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TheRumpledOne
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Postby TheRumpledOne » Thu Nov 06, 2008 9:30 pm

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Thought it might be nice to know the open prices of the markets and how far price has moved.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Thu Nov 06, 2008 9:36 pm

Razorboy, you are using a tool BEFORE you learn how to use it.

You do NOT enter a LONG trade on a RED candle.

Remember, price has to cross ALL OF THE LINES BEFORE YOU ENTER THE TRADE!!

In other words, price has to drop 100 pips BEFORE you enter the reverse trade.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby razorboy » Thu Nov 06, 2008 9:43 pm

I was learning how to use it.........i wasnt playing for 10 bucks a pip.........haha ha

much thanks

TheRumpledOne wrote:Razorboy, you are using a tool BEFORE you learn how to use it.

You do NOT enter a LONG trade on a RED candle.

Remember, price has to cross ALL OF THE LINES BEFORE YOU ENTER THE TRADE!!

In other words, price has to drop 100 pips BEFORE you enter the reverse trade.

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TheRumpledOne
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Postby TheRumpledOne » Thu Nov 06, 2008 9:45 pm

deeforex wrote:TRO,

Is there a statistical reason why your TradeLines uses 25 pips as the distance? Why do you use this instead of a percentage of a given range? I'm just asking to learn.

Dee


Image

Not really a statistical reason per se.

Most currencies range over 100 pips in a 24 hour period.

Most traders find themselves on the losing side of the trade because they enter too quickly or incorrectly identify which way price is moving.

So if you wait for price to reverse 100 pips off the highest high or lowest low, that keeps you out of a potential losing trade.

You can change the 25 pips to another value, it's an input.

In the chart above, you can see price is making the LOWEST LOW of the time period and the BOXES are GREEN.

But earlier the boxes were RED to indicate do not even think about going long - keeping you from losing!!

Safe trade is to wait for price to reverse through the first line to go long.
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 9:57 pm

rcbarlow wrote:TRO,

Exactly which indicators do you have on your 1 hour charts on page 73?

Randy


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Postby marcromero » Fri Nov 07, 2008 3:55 am

What should we use for the myupper and mylower inputs in the tro tradelines indicators. Could yo uplease explain what all the inputs are for. Ive tried to change some of them just to see what they do but it seems to make no difference.

Also I'm still a little confused on how to use a limit/stop order on reverse trades. COuld someone please give me some advise on this

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Postby TheRumpledOne » Fri Nov 07, 2008 4:31 am

Actually, I need to "clean up" the code. Those inputs are not used.
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Postby pierre23 » Fri Nov 07, 2008 5:00 am

I know this trendline indi is based on the 100pip range most currencies have from the highest high/lowest low, but would it be any effective on a lower timeframe? 5min/15min?

Tro, Would you happen to know of any pip range a currency goes before reversing with statistics to back you up? Or is it really only in the higher time frames you can notice a trend of the range going at least 100pips from the highest high/lowest low before reversing within 24hours?

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Postby xmess7 » Fri Nov 07, 2008 10:19 am

Folks:
I want to share an indicator that I put together.
It encompasses 70% of what I do in my approach to the methods
that I have learned from TRO and gang.

There is a readme in the zip file. It provides a brief explanation.

I am currently using it and it does the job. I don't need to spend that much time in front of the PC other than what is necessary.

The other 30% is for you to find out. It is a combo of observations, mixing strategies like Buzzard or the breakOut when making an entry.

Anyhow, give it a try. Any questions let me know.

Jess the Mess
Attachments
xm7FibAlert.zip
(18.56 KiB) Downloaded 317 times

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TheRumpledOne
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Postby TheRumpledOne » Fri Nov 07, 2008 2:29 pm

pierre23 wrote:I know this trendline indi is based on the 100pip range most currencies have from the highest high/lowest low, but would it be any effective on a lower timeframe? 5min/15min?

Tro, Would you happen to know of any pip range a currency goes before reversing with statistics to back you up? Or is it really only in the higher time frames you can notice a trend of the range going at least 100pips from the highest high/lowest low before reversing within 24hours?



Time frame doesn't matter.. it is price based.

You guys are making this way more complicated than it needs to be.


Quit thinking so much.

SEE THE PRICE.

SEE WHICH WAY PRICE IS MOVING.

TRADE ACCORDINGLY.


SIMPLE!
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.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


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