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MightyOne
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Postby MightyOne » Sat Jul 04, 2009 9:43 pm

The question was whether or not it is possible to trade the momo bar (event) and not get burnt.

If you read a few posts back where I described the actions traders should take if they want to be more than mediocre then you would know that we are waiting for MOVEMENT ie MOMENTUM.

So if you are waiting for momentum and momentum is defined by a CLOSED body then how do you trade the soon to be momentum candle?

1. LUCK
2. Momentum of a smaller time frame and holding until the longer term close.

What usually happens after momentum?

Traders are sitting with profit.

What usually happens when traders are sitting with a profit?

Do you really need to know anything else?

Position in the longer term picture would be nice!

Can you trade chart formations, breakouts, congestion, and trends?

Of course you can...

But that is not what I am talking about here.

To recap:

1. I am a postmomentum trader
2. postmomentum traders wait for movement as a sign of both activity and held profits.
3. We can trade in either direction AFTER movement
4. Our only tools are movement, support, resistance, & retracement.

PS: If you are talented enough to trade without market movement then by all means ;)



prochargedmopar wrote:
MightyOne wrote: So is it possible to trade the event and not get burnt?

Thanks for your help.

Lis


A short term trade would have to turn into a larger move and longer term trade.

Retreat prior to a correction and then enter in the previous direction.

Trading is a delicate balance between short term momentum and long term position.


TRO's said it before.

#1New high/low (breakout)
#2Reversal from (correction)
#3Consolidaton (my addition)
#4Return to New high/low (main trend)

Is there anything else a market can do? reallly?
I think there are tallented individuals that trade them ALL

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PTG
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Postby PTG » Sat Jul 04, 2009 10:26 pm

All you need is the desire to make beautiful things happen on canvas.
Welcome to the joy of painting :shock: :D

Download Bob Ross paintings - erm - sorry, got that mixed up :shock:

Download Joe Ross material here: CLICK CLICK CLICK

maciekkov
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Postby maciekkov » Sat Jul 04, 2009 11:43 pm

TheRumpledOne wrote:Why can't we see what price is doing?

Image

Price is either moving up, moving down or not moving at all.

What is wrong with our eyes that we can't see what price is doing?

Image

It's so simple, price is either moving or standing still.

Image

Why do we need colors to know which way price is moving?

Image

Does adding a line really make it easier to see what price is doing?

Image

Well, if adding one line makes it easier then adding more lines should make it even easier, right?

Image

Why can't our eyes see the "trend"?

Image

Maybe adding another chart will help us see...

Image

Naturally, if adding another chart makes it easier, we should add more.

Image

If only someone would tell us the "magic" numbers to use...

Image

Price either climbs up or down a "stair".

Image

You mean to tell me I can think of price going up and down stairs?

IT CAN'T BE THAT SIMPLE!!


Tro but how we can know how many steps have this stairs?i see how price move up or down i see wicks candle its mean false move and this is losers we should playing on body candel then we will be in profit,but i dont see what price is doing ,if you see that why you dont tell this for us .you made so many indactors why??if it is so simple we dont need any idactors just tell what price is doing,price bounced between lines 00 25 75 i now that because i see that but when i read your post COULD YOU SEE THAT or open your eye i dont get it.i know all indactors like OS MACD MA and more they are lagging i dont use that i use only this horizontal lines because price move between horizontal lines but somtimes price cross 3 lines that was 75 pips and i dont know when price will be doing so big move i should hold but i close when i have 25 pips or smaller.i still try realy but i cant see where price move now i still thinking i have only lucky in this trade:(

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TheRumpledOne
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Postby TheRumpledOne » Sun Jul 05, 2009 12:56 am

You can't know AHEAD OF TIME.

I code indicators because I can. I see things and I code them. I get an idea, I code it. I code to learn others' systems.

You are correct. You were lucky. Smile.
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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inzider
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Postby inzider » Sun Jul 05, 2009 2:13 am

In relation to all that, may i suggest to look at:

Harmonic trading ( that Zl story make me think ALOT of Gartley pattern/ab=cd) and
VSA trading ( volume can help alot to spot momentum and post momentum move...

I'm also looking at Ralph Vince work on Money mangement based on the kelly formula... Optimal F and Math epexctation.

Worth a look i think.

Thx for mister Ross reference!

Food for tough....
WB: "Risk comes from not knowing what you're doing."

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MightyOne
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Postby MightyOne » Sun Jul 05, 2009 2:27 am

The first 10 years of live trading are the most trying

After 2 years you think you know what you are doing

After 4 years you begin to know what you are doing

After 8 years you laugh at what you were doing

I can't wait for my 16th year ;)

maciekkov wrote:
TheRumpledOne wrote:Why can't we see what price is doing?

Image

Price is either moving up, moving down or not moving at all.

