ANATOMY OF DRAINING THE BANK

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

winny
rank: 50+ posts
rank: 50+ posts
Posts: 109
Joined: Mon Jun 02, 2008 10:34 pm
Reputation: 0
Gender: None specified

Postby winny » Fri Apr 17, 2009 2:16 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.


By the way, haven't you ever heard of MT brokers who are trading against you. If I take 20 pips consistantly, and even pay them 40%, I am still 60% ahead.

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

stifland1
rank: <50 posts
rank: <50 posts
Posts: 11
Joined: Sun Mar 29, 2009 11:44 pm
Reputation: 0
Gender: Male

Postby stifland1 » Fri Apr 17, 2009 2:55 pm

Does the 15m have to close and OK signal or can you enter intrabar?

stifland1
rank: <50 posts
rank: <50 posts
Posts: 11
Joined: Sun Mar 29, 2009 11:44 pm
Reputation: 0
Gender: Male

Postby stifland1 » Fri Apr 17, 2009 2:58 pm




Example, this bar was below the 1.3046 Long signal and went thru and Drained the Bank for 5-7 pips. But it was intrabar and had a :wait" warning.
Is this valid to take or must wait on close and correct OK signal?

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11396
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 Apr 17, 2009 6:08 pm

stifland1 wrote:Does the 15m have to close and OK signal or can you enter intrabar?



You can enter intrabar.

If you want to enter a reversal trade, you wait for the breakout bar to close.

DO NOT ENTER REVERSE TRADES ON BREAKOUT BARS... WAIT!
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: 11396
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 Apr 17, 2009 6:10 pm

TEXT BOOK TRADE

Image

Waited for breakout candle to close.

Next candle failed to make a new high and turned black.

Entered at trigger and DRAINED THE BANK!!

NOTE: D1 through M1 all red. Some people have been saying that you are always trading against H1 on reversals. As you can see, that's not always the case.
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.

stifland1
rank: <50 posts
rank: <50 posts
Posts: 11
Joined: Sun Mar 29, 2009 11:44 pm
Reputation: 0
Gender: Male

Postby stifland1 » Fri Apr 17, 2009 6:32 pm

Thanks TRO, think I got it. If no new high or Low being made(breakout) can enter trigger intrabar, which I did above and got some pips! Otherwise wait on close and repeat;)

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11396
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Sat Apr 18, 2009 4:31 am

Drain, drain, drain the banks,
Draining night and day.
Merrily, merrily, merrily, merrily,
Make the bastards pay.
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
razorboy
rank: 500+ posts
rank: 500+ posts
Posts: 627
Joined: Tue Oct 21, 2008 2:06 am
Reputation: 0
Location: Toronto
Gender: None specified
Contact:

Building Positions on Reversals

Postby razorboy » Sat Apr 18, 2009 1:13 pm

Been toying around with this approach when price is moving the way you are expecting it to - would love some input.

First position - when S/L trigger hit - regardless of h1 color - it seems that many reversal trades start before h1 is the right color
Second Position - H1 color flips to correct color
Third position - When a 1 appears on 15 minute chart

Anyone use anything similar

TheRumpledOne wrote:TEXT BOOK TRADE

Image

Waited for breakout candle to close.

Next candle failed to make a new high and turned black.

Entered at trigger and DRAINED THE BANK!!

NOTE: D1 through M1 all red. Some people have been saying that you are always trading against H1 on reversals. As you can see, that's not always the case.

Steveo
rank: <50 posts
rank: <50 posts
Posts: 25
Joined: Sat Sep 20, 2008 12:00 pm
Reputation: 0
Gender: None specified

Candle Strength Meter

Postby Steveo » Sun Apr 19, 2009 2:43 am

My question is using the Candle Strength Meter. The rule says to trade in the direction of the candle strength meter when the trigger is hit. For example, if the trigger is hit (semafor 1, 2, or 3 at the bottom of the current 1 hour candle or previous 1 hour candle) for a long trade the 15 min candle should be green. And red vice versa if going short on the 15 minute candle.

I have noticed when the market is highly volatile that the candle strength meter constantly changes colors red, green.

This seems to be screwing me up. What I mean is that maybe I'm concentrating on the candle meter and not on pulling the trigger on the trade. If I do enter the trade and see the candle meter fluctuate colors it tells me in my opinion that I should be getting out of the current trade.

If someone could explain this candle meter. Also, would it be more advantageous to trade when volatility is not extreme. Maybe we need a volatility meter LOL.

This confuses me when the trade is about to hit the trigger.

Thanks in advance for your explanation.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11396
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Mon Apr 20, 2009 4:35 am

THERE IS NO CANDLE STRENGTH METER.

There is a CANDLE COLOR MULTI METER showing the candle colors on all of the chart time periods.
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.


Return to “TheRumpledOne”