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pierre23
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Postby pierre23 » Thu Apr 23, 2009 10:21 pm

Just an idea tro; Would be easier visually if you could make, in the Herd Mentality, the comments green and red. So all the "Closed crossed ABOVE...." would be in green text. "Higher High Higher Low" would be in green text, D1 BUYERS in control in green text... etc etc and vise versa when things are showing down.

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MightyOne
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Postby MightyOne » Fri Apr 24, 2009 5:37 am

Now I am kicking myself that I got out with +20%...

Maybe deep down inside I feel bad for possibly taking too much for myself and not leaving any pips for the rest of you :roll:

While price trading above the prev. mom. bar is a sign of continuation, the failure of the "i" bar, sluggish breakout, and desire to head to the bar :wink: convinced me to exit.

:( its better than nothing I guess...

Image

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razorboy
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More fun with the dynamic trend

Postby razorboy » Fri Apr 24, 2009 2:28 pm

MO,

Just wanted some insight to see if I am interpreting the DT idea properly - or if I am just imagining stuff. What I think I am seeing is that if price doesnt clear the DT on a closed breakout candle, you are often in for a violent reversal

Upside breakout on the EJ D1 charge, price broke, but failed to close above the dynamic trend line

Breakout @ 128.10 - low of 126.79
range of prevous d1 - 128.11-126.20 = 191 pips
range of 2 prior days - 128.07-126.08= 199 - charts may not be exact as I had to reset the lines

Image

Dynamic trend lines are at 128.78 and 128. 70

On the four hour chart - price broke, but didn not close above the top line - I'm thinking short - plus there is a DFSR - short entry this looks to me to be exactly what MO was talking about as far as a huge move with no draw down risk

Image


Falls from 129 to 127.28 area - I was very surprised that the breakout price didnt hold - this is what I found the most confusing

Image


Fast forward to the next day - today


Image

On this, I havent drawn in the new h4 DTs on the active breakout - a target for a 1 hour chart based trade - , but based on the earlier H4 candle ranges, price has a fair bit to run up still (big h4 candle has a range of about 160 pips and the low of the break out h4 is 128.40 - (looking for a 130.xx target?)

1 hour chart - price has broken the DT line and losed above it on the one chart - i will look to go long when price retrace to the DT lines

Image


Any advice is always welcome

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TheRumpledOne
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Postby TheRumpledOne » Fri Apr 24, 2009 4:11 pm

Image

Range.

Set the TP and SL accordingly.

Should be able to win at least 50% of the time.

DRAIN THE BANKS!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby TheRumpledOne » Fri Apr 24, 2009 5:23 pm

Image

Drain, drain, drain the banks,
Drain 'em night and day.
Merrily, merrily, merrily, merrily,
We take their pips away!


Drain, drain, drain the banks,
Draining night and day.
Merrily, merrily, merrily, merrily,
Make the bastards pay.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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MightyOne
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Postby MightyOne » Fri Apr 24, 2009 5:52 pm

TheRumpledOne wrote:Image

Range.

Set the TP and SL accordingly.

Should be able to win at least 50% of the time.

DRAIN THE BANKS!!


I would disagree with using this tactic in favor of systematically reducing risk through profit taking.

3 units:

Profit taking at: 0.5, 1, & 1.5 to 1 which together = 1 to 1.

SL reduces automatically after each TP (SL is not moved):

9p SL becomes: 6, 3, 0 (TP @: +4.5, 9, & 13.5)

1. You lose 9 pips
2. You make 1.5 and lose 6 for -4.5
3. You make 4.5 and lose 3 for +1.5
4. You win 9 pips

If you make it to your first TP 50% of the time then your ratio becomes > 1.33 to 1.
If you make it to your first TP 70% of the time then your ratio becomes > 1.53 to 1.

For those who have little or no discretionary ability and are struggling to make money in Forex this is the way to go.

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TheRumpledOne
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Postby TheRumpledOne » Fri Apr 24, 2009 6:58 pm

MightyOne:

I think you left something out of the explanation. I don't understand.

If I can code it, then I understand it. I can only code what I understand.

