2009.05.23 DRAIN THE BANKS - REV 007

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rowdy
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Postby rowdy » Fri May 29, 2009 5:49 pm

Spikey wrote:
First thing to do is turn "Idiot Mode" on. (This is not an insult, there really is such a setting in the ...Trail indicator). This will make sure you don't trade when the price is possibly breaking out.


You are absolute right. I just recently realized this.

Spikey wrote:
Secondly, put both the 1 hr and 15 min charts on your MT4 screen so you don't have to switch between time frames. Put the DTB template on both.


It is easier to donate to TRO and get TRO2009_Dashboard_3LZZ. This
indi alone is worth donating for. But of course, you will get much more.

Spikey wrote:
Third, assuming you're demo-ing with MT4 account, when there is s semaphore on the current or previous 1Hr candle and the price is hovering near the 15 min semaphore price, open a New Trade window and input the settings for a pending buy or sell STOP order (whichever is appropriate) using the trigger pice as the entry price. You should be able to enter the pending trade if the current price is at least 4 pips away from the desired trigger/entry price. With practice you will get better manipulating the New Trade window to adjust the entry price based on the changing data on the DTB screen to catch the correct entry/trigger price.


It took a while for it to sink in, but you are better off using limit orders.
When you do, you force the price to retrace back to you before you enter.
This decreases your risk. If you miss a trade because the price just keeps going, dont worry about it. You will get millions of other trading opportunities.

Spikey wrote:If you get the Do Not Reverse warning (idiot mode) you should delete your pending order and open the New Trade window again and get ready for the next 15 min candle, or trade the current candle when it hits the trigger but you should wait until you get more experienced for that.


Not sure what the Do Not Reverse warning is. Unless you are referring to the new BREAK indi added for this Rev.
All I need is Supply and Demand

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Humble
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Postby Humble » Sat May 30, 2009 12:50 am

Congratulations Bushfella.

Although it may seem not to be very helpful at first, the answer to many questions is to just watch how it works. See how the market zig zags all day (be it mostly up or mostly down) and how DTB gets you in the trade. See how sometimes the prices moves without you and sometimes it comes back and gets you (Don't chase it).

As TRO always says, it's not what you trade it's how you trade it. But you can really only trade what you see. Of course it's nice when people give a few hints as they have on the page.

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TheRumpledOne
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Postby TheRumpledOne » Sat May 30, 2009 3:07 am

Which pair?

During London and NY sessions GBPUSD, EURUSD or USDJPY.

During Asian session USDJPY or EURJPY.
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.

A-GAME
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Postby A-GAME » Mon Jun 01, 2009 8:50 am

I must be an idiot because this is all extremely confusing?? I continually read how simple this system is however i am still unsure exactly when to make trades? Can somebody please post screen shots and instructions when preparing for a trade, exactly what triggers a trade, executing a trade and what the indicators mean? Sorry if it all seems so simple to you guys but i have been reading for two days and still havent got it? Im hanging to start using this system so any help would be much appreciated.

A-GAME
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Postby A-GAME » Mon Jun 01, 2009 8:58 am

And i still dont understand what the idiot mode ''DO NOT REVERSE'' sign is for? Yes yes i know, idiot lol...

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Postby john225 » Mon Jun 01, 2009 10:28 am

Better would be a video :)

A-GAME
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Postby A-GAME » Mon Jun 01, 2009 10:30 am

I agree that would be very helpful. Since adding the sound alerts i am up 20 pips from 3 trades so im definitely keen to learn more about this system. Its incredibly refreshing to get rid of the squiggly lines from my charts also lol.

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TheRumpledOne
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Postby TheRumpledOne » Mon Jun 01, 2009 11:24 am

Read the ANATOMY OF DRAINING THE BANK thread.
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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Postby A-GAME » Mon Jun 01, 2009 11:27 am

Thank you RumpledOne will do immediately...

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Postby A-GAME » Mon Jun 01, 2009 12:09 pm

Wow. I must have read that info 20 times and didnt get it. In fact that is the information that lead me here in the first place. I just read that thread and had a lightbulb moment lol. I understand now. Thanks.

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