BabyPips.com Forex Forum

BabyPips.com Forex Forum (/)
-   Show me the money! [Daytrading] (http://forums.babypips.com/show-me-money-daytrading/)
-   -   Never Lose Again!! (http://forums.babypips.com/show-me-money-daytrading/16021-never-lose-again.html)

FXCaribbean 09-02-2008 08:47 PM

when you have a huge down and next candle open above previous close, then there is at least an up of at least 50% of previous candle (no matter what will be the ending close of that current candle).

pintodave 09-02-2008 08:47 PM

H1 has no tail and is lower than the previous candles' closing on your chart.

TheRumpledOne 09-02-2008 09:06 PM

Quote:

Originally Posted by FXCaribbean (Post 65973)
when you have a huge down and next candle open above previous close, then there is at least an up of at least 50% of previous candle (no matter what will be the ending close of that current candle).

You are beginning to SEE!

But just SEE don't interpret.

I know it's hard to LET GO.

TheRumpledOne 09-02-2008 09:08 PM

Quote:

Originally Posted by pintodave (Post 65974)
H1 has no tail and is lower than the previous candles' closing on your chart.

No tail? You mean the close = the low?

OK.

That is an OBSERVATION.

TheRumpledOne 09-02-2008 09:16 PM

Hint:

How Many Times Does A Red Candle Follow A Red Candle?

How Many Times Does A Red Candle Follow A Green Candle?

How Many Times Does A Green Candle Follow A Green Candle?

How Many Times Does A Green Candle Follow A Red Candle?

Do You See A Pattern?

Do You See What Usually Happens After A Certain Number Of Times?

More Importantly, Do You See What Usually Does Not Happen?

metalorn 09-02-2008 09:17 PM

I see the price hitting the 193.53ish level three times and moving up.

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.


johnnykanoo 09-02-2008 09:24 PM

in every instance price dropped for 3 candles then went up.

when the price hit the 00 it changed color and went bullish

pintodave 09-02-2008 09:27 PM

Damn. I am getting frustrated. I think I am trying to read into it too much.

MoreYummy 09-02-2008 09:49 PM

are you talking about the live movement of the candle?

pintodave 09-02-2008 09:49 PM

M15, M30, H1 all green in all three examples


Here I go thinking (maybe over thinking) again - it is easier to trade with the true "trend" for any given "moment" with the path of least resistance for price.

TheRumpledOne 09-02-2008 10:39 PM

Quote:

Originally Posted by johnnykanoo (Post 65979)
in every instance price dropped for 3 candles then went up.

when the price hit the 00 it changed color and went bullish

That's an observation that you can use to make money!

YOUR GRADE:

A

What happens to you when you trade?

You see what LOOKS LIKE A BOTTOM, You enter the trade and it DROPS ON YOU! Then you stop out, ride it out or add to your position and trade your way out.

So, using this observation, you "know" to WAIT for 3 RED candles BEFORE you enter long. Sure you may miss some trades but better to miss and be flat then to enter and be in the hole!!

Also, since this is happening on the other time frames, when you see it on the M5, you move up to the M15 and if you see it on the M15, you move up to the H1 (or M30). Did you notice how the candles all turned GREEN after price bottomed and began to move up?

So this observation means YOU WAIT. You WAIT for the candle color to change.

But there are still more observations to be listed.

TheRumpledOne 09-02-2008 10:41 PM

Quote:

Originally Posted by MoreYummy (Post 65984)
are you talking about the live movement of the candle?

NO. I am talking about the charts I posted.

Don't read anything into them.

Just look and see.

Make OBSERVATIONS NOT INTERPRETATIONS.

TheRumpledOne 09-02-2008 10:42 PM

Quote:

Originally Posted by pintodave (Post 65980)
Damn. I am getting frustrated. I think I am trying to read into it too much.

Are you?

Do not read anything into it.

Just look and see.

What do you SEE?

TheRumpledOne 09-02-2008 10:44 PM

Quote:

Originally Posted by pintodave (Post 65985)
m15, M30, H1 All Green In All Three Examples


Here I Go Thinking (maybe Over Thinking) Again - It Is Easier To Trade With The True "trend" For Any Given "moment" With The Path Of Least Resistance For Price.

No Thinking.

Just Look, See, Observe.

MoreYummy 09-02-2008 10:57 PM

you look at 3 charts at same time to find entry.

edacsac 09-02-2008 11:10 PM

Quote:

Originally Posted by TheRumpledOne (Post 65991)
That's an observation that you can use to make money!

