The idea's we trade by, so we never lose again. p2. The students become the masters

[Mr. Hyde]

This was a most excellent thread by v8power. I felt the sincerity, gratitude and longing to give back what he learned from the giants of this forum. I would venture to say that in doing so he joined that league and should be part of the furniture here.

So, find momentum reversing off an extreme point, determine a logical retracement against said momentum (zline), if/when price hits that zline, consider entry in the direction of original momentum.

Did I just sum up the method discussed here?

If so, the question is: what would actually trigger a trade execution? I do believe that MO has said that any one of TRO's methods are good for getting that entry. In that case, on a smaller timeframe, see red -> sell OR see green -> buy.

We are to expect that doing this consistently will give us the edge we need in the markets in order to make profit.

V8 was a great trader, he hadn’t fear of the loss.
Even when it was about posting live trades here: he didn’t give a damn about the other people judge.

I knew V8 just a little but I feel a big loss when I think about him.

Oh yes, I recall he's no longer with us. The posts he left give a sense of the type of character he was. "Pedal to the metal" springs to mind.

Haha, never thought I would see this thread get posted in again.

Yes if you do this consistently you will blow away all your losses, especially if you add on to the trades. Here is a an example.

gbpjpy-d1-oanda-division1.png (47.79 KiB) Viewed 2670 times

gbpjpy-h4-oanda-division1.png (43.75 KiB) Viewed 2670 times

V8 was all about simplicity. You could have done the same on E/J. His other fav's were 123', which there was already on the G/U and E/A this year just to mention a few. You don't need a million trades. Wait for the trade it is so obvious that it looks like a set up they would put in a book as an example. Depending on your MM just off this 4 trades you could have easily made 100%-1000% and be done trading for the year. Best of luck and welcome.

Mira, V8 very much enjoyed your charts and posts.

"Pedal to the metal". Yea that is an understatement. Haha

[PhilipLangford]

V8 was a great trader, he hadn’t fear of the loss.
Even when it was about posting live trades here: he didn’t give a damn about the other people judge.

I knew V8 just a little but I feel a big loss when I think about him.

Oh yes, I recall he's no longer with us. The posts he left give a sense of the type of character he was. "Pedal to the metal" springs to mind.

Haha, never thought I would see this thread get posted in again.

Yes if you do this consistently you will blow away all your losses, especially if you add on to the trades. Here is a an example.

gbpjpy-d1-oanda-division1.png
gbpjpy-h4-oanda-division1.png

V8 was all about simplicity. You could have done the same on E/J. His other fav's were 123', which there was already on the G/U and E/A this year just to mention a few. You don't need a million trades. Wait for the trade it is so obvious that it looks like a set up they would put in a book as an example. Depending on your MM just off this 4 trades you could have easily made 100%-1000% and be done trading for the year. Best of luck and welcome.

Mira, V8 very much enjoyed your charts and posts.

"Pedal to the metal". Yea that is an understatement. Haha

Thanks Mr.Hyde

Just to get it straight in my noggin:
That magenta zline on the H4 chart is an area of "fuzzy logic" for me (I'm sure others too). Does it just come down to personal preference on how to enter the trade from there?
There are mutiple options.
One could place a limit order on the zline itself. Wait for price to go through the zline then come back to it. Wait for momo on a lower TF and a zline on that (recursively wondering where to enter again). Pull the trigger at the next psych line. Use a buy zone from the zline. Wait for a candle to close, etc, etc.
I suppose it doesn't matter at the end of the day, but life is short. What is empirically the best entry method zliners have come across?

[Mr. Hyde]

Oh yes, I recall he's no longer with us. The posts he left give a sense of the type of character he was. "Pedal to the metal" springs to mind.

Haha, never thought I would see this thread get posted in again.

Yes if you do this consistently you will blow away all your losses, especially if you add on to the trades. Here is a an example.

gbpjpy-d1-oanda-division1.png
gbpjpy-h4-oanda-division1.png

V8 was all about simplicity. You could have done the same on E/J. His other fav's were 123', which there was already on the G/U and E/A this year just to mention a few. You don't need a million trades. Wait for the trade it is so obvious that it looks like a set up they would put in a book as an example. Depending on your MM just off this 4 trades you could have easily made 100%-1000% and be done trading for the year. Best of luck and welcome.

