NEVER LOSE AGAIN!! TheRumpledOne

[bunnygirl]

2 green 5 min bars so far...will it go for a 3rd??

Bunny

 

[bunnygirl]

the 3rd bar was red.... another observsation though...the price didn't go lower than the previous 5 mins

Bunny

if "daily pivot" isn't a banned phrase on this thread, at the time of typing this it was holding as support, but now I see it has been broken again

 

[Gumping]

Did you get that one Bunny?

I've got the 5min up to look at what I s'pose TRO referred to as 'order flow' - or price action as I call it: S/R levels, etc.

It screamed at me that the long trade would be a strong breakout, even though there are 3 green candles preceding and a short is being looked for. So I made sure my entry was a couple of pips above the 25 line so as not to get suckered. And in I got!

 

[Gumping]

the 3rd bar was red.... another observsation though...the price didn't go lower than the previous 5 mins

Bunny

It was an inside bar - signals consolidation. Just like our previous hourly bar, which we have just (unintentionally) traded the breakout of....

I LOVE PRICE ACTION!!!

 

[bunnygirl]

Bunny

 

[TheRumpledOne]

So now you are saying she should have gone short when the candle was actually still green? Is it now "see GREEN go SHORT take PROFIT" as well as the previous version?

Now you're having a laugh.

Like I said, let's not get ahead of ourselves.

Ever see THE MATRIX?

Remember, NEO didn't have to dodge bullets at the end!!

 

[TheRumpledOne]

Thanks for the contribution, bunny

Anyway, i think they do help- as my previous post is once again seeking to clarify yet another glitch i have spotted in the 'rules'.

TRO makes a big thing of this being simple for anyone to follow- infact, simpler for people who have no knowledge already. Well, i'm assuming i have no other knowledge when i ask these questions- and they are very legitimate questions, based on the topic under discussion.

I re-state my prior question: So now you are saying she should have gone short when the candle was actually still green? Is it now "see GREEN go SHORT take PROFIT" as well as the previous version?

Either you want to LEARN or to try to prove me wrong. Which is it?

All the candles do is help you SEE which way price is moving.

But if you can SEE which way price moving, you don't need candles at all. Ever hear of a TICK CHART?

 

[TheRumpledOne]

I suppose the main problem is that there's no "system" as such, just an entry trigger. I think your critisism is quite reasonable, when the only fixed rule in the system is subject to what really amounts to arbitary modification. I'm not critisising bunny's trade, the bounce from the trendline was an obvious play, but it was a different trade set up altogether, and the attempt to spin that as a modified "psychological level" trade is stretching credability a tad too far. I'm pretty sure I could find dozens of TRO's psychological level trades where price smashes through a variety of support and resistance levels, trendlines etc. So unless an additional rule is included to specify which S/R zones should be ignored, and which should be faded, then we're back to trading a discretionary system.

You'll notice that on any thread where TRO's systems are traded systematically (by which I mean traded mechanically in accordance with clear rules for entering and exiting the trade), they basically fail (check out the buy line thread as an example).

That doesnt mean that the idea's dont have merit, but they do need the application of discretion.

Lets watch how this next one plays out on EURUSD, either short 1.2600 or long 1.2625

Once again, ATTACK THE MESSENGER.

What's the reason you are reading this? It's obvious you're not here to learn.

 

[TheRumpledOne]

Nice going, Gumping.

See what's possible when you are here to LEARN!!

Thanks for posting.

 

[Gumping]

Oh dear! In this hour at 1.2653.

Moved my SL up based on the 1 min TF - and was stopped out by 1 pip for -15 at 1.263. If SL was left alone, the trade would still be in play, but losing...

 

[bunnygirl]

Oh dear! In this hour at 1.2653.

Moved my SL up based on the 1 min TF - and was stopped out by 1 pip for -15 at 1.263. If SL was left alone, the trade would still be in play, but losing...

the last 4 hours have been green, I'm thinking of taking the short below 1.2625 if seen this hour.

Bunny

p.s but now I'm thinking about it because it hasn't made the high of the last 21 bars

 

[Gumping]

Well smack on the wrist for me - would have been a profit if I handn't meddled with the SL.....

 

[bunnygirl]

Here's my observation of the 5 min chart:

Bunny

 

[Gumping]

Here's my observation of the 5 min chart:

Bunny

I moved my SL up 2 pips behind the first of the four red bars after the possible 5 pip profit. - Should have left it at 25!!

 

[bunnygirl]

Are traders anticipating another hit of the old trendline?

Bunny

 

[bunnygirl]

time flies! another new hour and 5 green hourly bars in a row...what happens next?

Bunny

 

[bunnygirl]

This hour opened at 1.2643...the 5 min bar that hit the entry was the 4th red in a row....did you stay out of trouble?

Bunny

now we've got a green bar....if entry breaks again I'm going for it

 

[Gumping]

This hour opened at 1.2643...the 5 min bar that hit the entry was the 4th red in a row....did you stay out of trouble?

Bunny

now we've got a green bar....if entry breaks again I'm going for it

In by one tick (1.2623 - low of 1.2622). My hands are well and truly sat on - let's let this one play out.

 

[bunnygirl]

ok I'm in at 1.2624

 

[rathcoole_exile]

this thread is really starting to rock !
good work bunnygirl & gumping