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razorboy
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Re: TRO Trend Lines

Postby razorboy » Thu Nov 06, 2008 1:52 am

I'm pretty oblivious most of the time. I assume that the goal here is still scalping 10 pips or so

razorboy wrote:I just installed these (i uploaded the pic)

Set the look back period to 21. Not sure if I did something wrong. Take a look at the pic.


Looking at TRO's charts - not mine here, i see the following

I assume that the idea here is to trade the current bar in the with the color of the numbers (numbers are red, so you only go short) "
DO NOT EVEN THINK ABOUT ENTERING AGAINST THE COLOR OF THE LINES UNLESS ALL LINES HAVE BEEN CROSSED."


Then the trend changed and the numbers went green, H1 went green, a new candle started, and it was time to go long.

then, as time progressed, the current candle dropped and turned red.

Obviously, the trend changed, the question is how would i have know whether and where I should or should not have gone long on this candle in this situation. Just looking at the candles themselves, without the TRO trend line, I would have probably not picked that candle to go long on as it opened above the close of the previous one, to me and indication that the trend was continuing. Although on your charts there are about 20 minutes between the time the candle was green and when it was red, that flip can happen pretty fast

Josh

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Re: TRO Trend Lines

Postby razorboy » Thu Nov 06, 2008 2:03 am

So here I go putting the tro trendlines into action. I am using a 21 period look back and the 5 minute chart.

the numbers are green. Taking TRO's command of "DO NOT EVEN THINK ABOUT ENTERING AGAINST THE COLOR OF THE LINES UNLESS ALL LINES HAVE BEEN CROSSED- tells me to go long here, but H1 is red (it is now just after 9pm and H1 is flickering green red.

What am I missing



razorboy wrote:I'm pretty oblivious most of the time. I assume that the goal here is still scalping 10 pips or so

razorboy wrote:I just installed these (i uploaded the pic)

Set the look back period to 21. Not sure if I did something wrong. Take a look at the pic.


Looking at TRO's charts - not mine here, i see the following

I assume that the idea here is to trade the current bar in the with the color of the numbers (numbers are red, so you only go short) "
DO NOT EVEN THINK ABOUT ENTERING AGAINST THE COLOR OF THE LINES UNLESS ALL LINES HAVE BEEN CROSSED."


Then the trend changed and the numbers went green, H1 went green, a new candle started, and it was time to go long.

then, as time progressed, the current candle dropped and turned red.

Obviously, the trend changed, the question is how would i have know whether and where I should or should not have gone long on this candle in this situation. Just looking at the candles themselves, without the TRO trend line, I would have probably not picked that candle to go long on as it opened above the close of the previous one, to me and indication that the trend was continuing. Although on your charts there are about 20 minutes between the time the candle was green and when it was red, that flip can happen pretty fast

Josh
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Postby Pipsun » Thu Nov 06, 2008 3:48 am

EUR/JPY short set up right now?? Im in 5m chart

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Postby Pipsun » Thu Nov 06, 2008 3:49 am

wow now im out seconds later

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Postby BlowFish » Thu Nov 06, 2008 9:40 am

Pipsun wrote:and the always trade with the H1 still applies? probably.....


This seems like a good alternative to the H1 guideline.

Thanks RO. Its funny I have been thinking precisely about this sort of thing but arther than using fixed numbers of pips having some sort of dynamic measure based on the size of previous swings. (i.e. statistics based). Something along the lines of if price retraces x amount of a swing it is likely to take out the swing altogether. Another approach I was thinking about was 'if price moves in the opposite direction more than the average range I want to take trades in the new direction'. Still toying with the idea but fixed distance might work just as well :D

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Postby BlowFish » Thu Nov 06, 2008 9:44 am

Hmm having written that it has awakened a dormant memory. I think a chandelier stop is based on this. So for a long position you would stop if price retreats more than x * ATR (average true range) from the last swing high. (from memory people use 1.5 commonly for x)

Seems to me that if price breaches that level direction has changed.

Please note no squiglies! hehe just throwing some ideas out for calculating levels.

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Postby TheRumpledOne » Thu Nov 06, 2008 2:22 pm

Image


What is the reason some of you are trying to alter and/or complicate a simple winning method?
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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TheRumpledOne
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Postby TheRumpledOne » Thu Nov 06, 2008 2:34 pm

Image


I mean, really, this trade could have netted you 75 pips.

You know, STATISTICALLY, to look for a SHORT after 3 green H1 candles in a row.

WHAT MORE DO YOU NEED?
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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Postby BlowFish » Thu Nov 06, 2008 2:44 pm

I am not sure if that is addressed at me or not Avery? On my part that was certainly not my intention, I was just suggesting that plotting the lines at distances based on the range statistics that you have gathered (average range) might be 'interesting'. Of course its not the lines that matter its how you trade them that counts :) Anyway certainly did not mean to derail things on your thread, I apologise, it was just a thought.

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Postby razorboy » Thu Nov 06, 2008 3:25 pm

I understand what you are saying, but you would only get in and stay in that trade if th hour candle is red.

Right now I havethe indicator running on my system. The numbers are red, but the current candle is green. You are oobviously not playing this candle short if you are scalping. If you did go short, maybe if you stay in, it will go your way

Previous to this run up, yes you could have made some pips on the way down

What am i missing
TheRumpledOne wrote:Image


I mean, really, this trade could have netted you 75 pips.

You know, STATISTICALLY, to look for a SHORT after 3 green H1 candles in a row.

WHAT MORE DO YOU NEED?
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