flossnhoss wrote:Hey all, just wanted to introduce myself on this thread. I had read it a few months ago and passed on, but have recently come back with a restored interest.
First off, many thanks to TRO, MO, dragon, es/pip and the other main contributors to this thread. It's quite a buffet of information. You all are truly too kind to take your own time to help others out.
I hope to start sharing my own trades here shortly, in the hope I can also help those that are passing through here on their own journey.
As someone relatively new to the Mighty Zone, I wanted to toss in my newby perspective and offer a suggestion to those helping out and posting charts.
I believe at this point in the thread, there have been literally hundreds of pictures showing entries and exits (again, many thanks). I think visually, after the fact, anyone reading this post should be able to understand how this works.
However, what I think might be very helpful, or more valuable, is some comments on your perception of price action before you enter a trade, and perhaps while you are in the trade (with more images too of course). More specifically meaning, what you like to see, and don't like to see (that's very general I know).
As these trades are retracements, the biggest question I always find myself asking is "Is this a retracement, or a reversal?". And while you will never know prior to a trade, and this question is also relative to time, I am thinking some comments on this could be helpful. Think of it as an 'anatomy' of a trade if you will... from start to finish showing what is seen on each timeframe of interest. Those prior posts showing which timeframe the zone and/or zline is from is definitely along the same idea. This would expand on that. Just an suggestion!
Anyway, just kind of blabbering, with really just an intention to help facilitate those that know how to do this successfully, with those who are just starting out.
Happy pipping
-floss
You will do well if you understand that it is only the momo at the high and low pivots that matter.
After you spot the momo you are simply trading trading away from a line.
Wha wha waht line?
Any line in the zone &, if you are trading daily momo, the daily highs after momo is also a great place to start.
That mid trend momentum trading is usually a mistake as it is often a great place to liquidate a large position when traders that missed the move are desperate to get in.
Daily, weekly, monthly, & yearly charts are the charts that I look at.
Find momentum and drop down to a small time frame chart, but do not forget that what you are doing is trading the high time frame.
Exit prior to a reversal if you sense one and enter at a better price.
Exit once or twice because thrice will miss the move.
How do you trade?
There are only 2 extremes and price will move a hundred or hundreds of pips from either one.
You have a 50/50 shot or better at a 50% gain.
Just do it!
