NEVER LOSE AGAIN!! TheRumpledOne

[north5]

In the interest of settling the matter fairly as this is a mechanical system I am happy to code this as an EA next week and run it on a demo account. If someone could post a straightforward statement of the rules it should be quick and easy to knock together and test.

 

[zupcon]

In the interest of settling the matter fairly as this is a mechanical system I am happy to code this as an EA next week and run it on a demo account. If someone could post a straightforward statement of the rules it should be quick and easy to knock together and test.

That seams like a very sensible suggestion.

 

[UKtradergirl]

That seams like a very sensible suggestion.

Do we try and use TRO's original rules- or the modified version?

If we use TRO's rules then perhaps we have to use the rules he gave to me to use when i insisted he give us some guidlines- since he gave me exact entry/exit rules- and not 'TAKE PROFIT' like he told everyone else.

 

[north5]

and happily give it away too to anyone that wants it.

 

[north5]

I don't care UKtradergirl. If I can get a concise statement of any kind I'm happy to do it. I can take the original TRO ones if someone could state them concisely and/or bunnygirls new modified ones if she wants to lay them out clearly in one post for me.

 

[UKtradergirl]

and happily give it away too to anyone that wants it.

North- thank you for your very generous offer. Looking forward to seeing the results.

Perhaps you could just sell the EA to TRO who can bundle it with his ebook and double the price?

TRO's rules - (the ones where he defined exact entries and exits) were:

Enter a trade after the beginning of the hour. One trade per hour. If the candle is showing red at the time enter short, if it is showing green enter long.

Enter at lines marking points 00,25,50,75.

Stoploss = 20 points
At 5 points profit move the SL to breakeven.


There was something else too, let me go back and check what he said and i'll write it in...


OK i found it:

Once you're up 10 pips, uses a 5 pip trailing stop.

 

[north5]

That's it? That EA could be knocked up in about an hour. Why on earth would you want to produce a screen that with all that noise on it - when a simple EA would trade it entirely mechanically for you with much less work I don't know.

I should be able to do it Monday. I am forward testing 2 EA's at the moment with 2 demo accounts so if anyone has a metatrader demo account they could use it would be easier than me opening another one.

 

[UKtradergirl]

That's it? That EA could be knocked up in about an hour. Why on earth would you want to produce a screen that with all that noise on it - when a simple EA would trade it entirely mechanically for you with much less work I don't know.

I should be able to do it Monday. I am forward testing 2 EA's at the moment with 2 demo accounts so if anyone has a metatrader demo account they could use it would be easier than me opening another one.

I have a demo account.

Yes his system is simple. Actually, you would not have been able to code an EA at all if i hadn't pestered him to give us some rules. He did say these rules were only for me (since i asked too many questions). He just tells everyone else 'take profit'.

If you would be so kind as to code bunny's version too it would be interesting if she is willing and can provide some rules- i think it's still a work in progress though.

Thanks again for your help!

 

[zupcon]

If you would be so kind as to code bunny's version too it would be interesting if she is willing and can provide some rules- i think it's still a work in progress though.

Thanks again for your help!

Does anyone have the exact times of entry for Bunny's trades today ?, to the nearest minute will do

 

[xmess7]

Hey Bunny:
Great job. That is similar to the way I started handling the risk/reward thingy when using these methods.

I initial (this is my recommendation to folks that start using this approach) start with +5 to +10 profit. Mental Stoploss at -5. ( I do not dictate my stops to the broker). Then as practice kicked in and now with the use of the H1 (and lately H4) Timeframe I now am averaging per trade
Profit: +35 to +60 Pips, (with a mental Stop Loss:-20 (max -40) pips)

Now I know, you may say that in some cases the risk/reward ratio is not good.
So with that said, in my live account experience the win to loss ratio I am attaining is 90%. It is rare that I encounter my self in the red.

The times that I have had to exercise the loss is because of dumbass mistakes. For example, I am prepared to go long... I react fast hit the entry selection for the pair and just click on OK. Then I see price doing what I had anticipated however my pip score is soaring the other way!!!! I close the trade with the loss... and then I notice that I did not make the correct entry selection before click the OK button (This is on FXCM interface).

How long can I keep this rate up? As long as I don't make bonehead mistakes.
The market dictates which way it is headed and all I do is just follow.

PEACE
Jess

Here's the 1am bar hot off the press:

The 5 min bar that hit the long entry lowest point was 11 pips below the line (13 pips if you allow a couple of pips below) then entry hit 1.2600. I've marked on the chart the target at 11 pips (it actually went to 1.2613) so whether you allowed a couple of pips below the bar or not, both would have been hit.

