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TheRumpledOne 09-03-2008 11:37 AM

Quote:

Originally Posted by edacsac (Post 66076)
I don't know what you mean by "price was below the moving average". Other than that, the only reason I bought was based on the previous conversation about 3 consecutive candles. I'm trying things as we go along along. I figured that if there are 3 red candles and you then go long, it should be the same to go short after 3 green candles. Thats all I was basing the trade on. Unlearning everything else. I wouldn't have done it normally. Actually I would'nt have even touched that whole move, since even my old indicators didn't catch it. No MA cross, Stochs where close to 100 yet price continued up and no reasonable candlestick indications. It was alsmost similar to a news spike or something.


Quote:

Originally Posted by edacsac (Post 66076)
I don't know what you mean by "price was below the moving average". Other than that, the only reason I bought was based on the previous conversation about 3 consecutive candles. I'm trying things as we go along along. I figured that if there are 3 red candles and you then go long, it should be the same to go short after 3 green candles. Thats all I was basing the trade on. Unlearning everything else. I wouldn't have done it normally. Actually I would'nt have even touched that whole move, since even my old indicators didn't catch it. No MA cross, Stochs where close to 100 yet price continued up and no reasonable candlestick indications. It was alsmost similar to a news spike or something.

You must learn the difference between when to LOAD THE CHAMBER and when to PULL THE TRIGGER.

When you see 3 or more RED candles, it is time to LOAD THE CHAMBER.

When you see a GREEN candle ( start to form and grow ), it is time to PULL THE TRIGGER.

DO YOU UNDERSTAND?

TheRumpledOne 09-03-2008 11:40 AM

Rule Of Thumb:

If You Are Losing Money Then You Should Not Be Trading More Than One Currency.

If You Are Losing Money, You Haven't Learned How To Trade Profitably.

The Way To Learn How To Trade Is To Trade The Same Currency Over And Over And Over Until You Master It.

When You Learn To Juggle, You Start With One Ball Not Three Or More!

MSW 09-03-2008 11:42 AM

Thanks for your enlightment TheRumpledOne

If you say that this thread is perfect for a newbie like me then I will follow the flow of this thread like a leaf :D

I am looking forward to your next enlightment while I learn about Trading Psychology just like you advise me to do. :)

edacsac 09-03-2008 11:44 AM

Quote:

Originally Posted by TheRumpledOne (Post 66092)
You must learn the difference between when to LOAD THE CHAMBER and when to PULL THE TRIGGER.

When you see 3 or more RED candles, it is time to LOAD THE CHAMBER.

When you see a GREEN candle ( start to form and grow ), it is time to PULL THE TRIGGER.

DO YOU UNDERSTAND?

Yes, I understand. I was interpretating it as let it rip after 3 red candles. I should've known better as I would have never done what I did last night using what I've learned up to that point. Now you say 3 red then a green start to grow. Can we flip it around and say 3 green then a red starts to grow?

TheRumpledOne 09-03-2008 11:47 AM

Quote:

Originally Posted by FXCaribbean (Post 66078)
ok another try ....


I still think the rules don"t work on 5mn. It is kind of obvious IMO because there are more candles (noise) on that timeframe.

But i would like to propose something on 5mn :

1) 3 following red candles =>
2) LONG
2.1) if open of next candle is higher than close of last red right, let it go 2 green
2.2) if NOT = open is lower => it is another RED comming => GO SHORT then shift 1 the 3 candles window and start to 1 rule 1
What you think ?

What I THINK doesn't matter.

What do YOU OBSERVE?

TheRumpledOne 09-03-2008 11:49 AM

Quote:

Originally Posted by edacsac (Post 66095)
Yes, I understand. I was interpretating it as let it rip after 3 red candles. I should've known better as I would have never done what I did last night using what I've learned up to that point. Now you say 3 red then a green start to grow. Can we flip it around and say 3 green then a red starts to grow?

Yes. See if you OBSERVE that happening.

TheRumpledOne 09-03-2008 11:51 AM

Quote:

Originally Posted by Skyline (Post 66079)
Hi TRO , as always you're unstoppable coding ! Great job !
Btw you could have saved some time to code the ask line since the metatrader platform could show also the ask line , just press F8 on chart and in the tab 'Common' flag the 'Show ask line' option ;)

Cheers,
Skyline

Yes, I saw that but... Then I would have to provide a template. By coding it in the indicator, it will appear.