Mira, V8 very much enjoyed your charts and posts.

"Pedal to the metal". Yea that is an understatement. Haha

Thanks Mr.Hyde

Just to get it straight in my noggin:
That magenta zline on the H4 chart is an area of "fuzzy logic" for me (I'm sure others too). Does it just come down to personal preference on how to enter the trade from there?
There are mutiple options.
One could place a limit order on the zline itself. Wait for price to go through the zline then come back to it. Wait for momo on a lower TF and a zline on that (recursively wondering where to enter again). Pull the trigger at the next psych line. Use a buy zone from the zline. Wait for a candle to close, etc, etc.
I suppose it doesn't matter at the end of the day, but life is short. What is empirically the best entry method zliners have come across?

It all comes down to personal prefence for how to enter the trade. You could use a limit with a bigger stop to get on your 1st position and then add positions. You could use the rat entry, blind mouse cc rat entry, candle stick patter, doji momo box, 15m BDP/Wick doll, 123 or whatever else you can think of.

[Mr. Hyde]

This chart shows a lot of the options for entry you could have done. There is the resistance line that price could not close over. Then you have a 1hr momo bar down, with a retrace, then a dark cloud candlestick pattern. You could sell when price breaks its low (there would also be a cc rat entry in there), there is a 123 with a TTE. Also a retest of the 2. Could have done a BZ entry after that dark cloud candle.

For me I would exit either 1/3-2/3 of my entry at the next 1hr zline. Next exit would be the crash zone. Or if you noticed EA is up over 2,000 pips from its low last year. The daily is in a trading ranging and if you would have taken that sell you would have a SL that is above the DWMY highs. So why not risk a 1/3 of your entry for a 1,000-2,000 pip gain. My entry was at 1.5775 with a sl at 1.5810 so a 35 pip sl. The RR could be upwards of 60 to 1 on that last part of the trade. The only thing that worries me is that on the 4hr there was a tri that price has broke and is now testing the backside. If that triangle fails, it would give me more confidence that EA is going down and would start looking for add ons.

Ignore the ML. That is just from a 1hr trade I took yester day. Made 150 pips off of it. Gave me a bunch of OPM which made the trade today even easier for me to take and not care if it doesn't work. Also when taking a yearly extreme trade with a small SL like this I will always check to see if there is any news coming up. If there is and price is with in 100 pips of my sl, I will use some more OPM to widen it,just to make sure I don't get taken out by a news spike. (next MOnday there is a bunch of news so I will keep an eye on it).

euraud-m15-oanda-division1.png (50.29 KiB) Viewed 2610 times

euraud-h4-oanda-division1.png (44.73 KiB) Viewed 2610 times

[prochargedmopar]

Haha, never thought I would see this thread get posted in again.



Mira, V8 very much enjoyed your charts and posts.

"Pedal to the metal". Yea that is an understatement. Haha

Thanks Mr.Hyde

J

It all comes down to personal prefence for how to enter the trade. You could use a limit with a bigger stop to get on your 1st position and then add positions. You could use the rat entry, blind mouse cc rat entry, candle stick patter, doji momo box, 15m BDP/Wick doll, 123 or whatever else you can think of.

Yeah,
I don't think V8 was much into bigger stops. LOL

[prochargedmopar]

This chart shows a lot of the options for entry you could have done. There is the resistance line that price could not close over. Then you have a 1hr momo bar down, with a retrace, then a dark cloud candlestick pattern. You could sell when price breaks its low (there would also be a cc rat entry in there), there is a 123 with a TTE. Also a retest of the 2. Could have done a BZ entry after that dark cloud candle.

For me I would exit either 1/3-2/3 of my entry at the next 1hr zline. Next exit would be the crash zone. Or if you noticed EA is up over 2,000 pips from its low last year. The daily is in a trading ranging and if you would have taken that sell you would have a SL that is above the DWMY highs. So why not risk a 1/3 of your entry for a 1,000-2,000 pip gain. My entry was at 1.5775 with a sl at 1.5810 so a 35 pip sl. The RR could be upwards of 60 to 1 on that last part of the trade. The only thing that worries me is that on the 4hr there was a tri that price has broke and is now testing the backside. If that triangle fails, it would give me more confidence that EA is going down and would start looking for add ons.

