MightyOne wrote:ES/PIP, Dragon, and I do not trade zero lines the same way.
Zero Lines do not signal trades, but if his entry method is to place an order on a zero line then the zero line is also his signal to enter.
Zero Lines are not a signal to enter, he just picked that method of entry to trade zero lines.
Small TF Charts:
Traders that trade small time frames generally do not hold onto profit or use stops worth targeting.
If I run them over it is because they just happened to be on the same road as a high TF trader.
You confuse the stops in the picture as being my own?
Azuremaster wrote:MightyOne wrote:Zero Lines are only for discretionary traders and that is why there are only about 5 or so traders on this forum that make money with them.
MightyOne wrote:They were meant to be analyzed on 4 hour or greater time frames!
If you want to use them on a 5m chart then go ahead and act a fool
Wow MightyOne, now I am totally confused. Looks like the fact that 90% of ZL charts I see in this thread are 5min and 15min is an illusion!MightyOne wrote: Zero Lines do not signal trades!
Their purpose is to determine direction and areas where there is a low chance of draw down.
I see that Es/pip enters off 5/15 min ZLs. But now you say that ZLs do not signal trades...MightyOne wrote:
IF YOU DO NOT UNDERSTAND THIS PICTURE THEN ZERO LINES ARE NOT FOR YOU:
I think I can understand the concept. I see that you combine 6-7 4hr bars into one. And the zero lines are located in the lower half of that combined bar. But I don't understand why there are 4 ZL. And 200 pips stops? This is something new. You always taught that SL should be less than 20 pips and therefore we trade off 5min chart but not 4hr.
Thanks for your answers MightyOne, I really appreciate it!
In the beginning i used it as a signal to get in. Now i only use it to trade the right direction. Nothing more.
I have switcht my trading to the H1 if this can satisfy me then i am going to do the same on the H4.
The last few weeks i am more relaxed as ever before. I can choose nice entry's make nice runs and reenter multiple times.