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illuminatedMind
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Postby illuminatedMind » Mon Nov 10, 2008 8:04 pm

hey tro
the training wheel seem not to be working nothing appear
I Only exist for those who seek me...

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ipannapi
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Postby ipannapi » Mon Nov 10, 2008 8:33 pm

try to throw all ur indicator..
then u will see..
ok.. maybe not all.. but some.. the training wheel is deep under..

p/s: any programmer willing to help me to put sound alert?
its a best mcd (12,26,9) if it could alert me when it cross..
thanx in advance
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Sooner
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Postby Sooner » Mon Nov 10, 2008 9:06 pm

This is an H1 chart of the EURJPY for today and my focus has simply been on SEEING the price and determining which way it is moving. We can all see that the candle is red or the candle is green but that is not always indicative of the price movement at that moment.



Now based on H1 we know the following:
Overall price is trending down and has been since the sunday open for the most part
We should only be trading short
There has been a strong run of long red bars recently

So how do I make this work for me from a scalping perspective? Lets move down to M5 and take a look.


Each of the long moves you see here on the green bars were fairly slow. The price would climb and retreat, then climb some more, while it did go up, the going was tough and the move did not last long as it always gave back at least part of the previous gain on the next 1-3 bars.

So we know we want to go short, so on the M5 chart you have 14 different opportunities to go short after seeing the price stall out. In most cases each of these short bars fluctuated between their mid point and lows several times during the 5 minute period that the bar was open, allowing more than one opportunity to scalp 5-8 pips from the same bar a number of times.

While I don't think this can be done across multiple pairs without multiple monitors, if you can get a feel for what one single pair is doing and you follow the H1 rule, there are dozens of scalping opportunities during just about any time frame that could result in some nice pip gains.

I have also taken to moving my windows around so that I can only SEE the last two bars on M5 which allows for less interference in seeing what the price is actually doing.

xmess7
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Postby xmess7 » Mon Nov 10, 2008 10:15 pm

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.

Shane
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Postby Shane » Mon Nov 10, 2008 10:26 pm

illuminatedMind wrote:hey tro
the training wheel seem not to be working nothing appear


Hey IM

Try resetting the X and Y offset inputs to 0 in the indicator properties box.

This will display the indicator (probably the word "WAIT") in the top left corner of the chart.

hope this helps
"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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Postby marcromero » Tue Nov 11, 2008 2:00 am

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.

Allrasfx
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Postby Allrasfx » Tue Nov 11, 2008 5:30 am

Hello to all of you

This is a very interesting thread you have going here and I would very much like to join in.
I am 38 years old and from Denmark but at the moment I am on vacation in Thailand.

Unfortunately I have limited access to the internet a the moment and the connection is very slow.

For the last 3 days I have been trying to read through the post bought here and on babypips but it is
really not so easy when your internet speed is the same as dial op.

How ever I have tried the best I can and here is what I think I learned so far.


I have TRO_DYNAMIC_FIBS_SR with a bar setting of 21 and TRO_Multi_Meter_CandleColor loaded on a 5 min. chart.

We are looking for 3 different chart/price trading setups: Bounce trade, Breakout trade and Buzzard trade.


Bounce trade:

For a short trade i will wait for the price to be near the resistance line.
I will enter the trade on a bearish candle if the 1h candle is red.

For a long trade I will wait for the price to be near the support line.
I will enter the trade on a bullish candle if the 1h candle is green.

I am a little confused about when exactly to enter the trade

Do you only wait for a bearish/bullish candle and the color of the 1h candle to match or do you also wait for the price to
pass the pivot point of the candle that touches the resistance line? Do you look for it to penetrate the nearest fibo line?


Breakout trade:

If the support line gets penetrated by price on a bearish candle and the 1h candle is red i will go short

If the resistance line gets penetrated by price on a bullish candle and the 1h candle is green i will go long

Again I am a little confused about when to take the trade.

Are you looking for the last 4 candles high/low for resistance/support or are you using the line plotted by the indicator?


Buzzard trade:

After 3 candles of same color be ready to enter a possible reversal on the 4th candle

Do you wait for the forming candle to pass the latest candle pivot point before entering a trade?


