2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TygerKrane
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Postby TygerKrane » Wed Jul 21, 2010 11:15 pm

nkhawaja wrote:I think i need some filters too. I see so many 2 pips win but one loss of 10pips wipes it out. I am not considering H1 candle. Sometimes i try to go with H1 and D1, but the combination is very difficult to catch. Started off with $500, went till $550 but then on a loose streak. and came back to $260.

Initially I wasn't paying attention to Stop loss and because of that fact I had some big losses compared to these small pips gains. Need to reconsider my trading.

2009.05.30 RULE OF THUMB: DO NOT REVERSE ON BREAKOUT CANDLES

:idea: TRO :idea: wrote:The pirates were discussing trading after the market closed. One topic was trading reversals. The general consensus was NOT to enter a reversal on a breakout candle. It's better to let the candle close and then wait to see if price is reversing.

<<<IMAGE>>>

In the first example, you can see price...

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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nkhawaja
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Postby nkhawaja » Thu Jul 22, 2010 2:25 am

Although I agree with you and also need to learn more about the characteristics of this "rule of thumb" BUT
TRO doesn't mention it and also he says if anything is not mentioned it doesn't matter.

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TygerKrane
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Postby TygerKrane » Thu Jul 22, 2010 4:08 am

Looks like to follow the strictest interpretation of the rules then, you have to learn to grab your quick pips. Discipline, a quick eye and quick fingers it seems...

I hope I am being of some help.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

Skygod
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Postby Skygod » Thu Jul 22, 2010 9:22 am

I also had a problem with the quick eye and fingers. If you do a search for

multi purpose trade management ea

google should point you towards a handy little tool which has saved me a few quick pips. It can be set for break even, trailing stops, step up stops and a host of other features I still haven't explored yet.

Hope someone finds this useful.

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TheRumpledOne
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Postby TheRumpledOne » Thu Jul 22, 2010 1:49 pm

Image

1) Price within 20 pips of the daily low - that is OPPORTUNITY
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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trueblueTEX
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Postby trueblueTEX » Thu Jul 22, 2010 1:54 pm

I'll go out on a limb and predict you buy CAD :-)

bgbearnavy
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Keep Getting SLAMMED

Postby bgbearnavy » Thu Jul 22, 2010 2:25 pm

I am tired of this....
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TheRumpledOne
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Postby TheRumpledOne » Thu Jul 22, 2010 2:33 pm

Image

Entry at low + 20 pips ( 1.0392 ), gave an opportunity to make 10 quick pips.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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trueblueTEX
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question for TRO

Postby trueblueTEX » Thu Jul 22, 2010 2:38 pm

TheRumpledOne wrote:Image

Entry at low + 20 pips ( 1.0392 ), gave an opportunity to make 10 quick pips.


Hey TRO!!

Do you mean that you bought on price coming OUT of the "aqua" zone?

Is that a common buying scenario?

Thanks
Tex

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TheRumpledOne
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Postby TheRumpledOne » Thu Jul 22, 2010 3:52 pm

Yes, that is because I saw price going UP!

That is the last chance to get on the bus as it leaves the RAT ZONE STATION.

http://scienceblogs.com/cortex/2008/11/ ... e_more.php
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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