TRO TRADING VIDEOS
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- TheRumpledOne
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Re: TRO TRADING VIDEOS
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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Re: TRO TRADING VIDEOS
I was just watching your video from yesterday "winners win and losers lose" and you were going over the buy zone which is the method I am going to start learning and using. You mention that the SL to you is obvious but you never really said what it was. To me (im new to trading) it seems like it could be 2 different locations. You say to BUY when price is above the Daily Open line and the SELL when price is below the Daily Open line. To me that Daily Open line would be the SL to use but then you mentioned the +10 line is the "trigger" line and that is the "Signal" for you to either buy or sell........now I'm thinking that could also be the SL since that is your new "signal" to go the other way. Which do you recomend for me to use as my SL? Also, am I supposed to use the +8 line or +10 line as my trigger? I just wasn't sure what the difference is between the 2. I've watched all the video's I could find on youtube about these questions but I couldn't find an answer. Could you please help me with these questions....TYVM!! I love your simplicity in your trading. KISS
Re: TRO TRADING VIDEOS
bojack34 wrote:I was just watching your video from yesterday "winners win and losers lose" and you were going over the buy zone which is the method I am going to start learning and using. You mention that the SL to you is obvious but you never really said what it was. To me (im new to trading) it seems like it could be 2 different locations. You say to BUY when price is above the Daily Open line and the SELL when price is below the Daily Open line. To me that Daily Open line would be the SL to use but then you mentioned the +10 line is the "trigger" line and that is the "Signal" for you to either buy or sell........now I'm thinking that could also be the SL since that is your new "signal" to go the other way. Which do you recomend for me to use as my SL? Also, am I supposed to use the +8 line or +10 line as my trigger? I just wasn't sure what the difference is between the 2. I've watched all the video's I could find on youtube about these questions but I couldn't find an answer. Could you please help me with these questions....TYVM!! I love your simplicity in your trading. KISS
The entry is 8 to 10 pips away from the open, the profit target is 2+ pips (the second line), and the stop loss is 10 pips; I would just place a limit order at the second line when price (ASK if going up, BID if going down) touches the first.
Notice that the hourly ATR is not far from 10 pips: if it were then your stop would probably get nailed in both directions.
Take some profit before moving your stop because once you move your stop there is a 90% chance that is what your are going to end up exiting for and if you've taken profit then you're better off in the long run.
To make up for a RR that is less than 1:1 you should increase your position size by 10% for every pip you make until you have made 5 trades:
Example of using $1 pips and a target of +4:
Trade 1: +4, net $4
Trade 2: +4, net $9.60
Trade 3: +4, net $17.44
Trade 4: +4, net $28.41
Trade 5: +4, net $43.77
RISK = $10, REWARD = $43.77, RR = 4.377 to 1: if you lose one time then you are at -$10 & you would start the sequence over.
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
- TheRumpledOne
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Re: TRO TRADING VIDEOS
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
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Re: TRO TRADING VIDEOS
IgazI wrote: The entry is 8 to 10 pips away from the open, the profit target is 2+ pips (the second line), and the stop loss is 10 pips; I would just place a limit order at the second line when price (ASK if going up, BID if going down) touches the first.
g
WRONG!!!
The entry is 8 to 10 pips away from the open.
There is no profit target!! Use price action to exit.
There are 2 natural places for a stop loss: the daily open line (10 pips away) or the opposite trigger (20 pips away).
Price has to range. The average daily range is usually over 50 pips ( see chart above showing current range and average daily range over last 100 days.) 50 - 20 = 30 pips or more of potential profit. The 20 is open +/- 10 pips.
Should be obvious price ranges away from the daily open.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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Re: TRO TRADING VIDEOS
TY TRO for your response. Can I ask you which YOU prefer to use as your SL? The Daily Open (-10) or the Opposite Trigger (-20)? I seen from your video's that a "smart trader" would use the "wick zone" of the previous H1 bar as your exit after you are in the trade.
Re: TRO TRADING VIDEOS
TheRumpledOne wrote:
WRONG!!!
The entry is 8 to 10 pips away from the open.
There is no profit target!! Use price action to exit.
There are 2 natural places for a stop loss: the daily open line (10 pips away) or the opposite trigger (20 pips away).
...
Maybe I used the wrong wording so I'll just quote the buyzone manual: "learn to take 3 to 5 pips at first. Then as you master this, you will learn how to take more" -TRO.
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
- TheRumpledOne
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Re: TRO TRADING VIDEOS
bojack34 wrote:TY TRO for your response. Can I ask you which YOU prefer to use as your SL? The Daily Open (-10) or the Opposite Trigger (-20)? I seen from your video's that a "smart trader" would use the "wick zone" of the previous H1 bar as your exit after you are in the trade.
Depends on the price action... if moving fast, exit at open, if moving slow, exit at the other trigger.
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
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Re: TRO TRADING VIDEOS
IgazI wrote:
Maybe I used the wrong wording so I'll just quote the buyzone manual: "learn to take 3 to 5 pips at first. Then as you master this, you will learn how to take more" -TRO.
That is correct. But those are not profit targets.
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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Re: TRO TRADING VIDEOS
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.
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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