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Moersche
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Postby Moersche » Mon Dec 29, 2008 11:15 pm

Learning from a lot of people within the net, I want to share some profitable aspects here. As we learned, price action is the key to success. Stats help to find an edge. Moneymanagment preserves capital.

Here my 2 cents - for newbees a system to test on a demo account for getting whats possible and whats not. Strategy is simple and helps to control the greed.

On the EUR/USD pair:
Set the MA_in color TRO modified version to 9. Use the (h) chart.
When it´s red go short on next candle´s open. When it´s blue go long on the next candle´s open, when yellow stay out the market. SL is set to 35. Trailing stop to 22.

Today there were 5 (-175) looser, 16 (352) winner, 3 outside the market. The numbers above do not respect the full range of the trailing stop but solely reflect first target hit with 22 pips. Nice outcome isn´t it?

Greetz Moersche

(By the way, thx TRO for coding all the free indicators, without you I never hat chance to come along. I never understood C. But in stats ?´m not that bad)

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TheRumpledOne
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Postby TheRumpledOne » Tue Dec 30, 2008 5:14 am

Image

You're welcome.

Funny you choose a SQUIGGLY.

But whatever works for YOU is all that matters.
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.

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MightyOne
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Postby MightyOne » Tue Dec 30, 2008 6:53 am

TheRumpledOne wrote:Image

You're welcome.

Funny you choose a SQUIGGLY.

But whatever works for YOU is all that matters.


Nice TRO, I know how hard that was to come out of your mouth :shock:

I_Believe_in_the_Theory
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Postby I_Believe_in_the_Theory » Tue Dec 30, 2008 8:55 am

Ok. This is so much further than I have read on the site yet. But, I need to post....
First and foremost, I love it, I love it all! Great job here! Why? Because it is quality! Sure there are moments when you wonder what the hell does TRO mean when you read "do you see it?". To that I have to say, just keep reading, and learning, and watching. It is there...do you see it? kidding.

Anyways, I have been at this since 2005, July to be exact, and have been trading steady since. Live after the first six months. (I need to add this so that you don't think I am brand spankin new,; and possibly consider disregarding my integrity), however, if you do, that is fine, I am still learning. Everyday. Point is, I am serious about it.

I am posting under a new handle as I don't want to be banned from other sites just for being part of this one. I don't understand the politics involved, and I want to keep my doors open to learn as much as possible, even if people hate those other forums. I will not go around trashing others or questioning their integrity as I believe we all just need to friggin get along and learn. Peace! (we need to really promote this train of thought in bear markets).

Anyways, I wanted to post about my first few demo trades using the trend stats data where you count hourly bars in succession, and look for the reversal trade. Simple. My first four trades worked tonight. euro dollar, swissy dollar, pound dollar, and euro yen. Five pips each and done. With FXCM demo mind you, until I sit down and learn about MBT. The four hour really seems promising. Considering tails and wicks, it seems to be no problem! I am pumped, and I am happy that we are learning about the REAL basics from TRO, and the real edge with him blessing us with his computer programming skills that can show us the stats, and give us the friggin EDGE, that all of the pros talk about, but never devulge!! It is the edge that you need, and the money management....not ever the system. Any system will work if there is an edge, but defining it and realizing it is the real trek. A search for this info is usually disovered after a few margin calls, and trading impulsively. Oh, it is the worst....what a gross feeling.

Anyways...I look forward to being part of this board, and hope that I can contribute as a member in helping others learn, and really hope to learn much, much more.

I am darn serious about this and refuse to quit... ever. I know I will get it, and will pursue it until my time comes. Until then, I wish you all the best and really, really hope that all of you make it, just as I aspire to one day too. Later, M.

