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The similarity system

  • #6,841
  • Aug 22, 2014 8:29am Aug 22, 2014 8:29am
Quoting ephisi
{quote} ars be careful, bulls are cooking something, above 75 we will see what bulls are cooking
cooking
  • #6,842
  • Aug 22, 2014 8:30am Aug 22, 2014 8:30am
Quoting TessiaFx
Ephisi - It is a live account.... have learnt a little about S & R but don't know anything about Elliot waves so that's about to change thanks : ) Vlady - Thanks for your perspective and recommended reading I will be reading up this weekend..... you are right I am finding emotion is part of this and something I need to master...I haven't changed any trades based on emotion but have to admit I end up feeling stressed when they are going in the wrong direction... Sorry for the delayed response I've got a 5yr old little boy had to go and fetch him...
sent you a personal message. check your inbox
  • #6,843
  • Aug 22, 2014 8:31am Aug 22, 2014 8:31am
Quoting vlady1974
{quote} That's the one! It's no longer a secret and it seems different when you read it because you're detached... but when you really do the thinking that he asks you to - if you are the kind of trader he is describing, then you'll know exactly what he's talking about. You just said it yourself about how it feels when it goes against you. Warning: it's not a trading strategy book. But it's so valuable in setting up the "way to think about the market and your role in it". Once you get this, then Eurusdd's material will become like mana from heaven....
will mail you later tonite mate. we are just 2hr time difference i think
  • #6,844
  • Aug 22, 2014 8:33am Aug 22, 2014 8:33am
Quoting ephisi
{quote} will mail you later tonite mate. we are just 2hr time difference i think
You're in Europe? Cool!
A pip is only worth it if you know how much you risked to earn it
  • #6,845
  • Aug 22, 2014 8:34am Aug 22, 2014 8:34am
Quoting TessiaFx
Vlady - Trading in the Zone by Mark Douglas?
Douglas may have written trading in the zone, but I am working on "Trading on The Phone"
  • #6,846
  • Aug 22, 2014 8:34am Aug 22, 2014 8:34am
Quoting ephisi
{quote} you got that right. thumbs up
But we still must return above 1.33 after that. And I mean fast. What do you think about it ?
It is going to be a very interesting evenning......
  • #6,847
  • Aug 22, 2014 8:37am Aug 22, 2014 8:37am
Quoting shiva
{quote} Douglas may have written trading in the zone, but I am working on "Trading on The Phone"
Mate, I can write 2 chapters on that puppie!
A pip is only worth it if you know how much you risked to earn it
  • #6,848
  • Aug 22, 2014 8:45am Aug 22, 2014 8:45am
Quoting vlady1974
{quote} Mate, I can write 2 chapters on that puppie!
Sure, guest authors welcome
  • #6,849
  • Aug 22, 2014 9:09am Aug 22, 2014 9:09am
[quote=hepsibah;7691875]{quote}

It should definitely go to 1.32816 today, probably fairly soon. However, there is a longer term problem lurking at 1.32488 so there is a chance it might take that out first. This could be a good place to open a hedge.


  • #6,850
  • Aug 22, 2014 9:12am Aug 22, 2014 9:12am
Quoting vlady1974
{quote} You're in Europe? Cool!
lol, nope Africa
  • #6,851
  • Aug 22, 2014 9:13am Aug 22, 2014 9:13am
Quoting feline207
{quote} But we still must return above 1.33 after that. And I mean fast. What do you think about it ? It is going to be a very interesting evenning......
i think mario draghi will take eurusd down
  • #6,852
  • Aug 22, 2014 9:20am Aug 22, 2014 9:20am
[quote=hepsibah;7692363]
Quoting hepsibah
{quote} It should definitely go to 1.32816 today, probably fairly soon. However, there is a longer term problem lurking at 1.32488 so there is a chance it might take that out first. This could be a good place to open a hedge.
Hi. Can you kindly please explain what you mean by: "... there is a longer term problem lurking at 1.32488."

I´ve been reading extensively everything posted about transient zones and would appreciate your input.

