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disbellj
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Postby disbellj » Sun Nov 02, 2008 8:30 pm

TRO,

With all due respect, just found something I'd like to bring to your attention. I do like what you've done to help improve the dragon33 money management indicator for the users (since obviously dragon33 already knows what he's doing, this is more to help the new users of the indicator that are hoping to get their money management under control).

Having said that, when I change the myLotValue input to 1000, tickvalue displays as being $10.0000 (10 dollars). When I change the myLotValue input to 100000, tickvalue displays as being $0.1000 (10 cents). This isn't correct, is it? Shouldn't they be the other way around? This throws other calculations off it appears.

If you don't want to check it before giving to the users, and don't want me to check it, who will?

Hopefully you see I'm doing this for the users. The end result is an easy calculation of number of lots for the user, and who wouldn't want that? I just am the type to make sure it's right, so I test and ask questions, and give input on the few things I do know about. And hopefully it's the users that benefit. It's cool with me that you make the changes in DRAGON indicator instead of me making them in DON indicator (although I've just eited previous posts to make sure there is only one version of mine, and the version has all changes I am going to make I'm pretty sure), but I'm just trying to make sure it's right.

I hope we can BOTH get past EGO, and see that the INDICATORS being right are more important that EITHER OF US being right.

Respectfully,

Don


TheRumpledOne wrote:Hey Don, you need to SETTLE DOWN. You need to FULLY UNDERSTAND what is going on BEFORE you start making changes. Your ASSUMPTIONS are incorrect. Best thing for you to do is focus on your OWN PORTFOLIO and TRADING. Dragon has made over 1000% in his account in 8 weeks. When you do that, then you'll have people listening to you.

I coded the indicator EXACTLY the way Dragon described his formula.



Here is my money management. The strategy i use to make a lot of money.
I know you guys buy and sell mini,micro and maybe standard lots.

My platform is much easier. I already posted a few times my platform screen.

The only thing i have to do is push buy or sell, that's it. I can set SL and TP and that is all i can do.

If you have practiced whatever strategy, you have to do some calculations. I am going to tell you my calculation for the TRO DYNAMIC SR strategy. I am able to make a lot of trades in short times, i have shown you.
My average SL is 20 pip. I can NOT make (i believe in myself)10 losers in a row. I take 10 times 20 pips is my max drawdown. That would be 200 pip.
Take that number and multiply by two=400. Then you take your pipvalue. Let's take 1euro (Euro zone). Now you have your starting money.

Start with 400 eur. When you lose 10 times in a row what i think it is impossible, then you still have the half of your money.

This is the best part. Every time you score 400 pip you raise your pipvalue with 1 and so on and on. So you will be able to play with 10000 euro with a pipvalue of 50 euro. If you can manage what i do you are able to make 25000 euro with just 500 pips. I have shown you can do that in just a few days. It is not luck, you have to SEE what TRO learned me to SEE.

I know some people are talking about money management and the 2% rule. I told you before if you know how to handle things and you have enough back up to believe in yourself you can create your own rules. I mean trading must working for you if not keep practicing until you do.

This method is about in and out the market as quick as you can. Other methods can't have my management rule because you will be wiped as quick as you start trading. This is working for me. If you try it it is at your own risk. The most important thing is that when you are losing: cut off asap.

This is how it will look in numbers and when you don't lose.
start 400 gain 400 pipvalue 1euro
800 400 2
1200 400 3
and so on.

About my SL. Most of it i trade without BUT i use a disaster and that is the one i set and is 50 pip. But when the market is against you and the bigger picture is not wright then i close my trade manual around -20 pip. Always put a disaster SL because when you have whatever problem you can whipped out very quick.

-Dragon


Don, please do NOT name indicators that you wrote or modify "TRO_". Name them "DON_". I do NOT want credit or blame for your work. Thanks for your cooperation.

I STRONGLY SUGGEST THAT TRADERS FOLLOW DRAGON'S MONEY MANAGEMENT.

Don, you were reading my mind when you installed the switch to use the actual account balance. I added that update.

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disbellj
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Postby disbellj » Sun Nov 02, 2008 8:36 pm

TRO,

Here you go again trying to do something just for dumb little ol' me, huh? Well, maybe you should read my last post before going and making changes to an indicator that needs stuff fixed in it before adding anything.

For the end users sake, not mine (since I, like dragon33, and I'm sure you, know the money management we use, without an indicator).

Respectfully,

Don


TheRumpledOne wrote:Image

disbellj wrote:I understand now dragon.

30 in your pic is saying 30 mini lots. This correlates to way MBT Navigator displays mini lots.

If putting in your order on MT4, a user could assume it means 30 standard lots, since 30.00 is 30 standard lots in MT4, not 30 mini lots.

I have no problem, now knowing this. I still think it's good that it has been pointed out the difference between MBT Navigator display of mini lot (1.0) vs. MT4 display of mini lot (0.10). Now a user can use whichever one they want to. If putting in orders in MT4, I would recommend mine. If putting orders in MBT Navigator, one would have to know they are risking 5% of their account, since it's not listed anywhere, but they would probably be more comfortable with the decimal placement of TRO's indicator he made for you, since the decimal places match MBT Navigator and not MT4.

Don


Don:

Perhaps you didn't see the revised indicator.

There's an input for Lot Value. You can enter 100,000 or 10,000 or 1,000.
Now that value displays... I did that just for you, Don.

So, you can use TRO DRAGON MONEY MANAGEMENT for whatever broker you're using.

