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es/pip
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Postby es/pip » Tue Sep 01, 2009 12:01 am

cfabian wrote:Hey Lukx,
Let's hear the pros answer this, but in my opinion if you consider taking these trades, will be in shorter time frames aiming the line at 50% of previous momo bars, only if you get a short momentum in your smaller TF.

However, overall, why you want to consider trading short in H4 when momentum is upwards as well as held profit???? I would target 152.00 on the GBPJPY. Trading short in these setups are riskier.

That's my take on this, however I'm in the same process as you.

Cheers



i will let dragon answer the other post since it is directed to him


this is just what i do---- it may not work for you--hell it may not even be what u are supposed to do.

remember---------------------------------

a true zl trade happens on consecutive bars----- so i am more willing to just get in on those.

the ones that happen that are not on consecutive bars are treated like a s/r trade and you trade away from the area

on these---

i am little more hesitant to place bids or offers---- but sometimes i do-----most times i don't --- when i am coming into a zl that happened over multiple bars i want to see some new momentum inside that time frame and trade it off that,

So what the above means is

i am coming into a larger time frame s/r based on a zl or mz. I dial down to see what is going on inside. I want to see momo increasing to show me the way. I am then watching the PA on the inside time frame to tell me whether it is going to work or not----- i have no problem closing the trade if i see something i do not like and just getting back in when things turn back to the way i want.

i look at that scenario the same as cfabian was saying--- on the ej

you have an h4 big down momo

then you have what looks like an increase in momo on the h4(based on the previous bar) but it is right back into the larger down momo so i would still be thinking short--------- however, sometimes i will play it long off that bar depending on whatever makes me make my decisions-------majority of the times i am treating it like i said above looking short.

i didnt even make a trade in the ej in the US session today--- i was short near the asian session start. made my pips on that and the euro and pound long before the US open---- you can see them on the h1 charts after coming into h4 support


i know a lot of people are looking for a do this when this happens and do that when that happens type of answers---

it doesn't work that way

it is discretionary












lukx wrote:and another question.... we should be aiming for bigger gaps between opposite MightyZOnes right?
So in picture below Left short trade is better than Right one?

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

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es/pip
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Postby es/pip » Tue Sep 01, 2009 12:06 am

cfabian wrote:Hey Lukx,
Let's hear the pros answer this, but in my opinion if you consider taking these trades, will be in shorter time frames aiming the line at 50% of previous momo bars, only if you get a short momentum in your smaller TF.

However, overall, why you want to consider trading short in H4 when momentum is upwards as well as held profit???? I would target 152.00 on the GBPJPY. Trading short in these setups are riskier.

That's my take on this, however I'm in the same process as you.

Cheers




lukx wrote:and another question.... we should be aiming for bigger gaps between opposite MightyZOnes right?
So in picture below Left short trade is better than Right one?

Image


i will let dragon answer the other post since it is directed to him


this is just what i do---- it may not work for you--hell it may not even be what u are supposed to do.

remember---------------------------------

a true zl trade happens on consecutive bars----- so i am more willing to just get in on those.

the ones that happen that are not on consecutive bars are treated like a s/r trade and you trade away from the area

on these---

i am little more hesitant to place bids or offers---- but sometimes i do-----most times i don't --- when i am coming into a zl that happened over multiple bars i want to see some new momentum inside that time frame and trade it off that,

So what the above means is

i am coming into a larger time frame s/r based on a zl or mz. I dial down to see what is going on inside. I want to see momo increasing to show me the way. I am then watching the PA on the inside time frame to tell me whether it is going to work or not----- i have no problem closing the trade if i see something i do not like and just getting back in when things turn back to the way i want.

i look at that scenario the same as cfabian was saying--- on the ej

you have an h4 big down momo

then you have what looks like an increase in momo on the h4(based on the previous bar) but it is right back into the larger down momo so i would still be thinking short--------- however, sometimes i will play it long off that bar depending on whatever makes me make my decisions-------majority of the times i am treating it like i said above looking short.

i didnt even make a trade in the ej in the US session today--- i was short near the asian session start. made my pips on that and the euro and pound long before the US open---- you can see them on the h1 charts after coming into h4 support


i know a lot of people are looking for a do this when this happens and do that when that happens type of answers---

it doesn't work that way

it is discretionary
Bend over and assume the position for another 4 years of hope and change.

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es/pip
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Postby es/pip » Tue Sep 01, 2009 6:36 am

es/pip wrote:
cfabian wrote:Hey Lukx,
Let's hear the pros answer this, but in my opinion if you consider taking these trades, will be in shorter time frames aiming the line at 50% of previous momo bars, only if you get a short momentum in your smaller TF.

However, overall, why you want to consider trading short in H4 when momentum is upwards as well as held profit???? I would target 152.00 on the GBPJPY. Trading short in these setups are riskier.

That's my take on this, however I'm in the same process as you.

Cheers




lukx wrote:and another question.... we should be aiming for bigger gaps between opposite MightyZOnes right?
So in picture below Left short trade is better than Right one?