Thanks.
Observation is the path to discovery.
  • #6,853
  • Aug 22, 2014 9:25am Aug 22, 2014 9:25am
Quoting vlady1974
{quote} That's the one! It's no longer a secret and it seems different when you read it because you're detached... but when you really do the thinking that he asks you to - if you are the kind of trader he is describing, then you'll know exactly what he's talking about. You just said it yourself about how it feels when it goes against you. Warning: it's not a trading strategy book. But it's so valuable in setting up the "way to think about the market and your role in it". Once you get this, then Eurusdd's material will become like mana from heaven....
Those were the good old days
  • #6,854
  • Aug 22, 2014 9:27am Aug 22, 2014 9:27am
Quoting ephisi
{quote} i think mario draghi will take eurusd down
This can be happened, but some unfinished job must be done (other pairs are clearly). So, it will goes up first, before goes down fast, faster ...
  • #6,855
  • Aug 22, 2014 9:32am Aug 22, 2014 9:32am
I will careful thanks Ephisi ( or try to be) but that seems to be what is burning me to be honest EVERY trade I took today would have been a winning trade it my stops were bigger...... do any of you have an average SL in pips that you would recommend.....
Vlady - going to get myself a copy of that tomorrow
Shiva - Good luck ; )
  • #6,856
  • Aug 22, 2014 9:40am Aug 22, 2014 9:40am
Quoting ephisi
spot on . That is how religion and cults starts. They start to have faith in you then they follow and then they follow blindly {quote}
no man, this is not it. following blindly is not why did.
I just made the decision to give him some credit for 1 day, to see what happens - if he would have been right then I would have invested more time in understanding his method (nothing blindly here). this is what people do, or should do, normally: to show trust to people around them and let them show themselves they don't deserve it if the case.
is just that in this specific situation eurusdd's call was a big failure, and he didn't even bother to come back in due time to deal with it - at least as far as I know. so things are clear about him based on facts.
in other order of ideas, I believe you rushed into conclusions too soon. what you said has nothing to do with my specific case.

good luck with your trading!
  • #6,857
  • Aug 22, 2014 9:43am Aug 22, 2014 9:43am
[quote=Alorente;7692413]
Quoting hepsibah
{quote} Hi. Can you kindly please explain what you mean by: "... there is a longer term problem lurking at 1.32488." I´ve been reading extensively everything posted about transient zones and would appreciate your input. Thanks.
I am using only transient zones on my chart now and have found a way to use them that identifies prices that will be returned to. In the main, the price will be returned to very quickly and these occur all the time on all timeframes and are great for scalping, although sometimes they retrace too quickly to cover the spread. There is a special setup however where price is unlikely to return to for some time, if at all, and it was one of these that I had marked at 1.32488. I don't trade those as a rule but I like to know where they are.

There are many ways to trade the TZ's but I am content I have found one that seems to work for me. I followed this thread from its inception and am a great fan but found some of the earlier methods I used for identifying dissimilarity produced levels that took too long to return to (there's still one outstanding from 6 Sep last year - we may get there soon!). So far, this method is holding up well and gets me in and out quickly.

I am not going to spell out exactly what I do but will give you some massive hints:

1. observe exactly what happens immediately after price takes out a previously formed TZ. Especially where the next TZ is formed
2. wait for the TZ to complete before entering (I use a small h by the way) - many will have already invalidated the trade by then but it is better than anticipating and being wrong. There are lots and lots of opportunities.
3. if a TZ is taken out by a mid bar TZ leave it alone and move on

Eurusdd may be displeased at giving so much away but most people don't really read the posts anyway.
Good luck
  • #6,858
  • Aug 22, 2014 9:45am Aug 22, 2014 9:45am
Quoting hepsibah
Quoting Alorente
{quote} I am using only transient zones on my chart now and have found a way to use them that identifies prices that will be returned to. In the main, the price will be returned to very quickly and these occur all the time on all timeframes and are great for scalping, although sometimes they retrace too quickly to cover the spread. There is a special setup however where price is unlikely to return to for some time, if at all, and it was one of these that I had marked at 1.32488. I don't trade those as a rule but I like to
...
Thanks for your insights.
Pivot Boss in the making~
  • #6,859
  • Aug 22, 2014 9:46am Aug 22, 2014 9:46am
london bridge is falling down falling down falling down we just had a 4hr TRZ short setup, expect her to run some more
  • #6,860
  • Aug 22, 2014 9:50am Aug 22, 2014 9:50am
Quoting dragos_
{quote} no man, this is not it. following blindly is not why did. I just made the decision to give him some credit for 1 day, to see what happens - if he would have been right then I would have invested more time in understanding his method (nothing blindly here). this is what people do, or should do, normally: to show trust to people around them and let them show themselves they don't deserve it if the case. is just that in this specific situation eurusdd's call was a big failure, and he didn't even bother to come back in due time to deal with...

its ok bro, i understand and accepth your explanation but the truth is this . the fact that he made one wrong call does not mean his method does not work. it works perfectly. the system works , the trader may make a mistake applying the system.common one loss isnt enuf to discard the system
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