Never Lose Again!! TheRumpledOne

[mcmillan 10]

TRO,

 

I'm a new member here at TL , but have been "lurking" for a while Currently I'm demo testing the SweetSpot method with the 00,25,50,75 horizontal lines. Trading has been slow during the holiday season, but I've noticed something perhaps you can assist .

 

My question is : what to do when the H1 bar closes at or near one of the horizontal lines? How do I know to buy or sell at the opening of the next H1 bar? To nail this down, let's say we have a green (up) bar that closes at/near 1.6000 on Cable - how do I know to buy or sell at 1.6000? Do I just put buy stop at 1.6025 , sell stop at 1.5975? ( i've been testing with GBP/USD)

 

Please advise. My apologies if this question has already been covered.

 

Thanks in advance,

mcmillan

[dovetree 10]

WHat I'm amazed at is the number of times you would be buying the highs and selling the lows following these scalping methods and the fact that people still try to pump this.

[rigel 10]

Strange statement from someone whose first post was on February 12 2009...

 

Svensa, I recall getting into loggerheads with you in the past. It is quite amazing that you were promoted to the status of a moderator despite the fact that you have not made a single positive contribution to this site but have become proficient and adept at tracking /shadowing/stalking other folks like Dbphoenix, Bearbull, and now it is me. and to top it all, it is ironically that you also have one or two followers to pat you on your back and add to your tally of thanks on your record:)

 

Way back in Feb or any other period, I many have come in here and looked at some threads, made a remark here or there and then focussed on topics which were more important to my trading ie. Taylor Methodology and Wyckoff

 

Recently I had time so I decided to check out TRO, and obtain some clarification which is constantly getting interrupted by moronic remarks like yours, thus extending the length of this thread and making it difficult to have a meaningful exchange with TRO,

surely that is not a crime unless Soultrader has now elevated you to the grand status of a SITE POLICEMAN OR DEPUTY DOG

Refrain from jumping in like a spoilt child, think, employ some logic or take a course in logic before you spew out anything. This is an auspicious holiday period, why do you have to come in AND spoil proceedings to elicit further controversy.

If you cannot contribute anything positive, why not spend time constructively like focussing the mind on the teachings of some Great Sages like Christ or Buddha or Krishna or whoever you believe in

Edited December 31, 2009 by rigel

[rigel 10]

<-------------------------------------------------------------------->

 

Now, 2 patterns of market behaviour happen on a regular basis:

 

1) the price breaks to new high's (or low's)

 

2) the price reverses from new high's (or low's)

 

<-------------------------------------------------------------------->

 

If price is NOT making a new high then it must be reversing from the high.

 

If price is NOT making a new low then it must be reversing from the low.

 

GREEN RAT REVERSAL TRADE

 

1) price within 20 pips of the daily low - that is OPPORTUNITY

 

2) red/black candle closes

 

3) green/white candle closes - note the high price of the green/white candle

 

4) enter long at the green/white candle's high price

 

5) STOP LOSS IS 10 PIPS

 

6) Take whatever profit you can.

 

<-------------------------------------------------------------------->

 

RED RAT REVERSAL TRADE

 

1) price within 20 pips of the daily high - that is OPPORTUNITY

 

2) green/white candle closes

 

3) red/black candle closes - note the low price of the red/black candle

 

4) enter short at the red/black candle's low price

 

5) STOP LOSS IS 10 PIPS

 

6) Take whatever profit you can.

 

<-------------------------------------------------------------------->

 

You are either a RED RAT, a GREEN RAT or a YALE STUDENT. If you do not understand the reason you can not be both a red rat and a green rat then you are YALE MATERIAL:

 

o.k So TRO, back to our discussion,

1. From above it appears that the basic strategy, correct me if I am wrong, isf fading the high or low of 60min bars, or is it the high/low of the current trading day range

 

2. Also having looked at the link you pasted (forex site), I am still not clear about the 3 or 2 or 1 Zig Zag levels, again you mention indicator, what are the parameters you incoporate to arrive at these swings, ie. based on which or what price action, since pure price action is your core strategy.

Edited December 31, 2009 by rigel

[TheRumpledOne 14]

o.k So TRO, back to our discussion,

1. From above it appears that the basic strategy, correct me if I am wrong, isf fading the high or low of 60min bars, or is it the high/low of the current trading day range

 

2. Also having looked at the link you pasted (forex site), I am still not clear about the 3 or 2 or 1 Zig Zag levels, again you mention indicator, what are the parameters you incoporate to arrive at these swings, ie. based on which or what price action, since pure price action is your core strategy.

 

1) time frame has nothing to do with this.

