Never Lose Again

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monolisa
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Postby monolisa » Fri Aug 07, 2009 3:15 pm

MO,

I have a few question about the square in which you draw the angled lines.

How do you define a square? The unit of measurement of the height and width are not the same. One can only "visualise" to make a box to look like a square. Although you can certainly use the trendline by angle tool to make a proper square using 45* angle and a starting point.

Now when the scale is changed (zoom in/out or timeframe up/down) the "square" is deformed to a rectangle and the angles are also changed. Is that why it's called diamond of "perception"? That is, we perceive 45* on one scale but see it differently (ie not 45*) on another scale. However the diamond still function as intended on all scale.

The key question is how we use the diamond for trading. 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

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es/pip
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Postby es/pip » Fri Aug 07, 2009 3:20 pm

wasn't thrilled the way the h1 bar closed------ so i averaged into it

and

it was obvious that they were targeting the held profit on the 4hr

so i just rode it down with them



Image
Bend over and assume the position for another 4 years of hope and change.

Who Am I ?
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Postby Who Am I ? » Fri Aug 07, 2009 3:24 pm

es/pip,

Thank you very much for all your trade charts and notes on your thought process.
Now, I have homework for the weekend, marking plain charts with the trades you have been posting....

I am loving the "search for author" option in this forum!

Have a great weekend and enjoy your whiskey!

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monolisa
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Postby monolisa » Fri Aug 07, 2009 3:33 pm

Illustrating my points, I have constructed a square with a 45* angle using trendline by angle tool. I then add the other major angles (15,30,60,75) and put a normal trendline on top. At the end I remove all lines that are drawn using trendline by angle tool.

First picture shows a square in H1
Second picture shows a rectangle in H4 and the angles are, obviously, not the same but still applicable to what it was intended to do on H1.
Third picture shows a zoom out H1 chart. Again the square becomes a rectangle and the angles are all changed.

Image
Image
Image

Lis
Last edited by monolisa on Fri Aug 07, 2009 3:50 pm, 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

Who Am I ?
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Postby Who Am I ? » Fri Aug 07, 2009 3:38 pm

Lis,

Thanks for posting the MZ template...

When you get some time (timepass time!) can you kindly put it in words your thought process on identifying a trade direction/bias?

Which MZ TF you primarily base upon to derive trade bias?

I can understand it is mainly price action, but, still, I reckon you have some sort of preference! I am asking this bcoz, your trade entries look really BEAUTIFUL!
I am reading thru NLA thread repeatedly, and grasping the MZ concepts while putting it on the charts. and want to grasp the thought pattern of you successful MIGHTY CLUB traders, and then build upon the one that suits my style... working hard and thinking openly to join MIGHTY CLUB as soon as I can...

I am on a mission... Its a MIGHTY mission!

-- WAI ?

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Postby Who Am I ? » Fri Aug 07, 2009 3:53 pm

This is what I read last night about trendlines by angle in MQL forum:

-----

Trendline by angle is usable on a squared chart only. It is a "visual" angle tied to the monitor, not the chart.

A 45 degree Trendline by Angle is a visual 45 degree line on your display. zoom in zoom out or squeeze the
vertical price scale, the line stays put at a 45 degree visual angle.

Therefore, it has no relation to time or price, unless you happen to know the ratio of pips to time you have on
the chart.

The only "known" setup is 1:1, and that is useless for higher timeframes.

For trading purposes, an angle needs to be defined in terms of price and time, thus sticking it to the chart. In
that scenario, a 45 degree line is a slope of 1 unit of price change in 1 uint of time change, with units defined
by your imagination or application.


http://forum.mql4.com/8889

---

monolisa wrote:Illustrating my points, I have constructed a square using trendline by angle tool. I then add the other major angles (15,30,60,75) and put a normal trendline on top. At the end I remove all lines that are drawn using trendline by angle tool.

First picture shows a square in H1
Second picture shows a rectangle in H4 and the angles are, obviously, not the same but still applicable to what it was intended to do on H1.
Third picture shows a zoom out H1 chart. Again the square becomes a rectangle and the angles are all changed.

Image
Image
Image

Lis
http://forum.mql4.com/8889

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es/pip
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Postby es/pip » Fri Aug 07, 2009 4:05 pm

Who Am I ? wrote:es/pip,

Thank you very much for all your trade charts and notes on your thought process.
Now, I have homework for the weekend, marking plain charts with the trades you have been posting....

I am loving the "search for author" option in this forum!

Have a great weekend and enjoy your whiskey!


just make sure u focus on MO's posts and not mine. I do this a little different than he does.

I learned all of it from his posts.
Bend over and assume the position for another 4 years of hope and change.

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monolisa
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Postby monolisa » Fri Aug 07, 2009 4:32 pm

Playing around with trendlines and angles. Try to understand MO 202. I think I have failed :(

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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MightyOne
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Postby MightyOne » Fri Aug 07, 2009 5:50 pm

monolisa wrote:Playing around with trendlines and angles. Try to understand MO 202. I think I have failed :(

Image

Lis


The TL by angle tool is constantly changing its own values even when you do not move the chart.
Angles are constructed using a trend line as they adjust to changing scales and stay at the location that you placed them.

Use the perfect square method to construct the angles.

Yes, the angles will change and the square will become a rectangle...

Just learn to draw the thing for now :lol:

The squares drawn side by side are for getting the down angles and have nothing to do with prediction so draw the boxes off to the side some where.

You will be selecting line lines and holding CTRL to copy and drag the lines onto the chart and then using SHIFT to extend or shorten the lines.

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cfabian
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Postby cfabian » Fri Aug 07, 2009 6:15 pm

Excellent Dragon, excellent....

A simple question here.... what stopped you from entering short 1 or 2 pink candles before the one you are signaling?

I was aiming for that same trade, but entered 2 pink candles before you (the one with more momentum), was in profit about +20 but price came back and got stopped out on that long wick on the following blue candle.

It will be interesting your opinion on this particular point (just don't tell me "because I was sleeping" LOL).

Cheers



dragon33 wrote:Here is the foto how i managed to gain a tremendos income just by waiting a few days.

Image

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