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-   -   Never Lose Again!! (http://forums.babypips.com/show-me-money-daytrading/16021-never-lose-again.html)

TheRumpledOne 09-10-2008 07:44 AM

DO YOU SEE THE REASON WHY YOU MUST NOT TRADE AGAINST THE H1 CANDLE?

http://i36.tinypic.com/ezhco8.gif

Going SHORT with H1 at the RANDOMLY CHOSEN HORIZONTAL LINES paid off again!!

Do you wonder why you have SQUIGGLY LINES on your chart in the first place?

TheRumpledOne 09-10-2008 07:48 AM

ANY QUESTIONS?

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


Can trading PROFITABLY really be THIS SIMPLE?

40 PIPS LONG and 50 PIPS SHORT trading with the H1 candle color.

You mean I don't have to pay hundreds or thousands of dollars for indicators, systems and education to make money trading FOREX?

HOW CAN THAT BE?

DO NOT BE FOOLED!

dragon33 09-10-2008 07:54 AM

I would took the 5 pips. There will be another chance soon.
According to using sup res there are a lot of chances/day so why not waiting and be happy with 5

TheRumpledOne 09-10-2008 08:10 AM

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


I loaded the RANDOM HORIZONTAL LINES for the 187.xx range.

ewokuk 09-10-2008 08:13 AM

Quote:

Originally Posted by bearpaw (Post 67232)
Tuesday

21 trades = 133 pips

A great day, especially after the net zero day.

Things feel like they are beginning to click, but we shall see. I think in the long run, the latest version of SR RR might be best with the bias on. That would mean less trades but less risk as well.

Till next time...

BearPaw

which pair were you trading? and were you using SR RR on 5min chart or higher? did you have a stoploss set?

im struggling with the SR RR, tried a few on eurusd but didnt win much. i set a 10 pip stoploss and seem to get stopped a lot.

dragon33 09-10-2008 08:13 AM

Hey TRO as i told you before in your mail it works really well.
I was never so much succesful as last week.
I made 49 trades since last wednesday and i am over 1000 pips.
Losses are 177 pips just because i act sometimes to fast against the 1h candlecolor.
Next week i will try the random horizontal lines.

This is just crazy, why didn't i see this before. My life will change now i have the money and the knowledge how to trade.
Finally i can pay for my daughters treatment without selling my house.

ewokuk 09-10-2008 08:16 AM

Quote:

Originally Posted by dragon33 (Post 67240)
Hey TRO as i told you before in your mail it works really well.
I was never so much succesful as last week.
I made 49 trades since last wednesday and i am over 1000 pips.
Losses are 177 pips just because i act sometimes to fast against the 1h candlecolor.
Next week i will try the random horizontal lines.

This is just crazy, why didn't i see this before. My life will change now i have the money and the knowledge how to trade.
Finally i can pay for my daughters treatment without selling my house.

over 1000 pips in 49 trades is more than 20 pips per trade. what stoploss do you set?

TheRumpledOne 09-10-2008 08:28 AM

http://i38.tinypic.com/2ilocj9.gif

Are you wondering how/why this seems to work EVERY TIME?

Does the answer to that question really matter?

If is WORKS, isn't that enough?

If you drive a car, do you know why/how gasoline is converted into rotational energy so you can drive? Does the answer to that question really matter or do you just want to drive?

Do you want to just make money trading FOREX?

TheRumpledOne 09-10-2008 08:30 AM

LOOK AT THE TIME IN THE UPPER LEFT HAND CORNER OF THE LAST CHART.


NOW, LOOK AT THE TIME IN THE UPPER LEFT HAND CORNER OF THIS CHART.



http://i36.tinypic.com/154kj1e.gif


DO YOU SEE HOW LONG IT TAKES TO MAKE MONEY?

dragon33 09-10-2008 08:32 AM

My target is 20 pips but if i can only make 5 it is ok. I have based my trades only on the colors and it works. Watch the charts from TRO. It looks difficult but IT IS NOT. I am just a guy like you who has learned to use EMA's etc. If you use those indicators you can gain profits but you wil lose also because if a signal is triggered sometimes the priceaction is past and after entering the trend go against you
I don't use SL never did only for my daily strategy and that is 50pip.
I trade my own system mixed with TRO his lessons and it works really wel.
Actually i am going to drop my system because it can't tip to what i have learned from TRO.
If the trend is going against me i stop the trade even if i can make a win after some candles.

