NEVER LOSE AGAIN!! TheRumpledOne

[TheRumpledOne]

 

[TheRumpledOne]

 

[sweet pip]

Frog or horse?..It's too bad some of you have trouble with these concepts of Simply seeing information in a new way.

Did you know that a flea can jump a vertical distance more than 100 times its body length? But if you put it in a cup with a lid, after awhile, it won't even try to jump higher than the top of the cup when you remove the lid (and no...not because it's dead...lol)...but that's what I see here with those of you who are too "bored" to find something more constructive to do with your time between trades...like pursuing personal development and excellence!...

 

[astondan]

North 5 EA

Hi, i am trying to use the EA North5 created to backtest this in Alpari but when the test has finished running i have no results and the Journal section is full of an 'ordersend 130' error.

Can anyone help me fix this or point out something i may be doing wrong?

Thanks in advance.

 

[zupcon]

Hi, i am trying to use the EA North5 created to backtest this in Alpari but when the test has finished running i have no results and the Journal section is full of an 'ordersend 130' error.

Can anyone help me fix this or point out something i may be doing wrong?

Thanks in advance.

Error 130 is usually caused by the target (or stop) being too close to the entry price, so setting a 5 pip target would generally result in this error. Try setting stops and targets at 50 and see if that works.

Also watch out if your using a 5 digit broker (such as alpari), you'll probably need to multiply everything by 10

What I'd really suggest is doing what TRO advises, and WATCH price action in real time rather than wasting tme on EA's

 

[Lightning McQueen]

Do Not Feed The Trolls

The same fate awaits anyone else who decides that trolling it up with a multinick is fun!

You have been warned

 

[xmess7]

One thing I would recommend to all newbies and folks that are tying this approach, is to get accustomed to viewing only the current bar you are dealing with. Everything else is the past and the future, well you know, it is unknown. Trade in the NOW!

Plus, for the first couple of times just LOOK. Don't trade. Just LOOK and SEE what happens when price is moving. Then LOOK and SEE what H1 or D1 have as colors. Or draw horizontal lines and just WATCH and SEE what PRICE does. You will start to SEE the winners... everywhere there are winners...

When to take profits? My own rule of thumb... as soon as I see profit I take it. I take it as a trailing stop, which if stopped out will yields me at the least +5 pips. Now, if the trade goes well ... my trailingstop continues with it, which will yield more than +5pips. And then if I see 100+ pips I close it manually. Take profit is up to you, you develop your own approach.

Stop loss?? My own rule of thumb ... -30 max on any trade. If i LOSE two times in a day, I am OUT. No trading till the next DAY, PERIOD NO QUESTIONS, NO WANTS, NO NOTHING. LOL. A "NO TRADE" is as good, the more I keep the funds out of the market the better my chances of, not only keeping them, but also making them grow.

On that note, I only trades 2 days last week. +200 pips... It pays to stay out

 

[BarryPips]

I like your stuff, but this trade is not correct!

Meanwhile, pips were being take from the short at 0.6550

Look at the rightmost bar. It looks RED, but it's really GREEN. When that hourly bar opened, it most likely went UP (being green) to the next psychological level. The signal would have been to buy. And unless the trader were really careful, could quickly turn to a loss.

Your short at 0.6550 would have been the second trade of the hour, and probably not taken.

Again, I really like your stuff, and I am in favor of what you do.

By the way, I've followed your "Never Lose Again" threads in two other forums. This one is the best.

Thanks,
Barry

 

[UKtradergirl]

Barry- that is exactly one of the issues i have with TRO's way of trading (note: TRO's way of trading, not him as a person). The charts very often 'lie' about the real situation.

 

[sweet pip]

Look at the rightmost bar. It looks RED, but it's really GREEN. When that hourly bar opened, it most likely went UP (being green) to the next psychological level. The signal would have been to buy. And unless the trader were really careful, could quickly turn to a loss.

Your short at 0.6550 would have been the second trade of the hour, and probably not taken.

Again, I really like your stuff, and I am in favor of what you do.

By the way, I've followed your "Never Lose Again" threads in two other forums. This one is the best.

Thanks,
Barry

Hi Barry,
The thing is, this is a buzzard trade, so we're not looking for longs, only shorts. Reason it's a buzzard trade is that there were 3 green bars prior and statiscally it's not a good place to look for a long...the up streak is dying...lol. So we wait, and as TRO pointed out, the short was taken at the lower psych line of .6550.

 

[zupcon]

Hi Barry,
The thing is, this is a buzzard trade, so we're not looking for longs, only shorts. Reason it's a buzzard trade is that there were 3 green bars prior and statiscally it's not a good place to look for a long...the up streak is dying...lol. So we wait, and as TRO pointed out, the short was taken at the lower psych line of .6550.

Its been a while since I took a look at the statistics regarding consecutive bars. Are you actually saying that after 3 consecutive bars, there's a greater probablity of the 4th bar being the opposite color than the same color ? and if so, by what percentage ?

are you filtering these statistics by time ?

edited to add just tried this on 8 pairs, and the statistics do seam to favour an alternative color bar after 3 consecutives, typically of the order 43/57, 44/56, 43/58, 46/54, at first glance the differences appear to be statistically significant.

 

[pierre23]

Its been a while since I took a look at the statistics regarding consecutive bars. Are you actually saying that after 3 consecutive bars, there's a greater probablity of the 4th bar being the opposite color than the same color ? and if so, by what percentage ?

are you filtering these statistics by time ?

edited to add just tried this on 8 pairs, and the statistics do seam to favour an alternative color bar after 3 consecutives, typically of the order 43/57, 44/56, 43/58, 46/54, at first glance the differences appear to be statistically significant.