TheRumpledOne 09-03-2008 12:03 PM

http://i33.tinypic.com/1z5u4h5.gif

WHY DO YOU LOSE?

They say 90% of traders FAIL!

If you think about it, shouldn't it be closer to 50%?

How can 90% of traders find themselves on the unprofitable side of the trade?

Right now, some are buying and some are selling. Don't you think it would be about 50 - 50? For every buyer, there's a seller or for every seller, there's a buy, right?

But, WAIT JUST A MINUTE!!

What if there was ONE BIG SELLER and a lot of little buyers... say perhaps 9 little buyers? What if that ONE BIG SELLER kept dropping the price? What if that ONE BIG SELLER pushed the price down far enough to wipe out the 9 little sellers? Wouldn't the ONE BIG SELLER have all of the money from the 9 little sellers? THINK ABOUT IT!!

DO YOU REALLY UNDERSTAND HOW THE FOREX MARKET WORKS?

If you are just joining this thread, make sure you start from page 1 and read through.

TO BE CONTINUED...

TheRumpledOne 09-03-2008 12:21 PM

TEA LEAVES

http://i34.tinypic.com/260aoo6.gif

If I told you to use TEA LEAVES to trade the market, wouldn't you think I was CRAZY?

How about if I said use ASTROLOGY?

How about if I said use NUMEROLOGY?

Would you consider those just as crazy?

How about if I put a bunch of SQUIGGLY LINES and COLORED MARKINGS on the chart and told you that I used a "secret" or not so secret formula, would you think I was crazy then? Perhaps you would be INTRIGUED by this formula. Perhaps you would be led to believe this formula would generate profits and you would then want to sign up to learn more about this formula and use it. Does this sound familiar?

HAVE YOU BEEN LED ASTRAY?

TO BE CONTINUED...

Sweet Pip 09-03-2008 12:22 PM

Quote:

Originally Posted by TheRumpledOne (Post 66102)

What if there was ONE BIG SELLER and a lot of little buyers... say perhaps 9 little buyers? What if that ONE BIG SELLER kept dropping the price? What if that ONE BIG SELLER pushed the price down far enough to wipe out the 9 little sellers? Wouldn't the ONE BIG SELLER have all of the money from the 9 little sellers? THINK ABOUT IT!!

Just noted that perhaps your statement has a typo...shouldn't it all read 9 little buyers as you began it...?

edacsac 09-03-2008 12:24 PM

Quote:

Originally Posted by TheRumpledOne (Post 66099)
Yes. See if you OBSERVE that happening.

I don't really observe anything happening consistently repeatable. Like I the ephpony I had a few days ago that you pointed out, about a candlestick closing greater than the immediate left and right candle to signal a change of direction. That wasn't useful last night as it didn't happen often.

If you have 3 candles going down and one starts to up, but then plummets low, what do you do then? What if you have 5 red candles then a green start?

How do you place your limit orders? I use market orders, but by the time I get a market order in, I've missed the action. I can't really figure out where to put a limit order if the (for example) last red candle hasn't closed yet. Like right now I have 3 greens, then a red started and moved lower then the open of the last green. By the time I get my order together I'm looking at a new green candle. So I'm either missing the action, or I'm mis-observing.

I'm not looking for hard answers because this thread is about learning to see, but may of your examples are perfect world examples.

bflag 09-03-2008 12:28 PM

Quote:

Originally Posted by TheRumpledOne (Post 65908)
http://i33.tinypic.com/2ew1dw8.jpg

LOOK AT THE CHART AND TELL ME WHAT YOU SEE.

OBSERVATIONS ONLY.

THIS IS KEY IN YOUR TRAINING TO NEVER LOSE AGAIN.

When price is going down take a red candle, if the next candle is red and breaks the low of previous candle there are a few pips to be taken at that point. Use green candles of course when price is going up. Support and resistance gives clues when price might turn.

This is what I see and have been using on a 15 minute chart(eur/usd) and has been working well. I shoot for 5 pips but if price is moving well I go for more.Stop loss of 5 pips.

