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aliassmith
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Postby aliassmith » Sat Aug 15, 2009 2:32 pm

On the weekend I like to use a trade simulator to go over the H1 charts for the week. On the usd/jpy H1 for aug 10th week I managed to get 34% on 3% risk. I believe I'll be watching usd/jpy, gbp/usd/ eur/usd, and eur/jpy. Of course leverage will be a limiting factor when trying to trade 4 pairs. I'll only be able to have one to two positions going at the same time.

I guess that is not a big problem, I can live with 30% + a week :D since I only need half of sexteentrillion dollars.

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brettnchrism
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Postby brettnchrism » Sat Aug 15, 2009 2:45 pm

aliassmith wrote:On the weekend I like to use a trade simulator to go over the H1 charts for the week. On the usd/jpy H1 for aug 10th week I managed to get 34% on 3% risk. I believe I'll be watching usd/jpy, gbp/usd/ eur/usd, and eur/jpy. Of course leverage will be a limiting factor when trying to trade 4 pairs. I'll only be able to have one to two positions going at the same time.

I guess that is not a big problem, I can live with 30% + a week :D since I only need half of sexteentrillion dollars.
Hey alias I am just starting to just trade z lines maybe you could post a chart so I can see what you are seeing also I am always trying to learn to improve. I say 30 percent is pretty darn good Thanks. Brett

aliassmith
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Postby aliassmith » Sat Aug 15, 2009 3:09 pm

brettnchrism wrote:
aliassmith wrote:On the weekend I like to use a trade simulator to go over the H1 charts for the week. On the usd/jpy H1 for aug 10th week I managed to get 34% on 3% risk. I believe I'll be watching usd/jpy, gbp/usd/ eur/usd, and eur/jpy. Of course leverage will be a limiting factor when trying to trade 4 pairs. I'll only be able to have one to two positions going at the same time.

I guess that is not a big problem, I can live with 30% + a week :D since I only need half of sexteentrillion dollars.
Hey alias I am just starting to just trade z lines maybe you could post a chart so I can see what you are seeing also I am always trying to learn to improve. I say 30 percent is pretty darn good Thanks. Brett


Hi Brett,

Let me start by saying in no way am I a pro at the zeroline stuff. I have reviewed a lot of information from Mightyone, es/pips, dragon33, and Zapzinig. I didn't SEE the multitimeframe stuff the most of the guys did, but what Zap was doing really jumped out at me.

Anyway here is my chart showing two trades. The first position I expected to go long with the momo candle I let my position build, but It didn't take off so I bailed out for about .5% return.

The second position I expected to short. Price broke short and pulled back to a ZL so I placed 3% risk on a small stoploss and rode it down. I thought it was having issues going down to my next ZL so I bailed for 12.5% return. No point being greedy and lossing it all.

I lost the chart from the beginning of the week, the trade simulators can be a bit cumbersome.
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Last edited by aliassmith on Sat Aug 15, 2009 3:17 pm, edited 2 times in total.

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brettnchrism
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Postby brettnchrism » Sat Aug 15, 2009 3:10 pm

Ok I am waiting for my ah ha moment here. My first one was seeing how traders get zero'd out and I completely see that all over my charts with the help of blubb's z line indicator.

Now ES said (if this trade/area holds where is the next group of traders sitting with held profits) Ok I see on the charts I posted that GJ just zero'd out profit holders in the 35 area and now made a new momo up on the hourly along with making a double bottom. Price is headed for the 25 zl which is a H4 H1 target. This is where I loose it. How can I tell if after the 25 zl gets hit that price will not continue up to the short holders or going to stop at the 25 area and continue down to the long holders. I did look at the H4 and there is a momo down bar so what I would say since we have a hourly momo up into a down h4 momo a long would not be advised. Anyway this is the last part of my puzzle how to determine directon after a zl has beeen hit. I posted GJ chart H4 and H1 for an example.
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brettnchrism
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Postby brettnchrism » Sat Aug 15, 2009 3:16 pm

And the same GJ H1 chart
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aliassmith
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Postby aliassmith » Sat Aug 15, 2009 3:29 pm

brettnchrism wrote:And the same GJ H1 chart


I believe when price is approaching a ZL we should be looking for a reversal trade. I look at Zl as suppy and demand areas preferably trading with momo leaving the ZL. The key is getting in with a small stoploss and having room to run to the next ZL to make profit of 2 or more times what you risk, I prefer 3 times. For every position I win 9% I can loss 3 times for break even so a 50/50 win ratio would make you a killing.

Not taking a full 3% loss when $hit happens is also helpful.

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monolisa
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Postby monolisa » Sat Aug 15, 2009 3:47 pm

Looking at MZ from a different point of view. I can see a general pattern here (how does price reacts in the MZ?)

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

aliassmith
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Postby aliassmith » Sat Aug 15, 2009 5:03 pm

monolisa wrote:Looking at MZ from a different point of view. I can see a general pattern here (how does price reacts in the MZ?)

Image

Lis


In a very general way I see price "bouncing" between ZL's

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cfabian
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Postby cfabian » Sat Aug 15, 2009 6:47 pm

I'm having 30 pip mental stop. Probably it will be better to actually set a stop loss with the broker, as sometimes you can't close at your price, or simply are trapped in the belief price will turn in your favor and do not click the close button.

I tend not to look 5M. I'm more focused on how the candles in my trade's TF looks like.




es/pip wrote:
cfabian wrote:How you manage your stops/losses?

What´s your hard stop on all cases?

I didn't take that trade for same reason... specially as I'm having hard time to manage my stops and losses.


es/pip wrote: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



right now hard stop is 20 pips

when a 5 min bar closes against me i do 1 of the following

1. exit then
2. try and get out at b/e
3. make a judgment call on how the 5 min bars are looking whether to stay in or not. if there is no 5 min momo and it closes against me sometimes i will stay in.

it is different every time

this is 1 of the reasons that zl/ mz is not a system or a method-------- it has some discretionary elements to it


what are u using for your hard stop?

are you watching the 5 min at all?

remember---------- zl/mz is not an entry trigger--- you dont just take it bec it is there

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MightyOne
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Postby MightyOne » Sat Aug 15, 2009 6:50 pm


The key is to know:

1. where you are in the grand picture.

Image

2. where price is moving in the multiple bar time frame.

3. where price is moving in the base time frame.

4. how you are going to manage your trade from point A to point B of the larger picture on a small time frame chart.
:shock:

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