Never Lose Again

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razorboy
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Postby razorboy » Sat Nov 08, 2008 6:06 pm

I think part of the problem is that people may be trying to walk before they can run using this approach to trading.

First you need to learn when to wait and when to pull the trigger.

Then, if you want to stay in for more than a few pips, more than likely you need to be able to stomach some draw down. It is one thing to jump on an early trend with a practice account and ride a few waves, it is another to do it with real money on the line.

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TheRumpledOne
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Postby TheRumpledOne » Sun Nov 09, 2008 12:26 am

Image

Simple indicator that plots the High and the Low for the period(s) selected.

Chart shows current and previous high and low for the day, week, month and current high/low for the H1.

But you can SEE how price act at/near those levels.
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.

daedalus
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Postby daedalus » Sun Nov 09, 2008 2:05 am

TheRumpledOne wrote:DO YOU SEE IT?

Some people are NOT wanting to take the time to LEARN TO SEE PRICE and what PRICE IS DOING. They want a step-by-step method.

...Also, thanks for illustrating the meat and potatoes of one of the setups... much better than the pseudo zen wisdom in the past 200 pages IMHO.


These people won't be able to SEE for themselves. They will only be able to PARROT back what they have been taught. Kind of like trained monkeys. They are BLIND. If something CHANGES they can't SEE what changed and wind up STUMBLING along, bumping into or tripping over things that are right in front of them.

When you learn to SEE, you'll never be fooled. You won't need anything or anyone to tell you what to do. YOU'LL KNOW IT!

The market is DYNAMIC - PRICE IS MOVING UP OR DOWN. It is up to YOU to properly identify which way PRICE is moving. If you are accurate when you enter a trade then you'll profit otherwise you'll lose.

You can also ANTICIPATE what price will do. From STATISTICS, we know that if we have 3 or more like colored candles in a row, price is likely to reverse and that gives us an "edge".

But you can also look at a chart and see previous highs and lows and ANTICIPATE a reversal at those levels.

NOW, DO YOU SEE IT?

P.S. Feel free to copy/paste this on BabyPips.


Is it so bad for people to want a step by step method? To suggest its not possible because we "don't see it" somehow suggests that we are incapable of making money?

As you once told me in your chat room... there is more than one way to skin a cat.

Yes I like structure. Yes I like rules. But you build the same stuff into your method do you not? You exploit statistics? Price does one thing, you prepare to do something else. Price has made 3 bars in the same color, you prepare to make an entry. THATS ALL I WANTED TO HEAR. Thats all I wanted layed out. Would it be so hard to let the ego deflate a bit and say "look for this, prepare to do that, repeat and be happy"?

What I didn't expect was to be called a blind parrot that has the mental capability of a monkey.

The internet may be a fantastic way to communicate but it leaves open the possibility of things getting lost in translation. Forgive me for wanting a more concrete answer to a question than someone posting "do you see it" repeatedly and me being left with the question of whether or not I did in fact see it... :?

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Postby BlowFish » Sun Nov 09, 2008 12:09 pm

I like the direction this thread has taken. I think if people spent a wee bit of time identifying potential areas of S/R simply by looking at a chart and drawing lines manually it would not be long before they could 'see' for themselves. TRO's indicators are a double edged sword, they will help those that look but provide a reason not to look for others. Similarly with learning to see if price is going up or down when it hits lines of interest. If you can't see that then no traffic light or heatmap or slot machine is going to tell you with any confidence.

I have kept an eye on Averys stuff here at Kreslik for years. I heard about the baby pips thread and thought I would go and check out why he keeps getting banned (as an aside I could see absolutely no reason though I guess the thread has been cleaned up a bit). Anyway in the process of reading that whole thread (twice I might add) I finally think I can really see where he is coming from. Some of the things can seem a bit esoteric or even vague but you can see he is trying to get you to see for yourself. There are several great (free) sources for 'price action' information on the internet if you prefer a more 1,2,3 bullet point type approach. I am not sure its appropriate to post links here.

I was going to write a bit about what I got out of theses threads but that's probably enough for one post.

BlowFish
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Postby BlowFish » Sun Nov 09, 2008 12:15 pm

Heres a little tidbit from Eddie Toppels book

To see things as they are and not the way you want them to be requires good
vision and a reasonable intellect. Actually, it is better if we have no intellect
working at all. This test will illustrate what it takes to be a success using a Zen
approach to the market.
Start with the vision test. Keep this page at a reasonable distance from your nose.
Now read aloud the following numbers:
27 28 29
Did you say twenty-seven, twenty-eight, and twenty-nine? Brilliant! Youíve passed
the second-hardest part of doing well in the market.
Now for the hardest part. Look again at the numbers and say out loud the number
that is the highest. Now say the lowest. Which number is between both numbers?
Did you say that twenty-seven was the lowest and that twenty-nine was the
highest? If you also said that twenty-eight was in the middle, then youíve passed
the test with flying colors! You are on your way to being very successful in the
markets. You may be laughing, but I am dead serious. If it really is that
simple to recognize what the market is saying at all times, why do you have to
complicate it?

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BlowFish
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Postby BlowFish » Sun Nov 09, 2008 12:32 pm

Heres the chart I worked off last week. Lines where all hand drawn on the chart I think most from before the week started. I do scalp but pay attention from where price is moving from on this chart. No indicators just hand drawn lines. I'm trying to train myself to hold a bit longer based on this chart, I am a pirate at heart and I find it difficult tbh :D

Sorry chart was resized had to attach it rather than insert it.
Attachments
jpy.gif
jpy.gif (31.15 KiB) Viewed 2194 times

illuminatedMind
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Postby illuminatedMind » Sun Nov 09, 2008 11:25 pm

how do i make it work the training wheels indicator, nothing appears beside of **tro training wheels** at the bottom right
I Only exist for those who seek me...

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Postby marcromero » Mon Nov 10, 2008 3:20 am

I'm still trying to figure out how to use limit orders to enter reverse trades any advice would be helpful

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Postby xmess7 » Mon Nov 10, 2008 7:42 am

Folks:
Thank you all for your comments and feedback on the indi I posted earlier.

To recap:
I will make the SudoFib calculate the fibs automatically.
I will add that manual Fibo feature. Users can place their on fib levels.
Plus, I want to spruce up the text a bit, more color, more noticeable etc.

I don't know when I will get around to it cause right now I am using it and getting PIPS LOL. But I will... just got 130pips on a couple of Fib crossings.
Done for the nite.

Take it easy.
Jess

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dragon33
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Postby dragon33 » Mon Nov 10, 2008 11:24 am

marcromero wrote:I'm still trying to figure out how to use limit orders to enter reverse trades any advice would be helpful


Which broker do you use?

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