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TheRumpledOne
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Postby TheRumpledOne » Sat Feb 21, 2009 11:17 pm

MightyOne wrote: As soon as the day begins you wait for a minor pivot (Google) and place a buy/sell stop 25 pips beyond the pivot.
If a higher pivot forms without triggering your stop then move the order 25 pips beyond the new minor pivot.


Image

MightyOne:

You always seem to give me an idea or two.

I modified TRO_123_LINES to show only the 1-2-3 pivots for the current day. I also loaded the TRO_TREND_METER to show if price is moving away from the highest high or lowest low of the day.

You can see how price cut through the 1-2-3 bottom lines.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby razorboy » Sun Feb 22, 2009 12:21 am

From what I have read, one of the biggest "problems" facing traders of all skill levels is trying to figure out when a market is switching from ranging to trending and vis versa - some "systems" and "indicators" work well in one and get destroyed in another. I know there are some traders who swear by the Demark stuff, but truth be told, if his stuff was so good, he wouldn't be working for hedge funds - he would have his own - he clearly doesn't.

I think that this recent end of the "bull" market is proving who actually knew what they were doing, and who were just in the right place at the right time. A majority of the floor trading techniques seem to be very simple set ups and very fast.

As I spend more and more time on this, I actually read less and less about particular systems (I laugh at Moving Averages and RSI's) and just attempt to get insight from old school floor traders. People don't like simple answers. When I was in practice, patients used to say to me "When I move my neck this way or my back that way, it hurts. What can I do about it" - My answer "Don't move your neck or back that way"

- On your chart - I would stand to the side.........not sure


TheRumpledOne wrote:SIMPLE IS BETTER

Image

I have been reading, learning and coding systems from various forums. One thing is apparent:

PEOPLE LOVE COMPLEX SYSTEMS.

THE MORE SQUIGGLY LINES THE MORE THE SYSTEMS ARE COVETED!

Threads from Jacko and jjrvat that promote simplicity are almost dormant. Is that because traders learned the simple systems and have no need to post to the threads? Or is it because traders can not accept the fact that trading IS simple and skip over these threads in search of the HOLY GRAIL?

If just ONE SYSTEM WORKED, then it's just a matter of time before it would own everything. As traders, we look for something to give us an "edge" when we trade. But NO ONE KNOWS IF THE NEXT TICK WILL BE UP OR DOWN.

Rather than trying to predict which way price will go in the future, it is more profitable to identify which way price IS moving in the present and trade accordingly.

In the chart above, price is up from the open and from the open 1 bar ago and down from the rest. Which way would you trade - Long or Short?

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TheRumpledOne
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Postby TheRumpledOne » Sun Feb 22, 2009 12:44 am

TRO_Squiggly

Image

I know some of you like SQUIGGLY LINES so I wrote TRO_Squiggly to let you know, at a glace, if price up above/below the moving average and if the moving average is going up or down.

MT4 version of TRO_Squiggly, including SOURCE CODE, attached.


PLEASE DO NOT POST MY INDICATORS ON OTHER FORUMS.
Attachments
TRO_Squiggly.zip
(8.19 KiB) Downloaded 87 times
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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The end of the world......

Postby razorboy » Sun Feb 22, 2009 1:35 am

thought some of you may find this interesting

http://zerohedge.blogspot.com/2009/02/h ... pm-on.html

talk about draining the banks.........

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Postby es/pip » Sun Feb 22, 2009 1:41 am

tro,


btw, when i click on the link in your sig it doesn't work

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TheRumpledOne
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Postby TheRumpledOne » Sun Feb 22, 2009 2:06 am

es/pip wrote:tro,


btw, when i click on the link in your sig it doesn't work


Fixed.. thanks
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Postby prochargedmopar » Sun Feb 22, 2009 3:41 am

Posted by TheRumpledOne on 05-15-08 04:17 PM:
Day-Trading 2.0 for small traders

Trading Psychology - Double Your Discipline in Three Simple Steps

Thursday, May 15th, 2008

Peruse any book on trading and you?ll find that discipline is an absolutely critical factor in profitable trading. This particular aspect of trading is also one of the biggest challenges for most traders, even sometimes for those that have been trading the markets for years.

What you?ll find here are three simple steps to double your discipline in very short order. Don?t dismiss this method. Even though it won?t solve every discipline problem you may run into, it will take you in the right direction and you really can double your discipline very quickly.

Step 1: Be aware while you?re in the moment. During the moment when you find yourself tempted to deviate from your trading plan, pose yourself this simple question: ?Am I thinking about doing this out of emotion here or would this be in alignment with my better judgment?? Being aware of how you?re feeling - at the time - is what is critical, and then asking yourself the question. Often, the mistake happens because we simply are getting caught up in our emotions and the simple act of staying alert to the emotional surge will help to keep things in perspective. Awareness is only the first step though.

