TRO TRADING VIDEOS

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TheRumpledOne
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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Mon Sep 19, 2022 1:43 pm

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Re: TRO TRADING VIDEOS

Postby IgazI » Mon Sep 19, 2022 9:30 pm

This is my favorite method to use on large charts (H4+):
- 3 line break chart
- line in the sand on the first double green/red close
- trade long or short from the line.

H4 chart:
^GBPUSD_line-in-sand.png
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TheRumpledOne
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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Tue Sep 20, 2022 1:19 pm

IgazI wrote:This is my favorite method to use on large charts (H4+):
- 3 line break chart
- line in the sand on the first double green/red close
- trade long or short from the line.

H4 chart:
^GBPUSD_line-in-sand.png


What's that SQUIGGLY doing on your charts? :lol: :shock:

Why is it called 3 line break?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Tue Sep 20, 2022 1:29 pm

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

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IgazI
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Re: TRO TRADING VIDEOS

Postby IgazI » Tue Sep 20, 2022 5:17 pm

TheRumpledOne wrote:
IgazI wrote:This is my favorite method to use on large charts (H4+):
- 3 line break chart
- line in the sand on the first double green/red close
- trade long or short from the line.

H4 chart:
^GBPUSD_line-in-sand.png


What's that SQUIGGLY doing on your charts? :lol: :shock:

Why is it called 3 line break?


A Line Break chart plots a close only when it is a higher close than the previous plot, this new plot is called a 'line'.

A 3-Line Break chart will only plot the reversal when price closes below the previous 3 higher closes.


Line Break charts work like this.

The squiggly is a 4 period MA of the open price, and it basically simplifies the chart into a basic shape that these old dog eyes can readily see.

When you are zoomed in you don't really need it, although some might use one of the previous plots as an entry/exit signal as it is basically a trend line.



^GBPUSD_Barchart_Squiggly.png
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Re: TRO TRADING VIDEOS

Postby buffalo » Tue Sep 20, 2022 7:35 pm

IgazI wrote: When you are zoomed in you don't really need it, although some might use one of the previous plots as an entry/exit signal as it is basically a trend line.


can you elaborate on this? "previous plots" being where you marked the double green/red closes from a few posts back?

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Re: TRO TRADING VIDEOS

Postby IgazI » Tue Sep 20, 2022 7:51 pm

buffalo wrote:
IgazI wrote: When you are zoomed in you don't really need it, although some might use one of the previous plots as an entry/exit signal as it is basically a trend line.


can you elaborate on this? "previous plots" being where you marked the double green/red closes from a few posts back?


Those are two different things.

The 'double line' line in the sand is just that, an auto generated line to trade away from.

With the MA you might select the MA plot above the last double close lower as your trend line break for entries or exits;

I say 'might' because looking backward to the 5th close lower on the chart you can see that there were 5 periods that followed which closed lower but did not make much progress, and you probably would want to hold off lowering your TL break point.

The 'line in the sand' tells you which way to trade.

The TL breaks are for stops or another way to take a reversal trade across a line in the sand.

^GBPUSD_Barchart_E-E.png
^GBPUSD_Barchart_E-E.png (93.58 KiB) Viewed 199 times
Algorand:30,005 The Graph: 37,589
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Re: TRO TRADING VIDEOS

Postby buffalo » Tue Sep 20, 2022 10:42 pm

IgazI wrote:
buffalo wrote:
IgazI wrote: When you are zoomed in you don't really need it, although some might use one of the previous plots as an entry/exit signal as it is basically a trend line.


can you elaborate on this? "previous plots" being where you marked the double green/red closes from a few posts back?


Those are two different things.

The 'double line' line in the sand is just that, an auto generated line to trade away from.

With the MA you might select the MA plot above the last double close lower as your trend line break for entries or exits;

I say 'might' because looking backward to the 5th close lower on the chart you can see that there were 5 periods that followed which closed lower but did not make much progress, and you probably would want to hold off lowering your TL break point.

The 'line in the sand' tells you which way to trade.

The TL breaks are for stops or another way to take a reversal trade across a line in the sand.

^GBPUSD_Barchart_E-E.png


so here i would be short at the open of candle 2 because it crossed the line-in-sand of the prior up move. and not even thinking long until a new plot above the double red (marked with 1&2)?

9202022.PNG
9202022.PNG (16.55 KiB) Viewed 168 times

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Re: TRO TRADING VIDEOS

Postby IgazI » Wed Sep 21, 2022 2:51 am

buffalo wrote:
IgazI wrote:
buffalo wrote:
can you elaborate on this? "previous plots" being where you marked the double green/red closes from a few posts back?


Those are two different things.

The 'double line' line in the sand is just that, an auto generated line to trade away from.

With the MA you might select the MA plot above the last double close lower as your trend line break for entries or exits;

I say 'might' because looking backward to the 5th close lower on the chart you can see that there were 5 periods that followed which closed lower but did not make much progress, and you probably would want to hold off lowering your TL break point.

The 'line in the sand' tells you which way to trade.

The TL breaks are for stops or another way to take a reversal trade across a line in the sand.

^GBPUSD_Barchart_E-E.png


so here i would be short at the open of candle 2 because it crossed the line-in-sand of the prior up move. and not even thinking long until a new plot above the double red (marked with 1&2)?

9202022.PNG


I'm going to rewrite my reply simply as 'take longs above the line and shorts below'.

Each new LIS invalidates the previous.

Trend line breaks appear to fall just outside of the 3-line break.
Algorand:30,005 The Graph: 37,589
I DO NOT TRADE FOREX AND I AM NOT A DAY TRADER | ASK A DAY TRADER FOR HELP WITH DAY TRADING!

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TheRumpledOne
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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Wed Sep 21, 2022 12:58 pm

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


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