"The Best of dragon33"

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Jalarupa
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Postby Jalarupa » Mon Jun 16, 2014 2:56 pm

Good Day for Slaying Dragons...

(sorry just finished watching GoT)

Image

Image

Image

Blue lines are H1 and Black are H4... I'm sure you can see the opportunity...
:smt065

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Postby judokamak » Mon Jun 16, 2014 3:45 pm

My entry:
Another posibility was 3h before this one on that wicked 15m z line



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Postby xXx » Mon Jun 16, 2014 4:11 pm

What is a Zero Line?

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Captain Pugwash
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Postby Captain Pugwash » Mon Jun 16, 2014 6:41 pm

xXx wrote:What is a Zero Line?


I just googled "zero line kreslik" and got this as the first resultpage

I'm sure you will find others - there is some good advice on that page, as well as the chart from Mo helps

Good luck

Edit - added a comma!
Last edited by Captain Pugwash on Mon Jun 16, 2014 8:18 pm, 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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xXx
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Postby xXx » Mon Jun 16, 2014 6:51 pm

Thanks CP
If possible could we make this thread a beginners bay? 8)
Where all the best concepts are explained at the very beginning?

The Zero Line is a



MightyOne wrote:I have millions of pictures on my computer from all the e-mails I respond to.

Here is one of them:

Image

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Postby aliassmith » Mon Jun 16, 2014 8:47 pm

xXx wrote:Thanks CP
If possible could we make this thread a beginners bay? 8)
Where all the best concepts are explained at the very beginning?

The Zero Line is a



MightyOne wrote:I have millions of pictures on my computer from all the e-mails I respond to.

Here is one of them:

Image


A zero line is a line or area where traders give back their profits
From their current trade.
Trade Your Way as Long as It Makes Money!

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Postby Captain Pugwash » Tue Jun 17, 2014 8:29 am

OK - a better answer than my earlier lazy cut and pasting would be :D

ONE Example of a Zline would be (but please note, it is any pa that would encourage a zline to be formed)



Imagine price is basing (just moving in a little a tennis court between a and b {up a bit - down a bit})

This PA would draw certain traders eye to the possibility of price breaking out north or south.

Lets say price breaks out south - these guys SELL
If they are sellers on the breakout, they have their BUY stops all over the place. (to close a sell you buy, whether for a profit or a loss - you buy)

Price moves down over the next few hours (or mins)

Some of these traders do not take profit where they should*


Price inevitably turns north - the further north price travels the more panicky the short breakout traders get. ( they think " I should have got out" maybe it will turn south again - here - here or here"

The closer price gets to their entry - Their trading psychology is such that they all move their BUY stops into the same place - the original breakout, or a handy pointy place near enough to draw their eye to put their BUY stop.

Now the market has engineered a scenario where thousands of traders are willing to BUY IN THE EXACT SAME PLACE where they should be selling - so the pro's SELL into those BUYS (importantly, the market don't move much as there may be enough buyers to fulfil the sellers needs - so the seller get the best price, rather than each order pushing the market lower to find willing buyers)

Price returns to the breakout - at the original breakout, traders bail out with their BUY stops (or is that bye ;-) ) to the pros who want to sell



* So where should they have taken their profit - from the guys who made there own Zline to trade north - try to get into their skins to feel their anxiety




Or, to put it simply

As Aliassmith posted so eloquently

"A zero line is a line or area where traders give back their profits
From their current trade."
"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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withnail
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Postby withnail » Tue Jun 17, 2014 6:11 pm

Z-line and held profit example:-
Attachments
zline-ag.gif
zline-ag.gif (215.29 KiB) Viewed 5368 times
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.

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xXx
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Postby xXx » Tue Jun 17, 2014 9:30 pm

What is our target?
Line 1, line 2 or beyond line 1?
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2014-06-17 22_26_18-kreslik.com - Traders Community __ View topic - _The Best of dragon33_.jpg
2014-06-17 22_26_18-kreslik.com - Traders Community __ View topic - _The Best of dragon33_.jpg (165.63 KiB) Viewed 5362 times

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Jalarupa
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Postby Jalarupa » Wed Jun 18, 2014 3:56 am

xXx in the above classy live trade animation

Both levels are areas where price "could" end up due to there being a BASE - as in Drop Base Drop or Rally Base Drop... These are areas of Supply, which means they are areas where there was an imbalance or order flow, which caused price to drop (in this case) very quickly from the Base Levels... This Imbalance still leaves many sell orders unfilled and price likes to get back and fill those orders... The flip side is that the traders who traded the breakout will get ZLINED as price moves upwards to their entry level taking them out at a trailing stop or breakeven, this happens in quick succession as price makes the move back to the origin of the breakout (base level)

As you can see withnail traded a Zline (price returning to the origin of the breakout) into a level where a cluster off sell orders are sitting...

Where you hold to is up to you as a trader, both levels are areas where price could go to (I have said this before) and obviously the upper level is going to take a bit of work... and its up to you and your strategy of risk / reward. This is where Space and position sizing come into the game, (you could take half a position off at level 2, bank some profit and inflate your space cushion) as price may come back to the area of your entry (and zero line you) unless you are comfortable in your idea that price will not move lower than the low you are trading off of.

I hope this makes sense... I understand you have a language barrier to overcome.
:smt065

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