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MightyOne
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Postby MightyOne » Tue Mar 03, 2009 7:37 pm

TheRumpledOne wrote:
Here is how I mark off a trading range:


Image

- "MightyOne"

========

The question that is begging to be answered is WHEN DID YOU MARK THAT RANGE?

Did you mark it on THAT CHART with all of those bars or did you mark it earlier?

Looks like I could code an indicator to plot those lines.


You tell me... :wink:

Image

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TheRumpledOne
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Postby TheRumpledOne » Tue Mar 03, 2009 8:12 pm

Image

The XAB indicators tell you how many times price crossed above/below the current bar over the last (x) bars.
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 Mar 03, 2009 9:16 pm

Image

This Fibo multimeter displays the fib retracements as a percentage for all of the chart periods.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Tue Mar 03, 2009 9:53 pm

Image

The shi channel multimeter shows the slope (green = +, red = -)

The fibo multimeter shows the fib retrace (green = up, red = down )
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Loding the simulator

Postby rickyineng » Tue Mar 03, 2009 10:17 pm

TheRumpledOne wrote:This is from Ronald Raygun's ForexFactory profile:


Here's a tip for the newbies who are learning to trade.

Ignore all that hype for various systems. Remember--for now--this one fundamental rule: The exit is more important than the entry.

With that in mind, I want you to do the following on a demo account:

1) Toss a coin: Heads long, Tails short
2) Manage the trade as you see fit. If you think the trade is bad, exit.
3) When you exit a trade, go back to step 1.

If you can double your account in less than 50 flips, I consider you a good enough trader to go live. I personally average between 20 and 30 flips, and I do it once a week, on the weekends, trading simulated data.

Simulator


Try it. It helps, LOADS.


[img][img]http://i40.tinypic.com/2rntvtw.jpg[/img][/img]

Hi TRO,

Thanks for posting the simulator link. I am trying to setup (as per the instructions given in setup file) this simulator on Alpari demo account, but, chart does not load at all.

Can you please provide some pointers to make it work.

Thank you very much.

cheerz,
-- ricky

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Postby TheRumpledOne » Tue Mar 03, 2009 10:31 pm

I have no idea... go to FF and ask Ronald.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby prochargedmopar » Tue Mar 03, 2009 10:45 pm

MightyOne wrote:Image


A Steve Nison classic "crack and snap".
#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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Postby es/pip » Wed Mar 04, 2009 12:49 am

MightyOne wrote:
es/pip wrote:all in all today made decent pips----- considering the market----------choppy


along with that other loser i had the one off the yellow lines--managed to get out at -10


thoughts?-------or is it just S#%$ happens sometimes :D

Image



You have to realize that although you are referring to the candles you are trading the psychology that they induce.

There are 2 things that I value most when trading:

1. that price never close below my entry on my smallest time frame.

2. that my entry candle never closes opposite in color on the chart my analysis is pegged to.

I can't say that I did not learn a lot from reading NLA :wink:

Absorb the market conditions and how you reacted with what happened and learn from your mistakes.
If you trade systematically day in and day out without change then you will eventually lose your edge.

+

Try scalping with stop reverse orders to offset losses.

Think about a 1/2 position reverse with 2/3 your stop trying to recover at least 1/2 your losses.

If you use experts then set an expert to manage your reverse only by changing the "manage long/short" option accordingly.


that price never close below my entry on my smallest time frame.

- do u ever enter a position off the timeframe u are trading---ie would u enter solely off a 30 min chart wicking your line---and if so--- u would then close it based on 5 min?


that my entry candle never closes opposite in color on the chart my analysis is pegged to.
- if I am pegging to a 1hr and enter of f a 1-2 on 5 min my entry bar most times is not going to close in my peg chart direction.----vrs trying to just play momentum off my larger line from the small chart

My concern now after reading what u wrote, is--- have I been getting lucky--bec I am not doing what you described above..

More or less I have been looking at all timeframes if I do not nec. Have a 1-2 on a higher timeframe but are coming into my zline--- I will look inside and try to get a 1-2 pattern on 5 min. If I see a 1-2 on the m15 or m30 I have just been taking them directly off that chart and looking inside on the hr chart---sometimes on the m30 chart I will look inside as well

I also have been wating for a 5 min close below my line and not my entry-and trying to get out after that close.


:shock: :( :(

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Postby prochargedmopar » Wed Mar 04, 2009 12:58 am

I heard the breakout is usually close to the same size as it's most recent consolidation.....(box range). Worked perfect in M.O.'s pic. Also, the prior resistance became support so yes, he could have already had the lines drawn before the break up.

Just as he said, He's always one step ahead of even himself.
Smokin.
:smt033
#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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MightyOne
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Postby MightyOne » Wed Mar 04, 2009 1:39 am

es/pip wrote:
MightyOne wrote:
es/pip wrote:all in all today made decent pips----- considering the market----------choppy


along with that other loser i had the one off the yellow lines--managed to get out at -10


thoughts?-------or is it just S#%$ happens sometimes :D

Image



You have to realize that although you are referring to the candles you are trading the psychology that they induce.

There are 2 things that I value most when trading:

1. that price never close below my entry on my smallest time frame.

2. that my entry candle never closes opposite in color on the chart my analysis is pegged to.

I can't say that I did not learn a lot from reading NLA :wink:

Absorb the market conditions and how you reacted with what happened and learn from your mistakes.
If you trade systematically day in and day out without change then you will eventually lose your edge.

+

Try scalping with stop reverse orders to offset losses.

Think about a 1/2 position reverse with 2/3 your stop trying to recover at least 1/2 your losses.

If you use experts then set an expert to manage your reverse only by changing the "manage long/short" option accordingly.


that price never close below my entry on my smallest time frame.

- do u ever enter a position off the timeframe u are trading---ie would u enter solely off a 30 min chart wicking your line---and if so--- u would then close it based on 5 min?


that my entry candle never closes opposite in color on the chart my analysis is pegged to.
- if I am pegging to a 1hr and enter of f a 1-2 on 5 min my entry bar most times is not going to close in my peg chart direction.----vrs trying to just play momentum off my larger line from the small chart

My concern now after reading what u wrote, is--- have I been getting lucky--bec I am not doing what you described above..

More or less I have been looking at all timeframes if I do not nec. Have a 1-2 on a higher timeframe but are coming into my zline--- I will look inside and try to get a 1-2 pattern on 5 min. If I see a 1-2 on the m15 or m30 I have just been taking them directly off that chart and looking inside on the hr chart---sometimes on the m30 chart I will look inside as well

I also have been wating for a 5 min close below my line and not my entry-and trying to get out after that close.


:shock: :( :(


Do not despair es / pip, I think that your trading is a little to the right of luck :wink:

You just have to recognize the difference between long term and short term charts.
Short term charts are traded with momentum and long term charts are traded with position.

When I get a setup on the 30 minute I am dropping down to a 15 minute or smaller time frame to trade that chart.

Why a 15 minute? Because my risk is based on average 15 minute range.
Again, I do not enter via a chart that is greater in time than that used to calculate risk.

That a candle not close against me: If I am not immediately right then some thing is immediately wrong.

That a candle not close opposite to my entry direction: If I am trading the 30 minute long (via a 15m or lower TF) and the 30 minute closes bearish then I would rather exit and trade the 30 minute with candle color than hold onto the trade.

Hopefully in the future I will code a MO advisor to answer all of your questions :wink:

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