I also tried to trade a little on the eur/usd yesterday. My computer skills are not so good but I will try to upload some pictures later.


Thank you all for this thread

Regards

Allan

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dragon33
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Postby dragon33 » Tue Nov 11, 2008 11:15 am

Allrasfx wrote:Hello to all of you

This is a very interesting thread you have going here and I would very much like to join in.
I am 38 years old and from Denmark but at the moment I am on vacation in Thailand.

Unfortunately I have limited access to the internet a the moment and the connection is very slow.

For the last 3 days I have been trying to read through the post bought here and on babypips but it is
really not so easy when your internet speed is the same as dial op.

How ever I have tried the best I can and here is what I think I learned so far.


I have TRO_DYNAMIC_FIBS_SR with a bar setting of 21 and TRO_Multi_Meter_CandleColor loaded on a 5 min. chart.

We are looking for 3 different chart/price trading setups: Bounce trade, Breakout trade and Buzzard trade.


Bounce trade:

For a short trade i will wait for the price to be near the resistance line.
I will enter the trade on a bearish candle if the 1h candle is red.

For a long trade I will wait for the price to be near the support line.
I will enter the trade on a bullish candle if the 1h candle is green.

I am a little confused about when exactly to enter the trade

Do you only wait for a bearish/bullish candle and the color of the 1h candle to match or do you also wait for the price to
pass the pivot point of the candle that touches the resistance line? Do you look for it to penetrate the nearest fibo line?


Breakout trade:

If the support line gets penetrated by price on a bearish candle and the 1h candle is red i will go short

If the resistance line gets penetrated by price on a bullish candle and the 1h candle is green i will go long

Again I am a little confused about when to take the trade.

Are you looking for the last 4 candles high/low for resistance/support or are you using the line plotted by the indicator?


Buzzard trade:

After 3 candles of same color be ready to enter a possible reversal on the 4th candle

Do you wait for the forming candle to pass the latest candle pivot point before entering a trade?


I also tried to trade a little on the eur/usd yesterday. My computer skills are not so good but I will try to upload some pictures later.


Thank you all for this thread

Regards

Allan


Welcome Allrasfx! You can ask as many questions you like. For us it is important to show picture so we can give comments on what you are doing.

Do you only wait for a bearish/bullish candle and the color of the 1h candle to match or do you also wait for the price to
pass the pivot point of the candle that touches the resistance line? Do you look for it to penetrate the nearest fibo line?


You can use the go short or long line to get in! On the TRO dynamic fibs SR are those lines the pivot points of the candles that causes the sup or res! You don't have to wait to pass those lines. How longer you wait the less pips you will get. In the beginning it is try and error but after a while you will see how it works!

If the support line gets penetrated by price on a bearish candle and the 1h candle is red i will go short

If the resistance line gets penetrated by price on a bullish candle and the 1h candle is green i will go long

Again I am a little confused about when to take the trade.

Are you looking for the last 4 candles high/low for resistance/support or are you using the line plotted by the indicator?



Don't confuse the buzzard with the sup res strategy. You can mix them but in the beginning it is important to stick to one of them. If you take a break entry you have to be ready to get out asap. There is a possibility it is just another testing of that area!

Buzzard trade:

After 3 candles of same color be ready to enter a possible reversal on the 4th candle

Do you wait for the forming candle to pass the latest candle pivot point before entering a trade?


You have to enter on the candle color. Anybody correct me if i'm wrong, i don't use this way of trading!

To upload a picture you can use this http://www.tinypic.com/
If you are using MT4 you can take a picture in the upper left corner under folder. There is an option to save the current image as a picture. That picture you have to upload with the url above. you can't miss how it works!

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TheRumpledOne
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Postby TheRumpledOne » Tue Nov 11, 2008 11:34 am

"On the TRO dynamic fibs SR are those lines the pivot points of the candles that causes the sup or res! You don't have to wait to pass those lines. "

That's NOT correct.

The trigger lines on TRO DYNAMIC FIBS SR are calculated by using the INPUTS.

On the TRO SR RR, the trigger lines are the pivot of the candle making the new Highest High or Lowest Low for the number of bars used.
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 12:49 pm

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.

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