Yes, after 3 same coloured bars, you can assume a reversal of colour. Of course, thats not to say it won't continue with the same colour for another 5 more bars.. But if you trade the buzzard reversals with the BuyZone you'll have more opportunity of taking profit. Remember, the point of the buzzard reversals arn't to stay in the trade for 120pips. Don't expect massive reversals just because there were 3 same coloured bars before the current one. BUT you will have an opportunity to take pips. Whether you take the opportunity for 5 pips every hour at a buzzard trade, or be greedy, and hope you can come out with 50. Of course, chances are it could go for those 5 pips you COULD have taken, then reverse and you end up with a loss. Take what you can, give nothing back!

Percentage? I don't think you can work out a percentage, as the market can do anything... but the statistics do give you the upper hand to LOOK for an opportunity to take profit.

These statistics are gathered over a period of 920 hours (I think? Look at some previous screen shots there is an indicator that shows how many bars in a row over such a period of time).

 

[pierre23]

Barry- that is exactly one of the issues i have with TRO's way of trading (note: TRO's way of trading, not him as a person). The charts very often 'lie' about the real situation.

The charts don't lie. It's the users of the charts that don't understand what they're doing and therefore push the blame on the charts or methods used.

If you follow the rules there is no reason why that trade Barry posted would come out a loss. As sweetpip said, you have 3 Green before the current, rule is you look to SHORT the bar (either at a phsycological level or at the BuyZone level). There is no reason to go long, even if it hit your line.

 

[zupcon]

These statistics are gathered over a period of 920 hours (I think? Look at some previous screen shots there is an indicator that shows how many bars in a row over such a period of time).

Thanks for that, I'm just playing around with the data at the moment, trying different permutations of run lengths etc.

 

[TheRumpledOne]

Look at the rightmost bar. It looks RED, but it's really GREEN. When that hourly bar opened, it most likely went UP (being green) to the next psychological level. The signal would have been to buy. And unless the trader were really careful, could quickly turn to a loss.

Your short at 0.6550 would have been the second trade of the hour, and probably not taken.

Again, I really like your stuff, and I am in favor of what you do.

By the way, I've followed your "Never Lose Again" threads in two other forums. This one is the best.

Thanks,
Barry

Barry, after 3 green H1 bars we were looking for a BUZZARD REVERSAL and that's why we did NOT go long!!

 

[TheRumpledOne]

Thanks for that, I'm just playing around with the data at the moment, trying different permutations of run lengths etc.

I cranked the Bar Stats up to 1920 bars.

But after 3 like colored H1 bars we are just looking to scalp the reversal.

If you look at the price action, that is often a clue as to whether or not to expect a reversal.

Remember, a BUZZARD REVERSAL is a BUY ZONE trade, so you have to wait for the entry trigger.

 

[TheRumpledOne]

Barry- that is exactly one of the issues i have with TRO's way of trading (note: TRO's way of trading, not him as a person). The charts very often 'lie' about the real situation.

The charts NEVER LIE.

Only people lie, distort the facts, use "spin" and KILL THE MESSENGER.

 

[sweet pip]

ok, finally got a couple of pics...during a trade and after. I purposely set my t/p away from my usual 10-20 pips after the pic cause it usually hits before I can take the pic.

Here is a buzzard with horizontal line for entry trigger. There were 3 green bars leading up to 124.30ish. So I placed my "pending" short order for 124.25. Then as you can see it hit and went down and hit my t/p, so actually I got more than my usual 20 pips ....sweeeet

 

[jligon]

My first few days trading forex & The Buy Zone Trading Strategy (Free version)

I've been using the free Buy Zone Trading Strategy with Oanda FXGame for the past 4 trading days. The only experience I've had prior to this is moving our 401k's to cash during a downturn. I've spent most of my time reading the posts in different forums regarding the system as a means of improving my results. I haven't used any of the indicators, free or otherwise. I'm just now starting to get a feel for the software and being able to place orders and horizontal lines correctly. I made my first post to The Two Percent Club today.

Here are the results of my demo trading:

I've made 26 trades and netted 39.7821 pips. I've made numerous errors in terms of entry, drawing horizontal lines correctly and when to take profit. Things that someone with a moderate amount of experience could easily avoid. Based on my reading of this system I've barely scratched the surface. The beauty of it lies in it's simplicity. I'm very grateful to TRO for sharing his insight and knowledge.

Jack

 

[xmess7]

Hey! I resemble that! LOL. I trade the Horizontal lines almost exclusively. In the case that Barry cites, I would more than likely not taken the trade. In general "my" rule of thumb is that if price opens near one of the horizontal lines I do not take the trade of that nearest H line. I take the trade on one of the other two lines but not the nearest.
Plus it's not the GBPJPY :cheesy:, that's another reason not to trade LOL

And I close with this for the newbies practice practice practice practice....

Hey careful with that killing the MESSENGER stuff that's my bands name LOL..

Look at the rightmost bar. It looks RED, but it's really GREEN. When that hourly bar opened, it most likely went UP (being green) to the next psychological level. The signal would have been to buy. And unless the trader were really careful, could quickly turn to a loss.

Your short at 0.6550 would have been the second trade of the hour, and probably not taken.

Again, I really like your stuff, and I am in favor of what you do.

By the way, I've followed your "Never Lose Again" threads in two other forums. This one is the best.

Thanks,
Barry