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MightyOne
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Postby MightyOne » Tue Dec 30, 2008 3:15 pm

I_Believe_in_the_Theory wrote:Ok. This is so much further than I have read on the site yet. But, I need to post....
First and foremost, I love it, I love it all! Great job here! Why? Because it is quality! Sure there are moments when you wonder what the hell does TRO mean when you read "do you see it?". To that I have to say, just keep reading, and learning, and watching. It is there...do you see it? kidding.

Anyways, I have been at this since 2005, July to be exact, and have been trading steady since. Live after the first six months. (I need to add this so that you don't think I am brand spankin new,; and possibly consider disregarding my integrity), however, if you do, that is fine, I am still learning. Everyday. Point is, I am serious about it.

I am posting under a new handle as I don't want to be banned from other sites just for being part of this one. I don't understand the politics involved, and I want to keep my doors open to learn as much as possible, even if people hate those other forums. I will not go around trashing others or questioning their integrity as I believe we all just need to friggin get along and learn. Peace! (we need to really promote this train of thought in bear markets).

Anyways, I wanted to post about my first few demo trades using the trend stats data where you count hourly bars in succession, and look for the reversal trade. Simple. My first four trades worked tonight. euro dollar, swissy dollar, pound dollar, and euro yen. Five pips each and done. With FXCM demo mind you, until I sit down and learn about MBT. The four hour really seems promising. Considering tails and wicks, it seems to be no problem! I am pumped, and I am happy that we are learning about the REAL basics from TRO, and the real edge with him blessing us with his computer programming skills that can show us the stats, and give us the friggin EDGE, that all of the pros talk about, but never devulge!! It is the edge that you need, and the money management....not ever the system. Any system will work if there is an edge, but defining it and realizing it is the real trek. A search for this info is usually disovered after a few margin calls, and trading impulsively. Oh, it is the worst....what a gross feeling.

Anyways...I look forward to being part of this board, and hope that I can contribute as a member in helping others learn, and really hope to learn much, much more.

I am darn serious about this and refuse to quit... ever. I know I will get it, and will pursue it until my time comes. Until then, I wish you all the best and really, really hope that all of you make it, just as I aspire to one day too. Later, M.


Welcome to the Forum :!:

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TheRumpledOne
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Postby TheRumpledOne » Tue Dec 30, 2008 3:19 pm

WELCOME TO THE JUNGLE!!
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.

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MightyOne
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Postby MightyOne » Tue Dec 30, 2008 6:54 pm

The market exists to eliminate your money supply...
& overly technical traders :lol:

Notice that as price draws near to the "Pro Gap" that they cash in on high momentum and reach for a better price before tearing up the BO traders.

Charts can teach you to trade if you have a basic understanding of what is going on.

[glow=red]These are the most common stop levels:[/glow]

25-35-40-50-70-80


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TheRumpledOne
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Postby TheRumpledOne » Tue Dec 30, 2008 7:31 pm

Image

Just working on stuff.
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.

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TheRumpledOne
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Postby TheRumpledOne » Tue Dec 30, 2008 7:34 pm

"These are the most common stop levels:

25-35-40-50-70-80 "

How do you KNOW that?

MightyOne, a small favor, please post bigger charts (use www.tinypic) and/or switch your color scheme, it's hard to read. Thanks. You used to use a khaki background that was easy on the eyes.
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.

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MightyOne
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Postby MightyOne » Tue Dec 30, 2008 7:52 pm

TheRumpledOne wrote:"These are the most common stop levels:

25-35-40-50-70-80 "

How do you KNOW that?


I don't know the exact stop level a trader is using, but I can see where price reacts after I make an assumption about where traders may have entered into the picture.

What stop loss do you use? 20-30 pips?

In my Forex mentorship by Rio Financial through Forex Wealth
the rule of thumb is 35 pips for EUR pairs and 45 pips for GBP pairs.

The traders entering on the 4H charts were using 100 pip initial stops
and 50 pip stops for trades placed every 4 hours based on HA candles.

When you consider the stop levels talked about on forums and trailing stops the above is a good rule of thumb.

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