Yeah, I see that, absolutely. An H4 RB overcomes an H4 RB and the entry is as late as that because the red H4 RB cannot be formed until the subsequent down H4 bar - and your entry is exactly where I'd expect it to be on that basis.
Even if the stop was above the H1, unless that trade is subsequently managed on an even smaller TF...MO "no b/e", there is no moving of stops to b/e, you get zero'd. Price didn't go to the zline further down already zero'd so that wasn't reason to get out either... beats me
I have most of the bits in my toolbox. It's managing to fit them together.
Other traders on Kreslik seem to make magnificent structures.
I'm still left with a pile of bits.
Maybe I have too many bits, or disguarded bits that others don't have in their toolboxes. Maybe my toolbox is too big. Maybe I just have no comprehension which bit fits to which bit and what to do when it doesn't fit/
dojirock wrote:Break of a 15 min RB....tells me momentum has shifted short...... Now I put on my red rat sneakers..... Mark only Blue/White colorchanges. (zlines) Ask myself...what does price do around those zlines?
4 stacks...
doji
OK. That's getting clearer.
This is how to explain things to people in simple terms
1. Definition of rb
2. Definition of momo
3. Definition of Dragon Line /zline
For short trade
4. Observe m15 chart
5. See Green 'up' rb
6. M15 momo bar breaks low of 5 rb
7. Drop to M5 chart
8. Note Dragon line at bottom of broken RB
9. Enter on low break of M5 bar breaking the Dragon line???
10. Or is it 5 minute green bar closes below Dragon line and enter???
11. Or is it Enter when price hits the Dragon line?
12. Or is it.....price retraces to Dragon line, then 5 minute red bar closes then enter???
13. Continue adding positions re above criterion
14. Exit when???
And then....is the M15 RB fail looked for just whenever it occurs or is it married to higher tf supdem or RBs?
Thanks for your infinite patience Doji. hopefully once I get the hang of this finally I'll be able to help other people with it too.
I can count the number of times on one hand that I look at a weekly or daily chart. Im not a long term trader. I will look rarely at a 4hour. I trade hourly for bias and ANY time frame less for bias and or entry.
Learn to crawl before you run. You seem to really like TRO. Listen to what he says, "Don't Be A Yalie" Trade one direction until your making money. This is key. It is alot less overwhelming and you will build confidence, learn to take small losses and work on letting the winners run more than the losses.
The H4 example you speak of that I took, I closed. Why, because it drives me nuts to hold trades all week. Im not that kind of trader. If I was I would still be short on that E/J, there has been no stop out.
Pick one way to find a bias, dont change it till your making money.
There are many ways to do it...Taught here at KR
Lines, indicators, flip a coin. It doesnt matter. Im serious about that.
Then determine what your entry method is going to be. Keep it simple.
It can be a ema pullback, a ma cross, a zline wick, a rat trade, a breakout, a Dragon line, ect. BUT ONLY in ONE DIRECTION, MATCHING YOUR BIAS.
Then learn to take the pips when they are given, there will be more trades.
Dont let a winner, based on your own criteria turn to a loss.
Many times when I post these 100 pip gains, it because I dont follow the trade. Im up 10-20 pips, I set to B/E and go to bed. I wake up with price in my favor, then I close it. Do I care if it ends up being a B/E. NO...ITs not a LOSS. Im probably most defined as as swing, scalper trader. This Zebra hasnt learned how to change his stripes! So now I concetrate on larger lot sizes, hit my goals. Over acheiving my daily goals, bankrolls my next days goal which reduces pressure.
doji
It always takes Momentum to break Momentum! "A small loss is just as satisfying as a large gain" -MO "Sometimes we need to stop learning and start thinking...." "Once you stack, you'll never go back!"
I see you just posted a chart, Do the above, then you tell me. In every trade you take keep it the same. You need to do this to develop a pattern. It may get you to breakeven, it may make you profitable. You 1st need to determine that. Forget stacking. No stacking until your profitable.
Again I find myself looking thru my MO material, there was a pic that helped me in a crazy way define what is going on as far as taking one direction and drawing the lines all the same way. Then just waiting for that setup.
I will post if I can find it. Im a couple harddrives later since I saved that pic.
But it is here somewhere on KR.
Did you determine your daily, or weekly goal yet. You need to know what your goal is to work towards it. (more than just be profitable) lol
doji
It always takes Momentum to break Momentum! "A small loss is just as satisfying as a large gain" -MO "Sometimes we need to stop learning and start thinking...." "Once you stack, you'll never go back!"
It always takes Momentum to break Momentum! "A small loss is just as satisfying as a large gain" -MO "Sometimes we need to stop learning and start thinking...." "Once you stack, you'll never go back!"
It always takes Momentum to break Momentum! "A small loss is just as satisfying as a large gain" -MO "Sometimes we need to stop learning and start thinking...." "Once you stack, you'll never go back!"
