Never Lose Again

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marcromero
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Postby marcromero » Wed Nov 05, 2008 3:32 am

I know how you feel. I Guess I have not seen "IT" yet either. If you happen to see it before me please let me in on it




Shane wrote:Image

Managed to squeeze 15 pips out of a long trade this time. Could have had a lot more, but I didn't want to be too greedy trading against D1. This is really great, and I am happy about it but I just can't seem to be consistent.

I must say that I feel I haven't really seen the 'IT' that everyone constantly refers to. If I had seen IT then I would be getting comparable results. But I'm not - even after weeks of reading the threads over and over and over again, looking over all of the charts for little clues. Maybe I am just stupid and can't see the forest for the trees?

I really wish that soemone would just tell me what the "IT" is...then I could start digging myself out of this hole and put a smile back where it used to be once upon a time...

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razorboy
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Postby razorboy » Wed Nov 05, 2008 3:52 am

break it down, what are the indications you see for the trades you want to enter into.

Part of the issue with this set up is that you look to be in a ranging market - you have to be quick and not get too greedy

Shane wrote:
pierre23 wrote:Thats cool =]

But have you tried TRO's Custom Candle which is good for showing any higher time frame on a lower one? Works a charm =]

edit: it doesn't display the opening hourly price though.. if that's what you're specifically after.


Hey pierre,

I have Custom Candle, and I do use it frequently. It's a great indicator.
In this case I just wanted something very simple that didn't make my charts too 'busy' and with the option of having a price tag .

Cheers

Shane
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Postby Shane » Wed Nov 05, 2008 5:03 am

Thanks for the reply guys,

Pipsun,
At first, I was using a 'hard' stop of 20 pips but closing the trade if it looked like it was turning against me. But I kept on finding that as soon as I would close a trade before the 20 pip stop the price would turn again and go on to what would have been profit. So I started leaving more and more room for the price to wiggle until I ended up leaving a lot of trades go to the stop (or close to it).
5 pips stop seems too small....the amount of trades that go full throttle through the entry point without looking back seems very few.
I have had 3 winners in the last 2 hours, 15pips, 5 pips, and 15 pips, but if i had put on a 5 pip stop I would have lost them all.
Not really sure what to do about this - where to exit a losing trade has always been a difficult thing for me to judge.

pierre,
Yes, it is the tunnel, and yes I saw that post of dragons. I wasn't paying much attention to the tunnel at that stage because there was a lot of data missing due to alpari demo server maintenance. So that tunnel was based on incorrect data. (Actually, the first candle on the chart in my post is the first candle after the maintenance). cheers for reminding me tho :)

In any case, I have had 3 winners just today, so things are starting to look a little brighter....just hope I can remain consistent.

cheers
"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

pierre23
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Postby pierre23 » Wed Nov 05, 2008 5:13 am

Well, good luck with it, 35pips is good, some would call it a day after that. But I guess for the sake of practicing and being consistant you'd keep on going.

I'm still trying to grasp Dragons method of trading.. I'm still not quite sure I get it yet. Sorry, but what is the tunnel called? Is it one of the standard indicators?

Shane
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Postby Shane » Wed Nov 05, 2008 5:14 am

razorboy wrote:break it down, what are the indications you see for the trades you want to enter into.

Part of the issue with this set up is that you look to be in a ranging market - you have to be quick and not get too greedy

Shane wrote:
pierre23 wrote:Thats cool =]

But have you tried TRO's Custom Candle which is good for showing any higher time frame on a lower one? Works a charm =]

edit: it doesn't display the opening hourly price though.. if that's what you're specifically after.


Hey pierre,

I have Custom Candle, and I do use it frequently. It's a great indicator.
In this case I just wanted something very simple that didn't make my charts too 'busy' and with the option of having a price tag .

Cheers



Hey razor,

Here is one that I would watch (I have to go out shortly so I haven't got an order set, but it is good for an example anyway).

Image

I would have a pending sell order set at 1 pip below the blue dots.
Why?...
H1 and D1 both red,
price making lower lows,
tunnel had started sloping downward

what are your thoughts?

