fxwinner22
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if you owned ths forum avery we might take notice of you. .... but you dont so go sit on that non-existent beach.
NEVER LOSE AGAIN!! TheRumpledOne
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if you owned ths forum avery we might take notice of you. .... but you dont so go sit on that non-existent beach.
nunrgguy
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Law 3 Conceal your intentions
Law 4 always say less thn necessary
Law 6 court attention at all cost
Law 7 get others to do the work for you but always take the credit
Law 11 learn to keep people dependent on you
Law 16 use absense to increase respect and honour
Law 21 play a sucker to catch a sucker
Law 27 play on people'e need to believe to create a cult-like following
Law 30 make your accomplishments seem effortless
Law 40 control the options: get others to play the cards you deal
Law 32 play to people's fantasies
Law 36 disdain things you cannot have
Law 37 create compelling spectacles
Law 39 stir up waters to catch fish
Law 43 work on the hearts and minds of others
Law 44 disarm and infuriate with the mirror effect
Law 48 asume formlessness
:idea:17 out of 48, excellent
Law 4 always say less thn necessary
Law 6 court attention at all cost
Law 7 get others to do the work for you but always take the credit
Law 11 learn to keep people dependent on you
Law 16 use absense to increase respect and honour
Law 21 play a sucker to catch a sucker
Law 27 play on people'e need to believe to create a cult-like following
Law 30 make your accomplishments seem effortless
Law 40 control the options: get others to play the cards you deal
Law 32 play to people's fantasies
Law 36 disdain things you cannot have
Law 37 create compelling spectacles
Law 39 stir up waters to catch fish
Law 43 work on the hearts and minds of others
Law 44 disarm and infuriate with the mirror effect
Law 48 asume formlessness
:idea:17 out of 48, excellent
UKtradergirl
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This is a little worrying and explains why you need to spend more time in the recording studio than trading.
Firstly, why an earth would you enter a trade, particularly at $100 a point, not having any idea how much profit you want to take?! It appears you don't really have any idea of what kind of loss to take either, although 20 points seems to be batted around here and there.
Therefore, you are entering a trade with no idea if you are aiming for 1 pip or 50, and accepting a loss of say, 20 points (for arguements sake). At $100 a point!? Insane.
It appears that you give us a profit and stop loss AFTER the trade has occurred. Funnily enough the profit seems to be near the top of the spike, which in reality you may catch once in a blue moon, so not very likely.
You say that people are focussed on rules- well yes, is trading not about developing a set of rules in order to try and gain a profit? Even discretionary traders have a set of rules they follow. Also is your own system not based on rules?
JTrader
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What happened to the "ALL YOU NEED TO TRADE IS A HORIZONTAL LINE" & "BUYZONE" threads on T2W is, IMO, after lots of initial interest sparked by the boldness of the titles etc. after I & others such as Bansir's demo/test reports, pointed out the inherent weaknesses of these trade entry plans :!:, these threads basically dropped off, as other readers probably saw for themselves what a load of cods wallop the trade entry plan :!: was.
TRO has relaunched much the same stuff, repackaging the horizontal lines slightly @ 1/4 100's, and as rols pointed out - this thread has become a serious case of Deja Vu.
:!::!::!: :!: :!::!:
TRO has relaunched much the same stuff, repackaging the horizontal lines slightly @ 1/4 100's, and as rols pointed out - this thread has become a serious case of Deja Vu.
:!::!::!: :!: :!::!:
zupcon
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Sorry, thought the PM facility was just there for the exclusive use of spammers and vendors
UKtradergirl
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What happened to the "ALL YOU NEED TO TRADE IS A HORIZONTAL LINE" & "BUYZONE" threads on T2W is, IMO, after lots of initial interest sparked by the boldness of the titles etc. after I & others such as Bansir's demo/test reports, pointed out the inherent weaknesses of these trade entry plans :!:, these threads basically dropped off, as other readers probably saw for themselves what a load of cods wallop the trade entry plan :!: was.
