NEVER LOSE AGAIN!! TheRumpledOne

[bunnygirl]

:cheers:

cheers Gumping

I posted seperately so that the timestampes can be seen how quick this trade was.
I'll edit in realtime in future as I did with the first trade I posted otherwise it may take up too much space?

I only posted for people to see how easy it can be done in realtime. I wouldn't like to see this thread turn into some sort of signal service.

Bunny

 

[UKtradergirl]

If you had entered long on EUR/USD at 1.2700... you would have lost (stop at -25 points).

 

[bunnygirl]

If you had entered long on EUR/USD at 1.2700... you would have lost (stop at -25 points).

The proper entry level was 1.2650, I was thinking of adding at 1.2675 which could have gained a further 22 pips (my target was 1.2697), I wouldn't have thought of entering at 1.2700 because of the average range and how far the price had moved already to reach 1.2700.

Bunny

 

[UKtradergirl]

The proper entry level was 1.2650, I was thinking of adding at 1.2675 which could have gained a further 22 pips (my target was 1.2697), I wouldn't have thought of entering at 1.2700 because of the average range and how far the price had moved already to reach 1.2700.

Bunny

That's not in the 'simple' rules.

Would anyone care to post the 'complete' version of the rules for the horizontal line strategy please?

 

[Gumping]

That's not in the 'simple' rules.

Would anyone care to post the 'complete' version of the rules for the horizontal line strategy please?

1 trade per hour only - as mentioned earlier by TRO.

All the rest as you've described.

 

[bunnygirl]

That's not in the 'simple' rules.

Would anyone care to post the 'complete' version of the rules for the horizontal line strategy please?

I must have found it in the 'common sense' rules then. Sorry if I confused anyone

Bunny

 

[zupcon]

That's not in the 'simple' rules.

Would anyone care to post the 'complete' version of the rules for the horizontal line strategy please?

To be fair to TRO, he has mentioned the average range previously, although it appears to be a rule thats applied with a fair bit of discretion.

 

[UKtradergirl]

We really could do with a definitive list of the exact strategy including all the 'extra' rules.

The basic idea as described by TRO is put forward as entering a trade depending on candle colour and the hitting of certain lines (00,25,50,75).

Perhaps we can make a list of other nuances of the system too.

What i am trying to point out is that this is not merely 'See GREEN, Go LONG, SEE PROFIT" as TRO puts forward in nearly all his posts.

For the record and for those of us lacking in 'common sense' as you very succinctly put it i think it would be a great idea to actually define this strategy a bit more.

 

[Brabed]

We really could do with a definitive list of the exact strategy including all the 'extra' rules.

The basic idea as described by TRO is put forward as entering a trade depending on candle colour and the hitting of certain lines (00,25,50,75).

Perhaps we can make a list of other nuances of the system too.

What i am trying to point out is that this is not merely 'See GREEN, Go LONG, SEE PROFIT" as TRO puts forward in nearly all his posts.

For the record and for those of us lacking in 'common sense' as you very succinctly put it i think it would be a great idea to actually define this strategy a bit more.

UKTG,

Sometimes 'defining' a system too much can be counter-productive. I've been down that road and there's a lot to be said for 'trader's intuition' along with some guides. I think TRO is presenting the guides, but it's still up to you to be a good trader (not saying you're not a good trader). Just some thoughts.

 

[UKtradergirl]

UKTG,

Sometimes 'defining' a system too much can be counter-productive. I've been down that road and there's a lot to be said for 'trader's intuition' along with some guides. I think TRO is presenting the guides, but it's still up to you to be a good trader (not saying you're not a good trader). Just some thoughts.

Part of being a good trader is having a good plan. There should be no doubt about points of entering and exiting a trade, stoplosses, etc. That's all i'm after. After all, this is portrayed as a more mechanical system- not a discretionary one.

To be honest it just appears that you are using the 'it's discretionary' tactic to have a go at me because i highlighted a potential losing trade in the system. Not all systems will win all the time anyway, so there should be no problem with there being losing trades- it's part of the process.

 

[bunnygirl]

To be honest it just appears that you are using the 'it's discretionary' tactic to have a go at me because i highlighted a potential losing trade in the system. Not all systems will win all the time anyway, so there should be no problem with there being losing trades- it's part of the process.

But the "losing trade" (go long at 1.2700 on eur/usd) that you suggest wasn't a trade. The entry level for that hour was 1.2650....so there was no "losing trade" at 1.2700

In fact, anyone still holding would be 80 pips in profit now for this hour with 5 mins left to run.

bunny

 

[Brabed]

Part of being a good trader is having a good plan. There should be no doubt about points of entering and exiting a trade, stoplosses, etc. That's all i'm after. After all, this is portrayed as a more mechanical system- not a discretionary one.

To be honest it just appears that you are using the 'it's discretionary' tactic to have a go at me because i highlighted a potential losing trade in the system. Not all systems will win all the time anyway, so there should be no problem with there being losing trades- it's part of the process.