EDIT*****
update...EUR just broke through the blue dots for 19 pips - but I missed it due to posting :)
Last edited by Shane on Wed Nov 05, 2008 5:20 am, 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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Shane
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Postby Shane » Wed Nov 05, 2008 5:17 am

pierre23 wrote:Well, good luck with it, 35pips is good, some would call it a day after that. But I guess for the sake of practicing and being consistant you'd keep on going.

I'm still trying to grasp Dragons method of trading.. I'm still not quite sure I get it yet. Sorry, but what is the tunnel called? Is it one of the standard indicators?


It is just 2 50 period EMAs,
1 of them set using highs and the other using lows.
"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

Pipsun
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Postby Pipsun » Wed Nov 05, 2008 12:19 pm

I meant a Stop loss pips above the resistance when you sell and pips below support when you buy so it ends up being like total of 10 pip ST just my thought my max stop is 15pips

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razorboy
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Postby razorboy » Wed Nov 05, 2008 12:42 pm

Based on what I see from your screen, I would have probably made a similar placement, if I was not in the trade already.

Lately, I have been using and MA crossover in conjunction with a bounce off fib lines for an entry point, so had i been staring at the same time as you, which i may have been, I would have gotten in much earlier as that is where you can see the trend develop, but may have been against the candle color. One of the problems I have been having is that sometimes and candle will just touch my entry point then peel off in the other direction for a bit. Using the MA gives me a bit more comfort in telling if the trade is worth staying in after that point or not

Shane wrote:
razorboy wrote:break it down, what are the indications you see for the trades you want to enter into.

Part of the issue with this set up is that you look to be in a ranging market - you have to be quick and not get too greedy

Shane wrote:
pierre23 wrote:Thats cool =]

But have you tried TRO's Custom Candle which is good for showing any higher time frame on a lower one? Works a charm =]

edit: it doesn't display the opening hourly price though.. if that's what you're specifically after.


Hey pierre,

I have Custom Candle, and I do use it frequently. It's a great indicator.
In this case I just wanted something very simple that didn't make my charts too 'busy' and with the option of having a price tag .

Cheers



Hey razor,

Here is one that I would watch (I have to go out shortly so I haven't got an order set, but it is good for an example anyway).

Image

I would have a pending sell order set at 1 pip below the blue dots.
Why?...
H1 and D1 both red,
price making lower lows,
tunnel had started sloping downward

what are your thoughts?

EDIT*****
update...EUR just broke through the blue dots for 19 pips - but I missed it due to posting :)

xmess7
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Postby xmess7 » Wed Nov 05, 2008 5:28 pm

pierre23 wrote:Well, good luck with it, 35pips is good, some would call it a day after that. But I guess for the sake of practicing and being consistant you'd keep on going.

I'm still trying to grasp Dragons method of trading.. I'm still not quite sure I get it yet. Sorry, but what is the tunnel called? Is it one of the standard indicators?


It's called the Dragon Tunnel
I don't have MT4 in up but I believe it is the Simple MA50(high) and MA50(low). Please verify.... if I remember I'll send the actual detail later on.

Peace :)

EDIT: OOPS sorry someone already indicated that its's an MA(50)

xmess7
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Re: Hi 4Stroke

Postby xmess7 » Wed Nov 05, 2008 6:03 pm

Al Mo wrote:
Hi Jess,

I had the same problem...found out that you have to have the Wingdings font put in

Here are the directions (taken from the mql4 site)

FYI.
1. To show arrows and other symbols, you have to install

wingding.ttf
Simply copy that file to your windows' font folder. Usually it is

~/.wine/drive_c/windows/fonts/


I found that font on some free site via google.

As for the values - hitting 'F2' on the field *generally* works. Some things I have never been able to correct, such as being able to add "%$" on the fib retracement tool to have it return the price rather than the Fib level. It does however work for most indicators.


Al:
Thnx alot for the info. I got it working and F2 does the job. It turns out that I already had wingdings but it was in another folder, /FONTS. As you know Linux is critical on case sensitivity. The solution was to copy all the contents of /FONTS to /fonts and remove /FONTS. This also fixed the MetaEditor issue. I can now use MetaEditor to edit and compile mq4 code under Linux .

As for the %$ thingy, it works fine here. In fact it works in the several MT4 brokers I utilize. Perhaps it's the fonts that I have in place???

If interested PM me and I'll send u a zipped file containing the /font folder.

Catch ya later...

I checked and I have no problems seeing hte price values on the fibs.

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