2009.04.15 DRAIN THE BANKS - REV 006

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outloud20
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Postby outloud20 » Fri May 15, 2009 10:26 am

TheRumpledOne wrote:There is only ONE TRADE message on the gauge on the right of the chart below the bias message.

It tells you what to do and/or what is happening.

The legend at the top left of the chart is there because some traders don't like the price boxes and turn them off via inputs.



ok, but which trade? sell or buy? sorry i dont get it much

pls take a look at the chart

multi meter all green (check if the h1 is green or red)
says arrow up h1 bias long (do not go against the bias)

then arrow down go short

now what trade to enter? buy or sell.. if i get it right.. i should have bought on 1.1742
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lisyah
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How?

Postby lisyah » Fri May 15, 2009 11:10 am

Few questions:

1. I'm using FxPro I noticed that the trigger line is not the same as a 4 digit brokers. Do I need to change anything?

2. What's a DFSR?

3. What's the training wheel purpose?

Many thanks.

jdx
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Postby jdx » Fri May 15, 2009 3:01 pm

Hello, I have been following DTB system for several days and found that most signals produce profits rather quickly on GBPUSD and EURJPY. However, many times the audible signal seems to come late making it necessary to watch the M15 chart and enter with visual confirmation.

For instance today at 9:40 EDT (13:40 GMT ) an alert sounded to short GBPUSD at 1.5283. But the market price was 1.5256, 27 pips below the signal price. So, the question in my mind was does the alert mean that when price returns to 1.5283 to sell, or was the alert just late in sounding?

Like the system, glad to be here.

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TheRumpledOne
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Postby TheRumpledOne » Fri May 15, 2009 7:24 pm

I trade with MB Trading Direct Access Brokerage Firm


They are an ECN. THERE IS NO FIXED SPREAD IN FOREX.

You can google and find out what I really think about "FIXED SPREAD BANDITS".

I'll leave it at that so I don't get banned.

How do I avoid the spread?

I explained this to someone yesterday in an IM.

With MBT you pay a commission rather than having a "FIXED SPREAD".

It's "apples and oranges" so don't try to compare. "THE MATRIX HAS YOU" and you need to "FREE YOUR MIND" to understand what I am about to explain.

Let's say the current bid/ask is 1.5010 x 1.5015

The current spread is 5 pips.

You want to SHORT.

You SHORT at 1.5010.

You set a TP at 1.5005.

Bid/Ask becomes 1.5005 x 1.5009 and the current spread is 4 pips.

At MBT, you will get filled if the bid is 1.5005 and someone TAKES your offer.

Bid/Ask is now 1.5004 x 1.5009 and YOU HAVE YOUR PROFIT.

Note: the ASK never reached 1.5005. THIS IS IMPORTANT!

If you entered this order at a FIXED SPREAD BANDIT, whoops I mean broker, your order is STILL OPEN!!

The bid/ask must become 1.5000 x 1.5005 and your order HITS the Ask.

DO YOU GET IT?

If not, then read this over and over and over again until the LIGHT BULB goes off!!

The day I found out about MBT is the day I opened an account there and stopped trading with FIXED SPREAD BROKERS.

The simplest thing to do is to load up a demo account at MBT Group and see it with your own eyes.

When you place your TP Bid offer at 1.5005, your bid is displayed on Level II.

The point is with MBT your offer gets hit.

With FIXED SPREAD BROKERS you have to wait to hit their offer.

Maybe this might help:

First:

1.5010 x 1.5015

and price drops...

1.5009 x 1.5014

1.5008 x 1.5013

1.5007 x 1.5013

1.5006 x 1.5012

1.5006 x 1.5011

1.5005 x 1.5011 You may get hit

1.5005 x 1.5010 You may get hit

1.5004 x 1.5009 YOU COVERED 5 PIP GROSS PROFIT

AND LET'S CONTINUE

1.5003 x 1.5008

1.5002 x 1.5007

1.5001 x 1.5006

1.5000 x 1.5005 YOUR FIXED SPREAD BROKER FILLS YOUR ORDER.

Does that make it clearer??

What about the commission cost?

