Middle Trade

[jstockman]

TRO,

Can you point a newbie in the right direction. What is your methodology for setting targets and stops in the middle trade. Can you give me an example to work with in order to understand the concepts.

Best regards,


Jimmyj

[TheRumpledOne]

First you have to tell me if you are scalping or swing trading.

But exits are simple...

If you are long and it makes horizontal highs or lower lows, exit.

[jstockman]

TRO,


Entries
I want to be in and out within a 24 hour period.


Exits
You said "But exits are simple...

If you are long and it makes horizontal highs or lower lows, exit."

What are "horizontal highs or lows? (Boy I am a newbie. )

Regards,

Jimmyj

[TheRumpledOne]

Horizontal high: the high this bar and the high last bar are the same. That means resistance.

Lower lows: the low this bar is LOWER than the low last bar. Means the sellers are taking control.

[jstockman]

Horizontal high: the high this bar and the high last bar are the same. That means resistance.

Lower lows: the low this bar is LOWER than the low last bar. Means the sellers are taking control.

TRO

Thank-you I understand.

Now back to setting targets and stops. I want to be out of the market within a day.

Lets start with stops. Can you give me some ideas to work with.

Regards,

Jimmyj

[TheRumpledOne]

STOPS ARE FOR SISSIES.

[jstockman]

TRO,

Ok I don't want to be a sissie. How do you objectively plan your trade using the Middle if it goes bad.

No sissies here,

Jimmyj

[jhtumblin]

Well technically the middle trade never goes against you. There is always room for profit of some sorts (not including commission), the only problem lies therein if you wait too long to get out and the profits have passed by. It is very rare, except on small timeframe charting, that the middle is crossed only by one pip.

TRO seems to use much discretion in his trading, the inclusion of S/R lines, fib lines, previous mid crosses and the trade's momentum, i'm sure he also has some proprietary indicators. The middle is a great tool by which to get you trading in the right direction, but from there you have to determine the exits. This is not a static method and it would probably be best if you watch the market in real time to learn how it "moves" in regards to the middle.

There is a certain weight placed on discretion and experience when trading, I wouldn't expect anybody to run across this messageboard as a beginner and make a million by the end of the year (of course that statement is capital dependant.) We can tell you how to use indicators all day long, but the study of them in real time is the key. The middle is by no means a holy grail, but more of a map that leads you towards it, a profitable map at that.

[TheRumpledOne]

"... , i'm sure he also has some proprietary indicators...."

NO!

All I need is TRO_CONTROL and my DYNAMIC SUPPORT/RESISTANCE.

THAT'S IT!

KEEP IS SIMPLE!

[watzdorf]

Hi Avery, I like your indicators a lot and playing around with them. However I don't really understand haow to use the TRO_Control indicator in combination with the DYNAMIC S/R which I like a lot. Could you please make an example? Thank you

Alex