2009.06.17 DRAIN THE BANKS REV 8

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TheRumpledOne
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Postby TheRumpledOne » Thu Jun 18, 2009 3:46 pm

JSMwrks:

The only thing that matters is whether or not YOU can use this to make a profit whether you follow the "rules" or not.

Some people turn off the legend and the gauges while others look at everything.

Of course, it makes sense to understand what everything on the chart means. Whether or not you use it in your trading is up to you.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby 626mx » Thu Jun 18, 2009 5:44 pm

Thanks TRO. The volume indicator is new to me. What is its purpose? Ive been using rev 6 just fine. Thanks

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Postby TheRumpledOne » Thu Jun 18, 2009 11:55 pm

Read the VOLUME SPREAD ANALYSIS posts.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby inzider » Mon Jun 22, 2009 1:59 am

Awsome job TRO, honnestly i'm impresse about your generosity!

Take care!
WB: "Risk comes from not knowing what you're doing."

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Postby Shinobi-X » Mon Jun 22, 2009 10:29 am

I got questions from some members here about how to make DTB a 100% fool-proof tool. First off, I shouldn't be the one to explain this and I'm pretty sure the coder of this indicator (the great TRO-I really respect the guy) has been tirelessly explaining the what&how part of DTB. Second, TRO also mentioned about indicator being what it is...indicator (something which indicates that something is happening or about to happen).

Now the equation of hit rate is...

tools + knowledge + trader = hit rate

but the greater part of trading lies in the third component of that equation-trader.

I'm not going philosophical about it or trying to teach here (I really suck at trying to convince someone). The Art of War told us that to succeed we must:

First, understand ourself
Second, understand our enemy

I long understood that I hate losses and I am patient when it relates to trading. I really want to make sure that I will make money every time i close my trade and that's why I have to endure the waiting time for this to work. I rely on trading as my main source of income, I must make money, period. I can't trade the way TRO trade and I can't use DTB like TRO used it, but like TRO said in the end the tool TRO coded made money for him and for me. TRO gauge the breakout, I am not yet comfortable with breakout so I don't trade breakout. Instead, I trade with confident the edge of the cliff, the reversal. TRO also trade reversal. I have yet to achieve the level TRO is and I'm treading slowly toward that path.

For a reversal... 3rd sema is on a shaky ground when it first appear, this is a known fact. Accept this fact and you will become more patient. However, when conditions are met it'll ka-ching you many pips. I am currently missing quite a handful of good opportunities in just one day, let alone a week. Trading a reversal on 3rd sema means trading around 3-10 times per week. I sometimes missed 20-40 pips of the initial entry point (the waiting cost for reversal confirmation). Isn't it good to look back on your chart and see 3rd sema on the top and bottom? That is what you should be looking for-the no more moving 3rd sema. This is the basis of my trading method. Simple and nothing fancy.

Question #1 What about you?

The enemy part is your choice of pair. Know them chart-wise so you'll be comfortable with its movement during this or that condition. Have a load of quality of screen time together with your pair, take notes. This way you'll see how the pair react using your choice of indicator in real-time. Real-time is the keyword here. Normally, a range trade in E/J gives you 50-200 pips, a trend in E/J gives you around 200-800 pips.

Question #2 Are you comfortable with the pair's movement?

What I currently see...
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Postby aussiefx » Tue Jun 23, 2009 11:59 am

I'm really interested in hearing how people (especially TRO) trade this in real time. My biggest problem is that I can't sit in front of the PC all night. That being the case, which indicator/s should I turn alerting on? Or, as you'll see below, is that not practical - do I have to sit at the terminal waiting?

Also, I just want to get something clear in my head, from an earlier post from TRO and something that I guess I didn't really understand from v7. We look for a signal on H1 chart (a 1, 2 or 3 semafor - is any one better than another?). We then flick to the 15min chart and look for a signal there and trade that. Only reason I ask is that I've noticed, perhaps wrongly, that the two seem to occur at pretty much the same time i.e. the conditions in the 15min chart seem to be trigger for the signal in the H1 chart. It could just be that I've only started with this and it's the signals I've seen so far. Any advice would be MOST GRATEFULLY accepted. I do have to say one thing though. The few signals I've been fortunate enough to witness in real time have certainly nailed it. Great work and good karma to you TRO for sharing so much.

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Postby TheRumpledOne » Tue Jun 23, 2009 7:35 pm

I have a FREE www.paltalk.com chatroom called the two percent club. We can chat there. If you have trouble finding it, just pm me from PalTalk, therumpledone, and I will invite you in.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby dragon33 » Tue Jun 23, 2009 10:49 pm

Shinobi-X wrote:I got questions from some members here about how to make DTB a 100% fool-proof tool. First off, I shouldn't be the one to explain this and I'm pretty sure the coder of this indicator (the great TRO-I really respect the guy) has been tirelessly explaining the what&how part of DTB. Second, TRO also mentioned about indicator being what it is...indicator (something which indicates that something is happening or about to happen).

