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TheRumpledOne 09-08-2008 09:19 PM

http://i36.tinypic.com/t98j76.gif

SIGMA LINES based on the midpoint of the sup/res channel.

Using the HH/LL for the last 21 bars shift 1... just line TRO SR RR.

But this should "predict" how far is TOO FAR!!

TO BE CONTINUED...

metalorn 09-08-2008 09:33 PM

1 Attachment(s)
This is on EURUSD. This seemed like a good setup except that the trade was against the hourly and daily. A few minutes later, price broke support.

TheRumpledOne 09-08-2008 11:41 PM

Quote:

Originally Posted by metalorn (Post 66956)
This is on EURUSD. This seemed like a good setup except that the trade was against the hourly and daily. A few minutes later, price broke support.

That looks like a nice 5 pip COUNTER TREND scalp to me.

Can't be greedy.

TheRumpledOne 09-09-2008 02:13 AM

http://i38.tinypic.com/25r04cw.gif

Figured a TRO BIAS MULTI METER might come in handy, so I coded it.

pipnailer 09-09-2008 02:33 AM

Quote:

Originally Posted by quest (Post 66907)
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

When you are in a short/sell position, you factor in the spread into your stop loss or profit level. E.g. you open a trade at 1.4112 and set a stop loss of 10. and the spread here is 2pips, your stop loss will read 1.4122, but in actual fact (factoring in your spread), the price on the chart (often set at default to show buy price) will be at 1.4120 for your stop loss to be activated. Always remember to factor in the spread when setting your stop loss.

Hope this helps.

Quote:

Originally Posted by quest (Post 66916)
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.


quest 09-09-2008 04:53 AM

Thanks for your reply pipnailer.

I did factor in the spread, if you look at the image of the chart I posted, 1.4117 happens to be the resistance as at that time I added a pip to 1.4119 (factoring the spread) making 1.4120.

If you look at the chart once again, where the red arrow is, its a 1 minute candle info = time 21:14 GMT, you will notice that the high of the candle is 1.4117, add 2 pips to that = 1.4119, how come if you look at the transaction report order 3062366 states that a sell order open at 2008.09.08 21:11 was closed at 2008.09.08 21:14 price 1.4120

What do you now say to that

ewokuk 09-09-2008 05:05 AM

Quote:

Originally Posted by TheRumpledOne (Post 66939)

Or you can switch to the M15 chart.

ahh but on the m5 i can see how big/strong each of those bars are to better judge what is happening. easier to see how strong the movement is with 5 min bars i think.

on 15m chart i might have very strong/big first bar, then weaker second bar, and weaker still 3rd bar, so signs the movement may be about to reverse. on a 15min chart all you would see is one large bar.

dragon33 09-09-2008 07:03 AM

1 Attachment(s)
Attachment 5128
Here you go, this is what i learned.

dragon33 09-09-2008 07:21 AM

how can i copy a chart in my post.
Do i have to use the attach? In my latest post it is not clear so i am looking for an other way.

metalorn 09-09-2008 07:23 AM

limit orders
 
1 Attachment(s)
I thought I understood what a limit order is but...

For example just now at 11:00 gmt, the opening price is 1.4177. If I want to sell, this means I need to wait for the price to go under 1.4174, place a sell limit order and expect the price to go back up to the short trigger... right?

Also, if I'm under the buy zone, I can't place buy limit orders.

metalorn 09-09-2008 07:27 AM

What indicators are you using here?

Quote:

Originally Posted by dragon33 (Post 66990)
Attachment 5128
Here you go, this is what i learned.


TheRumpledOne 09-09-2008 07:55 AM

Quote:

Originally Posted by dragon33 (Post 66990)
Attachment 5128
Here you go, this is what i learned.

Care to elaborate?

TheRumpledOne 09-09-2008 07:56 AM

Quote:

Originally Posted by dragon33 (Post 66991)
how can i copy a chart in my post.
Do i have to use the attach? In my latest post it is not clear so i am looking for an other way.

I use THIS and upload my chart there.

I copy/paste the IMG statement into my post on BabyPips.

