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Sweet Pip 09-12-2008 04:09 AM

Quote:

Originally Posted by TheRumpledOne (Post 67635)
WHAT DOES A RED CANDLE MEAN TO YOU?


WHAT DOES A GREEN CANDLE MEAN TO YOU?


Please copy the questions and post your answers.

Ok, back to this question, I have a couple too :D

Would a candle that started out as a red candle...opened lower than the previous candle... be considered a red candle even if it turned green at any point for the purpose of entering a trade at the go/short line? Same with green?

What does a green or red candle mean to you? I know, you'll probably say it doesn't matter what you think, it only matters what I think...or something like that :D ...but just curious.

Thanks again :)

metalorn 09-12-2008 04:13 AM

another example, to BUY or not to BUY?

look at the top image... as far as I know, that's a BUY. Now look at the second image with more information on it. You can see price is around resistance, so we better DON'T BUY.

I'm concerned about using only the EZ BIAS. I know I used it and it work like a charm one day, but not the next one.

Please comment anyone.

http://i35.tinypic.com/3148s4i.gif

http://i34.tinypic.com/hrao37.gif

Sweet Pip 09-12-2008 04:14 AM

Quote:

Originally Posted by Shane (Post 67689)
I do not understand your reasoning.

The way I understand it is that if a large enough portion of people started using the same system which produced a signal: "buy LOL/USD at price X.

With everyone buying at X demand increases, supply inversely decreases, therefore the price would go up....which is what you would want (if indeed your goal is to profit).

Therefore your "competition" has in fact become your teammate.

Or is my logic flawed?

Besides that, I don't think that any one of us (or even all of us here combined) could make a big enough bang to influence a >$2,000,000,000/day market.

I'm not trying to be a smarta**, I'm just curious about why you think that way.

I think the flaw in that logic is if everyone is buying...who are you buying from? For every trade, there is an opposite trade. Or, if everyone wanted to sell, then someone has to buy what you're selling. That's why it's called a zero sum game. If you profit, someone has to have a loss.

Sweet Pip 09-12-2008 04:23 AM

Quote:

Originally Posted by metalorn (Post 67693)
another example, to BUY or not to BUY?

look at the top image... as far as I know, that's a BUY. Now look at the second image with more information on it. You can see price is around resistance, so we better DON'T BUY.

I'm concerned about using only the EZ BIAS. I know I used it and it work like a charm one day, but not the next one.

Please comment anyone.

http://i35.tinypic.com/3148s4i.gif

http://i34.tinypic.com/hrao37.gif

I had thought that you'd be looking to short when the price is up around the resistance line, not to buy at resistance. Buy time is when price is down around the support line...is that not how it's supposed to work :confused:

ewokuk 09-12-2008 04:52 AM

Quote:

Originally Posted by Sweet Pip (Post 67695)
I had thought that you'd be looking to short when the price is up around the resistance line, not to buy at resistance. Buy time is when price is down around the support line...is that not how it's supposed to work :confused:

the problem is in that big uptrend there, when was price ever around the support line and golong line? ONCE at the very start and hasnt been anywhere near it since, so youd never make a trade, that was my earlier point, you couldnt have taken it when it WAS at the golong line because it had probably been going down before that and would have been a red H1.

and when its going up like that and you see a red bar start to form, you cant take a short as it WILL be against the H1 bias. so lets say it continues downwards with a couple more red bars. by that time it is way past the go short line so you still cant take a short on it even though H1 bias might have gone red by now.

on that chart, support is going to be somewhere around 1.7585 so he cant take a long, hes miles from the golong line, he also cant take a short as H1 is not going to go red for a long time yet and theres a massive uptrend so clearly very risky.


so basically, unless its a ranging market, youll not make a single trade based on the SSRR indicator as far as i can work out?

this is why im not getting it, as far as i can see, unless its going up down up down up down in a tight range, you wont get a single good trade signal. which is why dragon must be doing something of his own and not following the golong goshort lines.

