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lukx zline trading log + cfabian p.35 + adaseb p.48

Posted: Mon Oct 26, 2009 5:59 am
by lukx
Ok I decided to put a log as many of you guys recommend me to do so I could see better what I'm doing wrong and how to fix it.
I will screen grab every trade I take, and then the outcome.

I'll be only looking at EURUSD, GBPUSD, EURJPY.
I'll be using only 4h and 1H time frame.

Posted: Mon Oct 26, 2009 6:00 am
by lukx
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Posted: Mon Oct 26, 2009 6:24 am
by Kenyuki
Hello lukx,

Good idea. Wish you much trading success!

Would you care sharing your method, money management and trading times (what session)?

Cheers,
Ken.

Posted: Mon Oct 26, 2009 6:46 am
by lukx
Method:
Zero lines:
Image
I look where am I at 4H (looking for momo at 4H, than for momo on 1H and then waiting for momo 1H to got zeroed and enter in direction on 4H)
For short MA got to slope down stoch in over bought area. Long opposite.

Trading times:
End of Tokyo, whole London, whole NY (so basically my whole day)

Money management:
trading 0.02 lots
SL at the top or bottom of 4H candle(depends if it;s for short or long of course) Usally around 20 pips.
TP next Zeroline, usally X4 of SL. Might jump off the boat when got x2 of SL.

Posted: Mon Oct 26, 2009 6:48 am
by Kenyuki
Cool thanks. Who's your broker lukx?

Posted: Mon Oct 26, 2009 6:53 am
by lukx
I'm using Oanda for orders, and Alpari for charting.

Posted: Mon Oct 26, 2009 8:03 am
by lukx
based what I watched here http://transcripts.fxstreet.com/2008/11 ... -is-r.html
I'm adding simple MA and Stoch to better see supply and demand. So trade long zl long when MA up stoch moving up from 20. Short opposite. So I'm closing my trade as soon as in profit because based on MA and stoch I should be looking for long and not short.


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Posted: Mon Oct 26, 2009 11:21 am
by lukx
second trade today:
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Posted: Mon Oct 26, 2009 12:08 pm
by lukx
well my entry at 1h wasn't too good, it move very close to SL.
I think it might be good to look at 5M for enters.
I could enter higher on 5m zl and already got 14 pips:
Image

Posted: Mon Oct 26, 2009 12:55 pm
by PTG
Trading log - very good ! :smt023

About the last trade: you jumped the gun. Wait for the CCI to go back through +100.

If you switch to H4, there is a stop and reverse situation.
Switch to H1; the H1 of 0700 (Alpari server time) was a momo; you could have placed an order on 1.6277 going long. target the highest point (in the this case the open) of the last momo bar in the run down (26 oct. 00:00). There were 29 pips in that setup (I haven't checked M5, could have been more).

My 0.02$ (not worth much these days... lol).

PS forgot to say that you don't want to sell into a demand zone. This may be the end of the run down; going short definitely needs a confirmation of the fact that there are no more buyers.