TheRumpledOne 09-09-2008 08:04 AM

Quote:

Originally Posted by metalorn (Post 66992)
I thought I understood what a limit order is but...

For example just now at 11:00 gmt, the opening price is 1.4177. If I want to sell, this means I need to wait for the price to go under 1.4174, place a sell limit order and expect the price to go back up to the short trigger... right?

Also, if I'm under the buy zone, I can't place buy limit orders.


NO.

You want enter your SELL SHORT LIMIT ORDER at the price indicated by one of the red lines. Wait for the bid to DROP to the red line.

You want enter your BUY LIMIT ORDER at the price indicated by one of the blue lines. Wait for the ASK to RISE to the blue line.

If you want to trade the BUY ZONE, please read the 3 FREE Buy Zone eBooks.

dragon33 09-09-2008 08:11 AM

Quote:

Originally Posted by TheRumpledOne (Post 66996)
Care to elaborate?

What does it mean, i don't know the translation of "care to elaborate"

dragon33 09-09-2008 08:13 AM

Quote:

Originally Posted by metalorn (Post 66993)
What indicators are you using here?

I use TRO_DYNAMIC_FIBS_SR indicator and that is al. The other lines and the macd are there because i use also other strategy.

dragon33 09-09-2008 08:16 AM

1 Attachment(s)
Attachment 5130

I opened the trade as soon as the 1h candle was red and took profit on the 50% level (36 pips)

TheRumpledOne 09-09-2008 08:21 AM

Quote:

Originally Posted by dragon33 (Post 66999)
What does it mean, i don't know the translation of "care to elaborate"

Can you explain what you are seeing/doing?

metalorn 09-09-2008 08:26 AM

thank you TRO,

yes, I understand that, what I was trying to say is that I can't (or metatrader can't) place a sell limit order if current price is above the red lines, nor I can't place buy limit orders if current price is below the blue lines. For example, I want to sell at 1.4174, so I need to wait for the price to go under 1.4174, say 1.4170, and then, I can place a sell limit order with 1.4174 as the entry parameter.

I got the books and I understand the buy zone should be traded when the market opens in Asia, London or New York. I'm just trying to grasp the limit orders.

Quote:

Originally Posted by TheRumpledOne (Post 66998)
NO.

You want enter your SELL SHORT LIMIT ORDER at the price indicated by one of the red lines. Wait for the bid to DROP to the red line.

You want enter your BUY LIMIT ORDER at the price indicated by one of the blue lines. Wait for the ASK to RISE to the blue line.

If you want to trade the BUY ZONE, please read the 3 FREE Buy Zone eBooks.


TheRumpledOne 09-09-2008 08:26 AM

http://i34.tinypic.com/no6dyb.gif

As you can see the BIAS is basically the same as the CANDLE COLOR.

Remember the RULE OF THUMB:

DO NOT TRADE AGAINST THE H1 CANDLE ESPECIALLY WHEN IT MATCHES THE D1 CANDLE.

If both RED, do NOT go long.

If both GREEN, do NOT go short.

Simple rule to keep you profitable.

TheRumpledOne 09-09-2008 08:30 AM

Quote:

Originally Posted by metalorn (Post 67004)
thank you TRO,

yes, I understand that, what I was trying to say is that I can't (or metatrader can't) place a sell limit order if current price is above the red lines, nor I can't place buy limit orders if current price is below the blue lines. For example, I want to sell at 1.4174, so I need to wait for the price to go under 1.4174, say 1.4170, and then, I can place a sell limit order with 1.4174 as the entry parameter.

I got the books and I understand the buy zone should be traded when the market opens in Asia, London or New York. I'm just trying to grasp the limit orders.

You would need to use a SELL STOP LIMIT ORDER and a BUY STOP LIMIT ORDER.

If MT4 doesn't allow that, then something is wrong.

dragon33 09-09-2008 08:31 AM

I see a new high in an uptrend. Triggered the go short line and i waited untill the 1h candle was red and i did the trade.
I was ready top close on the 38% level but i went to 50%

dragon33 09-09-2008 08:41 AM

Quote:

Originally Posted by TheRumpledOne (Post 67006)
You would need to use a SELL STOP LIMIT ORDER and a BUY STOP LIMIT ORDER.

