TheRumpledOne Donational Indicators

[TheRumpledOne]

TRO_TRADE_MANAGER









I had written the TRO TRADE MANAGER for TradeStation.

You tell TRO TRADE MANAGER your entry, entry direction, TP and SL. TRO TRADE MANAGER will tell you how the trade is going. It also shows how many pips you are up or down.

TRO TRADE MANAGER use BID price if you are LONG and ASK if you are SHORT to calculate the profit/loss.

Also, all of the messages are INPUTS, so you can change them to your liking.

[prochargedmopar]

TRO_SupResHHLL. What is the proper setting for "my bars"? I think it's set default at 34.

I've read using DynFib that is uses 21 bars and the current is 0. Should the above program be set to the same setting?
Thanks.
Pro

[TheRumpledOne]

There is no "proper" setting.

You can use the default or you can change it to your liking.

[TheRumpledOne]

I am working on the first batch of 2009 Donational indicators.

[prochargedmopar]

TRO,
The exercise I talked about in the 2% club last night was a fiasco. eur/usd
I tried to stick to the BuyZoneFD ONLY but it didn't work.

Started about 2:30am. 15 trades in I was -27 pips and starting to break all kinds of rules. I then threw all the indicators out the window and started trading in no mans land. BZ lines were either at the top or bottom of the screen most of the time. All I watched was the H1 candle and I couldn't even resist going against it half the time. Price was giving me a different signal. I tried to "be the leaf" and ride the river stream. lol I was almost back even by 6:am and things started to roll about 6:40am. I shut it down at 8:45am with 45 trades and ending up with +93 pips at a dollar a pop. I used the 1M charts.

Whew, that was stressful as I've got a long ways to go "upstairs".
I even took a trade accidentally on a currency that I didn't have a window open for and lost 9pips on it before I figured out what was going on while I watched eur/usd go up 25. I did not use any stops as i couldn't figure out how to get those things to work. The one time I did try I got stopped out and I swear price was no where near my stop.

This could have turned out much better if I had my head together as I took many "wrong way" trades and left ALOT on the table.

It's back to the drawing board. DO YOU HAVE ANY SUGGESTIONS for a complete and total noob. I feel now that your sweetspotsgold may be best AS YOU SUGGESTED. Can I use that on a 10 or 15 pip spread to speed up the action??? This was really my first "day" to trade other than about 10 or so intermittent trades here and there. I know for one thing I've got to read "trading in the zone" a few more times and figure out how to use MT4.

Anyway, I hope you have a Happy New Year!
Thanks for all the help so far. Your info, believe it or not, was crucial in me coming out on top last night.
Pro

[TheRumpledOne]

H1 candle chart.

Sweetspots gold indicator.

Trade with the candle color at the PSYCHOLOGICAL lines... 00, 25, 50 and 75.

That's all you have to do.

FOCUS.

[prochargedmopar]

Ok, Here's what I've got set for next week.
Moving to .2 of a lot and will be risking 2% @ a 10pip mental S/L.
Charts.

#1
TRO_Multi_Meter_CandleColor
SHI_channel_true_TRO_MODIFIED_VERSION
TRO_Heat_Map

#2
SP Range
TRO_Multi_Meter_CandleColor
TRO_HL_STATS2
TRO_TRAININGWHEELS
TRO_SS_RR

#3
TRO_Multi_Meter_CandleColor
TRO_TRAININGWHEELS
TRO_Multi_Meter_Pivot
sweetspotsGold
SP_Range

#4
TRO_MMPM_PSYCHO
TRO_MPMM_CandleColor
TRO_Multi_Meter_CandleColor
TRO_HL_STATS2

I'll trade the #3 H1 sweetspotsgold chart as you advise.
I will add more stats to the #4 chart as I find the need.
I will scalp the M1 and M5 using charts #1 and #2 as time permits.

Can I call a BS on people saying it is dangerous to "over trade"?
Question.
If we are the Casino and maintain our edge I would think the more we trade the more we win.

Example. My first trading night I had 45 trades. My "winning" percentage was 62.222222222%. I would think the more hands of blackjack the casino (me) can run through the tern styles the more I would have profited. 90 trades would have been 186pips.
No?

Thanks again.
Pro

P.S.
I might have answered this myself by listening to "Trading for a Living" again. Slippage, Commissions, and trading well NOT often. He says most private traders fritter away their advantage of being able to stay out of the market where as the BIG commodities traders don't have a choice.
Statistically it still doesn't make sense to me to trade less.

Any other advice or input is surely appreciated.

[TheRumpledOne]

TOO MANY CHARTS!!!

Template attached.

Trade with the color of the H1 candle at the FIRST line it touches.

Unless the candle opens on the line, then it opens betweens two lines.

The line above the open is your LONG TRIGGER.

The line below the open is your SHORT TRIGGER.

If you are in a trade LONG and the H1 candle turns RED, then, I would suggest you STOP OUT.

If you are in a trade SHORT and the H1 candle turns GREEN, then, I would suggest you STOP OUT.

Simple.

Over trading? Hit your daily goal and QUIT. If you do that, you end the day a winner. That's the point.

Once again, simple.

[zapzinig]

This is my trading plan for 2009:

It is exactly 100 words. Simple yet brilliant.
Thanks TRO.

[prochargedmopar]

GULP,
The author says (grudgingly, sheepishly, and timidly)
ok