TheRumpledOne Indicators - how to choose the right ones?

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TenCent
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TheRumpledOne Indicators - how to choose the right ones?

Postby TenCent » Wed Aug 07, 2013 1:33 am

Hello Community

I am relatively new here
I am fascinated by the TRO Indicators - but how to choose the right one?

TheRumpledOne has contributed to many Threads here

http://kreslik.com/forums/viewforum.php?f=4

it is confusing for me - where are the latest updated Indicators to find?

Thank you very much for any Help

Cheers

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lockonstratos
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Postby lockonstratos » Tue Apr 15, 2014 6:37 am

for me, if you can monitor your trade, you can use rat reversal. If you cant do that, use daily wick. But after sometimes, you wouldnt need that anymore. :) Just make sure that you understand how the method really works. Then, well...use your imagination. Both works for me...

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TheRumpledOne
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Postby TheRumpledOne » Tue Apr 15, 2014 5:29 pm

TenCent:

If you ask a better question, you'll get a better answer...LOL!

Indicators are just tools to help a trader SEE.

Microscope or Telescope? What are you looking for?

Are you looking for a method/system or just a gauge?

Tell me what you are trying to do and then I can make a suggestion.

Thanks for asking.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby Derolo » Sat Apr 26, 2014 8:52 pm

This ones for TRO

Im new to trading and would like to establish a trading strategy using horizontal lines. I would also need advice as to which trading software to use as I am based in the UK and all just seem to have the usual MACD, MAs, squiggly lines etc.

I would like to start spread betting the ftse 350, so do you have any indicators that work better on stocks?

I look forward to hearing from you.

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Postby TheRumpledOne » Sun Apr 27, 2014 3:14 pm

You need to turn your thinking around.... ask what stocks work best with what indicator.

That is where statistical analysis comes in.

A "cow" stock is different than a "Run Forest, Run" stock.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby Derolo » Sun Apr 27, 2014 7:01 pm

Thanks TRO

Would you be able to point out where I would start doing the "statistical analysis" please, as I am knew to all of this and don't even know what a cow or run forest run stock is.

I have seen a few people mention some e-books you have produced, possibly reading these along with watching your videos would unlock some of this information. If you could let me know where I could get them it would be appreciated.

Thanks again for your time.

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Postby Derolo » Sun Apr 27, 2014 8:06 pm

Hi TRO

I have just watched "there is no signal" and now I am confused. How can I search indicators when you are saying none of them work. What would be the point? I want to trade with horizontal lines, so how can I get this on my trading software in the UK? I can then easily observe price action and try and make the right call.

Thanks and speak soon

Dean

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Postby TheRumpledOne » Sun Apr 27, 2014 10:31 pm

Think of indicators as eyeglasses, microscopes, telescopes or gauges.

They help you SEE or they inform you of a condition.

That is all indicators do.

They problem lies within the indicators as much as within the trader. Most tools are not defective. If the saw cuts you, who is to blame? If you lose while using a certain indicator, who is to blame?

If you trade when price crosses a horizontal line in the direction of the cross, you will win some and lose some. Whether or not you profit or lose in the long run is up to you and your skills as a trader where risk, money management and trade management are concerned.

I suggest you use the SWEETSPOTSGOLD_TRO_MODIFIED and the TRO_MULTIMETER_CANDLE_COLOR and perhaps TRO_TRAININGWHEELS_DW.

Use H1 chart. Trade the line cross when H1 and D1 are the same color.

Image
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby Derolo » Mon Apr 28, 2014 3:10 pm

Hi TRO

Thanks so much for your feedback, but once again I am stumped. How do I download these indicators and which trading platform can I use them on?

I look forward to hearing from you.

Dean

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Postby newscalper » Mon Apr 28, 2014 3:13 pm

TheRumpledOne wrote:Think of indicators as eyeglasses, microscopes, telescopes or gauges.

They help you SEE or they inform you of a condition.

That is all indicators do.

They problem lies within the indicators as much as within the trader. Most tools are not defective. If the saw cuts you, who is to blame? If you lose while using a certain indicator, who is to blame?

If you trade when price crosses a horizontal line in the direction of the cross, you will win some and lose some. Whether or not you profit or lose in the long run is up to you and your skills as a trader where risk, money management and trade management are concerned.

I suggest you use the SWEETSPOTSGOLD_TRO_MODIFIED and the TRO_MULTIMETER_CANDLE_COLOR and perhaps TRO_TRAININGWHEELS_DW.

Use H1 chart. Trade the line cross when H1 and D1 are the same color.

Image


That is key is in bold, anything else, doesn't matter: it's finding a statistical edge of some kind, then applying it consistently and using a consistent method of trade management. I believe that's all there is.

It's not what you do before you hit the button, or what analysis of the past you do or fancy theories you have or patterns you think you see, or when or why you hit the button. It's what you do AFTER you hit the button.

IMO whether it's psych line, z-line, 'high probability setups' (really, who's done the analysis on the probabilities? and with what trade management criteria?) whatever - is almost irrelevant, find the one you can apply most consistently because after that it's your trade management that will decide if you win or lose in the long run.

TRO talks SO much sense it can be hard to get your head around it when there is SO much mis-information out there.

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