P&F charts suck, don't use them...

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Jalarupa
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Postby Jalarupa » Tue Oct 04, 2011 6:31 pm

Hey cmac,

If I may share some of my own realization.

Personally I find that using all of the above works better for me, because I see my role as a trader to become a master of price action, in that I can look at a chart and determine a probable outcome in an if then scenario. I then trade purely on what the charts are telling me, instinctively and almost seamlessly let the trading take of the decisions. If I'm wrong I cut some space or take a small loss (never a whole loss).

I try to follow the rules set out by the kreslik guru's and see where their application applies to real time scenarios and I act on those rules as part of my trading discipline.

Regarding MOMO and Zlines... I trade using Dragon33's method of deduction and I do so quiet profitably, My entries are not the same as I like to enter on a line, but the fundamental analysis is and its almost comforting to know that if I have my analysis right that I'm sure many of my Kreslik comrades are executing the same trades as I am or at least in a similar direction...

So analysis is key... Understanding of PA is key and then knowing where and when you will jump in is also very important (if too early you can take a little off the table and add in when things start to go your way...) if a little late you scalp for whatever the market will be willing to give you...

Honestly I trade off short term with my Dragon Methodology chart.

With longer term High Time frame S&R trades I use 3xCC's / 9CC in the background with a Glen Nealey Fibo retracement model to accurately pick high time frame S&R and I set alerts and observe what happens when PA comes into those zones, here is where I will take a long term view based on what the long term outlook looks like and its helped me to double accounts in a matter of weeks...

And now finally the new found PnF experiment is doing wonders for both long term and short term methods as I can marry them using DOP studies and S/D... Like that pic I posted... I'm still short from just below the red line... Its really not that hard and if you really think about that particular trade... all it is, is a return to zline on the daily chart... Body in direction of profit, wick in direction of loss...

So yeah, hang in there and keep learning, don't feel like you know enough to not bother to learn more... I mean I see people who have been killing the market with their own conventional methods apply new ideas to further aide them in the decision making process.

But yeah I just wanna say for the record that the holy grail on this forum is the spacewars thread and Cmac, I believe if you can learn to manage your money like is shown in that thread you will double your account regularly - no lies... All the rest is just the cherry ontop.

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Belkin
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Postby Belkin » Tue Oct 04, 2011 6:42 pm

P&F + Rat Zone


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prochargedmopar
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Postby prochargedmopar » Tue Oct 04, 2011 9:24 pm

bredin wrote:Image

the color fan on the right is the first draft of the angles 15-30-45-60-75 in relation to a P&F chart... allowing for the use of known channel angles regardless of the chart scale.

G.


NICE!
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bredin
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Postby bredin » Wed Oct 05, 2011 12:18 am

Jalarupa wrote:Hey cmac,
But yeah I just wanna say for the record that the holy grail on this forum is the spacewars thread and Cmac, I believe if you can learn to manage your money like is shown in that thread you will double your account regularly - no lies... All the rest is just the cherry ontop.


Bingo!

One you start trading with space instead of with stops everything (and I do mean everything) gets easier.

Now with P&F Im finding that my exit signals for bad trades are getting tighter... IF/THEN rocks! And to follow on the continuation S/R is soo much easier to see... one can follow these and move the I/T up behind them in a kind of trailing stop (bad words, but they are close conceptualy).

G.
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bredin
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Postby bredin » Wed Oct 05, 2011 12:22 am

prochargedmopar wrote:
bredin wrote:Image

the color fan on the right is the first draft of the angles 15-30-45-60-75 in relation to a P&F chart... allowing for the use of known channel angles regardless of the chart scale.

G.


NICE!


I may have to add all the angles into the fan, my quick play found it hard to fit any of them to my charts... it also might just be me ;)

should be ready for release later tonight...

G.
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Postby zhaozilong » Wed Oct 05, 2011 1:46 am

bredin wrote:
prochargedmopar wrote:
bredin wrote:Image

the color fan on the right is the first draft of the angles 15-30-45-60-75 in relation to a P&F chart... allowing for the use of known channel angles regardless of the chart scale.

G.


NICE!


I may have to add all the angles into the fan, my quick play found it hard to fit any of them to my charts... it also might just be me ;)

should be ready for release later tonight...

G.


Hello Bredin and all,

channel or trendlines in PnF are usually(always?) drawn in 45 degree angle. Not sure if we need others angle lines, but who knows the community may discover something new with your efforts.

thanks again to bredin and all who contribute to these thread.

By the way, is there a reference to some of the acronyms being used like CC, NLA?

Best regards.

-zhao

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MightyOne
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Postby MightyOne » Wed Oct 05, 2011 2:26 am

People make trading harder than it has to be...

Body in the direction of profit

Trade off the wicks that are pointing in the direction of loss

Bah-duh-bam, bah-duh-bing! ;)

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Postby MightyOne » Wed Oct 05, 2011 2:37 am

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PebbleTrader
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Postby PebbleTrader » Wed Oct 05, 2011 3:31 am

"I may have to add all the angles into the fan, my quick play found it hard to fit any of them to my charts... it also might just be me"

Jalarupa and I were working on creating a diamond in Excel that would hold all the angles. It was taking me a bit of time to get it all drawn in there. I took a break and during the break I was thinking about how I would use it. It was at that time, I determined it was WORTHLESS.

What made the most sense was to just use your drawn angles with MB Ruler (Love that tool!).

Now, with MT4 and scaling, the angles get all screwed up and moved around. I think that's what your indi is trying to overcome though right?
Life is just a journey

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PebbleTrader
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Postby PebbleTrader » Wed Oct 05, 2011 3:33 am

(Ride or Die) ... :lol:
Life is just a journey

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