2009.06.17 DRAIN THE BANKS REV 8

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
Patch
rank: 500+ posts
rank: 500+ posts
Posts: 941
Joined: Sat Jan 06, 2007 6:13 pm
Reputation: 0
Location: Virginia
Real name: Jeff
Gender: Male
Contact:

Postby Patch » Thu Jul 09, 2009 5:20 am

jacal1

I want you to know that I've been sick and tired of the 9-5 rat race since my first day on the job, working for some one else. Please fill me in on line or via PM.

I see trading as my family's way out of this mess the US and world economy is in the midst of. jb
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
lukx
rank: 500+ posts
rank: 500+ posts
Posts: 789
Joined: Wed Feb 04, 2009 5:10 pm
Reputation: 2
Gender: Male
Contact:

Postby lukx » Thu Jul 09, 2009 5:24 am

dragon33 wrote:
lukx wrote:can someone please explain me one thing. it's about money management . Let's say based on TRO risk-reward when aiming for 5 pips like it's in DTB rules I should have SL for 1.5 pips !! it's impossible it will be hit most of the time!


I don't know how to answers but it is quit simple.
1) For every trade you make you decide what is de max you want to lose.
2) You get in on the dyn fibs trail and you put a SL right on top of the sema, don't forget to include your spread. That's a tiny SL and very correct because your rule says to buy or sell at that point when price cross it it is loser. It is that simple.

Those are the difficulties in trading, choosing the right direction is not that hard. But taking profit or loss is the problem for every trader and that's why most people lose at the end!


thanks dragon, but what about breakouts? How to place SL when breaking out?

canada888
rank: <50 posts
rank: <50 posts
Posts: 8
Joined: Tue Jun 30, 2009 7:35 am
Reputation: 0
Gender: None specified

Postby canada888 » Thu Jul 09, 2009 7:43 am

I am in a simiar situation

I have been unemployed for about five months & trading forex for about15 months.

I 've strong desire to become a successful full-time forex trader one day.


After using DTB and some other TRO indicators, I 've become a far more succesful trader.

Not good enough yet, but close & closer to my goal.

User avatar
dragon33
rank: 500+ posts
rank: 500+ posts
Posts: 792
Joined: Thu Sep 18, 2008 2:41 pm
Reputation: 70
Gender: Male

Postby dragon33 » Thu Jul 09, 2009 9:07 am

lukx wrote:
dragon33 wrote:
lukx wrote:can someone please explain me one thing. it's about money management . Let's say based on TRO risk-reward when aiming for 5 pips like it's in DTB rules I should have SL for 1.5 pips !! it's impossible it will be hit most of the time!


I don't know how to answers but it is quit simple.
1) For every trade you make you decide what is de max you want to lose.
2) You get in on the dyn fibs trail and you put a SL right on top of the sema, don't forget to include your spread. That's a tiny SL and very correct because your rule says to buy or sell at that point when price cross it it is loser. It is that simple.

Those are the difficulties in trading, choosing the right direction is not that hard. But taking profit or loss is the problem for every trader and that's why most people lose at the end!


thanks dragon, but what about breakouts? How to place SL when breaking out?


If you want to gain lots of pips after a BO it is not possible to use a tiny SL. Or you can use the highest sema number after retrace but that's scary if you are not used to it because you give a lot back.
After a BO close your position when you see another number and price stopping speed. Get back in on the next number.

or you can use a three bar stop. Count back three bars. Don't count the upbars in downtrend and vice versa.

canada888
rank: <50 posts
rank: <50 posts
Posts: 8
Joined: Tue Jun 30, 2009 7:35 am
Reputation: 0
Gender: None specified

Postby canada888 » Thu Jul 09, 2009 1:26 pm

Just used mini-lots to practise my Drain the Banks Scalping skill.

8/8 wins
(still practising) :P


Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
Patch
rank: 500+ posts
rank: 500+ posts
Posts: 941
Joined: Sat Jan 06, 2007 6:13 pm
Reputation: 0
Location: Virginia
Real name: Jeff
Gender: Male
Contact:

Postby Patch » Thu Jul 09, 2009 1:57 pm

canada888

Welcome to my favorite trading site. And congratulations on your results just posted. If you feel comfortable, add screen shots.

