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razorboy
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You know you are a nerd ...................

Postby razorboy » Sun Apr 26, 2009 2:29 am

when you spend a Saturday night trading a simulator.......

but what the hell, I thought I would post it - pretty much a running commentary of the thoughts in my head - I change my mind a lot - I'm wondering if any of the more experienced traders have this sort of train of thought or am I simply adapting to what I see?

In the image - the 3 was at the high with the check mark -and then came back down - was looking for a play off of support following the big moment up push up

Image

- support formed at 115. with wicks towards losses - in at 115. 20 - out at 60

Another big momentum bar just formed and closed - will look for a few things - will fall a bit and consolidate and resume its upward path - look for downward momentum to stall - there will.. be some wicks - hopefully a one will form - or price will plummet

If price falls by 30 -will buy it - Z line trade - in for one candle only - hugging the momentum candle. It fell buy at 115.59 - 20 pip sl - bought a lower red line - close - 74 - 15 pips

Image

Price started to fall - seemed to find support at previous high - long wick high where the 3 was - candle closed town - but momentum was decreased compared to previous bear candle- continued falling though - zeroed out the break out candle - dont get too excited - im thinking that we will see another run at the high and will play off that second run (in retrospect this did not happen, as you will read below)

The bars right now coming off the 3 have some good range to them - so i dont think I'm seeing a real consolidation and a turn down yet - there was probably a good entry on a lower time frame, but i'm not looking at that - i'm also not seeing enough of a push against the 116 level to go for a long ride down - will look for some long bull bars that don't break the res line before i consider shorting
Image

Starting to see some wicks at the 115.30 area short if price hits 115.20 - previous bull candle had no momentum - 5 period low. short hit @ 115. 20 - target is 114.55 - Sl is 115.30 - Running into some support @ 115.xx area

Image

Candle closed in my favor - new low on next candle at 115

Next candle was a small bull candle - closed at 15.18 - +2 pips - would have closed if it hit - 10

trade going my way again - new 5 period low...........

Image

Falling - a new 13 period low at 85 time to bail - 45 pips - getting bored

Image

I will let simulator run - see if my target gets hit - but no - it wont count in my total...

Practice total - three trades - 40 - 15 - 35 pips - 90 total

Any comments on my thought process - would love to hear it. Am I flip flopping too much or waiting for the market to express itself? I'm not sure myself, unless I keep up the 100 pips in under 3 hours routine - despite me looking for a bigger push down - price did travel 200 pips in the time i played - 100 up and 100 down.......

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aVi
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Re: Got MT4

Postby aVi » Sun Apr 26, 2009 4:41 am

ak wrote:Hey avi
OK got mt4 demo account. If I understand right I need to
download indicators to mt4 then somehow connect mt4 to
my vtrader platform.

I have read so much on "never lose again thread" I am not sure
which indicators to use---can you give me a link to the most recent
updates?

Also, do you know how I can link mt4 to my broker account?

Thanks Tro for all your hard work, we appreciate it!

ak


Like TRO said, you do not link your accounts - you simply use MT4 for analysis and make entries through your broker.

D/L the indis, drop them in your indicator's directory, then you can just drag and drop onto your charts. You can probably google some guide that'll show you how to do this.

Scroll the front pg of TRO's forum and you will see links to everything.

What indicators you use is completely up to you, load them up, see what you like - experiment. Or you can just d/l the template and use what's on that.
Wake up Mr. Green...

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Value Area

Postby razorboy » Sun Apr 26, 2009 10:42 am

MO,

I remember you mentioned that you placed your trades in regards to value - is the basic idea outlined in the pdf - its 2 pages long - what you were getting at - once price gets out side of the range with it has done most of its trading?
Attachments
DOW Mini - Value Area.pdf
Value area concept
(80.69 KiB) Downloaded 105 times

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MightyOne
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Re: Value Area

Postby MightyOne » Sun Apr 26, 2009 3:57 pm


Trading for value is simply taking into account longer term factors and exiting to re enter instead of trading against longer term considerations.



ImageImageImage



razorboy wrote:MO,

I remember you mentioned that you placed your trades in regards to value - is the basic idea outlined in the pdf - its 2 pages long - what you were getting at - once price gets out side of the range with it has done most of its trading?

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Postby MightyOne » Sun Apr 26, 2009 5:34 pm

Where are you in the bigger picture?

YL: Yearly Low
YH: Yearly High
(B): Before
(A): After

Reduce your risk when in profit, without moving your SL, and let the remaining position run.

There is only 1 highest high and 1 lowest low so the question is:

Is this highest high or lowest low the one that is going to pay me off big time?

Lets find out...

ImageImage

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Postby TheRumpledOne » Sun Apr 26, 2009 6:16 pm

YL: Yearly Low
YH: Yearly High
(B): Before
(A): After

Before/After WHAT??

The %Wins Needed in the Risk/Reward is the percentage you need to BREAK EVEN. It has nothing to do with LOSS RATE.

MightyOne: I sure hope you come to Cabo so we can sit down and get some of this stuff figured out.
Last edited by TheRumpledOne on Sun Apr 26, 2009 6:27 pm, edited 3 times in total.
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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razorboy
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Postby razorboy » Sun Apr 26, 2009 6:17 pm

MO,

Which dragon money management plug in are you using - i have the plug in, but it doesnt look like that

MightyOne wrote:Where are you in the bigger picture?

YL: Yearly Low
YH: Yearly High
(B): Before
(A): After

Reduce your risk when in profit, without moving your SL, and let the remaining position run.

There is only 1 highest high and 1 lowest low so the question is:

Is this highest high or lowest low the one that is going to pay me off big time?

Lets find out...

ImageImage

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MightyOne
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Postby MightyOne » Sun Apr 26, 2009 6:24 pm

TheRumpledOne wrote:YL: Yearly Low
YH: Yearly High
(B): Before
(A): After

Before/After WHAT??

The %Wins Needed in the Risk/Reward is the percentage you need to BREAK EVEN. It has nothing to do with LOSS RATE.


Thanks, I am aware :wink:

Read it as shown in the picture:

YL(B)YH: Yearly low before yearly high

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MightyOne
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Postby MightyOne » Sun Apr 26, 2009 6:33 pm

If you put Dragon MM on your charts and then close and re open Metatrader then only the title will show.

The indicator below the title is TRO_RiskReward.

razorboy wrote:MO,

Which dragon money management plug in are you using - i have the plug in, but it doesnt look like that

MightyOne wrote:Where are you in the bigger picture?

YL: Yearly Low
YH: Yearly High
(B): Before
(A): After

Reduce your risk when in profit, without moving your SL, and let the remaining position run.

There is only 1 highest high and 1 lowest low so the question is:

Is this highest high or lowest low the one that is going to pay me off big time?

Lets find out...

ImageImage

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razorboy
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Postby razorboy » Sun Apr 26, 2009 6:37 pm

gotcha......thanks
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

http://thejoshkerbelproject.com/

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