Learning the Rumpled One's Methods

[AdamW]

To All,

I have been a mildly profitable part-time trader for the last several years.

I cam across one of TRO's videos on YouTube and was impressed by the simplicity as well as his easy-going teaching style.

I have since downloaded the Motherload of indicators, watched about a dozen more videos, and read several posts here.

I am still not clear on many of the methods, and I am looking for someone who is using them to teach me, for a very good pay rate.

In the meantime, I have decided to create a new thread where I will go over what I know about each method, and I hope to get some good critiques and corrections.

My goal is one post per day.

Don't worry, you cannot offend me, I don't offend easily!

More to come!!

[TheRumpledOne]

Pick one method and stick with it. You learn how to hit a baseball by swinging the bat. You learn how to trade by trading. Don't be in a hurry. You can learn how to move the chess pieces in an hour or so. It will take you a lifetime to master the game.

[AdamW]

Pick one method and stick with it. You learn how to hit a baseball by swinging the bat. You learn how to trade by trading. Don't be in a hurry. You can learn how to move the chess pieces in an hour or so. It will take you a lifetime to master the game.

I am most interested in what I believe is called the "Daily Wick Trade". This is where you have the daily and weekly opens on the chart only, as horizontal lines, and trade based on those lines.

If I have missed this in a thread I apologize, there is a lot to go through, but I haven't been able to find a template for the screen you are using, or any list of rules.

Thanks for the advice and support.

[TheRumpledOne]

Here's the link to the WICK ZONE thread:

therumpledone/daily-wick-zone-trading-t8643

[AdamW]

Here's the link to the WICK ZONE thread:

therumpledone/daily-wick-zone-trading-t8643

TRO,

Thanks, I am through about ten pages of this thread.

What I don't understand yet is how you EXIT the trades? Depending on where you exit many of these trades would not be profitable.

You mentioned the exit playbook, but I cannot find that.

Thanks.

[MightyOne]

Here's the link to the WICK ZONE thread:

therumpledone/daily-wick-zone-trading-t8643

TRO,

Thanks, I am through about ten pages of this thread.

What I don't understand yet is how you EXIT the trades? Depending on where you exit many of these trades would not be profitable.

You mentioned the exit playbook, but I cannot find that.

Thanks.

[AdamW]

TRO and the MightyOne,

You guys have been awesome to give all this support already.

Getting deeper into the thread, I realize I was originally talking about what is called the "Buy Zone" trade, rather than the "Wick Zone".

Can you tell me briefly how these differ?

I would rather learn one method at a time, but as I have read about both, I want to make sure that I understand the difference.

Thanks.

[AdamW]

Here's the link to the WICK ZONE thread:

therumpledone/daily-wick-zone-trading-t8643

TRO,

Thanks, I am through about ten pages of this thread.

What I don't understand yet is how you EXIT the trades? Depending on where you exit many of these trades would not be profitable.

You mentioned the exit playbook, but I cannot find that.

Thanks.

Thanks for the video. The playbook sets a 10 pip stop loss, but what if the zone indicates a stop loss higher than that, e.g., 20 pips? Which do you use?

[MightyOne]

TRO and the MightyOne,

You guys have been awesome to give all this support already.

Getting deeper into the thread, I realize I was originally talking about what is called the "Buy Zone" trade, rather than the "Wick Zone".

Can you tell me briefly how these differ?

I would rather learn one method at a time, but as I have read about both, I want to make sure that I understand the difference.

Thanks.

WZ_BZ.png (11.58 KiB) Viewed 7705 times

[AdamW]

TRO and the MightyOne,

You guys have been awesome to give all this support already.

Getting deeper into the thread, I realize I was originally talking about what is called the "Buy Zone" trade, rather than the "Wick Zone".

Can you tell me briefly how these differ?

I would rather learn one method at a time, but as I have read about both, I want to make sure that I understand the difference.

Thanks.

WZ_BZ.png

Thank you!