YOUR GRADE:

A

What happens to you when you trade?

You see what LOOKS LIKE A BOTTOM, You enter the trade and it DROPS ON YOU! Then you stop out, ride it out or add to your position and trade your way out.

So, using this observation, you "know" to WAIT for 3 RED candles BEFORE you enter long. Sure you may miss some trades but better to miss and be flat then to enter and be in the hole!!

Also, since this is happening on the other time frames, when you see it on the M5, you move up to the M15 and if you see it on the M15, you move up to the H1 (or M30). Did you notice how the candles all turned GREEN after price bottomed and began to move up?

So this observation means YOU WAIT. You WAIT for the candle color to change.

But there are still more observations to be listed.

I'm not seeing consistency in the "3 red candles before a long opportunity". If that is what your trying to teach us here, where do you enter your position? As soon as the 3rd candle in succession closes? It seems if you would wait for a confirmation candle you'd completely miss the profit on the recent images. If you look back at some older chart images, the 3 candle idea isn't there. Are we looking for 3 successive candles on the 5, then the 15 then the hour? That would be pretty uncommon. Does this work in the opposite direction as well? Getting confused.

Also, I had thought I learned something previously with a candle closing higher or lower then the immediate left and right candles at support or resistance signaling a reversal, but it apparently only worked on that one day. Any thoughts?

MoreYummy 09-02-2008 11:18 PM

he probably has multiple strategies, and try to teach us that way? I found that sometimes it work, sometimes it doesnt in these example in the thread. Any idea? Think too much or simply not getting the simple idea. :cool:

FXCaribbean 09-02-2008 11:58 PM

Quote:

Originally Posted by edacsac (Post 65998)
I'm not seeing consistency in the "3 red candles before a long opportunity". If that is what your trying to teach us here, where do you enter your position? As soon as the 3rd candle in succession closes? It seems if you would wait for a confirmation candle you'd completely miss the profit on the recent images. If you look back at some older chart images, the 3 candle idea isn't there. Are we looking for 3 successive candles on the 5, then the 15 then the hour? That would be pretty uncommon. Does this work in the opposite direction as well? Getting confused.

Also, I had thought I learned something previously with a candle closing higher or lower then the immediate left and right candles at support or resistance signaling a reversal, but it apparently only worked on that one day. Any thoughts?

I see the method working only on 15 and 1H chart not the 5mn one.

when to enter ? I think it is not a good question or that shows you don't have it (huhhhhhh i still don"t know if that works really ;) ) ! Let me explain what i think i understood :

After 3 candles red then just ENTER LONG, no confirmation of nothing, then EXIT after 3 GREEN or if market is down at you.

But not on the 5mn ... :( or there is something i still don"t see....

edacsac 09-03-2008 12:16 AM

I just found 2 different pairs that had 3 like candles with confirmation on the 15 and 1 hour. I entered after the close of the third candles and got stopped out so fast I thought I didn't put the trades in correctly. On both pairs price had crossed either support or resistance.

edacsac 09-03-2008 12:25 AM

Each new candle that closes I try again, but it price keeps going against me. This 3 candle thing isn't such a good plan. I literally put in a trade and it gets topped. Damn... EUR/USD and USD/CHF are what I'm working with. I'll keep trying.

TheRumpledOne 09-03-2008 12:37 AM

Quote:

Originally Posted by edacsac (Post 65998)
i'm Not Seeing Consistency In The "3 Red Candles Before A Long Opportunity". If That Is What Your Trying To Teach Us Here, Where Do You Enter Your Position? As Soon As The 3rd Candle In Succession Closes? It Seems If You Would Wait For A Confirmation Candle You'd Completely Miss The Profit On The Recent Images. If You Look Back At Some Older Chart Images, The 3 Candle Idea Isn't There. Are We Looking For 3 Successive Candles On The 5, Then The 15 Then The Hour? That Would Be Pretty Uncommon. Does This Work In The Opposite Direction As Well? Getting Confused.

Also, I Had Thought I Learned Something Previously With A Candle Closing Higher Or Lower Then The Immediate Left And Right Candles At Support Or Resistance Signaling A Reversal, But It Apparently Only Worked On That One Day. Any Thoughts?


I Am Teaching You To See.

edacsac 09-03-2008 12:40 AM

Can you tell me what I'm not seeing the past 1/2 hour with eur/usd and usd/chf? I'm only using a demo account, but I just got seriously hammered. And of course now that I've thrown away $20 in play money, it's turning around... :-(

Would entering now be a bad idea, now that both pairs have moved the 20 pips I had originally hoped for?

