NEVER LOSE AGAIN!! TheRumpledOne
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Mr North:
I have been using TRO's approach for a month and a half. I am basically to the point where my charts have no indicators. Yes, I do plot the horizontal lines but many times now I just look at the price and how the numbers are reacting more than a chart. All that stuff that TRO places on the charts is just stuff to help the trader. I in particular like to SEE Candle averages. How many ups, how many 3 candles of same color. That tells me alot of what the next high probably condition might be.
Anyhow,
I want to share with you guys the conditions I look for not to Trade.
These are my observations based on my practice of the HORIZONTAL LINE approach. A "no trade" is also a good trade. Plus, I know I already mentioned it but how I handle the low ranging periods. It worked like a charm, just takes a little longer.
No trades:
1. H1 average is <30 pips (my preference some folks use 20 or 40)
2. In the image when I see at the 5, 15, or 30 min the candles side by side, no trade
3. The candles need to be forming like a staircase pattern. If the aren't I do not trade
4. The spread of the currencies needs to be < 4. I've tried 6,8, 14, nope you get crushed,
In a nutshell those are the items I look for not to take the trade. Take a look at the image below. Any questions let me know(LOL I just noticed I misspelled alot of words LOL):
Low ranging periods:
If H1 < 30 pips I head on over to the 4H timeframe. I have not determined a range value for this but just by eyeballing I see the the candles are ranging ok. I attempted several trades in this manner, same approach nothing different. It took longer but the result was positive pips.
All this stuff is not written in stone. These are observation that I have made. You guys may SEE something that I don't, perhaps something more probable to help the trade. As you practice you will develop this stuff.
Peace and have a great weekend
I have been using TRO's approach for a month and a half. I am basically to the point where my charts have no indicators. Yes, I do plot the horizontal lines but many times now I just look at the price and how the numbers are reacting more than a chart. All that stuff that TRO places on the charts is just stuff to help the trader. I in particular like to SEE Candle averages. How many ups, how many 3 candles of same color. That tells me alot of what the next high probably condition might be.
Anyhow,
I want to share with you guys the conditions I look for not to Trade.
These are my observations based on my practice of the HORIZONTAL LINE approach. A "no trade" is also a good trade. Plus, I know I already mentioned it but how I handle the low ranging periods. It worked like a charm, just takes a little longer.
No trades:
1. H1 average is <30 pips (my preference some folks use 20 or 40)
2. In the image when I see at the 5, 15, or 30 min the candles side by side, no trade
3. The candles need to be forming like a staircase pattern. If the aren't I do not trade
4. The spread of the currencies needs to be < 4. I've tried 6,8, 14, nope you get crushed,
In a nutshell those are the items I look for not to take the trade. Take a look at the image below. Any questions let me know(LOL I just noticed I misspelled alot of words LOL):
Low ranging periods:
If H1 < 30 pips I head on over to the 4H timeframe. I have not determined a range value for this but just by eyeballing I see the the candles are ranging ok. I attempted several trades in this manner, same approach nothing different. It took longer but the result was positive pips.
All this stuff is not written in stone. These are observation that I have made. You guys may SEE something that I don't, perhaps something more probable to help the trade. As you practice you will develop this stuff.
Peace and have a great weekend
North:
I am in the process of getting the java api that will allow me to connect and place order directly to broker sources. What I am getting at is that I believe that a command line interface is much more suited for the delivery of orders vs the gui, especially MT4. As you know after each tick many of the functions are called again and so are loops. One way of combating this is by using global variables. Instead of recalculating say an average you store that info in a global variable. Then and only when there is a change you jsut take the extreme candles and one simple addition or subtraction you calculate the new average. What I am getting at is that with a command line interface we a the least eliminate this probable "time" pot holds. Lord knows that we are also dealing with the broker and the market. The trader needs to be as pure as .... damn it, I am ranting LOL....
Stay tuned for the command line thingy
Peace...
I am in the process of getting the java api that will allow me to connect and place order directly to broker sources. What I am getting at is that I believe that a command line interface is much more suited for the delivery of orders vs the gui, especially MT4. As you know after each tick many of the functions are called again and so are loops. One way of combating this is by using global variables. Instead of recalculating say an average you store that info in a global variable. Then and only when there is a change you jsut take the extreme candles and one simple addition or subtraction you calculate the new average. What I am getting at is that with a command line interface we a the least eliminate this probable "time" pot holds. Lord knows that we are also dealing with the broker and the market. The trader needs to be as pure as .... damn it, I am ranting LOL....
Stay tuned for the command line thingy
Peace...
Xmess7,
Well I agree that for a scalping method such as this requires as quick an execution as possible I don't think anything you state is going to make any noticable effect on the profitability at this level.
IMO - you are better using a platform such as MT so that you have the reliability rather than the problems of a unique development. I say this after moving from a unique platform I developed myself.
Well I agree that for a scalping method such as this requires as quick an execution as possible I don't think anything you state is going to make any noticable effect on the profitability at this level.
IMO - you are better using a platform such as MT so that you have the reliability rather than the problems of a unique development. I say this after moving from a unique platform I developed myself.
