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dragon33
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Re: Questions

Postby dragon33 » Tue Oct 13, 2009 7:02 am

thehumbledone wrote:Hi...

My trading partner and I am lurking for about a month now, reading every post and looking at charts in this great forum. We have been trading for over 8 years and we are really interested in what you are doing here...it would be nice to be "FREE" as someone mentioned in a post.

But we must be honest with you great traders...we are having a very hard time understanding what you are looking for to identify a potential trade and what you use to determine your entries.

We dont understand some of the terms that many use here that seem to be important to their success:

:arrow: Z Lines--can someone be so kind and show us on a chart where and what a Z line is?
:arrow: MOMO candle and...what is a momo candle? I read somewhere that its not just a candle that is 2x's as large as a prior candle...so what things make up a MOMO candle?
:arrow: HELD PROFITS--what is meant by this exactly? How do i know there are held profits and what is the psychological importance to trading about held profits?

Lastly we looked at Dragons chart and have some questions about why lines are drawn where they are and also why? We have attached the marked up chart.

Hopefully this isnt too much of a pain and someone will be gracious and kind enough to help us so that we can in turn help others as they come onto this great forum.

Thanks for all that everyone does here!

Humbled


Hi Humble 8)

One of the above posts by MightyOne clarifies all of your answers.

A zeroline is created by a body in direction of profit. You can see that on your charts when there is a BO of previous high or low!
The next important thing to make your decision is a wick in direction of loss. Read price need to wick the BO. If that happens you have a valid trade!
The higher the timeframe the bigger the importance, the bigger the runs.
You only need two candles to trade nothing more!
Always look to the higher frame like H4 because the momo bars will lead you in the right direction!

Image

The number ones are the bodies in direction of profit. The 2's are wicks in direction of loss. Keep the lines on your charts because those lines will be possible targets in the future when the run is bigger.
I can not explain it like Mighty because of the language barriere. The technical stuff is on his part. But what is shown on the picture is the basic of it. Observation and trying will make it understandable for you.
Last edited by dragon33 on Tue Oct 13, 2009 7:19 am, edited 1 time in total.
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Braathen
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Postby Braathen » Tue Oct 13, 2009 7:13 am

Had a bad day yesterday.. net -25 pips.. ahh well! i wont even bother posting them cuz i know what i did wrong :) "Price doesnt move as fast as you think" .. anyway.. i got a good start on the GU this morning.. i have no idea if my read was valid but it worked for a good 46 pips :)

Image
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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Postby Fxtraveller » Tue Oct 13, 2009 7:35 am

thehumbledone wrote:
es/pip wrote:
thehumbledone wrote:Hi...

My trading partner and I am lurking for about a month now, reading every post and looking at charts in this great forum. We have been trading for over 8 years and we are really interested in what you are doing here...it would be nice to be "FREE" as someone mentioned in a post.

But we must be honest with you great traders...we are having a very hard time understanding what you are looking for to identify a potential trade and what you use to determine your entries.

We dont understand some of the terms that many use here that seem to be important to their success:

:arrow: Z Lines--can someone be so kind and show us on a chart where and what a Z line is?
:arrow: MOMO candle and...what is a momo candle? I read somewhere that its not just a candle that is 2x's as large as a prior candle...so what things make up a MOMO candle?
:arrow: HELD PROFITS--what is meant by this exactly? How do i know there are held profits and what is the psychological importance to trading about held profits?

Lastly we looked at Dragons chart and have some questions about why lines are drawn where they are and also why? We have attached the marked up chart.

Hopefully this isnt too much of a pain and someone will be gracious and kind enough to help us so that we can in turn help others as they come onto this great forum.

Thanks for all that everyone does here!

Humbled


i am honestly not sure if this is a serious post or not

if it is

and i am sure i am going to sound like an ass

but

have you read the thread?
I am serious es/pip....sorry you doubt it.

and please dont waste your time if you think this is a joke.

Maybe someone will be kind enough to direct me to the post or posts and I will go read them with my tail between my legs

and as I stated above, I have read the thread. what is wrong with asking for clarification?

all i want is some help and i am sure i am not the only trader here who would like to understand this.

i apologize for my stupidity.



The zlines start on page 139:

http://kreslik.com/forums/viewtopic.php ... start=1380

good luck

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Braathen
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Postby Braathen » Tue Oct 13, 2009 8:07 am

in my prev post it said that the outer lines where 5 degrees from the original triangle.. but ack.. i must have been smoking cuz they where 10 degrees away.. so.. yeah well.. just thought id point that out
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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pablo101
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Postby pablo101 » Tue Oct 13, 2009 8:45 am

Braathen wrote:Had a bad day yesterday.. net -25 pips.. ahh well! i wont even bother posting them cuz i know what i did wrong :) "Price doesnt move as fast as you think" .. anyway.. i got a good start on the GU this morning.. i have no idea if my read was valid but it worked for a good 46 pips :)

Image


Nice trade :)
Last edited by pablo101 on Tue May 04, 2010 7:42 am, edited 1 time in total.

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Postby Pema » Tue Oct 13, 2009 10:39 am

Hi Guys

I did a buy on the 1H ZL but when do I need to take profit ?
At de Daily MZ Or take what I can take?

Pema
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Postby Pema » Tue Oct 13, 2009 10:47 am

Here is the picture :o


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Braathen
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Postby Braathen » Tue Oct 13, 2009 10:59 am

Just got this burst on the EU.. didnt really have a target so i took 50 when the opertunity presented itself. I was thinking about taking the short but the weak closes below my lines and since i was in a long 1h MZ i just sticked to the long unless it started breaking the low of the ah momo. Great day so far.. threw yesterdays loses in the bin and bagged a good bit today.

Image
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

Pema
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Postby Pema » Tue Oct 13, 2009 11:09 am

Pema wrote:Here is the picture :o




I took 70 Pips :lol:

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Braathen
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Postby Braathen » Tue Oct 13, 2009 11:16 am

well done pema :) nice catch :smt033
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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