BabyPips.com Forex Forum

BabyPips.com Forex Forum (/)
-   Show me the money! [Daytrading] (http://forums.babypips.com/show-me-money-daytrading/)
-   -   Never Lose Again!! (http://forums.babypips.com/show-me-money-daytrading/16021-never-lose-again.html)

johnnykanoo 09-14-2008 06:25 PM

Quote:

Hi john,
you can find it under Navigate menu like " Market depth" , but i think that you wouldnt see nothing until will be market opened. (during weekends is platform without data supply)
Faenorsan
thanks ill try that tomorrow

xmess7 09-14-2008 11:39 PM

Folks:
Being this my first post here I want to start of by pointing out that:

I GET IT, I SEE IT, AND I AM USING IT!

Boy talk about the K. I. S. S. principle, this it by far one of the greater examples and to think you can make money with it, too. WOW.

TRO I took a look at the TRO_DYNAMIC_FIBS_SR code and I see that a Buy/Sell alert is triggered any time that the price crosses the required levels. Now, I was under the impression that one of the requirements is that the price crossing the goShort and goLong leves needs to be in the same direction, that is, going lower or higher in cojuntion with the bias of H1 and D1.. I would recommend having the code detect when a red candle (blue candle) is crossing the goShort(goLong) level. If it's ok I can add that logic to the code, I already have some lines of code that does that.
With this setup, now the alert would correspond to the required trigger and one wouldn't have to wait for a candle to form in the direction it should be.

If you folks are interested I can provide info and instructions (with pictures, I like pictures :D) of how to setup a simple (secure) mailserver on your machine which can be triggered by the code to send alerts to your phones or emails. I have been doing this and it beats having to be in front of the machine. If you have a PDA you can then initiate trades from basically anywhere.

Sorry for the long message.... I do have more to contribute.

Dragon your story intrigues me.. how are you doing? How is your daughter?

xmess7 09-15-2008 12:26 AM

Oh hey, one more thing. Which script has those huge arrow indicators? I downloaded the motherload zip file, is it in there?
Thnx

TheRumpledOne 09-15-2008 01:55 AM

Quote:

Originally Posted by xmess7 (Post 68086)
Folks:
Being this my first post here I want to start of by pointing out that:

I GET IT, I SEE IT, AND I AM USING IT!

Boy talk about the K. I. S. S. principle, this it by far one of the greater examples and to think you can make money with it, too. WOW.

TRO I took a look at the TRO_DYNAMIC_FIBS_SR code and I see that a Buy/Sell alert is triggered any time that the price crosses the required levels. Now, I was under the impression that one of the requirements is that the price crossing the goShort and goLong leves needs to be in the same direction, that is, going lower or higher in cojuntion with the bias of H1 and D1.. I would recommend having the code detect when a red candle (blue candle) is crossing the goShort(goLong) level. If it's ok I can add that logic to the code, I already have some lines of code that does that.
With this setup, now the alert would correspond to the required trigger and one wouldn't have to wait for a candle to form in the direction it should be.

If you folks are interested I can provide info and instructions (with pictures, I like pictures :D) of how to setup a simple (secure) mailserver on your machine which can be triggered by the code to send alerts to your phones or emails. I have been doing this and it beats having to be in front of the machine. If you have a PDA you can then initiate trades from basically anywhere.

Sorry for the long message.... I do have more to contribute.

Dragon your story intrigues me.. how are you doing? How is your daughter?

Feel free to change the code but if you post it, CHANGE THE NAME so it won't step on the original when someone downloads it.

That logic is in TRO SR RR ;)

By the way... WHAT DO YOU GET? WHAT DO YOU SEE?

TheRumpledOne 09-15-2008 01:57 AM

Quote:

Originally Posted by xmess7 (Post 68089)
Oh hey, one more thing. Which script has those huge arrow indicators? I downloaded the motherload zip file, is it in there?
Thnx

TRO BIAS EZ has the HUGE ARROWS which, by the way, the font size is a user input so you can change the size.

TRO BIAS EZ is one of the "donational" or "thank you" indicators.

Afro88 09-15-2008 06:48 AM

Did a few rushed trades today as I was a bit eager to give this a go live again after looking at alot of charts over the weekend. Learnt a few lessons this way. I also started doing a bit of trading taking the h1 and d1 biases into consideration and using support lines as entries to go short (provided h1 and d1 agreed with me) the way dragon33 has talked about. You can get some great pips from those entries! I'll definitely be experimenting with that more during the week. You just have to be certain a breakout actually occurs and the market isn't just testing....