 

2) the default parameters.

[TheRumpledOne 14]

 

Nice run off the bottom

[TheRumpledOne 14]

 

Remember what H. Rearden said:

 

Now, 2 patterns of market behaviour happen on a regular basis:

 

1) the price breaks to new high's (or low's)

 

2) the price reverses from new high's (or low's)

[TheRumpledOne 14]

 

THIRD TIMES A CHARM...

[rigel 10]

TRO

 

1. I am not bothered about what Rearden or anybody else said, my question is pertinent to what you are posting. If it has nothing to do with timeframe, then how are you determining high and low of the bar, any bar has to be in some timeframe:))

 

2. What does "default parameters" mean. I requested clarification, after about 4posts I am none the wiser.

 

3. It appears that you alone understand the methodology and are having problems getting it across to the readers here. perhaps you need to make some effort in expanding on your comments.

[TheRumpledOne 14]

 

Déjà vu

[forrestang 10]

TRO

 

1. I am not bothered about what Rearden or anybody else said, my question is pertinent to what you are posting. If it has nothing to do with timeframe, then how are you determining high and low of the bar, any bar has to be in some timeframe:))

 

2. What does "default parameters" mean. I requested clarification, after about 4posts I am none the wiser.

 

3. It appears that you alone understand the methodology and are having problems getting it across to the readers here. perhaps you need to make some effort in expanding on your comments.

 

TRO is sometimes vague, maybe I can help......

 

1. High or low of the bar is just that, the 'high' or 'low' of the bar.

 

2. Use a 15min chart, if you want less trade on an hour chart.

 

3. Explanations are always vague.

 

The explanations though are rather simple. And with all the TRO indicators, he does tell you EXACLTY what they are doing. TRO just puts in cute little graphical representations that make people think it's something special, like it looks like that little square is the zone that is 20 pips within the day's High and the days low. He's also added a counter to tell you how many pips off the low price has come each time it falls down there.

 

If you wanted to trade this way, you don't even need the indicator. Just wait for price to get within 20 pips of the days low, wait till you see a bar that has a close greater than it's open(an up bar), note the highest price of the bar. Enter on a buy stop right above that bar. And ONLY trade in one direction, ALL OF THE TIME. Set a daily goal and do not trade all day. The point is to compound your account by a % each day. Rather simple strategy right?

 

The stop loss is posted.

 

Now..... trade management is the MOST IMPORTANT PART. This is something TRO DOES NOT explain. But for the most part, most people don't explain how to manage the trade or money. So this is something you'll have to figure out.

 

Possible suggestions:

-Go for a fixed target maybe to give a favorable r:r

-Trail stop on bar lows

-exit on two reversal bars

-target a prior resistance point

 

You'll be stopped out from time to time of course.

[TheRumpledOne 14]

 

PRICE ROSE THROUGH LAST WEEK'S LOW...

[TheRumpledOne 14]

 

OPPORTUNITY...

[TheRumpledOne 14]

 

Remember what H. Rearden said:

 

Now, 2 patterns of market behaviour happen on a regular basis:

 

1) the price breaks to new high's (or low's)

 

2) the price reverses from new high's (or low's)

[forrestang 10]

Thanks forrestang, actually I am not looking to trade forex or immediately incorporate TRO method or any trade management guidance.

I trade index futures with sound methodology of Wyckoff, Taylor and recently some of the excellent concepts of Al Brooks

What I was curious about when I read all this controversy here is why it has lasted so long, hence the probe into TRO method.

1.) You mentioned about vague explanation, this need not be the case, instead of all these chart after chart in every post with large claims which could be construed as sheer arrogance, why not make an effort to elucidate, elaborate when questions are put.

 

2) Secondly what is the point when by now TRO should have recognised the fact that he or she is the only one understanding the method, the rest of the readers in here are totally bewildered.

 

3) I for a fact am not any wiser, when you say "When price reaches within 20pips of the Low of the day", how do we know it is going to be the Low of the Day and not just a pause before further move to the south.

 

4) Again "Trade in one Direction" for the rest of the day, what when it is a trading range day, up and down swings.

 

5) So you can appreciate that rather than any meaningful discussions, the thread is just lengthening because of vague explanations, pointless, would'nt you say:)

In this respect TRO needs to have a look at Wyckoff forum, Taylor thread, Thalestraders "Reading charts in Real Time"

 

6. What is the purpose of just pasting large charts, feeling good about proving other folks wrong or right, if you are making money why bother to engage in daily exchange which is not productive, does not contribute anything to the site and has no benefit to other traders. All it does is provide a fertile ground for daily pissing contest;)

 

I am not trading any of this either. But I do understand the simplicity of it. And whether one is successful or not will simply come down to trade/money management. I'm not saying this about any particular person, but internet traders real or fake don't bother me, because I just assume EVERYONE is a fraud and has ulterior motives until I see otherwise(live trading). Nothing personal towards any one person, just put off a bit by the online trading community I suppose. So seeing people talk about trading systems, or merchants that claim to sell something doesn't bother me anymore, cause I realized that very few people are out to help others, so I just don't care who claims to do this or that anymore. It has removed a great deal of stress from my perception of people.

