Never Lose Again

[TheRumpledOne]

Isn't it time that TRO changed the topic name in

---->>> NEVER SEARCH AGAIN !!

Not sure what the joke is...LOL!

[brwkem]

Lately been having trouble getting limit orders filled any advice on filling orders be them buy or sell?

[TheRumpledOne]

Hit the Bid/Ask price.

[TheRumpledOne]

Some of you have been trading profitably this week.

You weekend homework assignment is to explain the DIFFERENCE THAT HAS MADE THE DIFFERENCE in your trading.

500 word essay.

Extra credit for charts.

[Al Mo]

Well....here is what TRO Dynamic SR looks like

What I started noticing was how the dots were - that was probably when I started to SEE the trend for the first time

More dots in a direction = trend....simple when I type this up, but when your learning this is not so easy to see....

when dots go flat, you know you have a situation of either Support or Resitance...



Now...remove the tool.....and try to see where the dots should be....

eventually, you will see it

easy peezy.....just takes a lot of screen time (and blowing a ton of 500 dollar demo accounts) to train your eyes.


I hope this helps
-Al Mo

I can SEE what you mean

But what do you mean by "dots go flat" are you referring to the moment when several dots of the same color are being formed?

Otherwise... it's as clear as sunshine....

Yep...you got the idea! All that's left now is giving yourself enough screen time.

[razorboy]

Here is a question for you folks

how many look back periods are you folks using for the Dynamic Fibs. I have found that using shorter periods generates more resistance and support lines and hence more trading opps.

[razorboy]

you know may be helpful and may provide more information than the standard M1, M5, M15, M30, etc multi candle indicator that TRO made up, is an indicator that shows the trend for the trailing 5, 15, 30, 60 minutes, etc,

What i have noticed is that when a new period starts, say the new 5, 30 or 60 minute, the colour of the candle often flickers back and forth, generating false buy and sell signals, even though the trend from the last time period is still probably intact, an indicator that looked at lagging periods would remove this artificiality of a temporary change in trend just because of the start of a new time period. I see this a lot at the 15 minute marks

does that make sense to anyone.

[razorboy]

Key things I have learned this week in less than 500 words, mainly by not doing the following

1. Stick to your basic rules - these are mine http://kreslik.com/forums/viewtopic.php?p=12088#12088 .
2. When you get out of a trade, you are out of it. Don't get greedy and try to get back in. You will try it one too many times and get burned...don't waste your time chasing price.
3. When you get into a trade, stay in for no more than two candles. Yes you may lose out on a few big winners, but the probabilities are not in your favor. While you can look for classic reversal patterns for your exit, remember, there is always another trade.
4. If you are playing with a FSB, play the currency with the lowest spreads. While telling people you are playing the Mexican peso vs the Thai Bhat may make for exotic cocktail conversation, the spread and lack of liquidity will kill you
5. Play with enough money so that when you screw up, it hurts, but it doesnt kill you. This should help prevent you from making stupid decisions.
6. Get consistent at making the same amount of PIPS each day and then increase your lot size to make more money

[TheRumpledOne]

"3. When you get into a trade, stay in for no more than two candles. Yes you may lose out on a few big winners, but the probabilities are not in your favor. While you can look for classic reversal patterns for your exit, remember, there is always another trade. "

STATISTICS show that more than 3 like colored candles in a row are a rare occurrence compared to 1, 2 or 3 in a row.

Good job razorboy.

A+

[razorboy]

Much thanks.........was never good in school. I also suspect that if you want to "catch" more of these big moves, set the look back period for the dynamic fib lines shorter - say 5 to 8 periods and you will be able to play the big moves with more safety.

Pretending that H1 is green and you are going long

For example, lets assume that you go with the H1 color and beyond 3 same colored candles, you will pull one that goes against you, and probably two. These one or two will take you down to a possible support fib level and you can buy back in on the next green, without having to ride those two reds down, possibly wiping out a chunk of , if not all your profit

any thoughts? Am I off base or on target. I have found that using 21 period look backs, I do a lot of sitting around, I tighten them up and i get more trades and less moves against me if I attempt to ride a long trend