Never Lose Again

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lukx
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Postby lukx » Fri Aug 28, 2009 6:30 pm

uh I couldn't help myslef and placed trade with limit order... guess what price got there and went in predicted direction :) YOU GUYS ARE MAGICIANS!!!
I decided to risk only 15 pips and at the end gained 20.

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yellow square is limit order, triangle enter sell, green circle exit :)

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es/pip
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Postby es/pip » Fri Aug 28, 2009 6:30 pm

brettnchrism wrote:Hope eveybody got some pips today. I didn't get to trade helping family with yard sale.

Hoping Sept will be a better month at least for me......



i hope people are with the way some of these setup today--- ill post a couple charts later
Bend over and assume the position for another 4 years of hope and change.

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Postby Fxtraveller » Fri Aug 28, 2009 6:48 pm

dragon33 wrote:
Fxtraveller wrote:Can see the white line. But Would (did?) you enter at the momo candle or the following which wicked the Open/bottom of the momo candle?


You don't trade the breakout with zerolines!!!
You take the pullback


Yes., surely. But es/pip suggest if price is going down, do not blindly buy. because some momo are so great the zero lines are ripped through.

Price reaches Zline, price wicks, body closes.

Then?
Just open a buy? wait until price reverses by a few pips? go on smaller TF and wait till price breaks Open/high/low of previous candle?

Regards.

FxT.

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es/pip
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Postby es/pip » Fri Aug 28, 2009 6:56 pm

Fxtraveller wrote:
dragon33 wrote:
Fxtraveller wrote:Can see the white line. But Would (did?) you enter at the momo candle or the following which wicked the Open/bottom of the momo candle?


You don't trade the breakout with zerolines!!!
You take the pullback


Yes., surely. But es/pip suggest if price is going down, do not blindly buy. because some momo are so great the zero lines are ripped through.

Price reaches Zline, price wicks, body closes.

Then?
Just open a buy? wait until price reverses by a few pips? go on smaller TF and wait till price breaks Open/high/low of previous candle?

Regards.

FxT.


i was saying or i meant to say---- that just bec u have a zl it is not an entry signal------- if the market is going down into zl and everyone is killing the bid i am not going to just step in front of it. I look inside to see what the different areas look like and then either place my bids or wait to look at the PA and make a decision-----

this why it is discretionary and not a system.

what you need to do is

1. understand the concept
2. then determine an entry signal that suits you when you get in your area or at your zl.

i honestly do it differently every time, it just depends on what is happening on the inside on that particular trade
Bend over and assume the position for another 4 years of hope and change.

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Postby Fxtraveller » Fri Aug 28, 2009 7:11 pm

May I ask some advice?

A) are the zlines/zones identified correctly by blue boxes 1 and 2?

B) in both cases profit could have been made from pullbacks marked by arrows .

Where to enter?

case 1: buy when reaches its? thats going against some momo. dont we need to wait for the closed body?
if yes, price wicks zline, H1 closes. Open a buy straight away? or wait for the price to move, perhaps ho to a smoller timeframe?

case2: after a bull candle zeroes out sellers, next (last) candle is of high momo. until price actually goes down, we dont know here it will go.

So the point of all of this- what is (are) the best triggers to enter trade when trading zlines?
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Postby Fxtraveller » Fri Aug 28, 2009 7:23 pm

whoops.
es/pip already answered some in advance as I was typing the previous message :)

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lukx
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Postby lukx » Fri Aug 28, 2009 7:37 pm

fx here's my take on zlines from your screenshot, my take on zl is like in dragon post to lisa to wait for pullback and go with momo direction and not against it.

Image

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Patch
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Postby Patch » Fri Aug 28, 2009 8:43 pm

Lukx

Great charts posted at 2:30pm today, and the trade is even prettier than the charts!!!. Could you enplain the reasons for your entry and exit? and if you could comment on what the difference is between today's results and a week or two ago's?

Congratulations, you are on your way,

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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lukx
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Postby lukx » Fri Aug 28, 2009 8:57 pm

Jeff, here's how I saw that:

4H ZL line on green momo... so I should be ready to go long...but when I took look at 5M with I saw 1H momo short so decided to wait and see what might happen if the price would go up to 4H momo ZL I would be prepared to take long... but it went down so I waited for another 1h momo ZL2 and took short when price was there. I set 15pips SL based on top of momo to and let it go. As dragon wrote you got to go inside timframes to see extra information it might have. But basically I always wait for pullback and go with momo color based on timeframe I'm looking at.

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Postby aliassmith » Fri Aug 28, 2009 9:36 pm

Thought I would post some M5 trades from yesterday.
The first is a "Close in direction of profit" and "Wick in direction of loss"
The second trade was a S/R trade away from a MZ area.

First trade 1.6 R:R
Second trade 3.2 R:R
At 4% risk there is 19% return
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