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Simple & profitable: 00 horizontal line trading

  • #61
  • Jun 23, 2014 2:08pm Jun 23, 2014 2:08pm
Quoting NewToForex14
{quote} TooSlow Hi... what kind of indicator is it ? (red and green numbers on the top and on the bottom of the candles)
"Wick_numbers" is part of the name.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #62
  • Jun 23, 2014 8:13pm Jun 23, 2014 8:13pm
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Looks familiar.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #63
  • Jun 23, 2014 8:24pm Jun 23, 2014 8:24pm
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Observe the average range. Note how much will be used prior to trade entry. Remember the spread must be overcome. Will there be enough range left to make your TP? No shame in making 3 pip profits.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #64
  • Jun 23, 2014 8:27pm Jun 23, 2014 8:27pm
Note where price starts when the H1 candle opens. It may be profitable to enter at X5 and exit at X0 rather than watching price use up to 5 pips of range to get to X0.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #65
  • Jun 23, 2014 8:37pm Jun 23, 2014 8:37pm
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This method is simple and your chart can be simple as well.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #66
  • Jun 24, 2014 12:01am Jun 24, 2014 12:01am
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Set and forget trade. Deja vu.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #67
  • Jun 24, 2014 5:55am Jun 24, 2014 5:55am
Quoting TooSlow
Note where price starts when the H1 candle opens. It may be profitable to enter at X5 and exit at X0 rather than watching price use up to 5 pips of range to get to X0. {image}
Hi TooSlow,
I was thinking about it. Why not use it if sometimes it's just a better entry point. It should be in the rules of course. Also I'd like to make the RR to 1:1 for my method, so It will be easier for me when the stop loss will be hit from time to time(and I know it will happen). Any info about this original method is very interesting for me. Thanks. I'm leaving for a week. No internet during vacation time:-) That's another rule. Talk to you in a week.
Alec
Look for reasons not to take a trade.
  • #68
  • Jun 24, 2014 9:10am Jun 24, 2014 9:10am
Quoting overseaz
{quote} Hi TooSlow, I was thinking about it. Why not use it if sometimes it's just a better entry point. It should be in the rules of course. Also I'd like to make the RR to 1:1 for my method, so It will be easier for me when the stop loss will be hit from time to time(and I know it will happen). Any info about this original method is very interesting for me. Thanks. I'm leaving for a week. No internet during vacation time:-) That's another rule. Talk to you in a week. Alec
The X5 idea is my tweak of the original Psycho Trade method posted years ago. Enjoy your vacation.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #69
  • Jun 24, 2014 9:22am Jun 24, 2014 9:22am
RULE BENDING

Deciding to bend the rules must be approached with caution. Greed is not a reason to bend the rules. Taking advantage of present market conditions is the only valid reason to bend the rules. The H1/D1 candle color is a rule the trader should always follow but the rule can be bent/broken. After a currency pair trades in one direction for an extended period, the direction will reverse. The D1 candle wicks are formed by direction reversal. The chart shows such a reversal. Note H1 and W1 candle colors match - see upper right of chart.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #70
  • Edited 3:22pm Jun 24, 2014 11:23am | Edited 3:22pm
Hi TooSlow,
I would not suspect an experienced traders' intention to come forward and speak about his/her winning method. Irrespective of the traders (harsh) language if they come out and teach fellow traders to make them successful, nothing like it. I find many of the things you discussed before in this threade complicated (X0). Your decision not to share the indicators could be another reason for the complication. I fully understood why you are not sharing and I am with you on that. Can you please explain me in a more elaborate manner on the first post please.
  • #71
  • Jun 24, 2014 2:01pm Jun 24, 2014 2:01pm
In case anyone finds themselves wondering, the indicators he's using are programmed by "TheRumpledOne" - just google his username, you can find his indicators slathered all over the internet. Some of his indicators are "donational" (you have to pay him) like his Frequency Distribution indicator. The good news is, they're ridiculously easy to code from scratch. In fact, all of his indicators are ridiculously easy to code. TRO's trading methods are relatively simple to follow and the indicators he code(s) reflect that simplicity. I'm not saying anything good or bad about TRO, his indicators, or his methods. All I'm saying is that if you want these indicators, not that they'll really help you win, you can download them or code them yourself easily.
