2009.03.17 TRO - NEVER LOSE AGAIN!!

[TheRumpledOne]

ALL YOU NEED TO TRADE IS A HORZONTAL LINE



Use a simple bar chart.

Before you make your enter, plot a HORIZONTAL LINE at your entry point.

Can you SEE if you are about to make a mistake?

After you make your entries, plot a HORIZONTAL LINE at your average price.

Can you SEE if you will ever make a profit?

I updated TRO_NB_SR_Alert to plot HORIZONTAL LINES at the input prices.

[hopearisen]

Hi Tro,
Reference to the chart above with TRO_NB_SR_Alert.zip.
What is the wisdom of effective usage?
My observation--- please guide me if wrong
1) indicator placed when price at 1.60790
2) price moved up 120 pips to 1.61994.
3) price action indicates up-ward movement
4)price approaching previous price high(resistance)
what do you base your decision on to/not take the trade?
on making decision to enter,ENTER and place the indi at entry.
Is your decision to enter based on figures at top left chart corner
1.61335 1.62301---?
Is the trade restricted to just D1?

thanks for your usual guidance and help.

[TheRumpledOne]

hopearisen:

You are confusing the matter.

The idea is to look and SEE what the HORIZONTAL LINES are telling you.

Are there a lot of highs and/or lows that closed near one of the lines?

Are most of the bars above or below one of the lines?

Answer questions like those and you will be able to SEE better.

Is the trade restricted to just D1?

How many times must I say: PRICE IS THE SAME ON ALL CHARTS?

You are not trading charts, you are trading price!!

After you enter a trade, it doesn't matter what chart you look at, PRICE IS THE SAME!!

If you are up 10 pips on M5 then you are up 10 pips on D1.

If you are down 20 pips on D1 then you are down 20 pips on H1.

PRICE IS PRICE!!

[TheRumpledOne]

PRICE IS THE SAME ON ALL CHART PERIODS.

The lines are from the H1, M30, M15 and M5 open prices.

Compare the colors of the lines to the colors on the multimeter.

[hopearisen]

Thank you for the enlightenment Tro,I really appreciate it.

[TheRumpledOne]

In your own words, HOW HAVE YOU BEEN ENLIGHTENED?

[TheRumpledOne]

Interesting:

http://articles.mql4.com/915

[TheRumpledOne]

Another read:

http://articles.mql4.com/894

[TheRumpledOne]

And another...

http://www.moneytec.com/forums/f199/for ... ons-28794/

[hopearisen]

Yeah, haven't been introduced to trading, dogmatised to trade crossing lines rather than price action as seen moving up/down. I discovered this forum few months ago in quest for something that would make me at least profitable/good trader.
I was flabbergastered by your response to my question on 'best indicator to use'- I dont need any indicator. I had mixed feelings,like yes! this is my quest but deep down I was wondering how would that be possible. Then I knew I have to learn and committed to follow your treads,teachings and ebooks. I felt an iota confidence winning 3 of my 4 green rat trade on friday feb 3rd '11 based on your teachings.
It was like, bye bye illitracy here I come readiness and determined to be literate. You guys are doing great job in this forum- saving lost,unprofitable trader to be hopeful and profitable with willingness to help someone too,in the nearest future,KUDUS!

Okay,
I have learnt from you ALOT but got the handle of-
1) dealing with my emotion and take loss same way I would to profit and rather learn/cut down my losses than mourn.
2) price actions-
a)price move up or down and are same on all charts
b)price breaks out of previous high or low etc
3)learnt and recognise the trade facts from myths
4)learnt to wait and always turn left,in one direction always.
5)to discipline self....etc thank you,this's huge for me. I'm getting there.
Still learning still.
I would attempt those questions on the referenced to the chart for your acknowledgement for clear vision,please.

1)Are there lot of lows and/or high that close near one of the lines?
there are more lows and few high that closed near the the top line at 1.60966.

2) Are most of the bars above or below one of the lines?if with ref to 1,
there are more bars above the lines, otherwise
there are more bars below the lines.
thanks for usual guidance.