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tro_sr_rr
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The
tro_sr_rr just made me 13 pips. I tried once with fractals and nailed
15 pips today also. The buy zone gave me one +4 and one -5. Total today
so far +27 pips.
thank you tro! |
Hi everybody, i am reading this thread from the start. It is amazing how much i have learned allready.
I did a little search to contact TRO outside the forum because i'm not a forumwriter. The reason for contact was a cry for help. I have a daughter of 8 year with cancer and a very expensive treatment. I'm in forex livetrading for about a year. I started with 2000 euro and i am up for 2800 after a year. So you can see i am not an expert. After contact, TRO invited me immediately to his chatroom to teach. I didn't make contact yet. But by reading this thread and trying something new i traded last week with no loss and that is the first time i ever did in a week. Make advantage from the priceaction, use candlecolors and learn about sup and res. Think about it: everything you need to know is in this topic. Get in the market take profit and get out. If you are new like we al were don't try to run the big ones. Take every pip you can. If i can use everything what is in this topic so you can to. This is not rocket science but very easy to implement. Thanx TRO |
My response is completely unrelated to trading.
Dragon33, I was about to go to sleep when I saw your post. Please don't mind me praying for your daughter. cheers. Quote:
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Whats the name of this indicator that shades the 60min range over a 5min chart? looks good. |
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may i ask what the rift is all about as regards your posts in Mike's forum/site? |
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I would suggest you stick with ONE METHOD and ONE CURRENCY. All you need is ONE PROFITABLE TRADE PER DAY. Thanks for posting. |
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CUSTOM CANDLE is the name. I did NOT write it. You may like the TRO_PERIOD_DATA indicator. mladen is the original author, I just modified the code so you can load it more than once. See those candles to the right... one is the H1 candle and the other is the D1 candle. I attached a zip file with CUSTOM CANDLE and a few other's that I have posted. |
hey
fxcaribbean I think you are trying to take avery's advice and make it
its own system where I think avery means for it to be a filter. If you
are into your favorite setup and look good to short for example, then
just pan out to the h1 and if the candle is red it is an indication
that you are in fact trading with the larger timeframes (dare I say)
trend. If the h1 was green and you were looking to short on the 5m then
it is more probable that you will lose.
maybe im wrong but i don't think so |
YOU MUST READ THIS
This is one of the best, if not THE BEST, thread on trading on the net. READ IT TWICE!! |
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NEVER ASSUME!
I received a visitor message: Quote:
To test: Code:
if( (Open[0]<goLong) && (Close[0]>=goLong) ) Trigger=1; I would also put this right before the return line in Start: Code:
Comment( Displaying/dumping the variables will save you HOURS of debugging time. It will be IMMEDIATELY apparent 9 times out of 10 what the real problem is. |
BUILDING YOUR OWN SYSTEM WITH FREE INDICATORS
http://i37.tinypic.com/54zk3o.gif I would like to thank and acknowledge MIKE PARKER for sharing this setup with me. FREE Indicators used: 3 LEVEL ZZ SEMAFOR SHI CHANNEL TRUE SUPPORT AND RESISTANCE(BARRY) I loaded these in the zip file a couple of posts ago. It should be OBVIOUS TO THE READER ( I used to HATE reading that in geometry books because it NEVER WAS OBVIOUS TO ANYONE ) when to trade and in what direction. You see the support/resistance, you see the "trend" and you see the color of the H1 candle. To me, the only thing missing is the STATISTICS Once again, I would like to give credit to MIKE PARKER for this setup. TO BE CONTINUED... |
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Why not answering to the content of the post ? What i wrote was about statistics then on a statistical point of view you may use it to trade. Isn't that the whole purpose of the thread : Trade what you see = HAVE to watch = DO statistics = THEN trade ...and only THEN. Does that mean you "know the future" and conclude : "I am not sure what you are asking me to do. I can't give any guarantees. I don't know the future... If anyone did, there would be no market." Was so benefit (wow, what a bad word) to say he never made any stat on that ....or whatever usable comment. But thanks for your comment johnnykanoo. There is content in it. |
THE BUY ZONE FOR DUMMIES - MANUALS
http://i19.tinypic.com/6pk34ea.png Some people are having a difficult time finding the manuals. Here's the links: THE BUY ZONE FOR FOREX MANUAL THE BUY ZONE FOR FOREX MANUAL -FAQs THE BUY ZONE FOR FOREX MANUAL - B2B |
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I don't understand the question. Please rephrase it. |
TRO SR RR is easy...and profitable!!