TheRumpledOne 09-03-2008 12:29 PM

Do you really need an indicator to tell you what price is doing?

http://i37.tinypic.com/50qfti.gif

TheRumpledOne 09-03-2008 12:33 PM

HAVE YOU EVER SEEN A LINE CHART?

http://i38.tinypic.com/2hfrh8j.gif


The BLUE line is PRICE drawn from close to close on a bar chart.

The trick is to use a simple 1 period moving average of close ;)

Does this make it any clearer for you to see?

TheRumpledOne 09-03-2008 12:37 PM

Quote:

Originally Posted by bflag (Post 66109)
When price is going down take a red candle, if the next candle is red and breaks the low there are a few pips to be taken at that point. Use green candles of course when price is going up. Support and resistance gives clues when price might turn.

This is what I see and have been using on a 15 minute chart(eur/usd) and has been working well. I shoot for 5 pips but if price is moving well I go for more.Stop loss of 5 pips.

What does "take a red candle" mean?

Do you mean to short at the low of the candle?

bflag 09-03-2008 12:39 PM

Quote:

Originally Posted by TheRumpledOne (Post 66114)
What does "take a red candle" mean?

Do you mean to short at the low of the candle?

Yes if current candle is red and breaks low of previous red candle

photofinish 09-03-2008 12:58 PM

can you really never lose?
 
I'm new to this site, but I've been reading the threads here for quite a time, and this one has really caught my eye.

Can you really apply these principles and never lose? Is it possible to never lose on a currency trade or ???????

TheRumpledOne 09-03-2008 01:01 PM

Quote:

Originally Posted by bflag (Post 66116)
Yes if current candle is red and breaks low of previous red candle

http://i38.tinypic.com/bhhbwp.gif

You'll have to be quick!!

Check this out...

+/- Low is the number of consecutive higher/lower lows.

H1L0 is the number of pips from the previous candle high to the current candle low.

LL(x) is the percentage of the time price making lower lows over the last x bars.

It's nice to know the REAL TIME stats of the currency pair you are trading.

TheRumpledOne 09-03-2008 01:14 PM

READ Individual Psychology of a Trader

photofinish 09-03-2008 01:31 PM

how about this?
 
Hmmm... I've read that article on trader psychology.

I'm guessing you kinda don't want to answer my question straight out. I guess I can understand that.

How about this:

For all of us reading this thread, would you post a series of trades at the time you make them so we can see they're live trades? It'd be great if we can see them in action and see your comments and how you actually use your principles and your enhanced indicators?

The questions you ask in your posts are good, but seeing what you actually do as you do it would be great.

TheRumpledOne 09-03-2008 02:22 PM

Quote:

Originally Posted by photofinish (Post 66125)
I'm new to this site, but I've been reading the threads here for quite a time, and this one has really caught my eye.

Can you really apply these principles and never lose? Is it possible to never lose on a currency trade or ???????

As stated, ever trade may NOT be a winner but at the end of the day, week, month, year, you can come out ahead. To me, that's NEVER LOSING!

TheRumpledOne 09-03-2008 02:25 PM

Quote:

Originally Posted by photofinish (Post 66132)
Hmmm... I've read that article on trader psychology.

I'm guessing you kinda don't want to answer my question straight out. I guess I can understand that.

How about this:

For all of us reading this thread, would you post a series of trades at the time you make them so we can see they're live trades? It'd be great if we can see them in action and see your comments and how you actually use your principles and your enhanced indicators?

The questions you ask in your posts are good, but seeing what you actually do as you do it would be great.

BE PATIENT!

I am trading, programming, talking the chat room, reading, posting, etc...

I have already posted LIVE TRADES? What do you think I am posting? Look at the white charts upper left hand corner... those are the times.

TheRumpledOne 09-03-2008 02:33 PM

from THE TRADING ZONE, Mark Douglas

page 121

1) Anything can happen

2) You don't need to know what is going to happen next in order to make money.

3) There is a random distribution between the wins and losses for any given set of variables that define an edge.

4) An edge is nothing more than an indication of a higher probability of one thing happining over another.

5) Every moment in the market is unique.

page 185

I AM A CONSISTENT WINNER BECAUSE:

1) I objectively indentify my edges.

2) I predefine the risk of every trade.

3) I completely accept the risk or I am willing to let go of the trade.

