PhilipLangford wrote:Mira wrote:PhilipLangford wrote: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.
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