I have been following TRO for a little under 2 years. It has been a good thing. I have learned a lot.
I just started using his new indicator TRO SR RR last week. In one week I made 228 pips in about 9 trades a day. That was for last week, where I only traded 4 days because of Labor Day. I am always skeptical of something working well over time, so only time will tell if this continues to work or not. But today, I have traded 9 times and have made 64 pips. This is great...fun...and easy...and it all works with Support and Resistance, something that many people talk about in the forums to use. So, thanks TRO...thanks for sharing the indicator. I will try to post some more results regularly. BearPaw |
one
thing I keep failing on is lack of patience and rushing to make pips
that arent there. lost many times by opening trades without looking
closely enough and it goes the opposite direction the second I open it.
or by making trades assuming something is going to happen and then it
doesnt. never assume :p
important to be patient and not try to create opportunities that are not there, only take opportunities that you can clearly see, if you cant clearly see it then wait. |
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If you notice that the trade usually goes against you after you enter then use my 2 PIP RULE OF THUMB: ENTER YOUR ORDER FOR 2 PIPS BETTER THAN YOU PLANNED! If you want to buy for 191.28, you enter a LIMIT BUY for 191.26 If you want to sell short for 191.20, you enter a LIMIT SELL SHORT for 191.22. SIMPLE, yet effective. Sometimes, you do NOT get filled but that's part of trading. |
i
agree with others about the candle colour indicator, i think it causes
some problem, ended up with mt4 using 100% cpu time and 260mb ram after
it had been open an hour or 2
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Use the latest upload. |
well
not a good day for support resistance trading it seems. been getting
false buy signals all day against eurusd etc every time it makes a new
low then goes back up slightly past the golong line, and every time
except one its just carried on down, got to the point now where i dont
trust it at all and im just ignoring it completely.
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The
template is very nice. I have a little doubt here with EURUSD. What
would be the signal for the price starting to go back up?
a) moving back inside the shi channel? b) breaking resistance at 1.4239? c) or maybe I just wait for b) to confirm a)? best regards. Quote:
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TRADE WITH THE BIAS
http://i34.tinypic.com/2d1waok.gif I wrote a BIAS HISTORY indicator to show you just how profitable it is to trade with the hourly and/or daily bias. YOU DO NOT NEED THIS INDICATOR. Hourly Bias History on top. Dailly Bias History on bottom. If the daily/hourly candle is RED then the daily/hourly bias is DOWN. If the daily/candle is GREEN the daily/hourly bias is UP. Some of you get WHACKED when you go long against the DAILY DOWN BIAS. Just IGNORE the long trades. Remember, ALL YOU NEED IS ONE GOOD TRADE PER DAY. |
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How many times do I have to tell you to NOT TRADE AGAINST THE 60 MINUTE CANDLE COLOR? I posted the TRO MULTI METER CANDLE COLOR so you can know what color the candle is without having to look at another chart. |
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Wait For A green 60 Minute Candle To Start Forming. http://i35.tinypic.com/n32lih.gif |
http://i35.tinypic.com/abjh5j.gif
Whoops! You asked about the EURusd. Answer is the same... WAIT FOR A GREEN 60 MINUTE CANDLE TO START FORMING. By applying simple rules of thumb, you usually stay out of unprofitable trades. |
So you should follow the hourly bias when trading on the 5M. What about other time frames? Is it relative?