  • #72
  • Jun 24, 2014 3:24pm Jun 24, 2014 3:24pm
Quoting Bilstein
In case anyone finds themselves wondering, the indicators he's using are programmed by "TheRumpledOne" - just google his username, you can find his indicators slathered all over the internet. Some of his indicators are "donational" (you have to pay him) like his Frequency Distribution indicator. The good news is, they're ridiculously easy to code from scratch. In fact, all of his indicators are ridiculously easy to code. TRO's trading methods are relatively simple to follow and the indicators he code(s) reflect that simplicity. I'm not saying anything...
Thanks Bilstein. I saw some of the threads where he was bashed repeatedly. Dont' know why, may be because he is black ?
  • #73
  • Jun 24, 2014 3:49pm Jun 24, 2014 3:49pm
I dunno, honestly. He was banned from just about everywhere but he was "big" before my time on forums. I just remember getting all excited about his indicators when I was on my "holy grail" quest. He wanted money for 'em and I don't pay for that stuff; it's either free or code it myself. Fast-forward a few years and I see this thread and someone saying "I can't share these" (I'm assuming because he paid for it) and I say to myself "Oh yeah, that thingie, I can code that" and did it in 45 minutes. Admittedly, I didn't make it exactly the same. But that's because I really don't care.
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  • #74
  • Jun 24, 2014 4:41pm Jun 24, 2014 4:41pm
Quoting pannet1
Hi TooSlow, I would not suspect an experienced traders' intention to come forward and speak about his/her winning method. Irrespective of the traders (harsh) language if they come out and teach fellow traders to make them successful, nothing like it. I find many of the things you discussed before in this threade complicated (X0). Your decision not to share the indicators could be another reason for the complication. I fully understood why you are not sharing and I am with you on that. Can you please explain me in a more elaborate manner on the first...
Please ask a question and I will do my best to assist you in understanding.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #75
  • Jun 24, 2014 4:41pm Jun 24, 2014 4:41pm
Quoting Bilstein
I dunno, honestly. He was banned from just about everywhere but he was "big" before my time on forums. I just remember getting all excited about his indicators when I was on my "holy grail" quest. He wanted money for 'em and I don't pay for that stuff; it's either free or code it myself. Fast-forward a few years and I see this thread and someone saying "I can't share these" (I'm assuming because he paid for it) and I say to myself "Oh yeah, that thingie, I can code that" and did it in 45 minutes. Admittedly, I didn't make it exactly the same. But...
Feel free to share what you have coded.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #76
  • Jun 24, 2014 4:46pm Jun 24, 2014 4:46pm
Real trade, X5 to X0. Deja vu.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #77
  • Jun 24, 2014 4:50pm Jun 24, 2014 4:50pm
Quoting Bilstein
In case anyone finds themselves wondering, the indicators he's using are programmed by "TheRumpledOne" - just google his username, you can find his indicators slathered all over the internet. Some of his indicators are "donational" (you have to pay him) like his Frequency Distribution indicator. The good news is, they're ridiculously easy to code from scratch. In fact, all of his indicators are ridiculously easy to code. TRO's trading methods are relatively simple to follow and the indicators he code(s) reflect that simplicity. I'm not saying anything...
Donational means donate. I had no idea I would receive so many indicators for a lousy $50 donation. They help me identify profitable trading opportunities. It never occurred to me to use frequency distribution rather than averages.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #78
  • Jun 24, 2014 11:34pm Jun 24, 2014 11:34pm
Quoting TooSlow
Real trade, X5 to X0. Deja vu. {image}
My StopLoss would have been hit at 95.500. What made you hold, to be successful on this trade.
  • #79
  • Jun 24, 2014 11:36pm Jun 24, 2014 11:36pm
Quoting TooSlow
{quote} Please ask a question and I will do my best to assist you in understanding.
Thank you for coming forward to help me, TooSlow. I will go through word by word on what you have written and come back to you.
  • #80
  • Jun 25, 2014 1:14am Jun 25, 2014 1:14am
Quoting pannet1
{quote} My StopLoss would have been hit at 95.500. What made you hold, to be successful on this trade.
Short 95.75 TP 95.70 TP set ahead of time. Enter trade and market hits TP or SL. Does that answer your ??
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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