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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... |
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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.
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Can't be greedy. |
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Figured a TRO BIAS MULTI METER might come in handy, so I coded it. |
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Hope this helps. Quote:
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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 |
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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. |
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Attachment 5128
Here you go, this is what i learned. |
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. |
limit orders
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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. |
What indicators are you using here?
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I copy/paste the IMG statement into my post on BabyPips. |
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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. |
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Attachment 5130
I opened the trade as soon as the 1h candle was red and took profit on the 50% level (36 pips) |
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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:
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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. |
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If MT4 doesn't allow that, then something is wrong. |
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% |
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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:
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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. |
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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. |
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:
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Attached is an example to illustrate my previous post, similar to TRO's, but on the EURUSD.
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DOWN IS DOWN! Doesn't matter if you use candle color, bias or heat to determine which direction to trade. |
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I see a nice short. I also see price making a "stop" at the fib retrace lines. Did you make some pips? |
Meta trader/brokers closing trades wrongly
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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 |
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... |
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... |
NEVER LOSE AGAIN!!
http://i35.tinypic.com/t0g66c.gif So long as you are NOT color blind, this should be simple. |
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 |
ARE YOU STARTING TO WONDER WHY YOU HAVE ALL THOSE SQUIGGLY LINES ON YOUR CHART?
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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. |
IS THE IMAGE GETTING CLEARER?
http://i34.tinypic.com/28b403c.gif QUICK SCALP GOING COUNTER TO THE D1 BIAS BUT WITH THE H1 BIAS. |
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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