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NEVER LOSE AGAIN!! - TheRumpledOne
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NEVER LOSE AGAIN!! - TheRumpledOne

  #131 (permalink)
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piersh View Post
great! so is that the entirety?

i'm just trying to distill the thread in my mind. thx.

Piersh, why don't you write a GTTR ? (Genetic Tro Thread Reader).


 
  #132 (permalink)
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TheRumpledOne View Post
I am happy for your success but I do not see how you are using anything that I have posted.

I used a 5 min, 10 min, 30 min and a 610 tick, 987 tick and 1597 tick chart for your method. Couldn't find the sweet spot yet. Example for 2 trades on 987 tick chart.

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  #133 (permalink)
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A) Price makes new low for the day or is within 20 pips of low of the day

B) Previous candle is green ( 5 min, 15 min or 60 min )

C) Enter at previous candle high

Look at the chart:

See those 2 red candles near the bottom...

See the next candle was green...

See then next candle break the previous green candle's high - that was your entry...

See the profit!!!

 
  #134 (permalink)
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sam028 View Post
Piersh, why don't you write a GTTR ? (Genetic Tro Thread Reader).


You guys are used to COMPLICATED METHODS with SQUIGGLY LINES all over your charts. I have been reading other threads here on Big Mike Trading.

If you LET GO of all of that, then you will UNDERSTAND what I am posting.

There is no MAGIC here. Just pure trading: no myths, no BS.

 
  #135 (permalink)
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OPPORTUNITY...

 
  #136 (permalink)
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TheRumpledOne View Post
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A) Price makes new low for the day or is within 20 pips of low of the day

B) Previous candle is green ( 5 min, 15 min or 60 min )

C) Enter at previous candle high

Look at the chart:

See those 2 red candles near the bottom...

See the next candle was green...

See then next candle break the previous green candle's high - that was your entry...

See the profit!!!

TRO I'm curious how you came up with the 20 tick rule. I'm assuming this method would work with other instruments but that 20 tick rule would need to be tweaked to suit that instrument. Also, do you use the 20 tick rule on all forex pairs or do you use a different level for different pairs based on their average day range/volatility/etc.?

Blz

By the way I pulled at 20 tick short off the 6B using this setup, thanks.

 
  #137 (permalink)
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TheRumpledOne View Post
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A) Price makes new low for the day or is within 20 pips of low of the day

B) Previous candle is green ( 5 min, 15 min or 60 min )

C) Enter at previous candle high

Look at the chart:

See those 2 red candles near the bottom...

See the next candle was green...

See then next candle break the previous green candle's high - that was your entry...

See the profit!!!

lovely. how about money management? i think you mentioned previously you don't have a profit target? where's the exit, next red bar? how do you manage your stops? i see what you mean when the trade works, how about some where it doesn't?

 
  #138 (permalink)
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piersh View Post
lovely. how about money management? i think you mentioned previously you don't have a profit target? where's the exit, next red bar? how do you manage your stops? i see what you mean when the trade works, how about some where it doesn't?



ALL YOU NEED TO KNOW ABOUT TRADING

* Price either goes up or down.
* No one knows what will happen next.
* Keep losses small and let winners run.
* POSITION SIZE = RISK / STOP LOSS
* The reason you entered has no bearing on the outcome of your trade.
* You can control the size of your loss (skill) but you can't control the size of your win (luck).
* You need to know when to pick up your chips and cash them in.

Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss)

You can not control the probabilities of wining or losing.

You can not control your average win size.

The only part of the equation of the equation that you can control is your average loss size.

Account balance = $1000

Maximum Risk per trade = 2%

Maximum Risk dollars = $1000 * 2% = $20

POSITION SIZE = RISK / STOP LOSS

STOP LOSS = 10

POSITION SIZE = 20 / 10 = 2


THIS HAS BEEN POSTED MORE THAN ONCE IN THIS THREAD.

 
  #139 (permalink)
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!

The first red bar /day low and the 2 green after are not a valid entry? Should the second bar after the green first go lower ? thnx

 
  #140 (permalink)
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Dutchtrader;7471[I
]The first red bar /day low and the 2 green after are not a valid entry?[/I] Should the second bar after the green first go lower ? thnx


Yes, that was a valid entry.


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