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es/pip
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Postby es/pip » Mon Oct 19, 2009 2:34 pm

es/pip wrote:
lukx wrote:thanks es/pip, actually I feel relief that I saw right thing :)
I was more concentrated on entry than on exit and this is why I got stopped out (10 pips or something), but thanks for showing me what I should look for next time. Quick quetion, while we're still in this 4h mz if things pick up on we still might enter again for long right? or now becasue support on 5m got broken we sould be looking for short so the price is probably aiming to zl those long 4h holders?



the market is still long until

1. the h4 momo doesn't hold it and we go down
2. it tries to go up and cannot and something else sets up for the short

but right now it is still long off the h4


i got back in on the m1

largest correction and momo

wasn't the clearest setup in the world

but i know for a fact.

1 that the bias is long

2 and that if a 5 min closes against me 9 out of 10 times i can get out with no loss or a small loss

so i am willing to give it a shot

Image



then you have the choice of getting in here

it carries some risk bec you didn't get in off the bottom and now have held profit below you

if i had not looked at the m1 i would have got in here

i mean

anything can happen

it could rip up 200 pips

closes against you

do nothing at all

go up a tad

who the hell knows

u just trade what you see

but if you have the discipline to get out right away when things do not go your way and are able to accept your losses

then

you can take more shots at the market

small losers larger winners

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 » Mon Oct 19, 2009 2:38 pm

es/pip wrote:
es/pip wrote:
lukx wrote:thanks es/pip, actually I feel relief that I saw right thing :)
I was more concentrated on entry than on exit and this is why I got stopped out (10 pips or something), but thanks for showing me what I should look for next time. Quick quetion, while we're still in this 4h mz if things pick up on we still might enter again for long right? or now becasue support on 5m got broken we sould be looking for short so the price is probably aiming to zl those long 4h holders?



the market is still long until

1. the h4 momo doesn't hold it and we go down
2. it tries to go up and cannot and something else sets up for the short

but right now it is still long off the h4


i got back in on the m1

largest correction and momo

wasn't the clearest setup in the world

but i know for a fact.

1 that the bias is long

2 and that if a 5 min closes against me 9 out of 10 times i can get out with no loss or a small loss

so i am willing to give it a shot

Image



then you have the choice of getting in here

it carries some risk bec you didn't get in off the bottom and now have held profit below you

if i had not looked at the m1 i would have got in here

i mean

anything can happen

it could rip up 200 pips

closes against you

do nothing at all

go up a tad

who the hell knows

u just trade what you see

but if you have the discipline to get out right away when things do not go your way and are able to accept your losses

then

you can take more shots at the market

small losers larger winners

Image



and in saying all of that above

i am up a lot of pips from the asian and euro session so i trade a lot more aggressive

i do not protect my pips i use them to hammer other traders

:D
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 » Mon Oct 19, 2009 2:45 pm

Image

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Braathen
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Postby Braathen » Mon Oct 19, 2009 2:48 pm

awsome trade es/pip.. u hit it on the nail!!

Pablo.. i think bodies more then wicks.. try that.. very hard to explain.. ill be going over it again myself in the weekend.. id start off by just reading all the stuff MO has posted recently and start drawing. I really dont know what else to say atm... hopefully i will be the jedi DoP soon but atm im still learning and dont want to say much due to the fact i could be horribly wrong. 8) 8) :shock:

Ezz/pip.. i love the way u played that off the 1 minutte.. unreal imo... now thats discrecenary trading man.. stuff me u rock (i know its spelt wrong)
"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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lukx
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Postby lukx » Mon Oct 19, 2009 2:49 pm

es/pip and in this kind of situation when we're so high how we should setup the take profit? shoudl we look at daily (but even on daily we;re very high.

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aliassmith
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Postby aliassmith » Mon Oct 19, 2009 2:51 pm

Looks like EUR/USD just hit a H1 ZeroLine to the long side and pulled back hard.

Missed this great move on GBP/USD because I was more worried about the short I was in on the previous retrace.
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es/pip
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Postby es/pip » Mon Oct 19, 2009 2:56 pm

lukx wrote:es/pip and in this kind of situation when we're so high how we should setup the take profit? shoudl we look at daily (but even on daily we;re very high.


just control your risk and trade what you see


i would be aware of the last h1 pivot and watching the PA on the m5
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lukx
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Postby lukx » Mon Oct 19, 2009 3:35 pm

this time I tried not to over trade, I waited , and waited and waited...
took 3 trades today, all 3 are losers for me:

blue triangle long entry red circle stop loss:

Image

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es/pip
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Postby es/pip » Mon Oct 19, 2009 3:46 pm

lukx wrote:this time I tried not to over trade, I waited , and waited and waited...
took 3 trades today, all 3 are losers for me:

blue triangle long entry red circle stop loss:

Image



well

you got in way too late for the move on the first euro --had i got it in that area i would have been in "pip grab mode" and took the first spike as an exit

not sure what you were looking at on the 2nd long entry into a previous high ---- that makes no sense at all


you have to read what the market is telling you


i cant explain it in words

if you will just spend the time and try to understand what the bars are saying it will come to you


not sure what to tell you

i will post some charts in a sec. of what i did during the us morning session-----

the way the market moves between s/r coupled with momo is pretty clear to me i am not sure how to put it into words for you to understand
Bend over and assume the position for another 4 years of hope and change.

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TheRumpledOne
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Postby TheRumpledOne » Mon Oct 19, 2009 3:47 pm

It always amazes me... traders have the urge to CHANGE things, under the guise of improvement, instead of making money with proven setups.

Ego?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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