I'm on the sidelines here, I have no reason to defend TRO's strategy's. I am not currently using any of his indicators, so I have no skin in the game here. I just found this thread interesting and I've seen TRO around the web.

I'm just making general observations.

 

[UKtradergirl]

WHAT A GREAT SHORT AT 0.6650

YOU CAN DO THIS ALL DAY AND ALL NIGHT.

SEE GREEN CANDLE.

SEE GREEN CANDLE AT HORIZONTAL LINE AT 0.6525

GO LONG AT 0.6525.

SEE PROFIT.

SEE RED CANDLE.

SEE RED CANDLE AT HORIZONTAL LINE AT 0.6650

GO SHORT AT 0.6650

SEE PROFIT.

SIMPLE!

That is ALL THAT THERE IS TO IT. There is NOTHING MORE. Do not complicate matters.

You don't have to talk or think about trend, support, resistance, bounces, breakouts, etc.... You do NOT need indicators.

YOU SEE THE COLOR AT THE LINE AND TRADE WITH IT, NOT AGAINST IT... IT'S THAT SIMPLE!

If you do NOT understand, then keep rereading this message and looking at the chart until it hits you like a TON OF BRICKS!!

But the "losing trade" (go long at 1.2700 on eur/usd) that you suggest wasn't a trade. The entry level for that hour was 1.2650....so there was no "losing trade" at 1.2700

In fact, anyone still holding would be 80 pips in profit now for this hour with 5 mins left to run.

bunny

Bunnygirl- look at the above post i have quoted from TRO (highlighted bit in red). He appears to suggest entering a short trade on a red candle-- not at the first horizontal line the candle passes through- but the second one. So perhaps you are wrong? Either that or TRO was wrong?



p.s. just looked at this and think i may have got it wrong. but regardless- where has TRO said about entering only the first trade of the hour? i can't find it.

 

[bunnygirl]

My own method of trading would have allowed a re-entry above 1.2697 after the pullback and it broke again, but I'm trying to stick to only one entry per hour. Had I left the stop at b/e instead of taking profit at my target at 1.2697 then my 2nd half would still be running.

So here's another question TRO...if I manage to hold for the whole hour, should I use the entry points in the next hour for exit / adding to position?

Bunny

 

[bunnygirl]

Bunnygirl- look at the above post i have quoted from TRO (highlighted bit in red). He appears to suggest entering a short trade on a red candle-- not at the first horizontal line the candle passes through- but the second one. So perhaps you are wrong? Either that or TRO was wrong?


It looks as though he was talking about the penultimate bar here.

Bunny

 

[bunnygirl]

eur/usd opened at 1.2724.

I am now long at 1.2727 (1.2725 + spread)

Bunny

p.s sorry for delay in posting, I was busy looking for where TRO said only 1 post per hour

 

[TheRumpledOne]

4 bars in a row, 9-am to 11-am.
the 12-noon bar failed.
the others after 12-noon are also positive.

frighteningly simple. TRO says just go for 5 pips, but if you're risking 25, thats not good. but, experience is showing you could trail it and grab lots more.

this thread could do with forward calls.
every hour, just call the chart value of the pair you are trading, and declare what your triggers for long or short are. easy. unambiguous.
(oh, and post when you take profit, to avoid claims it was too long after the event)

EU currently at 1.2638.
looks like 1.2625 for a short, 1.2650 for a long. (now, 15:58)

It's simple.

The price is usually going to open between 00, 25, 50, 75. You are either going LONG at the line above or SHORT at the line below. On the rare occurences that price open on a line. You can pass or you can enter at +/- 10 pips if just have to trade.

We all know what the triggers are... SIMPLE!

You can post the chart AFTER you exit the trade and tell us what you did.

It's more important to make money than it is to post charts.

Thank you.

 

[TheRumpledOne]

To be fair to TRO, he has mentioned the average range previously, although it appears to be a rule thats applied with a fair bit of discretion.

Average range is used to let you know when it may be time to exit the trade AND to NOT ENTER another.

Once average range exceeded, ALL BETS ARE OFF!

Thanks for posting.

 

[bunnygirl]

first half closed for 13 pips profit 2nd half to b/e

bunny

update: 2nd half closed at b/e


it's coming up to tea time here, this was the last trade for me today...happy pipping everyone!

4 stress-free hardly any drawdown trades, thnx v much TRO, it's only my first day of trading your method and only using one pair so far - your method has great potential (judging by your passion for it you already know this )

 

[zupcon]

Bunnygirl- look at the above post i have quoted from TRO (highlighted bit in red). He appears to suggest entering a short trade on a red candle-- not at the first horizontal line the candle passes through- but the second one. So perhaps you are wrong? Either that or TRO was wrong?

I'm pretty sceptical of TRO's motives, but I think the entry on this trade is clear, and meets the rules as stated, the entry in on the penultimate bar which opens just above 6650, so at the time 6650 is crossed, the bar will be red !

Weather the trade would have been closed for a 5 pip scalp, or held, is something that cant really be established from retrospectively posted charts.

In fairness to TRO he's also pretty clear that until people gain experience they should restrict trades to once per bar, and not to chase the market