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
TheRumpledOne wrote:BlindMan wrote:...
Putting it this way reminds me of the buy zone but I think it finally clicked. Daytrading with a daily chart is probably as simple as it can get, because I'd be looking at a single candle.
Using something like this would give me something that I can do every day on the same pair with a simple approach. Of course, easier said than done, but I want to give it a shot.
If I had to put it in steps, I guess it'd be something like this
1) Candle color gives direction.
2) Horizontal line gives entry.
3) Statistics give exit.
4) Common sense cuts losers early.
TRO001.png
Yes, the buy zone. With directional bias toward the pivot point when pivot point above the buy trigger or below the sell short trigger. Simple enough a caveman could do it...LOL!
I might as well change my name from BlindMan to CaveMan now lol.
I'm using the H1 now because it's useful for scratching trades, if a candle closes inside the buy zone I just scratch the trade for a smaller loss. No need to let it run to the full stop.
In the past a situation like this would've wiped out my profits because I'd be trading up and down getting stopped out in each direcion. The so called "whispaw". Today I was able to trade this and end the day with a profit. The fear of "whipsaw" is gone.
Enter, scratch, see that the average daily range hasn't been hit, re-enter at the next opportunity, profit. "And what if it reverses?" Then I'll scratch again. It's not like I'm going to scratch 60 trades in a day anyway. I don't overtrade. As long as the average daily range hasn't been hit I have a good chance that price will make a move away from the buyzone that I'll be able to take advantage of.
Simple is better. Thanks TRO.
- 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
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.
Re: TRO TRADING VIDEOS
TheRumpledOne wrote:
Agreed. Trading with the daily candle color works. Re-watching the "daytrading with daily charts" video a hundred times was extremely useful lol.
I've been trading the buyzone in the USDCAD for the past week using 0.01 lots (micros). Results? Well, I don't want to get too overconfident but as of today, I haven't had a losing day in the past week. A couple of losing trades (just scratches) that are part of the process, but always green at the end of the day. Some days it just went my way at the first trade, banked a few pips in some minutes. Other days I had to work for it (scratch and re-enter) and I managed to recover the small loses from the scratch trades and then make even more pips. Looking at frequency distributions of the daily range gives me a 'realistic expectation' of what price could do, based on what price usually does. Capture some of that range when price moves away from the buyzone and that's it. I see the same thing happening every day.
I know my posts aren't entirely related to your latest videos, but I think I'm finally on the right track.
Again, thanks TRO.
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- LeMercenaire
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Re: TRO TRADING VIDEOS
BlindMan wrote:TheRumpledOne wrote:
Agreed. Trading with the daily candle color works. Re-watching the "daytrading with daily charts" video a hundred times was extremely useful lol.
I've been trading the buyzone in the USDCAD for the past week using 0.01 lots (micros). Results? Well, I don't want to get too overconfident but as of today, I haven't had a losing day in the past week. A couple of losing trades (just scratches) that are part of the process, but always green at the end of the day. Some days it just went my way at the first trade, banked a few pips in some minutes. Other days I had to work for it (scratch and re-enter) and I managed to recover the small loses from the scratch trades and then make even more pips. Looking at frequency distributions of the daily range gives me a 'realistic expectation' of what price could do, based on what price usually does. Capture some of that range when price moves away from the buyzone and that's it. I see the same thing happening every day.
I know my posts aren't entirely related to your latest videos, but I think I'm finally on the right track.
Again, thanks TRO.
As we have discussed elsewhere, I have always held that Buy Zone is one of - if not the - most underrated methods out there. It is genuinely a cash-machine. Remember in those last tests I ran, it got to the point where I was more inclined to post if any of the pairs didn't cash in, than if they did, as I was simply posting the same ''hit tp, hit tp, hit tp'' again and again and again, every...single...day.
If ever I am sitting up late - which is most nights, in fact - then I will just stick it on one of the charts and let it go do its thing. Sit with a brew and watch it go, help it along if it needs it and then cash in before bed. What's not to like?
I have never gotten around to testing the Skyline variant so far but it is on my list.
- 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
LeMercenaire wrote:
Is that Buy Zone the one that operates off each new H1 candle, or the original Session Open one?
The Original BUY ZONE.
The "each new H1 Buy Zone" is for mad scalpers...LOL!
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.
- LeMercenaire
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Re: TRO TRADING VIDEOS
TheRumpledOne wrote:LeMercenaire wrote:
Is that Buy Zone the one that operates off each new H1 candle, or the original Session Open one?
The Original BUY ZONE.
The "each new H1 Buy Zone" is for mad scalpers...LOL!
In the dictionary, the definition beside my name says ''mad scalper'', lol.
- 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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