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dragon33
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Re: Homework Homework Homework

Postby dragon33 » Fri Oct 31, 2008 10:45 am

Shane wrote:
razorboy wrote:Wrote these notes last night.....the first paragraph rambles a bit


Here is the consistent pattern, regardless of H1 and D1 colour. Going in the
direction of H1 and D1 colour is the optimal solution. Going with H1
color is ok as well. you can go against h1 and d1, but it is risky - you may get one fast candle going your way

This is using the dynamic fib lines ....the dots. The key, more than
color candle of the candle making resistance, is the relation ship of the
close of this candle and the opens of following candles.

Bouncing off resistance on an M5 chart

A green candle (usually) hits resistance...red dots start to form. Wait
for this candle to close. Look for the next candle to open at or below
the close of the first candle, it is not always the next candle, but
usually follows soon after. It may or may or may not reach up to touch
resistance, so it may or may not turn green as it makes a long wick. What
you are looking for is for this red candle to fall below the pivot point
created by the candle that made the high. Short it when it crosses this
line - it is indicated on the chart (magically, sometimes it does stall
here).
The important part to watch is the relationship between the close
the prior candle and the open of the new one that you are expecting to
fall thru the short line.

I have strayed away from using pivot points for entrys. When you get a long candle with a long wick that makes the sup/res, the pivot is too far away from the s/r line to make an entry - often the move is almost done by the time the pivot is hit and entry signalled. And (like you said) the price often stalls at the 5 min pivot - I don't like entering when the price is stalling.


The idea is that price has stalled - no more higher opens

Bouncing off support

A red candle (usually) hits support. Blue dots form. Wait for this
candle to close. Look for the next candle that open at or above the close
of the red candle that marks the support line (it may not always be the
next candle). This candle may reach down to the support - long shadow,
so it may go red for a bit. What you are looking for is for the green
candle to come up and cross the pivot point, which is the buy line, you
buy when it cross this line (again watch for stalls at this line). Again
the important part is to watch the relationship between the close of the
higher candle and the open of the new one. the new one should open at or
above the close of the candle that started to form the support line.

Look at the pattern on these charts

http://forums.babypips.com/show-me-mone ... #post74080.

On this chart look at the last series of resistance dots.
H1 was still green
1. a green candle made resistance
2. next candle opened below close of green and below the short line, went
up a bit, then fell and bounced back up. Depending on your timing, you
could have lost money - you would have been going against H1
3. There are two green candles
4. there is the first of two red candles, this first red candle meets the
criteria of falling thru the sell line, but h1 is still green.
5. The second of two red candles. H1 has turned red, red candle is below
short line, but the open is higher than the close that made the resistance
line.
6. a Green candle
7. A red candle. Open is lower than the close of the green candle that
made resistance and we are below the short line - this was a safe entry


I am red/green colourblind. Let's just say i am glad I had coffee before I tried to relate this description to the chart. lol :shock: ;)


You can see that when the candle hit support, there was a buy opportunity.
1. Open of the green candle was at or above the close of the red candle
that made the support line, h1 was green, and the candle was above the buy
line

More charts
http://kreslik.com/forums/viewtopic.php ... &start=560

First Chart on the page, with the double blue arrows.

A candle formed support. We are now looking for candle going in the
opposite direction that has 3 things.
1. it agrees with H1
2. It open is at or above the close of the candle making the support line
3. It crosses the buy line. which is the pivot point of the candle that
created the support line
- happened 3 candles following the support making
candle

ON MY CHARTS THE BUY LINE IS NOT THE PIVOT POINT.
THE BUY LINE IS AN 11.8% FIB!!!
THE SELL LINE IS AN 88.2% FIB!!!


another chart

http://kreslik.com/forums/viewtopic.php?p=12038#12038

Follow the pattern across the screen starting from earlier in the day.
you will see that although there are situations where the above conditions
are not met, for example green candle makes resistance and the next candle
is red, but its open is above the close of the green, you could have made
a short trade, but you wont see a big move (you can find example to
disprove me on this chart, but i would have just waited for the right
candle to enter on, rather than risk having the trade come back on me)


An additional caveat.......never chase women, buses, elevators or price............you will always get left behind, and another one usually comes along in about 2 minutes.........


razor, I added some comments in your quote.

Good work! :)


Hey Shane the buy and sell line are the pivot points from the candle that makes the support or resistance! This is only on the TRO dynamic fibs SR!
I don't know that for the donational indicator.

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Postby razorboy » Fri Oct 31, 2008 2:13 pm

I try and stick to the concept as close as possible. While it may be possible to fudge it once in a while, All i need to do is test it once in a while and have it come back and bite me in the ass.