What is wrong with our eyes that we can't see what price is doing?

Image

It's so simple, price is either moving or standing still.

Image

Why do we need colors to know which way price is moving?

Image

Does adding a line really make it easier to see what price is doing?

Image

Well, if adding one line makes it easier then adding more lines should make it even easier, right?

Image

Why can't our eyes see the "trend"?

Image

Maybe adding another chart will help us see...

Image

Naturally, if adding another chart makes it easier, we should add more.

Image

If only someone would tell us the "magic" numbers to use...

Image

Price either climbs up or down a "stair".

Image

You mean to tell me I can think of price going up and down stairs?

IT CAN'T BE THAT SIMPLE!!


Tro but how we can know how many steps have this stairs?i see how price move up or down i see wicks candle its mean false move and this is losers we should playing on body candel then we will be in profit,but i dont see what price is doing ,if you see that why you dont tell this for us .you made so many indactors why??if it is so simple we dont need any idactors just tell what price is doing,price bounced between lines 00 25 75 i now that because i see that but when i read your post COULD YOU SEE THAT or open your eye i dont get it.i know all indactors like OS MACD MA and more they are lagging i dont use that i use only this horizontal lines because price move between horizontal lines but somtimes price cross 3 lines that was 75 pips and i dont know when price will be doing so big move i should hold but i close when i have 25 pips or smaller.i still try realy but i cant see where price move now i still thinking i have only lucky in this trade:(

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aVi
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Postby aVi » Sun Jul 05, 2009 4:50 am

PTG wrote:All you need is the desire to make beautiful things happen on canvas.
Welcome to the joy of painting :shock: :D

Download Bob Ross paintings - erm - sorry, got that mixed up :shock:

Download Joe Ross material here: CLICK CLICK CLICK


You're too kind. 8)
Wake up Mr. Green...

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monolisa
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Postby monolisa » Sun Jul 05, 2009 7:59 am

Hi MO,

So if we trade the event, then we could enter a position when there's a breakout (momentum) and exit/re-enter based on the price action (correction/real move) of higher TF chart? Also, what do you mean by "long term position"?

On the other hand, if we trade like you (postmomentum trader) then we can enter either at the beginning of the correction or the real move, or both. In a nut shell, movement/momo gives you the signal, and using support and resistance (defined by the mighty zone and highest high/lowest low of the momentum) you are able to identiy the correction and the real move (both are retracements).

Thanks.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

frang0nve
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Food for thought

Postby frang0nve » Sun Jul 05, 2009 3:12 pm

Found in one of the oanda forums:

http://www2.oanda.com/cgi-bin/msgboard/ultimatebb.cgi?ubb=get_topic;f=17;t=004620;p=2#000029


Pescador wrote:
There are 3 (and probably many more that I do not know) profitable strategies in this market I know of:

1. Scalping with high leverage and DISCIPLINED mental stops. You will win big IF YOU LEARN HOW TO LOSE.
If you have the detachment of a Buddha you will succeed and have fun like him:
http://www.amazon.com/Divine-Madman-Sub ... 74&sr=11-1

2. Hedging with moderate leverage. In contrast to the common TP/SL strategies you will have
the freedom to take profit or take loss in an intelligent way, WHENEVER IT FITS YOUR STRATEGY.
You will need the flexibility of a chameleon with this strategy.
If you have a synthetic hedging triangle, you have at least 6 directions you can trade all the time.
No hurry, no stress, no desperation means less mistakes. It has been explained many times in
these forums, just search for it. Read Weej's posts, they reveal a lot of it. The rest is just trying it out.

3. Long term investing with 1:1 or less leverage. With the patience of a saint, you will gain
MOST of your trades with time. Just wait.

But as it has been many times explained on Oanda forums,
1. scalping can never work. It leads to fast margin calls all the time.
2. hedging never works. It bleeds you out slowly due to too much burden of negative
interest, too much payed spreads/commissions and too much margin tied up.
3. long term investing does not work due to too little leverage and too little gain.

SO DO NOT TRY ANY OF THESE!!!!
YOU ARE GOOD THE WAY YOU ARE!!!

As scalpers, we have fun to take your money.
As hedgers we will take your money when we see it fit. No hurry, no stress, no desperation.
As long time investors we will take your money ANYWAY in the end.

SO PLEASE, STAY THE WAY YOU ARE.

And the best of it: in the end you will blame Oanda, not us....
AND OF COURSE NOT YOURSELF

PS.: If you decide trying these strategies, in spite all these warnings, please do try them in 1 account all together at the same time.
It makes our work much easier.


I find it interesting.

Francisco

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monolisa
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Postby monolisa » Mon Jul 06, 2009 8:20 am

A combination of Mighty Zone and Horizontal lines trade. 200++ pips up for grab.

No Squiggly lines, pure PA!!

Image

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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