2009.06.17 DRAIN THE BANKS REV 8

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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 22, 2009 7:51 pm

What does "do not reverse" mean ? does it mean do not go against the trend ?

It means if a candle breaks out LONG, do not go SHORT.

It means if a candle breaks out SHORT, do not go LONG.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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traco1
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Postby traco1 » Tue Sep 22, 2009 10:22 pm

Hey thanks alot, not having to much sucess with forex, maybe I can turn a new corner or something like that.

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Postby noone22 » Wed Sep 23, 2009 2:31 am

TheRumpledOne wrote:What does "do not reverse" mean ? does it mean do not go against the trend ?

It means if a candle breaks out LONG, do not go SHORT.

It means if a candle breaks out SHORT, do not go LONG.


For how long "do not reverse" warning is valid?

For example, if breakout candle is green and
we happen to have this "do not reverse" message.

OK, we can only go long on this candle, i.e. trade breakout, correct?
We cannot go short on this candle.

But what if it happens to be not a breakout, but a reversal.
Next candle becomes read.

Question: when we can go short (if we want to trade reversal)?
- During the life of next cnadle (once it read)?
- Wait until next candle is closed as red?
- Something else?

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TheRumpledOne
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Postby TheRumpledOne » Wed Sep 23, 2009 5:25 am

You have to wait until breakout candle closes to reverse.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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traco1
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Postby traco1 » Wed Sep 23, 2009 6:22 am

Hello, I have a question about rule # 5 were it says if price goes against you and makes new levels get ready to enter, you mean get ready to enter another trade in the opposite direction ? or same direction? 2 Does this violate or does the new NFA rule affect this ?
thanks in advance.

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traco1
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Postby traco1 » Wed Sep 23, 2009 6:32 am

Also while reading through the thread some folks have mentioned that they wait for the 2nd candle to form before trading after the semafor. Im I correct in assuming that if the 2nd candle never hits the triggers then no trade is to take place ?
and on the 15min chart the triggers were hit but the box is still telling me to wait. could someone please explain.

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Postby jacal1 » Wed Sep 23, 2009 7:30 am

Should not use pending orders for entries TRO warns againts these tho only orders you want to have are SL and TP and even those are questionable.

The market temperament may have changed, try to wait and watch for your entries and look to see if your s/r or fibs are still intact to confirm your trade once you entered, what you may have seen an hour ago as a good entry could be already an exit for the market.

DTB!!
The fear of Jehovah is the beginning of knowledge, wisdom and discipline...Prov 1:7

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Postby gangsta1 » Wed Sep 23, 2009 9:08 am

Is it a good idea to avoid news when using the DTB strategy?

gangsta1
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Postby gangsta1 » Wed Sep 23, 2009 10:16 am

Check the picture: The "Wait" signal kept me out of these 2 trades worth 5+ pips each. THe h1 bias was in agreement with the direction at the time. Am I missing something?


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Postby zulemara » Wed Sep 23, 2009 7:30 pm

85 pips last night overnight

55 pips between 2:15 and 2:45pm today.

What can I say?? I drain the banks! Sssshhh don't tell!

I am trying new things, trying to get this down to as much of an exact system as I can. I have my own strategy and it seems to be working.

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