2009.11.05 DRAIN THE BANKS - REV 9

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11440
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Thu Nov 05, 2009 5:50 pm

4) enter long at the red candle's low price

Am I confused or should that be enter short at the red candle's low price?



NO, you are not confused. It was a typo. I fixed it. Thanks.
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.

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

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11440
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Thu Nov 05, 2009 6:25 pm

Image

WHY ARE THERE LINES SPACED 10 PIPS?

Those are so you can SEE how far price has moved off the top or bottom.

You can also use them for HORIZONTAL LINE trades since the prices end in 0.

Price will not stay between any 2 lines on the chart. Price RANGES!! You can use the lines for "break out" trades.

Think about the price action this way... once price crosses a line it will either:

1) continue in same direction and cross another line

or

2) reverse direction and cross back over the line it just crossed.

Those are the ONLY 2 options.

You should be able to SEE this on the chart unless, of course, you're a Yale student.
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.

jonisonvespa
rank: <50 posts
rank: <50 posts
Posts: 32
Joined: Sun Oct 18, 2009 9:44 am
Reputation: 0
Gender: None specified

Postby jonisonvespa » Thu Nov 05, 2009 9:45 pm

hi tro
on the rev9 chart what does it mean when the area is displayed red or green, does this mean price is either short /long bias, also how is is this worked out??
thanks

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11440
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Fri Nov 06, 2009 1:03 am

Those red/green areas are the daily candles.
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.

sk2000sg
rank: <50 posts
rank: <50 posts
Posts: 1
Joined: Fri Nov 06, 2009 9:23 am
Reputation: 0
Gender: Male

Hi

Postby sk2000sg » Fri Nov 06, 2009 9:48 am

HI Dude,

nice work and good effort...

wonther you have come across "Mega Trend Flow Meter" try to seach on the web not available.... it appy the strength of two or more pairs of currency...

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

jonisonvespa
rank: <50 posts
rank: <50 posts
Posts: 32
Joined: Sun Oct 18, 2009 9:44 am
Reputation: 0
Gender: None specified

Postby jonisonvespa » Fri Nov 06, 2009 3:16 pm

hi tro
really really struggling to understand this 20 pips of the daily low,
is it the low of the last session, or the last 24 hours?
why 20 pips of the low?? alot of the time price is no where near the daily low?
thanks for taking the time tro.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11440
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Fri Nov 06, 2009 4:11 pm

Image


1) price within 20 pips of the daily low - that is OPPORTUNITY


Image


2) red candle closes


Image


2) red candle closes


Image


2) red candle closes

Trading is waiting... you must learn to wait for you entry trigger.


Image

3) green candle closes - note the high price of the green candle.

4) enter long at the green candle's high price


Image


4) enter long at the green candle's high price

5) STOP LOSS IS 10 PIPS

6) Take whatever profit you can.



Image

You could have made 10 or more pips for a 2% gain.


"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."
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.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11440
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Fri Nov 06, 2009 4:14 pm

jonisonvespa wrote:hi tro
really really struggling to understand this 20 pips of the daily low,
is it the low of the last session, or the last 24 hours?
why 20 pips of the low?? alot of the time price is no where near the daily low?
thanks for taking the time tro.


Go back and read the second post of this thread. The answers to your questions can be found there.

You are correct, price is no where near the daily low a lot of the time, so you WAIT. You only need 1 or 2 trades a day to hit a reasonable daily goal.
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.

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 645
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 2
Gender: Male
Contact:

Postby PTG » Fri Nov 06, 2009 4:45 pm

Not only does one need to learn and wait, but one also has to be there at the moment supr?me as they say in Russia ](*,)

Another thing to NOT do, is to THINK. Just act.

A signal is a signal is a signal. Act.

My two issues in a nutshell.
This is my new signature: "new signature".

gangsta1
rank: 50+ posts
rank: 50+ posts
Posts: 85
Joined: Wed Apr 01, 2009 12:18 pm
Reputation: 0
Gender: None specified

Postby gangsta1 » Fri Nov 06, 2009 9:24 pm

Thank you Tro for your work. If I can drain the banks enough to afford a t-shirt I will rock one round Paris.

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


Return to “TheRumpledOne”