Shane 09-12-2008 05:08 AM

Quote:

Originally Posted by Sweet Pip (Post 67694)
I think the flaw in that logic is if everyone is buying...who are you buying from? For every trade, there is an opposite trade. Or, if everyone wanted to sell, then someone has to buy what you're selling. That's why it's called a zero sum game. If you profit, someone has to have a loss.

Thanks for your reply Sweet Pip,

I'll spend a little more time thinking before posting in future. :o

dragon33 09-12-2008 05:14 AM

Quote:

Originally Posted by Sweet Pip (Post 67695)
I had thought that you'd be looking to short when the price is up around the resistance line, not to buy at resistance. Buy time is when price is down around the support line...is that not how it's supposed to work :confused:


What DO YOU REALLY SEE???

I see a green H1 and D1
I see it is all up
I see resistance is at 1.7685

Which way do we trade???

You go short under the go short line only and only when H1 is RED. If D1 is green take what you can (small pips)

The red line in the right corner is a SL with profit .

If you are following that pair now it is a SELL with small pips H1 is RED
If you break resistance you good go long (H1 and D1 are green why not take that, looks good to me) but be carefull it is allready a huge up of more than 100pip. (remember daily range)
Lock in your profit as soon as possible.
http://i37.tinypic.com/2jcc3er.gif

You SEE it is not difficult.
So if it breaks resistance be ready to close your trade

ewokuk 09-12-2008 05:30 AM

your entry marked on there, was that a long taken when it broke previous resistance on the large green bar to the right of the entry line (after the 2 red bars)?

what you seem to be doing is going long if it breaks previous resistance line or short if it breaks previous support line and H1 colour is the correct colour. this may be what you are doing that is different from my understanding. i understood that you would not go long unless 1: price crosses golong line and 2: h1 is green (which as explained earlier is not going to happen unless its ranging).

it sounds risky to me taking a trade as soon as it breaks a support or resistance, surely it may only beak resistance by a couple of pips before reversing again, it IS resistance after all, but IF thats what you are doing then it seems to be working and would certainly explain how i end up doing the opposite a lot of the time.

dragon33 09-12-2008 05:39 AM

My results for today

http://i37.tinypic.com/258xkwg.jpg

ewokuk 09-12-2008 05:40 AM

you are going to have to make those black bars a lot wider soon to cover all the 0's in your balance ;)

why do you use m15 not m5?

dragon33 09-12-2008 05:44 AM

Quote:

Originally Posted by ewokuk (Post 67705)
your entry marked on there, was that a long taken when it broke previous resistance on the large green bar to the right of the entry line (after the 2 red bars)?

what you seem to be doing is going long if it breaks previous resistance line or short if it breaks previous support line and H1 colour is the correct colour. this may be what you are doing that is different from my understanding. i understood that you would not go long unless 1: price crosses golong line and 2: h1 is green (which as explained earlier is not going to happen unless its ranging).

it sounds risky to me taking a trade as soon as it breaks a support or resistance, surely it may only beak resistance by a couple of pips before reversing again, it IS resistance after all, but IF thats what you are doing then it seems to be working and would certainly explain how i end up doing the opposite a lot of the time.

The first i try to figure out is it UP or DOWN in this case UP
I would have chosen to buy on the green candle after the two red because H1 is green and we are up. Don't wait for the clos of that bar.
It sounds only risky if you are up for another 30 pip, maybe it wil i don't know, you. So lock in your profit if it goes good and you are still greedy put a profit SL so you never lose.

dragon33 09-12-2008 05:49 AM

Quote:

Originally Posted by ewokuk (Post 67709)
you are going to have to make those black bars a lot wider soon to cover all the 0's in your balance ;)

why do you use m15 not m5?

On m15 i have more time to make decisions because my spread is 5.

There is more space between sup res and the go long and short line.
On m5 you can't do it with a spread of 5, its to risky.

