2009.04.02 RULE OF THUMB STILL IN EFFECT

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TheRumpledOne
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2009.04.02 RULE OF THUMB STILL IN EFFECT

Postby TheRumpledOne » Thu Apr 02, 2009 12:10 pm

2009.04.02 #1 RULE OF THUMB STILL IN EFFECT

Image

For some reason, some of you traders FORGOT my #1 RULE OF THUMB:

ALWAYS TRADE WITH THE H1 CANDLE COLOR - NEVER TRADE AGAINST THE H1 CANDLE COLOR.

I realize some of you are new, but I know a couple of "old timers" who seemed to have forgotten.

I added the H1 BIAS line to TRO_DYNAMIC_FIBS_SR_Trail to remind you.

New DRAIN THE BANK rev3 zip file is attached.
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tro_drain_the_banks_rev03.zip
(72.09 KiB) Downloaded 1921 times
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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johnsund
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Postby johnsund » Thu Apr 02, 2009 3:31 pm

TRO - fyi when the new version downloads, it automatically goes to the chart where the previous version was loaded and places the H1 bias indicator, and the rev level does not change (i.e., in the indicators list the rev level is still 02).
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Postby eudamonia » Thu Apr 02, 2009 4:18 pm

Avery,

Agreed. A few times a week we will typically get a decent breakout that will sustain for several hours. Many folks try fading the trend and get burned.

Things to look for: 1) big news days, 2) fast market "pace", 3) high volatility, 4) strong support/resistance at wholesale retracements, 5) hourly candles consistently making new higher highs or lower lows.

Days like this are actually fantastic opportunities if played well. I have two favorite plays: 1) look to buy/sell "wholesale" retracements (i.e. look at the retracement that touched support on your chart at 13:15), 2) fade the "barf". This requires a bit of practice. Basically you are waiting for a retracement play to expend itself (usually in stages) when the losing side (sellers this morning) barfs their positions and prices surge to try to make new highs - but can't quite make it. Perfect fading opportunity.

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.
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Postby TheRumpledOne » Thu Apr 02, 2009 9:29 pm

johnsund - there is no rev level in the indicators list. Everything is just fine.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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sahars
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Re: 2009.04.02 RULE OF THUMB STILL IN EFFECT

Postby sahars » Fri Apr 03, 2009 12:40 am

TheRumpledOne wrote:2009.04.02 #1 RULE OF THUMB STILL IN EFFECT

Image

For some reason, some of you traders FORGOT my #1 RULE OF THUMB:

ALWAYS TRADE WITH THE H1 CANDLE COLOR - NEVER TRADE AGAINST THE H1 CANDLE COLOR.

I realize some of you are new, but I know a couple of "old timers" who seemed to have forgotten.

I added the H1 BIAS line to TRO_DYNAMIC_FIBS_SR_Trail to remind you.

New DRAIN THE BANK rev3 zip file is attached.


Hi TRO...

Your indicator is awesome... 8) . Actually I'm new in this forum and Forex as well..but I found your idea is fantastic and I've tried your method and so far gave me 95% win...

BTW..what is the meaning of "H1 : Bias Long"...?!. What action that we should take when this message appeared at the 15M TF..?! Are we going to maintain go for long or wait until the confirmation...or others..?!

Thank you for kind explanation on this matter.

Cheers

Sahars
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Postby TheRumpledOne » Fri Apr 03, 2009 1:06 am

ALWAYS TRADE WITH THE H1 CANDLE COLOR - NEVER TRADE AGAINST THE H1 CANDLE COLOR.

The bias tells you which way to trade to be trading with the H1 candle color.
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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sahars
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Postby sahars » Fri Apr 03, 2009 1:38 am

TheRumpledOne wrote:ALWAYS TRADE WITH THE H1 CANDLE COLOR - NEVER TRADE AGAINST THE H1 CANDLE COLOR.

The bias tells you which way to trade to be trading with the H1 candle color.


Thanks TRO for the kind explanation...

But, when I trade using 15MTF, the direction that I opened the trade is always against the direction in 1H TF. For example, at the 15MTF says it's time to Sell, but at the 1H TF say is H1 Bias : Long...and most of the time I win the trade... So for this case..which direction are you recommend...1HTF or 15MTF...?! FYI, I'm using your "Never Loss Again" system in this method...

Thanks for your kind clarification.

Cheers

Sahars :)
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Postby aqcmme » Fri Apr 03, 2009 11:25 am

RumpledOne Sir,
I am a forex newbie and i addicted to your post(s). i have since downloaded DTBs but i think i have some font problems with MT4 platform. I know this is off topic but if you could help me resolve the SR trails so they looked like yours instead of some foreign language, i'll be most thankful. My news headlines also came out gibberish, if this appears to be amateurish i do sincerely apologize.



Many many thanks in advance, kudos to your awesome work!

aqcmme (its my first post, pls be gentle)
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TheRumpledOne
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Postby TheRumpledOne » Fri Apr 03, 2009 7:15 pm

Make sure have the Wingdings font in your font folder.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby noone22 » Sat Apr 04, 2009 7:34 am

What is the meaning behind series of all "5" or "6" numbers in the boxes
(appearing on top of some peaks) and what trading information they're giving?
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