ProchargedMopar's Trading Trilogy

[Philthecat]

'Scuse me butting in but one thing I've noticed about 99.9recurring% of profitable zline trades;
is that they would have been profitable if they had been entered at the close of the momo bar with a SL past the opposite extreme.

More often than not, price does NOT retrace on the next bar or 10 and you can save yourself trying to figure out an entry based on Heisenberg's uncertainty principal. Sure, sometimes you will get a drawdown to the momo bar open and occasionally even stopped out, but there are exponentially more trading opportunities with this entry than waiting for a pullback to the line/zone.

Hi There,
Something like this you mean, where the circle is?Z-Line.JPG

Yes precisely that. I'm in one right now on USDCHF, 1.5 pips away from tp.

[kiwiarian]

'Scuse me butting in but one thing I've noticed about 99.9recurring% of profitable zline trades;
is that they would have been profitable if they had been entered at the close of the momo bar with a SL past the opposite extreme.

More often than not, price does NOT retrace on the next bar or 10 and you can save yourself trying to figure out an entry based on Heisenberg's uncertainty principal. Sure, sometimes you will get a drawdown to the momo bar open and occasionally even stopped out, but there are exponentially more trading opportunities with this entry than waiting for a pullback to the line/zone.

Hi There,
Something like this you mean, where the circle is?Z-Line.JPG

Yes precisely that. I'm in one right now on USDCHF, 1.5 pips away from tp.

OK, on the 15m here was it? Looks like a good catch.

ZLine2.png (5.55 KiB) Viewed 1693 times

Ignore my, post, didn't see your chart until now.

[Philthecat]

Hi There,
Something like this you mean, where the circle is?Z-Line.JPG

Yes precisely that. I'm in one right now on USDCHF, 1.5 pips away from tp.

OK, on the 15m here was it? Looks like a good catch.
ZLine2.png
Ignore my, post, didn't see your chart until now.

Basically that yes. Tp was hit. I find it really good for LTF entries and scalps.

[kiwiarian]

Yes precisely that. I'm in one right now on USDCHF, 1.5 pips away from tp.

OK, on the 15m here was it? Looks like a good catch.
ZLine2.png
Ignore my, post, didn't see your chart until now.

Basically that yes. Tp was hit. I find it really good for LTF entries and scalps.

Thanks for sharing, another one to add to the ammo box.

[prochargedmopar]

Was about to leave my son's house.
Sitting in the driveway in my truck on phone.

17 min later....... Using 1 mini.

Went home took a shower, then one last scalp before close of market.

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[prochargedmopar]

'Scuse me butting in but one thing I've noticed about 99.9recurring% of profitable zline trades;
is that they would have been profitable if they had been entered at the close of the momo bar with a SL past the opposite extreme.

More often than not, price does NOT retrace on the next bar or 10 and you can save yourself trying to figure out an entry based on Heisenberg's uncertainty principal. Sure, sometimes you will get a drawdown to the momo bar open and occasionally even stopped out, but there are exponentially more trading opportunities with this entry than waiting for a pullback to the line/zone.

Edit: I mean this for the entry candle. Entering at the end of a W1 candle would mean a stupid sixed SL. 5-15m candles - why bother to wait?

Yes, what does MO say? "If you know different, do different".
IF you can see when there is a close beyond something, go for it.

It can also be seen as a "pause before breakout" on lower timeframe's than what the MOMO occurred on.
You can get in when the MOMO bar is being formed on an even smaller timeframe.
OR, you can do like Dave Teaches and Say...." I AM THE LARGE CANDLE THAT IS FORMED LEAVING THE AREA" paraphrased.
He does this by price being in a "zone" and then setting up the same formation/candlestick pattern on the 5 sec chart.
He is IN ON THE WICK of the FIRST up close bar.

Anything is possible. Let's see what you got.

[prochargedmopar]

Hi There,
Something like this you mean, where the circle is?Z-Line.JPG

Yes precisely that. I'm in one right now on USDCHF, 1.5 pips away from tp.

OK, on the 15m here was it? Looks like a good catch.
ZLine2.png
Ignore my, post, didn't see your chart until now.

Closed candles are truth,
One stop out but a counter trend signal was given so would have reversed long before stop being hit. smaller loss.
Everything can be made to "work". Everything can be made to "fail".
Been looking at the momo closes for YEARS. Never got it to work for me. NOT ENOUGH BACKTESTING. hahahahaha (zero actually)

###misc2.jpg (50.67 KiB) Viewed 1648 times

[kiwiarian]

Yes precisely that. I'm in one right now on USDCHF, 1.5 pips away from tp.

OK, on the 15m here was it? Looks like a good catch.
ZLine2.png
Ignore my, post, didn't see your chart until now.

Closed candles are truth,
One stop out but a counter trend signal was given so would have reversed long before stop being hit. smaller loss.
Everything can be made to "work". Everything can be made to "fail".
Been looking at the momo closes for YEARS. Never got it to work for me. NOT ENOUGH BACKTESTING. hahahahaha (zero actually)

###misc2.jpg

Strong candle closes are what we are after.
Backtesting this is having a stop behind the momo candle........

[prochargedmopar]

One a day? Hmmmmmmmmmmmmmmmmmmmmmmmmmmmm
Scratching my bald head over here.

50 levels.
Trading in the middle.

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[prochargedmopar]

Missed entry by 2 points.

WHY? There is a reason.

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