4) I act on my edges without reservation or hesitation.

5) I pay myself as the market makes money available to me.

6) I continually monitor my susceptibility for making errors.

7) I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.

TheRumpledOne 09-03-2008 05:44 PM

TRO TREND MAP HISTOGRAM

http://i37.tinypic.com/nn2wrn.gif

What do you see?

pintodave 09-03-2008 06:09 PM

The triangles show the time that the CAD spent time under the green dashed line and over the dashed line

metalorn 09-03-2008 07:24 PM

hello,

on the 5m chart today at 23:10 gmt a second green candle started to form after a series of 3 red candles, and the 15m and 30m charts were green also. I traded 3 pips with confidence. thank you rompledone.

best regards.

rafa.

edit: the movement's been good for 13 pips.
edit 2: and more... but I took what I wanted.

metalorn 09-03-2008 07:30 PM

hhmmm... the histogram grows as the price retraces through fibbonacci!!!

Quote:

Originally Posted by TheRumpledOne (Post 66165)
TRO TREND MAP HISTOGRAM



What do you see?


metalorn 09-03-2008 09:19 PM

no, wait.... the histogram represents the time that price has been above and below the 1.0615 level.

Quote:

Originally Posted by TheRumpledOne (Post 66165)
TRO TREND MAP HISTOGRAM



What do you see?


newtrend 09-03-2008 10:09 PM

Quote:

Originally Posted by TheRumpledOne (Post 65908)
http://i33.tinypic.com/2ew1dw8.jpg

LOOK AT THE CHART AND TELL ME WHAT YOU SEE.

OBSERVATIONS ONLY.

THIS IS KEY IN YOUR TRAINING TO NEVER LOSE AGAIN.



I see two doji and price reversing after doji.

FXCaribbean 09-03-2008 11:15 PM

Quote:

Originally Posted by metalorn (Post 66200)
no, wait.... the histogram represents the time that price has been above and below the 1.0615 level.

I think that answer is very good.

May i add that each of these histogram are the cumulative one of the highest R before a blue (as S) around the same size.

The red line and blue line aren't all the same size. Then TRO must have been doing something on this formula.

MSW 09-04-2008 01:48 AM

Quote:

Originally Posted by TheRumpledOne (Post 66165)
TRO TREND MAP HISTOGRAM

http://i37.tinypic.com/nn2wrn.gif

What do you see?

Well what I see is the number of green candle is greater than the number of red candle when the biggest green triangle happen.

TheRumpledOne 09-04-2008 02:10 AM

Looks like you are having fun!!

It also looks like some of you are learning how to SEE.

That will come in handy. ;)

TheRumpledOne 09-04-2008 09:26 AM

Another nice scalp.


http://i35.tinypic.com/u9d0p.gif

I am getting requests to show trades as they happen.

I'll do the best that I can.

pintodave 09-04-2008 09:28 AM

Goodmorning TRO and all,

Question for you. The Green line - is it a fib line? I *think* it is, but I do not want to assume anything.

If it is a fib line, I have a couple of more questions. Why do you think fib retracements work so well, self-fulfilling prophecy since it is used by so many traders?

Also, what is the correct timeframe to use, for example, intra day would you use 21 bar, 1 day, 2 day, 1 week, etc... Or do you use a combination to help get the "big picture"?

Thanks,
David

TheRumpledOne 09-04-2008 09:37 AM

GET READY!

http://i33.tinypic.com/29gbbco.gif

TheRumpledOne 09-04-2008 09:40 AM

IN THE TRADE AT 102.65

http://i35.tinypic.com/vhgjyw.gif

TheRumpledOne 09-04-2008 09:43 AM

OUT AT 192.70 LIMIT SELL!

http://i38.tinypic.com/30cwthl.gif


You can see price spiked above 192.70.

TheRumpledOne 09-04-2008 09:51 AM

SETUP #2 GET READY

http://i35.tinypic.com/2gw59vk.gif

TheRumpledOne 09-04-2008 09:53 AM

LIMIT BUY ENTRY AT 192.50

http://i36.tinypic.com/145ifl.gif

TheRumpledOne 09-04-2008 10:01 AM

BUYING MORE AT 192.43

http://i33.tinypic.com/2n66urb.gif


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