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Post here how you use TRO_DYNAMIC_FIBSSR - I'll start

Posted: Sun May 06, 2007 4:42 pm
by Susana
I'm a futures trader, particularly a scalper.

Basically I wait for price to hit support or resistance twice and try to get in within 1 tick of the support/resistance area.

For example...

If support is 800 (ER2), I will try to buy limit 800 or 800.10 max, with a stop at 799.90 (MIT). Target is 800.50 (MIT). Very simple.

If I see a stair like effect on support or resistance I usually stay out until things consolidate a bit or try to jump on the winning side on a pullback or retracement.

The losses are ultra small, the winners twice as big (minimum) and I'm always with the micro trend.

I don't use any other TRO indicators because I cant' seem to enhance my tactics with the others.

If you got tips on how to do, please do so. Also chip in with your TRO_DYNAMIC_FIBSSR tactics.

Thank you and enjoy the weekend.

Oh and as always, thanks to TRO.

Susana

Posted: Sun May 06, 2007 5:09 pm
by TheRumpledOne
If you are using a 1 min chart, wait for the dynamic support to "push" down "hard" 3 times.

A "soft" push is when support is pushed down to a new level on a candle and down again on the next candle.

A "hard" push is when support is pushed down to a new level on a candle and stays at the same level on the next candle.

If you can wait for this, the price will usually retrace 23%, 38% or 50%.

If you like using 5 min candles, then if price going down and pushing against support, wait for the candle to close. You can trade the next candle. Wait for the price to cross the previous candle's midpoint.

You'll get a feel for this as you're trading.

Also, check the distance between support and resistance. When it is "wide" enough, you can pick up the ticks easier. Checking the distance between support and the 23% fib dot will let you know when your chances of making 5 ticks are almost a "lock".

HTH.

Posted: Sun May 06, 2007 5:35 pm
by Susana
TheRumpledOne wrote:
A "soft" push is when support is pushed down to a new level on a candle and down again on the next candle.

A "hard" push is when support is pushed down to a new level on a candle and stays at the same level on the next candle.

HTH.


TRO,

Funny the way you describe it. The hard seems like the soft push and the soft sems like the hard one.

Hard Push = same level on the next candle ?
Soft Push = down again on next candle ?

I'm missing something :)

Susana

Posted: Sun May 06, 2007 6:33 pm
by TheRumpledOne
Just a naming convention.

To me, when the dots are HORIZONTAL, that means price hit a "HARD" wall of resistance.

When the dots are staggered, that means price broke through "SOFT" resistance.

That's why I look for HORIZONTAL support/resistance to trade a retrace.

Posted: Sun May 06, 2007 7:25 pm
by Susana
TRO,

Got you. Thank you for sharing, hope others jump in :)

Posted: Sun May 06, 2007 7:37 pm
by TheRumpledOne
Susana:

There is really not much else to tell. It's trading as simple as it gets.

The other part is when the distance between support and resistance narrows... sooner or later, you'll get a breakout ( soft push ).

Posted: Sun May 06, 2007 8:40 pm
by Susana
TRO,

As simple as it is, I think its your best :)

Posted: Mon May 07, 2007 4:03 pm
by eudamonia
TheRumpledOne wrote:If you are using a 1 min chart, wait for the dynamic support to "push" down "hard" 3 times.

A "soft" push is when support is pushed down to a new level on a candle and down again on the next candle.

A "hard" push is when support is pushed down to a new level on a candle and stays at the same level on the next candle.

If you can wait for this, the price will usually retrace 23%, 38% or 50%.

If you like using 5 min candles, then if price going down and pushing against support, wait for the candle to close. You can trade the next candle. Wait for the price to cross the previous candle's midpoint.

You'll get a feel for this as you're trading.

Also, check the distance between support and resistance. When it is "wide" enough, you can pick up the ticks easier. Checking the distance between support and the 23% fib dot will let you know when your chances of making 5 ticks are almost a "lock".

HTH.


Avery,

This was what I was trying to do last week but I needed that filter. I love the idea of the "soft" and "hard" push. This gives me some new ideas. Thanks!

Edward

Posted: Mon May 07, 2007 9:04 pm
by TheRumpledOne
filter?

Posted: Mon May 07, 2007 10:31 pm
by eudamonia
Avery,

I was trying to trade this without waiting for a "hard" push.

Edward