TheRumpledOne

Leading astray? I am not sure what you're on about. Bump: People can post their results on this thread, we don't need another thread. What the "backtesters" are missing is that NO ONE TRADES 24 HOURS A DAY! Try trading the London or NY session only and see if that improves things. Not to mention, how many total pips per day do you need? Once you hit your daily goal, QUIT! Also, in the challenge, I am just taking 5 pips. But why leave pips on the table if you can SEE what price is doing? Bump: Hey, I don't mind debate/discussion so long as it's ON TOPIC and polite. Once again, the new trader needs to learn how to identify and execute winning entries. After they master taking a quick 5 pips, then they will see win they should have stayed in longer and when exiting with 5 was smart. Thanks for posting and being polite.

Some of you may be wondering about the challenge I presented in another forum. OK, lets try to firm up the rules: Bunny's developed a bit of a following trading EURUSD, I have no objection to sticking with that, although if you'd rather a bit more volatility thats fine by me. I have no objection whatsoever if you'd like to pass up selected entries, if you wish to impose the additional constraint of taking every set up thats fine, but I certainly would not expect you to take trades that dont meet with your criteria Im fine with discretionary exits, although this of course means that verification by EA wont be possible, which pretty much invalidates the whole challenge for those who are critisising the "system" rather than the trader, but I'll play along How do you suggest we monitor your entries and exits, I assume posting in a forum is going to be problematic ? Lets take a look at the stats at the end of the week and decide if the sample population is sufficient to draw a meaningful conclusion. I don't want any wishy washy entries because then you'll use that against me in the future. I want YOU to pick the currency so I can't be accused of CHERRY PICKING the currency. The rules ARE firm: 1) We use the first 3 numbers that were posted by people since I asked as the PRICE ENDING NUMBERS. 2) We use an H1 chart to determine the candle color and trade direction. Close above open is GREEN CANDLE, close below open is RED CANDLE. 3) If the candle is GREEN and price moves UP to one of the prices ending in the random number then we go long. If the candle is RED and price moves DOWN to one of the prices ending in the random number then we go short. NO long entries on RED candles and NO short entries on GREEN candles. 4) We take the FIRST TRADE in each direction each hour. This means the maximum number of trades per hour is 2. One long and one short. We do NOT pass up or cherry pick trades. 5) If a line is never touched, then NO TRADE. 6) 5 Pips or more is considered a winning trade. 7) We will STOP LOSS at 20 pips OR if the candle changes color AND hits a price ending in one of the random numbers. For example if we are long at x.xx25 and the price never reaches x.xx30 and the H1 candle turns red and hits x.xx09 (assuming 09 is another random number) then we will stop out and reverse (assuming this is the first time x.xx09 was hit this hour). 8) We will trade the EURUSD unless this is NOT your favorite currency. Let me know if the rules need more clarification or explanation. MT4 indicators attached. challenge.zip

I don't code in NINJA but some of my indicators have been coded in NINJA by others. Just google.

Time frame doesn't matter. Post a chart or 2 showing what your questions are regarding the Fib SR. Use an H1 chart and plot horizontal lines at prices ending in 00, 25, 50 and 75. Look at how many wins you would have trading with the H1 candle color at the horizontal lines. Bump: No matter where I go, there's always at least ONE!

You trade at the HORIZONTAL LINES. If your broker messes with you, get another broker.

I have started other NEVER LOSE AGAIN threads in other forums... if you think this one is interesting, you ain't seen nothing yet!

The internet has plenty of FREE forex education.

THIS is who I use. Free charts, free feed. Reason? Simple!! Forex market bigger than futures market... NO CONTEST!

SEE GREEN CANDLE. SEE GREEN CANDLE AT 0.6450 GO LONG TAKE PROFIT. That's it. Those are all the steps to this.

RED AT 0.6450

I also trade equities and at times options. I do NOT trade futures. But I am sure you can do the same with the ES mini. Look at the last RED candle. SEE RED CANDLE SEE RED CANDLE AT 900.00 GO SHORT AT 900.00 TAKE PROFIT. Look at the 3 candles BEFORE the last RED candle... THEY WERE GREEN which means to look for a reversal!! See the green candle before the last red candle? SEE GREEN CANDLE SEE GREEN CANDLE AT 900.00 GO LONG AT 900.00 TAKE PROFIT. Understand?

I made another version of TRO HL HISTOGRAM that allows the trader to input a price and shows by how many pips price crossed that price. It only shows in the direction of the candle color. As you can see, trading with the H1 candle at 0.6600 would have been very profitable.

TRO MPMM EXITS Since I get asked about exits all the time, I wrote TRO_MPMM_EXIT. TRO_MPMM_EXIT will show you when it's time to start thinking about exiting your trade. There are 5 arrowheads that show exits based on: 1: CANDLE COLOR 2: HIGHER HIGH / LOWER LOW 3: CLOSE VS. PIVOT 4: CONTROL 5: CLOSE VS EMA(5) If 3 or more arrowhead colors match then the color of the pair show that color. If you are SHORT and the arrows are green EXIT If you are LONG and the arrows are red EXIT. Of course, if you THINK ABOUT IT, you can use this for entries, too but that's NOT what it was designed for.

HOW I DO IT I look at my TRO DASHBOARD BAR COUNT to see what pairs have 3 or more H1 candles in a row. Then I look at the TRO MPMM CANDLE COLOR indicator to see how far up/down price is from the H1 open. I also can see if the price is up/down for the day. Trading when H1 and D1 are the same color is usually profitable especially after a 3 bar reversal.

If next candle goes up and is GREEN at 4850 and 4850 is the FIRST LINE PRICE HITS, then you GO LONG at 4850.

The SHORT entry was at 4850. You want to enter at the FIRST LINE that PRICE HITS. Why wait another 25 pips?