TRO has relaunched much the same stuff, repackaging the horizontal lines slightly @ 1/4 100's, and as rols pointed out - this thread has become a serious case of Deja Vu.
Very true. You only need to do an internet search to see all the other identical rubbish out there by TRO. Not surprisingly, most of the threads go the same direction this one is going too.
You've been rumbled mr. rumpled. More times than i can count too.
UKtradergirl
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Sorry, thought the PM facility was just there for the exclusive use of spammers and vendors
Sooo.. what's the weather like where you are, Zupcon?
JTrader
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For me, this thread is at best - irresponsible.
It is designed to appeal to newbies.
It outlines a TRADE ENTRY PLAN only. Yet it is "advertised" under the title - "NEVER LOSE AGAIN!!!"
It is the trading equivalent of a swimming instructor telling a class of 5 year olds to jump into the water.
The swimming instructor, knows for themselves - "Whoops, i haven't told them what to do next have I.....or how to do it! (swim). And they haven't got their arm bands on!"
It is designed to appeal to newbies.
It outlines a TRADE ENTRY PLAN only. Yet it is "advertised" under the title - "NEVER LOSE AGAIN!!!"
It is the trading equivalent of a swimming instructor telling a class of 5 year olds to jump into the water.
The swimming instructor, knows for themselves - "Whoops, i haven't told them what to do next have I.....or how to do it! (swim). And they haven't got their arm bands on!"
UKtradergirl
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Nice analogy JTrader.
Hopefully newbies to trading reading this thread will be able to look at this and weigh up the risks and benefits before throwing money into this 'system'. Still, i'm sure some will still be allured by the 'never lose again' promises and will totally ignore warnings here.
Let's only hope they traded on a demo- or if they used real money only used $1 a point and not $100 a point as rumpled suggests :-0
ok Here's today's 5 min chart so far - arrows marked as before to show the buy & sell bars. If you look closely, you can also see that I've drawn a small line just below / above the 5 min bar that makes the entry.
I don't know how consistent the following statements are, the observations are a "eureka" moment I had this morning, it has not been backtested, but I certainly intend to forward test it here.
I think may have just found the answer to the 2 main complaints about this method of trading:
1) A scalping stop of 20 to 25 pips for a gain of 7 to 10 pips is too big a risk considering a 2 pip sread or more
answer: use 2 pips beyond the opposite side of the 5 min bar that hits the entry as a stop loss (see the small line drawn on each bar with the signal arrow in the chart below for clarification)
2) How to know where to exit?
answer: use the distance from the opposite end of the 5 min bar that hits the entry point and it extend it across the entry line to give you your target.
For example - eurusd new hour opens at 1.2560...it goes down to 1.2558 before then going up....it then crosses the entry line at 1.2575. In this scenario you would go long at 1.2575, your stop would be at 1.2556 (2 pips below the low of the bar) for a maximum 19 pip loss (1.2575 - 1.2556). Your target would then be 19 pips above 1.2575 at 1.2594. Therefore you have a 1:1 risk/reward.
Take a couple of minutes to look at your own 5 min chart because then you can see exact levels to see how accurate this is! If anyone isn't clear about the above suggestion for stop & target just let me know & I'll try again to explain with charts.
Bunny
I don't know how consistent the following statements are, the observations are a "eureka" moment I had this morning, it has not been backtested, but I certainly intend to forward test it here.
I think may have just found the answer to the 2 main complaints about this method of trading:
1) A scalping stop of 20 to 25 pips for a gain of 7 to 10 pips is too big a risk considering a 2 pip sread or more
answer: use 2 pips beyond the opposite side of the 5 min bar that hits the entry as a stop loss (see the small line drawn on each bar with the signal arrow in the chart below for clarification)
2) How to know where to exit?
answer: use the distance from the opposite end of the 5 min bar that hits the entry point and it extend it across the entry line to give you your target.
