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xmess7
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Postby xmess7 » Tue Nov 11, 2008 3:25 pm

Oh, Sorry..

For the Buzzard strategy, I place the entry at the Pivot of the previous candle. H1 seems to work best for me cause I see that the reversal usually contains good amount of PIPS to grab.

:)

marcromero wrote:
xmess7 wrote:
marcromero wrote:IBFX


Hi,
I am familiar with IBFX.

- Go to the Pair u are interested in.
- Hit F9 (new order)
- I forget the name of the pull down menu but
you will see something called "Instant Execution"
Change that to "Pending"
- Then you will be able to select the following choices
a. BUY LIMIT
b. BUY STOP
c. SELL LIMIT
d. SELL STOP
These will be visible on the next pull down. (sorry doing this from memory :).

The thing that suxx about IBFX and others is that you are restrained by the distance or number of pips you can place the LIMIT order. For IBFX it is at 10 pips minimum. Whereas in MBT you can get filled at virtually any price level.

Hope that helps.



Thanks, I guess my question should have been is how do you know where to place you limit/stop entry on a reversal trade.

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TheRumpledOne
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Postby TheRumpledOne » Tue Nov 11, 2008 7:35 pm

For TRO DYNAMIC FIBS SR use the default of 5 not 21.

Look at the inputs. That's where you turn the features on/off.
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 » Tue Nov 11, 2008 7:46 pm

BlowFish wrote:Back at the beginning of the thread, there was a chart that showed an indicator that ploted a vertical line at the various session start times. Can anyone tell me where I might I find that or is it a thank you one? I had a feeling it might be a modified one so not a thank you.


DAY BORDERS is the name of the indicator. I also posted a TRO modified version of it.
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.

BlowFish
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Postby BlowFish » Tue Nov 11, 2008 8:37 pm

Cheers, just re-read this thread and came across it. Time to scour the mother loads :)

marcromero
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Postby marcromero » Wed Nov 12, 2008 1:31 am

ok so what you are saying is that once you see 3 like candle colors you begin to look for the reversal. At this point once the candle color changes you quickly place a sell stop/buy stop order and wait for the reveral. Also I assume you only trade with the d1 color since you are using h1 chart. Is this correct or am I missing something. Also I hear alot about trading with horizontal lines. Which ones should we trade with and which do we stay away from? thanks

This Question is for Dragon:

Which strategy do you use and could you please explain what you are looking for when you enter. how do you know where to place your limit orders


xmess7 wrote:Oh, Sorry..

For the Buzzard strategy, I place the entry at the Pivot of the previous candle. H1 seems to work best for me cause I see that the reversal usually contains good amount of PIPS to grab.

:)

marcromero wrote:
xmess7 wrote:
marcromero wrote:IBFX


Hi,
I am familiar with IBFX.

- Go to the Pair u are interested in.
- Hit F9 (new order)
- I forget the name of the pull down menu but
you will see something called "Instant Execution"
Change that to "Pending"
- Then you will be able to select the following choices
a. BUY LIMIT
b. BUY STOP
c. SELL LIMIT
d. SELL STOP
These will be visible on the next pull down. (sorry doing this from memory :).

The thing that suxx about IBFX and others is that you are restrained by the distance or number of pips you can place the LIMIT order. For IBFX it is at 10 pips minimum. Whereas in MBT you can get filled at virtually any price level.

Hope that helps.



Thanks, I guess my question should have been is how do you know where to place you limit/stop entry on a reversal trade.

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marcromero
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Postby marcromero » Wed Nov 12, 2008 2:46 am

Not sure it I see "IT" yet but managed to scalp 8 pips



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Shane
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Postby Shane » Wed Nov 12, 2008 8:53 am

OK, I've had it....Obviously Dragon is using something more than what has been described in the threads - previous trading experience perhaps?

I am getting too many losing trades using this indicator...

Take this one that just happened for example:
Image

Price went up from support and crossed the alert line - I waited until the price crossed the hour open - both hour and day were pointing up. Entered 1 pip past the hour open line - then bang straight down the gurgler.

I give up :x
"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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dragon33
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Postby dragon33 » Wed Nov 12, 2008 12:38 pm

Shane wrote:OK, I've had it....Obviously Dragon is using something more than what has been described in the threads - previous trading experience perhaps?

I am getting too many losing trades using this indicator...

Take this one that just happened for example:
Image

Price went up from support and crossed the alert line - I waited until the price crossed the hour open - both hour and day were pointing up. Entered 1 pip past the hour open line - then bang straight down the gurgler.

I give up :x


Don't give up that easy. I have just trading experience for two years and that's it.
Take the last run up, that's a big one. You need to wait untill the retrace is done!
You have tried to buy when a new candle was forming. Use the rule of thumb. It will prevent you from mistake.
If you are having trobble doing what i do. Install the TRO trainingwheel. Then you only trade with H1 and D1 color and will prevent you for mistakes
Trainingwheel doesn't allow to trade the retrace.

xmess7
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Postby xmess7 » Wed Nov 12, 2008 5:10 pm

Shane:
Man don't give up! I am using your indi (SP_openline) and getting pips with it! And now you giving up? :)

One observation on the trade posted.

I would not of taken the trade in that fashion. If you look at the candles that were forming before price crossed that H1 open line they were bunched up. They were more like in a waiting state. Now since price was headed down that meant to me that I needed to wait for price to breakdown from the support. So it was a setup for a short.

Hang in there... show us some more charts before you make the trade and lets see if we can help ya a bit. Remember in the end it is YOU that has to SEE it.

Peace
Jess

Shane wrote:OK, I've had it....Obviously Dragon is using something more than what has been described in the threads - previous trading experience perhaps?

I am getting too many losing trades using this indicator...

Take this one that just happened for example:
Image

Price went up from support and crossed the alert line - I waited until the price crossed the hour open - both hour and day were pointing up. Entered 1 pip past the hour open line - then bang straight down the gurgler.

I give up :x

Al Mo
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Hey Shane, try this....

Postby Al Mo » Wed Nov 12, 2008 8:56 pm

Shane wrote:OK, I've had it....Obviously Dragon is using something more than what has been described in the threads - previous trading experience perhaps?

I am getting too many losing trades using this indicator...

Take this one that just happened for example:
Image

Price went up from support and crossed the alert line - I waited until the price crossed the hour open - both hour and day were pointing up. Entered 1 pip past the hour open line - then bang straight down the gurgler.

I give up :x



Your trade would have been successful if you had at least 1 red dot when you chose to go long. Yes , the blue dots did flatten out, and that is a clue to watch for rising highs/rising lows. You only got rising highs in your case, while the lows remained intact. You WILL miss the tops and bottoms doing it this way, but you should see an improvement in your trades , overall.

Hope that helps,

Al Mo

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