2009.03.17 TRO - NEVER LOSE AGAIN!!

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TheRumpledOne
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2009.03.17 TRO - NEVER LOSE AGAIN!!

Postby TheRumpledOne » Tue Mar 17, 2009 9:55 pm

2009.03.17 TRO - NEVER LOSE AGAIN!!

Image

Over the weekend, I made a "discovery" that showed me scalping on the M1 and M5 charts was "suicide".

Here's a simple method that if you apply it properly ( and don't load up the charts with SQUIGGLY'S ), will enable you to NEVER LOSE AGAIN!

1) Only trade if there is a 1, 2 or 3 semafor on the current or previous H1 candle. NO EXCEPTIONS.

2) After you see the semafor on the H1 chart, look at the M15 chart for the long(light blue) and short(pink) triggers based on TRO DYNAMIC FIBS SR TRAIL indicator.

3) When price touches the trigger you enter. DON'T THINK, JUST ACT!

4) Only ONE TRADE PER M15 CANDLE. If price goes against you, just wait.

5) If price went against you and makes a new dynamic sup/res level, get ready to enter at the trigger. If you can't see how this work, then DO NOT TRADE IT. I have entered up to 3 times.

6) What's the STOP LOSS? The stop loss is your maximum allowed loss per trade based on your money management.

7) What's the TAKE PROFIT? You take what you can. I usually take 5+ pips and leave more on the table.

Try this method using a micro lot or 0.1 mini lot. Trade it this way until you feel comfortable and are profitable on a consistent basis. Just trade it, AS IS, and don't add anything to it to improve it. You'll be amazed at how profitable a simple method can be.

The FREE MT4 version of TRO_DYNAMIC_FIBS_SR_Trail and 3_Level_ZZ_Semafor_TRO_MODIFIED_VERSION, including SOURCE CODE and chart templates, attached.

Links to BabyPips NLA thread:

http://tinyurl.com/4jz2k36

http://tinyurl.com/4v2v3hg
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Last edited by TheRumpledOne on Thu Feb 03, 2011 5:43 pm, edited 5 times in total.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby marcromero » Wed Mar 18, 2009 2:49 am

What do you mean you entered up to three times

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Postby TheRumpledOne » Wed Mar 18, 2009 3:30 am

Price moved against me, so I entered a second time.

Price moved against me again, so I entered a third time.

Price moved my way and I exited with a profit.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby marcromero » Wed Mar 18, 2009 3:58 am

TheRumpledOne wrote:Price moved against me, so I entered a second time.

Price moved against me again, so I entered a third time.

Price moved my way and I exited with a profit.


does that mean you had 3 open positions( kinds like a grid trade) or did you close the first 2?

If yo left the positions open, did you increase your lot size or did yo uleave it the same as the first 2?

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Postby pierre23 » Wed Mar 18, 2009 4:26 am

3 open positions at a time. If you had closed the first two before you entered the 3rd position you would be in loss..

1st 15min candle - enter @ trigger -- price closes against
2nd 15min candle - enter @ trigger -- price closes against
3rd 15min candle - enter @ trigger -- price heads toward direction of profit

"7) What's the TAKE PROFIT? You take what you can. I usually take 5+ pips and leave more on the table."

I'm guessing as soon as you see a total profit of 5+ pips you close all positions. (eg. trade 1 is -10pips, but trade 2 is +4 and trade 3 is +11 which is a total of 5+ pips so you close all positions)

Obviously do what tro said, use smaller lot sizes, as you never know how many positions you're going to get yourself in.... but I suppose you have more of a chance to NOT get yourself in so many positions if you enter ONLY when you see a 1/2/3 semafor.

Tro, I take it the purple and light blue dots are the trigger lines??

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Postby TheRumpledOne » Wed Mar 18, 2009 6:27 am

does that mean you had 3 open positions( kinds like a grid trade) or did you close the first 2?

I had entered 3 trades on the same pair. I use MBT so I don't have 3 separate trades to manage. I just have 3 units in play.


If yo left the positions open, did you increase your lot size or did yo uleave it the same as the first 2?


No. Each entry was 1 unit.

When I exited, I closed all 3 units at the same time.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Wed Mar 18, 2009 6:28 am

Tro, I take it the purple and light blue dots are the trigger lines??

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



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Postby marcromero » Wed Mar 18, 2009 11:44 am

Thanks Tro this seems pretty simple.

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TRO's rules to stick on the wall

Postby PTG » Wed Mar 18, 2009 7:12 pm

Consider printing this and sticking it it on the wall :wink:
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Re: 2009.03.17 TRO - NEVER LOSE AGAIN!!

Postby noone22 » Thu Mar 19, 2009 7:14 am

Hi, TRO
Thank you for sharing such a great strategy.

Could you give more details about this discovery, please:

TheRumpledOne wrote:Over the weekend, I made a "discovery" that showed me scalping on the M1 and M5 charts was "suicide"


Why not on M5 charts and why it is suicide?
It's more or less clear, why not to scalp on M1, but
M5 was extensively used previously.

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