Never Lose Again

[MightyOne]

You could put your daily loss limit out there as a catastrophic stop loss.

Reduce the size of the stop as you exit for less than a profit.

Bring it back to full size as you make profit.

If you reach your loss limit then quit for the day.

In the picture you see why it is important to leave your stop at its point of origin and exit to reduce risk.

You would have been so bummed had you used a trailing stop!

Today London, 5M GBPUSD... (other three pairs more or less similar)

MO, thanks. I think, I am slowly really starting to understand what you are trying to teach this community. It seems really powerful. Sell high, buy low...

OK, I have to play a bit more with money management and SL. I think my SL is still too wide, but not sure whether I have nerves for tighter SL.

Any comments?

[Snowflame]

Just received the 3_Level_ZZ_Semafor_TRO_MODIFIED_VERSION.mq4 indicator from TRO today. I have not ued this indicator before. Is there a post that expalins how this indicator is used?

Thanks....

[TheRumpledOne]

I am really liking this!

You ask, how to use?

When you see a semafor appear, that usually indicates price breaking out and will continue in that direction for a while. Then, price will reverse.

[razorboy]

Numbers in the chart refer to the points below



For some reason, some of the numbers "moved" when I made the pic

#1 on the volume chart - look up and you see 3 no demand bars - there is your first short

#2 on the price chart - 2 no supply bars in a row - tightened range - less volume - long

#3 and 4 same thing - long - had i played 4, I would have been wicked out

#5 climax - wide volume upbars followed by two tight ranged down/dojis

#6 no supply bars

#7 - had a possible short and long here - I waited for the short after the final no demand bar

#8 - two test bars - long - a safe 50 pips plus - I bailed on this too early

Additionally you had a good stopping volume trade at the open of Tokyo

I would love to tell you that I played all of these appropriately, but I still put 10% on my account today (probably due to money management rather than great chart reading)- this is more of a homework exercise at pointing out the obvious..........to myself and anyone else who wants to ridicule me

[razorboy]

nerves for a tight stop loss? Anything more than like 20 to 25 pips is too big for me. I have found that I am either bang on right with my positions or they go about 10 pips in my favor and tank........... and go exactly the opposite direction.......almost in a straight line

So what I have found works for me and my price dyslexia is to put on 4 units at once, scale out of 2 units by 10 pips of profit - move my SL to BE on the rest and then scale out as i see fit - I know very anti MO method, but it seems to be working for me

It is making me money as long as I dont over trade..........

Today London, 5M GBPUSD... (other three pairs more or less similar)

MO, thanks. I think, I am slowly really starting to understand what you are trying to teach this community. It seems really powerful. Sell high, buy low...

OK, I have to play a bit more with money management and SL. I think my SL is still too wide, but not sure whether I have nerves for tighter SL.

Any comments?

[TheRumpledOne]

This is almost too simple.

To reverse, wait for stopping volume and semafor then when you see price reverse enter.

To enter breakout wait until you see a breakout on the multimeter.

The PriceAT multimeter tells you when price is AT the HIGH or AT the LOW, so you can get the best entry.


DRAIN THE BANKS!

[TheRumpledOne]

This is almost too simple.

To reverse, wait for stopping volume and semafor then when you see price reverse enter.

To enter breakout wait until you see a breakout on the multimeter.

The PriceAT multimeter tells you when price is AT the HIGH or AT the LOW, so you can get the best entry.


DRAIN THE BANKS!

[razorboy]

not always stopping volume - the no demand and no supply bars are key as well - i think they may acutually be better than SV - seems to be less bounce............

This is almost too simple.

To reverse, wait for stopping volume and semafor then when you see price reverse enter.

To enter breakout wait until you see a breakout on the multimeter.

The PriceAT multimeter tells you when price is AT the HIGH or AT the LOW, so you can get the best entry.


DRAIN THE BANKS!

[TheRumpledOne]

not always stopping volume - the no demand and no supply bars are key as well - i think they may acutually be better than SV - seems to be less bounce............

This is almost too simple.

To reverse, wait for stopping volume and semafor then when you see price reverse enter.

To enter breakout wait until you see a breakout on the multimeter.

The PriceAT multimeter tells you when price is AT the HIGH or AT the LOW, so you can get the best entry.


DRAIN THE BANKS!

Please post a chart or 2 showing an example.

Thanks.

[razorboy]

http://kreslik.com/forums/viewtopic.php?p=20487#20487

here is one from today

you can see that sometimes the key is when volume confirms the price action and other times there is a divergence between volume and price action - all depends on the prior price action................

not always stopping volume - the no demand and no supply bars are key as well - i think they may acutually be better than SV - seems to be less bounce............

This is almost too simple.

To reverse, wait for stopping volume and semafor then when you see price reverse enter.

To enter breakout wait until you see a breakout on the multimeter.

The PriceAT multimeter tells you when price is AT the HIGH or AT the LOW, so you can get the best entry.


DRAIN THE BANKS!

Please post a chart or 2 showing an example.

Thanks.