Quoting TheRumpledOneDisliked...BUT YOU NEVER HAVE TO LOSE IF YOU FOLLOW THE SIMPLE RULES.Ignored

- Joined May 2005 | Status: Member | 1,494 Posts
In trading, there is no bullshit. You either make money or you don't.
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Quoting TheRumpledOneDislikedYou trade at the line. Not 1 pip before or after.
I exit the trade based on whether or not there is any "gas" left in the tank.
What happens when news is released? Usually a lot of action!
Sometimes I may exit before news, sometimes I may enter before news, sometimes I will wait until after the news to enter/exit.
The main thing is to be trading the currency in the proper direction.
GBPUSD long, EURUSD short, USDCHF long, etc.... If you don't know the proper direction then you are just giving your money away.Ignored
Quoting twinchellDislikedThey weren't giving much money out to people that went long on GBPUSD today. Maybe my random lines were in the wrong place. Isn't that a cliche? Hmmm...Ignored
Quoting twinchellDislikedWow, you've never lost a trade based on drawing a random line and candle color? Sounds like a kids coloring book.Ignored
Quoting TheRumpledOneDislikedIndicators are for suckers!
Trading is simple.
Just draw a horizontal line on the chart.
If the candle is green, go long at the line.
If the candle is red, go short at the line.
It IS that simple.
You only lose if you are too slow or too greedy!
It really is simple!!Ignored
Quoting lietuveDislikedThat's the funniest and most eye opening statement I've ever seen in my trader's life. Now I feel badly about myself for having never noticed such a simple and easy thing. Thanks, TheRumpledOne. I am putting on Bethoven's "Pathetic Sonata" in your honor. Oh, yes, Linuxtroll, for you too!Ignored
Quoting TheRumpledOneDislikedYou trade at the line. Not 1 pip before or after.
I exit the trade based on whether or not there is any "gas" left in the tank.
What happens when news is released? Usually a lot of action!
Sometimes I may exit before news, sometimes I may enter before news, sometimes I will wait until after the news to enter/exit.
The main thing is to be trading the currency in the proper direction.
GBPUSD long, EURUSD short, USDCHF long, etc.... If you don't know the proper direction then you are just giving your money away.Ignored
Quoting TheRumpledOneDislikedBut all you have to do is look at ANY chart on ANY interval.
Draw horizontal lines at x.xx00. x.xx25, x.xx50, x.xx75 and trade in the direction of the candle.
Green candle, go long at the line.
Red candle, go short at the line.
Newbies use 60 minutes...
Right now it's CABO WABO TIME!!
ADIOS.Ignored
Quoting summitfxDislikedAs a full-time trader (8 years), I was trained as a COES Bandit. This invloved sniper trading. We basically traded high flying stocks like AOL in the late ninties and used the futures (Spooz and Nooz) to determine the entry points. Trades would last anywhere form 30 seconds to 15 minutes. It was rapid fire in and out. At the end of the trading day you were totally exhausted and hopefully in the green. Today, I still have the need to "push" the button and make the trade. I also have an account that I trade only daily and 4 hour charts (swing trades) Through various methodologies on the FF, I have settled into a profitable scalp trade routine. My favorite session is pre London session (12pm mtn time) and the London session (1am). It's a very simple trigger of lines crossing lines. I turn off all monitors but 1 and focus soley on the enlarged chart and block out all noise. I don't care about others opinions of where they think the currency is headed etc. Focus and react. If you use 2 lots or $20 pip profits, you only need 5-10 pips to make $100-$200 per trade. It's rapid fire and you only take the trades on the cross. As you get better, you can filter out trades and only go with the prevailing trend etc.. On a decent day, I can easily make $500-1000 per day with very little effort. Below is the chart. Candlesticks with an 8p RSI and 8MA in one window. It's self explanatory but it's fun and profitable. Sweep your profits into longer term trades that suits you best. Here it is- feel free to give it a go~Ignored
Quoting carmelDislikedCan anyone help with an indicator like SummitFX has with the 8 RSI and 8 MA on the same window? Thanks.Ignored
Quoting RanchoDislikedHello, Summitfx:
When did you draw in your trigger level lines - immediately after the doji (10th bar from the right) was completed? After the long blue bar (8th bar from the right) crossed the red dotted trigger line at 1.8530, did you wait for RSI to cross it's 50 level before you committed?
What is the significance of the brown dotted line at 1.8548 and the solid blue line at 1.8577?
You normally close a trade when the 8 ma crosses the 8 period RSI, right?
Any particular reason why this chart is a 15 minute instead of something smaller (i.e., a 5 min.)?
Many years ago while working at a research lab I learned this the hard way: If something is in question, never, ever, assume anything, no matter how obvious you think the answer is. So, please excuse my need for detail.
Thanks!Ignored