Step 2: Understand where the real problem is coming from. Usually the urge to deviate from your better judgment is coming from a fear. Here are a couple examples.

* Getting into or staying in a trade when you know that you shouldn?t often comes from the fear of missing out on an chance to profit. What is often erroneously attributed to greed is often a scarcity mindset coming into play. The fear of saying ?No? demonstrates the fear that there ?isn?t another bus coming soon?. When you don?t have the firm belief that there are numerous profitable opportunties to be capitalized on and that you have the know-how to take advantage of them, then the fear arises in the moment.

* Failing to pull the trigger is usually the fear of making a mistake more so than the fear of loss. Superficially it feels like the fear of loss, but the risk on any given trade is easily forseeable. This one is an issue of self-doubt due to past mistakes.

When reading the examples above, you may have noticed a common underlying factor. There is a way to counter fear, and the 3rd step is to address this specifically.

Step three: the most effective way to counter fear is through growing your confidence. Your daily life is full of risk and yet you can function will amidst this risk without any fear all. Why? Because you have the confidence to deal with it effectively. When you drive your car, go out in public, walk down a flight of stairs, you have no fear. You have developed the skills to do these things and do them well and without getting hurt. The potential for harm is there, but you have the confidence to handle these situations.

Trading is a relatively simple activity compared with other professions, particularly with the tools available in today?s world. It is certainly within your abilities, and as you educate yourself on and build your skills, you?ll find that your fears subside as your confidence grows. The challenge then becomes how to properly go about building your confidence - real confidence, not just courage.

True confidence comes from awareness, education, competence, practice, measurement of results and feedback for continuous improvement. Trading involves a significant body of knowledge and a respectable skill set to be developed to trade confidently. Unfortunately, many traders are not given the information when they start out to even know what they need to work on to become that successful trader that they envisioned at the start of their trading career.

Failing to stick to your system is but one of the many mistakes traders make that create losses and anguish. By knowing the root of the mistakes and having specific actions to take to avoid them, you are empowered to be a more consistent and profitable trader. There are numerous trading mistakes listed in the book, ?The Subtle Trap of Trading? along with particular actions you can take to keep from making them. When you see where mistakes originate, you will find that your trading is both more profitable and lower in stress.

Discover the confidence-building and psychology of trading resources for traders at http://insideouttrading.com

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xmess7
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Re: Semafor............

Postby xmess7 » Sun Feb 22, 2009 7:35 am

es/pip wrote:how do you know a #1 is a #1 in the 123 sequence before you know the
range of the #2 bar-------- and how do you know the #1 in your chart is
the #1 and not the bar before it

i watched your videos, but i may have missed it

looking forward to you sharing what you are doing


thanks

Hi es/pip I've seen some of your trades Good job!

Remember in trading there are no absolutes :)

It's after the fact. The 1-2-3 pattern are already formed.
You are then just looking for entries.

What I did was take the basics of the video information and made it into
my own little method. What I look for is a stair case pattern and make sure
that the pip distance between 1 and 3 is fairly great. I don't
necessarily take the trade at the resistive level that the author recommends.
I'll look for trades in all directions. In my observations,
I have made several trades in this manner, in this case I wait for price to
climb above candle 3 (sometimes I take a long there) and then wait to
SEE it start to crumble(like it's starting to do now). Then I take a trade
and wait to SEE if it reaches that resistive level.

BTW, I want to point there was another 1-2-3 BUY pattern on the 1H last
Thursday. Pierre made the LONG call of EURUSD several hours before it
happened :).
And I quote from the email
" From: Pierre Aghajani <pierre.lives@gmail.com>
Date: Thursday, February 19, 2009, 4:56 PM
Btw, I predict the Eur/Usd price to hit around the 1.2603
mark and bounce back up! I wanted to get it down on paper so I'll just
send you my prediction..
Hopefully I'm right ... lol "

EXCELLENT JOB PIERRE ! Even if u didn't take the trade LOL... :)

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Postby ajaymein » Sun Feb 22, 2009 8:12 am

XMESS, That stair step pattern is GENIUS! I am actually working on eyeball testing previous results of trading simple horizontal line crosses with that pattern...and it is looking VERY profitable right now!

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MightyOne
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Postby MightyOne » Sun Feb 22, 2009 10:15 am

TheRumpledOne wrote:
MightyOne wrote: As soon as the day begins you wait for a minor pivot (Google) and place a buy/sell stop 25 pips beyond the pivot.
If a higher pivot forms without triggering your stop then move the order 25 pips beyond the new minor pivot.


Image

MightyOne:

You always seem to give me an idea or two.

I modified TRO_123_LINES to show only the 1-2-3 pivots for the current day. I also loaded the TRO_TREND_METER to show if price is moving away from the highest high or lowest low of the day.

You can see how price cut through the 1-2-3 bottom lines.


How did I over look the TRO TREND METER :) that could come in handy!

Now that MBT is soon to have MT4 have you considered coding experts and scripts?

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