If MT4 doesn't allow that, then something is wrong.

In metatrade its just cald buy stop and sell stop

metalorn 09-09-2008 08:46 AM

Ok, got it!

metatrader has two kind of pending orders and names them as STOP and LIMIT, and they are different to each other in the way they are placed and triggered. Thank you.

Quote:

Originally Posted by TheRumpledOne (Post 67006)
You would need to use a SELL STOP LIMIT ORDER and a BUY STOP LIMIT ORDER.

If MT4 doesn't allow that, then something is wrong.


TheRumpledOne 09-09-2008 08:53 AM

TRO SR RR BIAS CONTROL

http://i34.tinypic.com/2wlswgw.gif

I implemented the USE.BIAS switch.

If USE.BIAS = TRUE (DEFAULT) then TRO SR RR will ONLY show and alert the trades that agree with the BIAS.

If the BIAS is DOWN, you will only see the goShort line.

If the BIAS is UP, you will only see the goLong line.

If USE.BIAS = FALSE, then TRO SR RR will show and alert all trades.

TheRumpledOne 09-09-2008 09:20 AM

http://i36.tinypic.com/123vdjo.gif

I posted a link to the thread by jjrvat?

Did you read it?

If so, then IT SHOULD BE OBVIOUS TO THE READER that the SHORT trade was going against the moving average bias but the second wave had a lower high.

metalorn 09-09-2008 03:26 PM

Yes, that helps! sometimes I get confused when tro_sr_rr is triggering a long trade and the price is moving around resistance; in that case it's better to check for new lows or if the MA is flattening.

By the way, WMA stands for weighted moving average, correct?

Quote:

Originally Posted by TheRumpledOne (Post 67013)

I posted a link to the thread by jjrvat?

Did you read it?

If so, then IT SHOULD BE OBVIOUS TO THE READER that the SHORT trade was going against the moving average bias but the second wave had a lower high.


metalorn 09-09-2008 03:37 PM

Attached is an example to illustrate my previous post, similar to TRO's, but on the EURUSD.

Quote:

Originally Posted by metalorn (Post 67079)
Yes, that helps! sometimes I get confused when tro_sr_rr is triggering a long trade and the price is moving around resistance; in that case it's better to check for new lows or if the MA is flattening.

By the way, WMA stands for weighted moving average, correct?

http://i38.tinypic.com/153v1nr.gif

TheRumpledOne 09-09-2008 03:57 PM

http://i36.tinypic.com/2vuwqqx.gif

DOWN IS DOWN!

Doesn't matter if you use candle color, bias or heat to determine which direction to trade.

TheRumpledOne 09-09-2008 04:25 PM

Quote:

Originally Posted by metalorn (Post 67082)
Attached is an example to illustrate my previous post, similar to TRO's, but on the EURUSD.



http://i38.tinypic.com/153v1nr.gif


I see a nice short.

I also see price making a "stop" at the fib retrace lines.

Did you make some pips?

quest 09-09-2008 04:42 PM

Meta trader/brokers closing trades wrongly
 
1 Attachment(s)
here is what the help desk said

Log file shows that at 21:09 server time you modified stop loss to 1.4120

At 21:14 stop loss was executed at 1.4120 when quote was 1.4118/1.4120 in accordance with our logs.

Best regards,

Helpdesk / Customer Support


My reply


Hello Sir/Madam,

I simply want to know if the feeds I am trading with, is different from the feeds the platform use for it actions and decision making, from the data window as regards the candle in question , it is so obvious the close was a wrong one.

On the chart, the candle information which I was watching at the said time closed at bid 1.4117 ask 1.4119 but when the trade was closed I was wondering what went wrong because I was looking at it and was not expecting a close at 1.4120, checking the transaction list I saw something else, the reason I am re-attaching a snap shot of the chart for you to look at.

If you don't look at the attached image you will not understand what I am saying, and if you insist not understanding what I am saying, I might involve the right authorities to help look into the matter, which might not be too good for the image of your office.