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TheRumpledOne
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Postby TheRumpledOne » Sun Nov 02, 2008 9:25 pm

Image

Image

Image

I fixed the bug, Don.

No ego involved on my end.

If something is inaccurate, I fix it.
Attachments
TRO_DRAGON_MONEY_MGMT.zip
(7.76 KiB) Downloaded 209 times
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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disbellj
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Postby disbellj » Sun Nov 02, 2008 9:49 pm

TRO,

That's very good. Thank you.

I would submit only one request:

You see how we have TickValue? We know that TickValue assumes one lot of contract size (Lot Value).

I request that a new line be added at bottom to give the actual pip value, given the number of lots that are recommended. For instance, when I choose 1000 as the Lot Value (meaning a micro lot), it tells me 10.00 (meaning 10 micro lots). Since we know that 10 micro lots equal $1/pip (the same as 1 mini lot) instead of $0.10/pip (1 micro lot pip value), then the Actual Pip Value would take the number of lots into account, and give the user their actual pip value if they trade the recommended number of lots.

Just a suggestion to improve and put the final touches on the DRAGON money management indicator, which I do now consider to be better than mine since you can choose Lot Value like has been requested by another user (when they asked me how they could change Pip Value, which is directly related to what you call Lot Value, in my indicator, which they can't change, but now can change in yours, and it is correct).

In fact, I see that since you round things off, there is no need for any decimal places next to Lot Size (what I refer to as number of lots in conversation). If Lot Value is 1000, then Lot Size whole number (whatever it is) would be micro lot. If Lot Value is 10000, then Lot Size whole number (whatever it is) would be mini lot. If Lot Value is 100000 or above, then Lot Size whole number (whatever it is) would be standard lot. (It could even be easily programmed to display Micro Lot(s), Mini Lot(s), or Standard Lot(s) to the right of Lot Size result).

Thank you,

Don


TheRumpledOne wrote:
I fixed the bug, Don.

No ego involved on my end.

If something is inaccurate, I fix it.

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Postby TheRumpledOne » Sun Nov 02, 2008 10:22 pm

Image

Added $/Pip line to the display
Attachments
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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Sun Nov 02, 2008 10:24 pm

Image

I put the RULES OF THUMB right on my chart.
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Postby marcromero » Mon Nov 03, 2008 12:37 am

ok I've read all the post. this system makes lots of sense but I still went from a 4k account to less than $200. I'm using ibfx and I know I should not be with a FSB but at this point have no more funds to switch. I'm having problems on where and how to place these limit order. I count the bars 3 green then look for short or 3 red then look for long but I seem to be getting in at the wrong time. If I want to go short do I place a limit order above the red bar and hope that it hits this and go back down. I'm real confused please help.

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Postby dragon33 » Mon Nov 03, 2008 6:39 am

marcromero wrote:ok I've read all the post. this system makes lots of sense but I still went from a 4k account to less than $200. I'm using ibfx and I know I should not be with a FSB but at this point have no more funds to switch. I'm having problems on where and how to place these limit order. I count the bars 3 green then look for short or 3 red then look for long but I seem to be getting in at the wrong time. If I want to go short do I place a limit order above the red bar and hope that it hits this and go back down. I'm real confused please help.


I am not using this system but you can download the rule of thumb and you just need to enter at the sup or res line and follow the rules. This is downloadable a few posts earlier!

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Postby xmess7 » Mon Nov 03, 2008 8:04 am

marcromero wrote:ok I've read all the post. this system makes lots of sense but I still went from a 4k account to less than $200. I'm using ibfx and I know I should not be with a FSB but at this point have no more funds to switch. I'm having problems on where and how to place these limit order. I count the bars 3 green then look for short or 3 red then look for long but I seem to be getting in at the wrong time. If I want to go short do I place a limit order above the red bar and hope that it hits this and go back down. I'm real confused please help.


On the 4th candle enter the pivot of the previous 3rd candle.
pivot = (Hi + low + Close ) /3

Plus, once u get some profit (3-7pips) GET OUT. Later on when u have more experience you can go for more.

Hang in there.

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Postby BlowFish » Mon Nov 03, 2008 8:29 am

TRO Wrote:-
________________________________________________________________
Using a 3 period "look back", you will see the breakouts BECAUSE, we know from STATISTICS that 2 and 3 bars of the same color in a row is a likely occurrence where 4 or more in a row are less likely.

If bar 2 is pushing against support/resistance, then it is likely to continue moving in that direction.

UNDERSTAND?
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++

To be honest I am having trouble understanding that. Most of the charts I have seen the most common occurrence (by far) is one bar of the same colour. If you have a green bar the most likely next bar will be red. Unless I am mis understanding the presentation of the stats, which is entirely possible :D

To take a break out long, based on that information, I would want to see a red bar at resistance knowing from the stats that green bars follow red bars more than they do other green bars.

2 bars in a row is unlikely 3 more so, this is why the 3+bar reversal trade works (like a dream). I can't help feel that there is something not right using this same criteria to take a trade in the same direction.

Edit: put another way the more bars the same colour the more likely a reversal. The fewer bars the same colour the more likely continuation through the S/R. One is the fewest number of bar(s) you can get in the same direction.

I'm :smt119 confused :smt119 (which I recall you saying is a good thing over at the BP thread as it means your thinking is being challenged).

Oh just one more thing (as Columbo might say). In a sequence of 3 green bars in a row is that also counted as 2 green bars?....I am thinking yes it is.

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