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dragon33 09-11-2008 04:06 PM

Hey TRO as you can see it is working for me. Thanx again for learning.
In which indicator is H1 bias??

Is it usefull? I am doing well now.

I just need to find another broker, my spreads are to big.
I tried the EFX group but it is difficult for me because i am used to a very simple platform from Myprivate trade.

If i have smaller spreads i can take even more trades.

CountryPip 09-11-2008 04:35 PM

The only success I have ever had with any of Tro's ideas is the one he spent least time talking about. That was, drawing horizontal lines at .00/.25/.50/.75 During days with no news it works really well. If I get a green bar on a line, I wait for a red bar to break past the green bars lower wick. From there my scalp trade is in play and I take my profit when it looks like its fallen the average all the other red candles on the screen have. I usually play it safe and get out a little earlier. Max I am in is probably 2-4 minutes. Today, however, with the French non-farm payrolls out and some news out of Italy I couldn't find a moment where it worked. HOWEVER it was a good day for fundamentals if you got on the NZD/USD. New Zealand lowered their interest rate again.

P.S. I have read over every post TRO posted on this thread, it took me over 3 hours to read all of it whilst testing all of the indicators uploaded.

I have come to the conclusion that the FIBS SR is a really dangerous indicator (in my humble opinion) The dynamic adjust really scares me. Yes price is dynamic, BUT it's also a stretch to say it works every time when... that's what its programmed to do. Dynamically readjust to justify it's existence, some what like a virus does to become immune to medication.

However, when used in conjunction with some basic S/R knowledge it becomes helpful, NOT the S/R levels that are given from the FIBS.

This is not a slam against TRO, some of his ideas are great in concept, but when I put them into practice I have not had success with them. I did enjoy reading through the posts and enjoyed experimenting with the indicators, thank you for that.

I did have a couple of arguments for you. You say price knows no direction/trend. This is an unfair argument. Price knows nothing, it's a concept. HOWEVER, price is controlled by human beings whom can see slopes/trends by simply----(OBSERVING!!!!) By your argument, if price was... dumb, then price could be theoretically 1.3999 today and 2000.3293 tomorrow. yes 2000 Euro, YET history has not yet shown us that this is possible.

Those who do not learn from history are doomed to repeat it.

TheRumpledOne 09-11-2008 04:38 PM

Quote:

Originally Posted by ewokuk (Post 67543)
thats only going to work on gbpjpy where the average hourly range is more than double almost every other common pair, i had fun getting wiped out for 2 days trying it on eurusd. it developed a very nice habit of going 2 or 3 pips past one of my lines before shooting in the other direction, probably doesnt help that i used 00,25,50,75 as my levels which is probably where things turn, better to use 13,38,62,80 i guess but that would be more fiddling with my indicator to get the alerts.

broker is p*ssing me off with slipped stops. its quite funny today i pressed close trade when it decided ti whipsaw against me and got a nice dialogue box saying "rate has expired plase try again". so i had to click ok and press it again to get it to close......10 pips lower (and this is with 1 click trading on. another time i watched it creep up and go 1 pip past my stop before it closed. then the best bit, i had a trade earlier with a take profit of 5 pips, it went up and got to 7 pips profit before it closed, they conveniently only credit me with 5 pips. so they like to stop the stops when you lose, and mysteriously fail to slip the stops when you win, good stuff, well done fx solutions.

FIXED SPREAD BANDITS!!


When will you traders learn to trade with ECN brokers only?

TheRumpledOne 09-11-2008 04:43 PM

Quote:

Originally Posted by ewokuk (Post 67549)
what made you short it there? it hadnt triggered a sell by bouncing off the resistance line and had a green bar and uptrend just before it, if anything i would have been going long.

you have exactly the same charts open in mt4 that i use, i managed to lose one after another all day so you must be understanding the indicator differently than me somehow.

those are really bad spreads as well, 5 pips on eurusd :eek: and still lots of profits while im losing.

i will look at other brokers but the 400:1 leverage is all thats allowed me to continue with so little left in there, and i have no intention of putting another penny into it until i am consistently profitable. would have looked at MBT but their platform is something out of the stone age, i couldnt stand it with the demo.

I use MB TRADING.

I use the MARKET DEPTH (LEVEL II) window to place my trades.

NO, they don't have MT4 charting (yet).

Just use a fixed spread bandit's MT4 demo platform for charting! The quotes are close enough AND once you learn how to read the differences, you'll have a HEAD'S UP on which way the market is about to move.