Let's look at the horizontal line trade at the 00,25,50,75. See the last candle? It opened between 97.250 and 97.000 When price was 97.000 the candle was RED. Had you gone SHORT, you could have made money. That's all there is to it. Nothing more. SEE RED. SEE RED AT 97.000 GO SHORT AT 97.000 TAKE PROFIT. It's that simple. Here's another example. Price opened betwen 1.19000 and 1.19250. The candle was GREEN at 1.19250. SEE GREEN CANDLE. SEE GREEN CANDLE AT 1.19250 GO LONG AT 1.19250 TAKE PROFIT. Now, let's look at a reversal trade. The rule is wait for 3 or more GREEN H1 candles in a row to go SHORT on the next candle. The rule is wait for 3 or more RED H1 candles in a row to go LONG on the next candle. Look at the last candle. The 3 candles before it were RED. That means we wait for GREEN to go LONG. I know you see that long tail and are thinking about losses so let's look at the M5 chart with the H1 background colored in. Had you jumped in right at the open, you could have made a quick scalp. The next M5 candle was RED which means you should NOT BE LONG. Later during that hour, PRICE turned the H1 candle GREEN again and you can enter. Now, if you are an experienced trader, you could have gone long on the GREEN M5 candle at 1.55000 or go with the price flow at 1.54750. The main point to see is: TRADING AT THE HORIZONTAL LINE IN THE DIRECTION PRICE IS MOVING USUALLY GIVES YOU AN OPPORTUNITY TO TAKE PROFIT. Now, look back... see 3 GREEN candles in a row. What happened next? REVERSAL! Look back a little a little further. Do you see 3 GREEN candles in a row? What happened next? REVERSAL! Are you starting to see a pattern? THIS IS SIMPLE. DO NOT COMPLICATE IT.

ALL YOU NEED TO TRADE IS A HORIZONTAL LINE TRADING IS SIMPLE. There is an entire industry built around making you think it is complicated. All you need is a HORIZONTAL LINE on your chart to be a profitable trader. I bet you doubt me, don't you? Go long when the price moves UP to a price ends in 00, 25, 50 or 75. Go short when the price moves DOWN to a price ends in 00, 25, 50 or 75. IT IS THAT SIMPLE!! Look at the chart and see how many pips you can make when you trade with the H1 candle color. You can do this with stocks, currencies, futures, etc. Oh when to take profits? Where to place stops? Just DON'T BE GREEDY and use COMMON SENSE! Learn some money management. Pick ANY candle on the chart. 1) identify the color. 2) let the candle close 3) if the next candle is NOT the same color then: if the current candle is GREEN go LONG at the FIRST line it approaches if the current candle is RED go SHORT at the FIRST line it approaches When to exit? Usually, when price stalls. Stop loss? If price crosses the previous candle's midpoint. Does that help? So simple. If H1 candle closes green then on next red candle go SHORT at the line. If H1 candle closes red then on next green candle go LONG at the line. Be patient. Don't rush the trade. Don't be greedy and you can rack up the pips. Let me answer the WHIPSAW protester before they even get started. Of course, there will be price action around the x.00 and x.50 levels. That's what we are looking for and that's the reason we trade with the color of the H1 candle rather than the M1 candle ( M1 chart above ). Just use a little risk management and money management. Practice with 1 minilot or 0.1 minilot until you get the hang of it. One of the things you want in trading is an "edge". You are NOT going to win every trade. So you want something that gives you a edge. Casinos have edge in the range of 0.55 - 2%. That's all they need. My statistics show this edge is much higher. Choppy days? I love choppy days. So long as the average hourly range is over 25, that's all the edge I need. THINK ABOUT IT!! You can look for situations where this doesn't work... -OR- You can wait for the setup and walk away with a handful of pips. IT'S ALL UP TO YOU! The best trade is waiting for the reversal. When to get out? If you have profit, get out when you want to. You can always exit part of your position. Move stop up to breakeven and let the rest ride! Once again, the color of the previous candle makes no difference. YOU TRADE WITH THE CURRENT CANDLE COLOR. It is that simple. Don't make this simple trading method complicated. Once again, waiting for a reversal is the "safe" trade. You must trade in the moment. The past is over! All that matters is what price is doing now!! What would you do if all you had on your chart was the current candle? If the current candle is green would you short? If the current candle is red would you buy? Does this make it clearer? This is a safe trade for the new trader. But, whether or not you use the previous candle to decide if you are going to trade the current candle, YOU MUST FOCUS ON THE CURRENT CANDLE TO DECIDE WHICH WAY TO TRADE.

TRO DYNAMIC FIBS SR and hundreds of other TRO indicators are available for MT4 now!! You can use GOOGLE to find them.

Yes, the PSYCHOLOGICAL HORIZONTAL LINES can be applied to stock trading. Works for both daytrading and swing trading. But you need to trade VOLATILE stocks that have RANGE and VOLUME. AAPL and RIMM are 2 candidates.

Looking to see if there could be an "edge" in know if an hour bar has a tendency to be RED or GREEN

WHAT A GREAT SHORT AT 0.6650

A quick 20+ pips on the RED H1 CANDLE SHORT at 0.6650

The logic is the statistics. Just look at a chart with the HORIZONTAL LINES plotted. You can SEE that you can almost always make at least 5 - 10 pips from this trade. For H4, you would have to run the statistics to see how long to stay in.

I used the FXCM FREE micro account. I have been playing with that platform this week. It's part of the CNBC trading contest. My usual broker is MB TRADING. How could they ROB ME BLIND? If you use LIMIT ORDERS, you can only get filled at the limit price or better. If you use MARKET ORDERS and are quick enough, they either accept your deal at the market price or they reject your deal.