For example, right now on 5M EurUS there are two green bars with a green H1. Third green bar starts to open, but the open is just a touch below the close of the previous green bar, but got in just to see......and you guessed it, it went against me, turned red and fell. A second red bar is now forming with a lower open than the close of the first red bar. Tempting to get in, but i know that wwth the lower open, it is just as likely to go against me as it is for me

Al Mo
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Holy crap TRO....I think I finally got it!

Postby Al Mo » Fri Oct 31, 2008 4:34 pm

Folks, work at this....read, read read, try try try...rinse and repeat.

Today might be a total luck day for me, but I have a distinct feeling that I have finally arrived.

I no longer need TRO's indicators - I SEE THE TREND. TRO has opened my eyes :)

Enclosing my trades for today - new demo account opened THIS MORNING!!!

Everything TRO, Dragon, xmess, and et al have been saying works....

Stick to it

-Al Mo

**edited to include the trades....found out the hard way I cannot post .htm files , the MT4 default for reports :( ****
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Last edited by Al Mo on Fri Oct 31, 2008 5:10 pm, edited 2 times in total.

Shane
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Re: Homework Homework Homework

Postby Shane » Fri Oct 31, 2008 4:55 pm

dragon33 wrote:
Shane wrote:
razorboy wrote:Wrote these notes last night.....the first paragraph rambles a bit


Here is the consistent pattern, regardless of H1 and D1 colour. Going in the
direction of H1 and D1 colour is the optimal solution. Going with H1
color is ok as well. you can go against h1 and d1, but it is risky - you may get one fast candle going your way

This is using the dynamic fib lines ....the dots. The key, more than
color candle of the candle making resistance, is the relation ship of the
close of this candle and the opens of following candles.

Bouncing off resistance on an M5 chart

A green candle (usually) hits resistance...red dots start to form. Wait
for this candle to close. Look for the next candle to open at or below
the close of the first candle, it is not always the next candle, but
usually follows soon after. It may or may or may not reach up to touch
resistance, so it may or may not turn green as it makes a long wick. What
you are looking for is for this red candle to fall below the pivot point
created by the candle that made the high. Short it when it crosses this
line - it is indicated on the chart (magically, sometimes it does stall
here).
The important part to watch is the relationship between the close
the prior candle and the open of the new one that you are expecting to
fall thru the short line.

I have strayed away from using pivot points for entrys. When you get a long candle with a long wick that makes the sup/res, the pivot is too far away from the s/r line to make an entry - often the move is almost done by the time the pivot is hit and entry signalled. And (like you said) the price often stalls at the 5 min pivot - I don't like entering when the price is stalling.


The idea is that price has stalled - no more higher opens

Bouncing off support

A red candle (usually) hits support. Blue dots form. Wait for this
candle to close. Look for the next candle that open at or above the close
of the red candle that marks the support line (it may not always be the
next candle). This candle may reach down to the support - long shadow,
so it may go red for a bit. What you are looking for is for the green
candle to come up and cross the pivot point, which is the buy line, you
buy when it cross this line (again watch for stalls at this line). Again
the important part is to watch the relationship between the close of the
higher candle and the open of the new one. the new one should open at or
above the close of the candle that started to form the support line.

Look at the pattern on these charts

http://forums.babypips.com/show-me-mone ... #post74080.

On this chart look at the last series of resistance dots.
H1 was still green
1. a green candle made resistance
2. next candle opened below close of green and below the short line, went
up a bit, then fell and bounced back up. Depending on your timing, you
could have lost money - you would have been going against H1
3. There are two green candles
4. there is the first of two red candles, this first red candle meets the
criteria of falling thru the sell line, but h1 is still green.
5. The second of two red candles. H1 has turned red, red candle is below
short line, but the open is higher than the close that made the resistance
line.
6. a Green candle
7. A red candle. Open is lower than the close of the green candle that
made resistance and we are below the short line - this was a safe entry


I am red/green colourblind. Let's just say i am glad I had coffee before I tried to relate this description to the chart. lol :shock: ;)


You can see that when the candle hit support, there was a buy opportunity.
1. Open of the green candle was at or above the close of the red candle
that made the support line, h1 was green, and the candle was above the buy
line

More charts
http://kreslik.com/forums/viewtopic.php ... &start=560

First Chart on the page, with the double blue arrows.


A candle formed support. We are now looking for candle going in the
opposite direction that has 3 things.
1. it agrees with H1
2. It open is at or above the close of the candle making the support line
3. It crosses the buy line. which is the pivot point of the candle that
created the support line
- happened 3 candles following the support making
candle

ON MY CHARTS THE BUY LINE IS NOT THE PIVOT POINT.
THE BUY LINE IS AN 11.8% FIB!!!
THE SELL LINE IS AN 88.2% FIB!!!


another chart

http://kreslik.com/forums/viewtopic.php?p=12038#12038

Follow the pattern across the screen starting from earlier in the day.
you will see that although there are situations where the above conditions
are not met, for example green candle makes resistance and the next candle
is red, but its open is above the close of the green, you could have made
a short trade, but you wont see a big move (you can find example to
disprove me on this chart, but i would have just waited for the right
candle to enter on, rather than risk having the trade come back on me)


An additional caveat.......never chase women, buses, elevators or price............you will always get left behind, and another one usually comes along in about 2 minutes.........


razor, I added some comments in your quote.