TheRumpledOne 09-11-2008 04:46 PM

Quote:

Originally Posted by F X (Post 67557)
Hey TRO,

Would you add the following fibs to the TRO_SS_RR
extern double iLevel6=1.00;
extern double iLevel7=1.214;
extern double iLevel8=1.1618;
extern double iLevel9=2.00;
extern double iLevel10=2.618;

There is something I am not doing correctly to get the lines to project correctly on the chart.

Thx, FX

I'll have to think about it... but right now, it doesn't seem to make sense because once price breaks out, the lines will move. I'll see what I can do.

TheRumpledOne 09-11-2008 04:49 PM

Quote:

Originally Posted by edacsac (Post 67552)
I hate this system... I f**ing hate it. I try to understand, I think that I am understanding and I turn around and lose huge amounts of money (for me) every time. I've read this whole thread several times. Everything in hindsight makes sense. But the majority of my trades go big in the exact opposite direction. Thank God I only risk a little bit on each trade.

I opened a buy on the EUR/USD today at 17.04 at 1.3950. H1 was in agreement. SL was 1.3931 and TP was 1.3960. I have to use a stop loss since I'm at work and I might not be able to monitor my trade, but no matter since it never even began to go in my direction anyway. 15 minutes go by and I loose almost 3 times what I barely pull in on a good trade. for every 10 pips I win, I lose 50 or 60. I don't even care about the money anymore. What matters now is learning and doing it right, and making a good trade once in awhile. Just a little success.

STOP TRADING IMMEDIATELY!!

WAIT.

WATCH.

OBSERVE.

SEE.

YOU HAVE MISSED SOMETHING!!

Also, trading while at work when you can't focus on YOUR MONEY, is NOT a very smart thing to do.

TheRumpledOne 09-11-2008 04:52 PM

Quote:

Originally Posted by metalorn (Post 67560)
Like others here I'm devastated. I thought I was calling the good trades but everything went down today. I'm about to blow a us$3,000 account and all I'll have left is $500. I'll get back on the street looking for a job.

SUCCESS LEAVES CLUES!

dragon33 is collecting pips and so is bearpaw.

These traders are showing your their charts and methods.

You should be able to SEE what they are doing so you can do the same.

IF YOU CAN'T SEE IT, YOU CAN'T TRADE IT!!

TheRumpledOne 09-11-2008 04:54 PM

Quote:

Originally Posted by dragon33 (Post 67575)
Hey TRO as you can see it is working for me. Thanx again for learning.
In which indicator is H1 bias??

Is it usefull? I am doing well now.

I just need to find another broker, my spreads are to big.
I tried the EFX group but it is difficult for me because i am used to a very simple platform from Myprivate trade.

If i have smaller spreads i can take even more trades.

I wrote a few bias indicators.

Also, the TRO SR RR has bias code inside.

TheRumpledOne 09-11-2008 04:59 PM

Quote:

Originally Posted by CountryPip (Post 67577)
The only success I have ever had with any of Tro's ideas is the one he spent least time talking about. That was, drawing horizontal lines at .00/.25/.50/.75 During days with no news it works really well. If I get a green bar on a line, I wait for a red bar to break past the green bars lower wick. From there my scalp trade is in play and I take my profit when it looks like its fallen the average all the other red candles on the screen have. I usually play it safe and get out a little earlier. Max I am in is probably 2-4 minutes. Today, however, with the French non-farm payrolls out and some news out of Italy I couldn't find a moment where it worked. HOWEVER it was a good day for fundamentals if you got on the NZD/USD. New Zealand lowered their interest rate again.

P.S. I have read over every post TRO posted on this thread, it took me over 3 hours to read all of it whilst testing all of the indicators uploaded.

I have come to the conclusion that the FIBS SR is a really dangerous indicator (in my humble opinion) The dynamic adjust really scares me. Yes price is dynamic, BUT it's also a stretch to say it works every time when... that's what its programmed to do. Dynamically readjust to justify it's existence, some what like a virus does to become immune to medication.

However, when used in conjunction with some basic S/R knowledge it becomes helpful, NOT the S/R levels that are given from the FIBS.

This is not a slam against TRO, some of his ideas are great in concept, but when I put them into practice I have not had success with them. I did enjoy reading through the posts and enjoyed experimenting with the indicators, thank you for that.

