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TheRumpledOne
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Postby TheRumpledOne » Thu Nov 13, 2008 12:58 am

Image

Using GRAY BARS allows you to SEE where support/resistance levels are based on the highs/lows.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Shane
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Postby Shane » Thu Nov 13, 2008 1:09 am

Thank you all for your comments, I really do appreciate it.

I was a bit frustrated yesterday, but I feel a bit better after a good night sleep.
I know that I am the problem - not the method. I think I just need to take a break for a while and 'go within' to sort out some of the mess.

Thanks again guys
"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 pierre23 » Thu Nov 13, 2008 1:58 am

Can I ask how you read the pivot multimeter? What do the different colours mean?

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Postby marcromero » Thu Nov 13, 2008 2:03 am

Which indocator are you using? I'm reffering to the one that says in at green out at red. Thanks


pierre23 wrote:Image
Just trading on the lines IN the direction of CANDLE COLOUR. Quick 43pips in less than 10mins.

Tro, in regard to the training wheels, in what condition will it turn from "wait" to "only trade long" or "only trade short"? The trade I took just then it indicated "wait" but I could see price was going up so took the trade anyway.

Is the training wheels based on the buzzard strategy? So after 3 consecutive colours it will change to trade only long/short?

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Postby Shane » Thu Nov 13, 2008 2:11 am

TheRumpledOne wrote:Image

SEE GREEN CANDLE.

SEE GREEN CANDLE AT 0.6375

GO LONG.

SEE PROFIT.

DO YOU SEE A PATTERN?


If this was all that was required then yes...it would be easy.

I have no issue with the entry TRO (you have supplied numerous indicators and methods that show this). It is how to manage the trade AFTER THE ENTRY IS TAKEN - this is an extremely important topic (perhaps more so than the entry) yet there has been precious little attention paid to it on the NLA threads.
What about stops/drawdown?
What about risk/reward ratios?

You speak of seeing the profits, but how far down will you let it go before you say enough - this trade failed and I am out?

It's so easy to show a green hour bar crossing a price level whether it be random, psychological, or whatever, and say "DO YOU SEE IT" "DO YOU SEE IT" but what you cannot see is the price action inside that big green/red candle.

In this example, price barely broke the .6375 level, turned down for 12 pips drawdown and only then it went into profit. I have read in some posts that you like to use a 7 pip stop....Does not then "SEE PROFIT" becomes "SEE LOSS"?

TRO, I certainly mean you no disrespect, I am just really having trouble with this part of my trading.
Last edited by Shane on Thu Nov 13, 2008 2:14 am, edited 2 times in total.
"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 pierre23 » Thu Nov 13, 2008 2:12 am

lol, that's not an indicator. I plotted the red and green lines, also the text. To show where I entered and closed the trade.

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Postby TheRumpledOne » Thu Nov 13, 2008 2:16 am

Image

You might want to say, "I went long at 0.6425 because the H1 candle was green and lost".

But if you really look, the LONG ENTRY was back at 0.6375 when price reversed... green H1 candle after 2 red H1 candles.

You have to use a little common sense when trading. PRICE is NOT going to continue in one direction forever. If price has already moved 50 pips or more in the direction you want to trade BEFORE you enter, you may have missed the boat.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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marcromero
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Postby marcromero » Thu Nov 13, 2008 2:42 am

pierre23 wrote:lol, that's not an indicator. I plotted the red and green lines, also the text. To show where I entered and closed the trade.


O ok thanks.


Can someone please tell me the name of the indicator with the gray horizotal lines. I don't remember which one it is. Duh

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Postby pierre23 » Thu Nov 13, 2008 2:47 am

I just used the sweet spot gold indicator and changed the colours to grey.

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Postby xmess7 » Thu Nov 13, 2008 3:00 am

pierre23 wrote:I just used the sweet spot gold indicator and changed the colours to grey.


Dude I started using the horizontal lines today.
I did a similar thing like the FIBS I was using.

I added the CustomCandle indi just to see if I could follow the H1 thingy.
Sometimes I did, sometimes I didn't. It was interesting to really see how PRICE doesn't "care". She's a biatch LOL.

Man, it was a crazy day.

Today, I estimate 780 pips... in several hours .. from $2.5 to $3.1 per pip.
I estimate cause when I trade I don't pay attention to the account. balance
All I pay attention is to the moment.

Kewl Krazy stuff.

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