Good work! :)


Hey Shane the buy and sell line are the pivot points from the candle that makes the support or resistance! This is only on the TRO dynamic fibs SR!
I don't know that for the donational indicator.



I have 3 different dynamic fib indicators in my folder
TRO_DYNAMIC_FIBS_SR - this is the one I use

_TRO_DYNAMIC_FIBS_SR - this the basic version without alert levels

_TRO_DYNAMIC_FIBS_SR_L this is another basic version with lines instead of dots and again - no alert levels


See for yourself - here's the code chunk for the alert lines:

Code: Select all

extern double    iAlertBuyLevel   = 0.118;
extern double    iAlertShortLevel = 0.882;


Code: Select all

iAlertBuy    = DynS[0] + ( range * iAlertBuyLevel ) ;
iAlertBuy    = NormalizeDouble( iAlertBuy , digits ) ;
 
iAlertShort  = DynS[0] + ( range * iAlertShortLevel ) ;
iAlertShort  = NormalizeDouble( iAlertShort , digits ) ;



Perhaps I missed an update - or the free version is different to the donational version????

All I know is that it is working - so that's all that really matters!!!


Enjoy your weekend folks :D
"If any man can convince me... ...that I do not think or act aright, gladly will I change; for I search after truth, by which man never yet was harmed. But he is harmed who abideth on still in his deception and ignorance." - Marcus Aurelius Antoninus

Shane
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Re: Holy crap TRO....I think I finally got it!

Postby Shane » Fri Oct 31, 2008 5:06 pm

Al Mo wrote:Folks, work at this....read, read read, try try try...rinse and repeat.

Today might be a total luck day for me, but I have a distinct feeling that I have finally arrived.

I no longer need TRO's indicators - I SEE THE TREND. TRO has opened my eyes :)

Enclosing my trades for today - new demo account opened THIS MORNING!!!

Everything TRO, Dragon, xmess, and et al have been saying works....

Stick to it

-Al Mo


Congratulations Al,


Were you using the latest TRO bar counting method (Buzzard) to get these results?

Very nice work!


BTW - Anyone planning on going in the forexrazor.com November trading contest - hurry up, registration ends in a few hours time!
Last edited by Shane on Fri Oct 31, 2008 5:18 pm, edited 1 time in total.
"If any man can convince me... ...that I do not think or act aright, gladly will I change; for I search after truth, by which man never yet was harmed. But he is harmed who abideth on still in his deception and ignorance." - Marcus Aurelius Antoninus

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Postby Al Mo » Fri Oct 31, 2008 5:14 pm

Hi Shane,

Initially I was just using the pivots (H+L+C)/3 to determine previous bar, but I kept seeing how Dragon was steadily progressing using the TRO Dynamic SR + Candle color. I studied that intently for some time until I got that 'Aha! ' moment.....once you get there, you won't need the indicators! TRO is dead to rights on that. I suspect that regardless whatever TRO indicators you use, you will eventually get there...just stick with it.

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Postby dragon33 » Fri Oct 31, 2008 5:44 pm

Wooow, i see a lot aha moments here.
Of course it works fine otherwise i couldn't show off with my results. :D

Keep up the good works guys finally you're trading well and making some money.

Cheers

PS.: Give yourself every week a little gift to celebrate you are trading well.

I give myself and wife (ofcourse) a bottle of champagne we are doing so well.

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Postby Al Mo » Fri Oct 31, 2008 5:49 pm

Excellent advice Dragon! Once I go live, I will be certain to do this :)

Al Mo
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Woo hoo! Doubled the account!!!

Postby Al Mo » Fri Oct 31, 2008 6:16 pm

Ironically, the last 5 bux was the hardest to nail, but I finally did it!


Thank you once again TRO!
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Re: Holy crap TRO....I think I finally got it!

Postby 4stroke » Fri Oct 31, 2008 6:24 pm

Al Mo wrote:Folks, work at this....read, read read, try try try...rinse and repeat.

Today might be a total luck day for me, but I have a distinct feeling that I have finally arrived.

I no longer need TRO's indicators - I SEE THE TREND. TRO has opened my eyes :)

Enclosing my trades for today - new demo account opened THIS MORNING!!!

Everything TRO, Dragon, xmess, and et al have been saying works....

Stick to it

-Al Mo

**edited to include the trades....found out the hard way I cannot post .htm files , the MT4 default for reports :( ****



nice trading Mo !!
so u don't use anything at all ?
could u please post a chart ?thx
btw, what broker are u using

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