Never Lose Again

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MightyOne
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Postby MightyOne » Mon Apr 06, 2009 2:16 am

es/pip wrote:3 trades all profitable----traded the first line twice

left a ton on the table on the 3rd trade---never got a dfsr to get back in long


MO what r your thoughts when it rips like this or when you have a line and it goes above it and you dont get a dfsr to get even though your bias is long

+2.5% right now

Image


Trade what you see es / pip...

Just grab pieces of drift wood until you can build a boat to
sail through the larger picture.

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MightyOne
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Postby MightyOne » Mon Apr 06, 2009 2:21 am

es/pip wrote:amendment to my rules

sometimes i may trade whatever time frame that i want to :D

currently in this one


the only thing that i am not use to is now my stops are very large----lol but i will get use to it

Image


If you are using large stops then you are totally defeating the purpose of trading a small time frame.

pierre23
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Postby pierre23 » Mon Apr 06, 2009 2:25 am

When you build that boat es/pip, can you give me the plans? :wink: I'll go through it a few more times at home and try get it.

Only just finished learning zero lines too - no rest for the wicked I guess

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es/pip
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Postby es/pip » Mon Apr 06, 2009 2:35 am

MightyOne wrote:
es/pip wrote:amendment to my rules

sometimes i may trade whatever time frame that i want to :D

currently in this one


the only thing that i am not use to is now my stops are very large----lol but i will get use to it

Image


If you are using large stops then you are totally defeating the purpose of trading a small time frame.


edit------saying that as my wins increase my stop size increases


hmmmmmm i thought the idea was to add our pl to our stops to increase our staying power

so
when is that strategy applied

now that i say that---- i have a feeling that you are using that strategy when trading LARGE time frames

i may have misunderstood this strategy for the 2nd time----the last time---well we all know how i interpreted it

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es/pip
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Postby es/pip » Mon Apr 06, 2009 2:40 am

pierre23 wrote:When you build that boat es/pip, can you give me the plans? :wink: I'll go through it a few more times at home and try get it.

Only just finished learning zero lines too - no rest for the wicked I guess



it took me a while to get the zero line thing

this one took 45 min to understand it

look at MO's posts----put what he put on his charts and then put them on yours

my mind got in the way at first-----just step back and start over its all there in the posts

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aVi
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Postby aVi » Mon Apr 06, 2009 2:44 am

Now... I'm depressed. I got the ZL thing rather quickly. This stuff on the other hand, not so much...
Wake up Mr. Green...

pierre23
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Postby pierre23 » Mon Apr 06, 2009 2:45 am

es/pip wrote:
MightyOne wrote:
es/pip wrote:amendment to my rules

sometimes i may trade whatever time frame that i want to :D

currently in this one


the only thing that i am not use to is now my stops are very large----lol but i will get use to it

Image


If you are using large stops then you are totally defeating the purpose of trading a small time frame.


edit------saying that as my wins increase my stop size increases


hmmmmmm i thought the idea was to add our pl to our stops to increase our staying power

so
when is that strategy applied

now that i say that---- i have a feeling that you are using that strategy when trading LARGE time frames

i may have misunderstood this strategy for the 2nd time----the last time---well we all know how i interpreted it


I think he thought that you meant you were talking about your initial sl on the trade. I thought you were talking about that too. After adding your profit to your sl your risk % always stays the same, so look at it that way. No matter what timeframe it's giving you longer staying power, so I don't think it's jst for high timeframes

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Postby marcromero » Mon Apr 06, 2009 2:52 am

just want to say thanks to tro and everyone else who gives of there time and knowledge on this forum. I've really learned alot here. Also just wanted to say that since starting with the drain the banks method I have not have a losing trade.

Sledge100
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Postby Sledge100 » Mon Apr 06, 2009 2:59 am

TheRumpledOne wrote:
Sledge100 wrote:TRO:
Any Chance you can code things to Multicharts? Looking to get the TRO_DYNAMIC_FIB indicator coded for Multicharts platform.
Thanks,
Aaron


TRO DYNAMIC FIBS SR was coded for TradeStation years ago. Just look for it in the Motherlodes.


Sweet! Thanks, I'll have a look!
Aaron

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MightyOne
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Postby MightyOne » Mon Apr 06, 2009 4:56 am

aVi wrote:Now... I'm depressed. I got the ZL thing rather quickly. This stuff on the other hand, not so much...


As I always tell people,"you only suffer from depression when you
expect life to get better." :wink:

If/when the Dynamic Trend gets put into a multimeter then it will be no more confusing than candle color.

I was talking to a friend IRL and, to paraphrase, I said that if you always focus on the zig and the zag then you will never see the zoom.

How many of you have looked at a daily chart?

Do you not know that price moves a hundred or hundreds
of pips from the open to the close of the day?

How many of you have looked at a weekly chart?

Do you not know that price moves HUNDREDS of pips during
the course of a week?

Based on that information why do you find it so frackin hard to
be profitable.

If you always know where you are going then you will always make
it to where you are trying to get.

So where are you going?

Several hundred pips in some direction!

How are you going to survive the journey?

Now that is the question...

By way of the smallest risk crammed into the tightest space so that your reward can be seen from the heavens.

The probability of any particular trade surviving such a journey is
small compared to short term (only) trading so you have to remind your self that your suffering is in the name of a reward that can be seen from the heavens. A reward so great that it looks like an e-book fairy tale promise.

Some fail to realize just how important a trade is that was not immediately wrong.
Your stops should be expanded with your profit prior to a correction
and then, considering that price moves hundreds of pips in either direction, see if you happen to be right about the long term direction.

The initial risk you take is small because the probability of success is lower, but you compensate for lower probability and longer durations with your ability to trade multiple currencies due to your
low risk.

I know it doesn't make sense:

I tell you to risk little and then I have you risk all of your profit.

I tell you how to trade against people holding onto profit and then turn around and suggest that you hold onto yours.

This is a completely different set of psychological edges we are dealing with.

You are offering your profits while others are "protecting" them.

You are investing in your future while they are living for today.

You are long because the longer duration charts suggest that price eventually moves great distances from the point of your entry.
They are long because they are trying to make 10 or 50 pips a day
out of some sort of physical need for money that has nothing to do with anything.

The list continues with you prospering and the others sweating through the days only to achieve four decimal places to the right
of what you are bringing in.

Let not the talk of long durations tire you as I am still talking about trades which are entered and exited within the same day.
If you have already made an enormous gain on your account then it doesn't hurt to try a weekly and see if you can't land a 30, 40, 50% additional return.

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