NEVER LOSE AGAIN!! TheRumpledOne

[Gumping]

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

Not that good just yet....I'm only 1 pip up on the day (Better than 1 pip down!) and this hour's trade is floundering.....

 

[bunnygirl]

I'm using a 30 pip stop loss, because at that level it would be officially long and I'll stop and reverse if it gets there

Bunny

p.s. notice how it stopped at the 50 line (so far)

p.p.s. if it breaks 1.2625 again I'm targetting 1.2565

 

[Gumping]

Interesting filter Bunny - so you used the fact that the 5 min had 4 red candles in a row to filter ou the entry? But then entered on the re-test after the green candle?

 

[bunnygirl]

Does anyone look out for pinbars? there's a terriffic one on 30 mins eurusd indicating it's going down....Time will tell

Bunny

 

[bunnygirl]

Interesting filter Bunny - so you used the fact that the 5 min had 4 red candles in a row to filter ou the entry? But then entered on the re-test after the green candle?

yes that's exactly what I did Gump

Bunny

 

[trendie]

taking a step back from all these individual trades....

in a day, from 7-am onwards, you have the option to take, perhaps 10 trades;
maybe 7-8 are clear signals, the others you may pass on (say, for example, 3 reds/greens, and you may decide to pass if you're not sure about taking a reversal, or price is too close to a signal line); although you could obviate this by looking at more than 1 pair and only go for clearest signals

you maybe risking 25 pips unless you use a lower time-frame to finesse your stops

how many pips per day would you need to make to say this is a viable long-term strategy?

EDIT: I forgot! good stuff, Bunnygirl and Gumping on your trades today, and showing your thoughts on them.

 

[bunnygirl]

I'm not sure if this allowed, but I've stopped & reversed at 1.2654 (-30 on the short)

Bunny

target to the upside is our old trendline on the hourly chart...

and I'm placing my stop at 1.2639 for a max loss of 15 pips if it gets there...reason : it's a few pips below this hour's open and I don't want to take another -30 if it can't decide where it wants to go.

 

[Gumping]

taking a step back from all these individual trades....

in a day, from 7-am onwards, you have the option to take, perhaps 10 trades;
maybe 7-8 are clear signals, the others you may pass on (say, for example, 3 reds/greens, and you may decide to pass if you're not sure about taking a reversal, or price is too close to a signal line); although you could obviate this by looking at more than 1 pair and only go for clearest signals

you maybe risking 25 pips unless you use a lower time-frame to finesse your stops

how many pips per day would you need to make to say this is a viable long-term strategy?

EDIT: I forgot! good stuff, Bunnygirl and Gumping on your trades today, and showing your thoughts on them.

Good question. This is what I'm wrestling with. The whole 'go with 2 positions, let one run and TP on the other' idea should allow you to catch some pips (e.g. in the last hourly where I F'ed up with my SL placement) to increase the net profitability. It is a bit nerve-wracking to go for 5-10 pips each time when risking 25 pips as we are currently....time will tell what the real expectation is with this style of trading. And that's what demo accounts are for

I did a S&R too Bunny - I'm now down for the day.

-**Update. Half the position stopped out for +7 pips at 1.2660. Other half SL set to BE and running....

 

[UKtradergirl]

Bunnygirl- in reference to your earlier post to me (sorry i couldn't respond earlier i had some things to do this morning):-

I am not a 'beginner'. I trade full time. I am merely playing 'devil's advocate' in pointing out possible areas of uncertainty in the hopes of clarifying some things- i am sure others who have read this thread have had similar questions.

For the record: i am not discrediting TRO's strategy(ies) at all. In fact for all i know they might be brilliant. I was just hoping to flush out answers to inconsistencies. You are obviously combining some of your own TA with TRO's strategies- and i applaud you for doing so and that is brilliant if it works for you. Making a profit is all that counts at the end of the day.

I see that questioning personalities are not welcome here. Hence, i will move on. I sure have much more exciting things to do than hang around a thread with a title such as 'NEVER LOSER AGAIN!' talking to people who do not understand that it is good and OK to examine things closely and ask questions.

So, good luck with your trading. To newbies: take as much as you can of this thread and use it- but be careful. TRO has been banned from many trading sites and boasts about this on another forum. I'll leave the rest for you to research Oh, and it is OK to ask questions- just go somewhere else to do it

As for me i will continue to ask questions, 'think outside the box' and research elsewhere. Yes, this applies to even my own strategies- learning is a constant process. I wish you all the best on your trading journeys. May you find here what you are looking for.

Have a great day all

 

[rols]

taking a step back from all these individual trades....

in a day, from 7-am onwards, you have the option to take, perhaps 10 trades;
maybe 7-8 are clear signals, the others you may pass on (say, for example, 3 reds/greens, and you may decide to pass if you're not sure about taking a reversal, or price is too close to a signal line); although you could obviate this by looking at more than 1 pair and only go for clearest signals

you maybe risking 25 pips unless you use a lower time-frame to finesse your stops

how many pips per day would you need to make to say this is a viable long-term strategy?

EDIT: I forgot! good stuff, Bunnygirl and Gumping on your trades today, and showing your thoughts on them.

Er we've all been here before. On reading the last few days posts on here I was reminded of a previous TRO fest from the All you need is a horizontal line thread.

