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Who Am I ?
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Postby Who Am I ? » Fri Aug 07, 2009 2:55 pm

MO,

Thank you very much for such a magical trading wisdom.....
You are a TRADING ANGEL...

you are really showing this poor trader THE LIGHT!

-- WAI ?

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es/pip
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Postby es/pip » Fri Aug 07, 2009 3:04 pm

with ya

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

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Postby razorboy » Fri Aug 07, 2009 3:14 pm

or you can just figure out how to double your money with 25% win rate...........


MightyOne wrote:
monolisa wrote:Thanks, MO.

I wonder how the method could be put into practical use.

I can see how the pip value of angles is calcuated. However, how do we know the future angle value when the trend changes? The angle is usually confirmed later when the trend materialise and at that moment a number of bars has been passed.

I also notice you draw the upper left corner of the box at the 1st retracement of the trend. Is it correct?

Thanks.

Lis


The only thing that matters is that the angle connects the points of the box....
it really does not matter where you start drawing the box as you only wish to define the degrees so that the angles can be used on any scale.

The exact angles do not matter :lol: the proportions do.

There is a margin of error of 5* when drawing Major angles; these "errors" are known as sharp and flat angles.

35 & 25 degrees is considered to be a 30 degree angle.

You do not have to wait for a "trend" before the angles of ascent and decline are known.
The charts follow very predictable patterns which, when recognized, cause your risk to combust :P
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

http://thejoshkerbelproject.com/

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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



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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

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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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