TRO TRADING VIDEOS

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TheRumpledOne
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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Mon Mar 09, 2020 1:23 am

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Mon Mar 09, 2020 1:24 am

Night Owl Trader wrote:Hi TRO, I would like to make a suggestion here.... Can you include "template name" in the input setting for TRO_2017_DASHBOARD... this way ...when you click on the currency pair it takes you to the chart with specific template loaded on that MT4 chart. it would nice to include that in your next update


I am not sure MT4 code can do that.
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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Mon Mar 09, 2020 5:31 pm

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Mon Mar 09, 2020 7:38 pm

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Re: TRO TRADING VIDEOS

Postby Jhx » Tue Mar 10, 2020 4:52 am

TheRumpledOne wrote:

The part at 4:58 really resonated with me...

"If that was your target and you didn't exit out of that trade you may have given it all back and maybe even stopped out.
So, part of the problem when looking at risk:reward, is most people think of it as a static, in other words, your entry to your TP, and then your entry to your stop loss. But trading isn't static, it doesn't just go from one spot to the other, it moves. And it usually wiggles or moves up and down."

"And the point I'm trying to make is that as that price is moving towards your TP in your favor, that money between your entry point and the current price, that's your money."


The 'static' thing got me thinking. I mean, I can look at stats and frequency distributions and my mind is at ease knowing that at least the opportunity lies within there. So entries are good.

But the exits... They still seem like a black box to me, whether they work out or not, I'm pulling them out of a hat in some way. I could look at stats but not in the same way as the entries. And I think it's because of that. Entries are static, but exits are not, and entries do not account for a lot of things that exits might and that are much harder to "quantify".

At the end of the day, trade management at its core is just asking constantly "how far am I willing to let price go back before I close this trade" whether the trade is in profit or not (because even if you let it run, very rarely it'll be at an exact high or low). Of course, anything can happen, but I still don't know where the edge in the exit lies or what to truly look for. If I have to be honest, I'm still spinning my wheels on that one.

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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Tue Mar 10, 2020 6:27 pm

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Tue Mar 10, 2020 6:42 pm

Jhx wrote:But the exits... They still seem like a black box to me, whether they work out or not, I'm pulling them out of a hat in some way. I could look at stats but not in the same way as the entries. And I think it's because of that. Entries are static, but exits are not, and entries do not account for a lot of things that exits might and that are much harder to "quantify".

At the end of the day, trade management at its core is just asking constantly "how far am I willing to let price go back before I close this trade" whether the trade is in profit or not (because even if you let it run, very rarely it'll be at an exact high or low). Of course, anything can happen, but I still don't know where the edge in the exit lies or what to truly look for. If I have to be honest, I'm still spinning my wheels on that one.



EXIT PLAY BOOK. I attached mine. You have to make YOUR OWN. DO NOT ATTEMPT TO USE MINE!! It is for EDUCATIONAL PURPOSES ONLY!!

You need to list the conditions when you will exit. No need to spin wheels at all.

With the WALMAL METHOD, it is designed to SCALP and NOT "catch the wave". You take 3 to 5 pips and you are DONE!

Of course, you can choose to scale out of a trade but that is not the WALMAL METHOD.
Attachments
FOREX EXIT PLAY BOOK.pdf
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Re: TRO TRADING VIDEOS

Postby photize » Wed Mar 11, 2020 7:53 am

Jhx wrote:[

At the end of the day, trade management at its core is just asking constantly "how far am I willing to let price go back before I close this trade" whether the trade is in profit or not (because even if you let it run, very rarely it'll be at an exact high or low). Of course, anything can happen, but I still don't know where the edge in the exit lies or what to truly look for. If I have to be honest, I'm still spinning my wheels on that one.


Just to mention, logically outs are easy to control. If you have a R:R of 1:3 and you are approaching target say its 6 pips away you should be risking 2 pips!
Its that simple.

Manually just follow the closest 00 line can work on swing trades or a simple 1 or 2 candle/ or 2x atr of last 5 candles, whilst picking a timeframe you can tolerate, even going down in TF as the target aproaches.

There are a number of dynamic trailing stop EA that can follow that rule with adition of spread or whatever.
Happy pips Pho

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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Wed Mar 11, 2020 2:33 pm

NOW I AM FAMOUS...LOL!

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Re: TRO TRADING VIDEOS

Postby TheRumpledOne » Wed Mar 11, 2020 5:21 pm

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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Thank you for your support.


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