Also took the news times into account for the first time. Works out well for me in Oz, EU/$ in the morning, GBP/JPY in the evening.

Anyway, I learnt a few valuable lessons...

1) Don't rest your finger on the mouse button while it's over a buy/sell button!!! I accidentally triggered a sell when I saw some decent movement over a go long bar!

2) If you're trading a new currency pair, be sure to take spread into consideration when you set your stops and TP levels. After trading the EU/$ this morning, I switched to the GBP/JPY this afternoon and I have never live traded this currency. My broker has a pretty steep spread on this pair, so I set my usual stop and got wiped out 2 times in a row before I realised what happened!

3) Stick to your rules no matter what. Just because it looks like the go short/go long lines should be placed somewhere doesn't mean they actually should - always calculate the pivot properly! Likewise, just because the price has crossed before doesn't mean you can buy in late and hope for the best. I'm primarily talking about buying against the h1 d1 on a retraction by the way.

So 17 trades, 8 wins, 9 losses. 57 pips up overall, after taking spreads into account etc. Not bad for a learning day!

dragon33 09-15-2008 08:28 AM

Pitty i have worked the nightshift, it seemed i missed a lot of action today.

edacsac 09-15-2008 12:01 PM

I still can't get things right. What the heck do you do when a trade goes bad? I'm watching USD/JPY today. I made 3 good trades for about 10 pips each. Little bits, pulling out for profit. I had to ride through two retraces with about twice as much drawdown as profit. I don't like that, but things are generally going north so I guess it works.

Now I'm stuck in a trade that reversed and I'm 70 pips in the hole. How do you handle that? I could be in this trade all day or better just to break even.

Faenorsan 09-15-2008 12:01 PM

Quote:

Originally Posted by dragon33 (Post 68158)
Pitty i have worked the nightshift, it seemed i missed a lot of action today.

Why so sad:) there is every day a lot of possible trades with pips for us

johnnykanoo 09-15-2008 12:04 PM

Quote:

Now I'm stuck in a trade that reversed and I'm 70 pips in the hole. How do you handle that? I could be in this trade all day or better just to break even.
A good idea for a trade that is against you. If you know you are in the right direction but price is against you. close your position, then place a limit order at that price so when price comes back it triggers you back into the trade and you are back in the right direction and you dont lose more than the 70 pips

johnnykanoo 09-15-2008 12:18 PM

http://img376.imageshack.us/img376/7963/eurjpyes9.gif
http://img376.imageshack.us/img376/e...if/1/w1024.png

another good trade. I had to wait a while for the H1 bias but patience is paying off!!!

TheRumpledOne 09-15-2008 12:50 PM

Quote:

Originally Posted by edacsac (Post 68181)
I still can't get things right. What the heck do you do when a trade goes bad? I'm watching USD/JPY today. I made 3 good trades for about 10 pips each. Little bits, pulling out for profit. I had to ride through two retraces with about twice as much drawdown as profit. I don't like that, but things are generally going north so I guess it works.

Now I'm stuck in a trade that reversed and I'm 70 pips in the hole. How do you handle that? I could be in this trade all day or better just to break even.

THERE IS NO RIGHT/WRONG... ONLY PROFITABLE/UNPROFITABLE!

You are probably OVER TRADING!!

You only need ONE good trade a day.

LEARN TO WAIT FOR THE BEST SETUPS.

Also, EVERYONE PLEASE POST YOUR CHARTS so we can SEE what you are talking about.

TheRumpledOne 09-15-2008 12:52 PM

Quote:

Originally Posted by johnnykanoo (Post 68186)
another good trade. I had to wait a while for the H1 bias but patience is paying off!!!

You mean another PROFITABLE trade!

What was the time of the entry/exit?

TheRumpledOne 09-15-2008 12:55 PM

http://i38.tinypic.com/2qvqr74.gif

I made a TRO SR RR FREEWAY indicator with BIAS. The color of the column periods is the BIAS of that time period.

The HORIZONTAL LINES in the column are the Resistance, go Short, go Long and Support lines for the time period.

I also have the MURREY MATH lines on the chart. I like HORIZONTAL LINES.

metalorn 09-15-2008 01:06 PM

On EURUSD I made 3 profitable trades between 8:00 and 9:00 gmt, after both 1H and 1D candles match direction, and price was moving away from resistance down to support.

http://i37.tinypic.com/2zi1qc9.gif

dragon33 09-15-2008 01:17 PM

http://i38.tinypic.com/nnw2g4.jpg


Hey guys help me out please
I can't figure out how it works.
The market depth screen is not similar as shown before. What am i doing wrong.

metalorn 09-15-2008 01:21 PM

I also followed the guidelines from Daytrading 2.0 for small traders.

http://i38.tinypic.com/6gllq8.gif

TheRumpledOne 09-15-2008 01:26 PM

http://i33.tinypic.com/120h650.gif

Going with the BIAS at the HORIZONTAL LINES is profitable.

