Never Lose Again

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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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Allrasfx
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Postby Allrasfx » Tue Nov 11, 2008 3:32 pm

Hello Dragon and Tro

First thank you very much for your fast reply

Dragon,

Thank you so much for the tip on how to save pictures in MT4.
I used so long time yesterday trying to take a screen dump and edit it in paint but the result was very bad.
I do not know how I miss this in MT4 - i feel stupid now :oops:

About the breakout buzzard mix up:

English is obviously not my first language :) and when I read my last post I could se what it was not so clear what i meant and that it could very easy be misunderstood, sorry about that.

I hope this picture will help illustrate what i meant to ask:






I think that I have a bacis understanding about what I need to look for in the charts for the trade setups.
My problem is that I do not sure about exatly when to enter the trades.


Tro,

I am not sure if I am using the right version of your TRO DYNAMIC FIBS SR or maybe my settings are not right.
The support/resistance lines(dots) plotted are the low/high of the last period(21) - is that correct?
Should the indicator plot bought trigger lines and support/resistance lines(dots) or does it "only" plot support/resistance lines(dots)?
Maybe I am misunderstanding or mixing things up about what this indicator plots on the chart.

Could you please help me understand this?

Thank you very much

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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 :)

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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.

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



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.

ra555
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my trade

Postby ra555 » Wed Nov 12, 2008 4:28 pm

hello;

i have read the thread of never lose again on "baby pips" , i have been trading in demo for 3 days, things were some what ok, but last night, i took a trade @13:45 est time (eur/usd) on 5 min. chart, the candle was red, also the h1 was red too, and the day was red also, i sold @1.2516 and put profit on 1.2511, but it reversed before reaching my tp and went up high, attached the picture of my chart (the candle that i shorted it has a yellow line under it with a red circle and an arrow above it).

can you please inform me what happened?, as i want to avoid such trades !

regards...
Attachments
trade.rar
(191.31 KiB) Downloaded 44 times
trade.rar
(191.31 KiB) Downloaded 51 times
trade.rar
(191.31 KiB) Downloaded 85 times
Last edited by ra555 on Wed Nov 12, 2008 5:38 pm, edited 4 times in total.

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