TheRumpledOne Donational Indicators

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glenngie
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Postby glenngie » Mon Oct 19, 2009 2:42 pm

Admired isn't the word...Patch is in love with wicks and tails...that's all he talks about! :)

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Patch
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Worth Its Weight in Golden Pips !!!

Postby Patch » Tue Oct 20, 2009 3:41 am

noone22

I wanted to reply to your question posted earlier this morning about what is so special about the donational indi TRO2009_WICK_COUNT_UI before going to bed tonight. I remember a couple months ago as I was reading through NLA, TRO and MO were discussing a distribution table and mentioned how, if you add up the %s from from the bottom up, the sum tells your the % likelihood of being stopped out or not on a trade entry.

Now take a look at the pic below, at the distributions for each of the four time frames, looking at wicks at the top of the candles. If you trade the M1 and use 2 pips as an entry trigger, you have a 93% likelihood you will enter the trade successfully. If you use a 2 pip entry on the D1 it drops to 6%, and 94% of the time you will be stopped out for a loss. If you want a 90% plus successful entry on the M5 you need to set the entry trigger at 9pips.

Back a couple years ago, going through the $Trillion Strategy, I remember a number of complaints of being stopped out on the D1. And after the stop out, the thing took off. I don't recall what pair was being traded, but look at D1, to get a 74% successful entry without being stopped out, you need to have an entry trigger of 79 pips. Do I ever love this indicator and the insights it gives and questions it raises. This is one of many indi's that is worth its weight in pips of Gold cause the USA is bankrupt bad and quickly getting worse; and the USD is in real bad trouble around the world.

The indi also has a switch so you can look at tails and do a similar analysis.

Because markets fall much faster than they go up, I wonder if it would have an impact on our profits if we used different entry amounts for long and short entry triggers.

Wouldn't it be something to run the numbers for the Yen pairs. By the way I took these four screen shots this morning before going to work, of the GBPUSD. I don't recall the time, and I also wonder how many bars I should be looking at in this analysis.

I hope this helps and raises questions.

Patch
In VA
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2x2 matrix 4 time frames and wicks.jpg
2x2 matrix 4 time frames and wicks.jpg (55.11 KiB) Viewed 1048 times
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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noone22
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Postby noone22 » Tue Oct 20, 2009 6:31 am

I see.
Thank you, Patch.
At first glance, you cannot blindly trust
the average figures, because they're giving
results, which are averaged by everything.
Maybe, average statistics for some specific period of time
could be different.
But as some guide for maximums and minimums it could be used,
of course. Just need to to these distributions for my pairs, my
timeframes and my server times to reflect actual results more closely.

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Postby Patch » Tue Oct 20, 2009 11:56 am

noone22

You are 100% right I think, I suspect some times are much better to trade BZ and most every other strategy, when the market trends, the London, NY, Tokyo, Aussie opens. Take a nap during lunch time. You gave me an idea. I changed the bar count based on time frame to cover a 24 hour period, posted below for comparison. I want a 90% plus likelihood of not being stopped out by a forming wick.

Patch
In VA
Attachments
2x2 matrix 4 time frames and wicks-24HR.jpg
2x2 matrix 4 time frames and wicks-24HR.jpg (65.49 KiB) Viewed 1023 times
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

AR01
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Postby AR01 » Tue Oct 20, 2009 7:24 pm

TRO,
I have been lurking and reading many of the "never lose again" threads. Actually I stumbled upon you at another (not to be named) forum where you were banned. Why aren't you called TheBannedOne?

I won't be a lurker for much longer. But I am new to Forex. I noticed many individuals are using MB Trading and Metatrader 4. It appears if MBT changed MT4, according to their website. Here's the question. Is that the version I should use or should I use the one from metatrader4.com?

I will be signing up for a demo account and making a donation soon.

Andrew

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Horizon
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Postby Horizon » Tue Oct 20, 2009 8:56 pm

TheRumpledOne, (or anyone else who knows how to code),

I was wondering if I could help. I am trading / learning how to use the BZ_FDB. I have decided that I was only going to trade one currency and learn it well.. Yes, I want to be a brick layer.

Anyway, would anybody be able to modify BZ_FDB so that I can use the 5 minute chart and see what would have been the scenario in the past.
What I am hoping this could do is help me get used to how the currency responds.. training the eye and seeing which hours are best.. Help me get more confidence as a trader.
Thanks
Horizon

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Kenyuki
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Postby Kenyuki » Tue Oct 20, 2009 10:43 pm

Hello Horizon,

Horizon wrote:TheRumpledOne, (or anyone else who knows how to code),
Anyway, would anybody be able to modify BZ_FDB so that I can use the 5 minute chart and see what would have been the scenario in the past.


If you are using MetaTrader for charting then you can just switch the timeframe to M5 (= 5 min chart), and everything should work out. No further coding required :smt102

Cheers,
Ken

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TheRumpledOne
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Postby TheRumpledOne » Tue Oct 20, 2009 11:06 pm

AR01 wrote:TRO,
I have been lurking and reading many of the "never lose again" threads. Actually I stumbled upon you at another (not to be named) forum where you were banned. Why aren't you called TheBannedOne?

I won't be a lurker for much longer. But I am new to Forex. I noticed many individuals are using MB Trading and Metatrader 4. It appears if MBT changed MT4, according to their website. Here's the question. Is that the version I should use or should I use the one from metatrader4.com?

I will be signing up for a demo account and making a donation soon.

Andrew


If you are going to trade with MB Trading use a NAVIGATOR ACCOUNT.

For charting, you can use any of the FREE demo accounts that brokers offer.
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 Oct 20, 2009 11:07 pm

Horizon wrote:TheRumpledOne, (or anyone else who knows how to code),

I was wondering if I could help. I am trading / learning how to use the BZ_FDB. I have decided that I was only going to trade one currency and learn it well.. Yes, I want to be a brick layer.

Anyway, would anybody be able to modify BZ_FDB so that I can use the 5 minute chart and see what would have been the scenario in the past.
What I am hoping this could do is help me get used to how the currency responds.. training the eye and seeing which hours are best.. Help me get more confidence as a trader.
Thanks
Horizon


You can use the TRO_BZ_SKYLINE.

It's in one of the MT4 Motherlodes.
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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Horizon
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Postby Horizon » Wed Oct 21, 2009 6:25 am

Briliant!! TRO_BZ_SKYLINE is exactly what I was after. Thanks.

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