I did have a couple of arguments for you. You say price knows no direction/trend. This is an unfair argument. Price knows nothing, it's a concept. HOWEVER, price is controlled by human beings whom can see slopes/trends by simply----(OBSERVING!!!!) By your argument, if price was... dumb, then price could be theoretically 1.3999 today and 2000.3293 tomorrow. yes 2000 Euro, YET history has not yet shown us that this is possible.

Those who do not learn from history are doomed to repeat it.

The only success I have ever had with any of Tro's ideas is the one he spent least time talking about. That was, drawing horizontal lines at .00/.25/.50/.75

That has its own thread.

I have come to the conclusion that the FIBS SR is a really dangerous indicator (in my humble opinion) The dynamic adjust really scares me. Yes price is dynamic, BUT it's also a stretch to say it works every time when... that's what its programmed to do. Dynamically readjust to justify it's existence, some what like a virus does to become immune to medication.

TRO DYNAMIC FIBS SR is not one of those "repainting" indicators. It moves in real time with the price. If you watch it, you'll see when support is getting pushed down or when resistance is getting pushed up.


I don't expect everyone to agree with everything that I post.

There's room for healthy debate. We all benefit.

Thank you for being polite.

TheRumpledOne 09-11-2008 05:03 PM

dragon33 TRADING METHOD

http://i38.tinypic.com/10mtu2o.gif

The only thing i use is the free indicator from TRO (dynamic SR)

I also use the 50 ema high and low to get the direction.

If the ema's are flat (horizontal) i don't trade. It could be a reversal.

I get in when the indicator trigger the go short signal and when ema's are down, H1 and D1 are red get ready it could be a big trade.

If the dynamic indicator trigger a buy signal i only get in when H1 is green, if not i'l wait until its green.

Otherwise i go for a small gain (5pip)

If H1 never turn green i take a new short if it breaks last resistance only when the H1 candle is not to big already.

Calculate the average of the last (choose your number) red candles.

ewokuk 09-11-2008 05:25 PM

Quote:

Originally Posted by TheRumpledOne (Post 67579)
I use MB TRADING.

I use the MARKET DEPTH (LEVEL II) window to place my trades.

NO, they don't have MT4 charting (yet).

Just use a fixed spread bandit's MT4 demo platform for charting! The quotes are close enough AND once you learn how to read the differences, you'll have a HEAD'S UP on which way the market is about to move.

their platform is the worst ive ever seen, i wont go near them until they have a new completely rewritten platform, and lower commissions.

my current (or ex broker since my account is now empty) doesnt use mt4 either, not bothered about that. broker isnt going to help me place winning trades either way, im clearly not seeing something that dragon33 is seeing. from the looks of it and what he said, i dont think hes even using the SR indicator, hes just looking at the price but i still cant see it. like i said on his last trade, if anything i would have been going long not short on it, price just went up by 150 pips over the previous 3 hours, then a red bar, then a green and i would have gone long from there thinking it would continue up, instead it drops 50 pips. ok he waited for it to go red, which would have only taken 1 pip as it was the start of the hour, do you know how many times today something has gone red or green for a couple of pips and then i place a trade only to see it fly the other way?

it makes absolutely no sense to me what so ever, in theory i could flip a coin and win half my trades so how is it i manage to lose almost all of them, except the odd lucky one apparently.

daedalus 09-11-2008 05:44 PM

Quote:

Originally Posted by metalorn (Post 67560)
Like others here I'm devastated. I thought I was calling the good trades but everything went down today. I'm about to blow a us$3,000 account and all I'll have left is $500. I'll get back on the street looking for a job.

You shouldn't be trading a method you don't fully understand and haven't traded successfully for at least 2 months live with real money!!! And if you blew out 2.5k in one day you are WAY over-leveraged in that account. You should be trading 1-2 mini's at the most, especially considering the amount of time you've been with the method.

Save your 500.00, go to demo and start gaining consistency. This isn't an overnight gig so don't get down on yourself. But you put up too much too quickly and its not that easy!

Trading is simple - not easy!

freddyfx 09-11-2008 05:53 PM

from Mexico
 
If trading was ALL so easy and everybody knew how to take the correct trades all the time, then there would be no business anymore for the brokers.

All the so called screamers that seem to do well are merely even trading on demo. The ones that are making the big bucks don't brag about it, I wouldn't. You think I am going to teach my competition on how to do better......just my present thoughts.

