Never Lose Again

[ptejerina]

TRO,

Yes, you're right. Like I said in my post, I saw the 1-2-3 afterwards, and was looking to trade the psychological line. I'm just beginning to train my eyes! I'll get there!

Winny,

Yes, the stoploss may be big, but I'm papertrading to see what an optimal stoploss should be based on statistics of % of winners, risk/reward, etc. I'll share if I find it.

Thanks for your replies.

[TheRumpledOne]

It doesn't hurt to add the PSYCHOLOGICAL LINES and the MULTIMETER CANDLE COLOR indicator.

[TheRumpledOne]

If you need help seeing, the MAGNIFIED MARKET PRICE comes in handy.

I attached the indicators and the template.

NO EXCUSES!!

[ptejerina]

Just like the person above who entered this trade http://kreslik.com/forums/viewtopic.php?p=12847#12847 - may not understand the ways that fibs and waves work ( ps your entry for this short trade was probably closer to 1.2675 - for a quick scalp - it looked like you were entering in the middle of a fib retracement as well

Razorboy, you may be right about the waves, but actually, I'm just trying to unlearn what I know about fibs to use them only as profit targets. Anyway, I may take TRO's advice and start trading the easier buzzard reversals only to begin with.

Thank you.

[TheRumpledOne]

OK, you may want to use the TRO DRAGON MONEY MANAGEMENT indicator so you know how many lots to trade.

[TheRumpledOne]

TRO,

Yes, you're right. Like I said in my post, I saw the 1-2-3 afterwards, and was looking to trade the psychological line. I'm just beginning to train my eyes! I'll get there!

Winny,

Yes, the stoploss may be big, but I'm papertrading to see what an optimal stoploss should be based on statistics of % of winners, risk/reward, etc. I'll share if I find it.

Thanks for your replies.

IT'S EVEN SIMPLER THAN THAT!

One problem that traders have is OVER TRADING.

Waiting for BUZZARD REVERSALS takes care of that. Think about it.. how many BUZZARD REVERSALS can there be in a day per pair? 7!

That would be GGGRRRGGGRRRGGGRRRGGGRRR

or RRRGGGRRRGGGRRRGGGRRRGGG.

But I don't count on that happening ( now I just might have to write an indicator to see how many times.....LOL )

So waiting for a BUZZARD REVERSAL takes care of the over trading problem. Some hours have NO BUZZARD REVERSALS!!

And you only get to trade the reversal ONCE. NO DOUBLE DIPPING. TAKE YOUR PIPS AND QUIT.

Using the DRAGON MONEY MANAGEMENT will keep you ahead of the game. You would have to lose 20 times in a row to crap out. So long as you are NOT GREEDY, then you shouldn't crap out.

All you have to do is COUNT TO 3.

Then once you enter the trade, either take pips or stop out. That's it. There's nothing else to do.

You do NOT have to learn anything else, IT'S THAT SIMPLE.

But I know some of you can NOT resist the temptation to stick a SQUIGGLY on your chart...LOL! What's the reason you need it? If you are trading BUZZARD REVERSALS, you have STATISTICS on your side. You have the "edge". So what's a SQUIGGLY going to do for you? Once you're in the trade all that matters is PRICE and you can see that with your eyes.

STOP THE MADNESS!! I see what's going on over on BabyPips. Feel free to copy these posts from today and paste them on BabyPips in the NEVER LOSE AGAIN THREAD.

LET'S KEEP IT SIMPLE AND PROFITABLE.

- Avery aka TheRumpledOne

[ptejerina]

I'm glad my losing trade helped prove a point

[winny]

THIS IS ALL YOU REALLY NEED TO TRADE



A H1 candle chart.

At the moment there are NOT 3 RED or 3 GREEN candles in a row so..

NO TRADE THIS HOUR!!

I personally only use your buyzone and I trade during the opening and busy hours. Thats pretty much it for me. I did not know that you also filter by waiting for these 3 green/red candles in a row for a high probability setup. Did not look into it that way before.

The only problem for me is that this 3 candle setup can form all day long.
So I am tied to the pc this way. But it can be used with a pda also.
Very good. Thank you.

[TheRumpledOne]

Winny, if what you are doing is working for you then DO NOT CHANGE A THING!!

[TheRumpledOne]

GO SHORT OR LONG?