The ideas that I trade by:

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Jalarupa
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Postby Jalarupa » Wed Jul 02, 2014 5:03 am

MightyOne wrote:
jmag4 wrote:...
I've been making my way through the NLA thread which was posted years ago, (on approximately page 550/750 currently) and was wondering if you think much has changed since this time. Where should I go once I complete reading TRO's original NLA thread? This thread?...



If you wish to emulate my trading style then you can read forward from here: http://kreslik.com/forums/viewtopic.php?p=76858#76858

You can get my indicators
here: http://kreslik.com/forums/viewtopic.php?p=76694#76694

What has changed? Everything has been simplified so there is no need to spend years reading and practicing; you can start making money right away.

If my style doesn't suit you then you might try
TRO's Wick Zones or dcHappy's "simple as 1-2-3" thread


MightyOne wrote:Your trading skills can be complete sht & you can still make a killing...
if you would value long term extremes above all else.

Image


Hey MO, I'm pondering this price action...

Lets call it a range at a point of a decisive market turn...

My question is what gives you confidence that price is basing>?

I'm looking at the EJ at the moment in simular format as you have outlined in your previous posts...

Image

It looks like the its basing... I guess my question is, how would you approach this (in other words am I doing it right?) and would you trade it?
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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jmag4
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Postby jmag4 » Wed Jul 02, 2014 1:32 pm

MightyOne wrote:
jmag4 wrote:Awesome, thanks so much.

Would you recommend I finish the rest of the 250 pages in the NLA thread before beginning this thread? Or skip to this thread or even the post you linked me to?


I would never tell someone to read through hundreds of pages, but I wouldn't stop them either :D

It is hard to answer you when I don't know what your goals are.

If you want to study trading then read tens of thousands of posts over several forums.

If you just want to make money then ask and someone will show you how =)


Well I really want to learn trading as I absolutely love studying the markets and I love trading but I would like to make some money along the way haha.

As far as goals, I was hoping to make something out of this. I just graduated Uni with a finance degree and I'm completely lost in what I want to do with my life and really stressing out when it comes to finding a job. Is trading a viable option or would you say it's just a pipe dream? Clearly you and many members have had great success but am I being naive believing I can make it just trading at such a young age with very little experience trading?

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MightyOne
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Postby MightyOne » Wed Jul 02, 2014 3:53 pm

Jala,
the question is often worth many times more than the answer.

If price is moving sideways then view the price action from a higher chart period.
Does it look like profit taking? Maybe it is.
Does it look like resistance? It is probably false.

Bodies show the way by pointing in the direction of profit.
Wicks show the way by pointing in the direction of loss.

My mind follows this pattern:

Position, size, size, position, THEN all the little things that I have learned over the years.

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Sandra
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Postby Sandra » Thu Jul 03, 2014 3:09 am

I want to make money!
30-50 pips a day.
How?
Thats why im back.....

:)

S

MightyOne wrote:
jmag4 wrote:Awesome, thanks so much.

Would you recommend I finish the rest of the 250 pages in the NLA thread before beginning this thread? Or skip to this thread or even the post you linked me to?


I would never tell someone to read through hundreds of pages, but I wouldn't stop them either :D

It is hard to answer you when I don't know what your goals are.

If you want to study trading then read tens of thousands of posts over several forums.

If you just want to make money then ask and someone will show you how =)

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Sandra
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Postby Sandra » Thu Jul 03, 2014 3:19 am

Averages? of what points?

High, low, 50 percent?
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Postby jmag4 » Thu Jul 03, 2014 4:12 am

So I've read from the post you linked me to MightyOne, and from what I understand, price moves a large amount of pips away from a large timeframe high/low. I still don't understand the whole increase in lots or multiple entries come from, but hopefully that will come with time. I also don't really understand how the indicators you linked me work but I'll try to figure them out later

Here is a trade I took before reading your posts and seem somewhat similar to the threads ideas. I took it because I knew we were at a high point in the high timeframes and there was a lot of held profits. Hopefully I don't embarass myself with these trades/ my posts but here we go:

Image

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Jalarupa
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Postby Jalarupa » Thu Jul 03, 2014 4:27 am

MightyOne wrote:Jala,
the question is often worth many times more than the answer.

If price is moving sideways then view the price action from a higher chart period.
Does it look like profit taking? Maybe it is.
Does it look like resistance? It is probably false.

Bodies show the way by pointing in the direction of profit.
Wicks show the way by pointing in the direction of loss.

My mind follows this pattern:

Position, size, size, position, THEN all the little things that I have learned over the years.


Thank MO I realize this more and more everyday, asking the questions is the first step.... So thank you

Just to clarify one point...

"If price is moving sideways then view the price action from a higher chart period."

Image

Trades within the blue zone on the H1 are the ones where we accumulate lot size and if we are correct, then we can go for higher time frame expansion (similar to what happens at the top of the range between 1.10 and 1.095)

Position Position Position Got it ;)
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

paweldobkowski
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Postby paweldobkowski » Thu Jul 03, 2014 9:20 am

jmag4 wrote:As far as goals, I was hoping to make something out of this. I just graduated Uni with a finance degree and I'm completely lost in what I want to do with my life and really stressing out when it comes to finding a job. Is trading a viable option or would you say it's just a pipe dream? Clearly you and many members have had great success but am I being naive believing I can make it just trading at such a young age with very little experience trading?


Well, if You just graduated (btw I have MS in economics - triple high five to each other and unemployment) You gonna need a job.

Trading profitably is completely achiveable but there will be sacrifices.
There's A LOT of s**t in front of You and I mean A LOT.
What's more important it takes time.
This is very competitive business and we are compiting against guys with 20 - 30 years of experience and millions of *put_currency_here*.
So in order to get some money You need to be at least very good.
Like with any other skill - sports, playing instruments etc. - it may take years of practise to get to that level.
In my opinion money is the last thing that You should be thinking about.

So in conclusion You need to at least like watching markets and have some kind of income to support yourself through quite some time.
And probably resign from Your personal life for a while.

OR

Be nice to MightyOne.
The legend says that on the first day of His trading He deposited $1000 and pyramided that s**t to 33 gazillions on single M1 candle.
So now He owns the markets and Your country and even Walmart. He can make quotes preferable for You (and give You a SWEET deal on instant mac and cheese mugs).

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MightyOne
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Postby MightyOne » Thu Jul 03, 2014 2:22 pm

What makes a strong trend? The likelihood of people making the wrong decision of course ;)

ZL/Resistance + TL break is so common it amazes me that people still fall for it:

Image

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MightyOne
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Postby MightyOne » Thu Jul 03, 2014 2:39 pm

Sandra wrote:Averages? of what points?

High, low, 50 percent?


The indicator is a 2xCC of a modified Heiken-Ashi.

The underlying HA opens at the 25% RET of the prev. HA's body and closes at the 25% ret of the body on the candle chart.

The 2xCC is a double chart (a chart and its shift).

Like the underlying chart the open is at the 25% ret of the CC body but unlike the underlying chart the CC closes where the underlying HA closes.

What this does is create a different perspective of the underlying chart rather than doubling the charts period.

Simply put, strong moves look stronger and weak moves look weaker so that you can more clearly interpret the price action.

I recommend that you turn the candles off, switch to a line chart, & set the line chart color to NONE.

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