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TheRumpledOne
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Postby TheRumpledOne » Sat Oct 18, 2008 10:18 pm

ewokuk wrote:as usual it would SEEM simple, until I look a bit closer at what actually happened. its very easy to identify plenty of great trades......looking at charts after the event without looking really closely at what actually happened.

on the 4th red bar on the left, it first went up (see top wick). if you had taken a long just after it started going up you would have failed to reach 5 pips before it dropped and be stopped out at whatever stop was set. on the 7th red bar, again a very short upper wick where it first went up before dropping. 7 bars by your own stats is very very unlikely so you would have been waiting for a green to form, that bar WAS green at the start and using this trategy i would have taken it, and lost. so at what point do you take the trade? because i see plenty of losers there. after the 5 green bar retrace there were 4 reds. the 4th of those reds again started out going up and was green, again thats a signal for a buy, and would have lost before gaining 5 pips.

even if you set a rtule that after 3+ of one colour, you dont take the first one when it changes colour, you take the second, theres still losers there, after the 3 greens in the middle there is a red, you then plan on taking the next if it is red. it starts off by going down and is red so you take it, then it goes up again before 5 pips profit, even that wouldnt flush out these losers.

am i right or am i missing something? theory sounds like it works, but looking closely at what would have happened shows a lot of losers on there.



Image

I made a simple % retrace indicator (TRO_3Trigger) to plot short/long entry points.

If the price retraces X% from the high/low then you would enter the trade.

Of course, X% is an input.

TRO_3Trigger MT4 indicator including source code attached.
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TRO_3Trigger.zip
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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Sun Oct 19, 2008 1:26 am

Image

You can check the currency to see if it's going up or down overall.

This should indicate the expected reversal.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Sun Oct 19, 2008 1:32 am

Image

Simple.
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TheRumpledOne
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Postby TheRumpledOne » Sun Oct 19, 2008 1:38 am

Image

Price is either going up or down.

You can see where the dollar is weak and where it's strong.
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please read & comment : VERY important !!

Postby 4stroke » Sun Oct 19, 2008 10:20 am

never mind
Last edited by 4stroke on Sun Oct 19, 2008 6:10 pm, edited 1 time in total.

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Postby disbellj » Sun Oct 19, 2008 2:18 pm

TRO,

Your TRO_3 indicator appears to place arrows ON the 3rd same colored candle, not AFTER the 3 same colored bars.

Don


TheRumpledOne wrote:
I don't think I can make this any simpler.

TRO_3 places the arrowheads after 3 same colored bars.

DO YOU SEE IT NOW?

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Postby dragon33 » Sun Oct 19, 2008 2:44 pm

disbellj wrote:TRO,

Your TRO_3 indicator appears to place arrows ON the 3rd same colored candle, not AFTER the 3 same colored bars.

Don


TheRumpledOne wrote:
I don't think I can make this any simpler.

TRO_3 places the arrowheads after 3 same colored bars.

DO YOU SEE IT NOW?


Why do you make everything difficult?
The arrow on the third candle means: "get ready possible reverse"
Watch how many times it happens!!!

Hey TRO it looks for a lot of people much easier then before. LOL

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TheRumpledOne
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Postby TheRumpledOne » Sun Oct 19, 2008 3:50 pm

disbellj wrote:TRO,

Your TRO_3 indicator appears to place arrows ON the 3rd same colored candle, not AFTER the 3 same colored bars.

Don



That's right, Don, TRO_3 places the arrowhead on the 3rd bar of 3 consecutive red or green candles.

THAT'S THE HEAD'S UP!!

If you look at the TRO BAR STATS in the charts, you'll see how the number of instances of 3 or more is a lot less than 1 or 2. That's means there is a STATISTICALLY higher probability that there will be a reversal.
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Postby disbellj » Sun Oct 19, 2008 5:49 pm

dragon33,

TRO didn't say when he posted, that it put the arrow on the 3rd bar of same color. He said the arrow was put on AFTER 3 bars of same color. There is a difference. So I was trying to show the discrepancy between what was said and what the chart showed.

TRO,

Thank you for clarifying, so now what you have said does match what the chart showed. And I do understand what you are saying.

Don

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Postby pierre23 » Mon Oct 20, 2008 1:40 am

xmess7 wrote:
pierre23 wrote:In regard to the MBT Navigator. It seems that limit orders don't get filled in at all, its ticking me off. I'm guessing it doesnt work with the demo?... There have been a countless amount of times where I buy, or sell, using a limit order, and when the price goes right past it, or even idles ON the price I set the limit for, it NEVER gets filled.

I read somewhere that its possible to, for example, buy at the bid? And sell at the bid too? And vise versa, go short at ask and buy back at the ask. How would this be accomplished?

I ask that because at the moment the spread of the GBP/JPY is 4, which isn't too bad.. but before it was as much as 10, and its hard to buy at the ask and sell at the bid when theres such a big spread. What would you recommend, because I know you don't trade with 10 spread ._.

Oop, spreads back to 10 again =[


Piere check out the following image.
Make those selections in preferences before you make the entry.

use TRADE THROUGH for long positions
use FIRST TOUCH for short positions

Plus if you want the platform to work for pest price move the slider to the left. If you move it to the right then the platform will execute the order faster.
Image


Hey xmess, thanks for your time highlighting the points to take note of within the preferences. So to completely understand, when I think my next trade is short, I'll go into pref and change to First touch, and I open and close my short trade on that setting, and vise versa for a long position? Can I ask what that actually does changing those settings?

Also, is there a quick way of switching between the two? It's time consuming going into the pref > order entry > then change settings. In that 5 seconds it takes to change the setting the price could jump in any direction.

Thanks mate.

Pierre.

EDIT: this is getting just ridiculous. I'm nearly at the point where I'm going to change software/broker, this MBT Navigator is not working for half of the trades I want to put on. It keep saying "order rejected" when I go to place an order.. I change the route from MBTX and DEMO thinking it was that but no difference. I change the preferences like you suggested xmess, but still not working. It just WONT place my order. There IS sufficient funds. I sure hope this is not the case with a live account not being able to place orders. (I also changed the pref to First touch, as I was putting on a limit short order. The order came up in the Open Orders, but never got filled, even when the price was idling ON the same price I put my limit for. I just don't understand why it isn't working. Darn it, missed a perfect 85+ pip opportunity =[

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