Shane 09-10-2008 08:32 AM

Quote:

Originally Posted by TheRumpledOne (Post 67235)
ANY QUESTIONS?

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


Can trading PROFITABLY really be THIS SIMPLE?

40 PIPS LONG and 50 PIPS SHORT trading with the H1 candle color.

You mean I don't have to pay hundreds or thousands of dollars for indicators, systems and education to make money trading FOREX?

HOW CAN THAT BE?

DO NOT BE FOOLED!

Hi all,

I love your work TRO,

Before I can answer your previous question about spotting any losers on the chart, I need a little more info:

What do you define as a loser?
ie...
What stop level are you using for these particular trades?
How many pips will you let the price drop from peak profit before you exit the trade?

cheers
...and thanks heaps for all the free indicators and education.

As we say here in Australia - Good onya mate, you're a bloody legend!:D

TheRumpledOne 09-10-2008 08:39 AM

Quote:

Originally Posted by dragon33 (Post 67240)
Hey TRO as i told you before in your mail it works really well.
I was never so much succesful as last week.
I made 49 trades since last wednesday and i am over 1000 pips.
Losses are 177 pips just because i act sometimes to fast against the 1h candlecolor.
Next week i will try the random horizontal lines.

This is just crazy, why didn't i see this before. My life will change now i have the money and the knowledge how to trade.
Finally i can pay for my daughters treatment without selling my house.

GOOD FOR YOU!!

What EXACTLY are you doing to be successful.

Please post a chart so others may benefit.

WHATEVER YOU DO, DO NOT CHANGE WHAT YOU ARE DOING IF YOU ARE PROFITABLE!!

YOU ONLY NEED ONE PROFITABLE METHOD/STRATEGY.

TheRumpledOne 09-10-2008 08:47 AM

Quote:

Originally Posted by Shane (Post 67245)
Hi all,

I love your work TRO,

Before I can answer your previous question about spotting any losers on the chart, I need a little more info:

What do you define as a loser?
ie...
What stop level are you using for these particular trades?
How many pips will you let the price drop from peak profit before you exit the trade?

cheers
...and thanks heaps for all the free indicators and education.

As we say here in Australia - Good onya mate, you're a bloody legend!:D

A LOSER is a trade that I could not gross 5 pips.

So if I enter at the line and the price does NOT go up at least 5 pips, THAT'S A LOSER.

Most of the time, I am in/out of the trade so fast, I never see the peak...LOL!

You have to learn to be QUICK.

You have to understand MARGIN and COMPOUNDING.

You only need to grow your account by 2% or more each day COMPOUNDED and you are RICH!!

TheRumpledOne 09-10-2008 08:51 AM

http://i37.tinypic.com/29cb31d.gif

DO I NEED TO KEEP POSTING CHARTS or are you CONVINCED?

dragon33 09-10-2008 08:54 AM

http://i38.tinypic.com/28mer0l.jpg

Signal was triggered and i just waited for the 1h candle turning red.
I opened a trade at 1.4119 and closed at 1.4085=34pip

TheRumpledOne 09-10-2008 08:57 AM

Quote:

Originally Posted by dragon33 (Post 67252)
Signal Was Triggered And I Just Waited For The 1h Candle Turning Red.
I Opened A Trade At 1.4119 And Closed At 1.4085=34pip

It Can't Be That Simple!!

Can It??


dragon33 09-10-2008 08:59 AM

HERE IS ANOTHER ONE
http://i38.tinypic.com/2poyzp2.gif

dragon33 09-10-2008 09:05 AM

http://i38.tinypic.com/2aiot53.gif

ENTRY AT 1.4123
CLOSING AT 1.4112=11PIP

TheRumpledOne 09-10-2008 09:16 AM

Quote:

Originally Posted by dragon33 (Post 67258)
ENTRY AT 1.4123
CLOSING AT 1.4112=11PIP

http://i33.tinypic.com/19uyh3.gif

Nice trading, Dragon. GOOD JOB!!

You could turn on the FIB LEVELS in the TRO DYNAMIC FIBS SR indicator so they'll plot.

Might make it easier for you to pick your exits.