TheRumpledOne 09-11-2008 06:00 PM

http://i34.tinypic.com/2lb0y8.gif

Luke, you better get dem dere squiggly lines off of Boss TRO's chart!!

johnnykanoo 09-11-2008 06:10 PM

http://img183.imageshack.us/img183/8423/eurjpysz9.gif



my eyes are finally healing but even a blind man can see this method works. For those of you who are ready to give up please don't you owe it to yourself to learn to use these pearls of wisdom to make you money. Think of them as tools in your trading tool box and yes keep it simple. I think trading with the h1 and d1 bias is insanely simple and that is why it will work for us.

tro I saw the forbidden kingdom this weekend wow great movie. I saw your monk story about the cup that is already full and I think it is a perfect analagy for this trading. If we don't empty our minds of what we think we know we can never make room for more and therefore we are destined to stall right where we are as traders.

dragon33 thanks for all the great posts keep it up!!!

metalorn 09-11-2008 06:43 PM

Sorry, but this is really confusing to me. "If H1 never turn green..." that means the price didn't go up, "... I take a new short if it breaks last resistance..." well, how can it break resistance if it didn't go up? does he mean "support" ??? !!!

Quote:

Originally Posted by TheRumpledOne (Post 67586)
dragon33 TRADING METHOD



If H1 never turn green i take a new short if it breaks last resistance only when the H1 candle is not to big already.



TheRumpledOne 09-11-2008 07:35 PM

Quote:

Originally Posted by johnnykanoo (Post 67602)
my eyes are finally healing but even a blind man can see this method works. For those of you who are ready to give up please don't you owe it to yourself to learn to use these pearls of wisdom to make you money. Think of them as tools in your trading tool box and yes keep it simple. I think trading with the h1 and d1 bias is insanely simple and that is why it will work for us.

tro I saw the forbidden kingdom this weekend wow great movie. I saw your monk story about the cup that is already full and I think it is a perfect analagy for this trading. If we don't empty our minds of what we think we know we can never make room for more and therefore we are destined to stall right where we are as traders.

dragon33 thanks for all the great posts keep it up!!!

Thanks for sharing your thoughts.

Please, tell us what YOU SEE!!

I see RED CANDLES pushing down support and then a BLUE CANDLE rises upward. Hmmmm... could it be as simple as waiting for a BLUE CANDLE to form off HORIZONTAL SUPPORT? CAN YOU SEE THAT?


TO BE CONTINUED...

TheRumpledOne 09-11-2008 07:47 PM

WHAT IS THE DIFFERENCE THAT MAKES THE DIFFERENCE?


Some people are finding success ( some for the first time in their trading lives ) since reading this thread.

Some people are LOSING since reading this thread.

Can't be the thread.

WHAT IS THE DIFFERENCE THAT MAKES THE DIFFERENCE?

Some people are using the methods and indicators and raking in more pips than ever.

Some people are using the methods and indicators and have almost blown their account.

Can't be the methods or the indicators.

WHAT IS THE DIFFERENCE THAT MAKES THE DIFFERENCE?


What is it that one person does that the other doesn't do?

What is it that one person doesn't do that the other person does?

What is the difference between success/failure?

WHAT IS THE DIFFERENCE THAT MAKES THE DIFFERENCE?

What does one person see that the other doesn't?

What does one person fail to see that the other does?

What is the difference between profit/loss?

WHAT IS THE DIFFERENCE THAT MAKES THE DIFFERENCE?

Where does the answer lie?


TO BE CONTINUED...

TheRumpledOne 09-11-2008 08:01 PM

WHAT DO YOU SEE WHEN YOU LOOK AT A CANDLE CHART?

Show a candle chart to a 7 year old and ask them what they see. They may say something like this:

"I see some boxes. Some are red. Some are green. Some are bigger than others. Some have lines stick out the top and/or the bottom. Some boxes are higher than others. Sometimes there is a bunch of red boxes in a row then there are a few green ones."

THAT IS WHAT THEY SEE!!

IS THAT WHAT YOU SEE?

OR DO YOU INTERPRET WHAT YOU SEE?

DO YOUR INTERPRETATIONS PREVENT YOU FROM SEEING WHAT IS REALLY THERE?


TO BE CONTINUED...

TheRumpledOne 09-11-2008 08:05 PM

WHAT DOES A RED CANDLE MEAN TO YOU?


WHAT DOES A GREEN CANDLE MEAN TO YOU?