The commission varies depending on the pair trading.

It is $.50 per 10k minilot on USDJPY. So if I gross 2 pips, I am making money.

From the MBT site:


Commission Rates

Fixed spreads are a way for FCMs to markup or markdown the best bid or offer. FCMs do this to hide their fee into the price of the currency pair instead of

displaying their best quote. Common sense tells you that no one works for free, so when you see an FCM claim they have "no commission", that should be a red

flag. So how are they getting paid? Its simple: they are making money with the built-in markup/markdown in the spread.

Our FCM, MB Trading Futures, has nothing to hide. They offer tighter spreads with no markups/markdowns and openly display a low commission rate.

Commissions are based on total dollar amount traded: $5 per $100,000 traded.
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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Re: How?

Postby TheRumpledOne » Fri May 15, 2009 7:26 pm

lisyah wrote:Few questions:

1. I'm using FxPro I noticed that the trigger line is not the same as a 4 digit brokers. Do I need to change anything?

PLEASE POST A CHART SHOWING THE PROBLEM

2. What's a DFSR?

DYNAMIC FIBS SUPPORT RESISTANCE

3. What's the training wheel purpose?

TO ONLY GIVE TRADE SIGNALS WHEN EVERYTHING IS LINED UP PERFECTLY

Many thanks.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Fri May 15, 2009 7:31 pm

Hello, I have been following DTB system for several days and found that most signals produce profits rather quickly on GBPUSD and EURJPY. However, many times the audible signal seems to come late making it necessary to watch the M15 chart and enter with visual confirmation.

I DON'T USE THE AUDIBLE ALERT. I AM NOT SURE.


For instance today at 9:40 EDT (13:40 GMT ) an alert sounded to short GBPUSD at 1.5283. But the market price was 1.5256, 27 pips below the signal price. So, the question in my mind was does the alert mean that when price returns to 1.5283 to sell, or was the alert just late in sounding?

NOT SURE. I WILL HAVE TO CHECK.

Like the system, glad to be here.

GLAD TO HAVE YOU.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Example of previous problem

Postby lisyah » Sat May 16, 2009 11:10 pm

Here are two charts of same currency from two different brokers. Chart one (ForexMeta) had a nice 10 pips trigger, chart two (FxPro) however got 4.9 pips trigger. Is this acceptable?


[align=center]Chart 1[/align]



Chart 2[font=Arial] [/font][font=Comic Sans MS] [/font]

Many Thanks. And thank you for the previous reply. :)

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Postby TheRumpledOne » Sun May 17, 2009 1:16 am

The trigger amount is an INPUT.

You can change it.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Shinobi-X
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the method is very simplistic in nature but VERY EFFECTIVE!

Postby Shinobi-X » Mon May 18, 2009 3:05 am

Hi, just come by to report after using this pirate method :D
My conclusion is it really work as campaigned here. Maybe I used it slightly different than what it originally intended but it covers the basic of DTB method IMHO. Here's how it went (and the findings thereof):

1. I noticed that the 3 level ZZ is very strong (especially the 3rd/yellow icon)
2. I also noticed that ZZ WILL move until it find a strong base (strong level of S/R). I first used this 3 level ZZ on M1 (one minute) TF and see that the (yellow icon) moved to another spot when the current price drove the price lower. But when it reached its zenith level, it became a strong level.
3. I find that this is also (point no.2 above) true in all TF
4. so I wait until it (the yellow icon) rest at a certain spot and then enter a position.
5. I have found out that H1 to be the best TF for me (also the TF TRO uses and recommend-please correct me if I'm wrong)

This method alone have produced me 500+ pips (yes, I have to let the position ride for sometime).

All in all my apology to TRO for not using the DTB for what it was intended to do (I only use the 3 level ZZ and decided not to use the rest of the zipped files) and I also want to THANK TRO for bringing this method to the surface (I followed you for sometime now and have found that your posts on the main page to be eye-openings).

Happy trading to all...

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Postby TheRumpledOne » Mon May 18, 2009 3:36 am

Shinobi-X:

No need to apologize. Each trader much find their own way.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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