Image


i will let dragon answer the other post since it is directed to him


this is just what i do---- it may not work for you--hell it may not even be what u are supposed to do.

remember---------------------------------

a true zl trade happens on consecutive bars----- so i am more willing to just get in on those.

the ones that happen that are not on consecutive bars are treated like a s/r trade and you trade away from the area

on these---

i am little more hesitant to place bids or offers---- but sometimes i do-----most times i don't --- when i am coming into a zl that happened over multiple bars i want to see some new momentum inside that time frame and trade it off that,

So what the above means is

i am coming into a larger time frame s/r based on a zl or mz. I dial down to see what is going on inside. I want to see momo increasing to show me the way. I am then watching the PA on the inside time frame to tell me whether it is going to work or not----- i have no problem closing the trade if i see something i do not like and just getting back in when things turn back to the way i want.

i look at that scenario the same as cfabian was saying--- on the ej

you have an h4 big down momo

then you have what looks like an increase in momo on the h4(based on the previous bar) but it is right back into the larger down momo so i would still be thinking short--------- however, sometimes i will play it long off that bar depending on whatever makes me make my decisions-------majority of the times i am treating it like i said above looking short.

i didnt even make a trade in the ej in the US session today--- i was short near the asian session start. made my pips on that and the euro and pound long before the US open---- you can see them on the h1 charts after coming into h4 support


i know a lot of people are looking for a do this when this happens and do that when that happens type of answers---

it doesn't work that way

it is discretionary


lol and after saying all that above about the ej sometimes i scrap all of it and just do what the market is doing

traded it short twice at be and then took it long


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

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lukx
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Postby lukx » Tue Sep 01, 2009 6:48 am

hmmm, the longer I'm looking at the charts and all MZs and LZs the more foggy my picture is getting. There's so many ZLs and MZs on all timeframes that I'm starting to have problems with picking the ones to trade.
I need some rule to choose trades.

Would those be good filter methods:

1) only first touch of ZL in MZ but sometimes second touch might be even better:
Image

2)after price got close to 0% of MZ look for opposite MZ or still if price goes down MZ is valid.
Image

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Postby dragon33 » Tue Sep 01, 2009 6:54 am

lukx wrote:hmmm, the longer I'm looking at the charts and all MZs and LZs the more foggy my picture is getting. There's so many ZLs and MZs on all timeframes that I'm starting to have problems with picking the ones to trade.
I need some rule to choose trades.

Would those be good filter methods:

1) only first touch of ZL in MZ but sometimes second touch might be even better:
Image

2)after price got close to 0% of MZ look for opposite MZ or still if price goes down MZ is valid.
Image


Do not stop and reverse, wait for momo building up before you go the other way. Momo is the key to succes.
H4 is at the end, wait untill momo build up on M15, wait for price to reverse to M15 momo, take the trade that's it!
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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Thank you for your support.

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es/pip
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Postby es/pip » Tue Sep 01, 2009 6:58 am

lukx wrote:hmmm, the longer I'm looking at the charts and all MZs and LZs the more foggy my picture is getting. There's so many ZLs and MZs on all timeframes that I'm starting to have problems with picking the ones to trade.
I need some rule to choose trades.

Would those be good filter methods:

1) only first touch of ZL in MZ but sometimes second touch might be even better:
Image

2)after price got close to 0% of MZ look for opposite MZ or still if price goes down MZ is valid.
Image


u need to find what works for you

everyone kinda does it different

i tend to look at a zl as a 1 time thing---so after it zl's the traders i tend to discount it after that happens.

a mz is a little different bec any line in a mz is a zl. so you have a lot of different zl in the mz. I generally like the first push into the mz for the way i trade-- but i am always looking inside to see what is happening. when i say first push i mean the swing that comes into it on that time frame that the mz is on. if it comes in and then exits and makes a double top or whatever, and then comes back in i am less interested in it, but still watching inside and making decisions off that. Just because it doesn't go when i want it to doesn't mean it isn't going to happen
Bend over and assume the position for another 4 years of hope and change.

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es/pip
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Postby es/pip » Tue Sep 01, 2009 7:02 am

dragon------------

are u long the pound :D :D :D :D
Bend over and assume the position for another 4 years of hope and change.

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Postby es/pip » Tue Sep 01, 2009 7:08 am

dragon33 wrote:
lukx wrote:hmmm, the longer I'm looking at the charts and all MZs and LZs the more foggy my picture is getting. There's so many ZLs and MZs on all timeframes that I'm starting to have problems with picking the ones to trade.
I need some rule to choose trades.

Would those be good filter methods:

1) only first touch of ZL in MZ but sometimes second touch might be even better:
Image

2)after price got close to 0% of MZ look for opposite MZ or still if price goes down MZ is valid.
Image


Do not stop and reverse, wait for momo building up before you go the other way. Momo is the key to succes.
H4 is at the end, wait untill momo build up on M15, wait for price to reverse to M15 momo, take the trade that's it!


what dragon said

--------------

i think you are seeing mz everywhere and wanting to make trades just bec they are there

like he said---- momo shows the way
Bend over and assume the position for another 4 years of hope and change.

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es/pip
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Postby es/pip » Tue Sep 01, 2009 7:10 am

need to sleep----

have some alerts set based on the inside PA

sleeping in the cot tonight :oops:


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

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Postby dragon33 » Tue Sep 01, 2009 7:30 am

es/pip wrote:dragon------------

are u long the pound :D :D :D :D


yes i was trading my first day at work. (working the nightshift) Just bought me a mini laptop so i can hide it when my boss comes in the controlroom.

I'm only scared for the wirelessconnection. I have to set stops and targets immediately when entering, nice challenge.
Long 1.6268 just closed at 1.6362 need to sleep. I have to work another 4 nights and tomorrow its a factorystop so i need to be real fresh.
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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