TheRumpledOne 09-10-2008 09:19 AM

Hey Dragon, come on in!!

I have a FREE Chat | Chat Rooms | Paltalk chatroom called the two percent club. We can chat there. If you have trouble finding it, just pm me, therumpledone, and I will invite you in.

dragon33 09-10-2008 09:28 AM

http://i33.tinypic.com/ixzdqt.gif

DON'T TRADE THIS ONE IT IS AGAINST THE 1H;

WAIT UNTIL YOU PAS THE RED LINE

ewokuk 09-10-2008 09:43 AM

Quote:

Originally Posted by dragon33 (Post 67244)
My target is 20 pips but if i can only make 5 it is ok. I have based my trades only on the colors and it works. Watch the charts from TRO. It looks difficult but IT IS NOT. I am just a guy like you who has learned to use EMA's etc. If you use those indicators you can gain profits but you wil lose also because if a signal is triggered sometimes the priceaction is past and after entering the trend go against you
I don't use SL never did only for my daily strategy and that is 50pip.
I trade my own system mixed with TRO his lessons and it works really wel.
Actually i am going to drop my system because it can't tip to what i have learned from TRO.
If the trend is going against me i stop the trade even if i can make a win after some candles.

no stoploss? surely thats how you wipe out your account in one bad trade and destroy weeks or months of profits. happened to me twice when it had been working ok for 2 weeks, eventually went so far the wrong way got completely wiped out.

dragon33 09-10-2008 09:57 AM

learn to take your loss
If i see i don't get there i stop my self.
mostly i do that around 15 à 20 pip

tymen1 09-10-2008 09:59 AM

Quote:

Originally Posted by TheRumpledOne (Post 67250)
A LOSER is a trade that I could not gross 5 pips.

So if I enter at the line and the price does NOT go up at least 5 pips, THAT'S A LOSER.

Most of the time, I am in/out of the trade so fast, I never see the peak...LOL!

You have to learn to be QUICK.

You have to understand MARGIN and COMPOUNDING.

You only need to grow your account by 2% or more each day COMPOUNDED and you are RICH!!


I think that this post #615 by The Rumpled One is the best post on the entire thread!! :D
It is the essence of the strategy.

There has been a lot said about "how to"........ here, but very little about how this method actually works............

************************************************** *******

This is a multiple time frame trading method.
Like all multiple time frame strategies, it relies on probability, nothing is definite.
But that is true for all strategies.
This is a well known method in equities trading.

Because all strategies rely on probability, there is, therefore, a risk of loss.

In any timeframe, there is nothing to stop the price action turning against you.
However, with scalping, you can quit the trade if you are in profit before the price action goes against you.
Herein lies a potential strength of this method.

This strategy relies on the higher time frame giving direction to the lower one.
The timeframes, however, are randomly chosen and hence do not necessarily give that direction.
Note how in the many charts posted, the daily timeframe colour does not agree with the weekly or monthly.
Also a 4 hour timeframe would be a better indicator of the 1 hour trend than the daily.


If I were to use this approach, I would also add a 4 hour timeframe to increase my confidence and hopefully (but not necessarily) the probability of success.

The danger with this strategy is that of an indicator (in this case a candle) repainting and thus rendering the method useless.

It is for this reason that, although I find it interesting because of its simplicity, I personally do not use it.

The same for the Heikin Ashi Smoothed strategy.
It is also a multiple time frame approach and suffers from the same repainting problem.


I post this here not to rip the Rumpled One, but rather to make new traders aware that this method, which appears simple, is not a Holy Grail, but is a strategy belonging to the multiple-timeframe family.

It has, therefore, all the advantages and defects that go with that approach.

There is nothing new under the sun.

edacsac 09-10-2008 10:07 AM

Quote:

Originally Posted by TheRumpledOne (Post 67213)
Please explain what EXACTLY is null.

And please explain the reason you when short when you did.

What time frame is that chart?

What pair are you trading?

Please include all info when you post a chart.

Thank you.

Sorry, this trade was done last night / this morning around 12:00am or so eastern on the USD/JPY. The chart is a 5M chart, and I went short just after I read your newest about not even needing horizontal lines to trade. I entered because the candle was red(black in my case) and so was the 1H and 1D.

