Never Lose Again

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monolisa
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Postby monolisa » Tue Aug 18, 2009 6:57 am

Thanks, es.

Today's second EURJPY MZ trade.

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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dragon33
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Postby dragon33 » Tue Aug 18, 2009 10:55 am

Image

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MightyOne
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Postby MightyOne » Tue Aug 18, 2009 4:37 pm

es/pip wrote:
es/pip wrote:
prochargedmopar wrote:Anybody else take the m5 momo trade long??

Image



long as well

little different reason

Image


out at 134.05


we also had this h1 zl i was aware of--- wanted to get the h4 target ---

Image


This is called The 10* ROT:

It is used when a channel is heading south and price breaks through the lower channel (vise versa).


Image
Last edited by MightyOne on Tue Aug 18, 2009 5:14 pm, edited 1 time in total.

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MightyOne
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Postby MightyOne » Tue Aug 18, 2009 4:56 pm

Google Talk Conversation (1-4am EST I usually answer 1 on 1 requests):

Lucas: Heres one question I have about this. You group them as if they work together or something. Isnt this just 15 different angles? When I first tried the Diamond I just looked for one of the first 5 and found I could draw it in better just by sight. But that makes me think I missed something because you group them, can you shine some light on that? Thanks.


Sent at 3:49 AM on Tuesday
Mighty: Focusing on the difficult stuff again i see


Lucas: lol, Im also sitting here looking at your momentum pics as well trying to figure those out :)
just came up and thought I'd ask


Mighty: To answer your question...
with a question
:P
ill do some true or false questions
a. the majority of the time the market travels at an angle of 75*


Lucas: false


Mighty: oh, so you are saying that the majority of the time you can eliminate certain angles from the list of future channel angles?
not a trick question


Lucas: certainly


Mighty: The trick is to think of the market as moving on one or two of five angles
15-30-45-60-75
of which 15 and 75 degrees are least likely
that means that a majority of the time price will channel between 30 and 60 degrees
there are related angles called sharps and flats
each main angle above has 1 sharp and 1 flat angle that is considered the main angle
25 and 35 degrees is considered a 30 degree angle
this is the 30* group
If you notice that price is following 30 degrees most of the time then it will either follow 25 and 30 or 30 and 35 degree angles
5 degrees is your margin of error
using this method you can some what predict what price will do in the future
thus fine tuning your trades


Lucas: thank you

tradepar
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Postby tradepar » Tue Aug 18, 2009 6:59 pm

MO,

How do you select the first bar which is the starting point for drawing the angles?

Thanks

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brettnchrism
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Postby brettnchrism » Tue Aug 18, 2009 9:23 pm

Ive been scanning through blubb's zl indicators but can't seem to find one that alerts when a new momentum bar has been formed. Im looking just for one that alerts on hourly. I am missing it or maybe there isn't one?

Thanks,

Brett

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es/pip
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Postby es/pip » Tue Aug 18, 2009 9:26 pm

some from today

Image

Image


this one was riskier since it had moved up so much off the bottom

-20--- it ripped against me and stopped me out before giving me a chance to get a better price

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

aliassmith
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Postby aliassmith » Tue Aug 18, 2009 9:42 pm

es/pip wrote:
aliassmith wrote:Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%

This is how I build a position using the H1 charts


nice trade

what was the 1st entry at 1.6312 based on?


es/pips,

I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.

It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.

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es/pip
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Postby es/pip » Tue Aug 18, 2009 9:53 pm

aliassmith wrote:
es/pip wrote:
aliassmith wrote:Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%

This is how I build a position using the H1 charts


nice trade

what was the 1st entry at 1.6312 based on?


es/pips,

I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.

It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.


ok

i was just wondering why you would enter in the place that you did on the first one

there is not really a right or wrong---- i was just curious

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

BlackPearl
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Postby BlackPearl » Tue Aug 18, 2009 10:06 pm

Hi guys, new to the board here and really enjoying it. I saw in a recent post a reference to an "MZ" level or something to that effect. Can someone explain what that is?

Thanks is advance, and...I'm looking forward to getting to know everyone.

BP

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