TheRumpledOne

Thanks for sharing, Eiger.

Not to be rude, but you are on the net - Google!! Many forums frown upon people posting links to other forums. They have their reasons. It's their forum so I must play by their rules otherwise I get banned. And many know that I was "Born to be Banned"...LOL!!

Why can't we see what price is doing? Price is either moving up, moving down or not moving at all. What is wrong with our eyes that we can't see what price is doing? It's so simple, price is either moving or standing still. Why do we need colors to know which way price is moving? Does adding a line really make it easier to see what price is doing? Well, if adding one line makes it easier then adding more lines should make it even easier, right? Why can't our eyes see the "trend"? Maybe adding another chart will help us see... Naturally, if adding another chart makes it easier, we should add more. If only someone would tell us the "magic" numbers to use... Price either climbs up or down a "stair". You mean to tell me I can think of price going up and down stairs? IT CAN'T BE THAT SIMPLE!!

I have incorporated some of the VSA tools into DRAIN THE BANKS REV 8. I use the STOPPING VOLUME "X"s to alert me to a possible reversal. P.S. why would anyone want to derail this educational thread?

2009.06.17 DRAIN THE BANKS REV 8 New additions include the BetterVolume 1.4_TRO_MODIFIED_VERSION, TRO_STOPPING_VOLUME and TRO_MM_STOPPING_VOLUME. For those of you who where having problems with REVERSAL TRADES, these indicators should help you. When you see an "X" on top of or next to a semafor, that is an indication to look for a reversal trade. The TRO_MM_STOPPING_VOLUME shows the status of the TRO_STOPPING_VOLUME on all chart periods. FREE MT4 version of DRAIN THE BANKS, including SOURCE CODE and TEMPLATE, have been posted.

The VSA indicators in the above chart have been posted on the net for FREE. I only post my indicators on one forum so maintenance doesn't become a full time job.

I have modified and fixed some existing VSA indicators to be more user friendly. And I have created a few of my own based on what I have learned about VSA so far. All of these have been posted on the net for FREE. Of course, you wouldn't use all of them at once. The most profitable one for me is the STOPPING VOLUME and the MultiMeter version of STOPPING VOLUME. It is a great reversal indicator.

I modified and created some volume spread analysis indicators.

Testing the latest version. The CDRW multimeter seems to be accurate.

Whoops, wrong chart!

Rev 8 coming soon. Notice the DO NOT REVERSE MESSAGES and the High/Low of the day lines.

I trade with MB Trading Direct Access Brokerage Firm They are an ECN. THERE IS NO FIXED SPREAD IN FOREX. You can google and find out what I really think about "FIXED SPREAD BANDITS". I'll leave it at that so I don't get banned. How do I avoid the spread? I explained this to someone yesterday in an IM. With MBT you pay a commission rather than having a "FIXED SPREAD". It's "apples and oranges" so don't try to compare. "THE MATRIX HAS YOU" and you need to "FREE YOUR MIND" to understand what I am about to explain. Let's say the current bid/ask is 1.5010 x 1.5015 The current spread is 5 pips. You want to SHORT. You SHORT at 1.5010. You set a TP at 1.5005. Bid/Ask becomes 1.5005 x 1.5009 and the current spread is 4 pips. At MBT, you will get filled if the bid is 1.5005 and someone TAKES your offer. Bid/Ask is now 1.5004 x 1.5009 and YOU HAVE YOUR PROFIT. Note: the ASK never reached 1.5005. THIS IS IMPORTANT! If you entered this order at a FIXED SPREAD BANDIT, whoops I mean broker, your order is STILL OPEN!! The bid/ask must become 1.5000 x 1.5005 and your order HITS the Ask. DO YOU GET IT? If not, then read this over and over and over again until the LIGHT BULB goes off!! The day I found out about MBT is the day I opened an account there and stopped trading with FIXED SPREAD BROKERS. The simplest thing to do is to load up a demo account at MBT Group and see it with your own eyes. When you place your TP Bid offer at 1.5005, your bid is displayed on Level II. The point is with MBT your offer gets hit. With FIXED SPREAD BROKERS you have to wait to hit their offer. Maybe this might help: First: 1.5010 x 1.5015 and price drops... 1.5009 x 1.5014 1.5008 x 1.5013 1.5007 x 1.5013 1.5006 x 1.5012 1.5006 x 1.5011 1.5005 x 1.5011 You may get hit 1.5005 x 1.5010 You may get hit 1.5004 x 1.5009 YOU COVERED 5 PIP GROSS PROFIT AND LET'S CONTINUE 1.5003 x 1.5008 1.5002 x 1.5007 1.5001 x 1.5006 1.5000 x 1.5005 YOUR FIXED SPREAD BROKER FILLS YOUR ORDER. Does that make it clearer?? What about the commission cost? The commission varies depending on the pair trading. It is $.50 per 10k minilot on USDJPY. So if I gross 2 pips, I am making money. From the MBT site: Commission Rates Fixed spreads are a way for FCMs to markup or markdown the best bid or offer. FCMs do this to hide their fee into the price of the currency pair instead of displaying their best quote. Common sense tells you that no one works for free, so when you see an FCM claim they have “no commission”, that should be a red flag. So how are they getting paid? Its simple: they are making money with the built-in markup/markdown in the spread. Our FCM, MB Trading Futures, has nothing to hide. They offer tighter spreads with no markups/markdowns and openly display a low commission rate. Commissions are based on total dollar amount traded: $5 per $100,000 traded.

Proper position sizing and proper risk/reward is what you need to focus on. The outcome of any particular trade is a random event... You win some, you lose some. If you have an edge, the only way to exploit the edge is to take every trade. You will come out ahead in the long run.

If you google "drain the banks" - you'll find it.

2009.04.21 TRO MULTIMETER BB TREND Someone sent me THIS and I created the TRO MULTIMETER BB TREND indicator.

Those are "donational" indicators.

1) Only trade if there is a 1, 2 or 3 semafor on the current or previous H1 candle. NO EXCEPTIONS. SINCE THE PREVIOUS H1 CANDLE HAS A SEMAFOR - GBPUSD IS IN PLAY. 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. YOU DON'T HAVE TO SWITCH TO M5, YOU CAN USE THE TRO MULTIMETER CANDLE COLOR. BUT ONE MUST DO IS TRADE WITH THE PRICE DIRECTION AT THE TIME. IF D1 AND H1 ARE GREEN BUT PRICE IS GOING DOWN THEN YOU SHOULD BE SHORT. JUST BE CAREFUL.

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.

Not every single trade will be a winner but over the long run, you will win. Download and listen to Mark Douglas http://www.4shared.com/dir/6465636/9a01d279/sharing.html

The charts are all MT4.

Just do what the latest version of TRO_DYNAMIC_FIBS_SR_Trail tells you to do and you'll be DRAINING THE BANKS. The code is in the NO MERCY! thread.