Never Lose Again

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 15544
Joined: Sun May 14, 2006 9:31 pm
Reputation: 3035
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Sat Mar 14, 2009 9:28 pm

Image

"First trade:
After forming a new high there is a candle down with a bigger body marked with red number one.(be carefull it is not twice as big as previous) get ready there is a possibility. It is a body in direction of profit.
The green candle marked number two goes back up but body closes around zero line and has a big wick in direction of loss. "


I think I see why I was having a hard time.

When you say "wick in direction of loss", what you are saying is the wick FORMED in the direction of loss!!

In this case, the price went up and reversed, thus FORMING A WICK IN THE DIRECTION OF LOSS. Now, I understand.
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.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

rickyineng
rank: <50 posts
rank: <50 posts
Posts: 25
Joined: Tue Sep 23, 2008 9:35 pm
Reputation: 0
Location: Dorset
Gender: Male
Contact:

Postby rickyineng » Sat Mar 14, 2009 9:44 pm

dragon33 wrote:[glow=red]ESPECIALLY FOR MY FRIENDS HERE[/glow]

Image

First trade:
After forming a new high there is a candle down with a bigger body marked with red number one.(be carefull it is not twice as big as previous) get ready there is a possibility. It is a body in direction of profit.
The green candle marked number two goes back up but body closes around zero line and has a big wick in direction of loss. The candle to the right of number two failed to make a new high. When that candle closed i set my limit. I do NOT place my limits on the line, i always count my spread to it. If i put them on the line i miss those trades a lot because i'm two pips short!

I try to run 1 15m candle or more. When you see to the overlays you can see price has broken previous H1 body and previous candle has a big wick. That are signs to stay longer in trade.(H1 that breaks the H1 high could have a body twice as big, remeber that) When i can ride more then one candle i put my SL between the body that are past. I only do that when i can make more as 10 pip otherwise i take my profit.

second trade:
I have put a small limit order at a previous zeroline. You can see where that zero come from. I put a bigger order on a better price marked on a refernce point from the past short by that zeroline. If price never hit the order its ok by me!

trade 3:
New low, second candle is twice as big (momentum, sign to get ready)
price came back and i was to late to set a limit because wasn't watching my screen. I enterd with a market order.

trade 4:
same as all zerotrades. candle that makes a body that is twice as big as previous. Care some attention (there is also a wick on that candle, leave those trades when you can afford to lose. My limit was hit but price goes down. It was a scary moment but i holded my position. Price went almost down to H1 zeroline.

I hope you understand what i am trying to say. This is not easy fro me. I like to do it in Dutch :P . But then it is not easy for you guys :cry:
The most important to all of you is:

BODY AFTER LOW OR HIGH NEED TO BE TWICE AS BIG. WATCH THE H1 COLORS IT IS IMPORTANT


Thank you very much Patrick aka Dragon! That was quite helpful.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 15544
Joined: Sun May 14, 2006 9:31 pm
Reputation: 3035
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Sat Mar 14, 2009 9:59 pm

Image

Bill Dickens introduced me to the concept of TRAVEL a few years ago.

We all know range is high minus low. But it doesn't really capture all of the price action.

I came up with a simple formula for travel:

TRAVEL = 2*WICK + BODY + 2*TAIL.

Price may move up after open, hit a high, retrace to a low and retrace to a close.

Price may move down after open, hit a low, retrace to a high and retrace to a close.

Price "moves" up and down the wick.

Price "moves" down and up the tail.
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.

deeforex
rank: 50+ posts
rank: 50+ posts
Posts: 99
Joined: Tue Oct 31, 2006 5:46 pm
Reputation: 0
Gender: None specified

Postby deeforex » Sat Mar 14, 2009 10:46 pm

As I was trying to replicate the channels/grids that MO has been discussing the other day, I was wondering if mt4 had a tool besides trendlines by angle. It appears that Gann Grids might be able to draw the grids. I'm still experimenting with it but this is where you can locate it to try it out yourself.

Here's what metaQuotes has to say about it
http://ta.mql4.com/linestudies/gann_grid

The above article mentions 45 degree angle and that's the default grid setting but you can click the "tail" of the grid and snap the dots to different areas of the chart to change the angle. I'm still trying to get the hang of it so I can't give any more help on the matter.

Can someone tell me how to upload a picture besides attaching it as an attachment? I can't get the "upload picture" button to upload a jpeg from my computer.
Attachments
Gann_grid.jpg
Gann_grid.jpg (194.78 KiB) Viewed 4252 times

User avatar
es/pip
rank: 1000+ posts
rank: 1000+ posts
Posts: 2898
Joined: Wed Jan 21, 2009 9:28 pm
Reputation: 11
Gender: None specified

Postby es/pip » Sat Mar 14, 2009 11:06 pm

dee,

right click save picture as in mt4

then go to tinypic.com

upload pic and the copy and paste the img tag into the body of your message

i think that is what you were asking for

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 6055
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 560
Gender: Male

Postby MightyOne » Sat Mar 14, 2009 11:11 pm

Me use Gann Grids?

What ever gave you that idea :roll: *whistles*

Image

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 6055
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 560
Gender: Male

Postby MightyOne » Sat Mar 14, 2009 11:24 pm

If you cannot see then I will draw a less crowded picture.

Image

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 15544
Joined: Sun May 14, 2006 9:31 pm
Reputation: 3035
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Sat Mar 14, 2009 11:31 pm

OK, I'll bite.

How do you calculate the adjusted body size?
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.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 6055
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 560
Gender: Male

Postby MightyOne » Sat Mar 14, 2009 11:43 pm

From the low of = from the close of :roll:

Image
Last edited by MightyOne on Sat Mar 14, 2009 11:56 pm, edited 1 time in total.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 6055
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 560
Gender: Male

Postby MightyOne » Sat Mar 14, 2009 11:50 pm

Here are 2 on the monthly chart:

Image

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”