Instead of cluttering MO's "IDEAS" thread I figured I would start my own.
Anyways I love trading and read a lot about it, but Kreslik.com is my favorite Forum and I wanted to discuss how I implement MO-isms and some other ideas. No other place better than here to do that.
aliassmith wrote: -------------------------------------------------------------------------- The MARKET exists to eliminate PROFIT in ALL timeframes!
BAM!
There you have it the fundamental foundation of what is yet to come.
So, Alias - would it be fair to say, that before you take any position in the market, you look at the chart, and then, before clicking the "GO" button --you ask yourself this question -
"WHO's PROFIT am I taking"
This looks like it's gonna be another interesting thread
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
aliassmith wrote: -------------------------------------------------------------------------- The MARKET exists to eliminate PROFIT in ALL timeframes!
BAM!
There you have it the fundamental foundation of what is yet to come.
So, Alias - would it be fair to say, that before you take any position in the market, you look at the chart, and then, before clicking the "GO" button --you ask yourself this question -
"WHO's PROFIT am I taking"
This looks like it's gonna be another interesting thread
I don't think I actually ask that.
I look for HT ZL (areas) that haven't been took out and ask how can
I take advantage of it.
Just because there is a ZL doesn't mean you should trade it << MO said
something to that affect.
"Every time I try to explain it it only comes out of my mouth as a riddle "
You don't say?
When their mind is ready they will see clearly
'Those who search will understand, but those who hear will be confounded'
And the quote goes:
"You shouldn't take a trade just because you can make a profit"
If you understand that if you hold a position at a large chart's extreme that you hold the potential of that chart then why would you ignore the extreme when taking a short term trade? Why would you risk the same amount of money on weak positions as you do on strong positions? Why not only take risks from strong positions?
When you are playing OMAHA poker you might have the same hand as your opponent but also have a draw to a larger hand; this is called 'free rolling the villain'. Likewise in trading you want to have short term trades that might be similar to the holdings of the other market participants but with 'draws' to something larger.
Now the market is eliminating profits and we have Zero Lines.
A zero line is a horizontal line or area where you believe other traders are still sitting with profit.
---------------------------------------------------
MO gem:
"Zero Lines do not signal trades!
Their purpose is to determine direction and areas where there is a low chance of draw down. "
---------------------------------------------------
A ZL can create a form of S/R and as any good trader knows, you trade
long from Support and short from Resistance.
A ZL also seems to create that Support becomes Resistance affect and vise
versa.
So far that is how the MO-isms are put together in my mind.
"Every time I try to explain it it only comes out of my mouth as a riddle "
You don't say?
When their mind is ready they will see clearly
'Those who search will understand, but those who hear will be confounded'
And the quote goes:
"You shouldn't take a trade just because you can make a profit"
If you understand that if you hold a position at a large chart's extreme that you hold the potential of that chart then why would you ignore the extreme when taking a short term trade? Why would you risk the same amount of money on weak positions as you do on strong positions? Why not only take risks from strong positions?
When you are playing OMAHA poker you might have the same hand as your opponent but also have a draw to a larger hand; this is called 'free rolling the villain'. Likewise in trading you want to have short term trades that might be similar to the holdings of the other market participants but with 'draws' to something larger.
Interesting Fact:
At first I didn't learn ZL ideas from MO. The went off while seeing
what zapzinig was doing on H1 GBP/USD charts
"
went off while seeing