TheRumpledOne 09-03-2008 12:42 AM

Quote:

Originally Posted by edacsac (Post 66014)
Each new candle that closes I try again, but it price keeps going against me. This 3 candle thing isn't such a good plan. I literally put in a trade and it gets topped. Damn... EUR/USD and USD/CHF are what I'm working with. I'll keep trying.

Looks like you jumped the gun.

You need to reread.

You have to learn to SEE.

You haven't learned that yet.

TheRumpledOne 09-03-2008 12:43 AM

Quote:

Originally Posted by edacsac (Post 66017)
Can you tell me what I'm not seeing the past 1/2 hour with eur/usd and usd/chf? I'm only using a demo account, but I just got seriously hammered. And of course now that I've thrown away $20 in play money, it's turning around... :-(

Would entering now be a bad idea, now that both pairs have moved the 20 pips I had originally hoped for?

Post the charts.

edacsac 09-03-2008 12:48 AM

Got it.........

TheRumpledOne 09-03-2008 12:56 AM

Quote:

Originally Posted by edacsac (Post 66020)
I can't. Print screen button isn't working and I can't really reboot right now.

If you are on MT4, right click on chart, click save a picture, attach the file.

edacsac 09-03-2008 01:10 AM

USD/CHF
http://i220.photobucket.com/albums/d...sac/usdcfh.gif
EUR/USD
http://i220.photobucket.com/albums/d...sac/eurusd.gif

http://i220.photobucket.com/albums/d...sac/trades.gif

The stop losses and take profits are pretty much arbitrary for these trades as I had planned on monitoring them and adjusting accordingly, although I would've lost anyway when price kept moving against me.

DrConan 09-03-2008 01:52 AM

this is a good idea, but can you bring it in another form of indicator? counting the red lines against the other ones... & make from that a histogram or line graph?


Quote:

Originally Posted by TheRumpledOne (Post 65775)
TRO TREND MAP

http://i34.tinypic.com/34q6avn.gif

Someone was asking me about the TRO TREND MAP.


TheRumpledOne 09-03-2008 02:06 AM

On the EURUSD trade...

The price was below the moving average AND the moving average was heading south.. what's the reason you bought?

n8rader 09-03-2008 02:33 AM

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.

Pardon me for posting late on this...

...the price is going up (green candle) after testing near a 'big number' (.50). Price has crossed above previous candle's close.

MSW 09-03-2008 06:57 AM

TheRumpledOne,

IMHO this thread is not for a newbie like me because every time you post a new post especially those with chart in it and you ask "Did you see it?". I never see what you want me to see. And every thing gets darker and darker so dark that I don't know what to ask you :confused:. You could say that I am an empty cup based on the fact that I just learn about forex for 2 weeks and the only knowledge i have is every thing covered in the school of BabyPips because I just graduated from there.
I feel like an empty cup but with a hole in it because every time you make a new post to fill the empty cup, the empty cup never gets filled.

But I am not going to give up in this and I am interested about what are you trying to say in this thread. So do you have any suggestions where should I go first or what should I understand first before I read this interesting thread and can follow what are you trying to say?

Please help me find something to patch this empty cup :)

Note : Please forgive me if there's a spelling error or grammatical error in this post because I can't speak English fluently

TheRumpledOne 09-03-2008 08:26 AM

Quote:

Originally Posted by DrConan (Post 66028)
this is a good idea, but can you bring it in another form of indicator? counting the red lines against the other ones... & make from that a histogram or line graph?

Hmmm... that gives me an idea... thanks.

TheRumpledOne 09-03-2008 08:28 AM

Quote:

Originally Posted by n8rader (Post 66033)
Pardon me for posting late on this...

...the price is going up (green candle) after testing near a 'big number' (.50). Price has crossed above previous candle's close.

Good observations

YOUR GRADE:



B

metalorn 09-03-2008 08:40 AM

see my comments in bold:
Quote:

Originally Posted by TheRumpledOne (Post 65977)
Hint:

How Many Times Does A Red Candle Follow A Red Candle?
9 out of 19. Less than half.

How Many Times Does A Red Candle Follow A Green Candle?
10 out of 19. More than half.

How Many Times Does A Green Candle Follow A Green Candle?
7 out of 17. Less than half.

How Many Times Does A Green Candle Follow A Red Candle?
10 out of 17. More than half.

Do You See A Pattern?
from the numbers I wrote above, yes...

