PA, S/R, ZL, EXTREMES & MOMO

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cfabian
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Postby cfabian » Mon Mar 07, 2011 6:15 pm

I had these 2 trades today, worth -40.
Any comments are more than apreciated.

Cheers

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WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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dojirock
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Postby dojirock » Mon Mar 07, 2011 6:32 pm

I used to find this problem all the time. Take notice of the 8 hr momo bar. You never closed above that bar line. Break time zones down, the houlry m bars gave you some pips then zeroed out, the 15 min mbars gave you pips then zeroed. I try to take pip ranges based on what i see for each time period. hourly may give 15 to 40, 15 min 5 to 15 pips. i try to stay 4 to 5 candles out for mzones....so on the 8 hour if it enters the mz zone with in 3 8 hour candles I would take a long in this instance. When I place a trade I dont mix time frames.

dojirock
"A small loss is just as satisfying as a large gain" -MO
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FXfreak
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Postby FXfreak » Mon Mar 07, 2011 6:43 pm

cfabian, i'm far away from an expert but i did the same trades on another pair and ended like you in a loss.

i can tell you the only thing that worked (for me): trading the extremes from h1 or h4.

if i look at your trades than i have to say that you are always late. today there would have been one entry near 114.50 for a long and a short near 115.25. look for these areas at h1 or h4 or d1 and than use entries near these extreme levels.

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MightyOne
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Postby MightyOne » Mon Mar 07, 2011 7:01 pm

Small charts L' kill you :wink:


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cfabian
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Postby cfabian » Mon Mar 07, 2011 11:34 pm

dojirock wrote:I used to find this problem all the time. Take notice of the 8 hr momo bar. You never closed above that bar line. Break time zones down, the houlry m bars gave you some pips then zeroed out, the 15 min mbars gave you pips then zeroed. I try to take pip ranges based on what i see for each time period. hourly may give 15 to 40, 15 min 5 to 15 pips. i try to stay 4 to 5 candles out for mzones....so on the 8 hour if it enters the mz zone with in 3 8 hour candles I would take a long in this instance. When I place a trade I dont mix time frames.

dojirock


Hi dojirock, thanks for your response.
Would you mind to show in a chart that 8h momo and the line you refer to?
It will make it lot more simpler to understand.

Cheers
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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cfabian
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Postby cfabian » Mon Mar 07, 2011 11:37 pm

FXfreak wrote:cfabian, i'm far away from an expert but i did the same trades on another pair and ended like you in a loss.

i can tell you the only thing that worked (for me): trading the extremes from h1 or h4.

if i look at your trades than i have to say that you are always late. today there would have been one entry near 114.50 for a long and a short near 115.25. look for these areas at h1 or h4 or d1 and than use entries near these extreme levels.

Image


Thanks FXfreak,
I've tried trading those extremes you talke about, but found them hard to trade as many many times the trend continues, there's a break of the one, and get nailed. What approach do you use to make it safer?

Cheers
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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cfabian
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Postby cfabian » Mon Mar 07, 2011 11:41 pm

MightyOne wrote:Small charts L' kill you :wink:


Image


MO, would love to trade larger TF, but still struggling.
It would be great to have just 2 higher TF trade per week or month, other than burning your ass on a daily basis to get some pips. I want to get there, but still a long journey I guess.

Cheers
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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cfabian
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Postby cfabian » Mon Mar 07, 2011 11:54 pm

FXfreak wrote:trading is bad!

the idea behind my long was a 50% fib-retracement and a support-line. it was the same idea which ended in a loss on gu. the only way to get out of these "random-trades" is to cut your losses and let your profits run. my results from last week were spectacular (for me) because i only tried to get the big reversals on 4h- or at least 1h-extremes which had a potential profit margin of at least 50-100 pips.

this 50%-fib trade is everything else than a trade with a wonderful rr-ratio.

...target 40, sl be


FXfreak, can you post a few of your H4 - H1 trades? this comes in relation to your previous reply to previous chart.

Thanks a lot in advance.
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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dojirock
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Postby dojirock » Tue Mar 08, 2011 12:52 am

Maybe this will help

dojirock
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newscalper
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Postby newscalper » Tue Mar 08, 2011 5:16 am

Hi Mo, nice to see you back on here :D
Quick question - when you add do you do it on the larger timeframe or the smaller?

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