2009.04.15 DRAIN THE BANKS - REV 006

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noone22
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Postby noone22 » Mon Apr 20, 2009 9:36 am

TheGabriel wrote:Yes i placed sell orders at resistance and buy at support after I got the alert from the indicator


I'll re-phrase the question (you don't follow):

If you enter off support - go long,
when you will exit from this trade (go short to cover your long)?

If - at resistance, there is something wrong.
Usually, you have to exit much earlier, 10 pips (or less)
target-profit is OK.

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Postby TheGabriel » Mon Apr 20, 2009 9:40 am

I hope we'll get some further instructions from TRO, we have in some way to filter those trades. Maybe we should not follow the alert, but graphically check support and resitances, those that are made with more dots, not just one dot that triggered will send us an alert.

Here are my situation with my thoughts.
Should we let the candle that breaks the resistance/support, first close?
(In the image where I say sell only here I'm talking in the case there would have been a bearish candle)


Maybe place automatic orders with sell/buy stop between the S/R levels?

It would be good to place more charts with where to enter.
Last edited by TheGabriel on Mon Apr 20, 2009 10:30 am, edited 1 time in total.

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TheRumpledOne
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Postby TheRumpledOne » Mon Apr 20, 2009 12:43 pm

"I hope we'll get some further instructions from TRO, "

My instructions are to use a M15 chart.

You used the M1 chart and got CAUGHT!!

WHEN ARE YOU GOING TO LEARN TO FOLLOW INSTRUCTIONS?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby TheGabriel » Mon Apr 20, 2009 12:46 pm

Check it again TRO, it's an H1 chart. I've NEVER used M1.

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Postby TheRumpledOne » Mon Apr 20, 2009 12:48 pm

"Thanks TheGabriel, me too, i follow the alert but all 3 are in negative about 10 to 15 pips within 5mins. i will learn more Smile I trust TRO's tools though."

IF YOU DO NOT FOLLOW THE INSTRUCTIONS, HOW CAN YOU EXPECT TO WIN?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheGabriel » Mon Apr 20, 2009 1:08 pm

Ok, but I still don't understand what was my mistake. As you can see from the screenshot I followed the rules, I used H1 for numbers (the numbers were moving and repainting though) and M15 for the trigger, plus confirmed by alert.

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Postby PINKPANTHER5 » Mon Apr 20, 2009 2:19 pm

If someone could make a video on "DRAIN THE BANKS", that would now be awesome. I am suffering from the same thing.

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Postby TheGabriel » Mon Apr 20, 2009 2:25 pm

That would be great and no excuses will be allowed anymore.

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Postby noone22 » Mon Apr 20, 2009 11:39 pm

From this thread I could see at least 4 different interpretations
(not including original TRO one),
how people think they suppose to play "Drain the bank system".

It is known phenomena - if you show something to 7 people
and ask them, how to use it - you'll have 7 different opinions.

I'm not trading this system yet, so I cannot judge, what is
correct and what is not (taking TRO rules and templates as
original), but from 4 different opinions only 1 could be correct,
isn't it?

Videos would be good, but who is going to produce them?

For me, 5 screenshoot images of one trade would be enough:
- one before entry
- second - at the time of entry into the trade
- third - in the middle of the trade
- 4th - at exit from the trade
- 5th - after the trade

Again, who is going to produce them?

I know, what will be TRO's answer on the matter,
the only thing I don't know - why he is not showing the full details.
Either for people to find out the solution themselves or
in order not to reveal the full secrets of the system.
This approach is good, if at the end of the day people
have a correct answer/example from the teacher,
which they could compare with their own one & make the conclusion.
Even at the end of every strict
math exercise book there is list of answers.

There are no full answers to DTB system rules and
full list of examples and exeptions, properly listed, shown & explained.


In this thread "ANATOMY OF DRAINING THE BANK"
http://kreslik.com/forums/viewtopic.php?t=1744
TRO has done a very good attempt (overcoming himself -
he had never released such details before), revealing some
usefull examples of DTB system, but still this attempt
is lacking 3 images for each example (giving only 1-2 from 5
required).

As a result, different people will interpret this system differently,
even if they think, that they're following system rules 100% correctly.

frang0nve
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Spreads like an ECN no commissions, due diligence required

Postby frang0nve » Tue Apr 21, 2009 2:29 am

Hi,

I found an alternative to bucketshop (big spreads, stop hunting,...), and ECN's (small spread, commission per trade).

They claim to be a group of autotraders/scalpers tired of the brokering abuse on traders.

They offer spread close to ECN's avoiding the commissions. You select one of their tiers depending on the amount of trades you expect to do in a month and they charge you accordingly. Example:

20 Full Round Turns or 200 Minis per Month: 47$ per month
30 Full Round Turns or 300 Minis per Month: 77$ per month
45 Full Round Turns or 450 Minis per Month: 147$ per month

Some of the tiers are sold out and there is a waiting list.

They offer an unlimited tier for 975 $/month.

There are some points to be noted due to their origin:

They are not regulated (and they don't want to be).
Their main support system is a forum
They offer quite a limited variety of pairs.
Live and Demo accounts can't be used on weekends.

For those interested their name is TheCollectiveFX.

There is an interesting debate in another forum. Google it to find more information.

Cheers

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