 

Anyways I digress.....

 

1.) I agree with you, which is why I said there is a lot of vagueness there.

 

2.) The methodology is simple. Statistically he believes that price is within the daily low by 20 pips, it will reverse from that point by some movement. It is jsut a way to 'pick a spot' and trade through it. At some point price will stop and reverse, it has to. Until that point it just goes down..... so on big down days you will probably lose, depending on how you manage the trade.

 

3.) You don't know if the LOD print is there. But that's no different that ANYTHING else. We never know what price is going to do. So in this case you're just playing the probabilities. There are filters you can apply if you'd wish.

 

4.)When I say trade in one direction, I mean 100% of the time. Not for the day, or the week, but ALL THE TIME. If you want to trade this method, you are always either long or short. Pick one and stick with it. This method is obviously geared for simplicity.

 

5.) I agree, this thread is vague. I think the methodology is simple enough though and doesnt need much explanation, unless someone is going to discuss trade management, i.e. when to take profits, when to exit etc. That's what is missing. But I suppose that's hard to teach someone. And that's what its all about, is how you manage a trade, no matter what the methodology.

[sevensa 10]

 

Svensa, I recall getting into loggerheads with you in the past. It is quite amazing that you were promoted to the status of a moderator despite the fact that you have not made a single positive contribution to this site but have become proficient and adept at tracking /shadowing/stalking other folks like Dbphoenix, Bearbull, and now it is me. and to top it all, it is ironically that you also have one or two followers to pat you on your back and add to your tally of thanks on your record:)

 

Way back in Feb or any other period, I many have come in here and looked at some threads, made a remark here or there and then focussed on topics which were more important to my trading ie. Taylor Methodology and Wyckoff

 

Recently I had time so I decided to check out TRO, and obtain some clarification which is constantly getting interrupted by moronic remarks like yours, thus extending the length of this thread and making it difficult to have a meaningful exchange with TRO,

surely that is not a crime unless Soultrader has now elevated you to the grand status of a SITE POLICEMAN OR DEPUTY DOG

Refrain from jumping in like a spoilt child, think, employ some logic or take a course in logic before you spew out anything. This is an auspicious holiday period, why do you have to come in AND spoil proceedings to elicit further controversy.

If you cannot contribute anything positive, why not spend time constructively like focussing the mind on the teachings of some Great Sages like Christ or Buddha or Krishna or whoever you believe in

 

Wow, what a response to a simple observation. I've just pointed out this is strange. Obviously it hit a nerve and it is quite funny how much you all of a sudden remember now about the past. I am also impressed and slightly flattered that you've read all my posts since you've "stumbled on this site over the holidays". I am sorry to hear that you found all of them without any value though. What an unfortunate waste of time this must have been for you. Can I suggest that you use the ignore functionality? This will save you a considerable amount of time.

 

Calling someone out on a lie is hardly stalking, but I can see how you would prefer to see it that way.

 

Lastly, I would suggest that you look at your response to my simple observation and especially your recommendation about logic and see if maybe you might value in following your own advice. My response was based on a fact. Not sure what was not logical about that? Yours on the other hand...

[TheRumpledOne 14]

 

AND AGAIN...

[rigel 10]

wow, what a response to a simple observation. I've just pointed out this is strange. Obviously it hit a nerve and it is quite funny how much you all of a sudden remember now about the past. I am also impressed and slightly flattered that you've read all my posts since you've "stumbled on this site over the holidays". I am sorry to hear that you found all of them without any value though. What an unfortunate waste of time this must have been for you. Can i suggest that you use the ignore functionality? This will save you a considerable amount of time.

 

Calling someone out on a lie is hardly stalking, but i can see how you would prefer to see it that way.

 

Lastly, i would suggest that you look at your response to my simple observation and especially your recommendation about logic and see if maybe you might value in following your own advice. My response was based on a fact. Not sure what was not logical about that? Yours on the other hand...

 

And A HAPPY AND PROSPEROUS NEW YEAR TO YOU TOO

 

make an attempt to post something about your own methodology, charts ETC and engage in meaningful productive discussions for a change instead of going around various threads and instructing other traders. Examine how many out of your 500 posts actually constitute discussion of specific method of your own.