I have to ask though: Why did you post all the previous info? Why did you explain support/resistance, higher highs and lower lows. Why did you make us observe candle behavior, explain fib lines and attach countless images, when all we need is candle color??

By Null I meant nothing, invalid, empty. I picked that word because your a programmer. Trading off of lines plotted by random numbers, nullifies everything you've talked about before that post, because everything before that had much to do with lines and SR.

TheRumpledOne 09-10-2008 10:47 AM

Quote:

Originally Posted by tymen1 (Post 67274)
I think that this post #615 by The Rumpled One is the best post on the entire thread!! :D
It is the essence of the strategy.

There has been a lot said about "how to"........ here, but very little about how this method actually works............

************************************************** *******

This is a multiple time frame trading method.
Like all multiple time frame strategies, it relies on probability, nothing is definite.
But that is true for all strategies.
This is a well known method in equities trading.

Because all strategies rely on probability, there is, therefore, a risk of loss.

In any timeframe, there is nothing to stop the price action turning against you.
However, with scalping, you can quit the trade if you are in profit before the price action goes against you.
Herein lies a potential strength of this method.

This strategy relies on the higher time frame giving direction to the lower one.
The timeframes, however, are randomly chosen and hence do not necessarily give that direction.
Note how in the many charts posted, the daily timeframe colour does not agree with the weekly or monthly.
Also a 4 hour timeframe would be a better indicator of the 1 hour trend than the daily.


If I were to use this approach, I would also add a 4 hour timeframe to increase my confidence and hopefully (but not necessarily) the probability of success.

The danger with this strategy is that of an indicator (in this case a candle) repainting and thus rendering the method useless.

It is for this reason that, although I find it interesting because of its simplicity, I personally do not use it.

The same for the Heikin Ashi Smoothed strategy.
It is also a multiple time frame approach and suffers from the same repainting problem.


I post this here not to rip the Rumpled One, but rather to make new traders aware that this method, which appears simple, is not a Holy Grail, but is a strategy belonging to the multiple-timeframe family.

It has, therefore, all the advantages and defects that go with that approach.

There is nothing new under the sun.

Tymen, you have it BACKWARDS!!


H1 is the time frame that controls the BIAS DIRECTION. H1 was NOT randomly chosen. H1 was chosen to exploit the average hourly range of the currency being traded.

When H1 matches D1, that means you can look for bigger profit.

When H1 doesn't match D1, that means you are in a 5 pip scalp mode IF you want to enter the trade.

Please do NOT confuse people here, Tymen. You do NOT know this method, nor do you trade it. We don't need H4. In fact, all you NEED is H1. I showed that in the HORIZONTAL LINE thread.

I just proved this method works. Look at the charts. They are all TIMESTAMPED. The HOW IT WORKS is in the charts. Perhaps, Tymen, this method is too simple for you to understand and that's usually the case. The more a trader "knows" about trading, indicators, etc... the more they struggle with the simplicity.

Did you NOT read the post by other traders that have had success with this method? That PROVES the method works.

Of course, there is a risk of loss... THIS IS TRADING!!

Tymen, NEWBIES do NOT need to be warned about me or my methods.

They need to be warned about all the rest.

TheRumpledOne 09-10-2008 10:54 AM

Quote:

Originally Posted by edacsac (Post 67277)
Sorry, this trade was done last night / this morning around 12:00am or so eastern on the USD/JPY. The chart is a 5M chart, and I went short just after I read your newest about not even needing horizontal lines to trade. I entered because the candle was red(black in my case) and so was the 1H and 1D.

I have to ask though: Why did you post all the previous info? Why did you explain support/resistance, higher highs and lower lows. Why did you make us observe candle behavior, explain fib lines and attach countless images, when all we need is candle color??

By Null I meant nothing, invalid, empty. I picked that word because your a programmer. Trading off of lines plotted by random numbers, nullifies everything you've talked about before that post, because everything before that had much to do with lines and SR.

Why?

Because support/resistance, higher highs, lower lows, candle behavior, etc... ARE IMPORTANT.

If you LOOK AGAIN, you'll see that all the things you think are nullified are actually what produced the wins.