The below is an email I received from a fellow trader who is one of the few retail FX traders I know who makes a seriously good living from FX. I shall repost here for the benefit of whom he refers to as the less savvy/greener traders.

All that glisters is NOT gold etc......

Just been exchanging emails about the vagaries and deceptions of MMs and Brokers with a fellow trader, and the BUY ZONE and TRO came into the mix. This is what he had to say about TRO and his wares. I have nothing against TRO, in fact I admire his huzpah; though I think the less savvy/greener traders may like to be aware of the below.

I know TRO has already declared himself to be an Introducing Broker for whatever FX bunch he champions, but what I hadn't peviously realised is that with his unique scalping machine via his multi-coloured, ready to go, plug-n-play MT4 indicators he has rather cleverly hypnotised some of the weak willed into using, he's setting himself up a very nice little number, without too many realising it I suspect.

How do you tell them?

They sit at their screens for 8 hours a day, waiting for a green bar to form thru the BUY ZONE or a red bar to form thru the SELL ZONE, so they can scalp 3-6 pips (after spread 0-3 pips for most). Gruelling...

They think this is where the action is - 5 min bars, 1 min bars. Rubbish.

Scalping can't work long term in current markets - especially FX. But of course, the business model of most MMs/Brokers is not to develop a long-term relationship with the client, but to extract their funds from them as quickly as possible. This is far better facilitated by more rather than fewer trades, and preferably with as high a gearing as the mug punter can belive his luck to have been offered.

For those who don't have a systemn to call their own, this looks the Dobs BooBoos...lots of colours, lots of action, loads of trades. And of course, some will get lucky, for a week, or a month, or two. But not long term, not consistently. But they're paying spread or 'very small' commission on every one of those scalps and making the MM/Broker probably as much as they do on their good trades. The MM/Broker doesn't share the same fate on the losing trades - they still make their spread/commission of course.

TRO doesn't really need to trade. He captures the spirit with his glossy indicators, introduces them to SharkFX (any broker, MM for that matter, probably OANDA included) and gets a small commission on every trade they do - until they run out of money. But by stoking up the various bulletin boards, he rarely runs out of new takers. No wonder he's been banned from so many forums - they caught on to him. I wonder why that didn't sit well with me when I first read it - why would any trading site NOT want someone around whose only aim was to help other traders? LOL.

It's a slick, shrewd and clever little wheeze and I wished I had thought of it.

JJ

 

[bunnygirl]

I havn't read any of TRO's other threads so I couldn't comment on any of his other methods, this is the only one I've come across. It happens to suit my trading style and fit in with what I normally use so that is why I'm here posting.

Bunny


btw the long at 1.2654 is still running..it did reach +11 at one point, but I havn't taken any profit yet, I'm still aiming for that trendline.

 

[bunnygirl]

I've closed the long at 1.2649 for -5 and am now in short with the new hour at 1.2649

Bunny

 

[bunnygirl]

We've got 6 hourly green bars in a row now...what happens next?

Bunny

 

[bunnygirl]

If the 1.2625 can break again I'm still thinking that it could drop to 1.2565

Bunny

p.s. a scalper would have 10 pips in the bank by now

 

[JTrader]

Er we've all been here before. On reading the last few days posts on here I was reminded of a previous TRO fest from the All you need is a horizontal line thread.

The below is an email I received from a fellow trader who is one of the few retail FX traders I know who makes a seriously good living from FX. I shall repost here for the benefit of whom he refers to as the less savvy/greener traders.

All that glisters is NOT gold etc......

Exactly!

Congratulations on having a memory span of more than 6 months. Thats more than a goldfish you know

 

[Gumping]

Yes - I banked on the scalp, set the other position to B/E and that has now triggered. So I'm flat, with +8 pips.

 

[Gumping]

So on the day I'm -69 on the losers
+31 on the winners.

A -15 loser was poorly traded, and could have made about +25 if I'd followed what I've been doing latterly with letting positions run - it would have been the only runner.

That would bring me to +56 / -55

i.e. roughly breakeven

Edit - sorry, that sounds arrogant. I have lost pips so far...bottom line.

 

[TheRumpledOne]

Er we've all been here before. On reading the last few days posts on here I was reminded of a previous TRO fest from the All you need is a horizontal line thread.

The below is an email I received from a fellow trader who is one of the few retail FX traders I know who makes a seriously good living from FX. I shall repost here for the benefit of whom he refers to as the less savvy/greener traders.

All that glisters is NOT gold etc......

ATTACK THE MESSENGER!!

BunnyGirl and Gumping, what's wrong with you? Why are you sticking around and making money with this method? Didn't you see this posts WARNING YOU about me and my methods? BEWARE TRO!!

 

[foredog]

what is?

 

[TheRumpledOne]

UkTraderGirl:

It's OK to ask POLITELY.

When you have "veiled attacks" embedded in your questions, expect me to counter attack, it's that simple!!

The only inconsistencies are in your own mind.

It should be OBVIOUS TO THE READER, that if SOME people can make money using this system, then the fault doesn't lie with the system.

A trader must find what works for them. So UkTraderGirl, if my simple HORIZONTAL LINE and CANDLE COLOR system does NOT work for YOU, then find another system. There are plenty of SQUIGGLY LINE systems out there just waiting for you.