Never Lose Again

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aliassmith
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Postby aliassmith » Tue Aug 25, 2009 12:21 am

I really love the ZL/MZ methodology. It is fantastic. I see how it can be applied to H1 charts with good success. The problem is my work schedule only allows me to trade about 4 hours a day. I a trying to convert my new found knowledge to a M5 chart.

When I watch a M5 chart it seems to have similar characteristics as the H1 chart. So now I am going to analyze the M5 and so far it looks promising.
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pablo101
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Postby pablo101 » Tue Aug 25, 2009 12:30 am

Patch wrote:lukx

If you believe you are going to lose your account, you have a 99% likelihood you will accomplish what you believe. If I may suggest stop trading live money immediately and begin assessing and learning. You know what doesn't work, begin learning what does work. With you beliefs, you will achieve that which you believe, no more no less.

Your Friend in VA
Patch


Lukx

You can do it bud! :)
Last edited by pablo101 on Tue May 04, 2010 4:14 am, edited 1 time in total.

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es/pip
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Postby es/pip » Tue Aug 25, 2009 12:42 am

aliassmith wrote:I really love the ZL/MZ methodology. It is fantastic. I see how it can be applied to H1 charts with good success. The problem is my work schedule only allows me to trade about 4 hours a day. I a trying to convert my new found knowledge to a M5 chart.

When I watch a M5 chart it seems to have similar characteristics as the H1 chart. So now I am going to analyze the M5 and so far it looks promising.


just make sure you are aware of where the higher time frame momo is and where you are at in the bigger picture.

it is easy to get caught up in just what the m5 chart is doing and it can whipsaw you back and forth.


also,

its key to note in the chart you posted that the h1 ( during that period) was clearly momo to the downside--- and as a result you were trading in the direction of profit--- and low and behold you made pips :D
Bend over and assume the position for another 4 years of hope and change.

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brettnchrism
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Postby brettnchrism » Tue Aug 25, 2009 12:53 am

Win one lose one. I made a mistake and went against the H4 down trend took a long position on the long z line. Lessons learned just wanted to post for any feed back.
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es/pip
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Postby es/pip » Tue Aug 25, 2009 1:03 am

brettnchrism wrote:Win one lose one. I made a mistake and went against the H4 down trend took a long position on the long z line. Lessons learned just wanted to post for any feed back.


and noticing that and acknowledging that is a good thing


it wasnt so much the h4 downtrend, but the h4 down momo bar you bought into.

basically they fooled you by showing momo on the h1-- which looked like it was going to go up-- but they formed the h1 bars like that right back into the huge h4 down momo bar--- which was a short setup.

your trade could have just as easily worked-- but odds are the h4 momo wins that battle----- most times
Bend over and assume the position for another 4 years of hope and change.

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jz166
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Postby jz166 » Tue Aug 25, 2009 1:27 am

long or not? why? H1 is red btw.
thanks!

Image

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brettnchrism
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Postby brettnchrism » Tue Aug 25, 2009 1:53 am

Thanks for the reply ES. I also took this entry pre asian open so I think timing has a little part as well. I have made a note. I'm still working out a exit strategy I hold way to long. I notice that if its going to go my way it normally does within five to ten minutes but not sure if this is s good gauge to exit.

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prochargedmopar
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Postby prochargedmopar » Tue Aug 25, 2009 1:54 am

aliassmith wrote:I really love the ZL/MZ methodology. It is fantastic. I see how it can be applied to H1 charts with good success. The problem is my work schedule only allows me to trade about 4 hours a day. I a trying to convert my new found knowledge to a M5 chart.

When I watch a M5 chart it seems to have similar characteristics as the H1 chart. So now I am going to analyze the M5 and so far it looks promising.


I'm with you on this.
Just up the pip value and lower the daily requirement.

Here is my version of trading with m5 direction and m1 price action.

Image

And here is the m15 direction using m5 momo to take the trade.........

Image

These charts continue all the way to daily's....May only trade m5's but Look at them all.heheheehe
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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prochargedmopar
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Postby prochargedmopar » Tue Aug 25, 2009 1:56 am

BTW, the first pic is a perfect example of a larger correction that does not return to the extreme.........see the m1's??????

LOL
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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brettnchrism
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Postby brettnchrism » Tue Aug 25, 2009 2:16 am

Took a GU short lets see how it turnes out.












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