Do You See What Usually Happens After A Certain Number Of Times?
does this mean I should have counted the candles as series of the same color? if that's the case, the answers to the four questions above should have been:
1.- 2 times yes, 4 times no.

2.- 2 times yes, 1 time no.
3.- 2 times no, 1 time yes.
4.- 2 times yes, 1 time no.

More Importantly, Do You See What Usually Does Not Happen?
I'm lost...


TheRumpledOne 09-03-2008 08:45 AM

Quote:

Originally Posted by MSW (Post 66058)
TheRumpledOne,

IMHO this thread is not for a newbie like me because every time you post a new post especially those with chart in it and you ask "Did you see it?". I never see what you want me to see. And every thing gets darker and darker so dark that I don't know what to ask you :confused:. You could say that I am an empty cup based on the fact that I just learn about forex for 2 weeks and the only knowledge i have is every thing covered in the school of BabyPips because I just graduated from there.
I feel like an empty cup but with a hole in it because every time you make a new post to fill the empty cup, the empty cup never gets filled.

But I am not going to give up in this and I am interested about what are you trying to say in this thread. So do you have any suggestions where should I go first or what should I understand first before I read this interesting thread and can follow what are you trying to say?

Please help me find something to patch this empty cup :)

Note : Please forgive me if there's a spelling error or grammatical error in this post because I can't speak English fluently

MSW:

WELCOME TO THE JUNGLE!

This thread IS for new people because you have a lot LESS to UNLEARN.

Most education about the market is INDICATOR BASED. Even CandleSticks are "indicators". Only a few places/people discuss PRICE ACTION ANALYSIS in pure form.

If you notice in the charts I posted without any indicators, you will OBSERVE the following:

1) RED and GREEN objects

2) A RED object usually followed by another RED object that is lower than the first RED object

3) When a GREEN object appears after a series of RED objects, it is usually followed by another GREEN object that is higher than the preceding GREEN object.


Notice that I made no mention of PRICE. All I did was make OBSERVATIONS.

You have but one goal or mission as a trader: TO TAKE MONEY FROM THE MARKET.

In order to do that, you must be able to OBSERVE the price action WITH YOUR OWN EYES.

When you are able to buy when price is going up and sell short when price is going down, you'll take money from the market.

Accurately identifying price direction at the time, is of primary importance.

What to read? Read all you can about TRADING PSYCHOLOGY. Skip all the books about indicators. BabyPips has already taught you all you really need to know about indicators.

BE THE LEAF!

WATCH IT EVERYDAY BEFORE YOU TRADE.

TheRumpledOne 09-03-2008 08:48 AM

Quote:

more Importantly, Do You See What Usually Does Not Happen?
I'm Lost...
never Give Up!

johnnykanoo 09-03-2008 09:23 AM

Tro I like your style of trading Ive heard storys about streams and young monks and old monks and alot of that type. There is great moral lessons but more important there is great trading lessons. If you are the leaf you are able to flow with the market not concerned with holding on to long and not thinking of the past just flowing collecting pips. Wonderful teaching!!!

You so remind me of fti over on ff sometimes but your trading is so different. He uses alot of aow tactics and like you believes it is war and you have to protect your book.

I like your matrix interjections, in fact my wife never saw that so I went out and bought it 2 days ago. If you look at those candles the way neo sees the matrix and with realization of what you are really seeing and not what you think or what you hope or what you predict or what should be but just let your mind go and release all the old thinking that imprisoned you then you to can become a top notch trader that is feeding off of the very pulse of the market 1 tick or 1 bar or 1 candle at a time.

edacsac 09-03-2008 09:51 AM

Quote:

Originally Posted by TheRumpledOne (Post 66029)
On the EURUSD trade...

The price was below the moving average AND the moving average was heading south.. what's the reason you bought?

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.

FXCaribbean 09-03-2008 10:26 AM

Quote:

Originally Posted by TheRumpledOne (Post 66069)
never Give Up!

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 ?

Skyline 09-03-2008 10:27 AM

Quote:

Originally Posted by TheRumpledOne (Post 65835)
http://i37.tinypic.com/2gv9cpl.gif

TRO_ASK_LINE will plot the Ask line for you.

See, you don't have to send me a donation. It's FREE!

TRO_ASK_LINE
MT4 indicator including source code attached.

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


All times are GMT -4. The time now is 12:46 AM.


Copyright ©2008 BabyPips.com LLC. All rights reserved.


Content Relevant URLs by vBSEO 3.2.0