TheRumpledOne 09-15-2008 01:28 PM

http://i35.tinypic.com/2nq9ppk.gif

Same idea using the DRAGON TUNNEL.

Trading with the BIAS.

TheRumpledOne 09-15-2008 01:29 PM

Quote:

Originally Posted by dragon33 (Post 68193)
http://i38.tinypic.com/nnw2g4.jpg


Hey Guys Help Me Out Please
I Can't Figure Out How It Works.
The Market Depth Screen Is Not Similar As Shown Before. What Am I Doing Wrong.



It Is Eur/usd

The "/" Is Important

TheRumpledOne 09-15-2008 01:31 PM

Quote:

Originally Posted by metalorn (Post 68194)
I also followed the guidelines from Daytrading 2.0 for small traders.

Nice trading, metalorn.

Perhaps you can share in your own words so that all may benefit.

Thanks.

TheRumpledOne 09-15-2008 01:42 PM

http://i38.tinypic.com/5fqfxt.gif

You have to LEARN TO WAIT for the next trade.

TheRumpledOne 09-15-2008 01:47 PM

http://i33.tinypic.com/fa79sx.gif

Some people do not like the columns so you can turn them off but then you can turn on the HORIZONTAL LINES.

ewokuk 09-15-2008 01:50 PM

that is something i am starting to get the hang of. i tend to look at the charts now and if price is in no-mans-land in between support and resistance i tend to leave it and wait instead of just jumping in in a desperate attempt to get pips. if it starts pushing support or resistence then i go long in that direction if its with the hourly bias. ive not really been using the go long or go short lines.

TheRumpledOne 09-15-2008 01:52 PM

http://i34.tinypic.com/2njc20i.gif

WAITING FOR M5 TO CLOSE.

TheRumpledOne 09-15-2008 02:02 PM

http://i38.tinypic.com/14scg9h.gif

In at 188.90

5 pip trailing stop entered at 189.15

Out at 189.25

Do you see how trading WITH the H1 CANDLE COLOR AT THE HORIZONTAL LINE IS PROFITABLE?

Back to waiting.

TO BE CONTINUED...

TheRumpledOne 09-15-2008 02:05 PM

Quote:

Originally Posted by ewokuk (Post 68204)
that is something i am starting to get the hang of. i tend to look at the charts now and if price is in no-mans-land in between support and resistance i tend to leave it and wait instead of just jumping in in a desperate attempt to get pips. if it starts pushing support or resistence then i go long in that direction if its with the hourly bias. ive not really been using the go long or go short lines.


THAT'S GREAT.

You are SEEING WHAT WORKS FOR YOU.

THAT'S ALL THAT MATTERS.

YOUR GRADE

A+

edacsac 09-15-2008 02:06 PM

So now that it's pretty obvious my trade is not coming back anytime soon... I'd like to get out of this trade so I can focus on good trades. The only problem, is that I'm down further than all the profitable trades I've made on this account total and I feel compelled to wait it out. It could take all week though, and it still might not come back. I really get frustrated pulling in a barely a dollar or two per trade, then going in the hole for $20 in less than a minute and being locked up not able to trade anymore.

Quote:

Originally Posted by johnnykanoo (Post 68184)
A good idea for a trade that is against you. If you know you are in the right direction but price is against you. close your position, then place a limit order at that price so when price comes back it triggers you back into the trade and you are back in the right direction and you dont lose more than the 70 pips

I only made a couple of trades this morning. I was following the USD/JPY upwards, taking a few pips then getting back in. I'd love to post charts. If I find a way to send a screenshot from my phone, I'll be right on it!

metalorn 09-15-2008 02:17 PM

thank you TRO,

I waited for a setup and when it came it was for short trading. The 1H candle was red, and so the 1D candle. I also learned the hard way it's better to trade inside the range of support and resistance and for that I got help from TRO_SR_RR.

The guidelines from "Daytrading 2.0 for small traders" are pretty simple and straightforward, mainly:
- the price moves in waves, large and small, just need to identify in what part of the wave the price is and when a new wave starts, that follows the direction of the larger wave, enter the trade.
- follow the price for like 20 minutes in one day and that's it.