Thank You

Another mail

Please kindly check your log file again and cross check with the snapshot of the image sent to you, unless you want to tell me my feeds are different from yours, because I trade with the feeds you sent to me, and if they are different then something is wrong...

I have a copy of my data feed and my log file, which states otherwise, I sent a snapshot of the chart to you which indicate a pop up info of the candle in question.

Yet another mail

Hi,

I never received any mail, all the same, kindly look at the copy of the chart attached, 1.4117 happens to be the resistance at that time, I added a pip to 1.4119 (factoring your spread) making my stop loss 1.4120.

If you look at the chart once again, where the red arrow is, its a 1 minute candle, time 21:14 GMT, you will notice that the high of the candle is 1.4117, add 2 pips to that = 1.4119, Kindly cross check this with the transaction report, order 3062366 states that a sell order open at 2008.09.08 21:11 was closed at 2008.09.08 21:14 price 1.4120

Thank You

P.S. please while looking at the attached image, look at the data window and compare it to the transaction record = order 3062366

TheRumpledOne 09-09-2008 04:49 PM

THIS SHOULD PROVE THE POINT THAT YOU DO NOT NEED INDICATORS!

http://i38.tinypic.com/2gufaxd.jpg

As you can see, I asked people to enter a number.

http://i35.tinypic.com/a3d1e1.gif

I plotted HORIZONTAL LINES at prices ending in 57, 33 and 19.

Using 1 hour candles:

If candle is GREEN at the line, GO LONG.

If candle is RED at the line, GO SHORT.

How many times could you have made 5 pips? 10 pips? More than 10 pips?

HOW MANY LOSERS DO YOU SEE?


NEVER LOSE AGAIN!!


TO BE CONTINUED...

TheRumpledOne 09-09-2008 05:23 PM

MAKING MONEY WITH RANDOM NUMBERS


http://i34.tinypic.com/70knsw.gif


Last hour paid off long AND short.

This hour paying off long.

TO BE CONTINUED...

TheRumpledOne 09-09-2008 06:30 PM

NEVER LOSE AGAIN!!

http://i35.tinypic.com/t0g66c.gif

So long as you are NOT color blind, this should be simple.

stephangiunta 09-09-2008 06:56 PM

Dear all,

this is my first post on this forum.

i am complete newbie and just finished "the school".

i feel very lucky to hve come across this thread very early on as it seems to reflects my own philosophy in life. KISS. (keep it simple, stup** :) )

i have therefore decided to use this thread as the backbone of my education in the forex world.

i go by post by post, trying to decipher every new word and every new concept before going on to the next.

Thank you all and especially TRO for this very useful and informative thread.

i just felt i had to say this.

Stephan

TheRumpledOne 09-09-2008 07:00 PM

ARE YOU STARTING TO WONDER WHY YOU HAVE ALL THOSE SQUIGGLY LINES ON YOUR CHART?


http://i33.tinypic.com/xojv5k.gif

TheRumpledOne 09-09-2008 07:09 PM

http://i34.tinypic.com/rseo3a.gif

Nice profit off that GREEN H1 CANDLE!!

TheRumpledOne 09-09-2008 07:20 PM

http://i33.tinypic.com/fmkhp3.gif

RED CANDLE AT THE LINE...

but D1 is GREEN!!

So this is a COUNTER TRADE - QUICK SCALP AT BEST.

Also notice that HEAT is GREEN even though the H1 Candle is RED.

TheRumpledOne 09-09-2008 07:35 PM

IS THE IMAGE GETTING CLEARER?


http://i34.tinypic.com/28b403c.gif


QUICK SCALP GOING COUNTER TO THE D1 BIAS BUT WITH THE H1 BIAS.

TheRumpledOne 09-09-2008 07:38 PM

WHO WAS HOPING THIS WOULD BE A LOSING TRADE?


http://i37.tinypic.com/2uj2fbd.gif


Just remember the rule of thumb:


NEVER TRADE AGAINST THE H1 CANDLE ESPECIALLY WHEN IT'S THE SAME COLOR AS THE D1 CANDLE.


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