2009.03.17 TRO - NEVER LOSE AGAIN!!

[genlogins]

Today I saw something that you guys could have a go at debating.

Since 6am GMT I saw price on E/U just getting no movement. Sudently at point A, fast movement, I saw 2 news, but as I read the just the summary, it was old news. I got back to MT4 and saw the next hour to go bullish.

Than 40 minutes later, BANG, Fast move, and think I could hear from where I am all people in the Forex markets saying SELL SELL SELL SELL.

Again, 14 types of NEWS came into my MT4. They where comming so fast I thought people my be nuts with emothions as majority were old news. NON Important news.

I Took calm in my hands, and said, Let the YEALE student to go in and out. And once the ocean is calm, get in.

Once I thought the price was stable, I than waited to get in. But the emotions of seeing the price like that, I wasn't sure to get in, I got the RAT Zone, I got the Signal, I got the entry in the M15 and M5 at the same time.

So, finally I enter, I enter like this for SHORT entry:

1- 20 pips RAT Zone.
2- Semafor on H1.
3- Audio signal Short on 1.3347 on M15.
4- Also, Audio signal Short on 1.3347 on M5.
5- Green candle close, 1st red candle close, 2nd red candle close, enter at the

close of the 2nd candle.
6- exit with 10 pips or more.

I would like some advice on step 5, as I think I have 1 more red candle

somewhere, unnecessary.

Why I enter at this particular value. Take the following experiment, as I took some advice from you guys to draw the price.

The following image shows my learnings as drawing the price. Since I was so confused and get uneasy to get into trading, I though of drawing what was happening and what could happen with price.







I Than saw price on my drawing retrace, than go up. I felt confident gone back to MT4 and enter, late but I enter and got my cheese.

Remember I did not knew price was going to do this in the morning, and also I don't know where is going to be later at night when I get back to the MT4.

I also predict price to go up the rest of the month up to FIBs 23.6%.

[genlogins]

The picture say everything.

Last week I've done a mistake that cost me losing 20% of 25% growth of the account just for that week alone.

This week I have not done the mistake and I took a 25% growth. Thank You Forex, All of You, and MYSELF.

I am changing slightly the strategy of the Trilling Stop as it is taking my profits away.

Have a nice weekend and enjoy today the Greenies to E/U going to 1.3300.

[svdv]

TRO,

Do you still trade the NLA method at all, or only the Rat Reversal trades?

I am curious ,using your 5+ pip exit, what was/is your average winning trade percentage with the NLA method?

Thx

Steven

[TheRumpledOne]

Steven:

Let's clear things up:

1) To trade like a RAT is to ALWAYS trade in ONE DIRECTION - either LONG or SHORT. Once you pick a "team", you can't switch.

2) The "within 20 pips of the daily high/low" is the BEST possible entry to get the maximum run BUT the RAT REVERSAL entry works ANYWHERE on the chart.

[svdv]

TRO,

Thanks for your reply.

I was actually referring to your first post in this thread (from last year).

The rules you put forward are added below.

I totally agree on the statistical advantage of just trading one side. I am just curious why you no longer use the 'averaging down' method you used earlier.

Have you found the single entry/10 pip stop rat reversal to be more profitable? It may be easier to trade psychologically with only one entry because the losing trades are taken more quickly. On the other hand I think the winning percentage without averaging down is probably a lot lower (cf. the Yale student's 60 % example you gave).

For some of us it may just be easier to trade a method that has a higher win rate (i.e with averaging down).

Thx
Steven

------------------------------------------------------------------
quote:

Here's a simple method that if you apply it properly ( and don't load up the charts with SQUIGGLY'S ), will enable you to NEVER LOSE AGAIN!

1) Only trade if there is a 1, 2 or 3 semafor on the current or previous H1 candle. NO EXCEPTIONS.

2) After you see the semafor on the H1 chart, look at the M15 chart for the long(light blue) and short(pink) triggers based on TRO DYNAMIC FIBS SR TRAIL indicator.

3) When price touches the trigger you enter. DON'T THINK, JUST ACT!

4) Only ONE TRADE PER M15 CANDLE. If price goes against you, just wait.

5) If price went against you and makes a new dynamic sup/res level, get ready to enter at the trigger. If you can't see how this work, then DO NOT TRADE IT. I have entered up to 3 times.

6) What's the STOP LOSS? The stop loss is your maximum allowed loss per trade based on your money management.

7) What's the TAKE PROFIT? You take what you can. I usually take 5+ pips and leave more on the table.

Try this method using a micro lot or 0.1 mini lot. Trade it this way until you feel comfortable and are profitable on a consistent basis. Just trade it, AS IS, and don't add anything to it to improve it. You'll be amazed at how profitable a simple method can be.

[TheRumpledOne]

"I totally agree on the statistical advantage of just trading one side. I am just curious why you no longer use the 'averaging down' method you used earlier. "

You can still do that AND trade like a RAT.

But it is best to keep things simple.

[TygerKrane]

I'm sorry, buy 'Averaging Down' method, is that referring to:

[highlight=tan]7) What's the TAKE PROFIT? You take what you can. I usually take 5+ pips and leave more on the table.[/highlight]


??????????????????????

[genlogins]

[glow=red] ----- Ashamed -----[/glow]

As I said last post on Friday, price would go to the 1.33000 and fell like crazy, well it went to 1.33009.

I waited but, I enter earlier, because I thought would not hit. The second entry also hit SL. The triger was there, but price was not on the 1.33 yet.

Once it hit 1.33, I waited to see it got higher, than a fast descend, and I waited for RAT rules for short entry (green closes, red closes, 3rd candle hit lowest of last red candle than enter short.).

I took some profit.


The thing here is that I got unemployed, and now I have loads of time to get into Forex trading. So during the weekend, I though of making a 2 week non stop trading all day long, from 6a.m. GMT to 20pm. GMT.

I did start yesterday, and I mess up all the 4% I earn last week.

All day I only had 3 positive trades, all were fails.

I still at the end of the day, went to see what happened.

Well.........................


1- I wanted to get more from the market because, of lost job.

2- I wanted to get in because I was sure the market would go my direction at least 200 pips. And it did went 235 pips.

3- Every time I enter, I would be stopped with a SL.

4- THE WORST ONE --------- I was trading in M1 and not M5. I don't think this type of indicator or the rules are for M1 trading, are they? Could some one indicate please?


Although my emotions were uncontrollable. today they are much more controllable, and I just had 5 trades from which 3 positives growing the account again.


Should I stay all day trading? or not?

[pika]

Should I stay all day trading? or not?

Certainly not. Your mind will not be able to concentrate for so long and you will tend to lose your trading discipline when you stare at the screen the whole day as your mind play tricks on you. Then at the end of the day you will feel damn lousy because you have wasted the whole day. I suggest you may like to watch the market when the London session opens for 2 hours, take a break and then watch the market when NY session opens for 2 hours. If you have your day's winnings during the London session, you should just skip the NY session. Do this consistently and profitably over time and your account will grow exponentially.

[genlogins]

Pika, that is exactly what I was seeing last week when I grow 4% my account.

And I was actually doing Frankfurt hours at 6am GMT, until 10 am. after London open. Than I would go to work, and on my break lunch I would go back and do the 1pm GMT until 2pm.

I think I am going back to those.

I also was doing 5 trades max per day. Going for 10 pips each, either SL=10 TP= what ever it gives.