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TheRumpledOne
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Postby TheRumpledOne » Sat Jul 25, 2009 11:39 pm

"One more pull from the book: Lehrer tells about this incredible experiment. Scientists put rats in a T-shaped maze and put food at one of the top corners of the T. They put the food on the left side 60 percent of the time and food on the right side 40 percent of the time. What they found is that once the rats realized that the food was on the left more often, they ALWAYS went left, figuring in their own rat minds that more often than not, they would get food.

But when they did a similar experiment with Yale undergraduates ? I'm not sure what they use as a reward for Yale undergraduates ? barbecued Fritos? ? they found something else. The students also came to realize that the reward was on the left most of the time, but they tried to figure out the pattern. There WAS no pattern, but their brains simply could accept that and so instead of going left and simply getting the reward 60 percent of the time, they tried to outsmart the system. And so they only ended up with the reward 52% of the time. As Lehrer says ? outsmarted by rats."

THINK BUY ZONE
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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zapzinig
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Postby zapzinig » Sun Jul 26, 2009 12:02 am

cfabian wrote:
zapzinig wrote:My trades for today 54 pips.

I had a full stop today. Could have been avoided by checking H4. I made this same mistake 2 weeks ago. (entering on H1 before checking H4)

When I review the H1 chart from history, I base my trades off just the H1. I need to break this habit and in real-time remember to check higher time frames!

--zz

Image

Image


Zap,

According to my understanding of your trading, the attached image is what "needed to be done".


Thanks

Image


Some questions here:

1- When you mention "if price action is right", what exactly yo refer to?

I watch price action as it approaches a zline. It usually slows down 5 pips or so before hitting it, it goes up and down and finally hits the zline, some times it pauses and bounces away immediately. I want to see price hold the line and not go thru with any momentum.


You hold your trade until it starts to go in your favor? Some momentum on lower TF? Or what you wait for or expect?
On a good entry it usually is in my favor immediately. If it is not, and near the end of the bar time wise, I am looking for a better price to exit. I expect it to go in my favor or else I would not have entered where I do.



2- This contradicts previous question, but you always enter with limit orders right at the ZL spot? See a ZL and place your limit order accordinlgy some candles in advance?
Once price is within 10 pips of a zl I will have my limit order ready to enter. I want to see th price action in that area first berofe I just throw out an order.


3- If you do entry just with limit orders, was that the reason you didn't short at 1.6540 (10 pips below upper ZL, which would have be good for 150 pips)? It never reached the ZL I had drawn at 1.6550 , I really wait for the limit order to be hit.

4- Last trade why you exit at +57, wouldn't the target be 1.6515? Downward bias on the day and previous ZL 1.6450 act as S/R when broken. Price action lost momo just above 1.6450 so I exited

5- When you disregard or "dispose off" a ZL? When wicked once, or when a closed body passes thru it and "cuts it? When a body passes through it.

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Postby MightyOne » Sun Jul 26, 2009 6:03 am

What do you think about this?

You have until the end of the day to be right :shock:
If you cannot beat that then there is no hope for you ;)

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Postby MightyOne » Sun Jul 26, 2009 6:48 am

cfabian wrote:Check this out...
While studying some charts, I saw the inconsistency between Zap's charts and mine. He uses FXDD and I use Interbank.

His last trade, on H4 it clearly shows a ZL which was his entry point, and would have been an exit point from previous trade. I could see that in my H1 chart, but not on H4.

Now, the point is, in with Intebank you may consider 1.6481 area an entry/exit point, but you can clearly see on FXDD that that zone was already used.

This is only to show the importance of flipping between timeframes. If trading H1, at least go see H4 and 30M to see what's around. At least that's my observation.

Have a great weekend!!!!!

FXDD screenshot
Image

Interbank screenshot
Image


This is just the way I do things!

If you do things differently then you are not "wrong"

I start with a 1 hour chart and create 2 hour bars with Blubbb's Custom Candle indi.
I pull the back vertical to either side of the other vertical line to see which picture has more flow (it is opinion so don't ask).

When I am satisfied I will move the back line one candle into the past creating a 3 hour candle.

I will then check even higher TF momentum by pulling the back line to the middle of the custom candle's body creating a 5 hour bar.

I will then capture the prev. candle to create a 10 hour bar and then it is back to the 2-5 hour time frame.

From here you can do your self a favor and create 10 hour bars with a period converter and then start combining those as you did the hourly bars.

So you will have a 1, 10, & 100 hour chart which should be all you need when using Blubbb's custom candle indi.

I like to set the fibo tool to 1 with %$ in the description for horizontal lines with price shown above the line.

Mark off significant areas and the drop to small TF charts.
It is nice to write down the prices on note paper with a description of your possible actions (depending on the magnitude of the TF) should price reach that area.

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MightyOne
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Postby MightyOne » Sun Jul 26, 2009 7:29 am

I delete indicators from my folder every week!

Honest... :(


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monolisa
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Postby monolisa » Sun Jul 26, 2009 9:16 am

Way to go, MO! Hehehe...

Wouldn't you be mindful of how TRO feels when you delete his indis?

Lis
Last edited by monolisa on Sun Jul 26, 2009 11:32 am, edited 1 time in total.
"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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MightyOne
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Postby MightyOne » Sun Jul 26, 2009 9:33 am

monolisa wrote:Way to go, MO! Hehehe...

Wouldn't you (be) mindful of how TRO feels when you delete his indis?

Lis


I have all the donation indicators saved online.

If I don't use something in 3 months I will throw it away even if it is a toaster.

If I know that I am not going to use some thing anytime soon then it automatically gets thrown away.

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TheRumpledOne
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Postby TheRumpledOne » Sun Jul 26, 2009 1:45 pm

Doesn't hurt my feelings if someone doesn't want/use my indicators.
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.

Tristalibur
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What the heck

Postby Tristalibur » Sun Jul 26, 2009 3:19 pm

Hello,
First of all this is all new too me(but i'm a fast learning student).
Now what gets me confused is :why are there over a hundred systems(automatic or not)?
And when there is a good system,why do people always change??
Is it because of greed?
Is it because the system failed to work??
I don't get the picture.
I personally tought that all of you guys are millionaire by now??
Look for me it's all new,traded some otcbb and pinks for awhile and since 3 weeks i have discoverd Forex.
I'm at home now with some kind of a disease so i have time to study alot(10h a day at least),did some demo trading and till now 7 trades in a row are winners,thx too all the systems i found on the internet.
But i know i'm still in demo mode and have a long way to go till i found the system that i know by the head.
For the moment i'm sticking with Tro's method mixed with some MMlines and Stoch osc.Cause i'm hoping of draining a bank in the future.

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Patch
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Postby Patch » Sun Jul 26, 2009 3:43 pm

Welcome Tristalibur

You observe then ask, "Now what gets me confused is :why are there over a hundred systems(automatic or not)?
And when there is a good system,why do people always change??"

TRO might say people like to complicate things, someone else, someone has another idea, to make it a little bit better. MO says don't get stuck on a system and stop thinking and growing. I think people are people, not always logical or rational.

Get well fast. While using this time to learn and grow your trading muscles.

Patch
In VA
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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