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TheRumpledOne
rank: 1000+ posts
Age: 54
Joined: 14 May 2006
Posts: 6642
Location: Tucson, Arizona
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ANATOMY OF DRAINING THE BANK
1) Only trade if there is a 1, 2 or 3 semafor on the current or previous H1 candle. NO EXCEPTIONS.
SINCE THE PREVIOUS H1 CANDLE HAS A SEMAFOR - GBPUSD IS IN PLAY.
2) After you see the semafor on the H1 chart, look at the M15 chart for the long(light blue) and short(pink) triggers based on TRO DYNAMIC FIBS SR TRAIL indicator.
3) When price touches the trigger you enter. DON'T THINK, JUST ACT!
4) Only ONE TRADE PER M15 CANDLE. If price goes against you, just wait.
5) If price went against you and makes a new dynamic sup/res level, get ready to enter at the trigger. If you can't see how this works, then DO NOT TRADE IT. I have entered up to 3 times.
6) What's the STOP LOSS? The stop loss is your maximum allowed loss per trade based on your money management.
RISK = POSITION SIZE * STOP LOSS
STOP LOSS = RISK / POSITION SIZE
7) What's the TAKE PROFIT? You take what you can. I usually take 5+ pips and leave more on the table.
Try this method using a micro lot or 0.1 mini lot. Trade it this way until you feel comfortable and are profitable on a consistent basis. Just trade it, AS IS, and don't add anything to it to improve it. You'll be amazed at how profitable a simple method can be.
YOU DON'T HAVE TO SWITCH TO M5, YOU CAN USE THE TRO MULTIMETER CANDLE COLOR.
BUT ONE MUST DO IS TRADE WITH THE PRICE DIRECTION AT THE TIME. IF D1 AND H1 ARE GREEN BUT PRICE IS GOING DOWN THEN YOU SHOULD BE SHORT. JUST BE CAREFUL.
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_________________
IT IS NOT WHAT YOU TRADE, IT IS HOW YOU TRADE IT!
You are on the internet - If you (google) search for it, you'll probably find it.
DRAIN THE BANKS T-shirts here: http://www.drainthebanks.com
Last edited by TheRumpledOne on Fri Jul 03, 2009 8:52 pm; edited 3 times in total
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TheRumpledOne
rank: 1000+ posts
Age: 54
Joined: 14 May 2006
Posts: 6642
Location: Tucson, Arizona
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EXAMPLE #2
WAITING FOR M15 TO CLOSE
WAITING FOR THE TRIGGER TO BE HIT
DRAINING COMPLETE
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_________________
IT IS NOT WHAT YOU TRADE, IT IS HOW YOU TRADE IT!
You are on the internet - If you (google) search for it, you'll probably find it.
DRAIN THE BANKS T-shirts here: http://www.drainthebanks.com
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TheRumpledOne
rank: 1000+ posts
Age: 54
Joined: 14 May 2006
Posts: 6642
Location: Tucson, Arizona
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EXAMPLE #2
SWITCH TO M5 CHART
5 PIP DRAIN
NOTE: I SWITCHED THE ENTRY TRIGGER TO 5 PIPS IN THE LAST CHART. The first 2 charts had 10 pip triggers but I wasn't looking at the chart when I was trading - I was trading!!
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_________________
IT IS NOT WHAT YOU TRADE, IT IS HOW YOU TRADE IT!
You are on the internet - If you (google) search for it, you'll probably find it.
DRAIN THE BANKS T-shirts here: http://www.drainthebanks.com
Last edited by TheRumpledOne on Tue Apr 14, 2009 6:27 pm; edited 1 time in total
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TheRumpledOne
rank: 1000+ posts
Age: 54
Joined: 14 May 2006
Posts: 6642
Location: Tucson, Arizona
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Drain, drain, drain the banks,
Draining night and day.
Merrily, merrily, merrily, merrily,
Make the bastards pay.
