TygerKrane's Pip-Pickpocketing

[TygerKrane]

Great zline trading posted by dragon33. Says he did it strictly observing the M15. [I'm not sure , yes AND no] Looks super-effortless on his chart. For some reason, it stands out to me.

Will definitely refer back to this when I really try getting into zlines.
dragon33 M15 zlines

[TygerKrane]

So apparently, I'm so worried about my breakeven order getting 'wicked' before going onto bigger profits, that I am just letting my full stop get hit?!?


What IS my profit taking philosophy exactly??

I guess no one ever went broke taking a profit?? I'm making this way more difficult than it needs to be...

[MightyOne]

So apparently, I'm so worried about my breakeven order getting 'wicked' before going onto bigger profits, that I am just letting my full stop get hit?!?


What IS my profit taking philosophy exactly??

I guess no one ever went broke taking a profit?? I'm making this way more difficult than it needs to be...

"I guess no one ever went broke taking a profit" -TygerKrane

I never want to hear you say that again or any other fear speech that leads to mediocrity.

What you could do is place 1/2 your order and then place the other 1/2 when you are convinced that your first trade can be safely held.

Wait for a longer candle and then liquidate at the highest high or highest close.

[TygerKrane]

Nothing much to say I don't think, but I am happy with my progress. Spent the week working on using the Level Sensor as a Buy Zone. While doing this, tried observing the charts more for understanding zlines.

Added another bit to my MT4 setup, made a custom Time Frame chart of M90 and used Custom Candle to group them by three, so the chart is M90/4hr30min candles. I think I like having this as an intermediate Level Sensor.



I'm still slow on analysis, so I've been trading the EJ mainly, but working to handle both EJ and GU at the same time. I'll take my time, I do realize there is plenty of action already on just the EJ for my trading style and time frame. But options are always a good thing if it ends my trading day quicker.

[TygerKrane]

It's funny how hearing even simple things repeated can have more of an impact after you've went out and gained more experience for yourself:

Just don't lose 5% of your account in any given week.

If I am down 5 - 6% then it's time to quit.

Flex: "do you close trades with any loss smaller than your stop loss? or do you just wait until price either hits the stop loss / goes back into profit? " TRO: "No. Price either..."

MightyOne: " It is not about just lines or just bodies or just wicks...."

[TygerKrane]

TheRumpledOne,
I'm not too much into collecting indi's, but can I still get a few Drain The Bank t-shirts from you tho???

[TheRumpledOne]

Yes, I still have some DRAIN THE BANKS t-shirts left.

[MightyOne]

Nothing much to say I don't think, but I am happy with my progress. Spent the week working on using the Level Sensor as a Buy Zone. While doing this, tried observing the charts more for understanding zlines.

Added another bit to my MT4 setup, made a custom Time Frame chart of M90 and used Custom Candle to group them by three, so the chart is M90/4hr30min candles. I think I like having this as an intermediate Level Sensor.



I'm still slow on analysis, so I've been trading the EJ mainly, but working to handle both EJ and GU at the same time. I'll take my time, I do realize there is plenty of action already on just the EJ for my trading style and time frame. But options are always a good thing if it ends my trading day quicker.

My advise is to never combine more than 4 candles on any chart even if the combined candles cover the same data as a higher TF charts combined data.
You want to study each time frame independently and look at one time frame in relation to another (or why view multiple time frames?).

[TygerKrane]

Forex Daytrading...because with what I know about the markets' potential, getting a part-time job on top of my regular job would just be too demoralizing for me to handle.

I don't want to be another worker bee for another boss!! [highlight=red]Right?!?[/highlight] One more person holding a leash on my life...




Funny, I was thinking these thoughts yesterday (Tuesday), and I came across this post early this morning:

TRO: "Job?
What's the reason you want to have JOB and be a SLAVE, when you can trade to make a living?........."

[TygerKrane]

Nothing much to say I don't think, but I am happy with my progress. Spent the week working on using the Level Sensor as a Buy Zone. While doing this, tried observing the charts more for understanding zlines.

Added another bit to my MT4 setup, made a custom Time Frame chart of M90 and used Custom Candle to group them by three, so the chart is M90/4hr30min candles. I think I like having this as an intermediate Level Sensor.



I'm still slow on analysis, so I've been trading the EJ mainly, but working to handle both EJ and GU at the same time. I'll take my time, I do realize there is plenty of action already on just the EJ for my trading style and time frame. But options are always a good thing if it ends my trading day quicker.

My advise is to never combine more than 4 candles on any chart even if the combined candles cover the same data as a higher TF charts combined data.
You want to study each time frame independently and look at one time frame in relation to another (or why view multiple time frames?).

Thanks for the input, MO, gives me a chance to question/analyze what I am doing and why.

So I am currently more a Buy Zone trader than a zline trader. I see the amount of pips within an H4 candle and I am curious about how all that action unfolds; so that's why I have the M30 chart showing H4, just to correlate how the H4 breaks down.

On my M90 chart though, I do purposely like the offset of the candles compared to the typical H4 candle, so yes, I do think I am looking for something different there, more to the xyxy movements, perhaps.

Thanks Again,
Krane