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pablo101
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Postby pablo101 » Sat Dec 05, 2009 3:24 am

bakaender wrote:I've been trading Zlines for awhile now and making some money, I haven't had a loss in about a month.

Funny thing though after all that time I realized last night that I've been doing it wrong the whole time... :oops:

Basically I have been only trading H1 or H4 charts, waiting for price to reach a ZL and enter on it and usually only getting a quick 5-10 points per trade as I didn't know if each point would be the point it reverses at.

It just randomly dawned on me that I wait for the reversal to happen, then look to a lower TF for an entry targeting the ZLs created reaching that reversal point. I struggled trading the lower time frames for awhile before I just stopped trying, and now it just all makes sense, everything es/pip and dragon said over and over, I can't believe its so obvious.....


Cha Ching! Time to put money on it :smt038
What line? The line that tells you which way you are trading! - MO

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pablo101
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Postby pablo101 » Sat Dec 05, 2009 3:27 am

PTG wrote:The web is full of rubbish, the subject of forex is no exception. It is almost an art to sift through all this and pick out the gems. The link below is a gem. A must-read if you're serious about trading imho.

Behavior modification, without doubt, is the key to trading success -- not only in how we think but also how we act in certain
situations. We must adapt to changing situations over which we have no control. We must change the situations over which we do
have control.


http://www.webtrading.com/phantom/preface.htm

It is also available as a pdf. Search the internet and you will find it.

Enjoy 8)


This is a nice read for the weekend. It's always nice to learn something more about yourself, not just for trading. Thanks! :)
What line? The line that tells you which way you are trading! - MO

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Postby Humble » Sat Dec 05, 2009 8:15 am

bakaender wrote: I can't believe its so obvious.....


You don't want to know how long it took me to able to think that!

Good trading.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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My interpretation Of Zline? Fail or A+

Postby MDSEA » Tue Dec 08, 2009 11:49 pm

Hello all. I've also been lurking in the background of this thread for a yr now trying out the zline method. I too am interested in draining the banks. And I've come to the point where I still don't think I have the zline trade wrapped around my head yet.

I get the The body in direction. The wick towards profit.

But I don't get where the tp is or how its determined.

To Break it down this is the steps I would do.
Watch a zline on h1
when one is created
I would go into m15 and wait for a zline in same direction.
Then take the trade if wick is made in 15min.

After that im pretty much lost. There are two obvious outcomes.I would either get stopped out or closed candle over zline. OR What im interested in hitting the target we are going for...

First question is, is this even right? Do I even need to scroll down to lower timeframe?
Second is, how are the targets for tp determined?

on another note I would like to thank Tro, mo, 3clipz3, and also the inspiring posts people have posted on this thread.

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Postby noushina » Wed Dec 16, 2009 6:27 pm

Outsmarted myself. Thought I would share this little zline related blooper.

Tried a new strategy -- a straddle. I was trying to catch a breakout buy, instead a zline got wicked and a reversal followed.



A few hours prior to the zline being hit, I had set a Buy stop at 1.4590 thinking to catch a possible breakout (the market was about 40 pips below this spot when I set the buy stop). I also had a sell stop on the other side around 1.4496 - thinking to enter a sell if it broke strong to the downside instead.

When I placed the buy stop I thought that it looked to be about the place that a zline should be drawn, but ignored that little mental warning. (See footnote) - if I had set my buy stop a pip higher I would not have never been hit.

Anyway, my buy stop got hit, the zline I had ignored was wicked, and the candles promptly reversed. Fortunately I only lost 10 bucks by the time I was able to get on-line and see what was happening.


Footnote:
As most of you know, a zline is often drawn at the midpoint of the real body of a long candle. You can also add candles together as here the two red 4 hour bars that I circled to make one long candle.

If you are mystified by the notions of zlines and mighty zones, then add Blubb's zline and might zone indicators one at a time and see what they do. Blubb's zline settings default to the midpoint of a large candle, but can be changed to be the top of the real body for red candles (& bottom of the real body for green candles). Blubb's mighty zone indicator will actually draw a colored area between this midpoint zline and the real body zline. So if you put his zline indicator and mighty zone indicator on your chart at the same time you probably wont be able to see the zline since it will be one of the borders of the mighty zone.

The zline method is to wait for a zline to to get wicked and then pick up a reversal.

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Postby pablo101 » Mon Dec 28, 2009 5:36 am

Hi all, I hope everyone had a nice Christmas :)

Keeping this thread going.

Thank you and happy hols
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pablo101
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Postby pablo101 » Mon Dec 28, 2009 9:04 am

I hope everyone had a nice Christmas :)
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Postby pablo101 » Mon Dec 28, 2009 1:25 pm

Test
What line? The line that tells you which way you are trading! - MO

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Postby NeGem » Thu Dec 31, 2009 6:38 am

Hi all,

I have a couple questions regarding "price action". Many of the trades posted by es/pip and dragon are based on mighty zone + price action. When you guyz talk about price action, what does that mean?

When I look at a chart, I constantly see price going up and down. Then, I notice that the candle does not always tell the truth. For example, a 5 minute bearish pin bar can actually be bullish when you look at how the candle forms. While the candle is forming, I notice the conflict/ battle between the buying pressure and the selling pressure. Even though price forms a bearish pin bar, the overall buying pressure still dominate the selling pressure because I can see that price rises very rapidly (takes 1 minute to rise) and price drops very slowly (takes 4 minutes to fall about the same height). Is price action referring to this "battle between buying and selling pressure"?

If so, does that mean you have to constantly look at the chart when the trade is executed because the buying and selling pressure may alter (which is the point where we exit?)?

Any help will be appreciated ^^

Thanks :)

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Postby pablo101 » Tue Jan 05, 2010 1:09 am

This thread is getting long and difficult to access. Anyone want to archive this thread?
What line? The line that tells you which way you are trading! - MO

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