Never Lose Again

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***FX-JEDI***
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Postby ***FX-JEDI*** » Fri Jul 10, 2009 11:23 am

Today's Trade.
I am working on something so went short a 150.50 target 150.00 GBP/JYP, a little late going short but any still profitable.
I got out a bit early I didn't like all them Tweezer/ Hammer candles at the 127 just above whole number 150.00, expected a pull back up to the broken support, now becoming resistance at 150.50
anyway got 27.63 pips was up 31 at one stage, I also have a 10 pips spread which doesn't help.... I think 150.00 will break...

Mighty One, I'm going to learn/read about your zline trading style, I've just been looking at a few post here & there. but not really studying it..
I need to go over thread & write some of your wisdom down.
thanks for your input..
BTW... I hate losing too.....
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***FX-JEDI***
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Postby ***FX-JEDI*** » Fri Jul 10, 2009 11:50 am

Thanks to TRO, this website & to all of you that post regularly, you knowledge has helped tremendously, for the guy that says he can't trade forex, I'm not sure how long you have been trying, but its taken me 5 years so far to get results like this, posted below all trades done with 0.1 of a lot, so that's actual pip capture there.
2946.25 pips with swap taken out since start of feb, only 1 loss of 0.7 of a pip, internet was a bit slow of getting me out....

Regards ***FX-JEDI***
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Patch
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Postby Patch » Fri Jul 10, 2009 1:36 pm

FX-JEDI

Thank you for hanging in there and for putting up you posts.

I count 47 trades!

Was it worth the struggle and hanging in there? Patch

Fxtraveller
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Postby Fxtraveller » Fri Jul 10, 2009 4:03 pm

since es/pip invited others to post charts....


I feel so much better trading without indicators now... just dynamic fibs to make it easy on the eye.

I believe I found MY ideal setups for reversals and trending trades...

I've been demo and paper trading this.... hadnt had a single loser yet... but more training to come....
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Postby Fxtraveller » Fri Jul 10, 2009 4:34 pm

My reversal setup in 4 steps:

(to upside)
1. New Low

----> Retrace

2. New (low) High.

---> bounce off

3. Higher Low (failure to make new Low, indication that price isnt going any further)

4. Breakout of (2) (recently made High) (marked by a H line)


Vice versa for to downside:

1. New High
---> retrace
2. New low
---> bounce off
3. Lower high (fail to make niw high)

4.Break out of (2)- enter

For a break out make sure there is point 1 and 2, and the breakout of 1 within a few bars, if it takes too long- it might be a false one and price wil start to range.
Charts used - M5, works just as well on any TF, price is price.
Some trades only give you a max of 20 pips, which is good enough for me... and hey, its a M5 TF ]]

I think that im STARTING to appreciate the importance of PA...

Before, only High/Low existed in my mind.... anyone's post containing such words as "lower highs" / "higher lows" would imiideatly turn to "BLAH BLAH BLAH" to me, could not be bothered to fathom these principles :D now the information finally starts sinking into my skull (it must've found where to leak through, lol)

Regards.

FxT.
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Patch
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Postby Patch » Fri Jul 10, 2009 5:20 pm

FX-JEDI

Wondering where I will find the chart setup you are using to trade Never Lose Again? Is there a template for it also? Thx,jb
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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Interesting..........

Postby razorboy » Fri Jul 10, 2009 7:23 pm

now this looks familiar.................
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http://thejoshkerbelproject.com/

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monolisa
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Postby monolisa » Fri Jul 10, 2009 11:49 pm

Hi Fxtraveller,

Great trade. Your method seems to work well in trending market. Given that GBPUSD M5 median range is close to 9 pips, your chance of getting 20 pips in 1-2 bars is quite good.

BTW your trade remind me of the mightyzone trade - profits zeroed out at the zline (retrace near lower high or higher low) and the trend continues.

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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Postby prochargedmopar » Sat Jul 11, 2009 3:52 am

Patch wrote:FX-JEDI

Wondering where I will find the chart setup you are using to trade Never Lose Again? Is there a template for it also? Thx,jb


I posted a template in the repaint this thread on tro's main page....I think.

Here is one version with lRC and trend meters.
http://kreslik.com/forums/viewtopic.php ... b83bb8f78a

Here is the basic version I like to use.
http://kreslik.com/forums/viewtopic.php ... b83bb8f78a

I'll make a killing with it when I decide to hold trades....gonna work on moving up stops to b/e so I can let trades run.....then move it up to the most recent low/high each time it makes a new level......Maybe this will take away my fear of being stopped out for a loss after being in profit....
We'll see sunday.
#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

Fxtraveller
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Postby Fxtraveller » Sat Jul 11, 2009 9:49 am

Hi Monolisa,

well, it depends what you call a trending market =) those M5 charts that I posted.... on H1 they were very choppy :))) 5 candles in a row bareyl making any new highs or lows, but volatile enough to trade them on a m5.

+ Im reading and reading and reading this thread about Zlines.... and there is something that beyond me....

Price moving up.... price reaches a Zline and ZLs the ... Sellers ....that Sold a breakout earlier ........and moved stops to B/E.

Once they are stopped out, there is no more selling pressure, so .... in my logic it should shoot through the ZL and not reverse........

or is there something that i misunderstand completely, since I do realize that an ex-sup becomes ex resistance.

Please comment.
Regards.
FxT.

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