ANATOMY OF DRAINING THE BANK

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prochargedmopar
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Postby prochargedmopar » Wed Apr 15, 2009 2:30 pm

And here's +13.8
EDIT: that was from 02, actually got in early again.....I let it cross the line and then pull back a couple on both trades........
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#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby ahdrewforex » Thu Apr 16, 2009 6:06 am

Hi Avery, thanks for the example. however, in your this example, the signal said "Wait", so do we still trade in this case like you have done?


:)

TheRumpledOne wrote:Image

Just DRAINED THE BANKS for 5 pips - live trade in the TWO PERCENT CLUB.

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TheRumpledOne
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Postby TheRumpledOne » Thu Apr 16, 2009 12:39 pm

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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby TheRumpledOne » Thu Apr 16, 2009 2:02 pm

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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby blud72 » Thu Apr 16, 2009 5:08 pm

Great system Avery!!!

I thought I would just spend a couple days trading various currencies in this fashion and I have been pleasantly surprised. In fact, I am not going back at all to other systems cuz this is just way too much fun. I changed the trade setting in my FXCM Trading Station to one click ordering with preset stop and limit of 10 pips to bracket the trade. When it hits the trigger, I don't think, just act...10 pips later...ka-ching!!

I am putting up my latest trade this morning.

Again...thanks for showing us this.

Trigger Time



1.1484 was the trigger up above. Just clicked a button to sell then...

Drain Into MY Bank


Easily dropped down to hit target 1.1474...Rinse and Repeat.

Now I should go post these trades in other forums... BigGrin_Smile
Last edited by blud72 on Thu Apr 16, 2009 5:38 pm, edited 1 time in total.

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winny
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Postby winny » Thu Apr 16, 2009 5:31 pm

blud72 wrote:
Now I should go post these trades in other forums... BigGrin_Smile



As I said before, I personally am not sure if it is a wise move to spread the word. I know TRO, and most others do have an other opinion. And yet I know that private traders can not influence the FX market. Still this system depends on working with the MT platform, and brokers might be able to ruin your fun in the end. So I would be carefull.

Its a great sytem, very unique, and if your a good trader with the right attitude then this thing will accelerate your trading profits even more.

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TheRumpledOne
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Postby TheRumpledOne » Thu Apr 16, 2009 6:24 pm

BREAKOUTS AND HOW TO (NOT) TRADE THEM

Image

When the TRO_DYNAMIC_FIBS_SR_Trail displays the "BREAKOUT" message, you have 2 options:

1) Trade the breakout - should be obvious to the reader... just enter the trade in the direction of the breakout.

2) Wait for the reversal - this one is tricky. If you are a NEWBIE, use a 10 pip trigger instead of 5 and let the M15 breakout bar close. If you are not a NEWBIE, switch to M5 and wait for the bar to close. What you are waiting for is for price to stop and reverse direction - a candle of the OPPOSITE COLOR!!

3) What you do NOT want to do is enter a reverse trade on the bar that is breaking out unless you want the banks to drain you.

TRO_DYNAMIC_FIBS_SR_Trail in TRAINING WHEELS mode will NOT signal the "OK TO TRADE" message on a breakout bar.

See the "3" on the bottom in the chart above - my waiting for a white candle and entering at 130.38 was a "draining" experience for the banks.

NOW GET OUT THERE AND START DRAINING!!
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.

datugman
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Postby datugman » Thu Apr 16, 2009 6:50 pm

TheRumpledOne wrote:BREAKOUTS AND HOW TO (NOT) TRADE THEM

Image

When the TRO_DYNAMIC_FIBS_SR_Trail displays the "BREAKOUT" message, you have 2 options:

1) Trade the breakout - should be obvious to the reader... just enter the trade in the direction of the breakout.

2) Wait for the reversal - this one is tricky. If you are a NEWBIE, use a 10 pip trigger instead of 5 and let the M15 breakout bar close. If you are not a NEWBIE, switch to M5 and wait for the bar to close. What you are waiting for is for price to stop and reverse direction - a candle of the OPPOSITE COLOR!!

3) What you do NOT want to do is enter a reverse trade on the bar that is breaking out unless you want the banks to drain you.

TRO_DYNAMIC_FIBS_SR_Trail in TRAINING WHEELS mode will NOT signal the "OK TO TRADE" message on a breakout bar.

See the "3" on the bottom in the chart above - my waiting for a white candle and entering at 130.38 was a "draining" experience for the banks.

NOW GET OUT THERE AND START DRAINING!!


great post, TRO. i've been practicing trading reversals the past couple of days and almost all of my losing trades have come from trading during breakout bars, so this helps a lot.

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Postby Humble » Fri Apr 17, 2009 12:57 am

winny wrote: Still this system depends on working with the MT platform, and brokers might be able to ruin your fun in the end. So I would be carefull.


If you are paying upwards of 40% of your profits in brokerage I don't think they would be too worried.

winny
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Postby winny » Fri Apr 17, 2009 2:02 pm

Humble wrote:
winny wrote: Still this system depends on working with the MT platform, and brokers might be able to ruin your fun in the end. So I would be carefull.


If you are paying upwards of 40% of your profits in brokerage I don't think they would be too worried.


Paying 40% of my profits to the broker would be insane.
Perhaps you would like to pay that, Not me.

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