Never Lose Again

[aliassmith]

I really love the ZL/MZ methodology. It is fantastic. I see how it can be applied to H1 charts with good success. The problem is my work schedule only allows me to trade about 4 hours a day. I a trying to convert my new found knowledge to a M5 chart.

When I watch a M5 chart it seems to have similar characteristics as the H1 chart. So now I am going to analyze the M5 and so far it looks promising.

[pablo101]

lukx

If you believe you are going to lose your account, you have a 99% likelihood you will accomplish what you believe. If I may suggest stop trading live money immediately and begin assessing and learning. You know what doesn't work, begin learning what does work. With you beliefs, you will achieve that which you believe, no more no less.

Your Friend in VA
Patch

Lukx

You can do it bud!

[es/pip]

I really love the ZL/MZ methodology. It is fantastic. I see how it can be applied to H1 charts with good success. The problem is my work schedule only allows me to trade about 4 hours a day. I a trying to convert my new found knowledge to a M5 chart.

When I watch a M5 chart it seems to have similar characteristics as the H1 chart. So now I am going to analyze the M5 and so far it looks promising.

just make sure you are aware of where the higher time frame momo is and where you are at in the bigger picture.

it is easy to get caught up in just what the m5 chart is doing and it can whipsaw you back and forth.


also,

its key to note in the chart you posted that the h1 ( during that period) was clearly momo to the downside--- and as a result you were trading in the direction of profit--- and low and behold you made pips

[brettnchrism]

Win one lose one. I made a mistake and went against the H4 down trend took a long position on the long z line. Lessons learned just wanted to post for any feed back.

[es/pip]

Win one lose one. I made a mistake and went against the H4 down trend took a long position on the long z line. Lessons learned just wanted to post for any feed back.

and noticing that and acknowledging that is a good thing


it wasnt so much the h4 downtrend, but the h4 down momo bar you bought into.

basically they fooled you by showing momo on the h1-- which looked like it was going to go up-- but they formed the h1 bars like that right back into the huge h4 down momo bar--- which was a short setup.

your trade could have just as easily worked-- but odds are the h4 momo wins that battle----- most times

[jz166]

long or not? why? H1 is red btw.
thanks!

[brettnchrism]

Thanks for the reply ES. I also took this entry pre asian open so I think timing has a little part as well. I have made a note. I'm still working out a exit strategy I hold way to long. I notice that if its going to go my way it normally does within five to ten minutes but not sure if this is s good gauge to exit.

[prochargedmopar]

I really love the ZL/MZ methodology. It is fantastic. I see how it can be applied to H1 charts with good success. The problem is my work schedule only allows me to trade about 4 hours a day. I a trying to convert my new found knowledge to a M5 chart.

When I watch a M5 chart it seems to have similar characteristics as the H1 chart. So now I am going to analyze the M5 and so far it looks promising.

I'm with you on this.
Just up the pip value and lower the daily requirement.

Here is my version of trading with m5 direction and m1 price action.



And here is the m15 direction using m5 momo to take the trade.........



These charts continue all the way to daily's....May only trade m5's but Look at them all.heheheehe

[prochargedmopar]

BTW, the first pic is a perfect example of a larger correction that does not return to the extreme.........see the m1's??????

LOL

[brettnchrism]

Took a GU short lets see how it turnes out.












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