I will just talk to myself for the moment as everyone has gone.
From my understanding there is a 5:1 probability that if a 2 pip move occurs then the next move will be a continuation for a further pip.
So how is the ratio of 1:4 on this strategy comparible to this? Is this relationship of continuation of momentum a factor in achievable profit? This is what I want to explore for a while.
From my understanding there is a 5:1 probability that if a 2 pip move occurs then the next move will be a continuation for a further pip.
So how is the ratio of 1:4 on this strategy comparible to this? Is this relationship of continuation of momentum a factor in achievable profit? This is what I want to explore for a while.
Thnx, I will note that.
My experience in programming deals with systems that are mission and life critical. For example if a pilot detects an enemy craft and his missile system tells him "I" have a lock. When he hits that engage button that firmware and algorithm in the missile better work to perfection cause otherwise we have a fried pilot. Yes MT4 is robust but it can afford improvement in that arena. It is like winbloze vs linux. The masses believe that winbloze is the OS to use. In my opinion it is not. I understand this much. In the business sense windbloze is the way to go, but that has nothing to do with execution or operation, that's about money. I pretty much use linux for all my computing now. Just as an example... I can tell you this, by the time a winbloze user has his system booted up and read to execute a program, in Linux I have already done that and more. Plus not to add to the blue screens of death. In the 15 yrs plus I have dealt with the linux OS system I have yet to see it do such a thing. In fact I still have an old P2 machine running a webserver with all it's security and etc. It's on it's 11 year (of course there has been some maintenance)! I haven't seen any windowsNT servers do as such.
DAMN!! Sorry I am ranting.
In short. More than likely what I develop will be for my personal use. If folks are interested I will gladly provide software/source/support.
As you probably know it is very different when you know what you have under the hood than just being the recipient of that item or service.
More to come...
Jess
My experience in programming deals with systems that are mission and life critical. For example if a pilot detects an enemy craft and his missile system tells him "I" have a lock. When he hits that engage button that firmware and algorithm in the missile better work to perfection cause otherwise we have a fried pilot. Yes MT4 is robust but it can afford improvement in that arena. It is like winbloze vs linux. The masses believe that winbloze is the OS to use. In my opinion it is not. I understand this much. In the business sense windbloze is the way to go, but that has nothing to do with execution or operation, that's about money. I pretty much use linux for all my computing now. Just as an example... I can tell you this, by the time a winbloze user has his system booted up and read to execute a program, in Linux I have already done that and more. Plus not to add to the blue screens of death. In the 15 yrs plus I have dealt with the linux OS system I have yet to see it do such a thing. In fact I still have an old P2 machine running a webserver with all it's security and etc. It's on it's 11 year (of course there has been some maintenance)! I haven't seen any windowsNT servers do as such.
DAMN!! Sorry I am ranting.
In short. More than likely what I develop will be for my personal use. If folks are interested I will gladly provide software/source/support.
As you probably know it is very different when you know what you have under the hood than just being the recipient of that item or service.
More to come...
Jess
TheRumpledOne
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I agree that you do NOT need the info to trade and that's not what it is there for. It is to show you when something changes or when a setup is about to occur.
The real time stats let you know if things are "normal".
The money management does the work for you.
The other indicators show you when a 3 bar reversal setup is there.
But you do NOT need any of those indicators to make a profit.
All you need are candle colors and horizontal lines. Just use some common trading sense and money management.
fxwinner22
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step 1 - come up with some simple stupid system like take 5 pips with a 20 stop, some silly candlestick rules and a bunch of cohorts to sing one's praises..
step 2 tell everyone you cant take every signal of course - that's just plain silly, dont forget to lure them to your 'donations' page
step 3 get some seasoned 'pro' in on the act - a seasoned pro that can't trade for toffee is usually the best but people think they are better than they really are
step 4 - seasoned pro starts suggesting things like 'take bigger profits' or 'trailing stop' , starter comes on and reminds people to contribute by donations by keeping profile looked at
step 5 - wait for some numpty who thinks seasoned pro is god (ess?) to suggest they can make an ea and solve all your problems.
step 6 - come in and tell pro and willing helpers to keep it up helping it along
step 7 curve fit to last 6 months of trading, starting of course at just the last few days
step seven - watch for swimmy swimmy black swan to take eryones money just as theyve got the parameters right and started to trade it for real
Step eight, rinse and repeat once a year on different forums
swimmy swimmy, here it comes
step 2 tell everyone you cant take every signal of course - that's just plain silly, dont forget to lure them to your 'donations' page
step 3 get some seasoned 'pro' in on the act - a seasoned pro that can't trade for toffee is usually the best but people think they are better than they really are
step 4 - seasoned pro starts suggesting things like 'take bigger profits' or 'trailing stop' , starter comes on and reminds people to contribute by donations by keeping profile looked at
step 5 - wait for some numpty who thinks seasoned pro is god (ess?) to suggest they can make an ea and solve all your problems.