Please copy the questions and post your answers.

metalorn 09-11-2008 08:12 PM

WHAT DOES A RED CANDLE MEAN TO YOU?
price went lower

WHAT DOES A GREEN CANDLE MEAN TO YOU?
price went higher

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.


johnnykanoo 09-11-2008 08:12 PM

Quote:

I see RED CANDLES pushing down support and then a BLUE CANDLE rises upward. Hmmmm... could it be as simple as waiting for a BLUE CANDLE to form off HORIZONTAL SUPPORT? CAN YOU SEE THAT?
yes I see the same thing price hits the dynamic support and moves up and it is in agreeance with the h1 and d1 bias to me its candy from a baby.

To many people are complicating it or maybe they are to impatient I don't know.

Sweet Pip 09-11-2008 08:14 PM

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.

Is your color format backwards? or was that intentional? :D

To me, A green candle means the price is/closed higher than it opened.
A red candle means the price is/closed lower than it opened.

johnnykanoo 09-11-2008 08:17 PM

Quote:

TheRumpledOne WHAT DOES A RED CANDLE MEAN TO YOU?


WHAT DOES A GREEN CANDLE MEAN TO YOU?
the red candle means price is lower than when the candle opened

the green (blue) candle means price is higher than when it opened

it really is soooo simple!!!!

metalorn 09-11-2008 08:28 PM

If I wasn't seeing SR_RR, I would have taken this buy at 1.4585, because the price is going up, 1H and 1D are green. But then the price went down. So, what am I not seeing / using right? for me it's a valid trade, but it proves me wrong.


http://i37.tinypic.com/zx8dow.gif

TheRumpledOne 09-11-2008 08:43 PM

1 Attachment(s)
http://i37.tinypic.com/2dl2g5j.gif

Some of you may like the results dragon33 has had.

I added the TRO_TUNNEL indicator into the zip file.

The updated TRO_MULTI_METER_IND2 is also included.

But, you have to CHANGE THE INPUTS to get the 50 EMA of the HIGH and LOW.

TheRumpledOne 09-11-2008 08:46 PM

Quote:

Originally Posted by Sweet Pip (Post 67639)
Is your color format backwards? or was that intentional? :D

To me, A green candle means the price is/closed higher than it opened.
A red candle means the price is/closed lower than it opened.

Of course it was intentional!! I wanted to see if anyone would notice.

THAT'S WHAT YOU NEED TO LEARN TO DO... NOTICE!!

TheRumpledOne 09-11-2008 08:50 PM

Quote:

Originally Posted by metalorn (Post 67641)
If I wasn't seeing SR_RR, I would have taken this buy at 1.4585, because the price is going up, 1H and 1D are green. But then the price went down. So, what am I not seeing / using right? for me it's a valid trade, but it proves me wrong.


http://i37.tinypic.com/zx8dow.gif

Is 1.4585 a typo?

I'll wait to hear your answer before I continue.

But, it looks like the long entry was a few bars ago.

Also, if you are having problems with UNPROFITABLE ENTRIES, move up to M15, M30 or H1.

TheRumpledOne 09-11-2008 08:53 PM

if You Are Having Problems With Entries Then Post A Chart Before You Enter The Trade.

Then We Can See Exactly What You Were Looking At And Perhaps Figure Out What Would Help You To Trade Profitably.

ivirus006 09-11-2008 10:17 PM

Metalorn explanation and my understanding.
 
Quote:

Originally Posted by metalorn (Post 67641)
If I wasn't seeing SR_RR, I would have taken this buy at 1.4585, because the price is going up, 1H and 1D are green. But then the price went down. So, what am I not seeing / using right? for me it's a valid trade, but it proves me wrong.


http://i37.tinypic.com/zx8dow.gif

Metalorn everything is right but your thinking about different things. See you wait when a bar crosses the GREEN line (SUPPORT). Like a BULL bar Crosses above SUPPORT line and H1 is BULLISH too that's when you go in (I would wait for bar to close so it doesn't reverse, but that's me). Same for BEARISH, H1 is BEARISH and a BEARISH (down) bar crosses RESISTANCE line you go short. Extra is if daily bar supports hourly bar than you can aim for more pips, but at first get used for small, consistent ones. There also should be alerts sounding from indicator but I mostly ignore them. And that's how I understand it. I tried it today (Sep 11) and made $20 in 2 trades. Why so little? Well because I'm not used to this method, so I just watched for awhile and then tried what I saw. So i went in got scared and got out asap and then saw that it works, but because I'm not seeing it all the way yet and not used to it i got scared. But it did work, so if I increase lots I'm rich!!! EDIT: Well I just missed something. it's not SUPPORT line BUT GO LONG line, so even better bar bounces of or near Support and next bar or same one? (clarify plz) you go long, and if bar goes from Res and through go short you short.

dragon33 09-12-2008 03:07 AM

Quote:

Originally Posted by metalorn (Post 67614)
Sorry, but this is really confusing to me. "If H1 never turn green..." that means the price didn't go up, "... I take a new short if it breaks last resistance..." well, how can it break resistance if it didn't go up? does he mean "support" ??? !!!

