Never Lose Again

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TheRumpledOne
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Postby TheRumpledOne » Sat Nov 15, 2008 12:00 am

Image

Looking to see if there could be an "edge" in know if an hour bar has a tendency to be RED or GREEN
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Sat Nov 15, 2008 3:47 pm

Over on BabyPips, there are traders POLLUTING my NEVER LOSE AGAIN thread with talk of SQUIGGLY LINE indicators. Would someone please ask them to STOP? Let them start their own thread.

The idea is to use your own two eyes to SEE what price is doing and NOT use SQUIGGLY LINE indicators to tell you.

You can see how successful the 3 or more like colored candle in a row trade and psychological horizontal line trades have been in the charts I posted. THIS IS ALL THAT YOU NEED.

The indicators that I use show the REAL TIME STATISTICS of price or they tell me how far price has traveled in pips.

So I hope one or more of you will put the NEVER LOSE AGAIN thread on BabyPips back on course.

Thanking you in advance.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Sat Nov 15, 2008 4:02 pm

ALL YOU NEED TO TRADE IS A HORIZONTAL LINE

Image


TRADING IS SIMPLE.

There is an entire industry built around making you think it is complicated.

All you need is a HORIZONTAL LINE on your chart to be a profitable trader.

I bet you doubt me, don't you?

Go long when the price moves UP to a price ending in 00, 25, 50 or 75.

Go short when the price moves DOWN to a price ending in 00, 25, 50 or 75.

IT IS THAT SIMPLE!!

Look at the chart and see how many pips you can make when you trade with the H1 candle color.

You can do this with stocks, currencies, futures, etc.

Oh when to take profits? Where to place stops? Just DON'T BE GREEDY and use COMMON SENSE! Learn some money management.

Pick ANY candle on the chart.

1) identify the color.

2) let the candle close

3) if the next candle is NOT the same color then:

if the current candle is GREEN go LONG at the FIRST line it approaches

if the current candle is RED go SHORT at the FIRST line it approaches

When to exit? Usually, when price stalls.

Stop loss? If price crosses the previous candle's midpoint.

Does that help?

So simple.

If H1 candle closes green then on next red candle go SHORT at the line.

If H1 candle closes red then on next green candle go LONG at the line.


Be patient. Don't rush the trade.

Don't be greedy and you can rack up the pips.

Let me answer the WHIPSAW protester before they even get started.

Of course, there will be price action around the x.00 and x.50 levels. That's what we are looking for and that's the reason we trade with the color of the H1 candle rather than the M1 candle.

Just use a little risk management and money management.

Practice with 1 minilot or 0.1 minilot until you get the hang of it.

One of the things you want in trading is an "edge".

You are NOT going to win every trade.

So you want something that gives you a edge.

Casinos have edge in the range of 0.55 - 2%. That's all they need.

My statistics show this edge is much higher.

Choppy days? I love choppy days. So long as the average hourly range is over 25, that's all the edge I need. THINK ABOUT IT!!

You can look for situations where this doesn't work...

-OR-

You can wait for the setup and walk away with a handful of pips.

IT'S ALL UP TO YOU!

The best trade is waiting for the reversal.

When to get out? If you have profit, get out when you want to. You can always exit part of your position. Move stop up to breakeven and let the rest ride!

Once again, the color of the previous candle makes no difference. YOU TRADE WITH THE CURRENT CANDLE COLOR. It is that simple. Don't make this simple trading method complicated.

Once again, waiting for a reversal is the "safe" trade.

You must trade in the moment. The past is over!

All that matters is what price is doing now!!

What would you do if all you had on your chart was the current candle?

If the current candle is green would you short?

If the current candle is red would you buy?

Does this make it clearer?

This is a safe trade for the new trader.

But, whether or not you use the previous candle to decide if you are going to trade the current candle, YOU MUST FOCUS ON THE CURRENT CANDLE TO DECIDE WHICH WAY TO TRADE.
Last edited by TheRumpledOne on Sat Nov 15, 2008 5:22 pm, edited 1 time in total.
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.

marcromero
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Postby marcromero » Sat Nov 15, 2008 4:59 pm

Awesome instrunction TRO thank you very much.

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Postby ipannapi » Sat Nov 15, 2008 5:04 pm

u made it clearer now TRO..
thanx!!

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TheRumpledOne
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Postby TheRumpledOne » Sat Nov 15, 2008 5:16 pm

You're welcome.

I posted that info on BabyPips on May 13, 2008!!

HERE!
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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Postby xmess7 » Sat Nov 15, 2008 7:50 pm

TRO got a question for ya.
Please see PM.
Jess

TheRumpledOne wrote:You're welcome.

I posted that info on BabyPips on May 13, 2008!!

HERE!

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Postby marcromero » Sat Nov 15, 2008 7:53 pm

cannot get time stats indi to load properly keeps crashing my platform. anyone else have this problem? I uninstalled platform, reinstalled and it was ok till I loaded time stats indi. By the way this indi has great info thats why i want to load it successfuly

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TheRumpledOne
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Postby TheRumpledOne » Sat Nov 15, 2008 8:52 pm

Image

Just tried it on a computer with the extra digit.

Works fine.
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.

marcromero
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Postby marcromero » Sat Nov 15, 2008 9:25 pm

Ok I'll keep trying. I use IBFX they only have 4 digits, could this be a problem?

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