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profitable Zigzag

  • #341
  • Edited 2:41am Feb 3, 2015 2:28am | Edited 2:41am
Just popped out to grab breakfast and it looks like I might have missed an entry long on Cable. I may still enter at a very preferential point with a much shorter SL? Done. See below:

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 28 KB


Update . Already out having hit my altered TP +1%. Better not to be greedy. Just get the job done.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD1M5.png Size: 29 KB
  • #342
  • Edited 3:59am Feb 3, 2015 2:45am | Edited 3:59am
Long on Aud:

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5.png Size: 29 KB


Dont like the way this pair is moving against other US crosses. Have moved SL to BE

Update. out at BE

Really difficult to trade any of the pairs right now as there is no pattern/trend on the M5 tf other than possibly the yen but there has not been an entry so far this morning there!
  • #343
  • Edited 4:21am Feb 3, 2015 4:04am | Edited 4:21am
Another entry long for Aud:

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5.png Size: 29 KB


Update: Just don't like the feel of the market right now. I have closed the Aud position (on reflection the early morning move there has probably affected all of todays trades). I have also entered long on cable but have also come out of that just above BE. Will look again this afternoon.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD1M5.png Size: 33 KB
  • #344
  • Feb 3, 2015 5:44am Feb 3, 2015 5:44am
Hi shoot
I'm still watching your trades, great work there, are you a full time trader?

When you have an arrow and an arrow below I still struggle to understand what makes you trade in one direction and not the other?

Martin
  • #345
  • Feb 3, 2015 7:37am Feb 3, 2015 7:37am
Quoting ukmartin
Hi shoot I'm still watching your trades, great work there, are you a full time trader? When you have an arrow and an arrow below I still struggle to understand what makes you trade in one direction and not the other? Martin
Not sure i have your point Martin. Is it around why I don't join an existing set of arrows in one direction if i didn't get the first setup?

Let me answer that question just in case it is: We are looking for momentum in a direction and looking to join it once established. that means that in a number of situations by the time we get an entry signal the momentum may well be starting to wain already (good for 10-15 pips but not necessarily a lot more). For this reason I only join the first setup. If the nature of the following candles is strong (i believe momentum is still there) I will only close 50% of my position at TP1, move SL to BE and let the remainder run a little longer.

However in any trend we get pullbacks which break up the tidy move up or down. they are normally only profit taking and a pause before the trend continues (boy would i like to see a decent higher Tf trend right now!). My clue that the pull back has run out of steam and a new round of action in the trend direction is about to continue is to see an arrow form in the opposite direction to the trend. That is why I say I only start trading in the opposite direction to the previous arrow.

Sorry bit verbose there. if I am still not explaining myself clearly do say....especially if i didn't answer your question.

PS i am nearly full time and have been trading for 10 years+
PPS a lot of rules i setup for myself are about discipline more than catching the extra pip or two. I need rules for myself as i am prone to cheat if I don't have them.
  • #346
  • Feb 3, 2015 7:42am Feb 3, 2015 7:42am
Missed the euro trade long at 10 minutes after NYO. happened too fast for me.
  • #347
  • Feb 3, 2015 8:56am Feb 3, 2015 8:56am
Thanks for your explanation, You must think I'm a real thicko, but for some reason I'm having real problems getting the logic of your trading.

Let me see if I have this correct, if you get a green arrow you wait for a smaller arrow pointing down and then enter long when the trend magic is blue and vertical?
  • #348
  • Feb 3, 2015 11:54am Feb 3, 2015 11:54am
Quoting ukmartin
Thanks for your explanation, You must think I'm a real thicko, but for some reason I'm having real problems getting the logic of your trading. Let me see if I have this correct, if you get a green arrow you wait for a smaller arrow pointing down and then enter long when the trend magic is blue and vertical?
Thankfully No Martin. . lets look at an example below:

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5.png Size: 28 KB


Ok look for the numbers on the chart.

No1. Here are a green and yellow arrow that never resulted in a short trade because the Trend magic line above remained blue and horizontal (not red and did not bend down). this potential trade did fulfill the primary requirement that the arrow before it was in the opposite direction (red arrow at No 2).

