Never Lose Again

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4stroke
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Re: no luck

Postby 4stroke » Wed Oct 15, 2008 7:08 pm

theperfectsun wrote:Well trying and trying, but it does not work for me. I don't know what am I doing wrong, maybe it is just not for me.

When trading 1H horizontal lines, all trades seem late too me, when going to 1H chart I see possible signals, I switch to 5Min chart and I watch the color of 1H bias. Usually the candles are going away from go_(short or long) positions, than I wait for them to come down, the bias color changes, I step in the trade and I loose. Why? I watch 1D colour, I am carefull to go in the trades the way 1H and 1D bias is, but what the hell I don't see?

Is it possible to help me see?

Chart attached, please comment.



Did u see the BIG YELLOW 3 show up at the very bottom of the chart ?
And i see that u use stoch.
I see that the last (deepest) drop in price WAS NOT confirmed by stoch , that was a good signal.
Stoch is very helpfull to spot divergences.
In a run up , higher tops not confirmed by stoch = get out , and vice versa.Hope this helps

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ewokuk
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Postby ewokuk » Wed Oct 15, 2008 7:08 pm

like i said, check the chart yourself, that last red candle on perfectsuns chart moved TWO PIPS before shooting up like a rocket on the next bar. doesnt matter what broker you used for that trade, it was a loss, for once, I read it exactly right.

seriously, go check it. doesnt matter how good anyone is, you cant scalp 10 pips, or even 5 pips, from a bar that moved 2 pips.

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dragon33
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Postby dragon33 » Wed Oct 15, 2008 7:33 pm

ewokuk wrote:like i said, check the chart yourself, that last red candle on perfectsuns chart moved TWO PIPS before shooting up like a rocket on the next bar. doesnt matter what broker you used for that trade, it was a loss, for once, I read it exactly right.

seriously, go check it. doesnt matter how good anyone is, you cant scalp 10 pips, or even 5 pips, from a bar that moved 2 pips.


On my chart that candle was 15 pips. but hey i didn't take that trade so i'm not going to discuss if it would have been a winner or loser.
My first answer was just a view of the post here nothing more. If i was trading those hours i wouldn't have sell that pair at that time because i would have known the price was up

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Sweet Pip
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Re: no luck

Postby Sweet Pip » Wed Oct 15, 2008 9:53 pm

theperfectsun wrote:Well trying and trying, but it does not work for me. I don't know what am I doing wrong, maybe it is just not for me.

When trading 1H horizontal lines, all trades seem late too me, when going to 1H chart I see possible signals, I switch to 5Min chart and I watch the color of 1H bias. Usually the candles are going away from go_(short or long) positions, than I wait for them to come down, the bias color changes, I step in the trade and I loose. Why? I watch 1D colour, I am carefull to go in the trades the way 1H and 1D bias is, but what the hell I don't see?

Is it possible to help me see?

Chart attached, please comment


Ok, here's how I would have evaluated it with the indicators you are using. I see the 1st big "3" at the top of the screen...resistance
I see the 2nd big "3" at the bottom of the chart...support. Theoretically, the next big 3 will be up, and hence price is moving up. Therefore, "go with the flow" and look for long entries. There's not much in the way between where price is on your chart...and the resistance line.

First get consistently profitable going with the flow, then try countertrend trades.

Keep in mind, Higher Highs (green candles) & Higher Lows (red candles) when in an immediate uptrend. Try to see the 1-2-3 patterns...1 is a low point, 2 is higher point, 3 is a higher low. You could start counting 1 from the last semafor 3.

Now you can wait for the H1 and/or D1 to turn green, or do something that feels totally wrong...like buying when at the end of one of those red candles...lol. Of course we don't know where that is at the time, but chances are good if the next candle is green and moves up to at least the prior red candles mid point, and price is moving up, then chances are it will continue to move up. You don't have to wait for the candle to close.



I wouldn't use the stochs here... it's not a trend type indicator.

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Re: no luck

Postby xmess7 » Thu Oct 16, 2008 12:58 am

theperfectsun wrote:Well trying and trying, but it does not work for me. I don't know what am I doing wrong, maybe it is just not for me.

When trading 1H horizontal lines, all trades seem late too me, when going to 1H chart I see possible signals, I switch to 5Min chart and I watch the color of 1H bias. Usually the candles are going away from go_(short or long) positions, than I wait for them to come down, the bias color changes, I step in the trade and I loose. Why? I watch 1D colour, I am carefull to go in the trades the way 1H and 1D bias is, but what the hell I don't see?

Is it possible to help me see?



Here's my input.... I would not have taken a short trade. I looked at the H1 chart and it told me what price was doing in that instant. BTW Dragon was right if you wait you would have had a good run of Pips :)

Image

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theperfectsun
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Postby theperfectsun » Thu Oct 16, 2008 3:17 pm

I am thankful to all of you for your explanations. I will try it tomorrow, had no time to trade today. Will post more charts, please you do it too. Se we can all see and learn.

Thanks, happy trading.
thank you

Good luck to you all!

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TheRumpledOne
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Postby TheRumpledOne » Thu Oct 16, 2008 4:41 pm

TRO BAR COUNT

TRO BAR STATS


Image

I like having real time stats. So I created TRO BAR COUNT and TRO BAR STATS. Now I can see how many times green follows green and red follows red and know what the current count is on all time frames.

Combine this with the 3 Level ZZ Semafor and you have good idea when to take the reverse trade.

Now all you have to do is sit around like a buzzard waiting for 3, 4, 5 or more bars in row and then enter in the reverse direction.
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 » Thu Oct 16, 2008 6:21 pm

Image

Made TRO BAR STATS2 ... takes up less space.

You can see how waiting for a 3 bar run to finish provides a nice reverse scalp.
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 » Thu Oct 16, 2008 7:27 pm

Image

5 green H1 candles in a row... think it's reversal time?

I see a "2" on the top of the last candle.
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 » Thu Oct 16, 2008 8:07 pm

Image

This is EXACTLY the reason you have to STOP THINKING and TRADE WHAT YOU SEE!

Never trade against H1.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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