2009.09.10 DRAIN THE BANKS - LIKE A RAT

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nickohorny
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Postby nickohorny » Fri Sep 16, 2011 4:01 pm

Hi Everyone!

I just have a question regarding mastering one currency as a beginner - I understand what you mean and there is no point swapping currency pairs to learn however what If I pick one currency - say GBP/USD and I am a green rat, each day I log when I can outside of work, and the low had already been established and so price is on the up - I am missing out on practicing execution and taking profit now as it is not coming back down, so now I'm on a currency that is basically not worth me watching today.. am I making sense? suppose all I am asking is how do I make sure I can get my practice to a maximum!

Oh and lastly - I have to work from 8am - 2pm LDN time, so what currency pair would you guys recommend I stick with and master to trade for after 2pm?

Thanks again

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TheRumpledOne
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Postby TheRumpledOne » Fri Sep 16, 2011 8:09 pm

EUR/JPY is actively traded around the clock.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

nickohorny
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Postby nickohorny » Tue Sep 20, 2011 1:22 pm

Hi, I have been searching through the motherlodes - which is the simple indi displaying the current price in a large font on the chart at the top centre?
I can't seem to find it after adding many to test to my chart.

Lastly - what is the name of the indicator showing current candle bar length counting down until next candle? Can't seem to find that either?

Thanks

nickohorny
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Postby nickohorny » Tue Sep 20, 2011 5:50 pm

Hi again, I am just having some problems with the indicators on my chart - if you see the pic you will see what I mean! If you could help answer my questions posted on my pic that'd be FAB! :P


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Captain Pugwash
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Postby Captain Pugwash » Wed Sep 21, 2011 12:02 pm

to alter the placement, go to charts - indicators list - choose the indicator you want to move - edit - inputs - and look to see if there is an x or Y axis field ( or a similarly named field) - just have a play until it looks right.

just eyeballing the chart - the dots simply show the lowest or highest point a swing high or low has made

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Postby TheRumpledOne » Wed Sep 21, 2011 8:22 pm

Those dots are the STOP PRICE.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Wed Sep 21, 2011 8:23 pm

MAGNIFIED MARKET PRICE shows the large price.

B-Clock is the countdown.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby nickohorny » Thu Sep 22, 2011 12:18 pm

Thank you both Pugwash and TRO, much appreciated :)

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Postby nickohorny » Thu Sep 22, 2011 2:10 pm

TRO I just have a trainingwheels question - It will only say WAIT, ONLY TRADE LONG, or ONLY TRADE SHORT based on price being above or below the weekly open right? So what does WAIT mean? what eactly is is WAITING for as it will either be above or below will it not?? Maybe I am not understanding this correctly?

also what is the actual difference between the indi trainingwheels and trainingwheels_DW??

Thank you

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Postby TheRumpledOne » Mon Oct 03, 2011 2:55 pm

Image

"Look, for example, at this elegant little experiment. A rat was put in a T-shaped maze with a few morsels of food placed on either the far right or left side of the enclosure. The placement of the food is randomly determined, but the dice is rigged: over the long run, the food was placed on the left side sixty per cent of the time. How did the rat respond? It quickly realized that the left side was more rewarding. As a result, it always went to the left, which resulted in a sixty percent success rate. The rat didn't strive for perfection. It didn't search for a Unified Theory of the T-shaped maze, or try to decipher the disorder. Instead, it accepted the inherent uncertainty of the reward and learned to settle for the best possible alternative.

The experiment was then repeated with Yale undergraduates. Unlike the rat, their swollen brains stubbornly searched for the elusive pattern that determined the placement of the reward. They made predictions and then tried to learn from their prediction errors. The problem was that there was nothing to predict: the randomness was real. Because the students refused to settle for a 60 percent success rate, they ended up with a 52 percent success rate. Although most of the students were convinced they were making progress towards identifying the underlying algorithm, they were actually being outsmarted by a rat."

P64 HOW WE DECIDE (italics added)

========================= ====================

"Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame (with the obvious limitations explained above)

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist." - H. Rearden

=============================================

1) Price within 20 pips of the daily low (ClLo < 20): This is OPPORTUNITY

============================================

WHY ISN'T EVERYBODY DOING IT?

Most of you know I catch a lot of flak on my forums because SOME PEOPLE don't like the way I post.

One worn out argument that is used repeatedly is, "If this is so (simple, great, profitable, ), then why isn't everybody doing it?"

Simple answer is because SOYLENT GREEN is people!

We all know exercise is great, but how many actually exercise?

We all know smoking is bad, but how many do it anyway?

We all know which foods are bad for our health, but how many eat those foods?

We all know that we should save for our future and spend less than we earn but who does that?

The list is almost endless.

As long as there are people, there will always be some STUPID people and some smart people making STUPID decisions, where STUPID is defined as knowing better but acting otherwise.

Meanwhile, the RATS are still beating the Yale students.

=============================================

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
_
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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