You know, thinking about it some more, this data is probably better suited for determining where to put one's stop loss and not trailing stop. Even with a TS of 6.5, price could shoot up by 6.5 and drop by the same amount and you'd come out with 0 pips profit.
TROs suggestion of setting a 10 pip stop on rat reversal trades would have me believe on average, I can survive 12 bars on a 5m TF on average for the GBPUSD to play the trade as best I can.
I think the better approach for determining optimal TS is to look at the average range of the 5m candles. If I know the average range is 8 pips, perhaps by setting a TS of 9 pips, I can out survive the average...
So in hindsight, I think just looking at the Average True Range for some period might be the better guide as to what the optimal TS would be...
2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED
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- maddman
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Tro, I don't want to sound dumb, I have looked at your indicators since 2009, however after seeing your videos on "Drain the Banks", "Trade Like a Rat" etc. in trading your style that you've developed, discovered, or re-discovered. The method that you've described all along, and from the beginning is starting to make more sense to me then ever before. The KISS (Keep it simple stupid) idea that you've put on this method into the lowest common denominator is beginning to show its little head. It's amazing that such a simple idea could be lost in translation. At least I am man enough to admit it, while others may not. Tro, please continue with the trading videos, they are not done for nothing, trust me. Currently, I am doing due diligence by testing your methods that show promise and an EDGE that could make a difference in my account.
Best Regards,
Maddman
Best Regards,
Maddman
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RE:I NEED THIS INDICATOR
[color=#] [/color][font=Arial] [/font].Please can someone help me with the 3 level semafor indicator attached below together with the cycle identifier.Thanks for your esteemed generousity.
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I would like to ask about: "5) STOP LOSS IS 10 PIPS"
How we should apply this to brokers which provide 5 digit price for currencies, for example EUR/USD price is 1.30695, once we enter we should put stop loss 10 pips frm entering price, but in this example 10pips is one normal pip. Should we put stop loss at 1.30685 or 1.30595?
How we should apply this to brokers which provide 5 digit price for currencies, for example EUR/USD price is 1.30695, once we enter we should put stop loss 10 pips frm entering price, but in this example 10pips is one normal pip. Should we put stop loss at 1.30685 or 1.30595?
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forexinvest wrote:TheRumpledOne wrote:
1) Price within 20 pips of the daily low (ClLo < 20): This is OPPORTUNITY
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PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
How can I get this indicator?
thanks
mate, if you already it, please share the info. I also need this. It doesnt show up in my graph.
- TheRumpledOne
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