line no longer remains
if price hits the 10 line then that line would be in play(bias short below bias long above) the 50 line does not matter until it is hit---once hit then---------(bias short below bias long above) and the lower line no longer exists
disclaimer-----this may be totally wrong
i think it is correct
MO if my last explanations are incorrect let me know and i will delete them
yeah im with ya
but thats what MO was talking about as far as the time frames used
in that sell off the other day i was trading the 1hr and was in and out the whole way down and MO was trading the 4hr and was short the whole way.
i took a couple of trades off the hr last night and then that long of the 4hr today and held it for 90 pips or 6%
i am still not sure exactly how i am going to do things with this or if i am going to go back to the zlines----- with the zlines i was risking 4% with around a 20 pip stop so if i happen to get a big one it would be 12-20% on that one trade plus all the other little scalps----
this strategy is more for getting in a trade that is correct and holding on for the ride---as MO made 30%ish yesterday and i made 7% by getting in and out------------
or maybe i am missing something with what we are looking at here not sure yet
Maybe some how you guys missed the memo...
THIS IS NOT AN ENTRY STRATEGY!
And of course it is about holding for the ride; why else would you be expanding your SL?
It is for those who recognize that price moves a hundred to hundreds of pips every day in one direction or the other and
wish to make 10% or more a day with the least amount risk, time,
While it can work on small time frames it works best on time frames where the 100 bar ATR is at least 100 pips.
If you believe that you can consistently make 10% or more a day with almost no draw down then by all means stick to what you are doing.
It is just my own personal style to play the pennies for the million dollar jackpot.