2009.05.23 DRAIN THE BANKS - REV 007

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TheRumpledOne
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Postby TheRumpledOne » Fri May 29, 2009 12:43 am

Perhaps you missed the instructions:


1) Make sure MetaTrader is closed.

2) Download and unzip the indicators to

C:\Program Files\your metatrader folder name\experts\indicators

2a) Download and unzip the templates to

C:\Program Files\your metatrader folder name\templates


3) Run MetaTrader

4) Click on VIEW

5) Click on Navigator

6) Drag an drop the indicator you want onto the chart


Go to www.mql4.com and http://www.forexfactory.com/showthread.php?t=67529 to learn more
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Bushfella
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Postby Bushfella » Fri May 29, 2009 8:43 am

Thanks Humble. Are you trading successfully with dtb? I just found Tro's stuff a few days ago and am a little confused. Would answer me a few q's ?

Do we trade retracement or breakout on the triggers or do we do either depending on whether the tex says "resistance breakout" or "weak lwp or something else? sounds basic I know.

I THINK when the price goes up and hits the top pink we go short and when it goes down and hits the bottom blue we go long but then sometimes a tex appears saying "support(or resistance) breakout. Like I said, short of brain cells!! very appreciative.
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Postby cashdaily » Fri May 29, 2009 9:47 am

Hi Bushfella,

If you want to short, you need to wait till price touch "Resistance" and go back to "pink" price then you go short. If the price go further than that. You should wait till it settle down. Or wait till the next M15 candle, then you go short.

Let say you in short position and price go further than that(Resistance Breakout) wait again till price touch pink level n short again.

Remember that TRO only take 5-7 pips only using DTB. So watch out your TP. If possible double your lot in 2nd post. So if price retrace back within few pips you can close all position in profits.

Can you see how its work?

Remember try in demo first b4 go live.

Just my 2 cent.

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LWP? Entry?

Postby beckford » Fri May 29, 2009 1:31 pm

What does LWP stand for?I can't see it explained anywhere.

Also, how do you get round the problem of price having already passed the entry point when you flip from the 1hr to 15min candle?
Or am I approaching this wrongly?

Thanks, TRO, for an exceptional set of indicators.

Robin

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Postby Bushfella » Fri May 29, 2009 2:03 pm

LWP - long wick pattern

Greetings form a sunny day in yorkshire and there's not too many of those. Now, I've been humbled by this game too often to be cocky but I'm going to allow myself a cautious "wow!". 6 succesful trades on the trot today (first day) using DTB.

Many thanks to you all for help. Tro, cashdaily and Humble (sounds like the oscars). Tro- skint after 2 years losing money trading but I hope to send you a donation before too long.

Keep getting failed orders with metatrader so first thing I do after entering a trade is put in a trailing stop ( I have a 5 digit broker so mt reads 50 as 5 otherwise I couldn't do it, and tp even though it often leaves pips) hope that helps someone else.

Up the pirates!!
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Postby beckford » Fri May 29, 2009 3:18 pm

Bushfella wrote:LWP - long wick pattern

Greetings form a sunny day in yorkshire and there's not too many of those. Now, I've been humbled by this game too often to be cocky but I'm going to allow myself a cautious "wow!". 6 succesful trades on the trot today (first day) using DTB.

Many thanks to you all for help. Tro, cashdaily and Humble (sounds like the oscars). Tro- skint after 2 years losing money trading but I hope to send you a donation before too long.

Keep getting failed orders with metatrader so first thing I do after entering a trade is put in a trailing stop ( I have a 5 digit broker so mt reads 50 as 5 otherwise I couldn't do it, and tp even though it often leaves pips) hope that helps someone else.

Up the pirates!!
Thanks, Bushfella, from sunny Weymouth in Dorset, and congrats on a good day's trades.

I'm still at a loss as to how to enter at the price indicated if that price has already 'gone' and the message is 'wait'. Perhps I'm missing something obvious, in which case please excuse my stupidity.

RB

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Postby Bushfella » Fri May 29, 2009 3:24 pm

Hi Beckford
Once a semaphor has formed on the 1 hr then change to 15 min and wait for the "wait" to disappear. That's the way I interpretate it anyway. Good Luck
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Postby Spikey » Fri May 29, 2009 4:56 pm

beckford wrote:I'm still at a loss as to how to enter at the price indicated if that price has already 'gone' and the message is 'wait'. Perhps I'm missing something obvious, in which case please excuse my stupidity.

RB


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.

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.

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.

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.

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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.
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Postby Heavenstorm » Fri May 29, 2009 9:03 pm

i guess i am really an idiot but i need to ask this question....
turn on idiot mode for H1 or M15 chart?
lol

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