Now the equation of hit rate is...

tools + knowledge + trader = hit rate

but the greater part of trading lies in the third component of that equation-trader.

I'm not going philosophical about it or trying to teach here (I really suck at trying to convince someone). The Art of War told us that to succeed we must:

First, understand ourself
Second, understand our enemy

I long understood that I hate losses and I am patient when it relates to trading. I really want to make sure that I will make money every time i close my trade and that's why I have to endure the waiting time for this to work. I rely on trading as my main source of income, I must make money, period. I can't trade the way TRO trade and I can't use DTB like TRO used it, but like TRO said in the end the tool TRO coded made money for him and for me. TRO gauge the breakout, I am not yet comfortable with breakout so I don't trade breakout. Instead, I trade with confident the edge of the cliff, the reversal. TRO also trade reversal. I have yet to achieve the level TRO is and I'm treading slowly toward that path.

For a reversal... 3rd sema is on a shaky ground when it first appear, this is a known fact. Accept this fact and you will become more patient. However, when conditions are met it'll ka-ching you many pips. I am currently missing quite a handful of good opportunities in just one day, let alone a week. Trading a reversal on 3rd sema means trading around 3-10 times per week. I sometimes missed 20-40 pips of the initial entry point (the waiting cost for reversal confirmation). Isn't it good to look back on your chart and see 3rd sema on the top and bottom? That is what you should be looking for-the no more moving 3rd sema. This is the basis of my trading method. Simple and nothing fancy.

Question #1 What about you?

The enemy part is your choice of pair. Know them chart-wise so you'll be comfortable with its movement during this or that condition. Have a load of quality of screen time together with your pair, take notes. This way you'll see how the pair react using your choice of indicator in real-time. Real-time is the keyword here. Normally, a range trade in E/J gives you 50-200 pips, a trend in E/J gives you around 200-800 pips.

Question #2 Are you comfortable with the pair's movement?

What I currently see...


Hey X,

Nice to see you making pips. When i asked some help from TRO he teached me by pointing me in some direction. I was just using the dyn fibs indi and the H1 candle color. The main thing is i was able to catch some pips consistently. After a while i was tired of sitting at my computer whole day long to make as many pips as i could.
I started to search after a system that gives more then a few pips.
Well the semafor in combination with the dyn fibs can do that for you.
I am able to catch the reversals. The only thing i have learned to be patience. I wait for the candle that close with a three on it. Then i wait another hour to see if the three is on the right place. The candle next to the three is very important to me. I use the open, close or high(low) to make my entry decision and try to ride from three to two or three. (number 1, i don't care) 3-3 combination is almost every time +100 pips while the 2-2 gives 50 to 80.
So for all the people that really want to know if it works. Yes it is but the most important is you. If you can't pull the trigger then you can't making some pips. If you are overleveraged then you are scared to lose (most common mistake) Stops are not important. Choose your entry right and you can trade +100 pips with a SL from about 20pips.

Again a big thank you for TRO.

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Postby monolisa » Wed Jun 24, 2009 12:16 am

Spot on, dragon33. Thanks.

Nice to hear from you again.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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Postby Shinobi-X » Wed Jun 24, 2009 12:33 am

dragon33 wrote:Hey X,

Nice to see you making pips...
I was just using the dyn fibs indi and the H1 candle color. The main thing is i was able to catch some pips consistently. After a while i was tired of sitting at my computer whole day long to make as many pips as i could.
I started to search after a system that gives more then a few pips.
Well the semafor in combination with the dyn fibs can do that for you.
I am able to catch the reversals. The only thing i have learned to be patience. I wait for the candle that close with a three on it. Then i wait another hour to see if the three is on the right place. The candle next to the three is very important to me. I use the open, close or high(low) to make my entry decision and try to ride from three to two or three. (number 1, i don't care) 3-3 combination is almost every time +100 pips while the 2-2 gives 50 to 80.
So for all the people that really want to know if it works. Yes it is but the most important is you. If you can't pull the trigger then you can't making some pips. If you are overleveraged then you are scared to lose (most common mistake) Stops are not important. Choose your entry right and you can trade +100 pips with a SL from about 20pips.

Again a big thank you for TRO.


Thanks dragon33. Looks like we used exactly the same stuff TRO made. I am still trying to make myself comfortable with trading 2 sema and 1 sema. Here's for greater pips... cheers!

Arnold.
The gap between reality and dream is called action.

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