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razorboy
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not sure about this...........

Postby razorboy » Tue Jan 06, 2009 12:18 pm

I suspect that this is what TRO has been getting at or maybe I am just imaging it, so I would love some input (or just tell me D'uh, what are you stoooooopid, of course this is obvious)

I have been using half hour candles, rather than hour candles, so this may or may not hold true, but typically, the direction the candle opens in the first minute give an indication of the direction the 30 minute candle will close - just sort of smacked me in the face today. This doesnt mean there wont be profit in the other direction

Obviously, this isnt always the case - as you can plainly see in MO's charts (they use 5 and 60 minute candles) but using one minute and 30 minute candles this looked pretty clear

Is it really as simple as if the candle opens long, go long? if it goes short, go short and you will win more than you lose?

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TheRumpledOne
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Postby TheRumpledOne » Tue Jan 06, 2009 12:27 pm

Image

I enhanced the TRO MPMM DIBS TRADE indicator to show you the triggers in the GET READY message so you can have your LIMIT ORDERS standing by.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby kakuto » Tue Jan 06, 2009 2:10 pm

Hi TRO,

Thanks for the indicators!

i ll try to make it work with my trading plan

:D

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TheRumpledOne
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Postby TheRumpledOne » Tue Jan 06, 2009 2:17 pm

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



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TheRumpledOne
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Postby TheRumpledOne » Tue Jan 06, 2009 2:37 pm

IN MY INBOX....


Do you know? At least 90% of new Forex traders lose all their money within their first 3 months of trading. This means that they have no idea what the heck they are doing! They just jump into the market blindly with only hopes and dreams and rely on the flip of a coin to determine their success. 90% of Forex traders are uneducated and lack the basic knowledge of how the Forex really works. They rely solely on luck without LEARNING ANY OF THE BASICS AT ALL! And reliable sources suggest that up to 10% of these under- informed Forex traders end up losing their entire trading account!



So do we assume that most losing traders are just ignorant? Of course not. Most losing traders are quite intelligent. In fact, most people who inquire about Forex trading have above average IQ's. So why do they FAIL...? They simply lack the discipline required to learn about how the Forex actually works. They are initially overconfident and consider their quick 5 minute market analysis to be 100% correct. More often than not they are 100% WRONG!



Here are Ten Roadblocks to Success often faced by Forex traders:



1. You have signed up for two or three "systems" but none work as advertised.

2. You have purchased several books on technical analysis, but they are complicated and difficult to use in a fast-moving, volatile market.

3. You have watched so many different signals and studied so many indicators, you switch without a strategy from one approach to another. You are totally confused about when to buy and sell.

4. When you get behind, you force yourself to take bad trades in order to "catch up" or "get even". It's becoming more like gambling than disciplined trading.

5. You are paying big monthly fees for signals, but you still cannot achieve consistent profitability.

6. You are trading alone and wish you had some help and advice -- or just a little feedback from experienced traders.

7. Because you are discouraged, you begin to be suspicious that many suppliers are dishonest or just don't care about offering poor quality support.

8. Because you continue to lose money, trading is beginning to make you discouraged and stressed in other parts of your life.

9. Your losses are mounting quickly, into the thousands or perhaps hundred of thousands of dollars.

10. You are about to give up, because your account balance is low and you feel you have wasted all this time and money on useless research and unpleasant days of having the market move against you.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby prochargedmopar » Tue Jan 06, 2009 2:57 pm

Mighty One,
To easy my ass!

I just lost 44 pips on 5 trades.

Had usd/JPY go Green after 7, 7 mind you, consecutive h1 candles.
Yeah, anything can happen, right. Guess I need to take that buzzard now after 8 H1 candles. I'm going to bed instead.
eur/usd chewed me up too. went green, hedged a couple times, fooled around, Lost big time.

Hr Charts are kickin my butt!

Lets see, Note to self. Dont EVER go against the D1 candle unless I'm on a m15 or less.

Trading days be getting worse. I think I've left price action in the dust for all these indicators and fancy ideas floating around in my head.
Doh.

Update: Hey it finally worked.
eur/usd sell on buzzard picked up +23
usd/jpy closed on 8th buzzard candle and picked up +7
Got greedy with eur/usd and lost -18

Down -32 today. Joy.
Last edited by prochargedmopar on Tue Jan 06, 2009 3:50 pm, edited 1 time in total.
#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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TheRumpledOne
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Postby TheRumpledOne » Tue Jan 06, 2009 3:23 pm

Image

Some nice Buzzard reversals this hour!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby rrobin » Tue Jan 06, 2009 3:55 pm

[align=center]OLD BUZZARD[/align]


[align=center]HOW TO CAPITALIZE ON THE THREE HOUR CYCLE[/align]


Time and time again I've noticed myself and other traders, or investors, trying to establish positions paying high prices over the short term because we fall prey to what I've identified as a vicious three hour cycle. The cycle is unique in that it seems to force us to do the wrong thing at the wrong time on a pretty consistent basis.
Usually something like this happens: We decide it's time to buy and have located a stock under aggressive accumulation. Our next step is to make the actual purchase.
Being intelligent speculators, we wait for a strong down day ... the trap is about closed. But. . . before we place the actual order we are frightened and decide to wait until there's some strength coming into the market to validate our upward forecast.
So, we wait. Sure enough prices start to rally. Then we realize that we were right and try to buy, but only on our terms, below the current market. Prices continue moving up, ditto our buy orders. Unfortunately, the buy orders are not filled. This action continues for exactly three hours. Then we can no longer take it . . . we throw in market orders and buy our stocks at the high of the day just as
the current three hour cycle ends and a new down move begins.
As I've seen this pattern repeated time and time again, it was interesting to me to discover that psychologists have noticed a similar pattern in human behavior. In one test done at Northwestern University, groups of college students were exposed to speakers with views dramatically different than the groups. Little persuasive change was made at the end of one hour exposure and even less change at the end of two hours exposure. The most sizeable reversal of student's opinions occurred after three hours of exposure to the ideas that were presented.
Similar studies have shown subjects become extremely restless after three hours of boredom. In fact, boredom has been shown to follow a bell shaped curve wherein the first hour without external stimuli produces little boredom, the second hour more boredom with the third hour seeing the greatest boredom and restlessness peak, cresting as this emotion withers away.
These studies simply confirm what you can see every day in the market. Short term moves last about three hours which is just long enough to convince our emotions that we'd better get back into the game. That, of course, is exactly the wrong time to take action.
Only experienced traders can resist this emotional three hour jag or those who realize just how vicious this pattern can be. Keep in mind that our three hour cycle works on the down side as well as the upside. In fact, just about all forms of market action have mirror images reflecting the other side of the market.
On the downside, the three hours occur when you want to short or sell a stock and gets you to follow the stock down, on weakness, before you sell to the professionals who then act contra emotions, take your stock at the start of a short term rally!
The next time you are about to make a purchase or sale, stop to see if prices have been moving in your forecast direction for the last three hours. If so, wait and take your action later unless you like to buy high and sell low.

THE SECRET OF SELECTING STOCKS FOR IMMEDIATE AND SUBSTANTIAL GAINS
BY LARRY WILLIAMS Oct 1, 1986

kakuto
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Postby kakuto » Tue Jan 06, 2009 4:10 pm

Hi TRO,

i m using a retail broker (etoro), do you think your strategy could work if the ( fixed spread ) is 3pips, even in short therm chart 5min for example.
i know there is no fixed spread but i have red about ecn broker and retail..

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Postby TheRumpledOne » Tue Jan 06, 2009 4:20 pm

It should work.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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