There can't be enough zero's.
If it does have a lot of zero's and i can live of it(so i don't have to work in shifts anymore), i would be happy.
If i make so much i can give it al out i will help other family's with cancer children. I know they could use some extra money. I wil start a funds for those parents who really need it. That would be my contribution to the society.

dragon33 09-12-2008 07:18 AM

The most important thing i have learned the last few weeks is that you have to wait for the right moment.
In the past i tought i could jump in anywhere. I always learned you have to wait till the candles close, yeh hell you absolutely don't. If you do that you are missing the priceaction!!!
Now with the dynamic SR indicator i know when it is time to trade.
I see the difference between green and red. I know when there is a priceaction.
For me this is the best topic i've ever found on the net. I did 34 trades with this dynamic indicator and scored 27 wins and 4 break even (pitty my spread is to big). That is not just luck

See you next time, i have to sleep because i must work the nightshift this evening.

Happy trading.

ewokuk 09-12-2008 07:43 AM

ok ive got a $250 demo account to play with now.

opened eurusd, saw H1 red, M15 red and it started pushing support down so i went short. made 19 pips then got out. could have had about 15 pips more but im never going to be too dissapointed about making 19 pips profit.

im going to do exactly what i would do on a live account with this demo. if ive been consistently profitable over the next 2 weeks i will open a small live account again when i have another week off work in 3 weeks.

http://i36.tinypic.com/rs5s2b.gif

dragon33 09-12-2008 08:17 AM

Well done, this is the way it works.

You could set the fib levels to true to chose a target or you can draw them manual.

I am not predecting anything but 38% would be a good one.
Be ready to close your trade manual with smaller profit if it don't reach 38% level.

If you have a big run up you have a possible target at 50% level, even 61.8%
but learn to catch the small pips the rest comes later.

My plan is to catch 500 pips to grow my equity everything above after the month is for my pocket. If i have a consistance of that i'll be rich in about 2y.

bnbb2004 09-12-2008 08:28 AM

dragon I just sent you note...please reply when you get the chance. thx! :-)

dragon33 09-12-2008 08:42 AM

Quote:

Originally Posted by bnbb2004 (Post 67742)
dragon I just sent you note...please reply when you get the chance. thx! :-)

Watch your mail

bnbb2004 09-12-2008 09:00 AM

Quote:

Originally Posted by dragon33 (Post 67747)
Watch your mail

Got it...thx! :-)

TheRumpledOne 09-12-2008 09:06 AM

Quote:

Originally Posted by Shane (Post 67682)
Thanks for the tip TRO, I'll look it up.
I am kind of learning as I go by checking out the code of other indicators and then looking up the dictionary/help file.
I must say that I am really starting to enjoy this. (hmmm...does that mean I am becoming a geek?)

The only problem is: more time "playing" = less time trading.

YES.... you'll wind up with a case of OCPD like me. :p

OCPD - Obsessive Compulsive Programming Disorder...LOL!!

TheRumpledOne 09-12-2008 09:50 AM

Quote:

Originally Posted by metalorn (Post 67685)
thank you ivirus006. I agree with your comments.

I wanted to point out that if the tro_sr_rr indicator was not there, I would have enter a BUY at 1.7585 when the bar was rising. On Sept. 10th I made 7 winning trades on the EURUSD based only on the 1D and 1H candles, but on the 11th, it didn't work. I'm trying to find out why.

Why?

Because, in trading, ANYTHING CAN HAPPEN!!

bnbb2004 09-12-2008 09:51 AM

Hello All!

Ok, sry if these questions are pretty newbie-ish, but I'm trying to understand this...We only get in once the candle crosses the SR line (go long/short) before getting in the position, right? If the candle is green and h1 is red, then we wait??

What about when the candle starts as green (crossing the line) and then midway through turns red (against the h1)?