 

anyway good luck for the year

Edited January 1, 2010 by rigel

[rigel 10]

I am not trading any of this either. But I do understand the simplicity of it. And whether one is successful or not will simply come down to trade/money management. I'm not saying this about any particular person, but internet traders real or fake don't bother me, because I just assume EVERYONE is a fraud and has ulterior motives until I see otherwise(live trading). Nothing personal towards any one person, just put off a bit by the online trading community I suppose. So seeing people talk about trading systems, or merchants that claim to sell something doesn't bother me anymore, cause I realized that very few people are out to help others, so I just don't care who claims to do this or that anymore. It has removed a great deal of stress from my perception of people.

 

Anyways I digress.....

 

1.) I agree with you, which is why I said there is a lot of vagueness there.

 

2.) The methodology is simple. Statistically he believes that price is within the daily low by 20 pips, it will reverse from that point by some movement. It is jsut a way to 'pick a spot' and trade through it. At some point price will stop and reverse, it has to. Until that point it just goes down..... so on big down days you will probably lose, depending on how you manage the trade.

 

3.) You don't know if the LOD print is there. But that's no different that ANYTHING else. We never know what price is going to do. So in this case you're just playing the probabilities. There are filters you can apply if you'd wish.

 

4.)When I say trade in one direction, I mean 100% of the time. Not for the day, or the week, but ALL THE TIME. If you want to trade this method, you are always either long or short. Pick one and stick with it. This method is obviously geared for simplicity.

 

5.) I agree, this thread is vague. I think the methodology is simple enough though and doesnt need much explanation, unless someone is going to discuss trade management, i.e. when to take profits, when to exit etc. That's what is missing. But I suppose that's hard to teach someone. And that's what its all about, is how you manage a trade, no matter what the methodology.

 

Thanks again Forrestang,

yes I realise TRO is trying to outline a simple method but in reality making a bigger job of it than what it should be.

1. As for Trading in one direction, it is very much also the core strategy in Taylor's method where days are designated as BUY, SELL and SELL SHORT DAY, ofcourse this does not mean just buy on BUY DAY and sell of other 2 days, there are rules to govern trading in his method and very much misunderstood generally, infact his publication is almost unreadable, Taylor was first and foremost an accomplised trader and not much skilled at explanation.

 

2. So in that respect I was prepared to give TRO the benefit of doubt but after 5 or so post, I feel I am not going to make any headway. I simply wanted to understand his method in the light of what I already utilise ie. pure price action.

 

3. Recently in terms of simplicity Al Brooks trading style, simply using a 5min chart with a 20MA based purely on price action stands out, the other one being the Wyckoff Forum here where if you notice, nobody as such is trying any hard sell tactics, least of all DBphoenix, infact he has a short publication (pure gem) which he does not advertise at all, OTOH has made a ton of invaluable material available for free. Unfortunately new traders have a mindset of seeking something expensive viewed as of value, anything free has to be rubbish;)

 

4. As for TRO I really fail to understand, almost seems to take bizzare delight in pasting large charts day after day, as if to taunt his critics here

"he, he, he, look I am making a ton of dosh daily, here are my charts, bet none of you morons can figure out what my method is, I walk majestically like an Elephant while you lot keep barking like dogs all day long".

Well if he gets his kicks out of that who am I to object to that vicarious pleasure:)

 

HAPPY NEW YEAR TO YOU AND TRO AND BEST OF LUCK FOR 2010

Edited January 1, 2010 by rigel

[TheRumpledOne 14]

 

OPPORTUNITY...

[TheRumpledOne 14]

 

4. As for TRO I really fail to understand, almost seems to take bizzare delight in pasting large charts day after day, as if to taunt his critics here

"he, he, he, look I am making a ton of dosh daily, here are my charts, bet none of you morons can figure out what my method is, I walk majestically like an Elephant while you lot keep barking like dogs all day long".

Well if he gets his kicks out of that who am I to object to that vicarious pleasure:)

 

HAPPY NEW YEAR TO YOU AND TRO AND BEST OF LUCK FOR 2010

 

The charts show OPPORTUNITY and RESULTS. The entry rules have been posted. My stop loss and risk/money management method have been posted. You don't have to "figure out my method" - I gave it to you! Charts are posted to illustrate the method.

 

There is no "taunting" except when someone posts something negative about me in my thread to get me to respond.

[TheRumpledOne 14]

 

OPPORTUNITY...

[TheRumpledOne 14]

[TheRumpledOne 14]

 

OPPORTUNITY...

[TheRumpledOne 14]