Otherwise, I would be coding right now...

=================================

3 units:

Profit taking at: 0.5, 1, & 1.5 to 1 which together = 1 to 1.

AT 0.5, 1, & 1.5 WHAT? WHAT DO THESE NUMBERS REPRESENT?

SL reduces automatically after each TP (SL is not moved):

9p SL becomes: 6, 3, 0 (TP @: +4.5, 9, & 13.5)

HOW DOES 9 BECOME 6,3,0? IF SL IS 9 AND YOU HAVE 3 UNITS, THEN SL IS 27, 18, 9, 0 OR AM I MISSING SOMETHING??


(TP @: +4.5, 9, & 13.5) WHERE DID THESE COME FROM?



1. You lose 9 pips
2. You make 1.5 and lose 6 for -4.5
3. You make 4.5 and lose 3 for +1.5
4. You win 9 pips

WHERE DID 9 PIPS COME FROM?? IT LOOKS TO ME LIKE YOU LOSE 3 PIPS TIMES 3 UNITS.

If you make it to your first TP 50% of the time then your ratio becomes > 1.33 to 1.
If you make it to your first TP 70% of the time then your ratio becomes > 1.53 to 1.
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 » Fri Apr 24, 2009 7:09 pm

pierre23 wrote:Just an idea tro; Would be easier visually if you could make, in the Herd Mentality, the comments green and red. So all the "Closed crossed ABOVE...." would be in green text. "Higher High Higher Low" would be in green text, D1 BUYERS in control in green text... etc etc and vise versa when things are showing down.


Actually, that is more distracting.

The purpose of this indicator is to tell you what the herd is looking at. It is NOT a trade trigger. It is INFORMATIVE. That's why there are no colors or alerts. It is "event driven" in that is displays the information as the event is happening.
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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MightyOne
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Postby MightyOne » Sat Apr 25, 2009 1:58 am

TheRumpledOne wrote:MightyOne:

I think you left something out of the explanation. I don't understand.

If I can code it, then I understand it. I can only code what I understand.

Otherwise, I would be coding right now...

=================================

3 units:

Profit taking at: 0.5, 1, & 1.5 to 1 which together = 1 to 1.

AT 0.5, 1, & 1.5 WHAT? WHAT DO THESE NUMBERS REPRESENT?

SL reduces automatically after each TP (SL is not moved):

9p SL becomes: 6, 3, 0 (TP @: +4.5, 9, & 13.5)

HOW DOES 9 BECOME 6,3,0? IF SL IS 9 AND YOU HAVE 3 UNITS, THEN SL IS 27, 18, 9, 0 OR AM I MISSING SOMETHING??


(TP @: +4.5, 9, & 13.5) WHERE DID THESE COME FROM?



1. You lose 9 pips
2. You make 1.5 and lose 6 for -4.5
3. You make 4.5 and lose 3 for +1.5
4. You win 9 pips

WHERE DID 9 PIPS COME FROM?? IT LOOKS TO ME LIKE YOU LOSE 3 PIPS TIMES 3 UNITS.

If you make it to your first TP 50% of the time then your ratio becomes > 1.33 to 1.
If you make it to your first TP 70% of the time then your ratio becomes > 1.53 to 1.


3 units each have a SL of 9 pips at the same price.

Each unit is responsible for 3 pips in risk.

When you liquidate 1 unit at a target then your risk is reduced by 3 pips.

If your SL is 9 pips and your take profit is at 0.5, 1, and 1.5 to 1 then you take profit at 4.5p, 9p, & 13.5p.

When you TP at 4.5p your risk drops by 3 pips plus 4.5 / 3 or 4.5 pips bringing your total risk to 4.5 pips.

Your accuracy in reaching your first target (reducing risk) is what drives your ratio beyond 1 to 1.

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Postby PINKPANTHER5 » Sat Apr 25, 2009 2:44 am

Hi TRO,

Im just curious, you dont have to answer this question if you dont want. Are you a successful trader?

I just ask because I would think you are since you know so much about how to win. I would wish for you to be successful since you work so hard coding.

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