TheRumpledOne 09-12-2008 10:01 AM

Quote:

Originally Posted by dragon33 (Post 67687)
Hey guys,

I want to tell you my story again.
If you have read the whole post you know i need the money because of the illness issues with my little daughter.
I am trading live for a year now, actually it is 1.5y but the first 6 months i blow my account with 1250 euro, money i needed hard. My thing was if some people can do it i can to. So i funded my account again with 2000 euro money i couldn't miss. But hey thats me i like taking calculated risks. I have a good job so why not i can cover that money in about 3 months paying all my other bills. Then i started with demo something i never did before. When my demo was going the right way i went live to. That way i was able to make 800 euro in a year. Not bad because the bank don't turn such interests on 2000 euro.
Then i came across this thread. Read it and again and ...
This was amazing such view of forex i never read it before. Then i started thinking and used my healthy brains. (at least i think they are healthy)
What if there was some truth in this topic. I tried to make contact with TRO and told him the above story and he invited me immediately in his chatroom so HE IS REALLY A GOOD GUY in my eyes. I asked other people for help but no-one took action and TRO did. That ment a lot to me.
The stupid thing was i never made contact because i am a little shy and English is not my mother language so i am always scared i don't understand what people are saying.
So i read the topic again and started trying. The only mistake i did was trying for real but hey thats me again. Real money sharp my focus.
It worked from the very first time 2 pip 5 pip and after a few trades even better. You all know i have a spread of 5 so there is a lot of money to take before i am in profit. I am still learning but the last week i made more money then in a year so i am very excited now. LEARN TO TAKE 2 OR 5 OR 7 PIPS THE REST COMES LATER.
All i want to say is everything is in this topic. If you don't get it read again. Ask the things you don't understand. Tro's way of teaching is that way you have to think yourself. You must SEE it, we can't do it for you. We only can point you in the right direction. If you SEE IT YOU GOT IT it is really that simple.

Happy trading and learning everyone

Hey dragon, that's a great story. Thank you for sharing.

But there is one little misunderstanding. I am NOT trying to get people to THINK. I want them to STOP THINKING and start SEEING!!

THINKING gets in the way.

Do you drive a car? Do you THINK when you drive or do you just DRIVE? Don't you SEE the road, traffic, people, lights, signs, etc.. and react to it? Sometimes, you look for clues so you can avoid dangers like a car turning into your lane without signaling or someone who isn't looking and may step into your path.

When you drive, how much time do you spend looking at your dashboard "indicators" vs. looking out the windshield and mirrors? Do you need an indicator to tell you which way the traffic is going or can you SEE it?

Why not trade the same way?

TO BE CONTINUED...

TheRumpledOne 09-12-2008 10:07 AM

Quote:

Originally Posted by Sweet Pip (Post 67688)
Hi TRO,
What do those up arrowheads under the support line mean? Why are they only under the support line, only "up" arrowhead (vs no "down" ones), and what do the different colors mean?
Thanks :)

The blue arrowhead indicates which bar made the support line.

The red arrowhead indicates which bar made the resistance line.

The gray arrowhead indicates how far back the indicator is looking for highs/lows. The default is 21 bars with a 1 bar shift. So TRO SR RR looks between bar[1] and bar[21]. That's what the (21).1 means.

TheRumpledOne 09-12-2008 10:16 AM

Quote:

Originally Posted by Afro88 (Post 67691)
The red arrow is where TRO places a resistance line. The blue arrow is the bar TRO uses to place the support line. The other one is 21 bars before the current bar (what he has refered to as "bar 0"). In that chart it looks like he hadn't updated the support and resistance lines yet (not sure why).

This is what I've gathered from the thread so far (sorry if this jumps the gun TRO, but you've outlined all of this over the course of the first 30 or so pages).

Over the past 21 bars, place your resistance line at the highest point. Place your support line at the lowest point. Place your go long and go short lines at the pivot points of the bars that you used for the support and resistance lines (pivot point is (high+low+close)/3). Go long when "bar 0" opens below the go long line and moves above it. Go short when "bar 0" opens above the go short line and moves below it.

Set your stop loss at a pip or two above the support/resistance line depending if you're going long or short. Set your limit 10 pips from your entry. Alternatively, don't set a limit and move your stop loss up as price moves up to try and catch the bigger moves. I haven't tried this yet. I'm very happy with 10 pips a day, your account can grow pretty quickly with this kind of consistent profit.