Ignore the ML. That is just from a 1hr trade I took yester day. Made 150 pips off of it. Gave me a bunch of OPM which made the trade today even easier for me to take and not care if it doesn't work. Also when taking a yearly extreme trade with a small SL like this I will always check to see if there is any news coming up. If there is and price is with in 100 pips of my sl, I will use some more OPM to widen it,just to make sure I don't get taken out by a news spike. (next MOnday there is a bunch of news so I will keep an eye on it).

euraud-m15-oanda-division1.pngeuraud-h4-oanda-division1.png

That's more like it.
Thanks for this write up.

[Mr. Hyde]

Thanks Mr.Hyde

J

It all comes down to personal prefence for how to enter the trade. You could use a limit with a bigger stop to get on your 1st position and then add positions. You could use the rat entry, blind mouse cc rat entry, candle stick patter, doji momo box, 15m BDP/Wick doll, 123 or whatever else you can think of.

Yeah,
I don't think V8 was much into bigger stops. LOL

A bigger stop would be like 50-100. But that was only used when a)wasn't able to take the trade in real time and just put a limit order out, 2) was to get an initial position on and then add to it, bring the stop closer.

But you are correct v8 almost never used big stops. He looked at it like this. Lets say you are risking 1% over 30 pips with a profit of 90 pips on the trade. You made 3%. Or you could risk 1% over 10 pips lose 3 times and win on the fourth the same 90 pips. You now just made double what you did with the bigger stop. This was just and extreme example to get the idea acroos. On average his stops were 10-20 with 30 being the highest most the time.

[Mr. Hyde]

This chart shows a lot of the options for entry you could have done. There is the resistance line that price could not close over. Then you have a 1hr momo bar down, with a retrace, then a dark cloud candlestick pattern. You could sell when price breaks its low (there would also be a cc rat entry in there), there is a 123 with a TTE. Also a retest of the 2. Could have done a BZ entry after that dark cloud candle.

For me I would exit either 1/3-2/3 of my entry at the next 1hr zline. Next exit would be the crash zone. Or if you noticed EA is up over 2,000 pips from its low last year. The daily is in a trading ranging and if you would have taken that sell you would have a SL that is above the DWMY highs. So why not risk a 1/3 of your entry for a 1,000-2,000 pip gain. My entry was at 1.5775 with a sl at 1.5810 so a 35 pip sl. The RR could be upwards of 60 to 1 on that last part of the trade. The only thing that worries me is that on the 4hr there was a tri that price has broke and is now testing the backside. If that triangle fails, it would give me more confidence that EA is going down and would start looking for add ons.

Ignore the ML. That is just from a 1hr trade I took yester day. Made 150 pips off of it. Gave me a bunch of OPM which made the trade today even easier for me to take and not care if it doesn't work. Also when taking a yearly extreme trade with a small SL like this I will always check to see if there is any news coming up. If there is and price is with in 100 pips of my sl, I will use some more OPM to widen it,just to make sure I don't get taken out by a news spike. (next MOnday there is a bunch of news so I will keep an eye on it).

euraud-m15-oanda-division1.pngeuraud-h4-oanda-division1.png

That's more like it.
Thanks for this write up.

Your welcome Pro. Anytime.

[Mr. Hyde]

Update on the EA. Price bounced up right at the 1hr zline and back of the tri. Now it is retesting the 2 point/resistance. Looking for it to not close above that line. If it does the likely the triangle wont fail meaning we would likely take out the highs. If that were to happen we would likely see a big burst to the upside and a continuation of the trend. For that reason and did take a long at 1.5725. I have no problem with hedging in situations like this if I feel the RR is just to good.

[Mr. Hyde]

You cant tell me that the crash zone isn't the greatest thing since slice bread. Look how it lines up with the target of the triangle setup. Freakin perfect. That's the kind of confluence that's builds your account. 1st entry was simple support turned resistance, next was a 4hr momo play, 3rd was break of triangle, 4th was support turned resistance. Over a 1,000 pips. Easily could have doubled or tripled your account in a week or 2. Keep it simple guys and wait for the easy setups.

gbpjpy-h4-oanda-division1.png1.png (40 KiB) Viewed 2587 times