Mmarket now reverses again in the opposite direction, long. To enter a long trade, again we need the previous arrows to be in the opposite direction, which they are (green and yellow arrows at No 1.). next we need new red/orange arrows to form and once they form we need the trend magic line to be blue and bending up from the horizontal, which it finally does when price reaches No 3. (see the bend in the trend magic line at No 4). Sl is below the previous horizontal trend magic line (at least 10 pips away or I go to the further horizontal ). TP is the same distance from entry as SL but in the opposite direction.
  • #349
  • Edited 2:09pm Feb 3, 2015 12:40pm | Edited 2:09pm
Hello shoot2scoot, please I want you to help me, I am unable to setup chart as you are posting here Nš1 it shows half light green and half white Nš2 candle are narrow and long on chart if you can post template will be great help

Thank you

Regards,
Moti
  • #350
  • Edited 1:34pm Feb 3, 2015 1:22pm | Edited 1:34pm
Quoting Motiram
Hello shoot2scoot, please I want you to help me, I am unable to setup chart as you are posting here Nš1one it shows half light green and half white Nš2 candle are narrow and long on chart if you can post template will be great help Thank you Regards, Moti Note: I am posting chart just you to see the difference mine with yours as I have 24 time to edit I will remove the chart as you replay me not to create confusions. {image}
Hi Moti for the chart colour you need an indi I use to set my trading times. It is below. the candle shape is down to the shape of your chart. if you make your chart taller than it is wide the candles will look more like mine. i will load the template but you obviously need the indi loaded first. Also depending on the GMT you are in yuo may need to alter the indi settings. good luck



Attached File(s)
File Type: ex4 i-ParamonWorkTime.ex4   14 KB | 489 downloads


Attached File(s)
File Type: tpl Zigzag.tpl   16 KB | 467 downloads
  • #351
  • Feb 3, 2015 2:09pm Feb 3, 2015 2:09pm
Quoting shoot2scoot
{quote} Hi Moti for the chart colour you need an indi I use to set my trading times. It is below. the candle shape is down to the shape of your chart. if you make your chart taller than it is wide the candles will look more like mine. i will load the template but you obviously need the indi loaded first. Also depending on the GMT you are in yuo may need to alter the indi settings. good luck {file} {file}
Thank you shoot2scoot , for your kind and quick help I am posting new chart which look better then I did posted earlier now I have to practice to understand your mind entry and exit system for that I will need further your help

As some one said FIRST LEARN THAN REMOVE “L”

I appreciate your help

Regards,
Moti
Attached Image
  • #352
  • Feb 3, 2015 2:20pm Feb 3, 2015 2:20pm
Thanks for that excellent explanation

I think the penny has finally dropped

Now to put in into practice

Cheers
  • #353
  • Feb 4, 2015 12:23am Feb 4, 2015 12:23am
Thanks for the explanation. please can you tell me the settings of Trend Magic?
Thank You
  • #354
  • Feb 4, 2015 1:48am Feb 4, 2015 1:48am
Quoting Matrix8756
Thanks for the explanation. please can you tell me the settings of Trend Magic? Thank You
Hi matrix trend magic does not have any settings to alter? Use it as it comes.
  • #355
  • Edited 2:56am Feb 4, 2015 2:41am | Edited 2:56am
two quick winners this morning both short. Euro and Aud and a loser on cable.
  • #356
  • Edited 4:29am Feb 4, 2015 4:06am | Edited 4:29am
shorted the Aud

Update. SL hit -1%

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5.png Size: 36 KB
  • #357
  • Feb 4, 2015 4:11am Feb 4, 2015 4:11am
Hi matrix trend magic does not have any settings to alter? Use it as it comes.

Thanks
  • #358
  • Edited 4:48am Feb 4, 2015 4:32am | Edited 4:48am
Long Euro

Update: SL hit -1%

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 37 KB
  • #359
  • Feb 4, 2015 4:37am Feb 4, 2015 4:37am
[Quote = shoot2scoot; 8.045.285] Lungo Euro [/ quote]

Why long Euro. magic is not yet Blue.
I'm wrong
Thank You
  • #360
  • Feb 4, 2015 7:05am Feb 4, 2015 7:05am
Did my first trade this morning after your excellent explanation and got 14 pips on A/U😀
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