BUT YOU HAVE TO BE ABLE TO SEE IT!!

ewokuk 09-10-2008 10:55 AM

well i was having a bad day (as usual). until just now. using the 1h chart and taking trades at 00,25,50,75 (long/short depending on candle colour) i had 1 win and 3 losses.

went short on eurjpy only to see it get to about -12 but had 20 pip stop instead of my usual 10 so stayed alive. after about 20 mins it shot my way and i grabbed 50 pips, got out just as it started reversing (although it has now continued another 25 pips or so, 50 pip profilt will do nicely). it was also against the D1 candle colour but it was pretty close to the day open price anyway.

im now in profit for the day. les see how long it will last, usually not long.

ewokuk 09-10-2008 11:14 AM

as expected didnt last long. went long on eurjpy after it hit 151.25, ended up hitting my stop at -20 pips. back negative for the day.

edacsac 09-10-2008 11:23 AM

Quote:

Originally Posted by TheRumpledOne (Post 67299)
Why?

Because support/resistance, higher highs, lower lows, candle behavior, etc... ARE IMPORTANT.

If you LOOK AGAIN, you'll see that all the things you think are nullified are actually what produced the wins.

BUT YOU HAVE TO BE ABLE TO SEE IT!!

I get the impression now that I could drop trades on every candle that moves a couple of pips if the color matches the H1 and even more so if it matches the D1. I'm still going to use lines, pivots and what not because 5 pips equals about a $1 and is a waste of my time, so I would like to catch a bit more on each position.

I gather that this is an extreme example of simplicity. I'm sure you still you use your buy indicator and I'm sure you still keep you eyes open for retracements on fib lines and pivot points to make the best trades you can, right?

edacsac 09-10-2008 11:27 AM

Quote:

Originally Posted by ewokuk (Post 67305)
as expected didnt last long. went long on eurjpy after it hit 151.25, ended up hitting my stop at -20 pips. back negative for the day.

Hang in there! I can't give much for advice since I'm in the same boat, but there is money to be made. Thats why where here learning and practicing.

metalorn 09-10-2008 11:48 AM

you don't want to increase your lot size?

Quote:

Originally Posted by edacsac (Post 67309)
I get the impression now that I could drop trades on every candle that moves a couple of pips if the color matches the H1 and even more so if it matches the D1. I'm still going to use lines, pivots and what not because 5 pips equals about a $1 and is a waste of my time, so I would like to catch a bit more on each position.

I gather that this is an extreme example of simplicity. I'm sure you still you use your buy indicator and I'm sure you still keep you eyes open for retracements on fib lines and pivot points to make the best trades you can, right?


metalorn 09-10-2008 11:51 AM

Just woke up and tried the horizontal lines. On EURUSD took 5 pips from 1.4033 level and, why not??!!! entered at 1.4025 and got another 3 pips.

http://i38.tinypic.com/9kqhas.gif

TheRumpledOne 09-10-2008 11:51 AM

Quote:

Originally Posted by edacsac (Post 67309)
I get the impression now that I could drop trades on every candle that moves a couple of pips if the color matches the H1 and even more so if it matches the D1. I'm still going to use lines, pivots and what not because 5 pips equals about a $1 and is a waste of my time, so I would like to catch a bit more on each position.

I gather that this is an extreme example of simplicity. I'm sure you still you use your buy indicator and I'm sure you still keep you eyes open for retracements on fib lines and pivot points to make the best trades you can, right?

Do you think I am keeping SECRETS?

I posted the charts that I am using.

The charts tell the story.

I enter at the HORIZONTAL LINE. It's that simple.

I use the H1 and D1 candle color.

H1 color determines direction of trade.

Don't you see the charts of OTHER TRADERS making money doing this?

TheRumpledOne 09-10-2008 11:52 AM

Quote:

Originally Posted by metalorn (Post 67313)
Just woke up and tried the horizontal lines. On EURUSD took 5 pips from 1.4033 level and, why not??!!! entered at 1.4025 and got another 3 pips.

http://i38.tinypic.com/9kqhas.gif

That's way too funny!!

Nice trading.

tymen1 09-10-2008 12:06 PM

Quote:

Originally Posted by TheRumpledOne (Post 67287)
H1 is the time frame that controls the BIAS DIRECTION. ..........

When H1 matches D1, that means you can look for bigger profit.

When H1 doesn't match D1, that means you are in a 5 pip scalp mode IF you want to enter the trade.
................