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_________________
IT IS NOT WHAT YOU TRADE, IT IS HOW YOU TRADE IT!
You are on the internet - If you (google) search for it, you'll probably find it.
DRAIN THE BANKS T-shirts here: http://www.drainthebanks.com
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TheRumpledOne
rank: 1000+ posts
Age: 54
Joined: 14 May 2006
Posts: 6642
Location: Tucson, Arizona
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EXAMPLE #4
WAITING...
WAITING...
DRAINING PROCEDURE INITIATED
DRAINING COMPLETE
Drain, drain, drain the banks,
Draining night and day.
Merrily, merrily, merrily, merrily,
Make the bastards pay.
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_________________
IT IS NOT WHAT YOU TRADE, IT IS HOW YOU TRADE IT!
You are on the internet - If you (google) search for it, you'll probably find it.
DRAIN THE BANKS T-shirts here: http://www.drainthebanks.com
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TheRumpledOne
rank: 1000+ posts
Age: 54
Joined: 14 May 2006
Posts: 6642
Location: Tucson, Arizona
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_________________
IT IS NOT WHAT YOU TRADE, IT IS HOW YOU TRADE IT!
You are on the internet - If you (google) search for it, you'll probably find it.
DRAIN THE BANKS T-shirts here: http://www.drainthebanks.com
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frang0nve
rank: 50+ posts
Joined: 09 Apr 2009
Posts: 122
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Hello TRO,
Thanks for your explanation.
Which indicator do you use to display the semafors?
Cheers
Francisco
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razorboy
rank: 500+ posts
Joined: 21 Oct 2008
Posts: 615
Location: Toronto
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It's not my imagination is it? Did you go against H1 in this trade? Did you only have one position on for this trade?
Also, what "rules" would you use for trading a breakout? Would you simply wait for a hit of S/R and then look at range count to see the average movement in comparison to the current breakout candle? How would you manage the trade?
| TheRumpledOne wrote:
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EXAMPLE #2
WAITING FOR M15 TO CLOSE
WAITING FOR THE TRIGGER TO BE HIT
DRAINING COMPLETE
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TheRumpledOne
rank: 1000+ posts
Age: 54
Joined: 14 May 2006
Posts: 6642
Location: Tucson, Arizona
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| frang0nve wrote:
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Hello TRO,
Thanks for your explanation.
Which indicator do you use to display the semafors?
Cheers
Francisco
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3 LEVEL ZZ SEMAFOR TRO MODIFIED VERSION
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_________________
IT IS NOT WHAT YOU TRADE, IT IS HOW YOU TRADE IT!
You are on the internet - If you (google) search for it, you'll probably find it.
DRAIN THE BANKS T-shirts here: http://www.drainthebanks.com
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TheRumpledOne
rank: 1000+ posts
Age: 54
Joined: 14 May 2006
Posts: 6642
Location: Tucson, Arizona
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t's not my imagination is it? Did you go against H1 in this trade? Did you only have one position on for this trade?
YES, I WENT AGAINST THE H1. ONE POSITION.
Also, what "rules" would you use for trading a breakout? Would you simply wait for a hit of S/R and then look at range count to see the average movement in comparison to the current breakout candle? How would you manage the trade?
IF PRICE BREAKOUTS OUT BY 1 - 5 PIPS, YOU ENTER THE BREAKOUT. HOW MANY PIPS YOU WAIT IS UP TO YOU. YES, CHECK THE CANDLE RANGE AND COMPARE TO AVERAGE TO SEE HOW MUCH GAS IS LEFT IN THE TANK. MANAGE THE TRADE? TAKE MY PIPS WHEN I CAN...LOL!
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_________________
IT IS NOT WHAT YOU TRADE, IT IS HOW YOU TRADE IT!
You are on the internet - If you (google) search for it, you'll probably find it.
DRAIN THE BANKS T-shirts here: http://www.drainthebanks.com
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