15M I should check bias on the 4H? Trading on the 1H, I should look at the daily? 4H = heck bias on the weekly? |
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the issue is if theres a strong down bias and you miss the start of it, you may not get another short signal all day, just false longs. if there was an up bias before that down bias and you waited for a 60 min candle to go red and grow you would have missed the start of the big down (it would have already gone well past the goshort line) and may not get another valid signal all day if you wait for it to cross the goshort line again. or would you take a short even though it had already gone well past the goshort line? in that case you might be well into the trend and it may reverse on you, no way to know if it will continue and you already missed the start of it. This is the problem ive had today. missed the start of the huge drop because i was asleep. kept waiting for a retrace of some sort and another chance to go short, waited and waited and waited. other problem is after such a big drop when you do get a bit of a retrace and a chance to go short again, it may cross goshort line temporarily so you go short but then it continues to retrace upwards (1h bar might be red still at this point). also if trading with the hourly candle colour. you might be 1 minute into an hour and it goes 1 pip green giving a green hourly candle, you still cant trust that, especially if trend is down all day, what you probably need is a green 1h candle after 15 mins into the hour (or just wait for 3 green 5m bars and ignore the hourly candle which i think will be my new rule of thumb, 3 green/red 5min bars before any trade). difficult to judge what to do. |
Spikes affecting ones trade
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Hi
all , I have been following this thread and I have benefited from your
contributions, I don't really want to derail but I think this is also
important when trading.
I just want to know if spikes hunting stop loss still exist, though I trade in a country where I find it difficult to be online 24/7 cos of power supply, but luckily I was monitoring a trade today, even when the price hasn't reached my stoploss the trade was closed 1 pip away from my stoploss which means a lot to me, I also monitor feeds from different platforms which shows different prices, that isn't the issue, but closing a trade when its yet to reach it tp or sl sounds terrible, attached is a copy of the chart, the broker's spread is 2pips, EURUSD candle info = time 21:14 GMT, low 1.411, high 1.4117, close 1.4115, open 1.4112. Thanks |
Who is your broker, Quest?
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my mail to the broker
I want to talk to the back office first (customer service) before I know what to do, be it legal or ...
here is a copy of my mail Good day Sir/Ma, I am writing as a trader who is exploring/learning how to trade forex and after believing various review I read online about your good office, I decided to open a live account with you. e.g. Money isn't the issue here but fair play. Its a pity I trade in a country where power supply isn't constant the reason for missing good trades, but was lucky to be online to monitor my trade today, and noticed my trade closed when your feed/signal hasn't reached the price . I have noticed this for sometime now, by watching your platform trail stoploss (big allegation indeed), I say this because I have monitored feeds/signals from various brokers (I know feeds are different, but a movement not in the direction of others, even to your demo feeds (this isn't the issue, the issue is why close a trade a pip or pips away from the price). I just want to know what happen so that I can be rest assured ***** is a broker I can use when I am ready to transfer good money for big time trading. Thank you. |
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I use the hourly. When that matches the daily, that's usually a strong bias. There's no absolute. Find what works for you. |
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Has the AVERAGE DAILY RANGE been exceeded? IMHO, you need some type of "mechanical" indicator to tell you to go long rather than a "hunch" or "gut feeling". The S/R method that I have shown gives plenty of signals per day. Perhaps, patience is not your strong suit and it's really not mine either. But no matter what time frame you trade, you have to WAIT FOR PRICE TO MOVE AND IT MOVES THE SAME ON ALL TIME FRAMES. |
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What do you think just happened over the last 5 days or so? THE STRONG CRUSHED THE WEAK. Remember what I posted about the 90%? |
i
think what i will try now is let the price hit the go long/short line
to load the barrel and wait for 3 bars of the correct colour on 5m
chart before i pull the trigger. i will have to test it and see if that
prevents most of the whipsaws from just pulling the trigger as soon as
it hits the line.
i am finding go long/short is usually within 10 pips of sup/res, sometimes even 2 pips! and that isnt enough to confirm the reversal. because its using the pivot point of the bar that created the sup/res on a 5m chart its going to be a very small range usually so i guess i will have to use it as preparation for placing the trade and not the trigger. getting an error on the new candlecolour indicator "object name passed to objectdelete function cannot be an uninitialised or empty string". seems to come up when i change timeframes or load mt4. seems to work ok though. |
Or you can trade during volatile section. :D
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Or you can switch to the M15 chart. |
tro, nice chart there, you made it? very useful. :D I want one. :p
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http://i37.tinypic.com/i6z4oh.gif
You like SQUIGGLYS? Just plot lines 1, 2, and 3 standard deviations away from the average. |
http://i37.tinypic.com/b4utld.gif
Guess I am just OLD SCHOOL. I like HORIZONTAL LINES. So I plot them at 1, 2 and 3 std dev from 1 bar ago. But the shift is an input. :p |
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