For example - eurusd new hour opens at 1.2560...it goes down to 1.2558 before then going up....it then crosses the entry line at 1.2575. In this scenario you would go long at 1.2575, your stop would be at 1.2556 (2 pips below the low of the bar) for a maximum 19 pip loss (1.2575 - 1.2556). Your target would then be 19 pips above 1.2575 at 1.2594. Therefore you have a 1:1 risk/reward.
Take a couple of minutes to look at your own 5 min chart because then you can see exact levels to see how accurate this is! If anyone isn't clear about the above suggestion for stop & target just let me know & I'll try again to explain with charts.
Bunny
Here's the 1am bar hot off the press:
The 5 min bar that hit the long entry lowest point was 11 pips below the line (13 pips if you allow a couple of pips below) then entry hit 1.2600. I've marked on the chart the target at 11 pips (it actually went to 1.2613) so whether you allowed a couple of pips below the bar or not, both would have been hit.
So know we know our risk and target before entering :clap:
To be continued...
Bunny
The 5 min bar that hit the long entry lowest point was 11 pips below the line (13 pips if you allow a couple of pips below) then entry hit 1.2600. I've marked on the chart the target at 11 pips (it actually went to 1.2613) so whether you allowed a couple of pips below the bar or not, both would have been hit.
So know we know our risk and target before entering :clap:
To be continued...
Bunny
UKtradergirl
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You'd be right in thinking it was a good idea to modify TRO's strategy. Exactly what it needed in my opinion- modification. As it is it was a load of rubbish. Congratulations if you have sorted it out- perhaps he will take your modifications on board for next time
Another option could be to take half profit at the first target and then look for double the distance for the 2nd target? Or how about using the distance from the stop to the first target and extending that for the 2nd target?? Time Will Tell
If anyone is still reading this thread some feedback or indeed your own observations and ideas on the above posts would be very much apreciated. I've had enough of the negative feedback, so please anything constrctive if you can. This is not my thread, not my system, I'm sick of taking the flack. All I'm trying to do is make it into something that could work.
Bunny
If anyone is still reading this thread some feedback or indeed your own observations and ideas on the above posts would be very much apreciated. I've had enough of the negative feedback, so please anything constrctive if you can. This is not my thread, not my system, I'm sick of taking the flack. All I'm trying to do is make it into something that could work.
Bunny
UKtradergirl
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Another option could be to take half profit at the first target and then look for double the distance for the 2nd target? Or how about using the distance from the stop to the first target and extending that for the 2nd target?? Time Will Tell
If anyone is still reading this thread some feedback or indeed your own observations and ideas on the above posts would be very much apreciated.
Bunny
It would be great to run some backtests based on the above options. Failing that, a forward test of at least several weeks might start to give us an inkling of a clue. It seems we are getting somewhere now- some firm rules which can be programmed for testing.
If i get time i'll see if i can give it a go.
Keep up the good work
Going back to that 1am bar, the low of the entry bar was 1.2589, entry 1.2600, first target 1.2611. Using my above suggestion for a possible 2nd target, the distance from the stop to the first target was 22 pips (1.2589 to 1.2611) so the 2nd target would be 1.2633 (1.2611 + 22 pips)..the highest reached was 1.2538 so it would have worked a treat.
On the other hand, if you had allowed the 2 pips below the bar for the stop, then it would be stop 1.2587 , entry 1.2600, first target 1.2613 (26 pips from the stop to target). Then the 2nd target would have been 1.2639 (1.2613 + 26 pips) just 1 pip above the highest reached.
At least we have a rough idea where the 2nd target may be.
Bunny
On the other hand, if you had allowed the 2 pips below the bar for the stop, then it would be stop 1.2587 , entry 1.2600, first target 1.2613 (26 pips from the stop to target). Then the 2nd target would have been 1.2639 (1.2613 + 26 pips) just 1 pip above the highest reached.
At least we have a rough idea where the 2nd target may be.
Bunny
This chart is as live as I can make it. The new hour opened at 1.2569, highest reached was 1.2572, entry hit 1.2550, stop 1.2574, first target 1.2526 (22 pips from opposite end of bar to entry, then extended down below the entry), 2nd target 1.2506.
Bunny
Bunny