Ok you are right, i have a problem with sup and resistance. I switch them sometimes but its still the same. When it is support i say it is resistance so what it is still the same to me.

Shane 09-12-2008 03:21 AM

Quote:

Originally Posted by TheRumpledOne (Post 67563)
As far as efficiency goes... use arrays, lot less coding and easier to change the x/y coordinates.

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.

Afro88 09-12-2008 03:37 AM

I've only read up to page 30 in this thread, but already I'm starting to think that this is one of the better indicators I've tried out. 4 out of 4 trades on the EUD/USD won for me, and I literally sat down at the computer 4 times between jobs to do some quick analysis. Placed my SR and RR using the last 21 bars, placed my go long and go short lines. In a couple of cases I waited and adjusted the lines accordingly. In the others I was lucky enough to catch a trade straight off the bat.

As I'm only going for 10 pips a day, this looks brilliant. Time will tell though....

Oh and thanks TRO for posting this, albeit in a very drawn out (but still interesting!) fashion :D

metalorn 09-12-2008 03:38 AM

Sorry, yes, I meant 1.7585. The last bull candle was full and rising when I opened the chart and I thought I could use it as an example of a trade I would do based purely on 1H and 1D candle.

Quote:

Originally Posted by TheRumpledOne (Post 67646)
Is 1.4585 a typo?

I'll wait to hear your answer before I continue.

But, it looks like the long entry was a few bars ago.

Also, if you are having problems with UNPROFITABLE ENTRIES, move up to M15, M30 or H1.


metalorn 09-12-2008 03:47 AM

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.

Quote:

Originally Posted by ivirus006 (Post 67657)
Metalorn everything is right but your thinking about different things. See you wait when a bar crosses the GREEN line (SUPPORT). Like a BULL bar Crosses above SUPPORT line and H1 is BULLISH too that's when you go in (I would wait for bar to close so it doesn't reverse, but that's me). Same for BEARISH, H1 is BEARISH and a BEARISH (down) bar crosses RESISTANCE line you go short. Extra is if daily bar supports hourly bar than you can aim for more pips, but at first get used for small, consistent ones. There also should be alerts sounding from indicator but I mostly ignore them. And that's how I understand it. I tried it today (Sep 11) and made $20 in 2 trades. Why so little? Well because I'm not used to this method, so I just watched for awhile and then tried what I saw. So i went in got scared and got out asap and then saw that it works, but because I'm not seeing it all the way yet and not used to it i got scared. But it did work, so if I increase lots I'm rich!!! EDIT: Well I just missed something. it's not SUPPORT line BUT GO LONG line, so even better bar bounces of or near Support and next bar or same one? (clarify plz) you go long, and if bar goes from Res and through go short you short.


metalorn 09-12-2008 03:49 AM

hahah! now I understand man! same thing used to happen to me. Thank you for your reply.

Quote:

Originally Posted by dragon33 (Post 67680)
Ok you are right, i have a problem with sup and resistance. I switch them sometimes but its still the same. When it is support i say it is resistance so what it is still the same to me.


dragon33 09-12-2008 03:53 AM

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

Sweet Pip 09-12-2008 03:56 AM

Quote:

Originally Posted by TheRumpledOne (Post 65687)
http://i33.tinypic.com/fzcl5l.gif

The cool thing about the TRO SR RR indicator is you can shift it back. Notice the TRO SR RR (21).12.

I set it back 12 bars so we can see what we would do.

First trade after the blue arrowhead, the candle color is GREEN at the go Long line so we have a winner.

2 bars later, the candle color is GREEN at the go Long line so we have a winner.

Notice the candle color of the BIG RED BAR is RED AT THE LINE!!!

YOU DO NOT GO LONG AT THE LINE IF THE CANDLE IS RED!!


So show me the loser ;)

TO BE CONTINUED...

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 :)

Shane 09-12-2008 03:59 AM

Quote:

Originally Posted by freddyfx (Post 67599)
You think I am going to teach my competition on how to do better......just my present thoughts.

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.

Afro88 09-12-2008 04:07 AM

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.


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