Well this is very interesting...... I tried what I believe are ( to the best of my knowledge) TRO trades.... and they both worked out very well. Two trades, 18 points each for a nice total of 36 YM points. I'm hoping that TRO will weigh in to comment on these trades as I am not sure if they were really executed properly. But they worked !!!
I posted my 5 min chart with the support/resistance on it. You'll also see the hourly pivots. I felt good about the first trade as it followed an inside candle. The second trade I waited until price dropped to 9544 a number that I have found to be a good sell number.
Good trades Jeff. It's good to see you try something new and make it work. I'm curious why you think they're "TRO trades" ? I'm not sure what a TRO trade is. Do you mean that you picked a line and then traded off the line? This is really the key to trading in my opinion. If you use a 1:1 stop/target and trail your stop then your losses should be smaller than the winners and if your hit ratio is 30-40% you can come out ahead. If your hit rate is 50% then you come out way ahead.
Also, in your previous post you said that you took off everything but the EMA. I'm curious if you found the EMA useful on that previous chart? It was a bit flat. I think it's easy to "see" the direction of a moving (maybe not exactly 50 but I don't think that's important) by looking for higher highs and lower lows..
Yes, all I did was trade off the hourly pivot. Well, a few other factors confirming..... but still traded off the hourly pivot. But..... I know that I am not using the TRO hourly indicator properly. I'm hoping that someone that is more knowledgeable in the use of this indicator will clue me in.
Yes, I've been trading with moving averages for so long... that I find that having at least the 50 EMA up helps to orient me. I find that the 50 EMA is much like Big Mikes 5 time frame line he uses on CL. It's my security blanket. I just feel a little too vulnerable without it on the chart. Plus, I think the colors are a visual reminder of direction or lack thereof.
/// Programmer: Avery T. Horton, Jr. aka TheRumpledOne,
/// DONATIONS AND GIFTS ACCEPTED
/// P O BOX 43575, TUCSON, AZ 85733
/// Indicator: TRO Buy Zone
/// Version: v1.01
/// Converted to NinjaTrader by cvax
/// Changelog: v1.01 - Improved painting method of Buy Zones
/// /// Updated to be reset hourly by Wayne Walter
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