In the case of EURUSD, from 8:00 to 11:40 GMT everything lined up, and I took three profitable trades within one hour, 5 pips each and that made me a good 4%. After a good sleep I'll just WAIT for more setups.

Cheers.

Quote:

Originally Posted by TheRumpledOne (Post 68198)
Nice trading, metalorn.

Perhaps you can share in your own words so that all may benefit.

Thanks.

http://i36.tinypic.com/2gt3x9c.gif

TheRumpledOne 09-15-2008 02:19 PM

http://i38.tinypic.com/1kaoy.gif

In at 189.02

5 pip trailor set ( I am scalping )

out at 189.13

BACK TO WAITING...

TheRumpledOne 09-15-2008 02:21 PM

Quote:

Originally Posted by metalorn (Post 68210)
thank you TRO,

I waited for a setup and when it came it was for short trading. The 1H candle was red, and so the 1D candle. I also learned the hard way it's better to trade inside the range of support and resistance and for that I got help from TRO_SR_RR.

The guidelines from "Daytrading 2.0 for small traders" are pretty simple and straightforward, mainly:
- the price moves in waves, large and small, just need to identify in what part of the wave the price is and when a new wave starts, that follows the direction of the larger wave, enter the trade.
- follow the price for like 20 minutes in one day and that's it.

In the case of EURUSD, from 8:00 to 11:40 GMT everything lined up, and I took three profitable trades within one hour, 5 pips each and that made me a good 4%. After a good sleep I'll just WAIT for more setups.

Cheers.

That's excellent, metalorn.

Well done!!

TheRumpledOne 09-15-2008 02:24 PM

http://i34.tinypic.com/2lv0ile.gif

The FREEWAY says to go short.

MURREY MATH indicating weak support stop & reverse.

PRICE NEARING TRO SR RR SUPPORT on M5.

metalorn 09-15-2008 02:28 PM

TRO, are you actually trading at this time of the day?

Quote:

Originally Posted by TheRumpledOne (Post 68211)

In at 189.02

5 pip trailor set ( I am scalping )

out at 189.13

BACK TO WAITING...


TheRumpledOne 09-15-2008 02:32 PM

Quote:

Originally Posted by metalorn (Post 68210)
thank you TRO,

I waited for a setup and when it came it was for short trading. The 1H candle was red, and so the 1D candle. I also learned the hard way it's better to trade inside the range of support and resistance and for that I got help from TRO_SR_RR.

The guidelines from "Daytrading 2.0 for small traders" are pretty simple and straightforward, mainly:
- the price moves in waves, large and small, just need to identify in what part of the wave the price is and when a new wave starts, that follows the direction of the larger wave, enter the trade.
- follow the price for like 20 minutes in one day and that's it.

In the case of EURUSD, from 8:00 to 11:40 GMT everything lined up, and I took three profitable trades within one hour, 5 pips each and that made me a good 4%. After a good sleep I'll just WAIT for more setups.

Cheers.

http://i38.tinypic.com/5d6l2h.gif

Yes, I agree with what you saw.

TheRumpledOne 09-15-2008 02:32 PM

Quote:

Originally Posted by metalorn (Post 68216)
TRO, are you actually trading at this time of the day?

Yes, I am posting REAL TRADES.

It's still morning here in Tucson, AZ USA.

metalorn 09-15-2008 02:35 PM

Yep, I know. I live in Hermosillo, Sonora.

Quote:

Originally Posted by TheRumpledOne (Post 68218)
Yes, I am posting REAL TRADES.

It's still morning here in Tucson, AZ USA.


TheRumpledOne 09-15-2008 02:48 PM

http://i33.tinypic.com/23nwo9.gif

In at 188.87

Out at 188.93 6 pip scalp.

Can you do that using a FIXED SPREAD BROKER?

TheRumpledOne 09-15-2008 02:49 PM

Quote:

Originally Posted by metalorn (Post 68219)
Yep, I know. I live in Hermosillo, Sonora.

There's some good tacos down there!!

edacsac 09-15-2008 02:53 PM

So how are you guys so lucky with this? I'm going to have to get a second job to support my trading losses! Dudes come in here with <10 posts, and in a couple of weeks they are doing well. I've been studying this for a few months now and I'm doing worse than ever. Maybe everyone starts to fail after awhile. I did way better when I first started than I am now. I could shoot myself.

Sweet Pip 09-15-2008 02:54 PM

So part of seeing "IT" is seeing the "Waves"?


All times are GMT -4. The time now is 12:49 AM.


Copyright ©2008 BabyPips.com LLC. All rights reserved.


Content Relevant URLs by vBSEO 3.2.0