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MightyOne
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Postby MightyOne » Sun Jan 04, 2009 2:24 am

TheRumpledOne wrote:TILT? Isn't that Pinball??

The part that rang true for me is all the people who want to fiddle with something BEFORE they learn and master it. IT'S AMAZING!!


http://en.wikipedia.org/wiki/Tilt_(poker)

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Postby MightyOne » Sun Jan 04, 2009 2:36 am

Not Forex, but I thought you might find it interesting to see that zero lines occur in every market and in every time frame.
This is the MONTHLY SPOT GOLD chart with a bounce off the zero line worth more than $100/oz!

Image

Link to the Gold price in most currencies:
http://goldprice.org/gold-price.html
Last edited by MightyOne on Sun Jan 04, 2009 3:51 am, edited 1 time in total.

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TheRumpledOne
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Postby TheRumpledOne » Sun Jan 04, 2009 3:06 am

Image

CANDLE INDICATOR ATTACHED.

I found code HERE
Attachments
CANDLE.zip
(9.45 KiB) Downloaded 284 times
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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MightyOne
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Postby MightyOne » Sun Jan 04, 2009 3:28 am

TheRumpledOne wrote:Image

CANDLE INDICATOR ATTACHED.

I found code HERE


Is this exactly the same as your Custom Candle Indi?

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Postby razorboy » Sun Jan 04, 2009 3:58 am

speaking on behalf of the idiots, I can say that part of the fun of learning to trade is that one has to learn patience. People want instant gratification - if the first few trades dont work...........the whole approach obviously doesnt work and is obviously not worth while learning:)

Now the question is - can the DIB become a HIB and still work?

TheRumpledOne wrote:TILT? Isn't that Pinball??

The part that rang true for me is all the people who want to fiddle with something BEFORE they learn and master it. IT'S AMAZING!!

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Postby MightyOne » Sun Jan 04, 2009 4:21 am

When it comes to BO trading I trade on a time frame where I have time to see price creeping toward a BO so that:

1: I can see that there is likely to be a burst of momentum soon throwing me into larger profits (BAR Multimeter on my charts)
2. I have time to get in at a better price.

I also watch for poor breakouts and moves to common stop levels followed by price continuing toward the breakout and enter at a better price.
Just because the firework stops popping that doesn't mean that there isn't one more BOOM left in the barrel.

NOTE: Most experienced traders trade before the actual breakout of the extreme and take partial profits on BO.

razorboy wrote:speaking on behalf of the idiots, I can say that part of the fun of learning to trade is that one has to learn patience. People want instant gratification - if the first few trades dont work...........the whole approach obviously doesnt work and is obviously not worth while learning:)

Now the question is - can the DIB become a HIB and still work?

TheRumpledOne wrote:TILT? Isn't that Pinball??

The part that rang true for me is all the people who want to fiddle with something BEFORE they learn and master it. IT'S AMAZING!!

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Postby MightyOne » Sun Jan 04, 2009 5:02 am

Remember that when you see an inside bar on the H1 and price went 30, 60, 80+ pips in one direction that most of the time it did not do so by moving in a straight line.
It is not an enter on the breakout or you missed your train kinda deal.
Most of the time you can get a better price and that should be your whole mind set.

Better price to enter<-----LARGE PROFIT----->All you can grab

TRADERS TRICK: A lot of times you can tell if a bar is going to close an inside bar. Look for a trade (based on w/e) before the IB closes in anticipation of the breakout.
Last edited by MightyOne on Sun Jan 04, 2009 7:29 pm, edited 2 times in total.

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TheRumpledOne
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Postby TheRumpledOne » Sun Jan 04, 2009 5:06 am

MightyOne wrote:
TheRumpledOne wrote:Image

CANDLE INDICATOR ATTACHED.

I found code HERE


Is this exactly the same as your Custom Candle Indi?


I didn't write the custom candle indicator.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Sun Jan 04, 2009 6:41 pm

Image

Looking at the currencies' movement relative to the market session opens, previous week's close and previous month's close.

Was rereading the Peter Crown material:

Post #23

Trading the "hot hand": Trading the strongest/weakest market is actually really simple. For example, yesterday the Eur/Usd was up more proportionately than the Usd/Chf was down. This was because the Usd/Chf wasn't even a down day. Definitely off its highs but not down relative to last week's close. The Eur/Usd was up, up and away! So that is the market you buy.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby MightyOne » Sun Jan 04, 2009 7:09 pm

I found a more nimble way to adjust the size of my stop loss to the range of the 5m bars.
I thought to my self 'TRO has us trade hour to hour so why am I considering a days worth of stats?'
I then adjusted to an hours worth of stats and compared the results of the 2 methods and came up with the below formula for hour to hour SL adjustment.
I am just throwing this out there for you to consider for your self...

TRO_RANGE_COUNT

M5 RANGE COUNT (12)

Range divided by 4 and then multiplied by 10.
Or Range multiplied by 2.5 :wink:

EURUSD is sitting at 8.23 for a 20.5 pip SL
GBPCHF is sitting at 13.91 for a 34.7 pip SL
GBPUSD is sitting at 10.89 for a 27.2 pip SL

I am going to use the 8.23, 13.91, 10.89, etc as a minimum profit target for the Min. Target Trader's Trick.

EURUSD you wait for price to blow through 8.2 pips profit (it could move to 12, 20, 30, w/e) price backs away from the extreme for a few seconds and you place your order to exit at the extreme.

PS: I don't want it to sound like I don't still consider a days worth of stats. I still want to know what can happen during my trading DAY.

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