I guess the thread is a bit long to say, you should read it from the beginning!
However I don't see how your chart/trade as above, is in the spirit of this thread.
i.e. Stops - you'll give MO a heart attack! Take your profit or take your loss. You get paid for taking a risk. If your trade has broken down to the extent your are no long prepared to take the risk, then close the trade.
i.e. Z/Lines - these trades would see you enter on the bar you got stopped out on. You would have es/pip reaching for another bottle on that one!
Sorry, it's just that I'd like to see the thread to stay true to its origins.
PA, S/R, ZL, EXTREMES & MOMO
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HOLY FCK Humble
He's trading using S/R, PA, ZLs, MOMO and from EXTREMES. Nothing wrong with posting and trying to learn, am I right?
and You should know Humble that reading is not the way to learn.
MO actually was here and said nothing about it.
About ES, I think speaking of the absent is not what gentlemans do
short EU
He's trading using S/R, PA, ZLs, MOMO and from EXTREMES. Nothing wrong with posting and trying to learn, am I right?
and You should know Humble that reading is not the way to learn.
MO actually was here and said nothing about it.
About ES, I think speaking of the absent is not what gentlemans do
short EU
im gluten free intolerant
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- Captain Pugwash
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nice trade Nerw0wy - certainly PA
In my head this is why the Z - line works
Traders take a break out short - they all put stops (buy orders) in all over the place.
price reverses - the same traders all feel the same FEAR you did!
They move their stop (buy orders) to BE, for they cannot bear to see their precious baby go negative. (all those stops are now all in the same place)
The market now simply sees a rich level -with a lot of buy orders they (the pros) can sell into without moving the price
NEVER MOVE YOUR STOP - you were even MORE right when price took you out - because now you know excactly how far down you can target.
The market doesn't target your stop - it targets a rich vein of orders.
keep up the good work mate
In my head this is why the Z - line works
Traders take a break out short - they all put stops (buy orders) in all over the place.
price reverses - the same traders all feel the same FEAR you did!
They move their stop (buy orders) to BE, for they cannot bear to see their precious baby go negative. (all those stops are now all in the same place)
The market now simply sees a rich level -with a lot of buy orders they (the pros) can sell into without moving the price
NEVER MOVE YOUR STOP - you were even MORE right when price took you out - because now you know excactly how far down you can target.
The market doesn't target your stop - it targets a rich vein of orders.
keep up the good work mate
Last edited by Captain Pugwash on Tue Jul 17, 2012 8:43 am, edited 1 time in total.
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
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Humble wrote:I guess the thread is a bit long to say, you should read it from the beginning!
However I don't see how your chart/trade as above, is in the spirit of this thread.
i.e. Stops - you'll give MO a heart attack! Take your profit or take your loss. You get paid for taking a risk. If your trade has broken down to the extent your are no long prepared to take the risk, then close the trade.
i.e. Z/Lines - these trades would see you enter on the bar you got stopped out on. You would have es/pip reaching for another bottle on that one!
Sorry, it's just that I'd like to see the thread to stay true to its origins.
"if you want to post your charts no matter what they are based on feel free to do so"~ES. Kreslik is quiet enough with out you discouraging ppl. If you want to be helpful post a chart of your trades so we can all learn something.
Withnail
Last edited by withnail on Tue Jul 17, 2012 10:09 am, edited 1 time in total.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.
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