Very very simple technique, but seems to work (so far on my demo account). Back testing it is alot of work though, you can't just turn on some indicators and look for crossovers etc. You have to manually move lines around etc. I don't use MT4, so I haven't tried the algorithms that TRO has posted.



You do NOT need to back test.

Either you SEE this works or you don't.



The market doesn't care about back test. You have to TRADE IN THE MOMENT.

dragon33 09-12-2008 10:19 AM

Quote:

Originally Posted by TheRumpledOne (Post 67775)
Hey dragon, that's a great story. Thank you for sharing.

But there is one little misunderstanding. I am NOT trying to get people to THINK. I want them to STOP THINKING and start SEEING!!

THINKING gets in the way.

Do you drive a car? Do you THINK when you drive or do you just DRIVE? Don't you SEE the road, traffic, people, lights, signs, etc.. and react to it? Sometimes, you look for clues so you can avoid dangers like a car turning into your lane without signaling or someone who isn't looking and may step into your path.

When you drive, how much time do you spend looking at your dashboard "indicators" vs. looking out the windshield and mirrors? Do you need an indicator to tell you which way the traffic is going or can you SEE it?

Why not trade the same way?

TO BE CONTINUED...

Actually i ment seeing in place of thinking.
It is completely right what you said, first i didn't saw it but now i do and it is working like hell. The last few days were real fun.

TheRumpledOne 09-12-2008 10:24 AM

Quote:

Originally Posted by Sweet Pip (Post 67692)
Ok, back to this question, I have a couple too :D

Would a candle that started out as a red candle...opened lower than the previous candle... be considered a red candle even if it turned green at any point for the purpose of entering a trade at the go/short line? Same with green?

What does a green or red candle mean to you? I know, you'll probably say it doesn't matter what you think, it only matters what I think...or something like that :D ...but just curious.

Thanks again :)

A red candle doesn't mean anything to me.

A green candle doesn't mean anything to me.

All that matters is what price is doing AT THE MOMENT.

A red candle INDICATES that the sellers have pushed the price down.

A green candle INDICATES that the buyers have pushed the price up.

You give MEANING to everything. Things do not have meaning.


TO BE CONTINUED...

bnbb2004 09-12-2008 10:26 AM

Quote:

Originally Posted by dragon33 (Post 67740)
Well done, this is the way it works.

You could set the fib levels to true to chose a target or you can draw them manual.

I am not predecting anything but 38% would be a good one.
Be ready to close your trade manual with smaller profit if it don't reach 38% level.

If you have a big run up you have a possible target at 50% level, even 61.8%
but learn to catch the small pips the rest comes later.

My plan is to catch 500 pips to grow my equity everything above after the month is for my pocket. If i have a consistance of that i'll be rich in about 2y.

At what point do u decide to exit on the small and longer runs?? Especially the longer ones when h1 & d1 match up? TIA!

TheRumpledOne 09-12-2008 10:27 AM

Quote:

Originally Posted by metalorn (Post 67693)
another example, to BUY or not to BUY?

look at the top image... as far as I know, that's a BUY. Now look at the second image with more information on it. You can see price is around resistance, so we better DON'T BUY.

I'm concerned about using only the EZ BIAS. I know I used it and it work like a charm one day, but not the next one.

Please comment anyone.

http://i35.tinypic.com/3148s4i.gif

Look at the chart.

You tell me where support is and where resistance is.

daedalus 09-12-2008 10:29 AM

Quote:

Originally Posted by ewokuk (Post 67731)

Ok, now this is my understanding of how to correctly use this indicator... but others in this thread (dragon) have said its used to scalp in between the dots... I thought the dots represented the trigger lines for getting long and short?

Can you clarify TRO? Did ewokuk make the right trade? Thats how i've been interpreting the indicator setups.