As far as I am concerned the banks in USA all stink, if you feel the same to the north, clean their clocks and more.

Looks like another day of the USD getting pounded again. The US buck is history thanks to our Gov. It all started with Nixon detaching the dollar from gold. Robert Key-O-sock-EE says dollars are just worthless pieces of paper. Growing more worth-less by the hour. I wonder if US will be able to dig out of this hole we are in. When you are in a ditch stop digging. If it turns to a hole, you kept digging-for heaven sakes STOP DIGGING. This applies to our trading as well. jb
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

User avatar
pablo101
rank: 500+ posts
rank: 500+ posts
Posts: 973
Joined: Tue Jun 30, 2009 3:10 pm
Reputation: 43
Real name: Pete
Gender: None specified

Postby pablo101 » Fri Jul 10, 2009 3:03 am

Patch wrote:canada888

Welcome to my favorite trading site. And congratulations on your results just posted. If you feel comfortable, add screen shots.

As far as I am concerned the banks in USA all stink, if you feel the same to the north, clean their clocks and more.

Looks like another day of the USD getting pounded again. The US buck is history thanks to our Gov. It all started with Nixon detaching the dollar from gold. Robert Key-O-sock-EE says dollars are just worthless pieces of paper. Growing more worth-less by the hour. I wonder if US will be able to dig out of this hole we are in. When you are in a ditch stop digging. If it turns to a hole, you kept digging-for heaven sakes STOP DIGGING. This applies to our trading as well. jb


There's been so many times I've been turned down for a loan by banks ... draining their cash away will be a pleasure!

Can someone help me find an indicator by TRO. What I want to see is a consolidated view of all currencies showing if there is a semafor 3LZZ on the 1 hour. Also would be good is consolidated one hour of stopping volume plotted next to the semafor. I'm sure there is an indicator there but I can't find it.

Thank you

User avatar
pablo101
rank: 500+ posts
rank: 500+ posts
Posts: 973
Joined: Tue Jun 30, 2009 3:10 pm
Reputation: 43
Real name: Pete
Gender: None specified

Postby pablo101 » Fri Jul 10, 2009 7:50 am

Hi everyone, on DTB I know what the magenta and aqua lines are the dynamic support and resistance but what is the yellow number?
Attachments
yellow.gif
yellow.gif (4.43 KiB) Viewed 5130 times

mstandifer
rank: <50 posts
rank: <50 posts
Posts: 7
Joined: Mon Apr 06, 2009 12:44 pm
Reputation: 0
Location: Tennessee
Gender: Male

Long Overdue Thanks

Postby mstandifer » Fri Jul 10, 2009 4:43 pm

I don't post...in fact this is my second post. In breaking my silence I feel I need to give some credit. I thought this thread would be appropriate to post this in since its the indicator I cut my teeth on. I began learning forex October of last year and only recently has it finally clicked for me.

A HUGE thanks to TRO and his original post on BabyPips that got me started on the right path with his patented 'Do you SEE IT?' Wow...how frustrating that was...LOL. Everyone knows what I'm talking about there right?

Another HUGE thanks to TRO for all the indicators that helped me to begin seeing IT, especially DTB.

And finally, most of all, a simple thank you for helping me to SEE IT.

Regards,
Marc

canada888
rank: <50 posts
rank: <50 posts
Posts: 8
Joined: Tue Jun 30, 2009 7:35 am
Reputation: 0
Gender: None specified

Postby canada888 » Fri Jul 10, 2009 5:09 pm

Patch,

Thanks for your advise.

I follow peter schiff and marc faber 's interviews closely, so I agree with u that the US government is creating more problems rather than fixing those
--------------------------------------------------


This is my favorite site as well.
TRO really turns me to become a capable trader.
Thank you TRO, u are a great man.
Your "Never Lose Again" posts are really inspiring, I suggest every rookie trader to read through it.

I tried more than >30 indicaotrs b4, & I think DTB indicator is the best.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”