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prochargedmopar
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Postby prochargedmopar » Sun Aug 16, 2009 5:37 am

es/pip wrote:
brettnchrism wrote: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.


"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 don't know--- you cant know--- no one knows (except maybe MO)-----. if someone figures that out please let me know. All i know is the market lives to zero out other traders, it moves to and from each area and sometimes the area holds and sometimes it does not.

you have to think about what all the other traders did and are thinking about doing. and then trade off of their emotions. it is all about held profit and momentum.

so (keep in mind this is friday afternoon)

this what i would be looking at and thinking-- i don't trade this pair but this is what i would think when i look at this chart

in your 4 hr chart example if i saw the double bottom and notice the momo slowing into it.
Image

so if i was thinking of trading long i would dial down and look for a reason to trade long
Image
Image
if i was only referencing the h4 as far as held profit i would be targeting the magenta line. when price gets up there i would take my profit and then look inside and see whats happening to see if i am going to try and trade short back down to the yellow line.

if the PA and momo do not show that the magneta line is going to hold the price and we have momo up thru that area. Then i would be looking to get back in long( based on momo) and trade up to the next area of held profit--- which would be the red line.
Image


I am not sure i can explain what i do---- hell i am not sure i even know what i am doing when i am doing it---------- i just look at where we are where we came from and where we are going next---based on held profit------- and then trade to and from those areas based on momo.

momo shows the way

held profit is the destination


Excellent Post es/pip,
Very thorough.
#1BODY in direction of profit #2INCREASE lot size Obsessively
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Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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MightyOne
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Postby MightyOne » Sun Aug 16, 2009 7:24 am

"i don't know--- you cant know--- no one knows (except maybe MO)" -ES/PIP

You could say that my trading is based on faith...

Faith is being certain of that which you hope for.

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Postby aliassmith » Sun Aug 16, 2009 2:59 pm

Had some time to use vhands to simulate GBP/USD for Aug 10th to 14th. It was a rough one for me. I did manage to get 9% return with toooo many mistakes. Need to practice more of course and be more willing to let the losers go.

So with USD/JPY 34% and GBP/USD 9% not a bad overall return for the week. I don't think I'll have time to simulate EUR/USD and EUR/JPY. I really can't trade all of these pairs simultaneously because of margin limitations. My live results will most likely be a mix of the four pairs.

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Postby brettnchrism » Sun Aug 16, 2009 5:18 pm

aliassmith wrote:Had some time to use vhands to simulate GBP/USD for Aug 10th to 14th. It was a rough one for me. I did manage to get 9% return with toooo many mistakes. Need to practice more of course and be more willing to let the losers go.

So with USD/JPY 34% and GBP/USD 9% not a bad overall return for the week. I don't think I'll have time to simulate EUR/USD and EUR/JPY. I really can't trade all of these pairs simultaneously because of margin limitations. My live results will most likely be a mix of the four pairs.
Well 9 percent i think is good results. I have found the usd pairs this month to be tough to trade at least for me EJ has given more consistant results. I try to stick to one pair and EJ gives me enough pips and I have alot less stress from paging back and fourth. Of course if I had about four monitors that would help. LOL

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Postby brettnchrism » Sun Aug 16, 2009 5:30 pm

Hey espip thanks for the detail reply. Your explination furthers my understanding. I just had GJ up I dont trade that pair ethier just saw that and it referenced my questions. I only trade ej and gu. And recently Im sticking to just ej until i can get my eye and mind to see the trades forming. I sit infront of this computer 15 hours a day try to grasp it. Slowly but surely im getting it down. I guess I won't be able to tell if price will stop at a z line and reverse I will just follow the momentum and look for targets. Thanks for the help.

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Postby prochargedmopar » Sun Aug 16, 2009 8:21 pm

brettnchrism wrote:Hey espip thanks for the detail reply. Your explination furthers my understanding. I just had GJ up I dont trade that pair ethier just saw that and it referenced my questions. I only trade ej and gu. And recently Im sticking to just ej until i can get my eye and mind to see the trades forming. I sit infront of this computer 15 hours a day try to grasp it. Slowly but surely im getting it down. I guess I won't be able to tell if price will stop at a z line and reverse I will just follow the momentum and look for targets. Thanks for the help.


Brett,
I think you'll notice that even if price passes through a previous z-line area that it will consolidate on the smaller time frames for a bit.....if you start to see small real bodies on the time frame your trading (H1's) you can then be looking for a momo to show reversal before taking the leap. I see zap will sometimes just take the reversal trade at the line and I'm asuming that he is looking inside the h1 candles to get verification of momo to get in.
Hmmmmm
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Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby brettnchrism » Sun Aug 16, 2009 10:45 pm

I am interested in seeing zapzing's charts if anyone happens to know what page they may be on?

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Postby zapzinig » Sun Aug 16, 2009 11:58 pm

Sorry I have not been trading or posting any charts the last 10 days, our family has expanded by one!

We got a call asking if we would like to adopt a 6 month old girl, a sister to our 17 month old that we are in process of adoption with. We needed to decide that day. No Pressure.

We said yes, so I am taking about a month off until we can get the baby in a routine and some order again.

--zz

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es/pip
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Postby es/pip » Mon Aug 17, 2009 1:28 am

zapzinig wrote:Sorry I have not been trading or posting any charts the last 10 days, our family has expanded by one!

We got a call asking if we would like to adopt a 6 month old girl, a sister to our 17 month old that we are in process of adoption with. We needed to decide that day. No Pressure.

We said yes, so I am taking about a month off until we can get the baby in a routine and some order again.

--zz



congrats

that's a great thing that you are doing
Bend over and assume the position for another 4 years of hope and change.

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Postby Patch » Mon Aug 17, 2009 1:32 am

zapzinig

You and your wife are too wonderful. Enjoy your time. I've several friends who have had traveled a long and difficult road persueing the adoption process here in the DC area.

I am thrilled for you. Enjoy every minute.

Patch
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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