step 6 - come in and tell pro and willing helpers to keep it up helping it along
step 7 curve fit to last 6 months of trading, starting of course at just the last few days
step seven - watch for swimmy swimmy black swan to take eryones money just as theyve got the parameters right and started to trade it for real
Step eight, rinse and repeat once a year on different forums
swimmy swimmy, here it comes
TheRumpledOne
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step 1 - come up with some simple stupid system like take 5 pips with a 20 stop, some silly candlestick rules and a bunch of cohorts to sing one's praises..
step 2 tell everyone you cant take every signal of course - that's just plain silly, dont forget to lure them to your 'donations' page
step 3 get some seasoned 'pro' in on the act - a seasoned pro that can't trade for toffee is usually the best but people think they are better than they really are
step 4 - seasoned pro starts suggesting things like 'take bigger profits' or 'trailing stop' , starter comes on and reminds people to contribute by donations by keeping profile looked at
step 5 - wait for some numpty who thinks seasoned pro is god (ess?) to suggest they can make an ea and solve all your problems.
step 6 - come in and tell pro and willing helpers to keep it up helping it along
step 7 curve fit to last 6 months of trading, starting of course at just the last few days
step seven - watch for swimmy swimmy black swan to take eryones money just as theyve got the parameters right and started to trade it for real
Step eight, rinse and repeat once a year on different forums
swimmy swimmy, here it comes
Do I know you?
Have done something to you?
What's the reason you are harassing me?
TheRumpledOne
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It's posted where I usually post my FREE indicators.
Pirilion
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TRO, i have been reading this thread for 5 hrs s8 and noticed that u are still trying to explain things and continue to be polite to these ignorant people. Maybe u should go back to ur "MYOFB" ways.
Pirilion
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checked kreslins download section and googled. Unable to find it. can u tell me where u post them?
tc
EDIT - Found them. thx
Last edited:
zupcon
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counter_violent
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A suggestion earlier in the thread, TRO uses numbers 00 25 50 75.....could these be any series of numbers ie 12 37 62 87 variable to be determined by the user ?
May be some use if anyone wants to run 2 EA's for comparison purposes...or for eg to see if price is attracted to whole numbers.
just my tuppence
cv
johnlvs2run
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Great idea. I've suggested the same thing on several other forums.
None that I know of have done this yet, but I see it as being inevitable.
Hi Jess,
I'm happily using Linux Sabayon and am very interested in what you'd like to share.
It seems that every online broker uses winbloatz, so I've been planning to get tinyxp,
but have no idea of what the best software would be.
They all seem quite expensive and I'm used to using open source programs.
Cheers,
John
TheRumpledOne
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The numbers actually DO NOT MATTER. I used random numbers and showed no losing trades all day long. A few days later someone was still using those numbers and winning.
If price moves up to a line either it will continue to go up or it will drop down. So if you are always trading with price movement at the moment, you usually get an opportunity to take profit. Sometimes just a few pips. Sometimes a boat load. And, of course, sometimes you lose. So many traders use indicators to determine trend when just looking at the chart is all you need to do. If price is moving, then it's moving UP or DOWN. WHICH WAY IS PRICE MOVING? It's simple to see, just look at the chart!
PS. CV, perhaps you can persuade some of the posters to cease and desist in their personal attacks and malicious posts. It sure would be appreciated. I am minding my own business in a thread that I started and some people have nothing better to do than attempt to disrupt this thread. Thanking you in advance.
TheRumpledOne
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Let's give this a go instead:
I've opened this thread for quality conversations and debate about learning HOW to trade. I will not address negative comments and I expect others not to either. In the event we find ourselves in the midst of a disgruntled trader, we need to ignore and move on. Deal? Debate is healthy, arguing is not.
I urge all of you to ask questions in a positive constructive way, if someone here is helpful we need to thank them....I think you all know what I'm trying to say.
A little more thought and from the recent posts - I will try to have an auto calculated setup for the system that bases itself on current volatility. So that it will automatically adjust the TP, SL and price levels based upon the current ATR. There will be the ability to overide this obv.
I have found out that Monday may not be as clear for me as I thought - so it may take a few days instead.
I have found out that Monday may not be as clear for me as I thought - so it may take a few days instead.
nunrgguy
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Tro - I see you're a musician. I was a professional musician and record producer for well over 10 years. I had over 75 singles releases before my market segement went up the Khyber.
Tell me, how do you react to criticism of your music because I can tell you that the criticism you'll get from punters and the press makes the 'slights' you are receiving here look pathetic in comparison, some punters will tell you point blank to your face that they think you (note YOU, not your music: they don't often differentiate) are sh*t. You have to grow a thicker skin or you find yourself out of the game sooner than you entered. If you put something out there you have to be prepared to be criticised.
Tell me, how do you react to criticism of your music because I can tell you that the criticism you'll get from punters and the press makes the 'slights' you are receiving here look pathetic in comparison, some punters will tell you point blank to your face that they think you (note YOU, not your music: they don't often differentiate) are sh*t. You have to grow a thicker skin or you find yourself out of the game sooner than you entered. If you put something out there you have to be prepared to be criticised.