TheRumpledOne 09-12-2008 10:29 AM

Quote:

Originally Posted by Sweet Pip (Post 67694)
I think the flaw in that logic is if everyone is buying...who are you buying from? For every trade, there is an opposite trade. Or, if everyone wanted to sell, then someone has to buy what you're selling. That's why it's called a zero sum game. If you profit, someone has to have a loss.


The FLAW is focusing outside yourself.

DO NOT CONCERN YOURSELF WITH "EVERYONE".

TheRumpledOne 09-12-2008 10:32 AM

Quote:

Originally Posted by ewokuk (Post 67696)
the Problem Is In That Big Uptrend There, When Was Price Ever Around The Support Line And Golong Line? Once At The Very Start And Hasnt Been Anywhere Near It Since, So Youd Never Make A Trade, That Was My Earlier Point, You Couldnt Have Taken It When It Was At The Golong Line Because It Had Probably Been Going Down Before That And Would Have Been A Red H1.

And When Its Going Up Like That And You See A Red Bar Start To Form, You Cant Take A Short As It Will Be Against The H1 Bias. So Lets Say It Continues Downwards With A Couple More Red Bars. By That Time It Is Way Past The Go Short Line So You Still Cant Take A Short On It Even Though H1 Bias Might Have Gone Red By Now.

On That Chart, Support Is Going To Be Somewhere Around 1.7585 So He Cant Take A Long, Hes Miles From The Golong Line, He Also Cant Take A Short As H1 Is Not Going To Go Red For A Long Time Yet And Theres A Massive Uptrend So Clearly Very Risky.


So Basically, Unless Its A Ranging Market, Youll Not Make A Single Trade Based On The Ssrr Indicator As Far As I Can Work Out?

This Is Why Im Not Getting It, As Far As I Can See, Unless Its Going Up Down Up Down Up Down In A Tight Range, You Wont Get A Single Good Trade Signal. Which Is Why Dragon Must Be Doing Something Of His Own And Not Following The Golong Goshort Lines.


You Have To Learn To Wait For The Trade.

You Only Need One Good Trade A Day.

TheRumpledOne 09-12-2008 10:34 AM

Quote:

Originally Posted by dragon33 (Post 67724)
The most important thing i have learned the last few weeks is that you have to wait for the right moment.
In the past i tought i could jump in anywhere. I always learned you have to wait till the candles close, yeh hell you absolutely don't. If you do that you are missing the priceaction!!!
Now with the dynamic SR indicator i know when it is time to trade.
I see the difference between green and red. I know when there is a priceaction.
For me this is the best topic i've ever found on the net. I did 34 trades with this dynamic indicator and scored 27 wins and 4 break even (pitty my spread is to big). That is not just luck

See you next time, i have to sleep because i must work the nightshift this evening.

Happy trading.

You mean they taught you BACKWARDS?

TheRumpledOne 09-12-2008 10:39 AM

Quote:

Originally Posted by ewokuk (Post 67705)
your Entry Marked On There, Was That A Long Taken When It Broke Previous Resistance On The Large Green Bar To The Right Of The Entry Line (after The 2 Red Bars)?

What You Seem To Be Doing Is Going Long If It Breaks Previous Resistance Line Or Short If It Breaks Previous Support Line And H1 Colour Is The Correct Colour. This May Be What You Are Doing That Is Different From My Understanding. I Understood That You Would Not Go Long Unless 1: Price Crosses Golong Line And 2: H1 Is Green (which As Explained Earlier Is Not Going To Happen Unless Its Ranging).

it Sounds Risky To Me Taking A Trade As Soon As It Breaks A Support Or Resistance, Surely It May Only Beak Resistance By A Couple Of Pips Before Reversing Again, It Is Resistance After All, But if Thats What You Are Doing Then It Seems To Be Working And Would Certainly Explain How I End Up Doing The Opposite A Lot Of The Time.

Trading Is Risky.

dragon33 09-12-2008 10:46 AM

Quote:

Originally Posted by bnbb2004 (Post 67783)
At what point do u decide to exit on the small and longer runs?? Especially the longer ones when h1 & d1 match up? TIA!

I do not pinpoint it is a decision at the moment.