So know we know our risk and target before entering :clap:

To be continued...

Bunny

 

[nunrgguy]

So to trade this method we use market orders and no stop loss?
Give me strength

 

[TheRumpledOne]

You'd be right in thinking it was a good idea to modify TRO's strategy. Exactly what it needed in my opinion- modification. As it is it was a load of rubbish. Congratulations if you have sorted it out- perhaps he will take your modifications on board for next time

Good job, Bunny, you learned to SEE. Instead of trying to point out why this can't work, you found how to make it work for you.

Once again, that's the point of this thread. Once you learn to SEE FOR YOURSELF, you'll NEVER LOSE AGAIN.

It's not about winning each and every battle, it's about winning the WAR!

 

[TheRumpledOne]

If TRO doesn't come back soon I'm claiming squatter's rights!

Bunny

Just got back from the studio. Rhythm tracks are done.

Keep posting, Bunny.

 

[north5]

As you are online at the moment - a quick question. if I may. Why don't you offer this as an EA if it is so predictable and so simple to follow? I'm not trying to have a dig - just curious as it would seem so obvious.

 

[TheRumpledOne]

Bunny,
Thank you for your contributions and charts.
Yes, there must be quite a few people reading this thread.

I wondered why the forum didn't have an ignore feature and finally found it yesterday, by clicking a person's nickname there's a choice of either "add to contacts" or "ignore". From this point on anyone who has nothing positive to add to this thread gets tossed immediately in the bin and never to return. Those with nothing better to do shall take up no more space on MY screen.

This thread reminds me of Jonathan Livingston Seagull.

Squackers unanonymous.

There's no reason to feel sick about them, anyway they can't fly.

Hope you're having a great day.

It's too bad that thread STARTERS can't delete ANY post in their threads. Or perhaps, send them to a recycle bin. Or perhaps, take away their ability to make future posts in the thread. Or make it so thread STARTERS could APPROVE/REJECT posts in their threads. That sure would clean things up a bit. Might take some of the burden off of the forum admins, too.

 

[TheRumpledOne]

I don't care UKtradergirl. If I can get a concise statement of any kind I'm happy to do it. I can take the original TRO ones if someone could state them concisely and/or bunnygirls new modified ones if she wants to lay them out clearly in one post for me.

Feel free to code and post your EA.

I would like to see both methods coded.

Please make sure you use INPUT FIELDS rather than hard code the SL and TP. That will make the EA more versatile.

Thank you for wanting to CONTRIBUTE to the thread.

 

[north5]

I shall try and make as much as possible configurable in the EA. Time will be measured on it though so I don't claim it will be perfect. In everyone's interest I will be more than happy to hear your constructive comments on the EA I will write for all those interested in the method next week. Hopefully it will help clarify. If you want to to clarify ANY of the rules posted by UKtg then the opportunity is clearly there now. Otherwise I shall assume they are as you prescribe.

 

[TheRumpledOne]

That's it? That EA could be knocked up in about an hour. Why on earth would you want to produce a screen that with all that noise on it - when a simple EA would trade it entirely mechanically for you with much less work I don't know.

I should be able to do it Monday. I am forward testing 2 EA's at the moment with 2 demo accounts so if anyone has a metatrader demo account they could use it would be easier than me opening another one.

What screen and what noise are you referring, too?

There are MANY problems with automation.

Automation DOES NOT MEAN UNATTENDED!!

ANYTHING CAN HAPPEN... Wouldn't want to leave things to chance.

But having an EA running, would make sure that your trades stick to the rules.

Actually, you could have an INPUT SWITCH for TRADING on/off and one switch for ALERT on/off. That way, you could enter the trades MANUALLY, if that is your preference.

 

[TheRumpledOne]

So to trade this method we use market orders and no stop loss?
Give me strength

MARKET ORDERS ARE FOR SUCKERS!!

I ALWAYS USE LIMIT ORDERS.

You have to be quick.

 

[north5]

With regards to the noise I mean the amount of info your screen shots show. I'm sure they all mean something to you - but to me all the info on the screen is noise as I don't know exactly what it is telling me. If the method is so simple then there is no need for it IMO.

In terms of turning it on/off that can be done through the EA options in MT. In terms of an alert then your indicator does that.?

This is not purely for the benefit of this thread. I am going to explore momentum in more detail next week - and this essentially is a play on the immediate momentum so is an easy starting place. I have a lot more that I want to explore but can knock this up easily and hopefully others can take some benefit which may help inform and educate me.