Never Lose Again!!

[TheRumpledOne]

Originally Posted by edacsac

Trend is the prevailing direction of price movement.



Yes.



Depending on far back you decide include in your search for trend, it could be.



By looking at price direction based on the prvious answer.



Another tool in the traders toolbox.

Good answers.

A+

[TheRumpledOne]

I usually show you a M5 chart.

Here's the same method on an H1 chart.

Once again, a winning long trade in a down market.

HOW IS THAT POSSIBLE?

If you can go LONG and win in a down market and go SHORT and win in an up market then you NEVER HAVE TO LOSE AGAIN!!

TO BE CONTINUED...

[TheRumpledOne]

DOES THE INDICATOR REPAINT?

YES.

Sooner or later someone will come along and ask if my indicator repaints because if it does then it's no good.

What they fail to realize is the market is dynamic and so is the indicator. Why would I want to use a static indicator when the market is open? I want REAL TIME INFORMATION, not static, not delayed.

If I enter a trade and the market moves against me, I want to know where the next entry is. Then I can decide to add to the position, hold the position or stop out. If the indicator didn't "repaint", then how would I know?

"IT'S NOT THE INDICATOR, IT'S HOW YOU USE IT!"

And when you "arrive", you won't need indicators at all.

When you trade, there's risk involved. You need to manage your money. Your method must be designed to "win".

IS YOUR METHOD DESIGNED TO WIN?

[TheRumpledOne]

Another winning long trade in a "down" market.

Is the "market" down?

COMPARED TO WHAT?

TO BE CONTINUED...

[TheRumpledOne]

There's a SHORT winning trade.

No big deal in a down market.

If you have been following along, you have seen winning trades.

I know someone is wondering about the LOSERS, aren't you?

Not every entry is a winner. But with position sizing and risk management, the net result is a gain. It's more my fault than the method's because I sometimes jump in a little early. Moving to a M15 or M30 chart can cure early entry problems.

TO BE CONTINUED...

[mach_one_man]

I gather the Support and Resistance is solely calculated from High and Low of the last 21 bars? Is this correct?

Please could you explain how you calculate your "Go Long and Go Short" entries? This really intrigues me.

I have read the thread a few times and I can't figure out,

Thanks again for your wonderful thread!

Edit: TRO/anybody where can I download the SR RR(21) Indicator, Thanks.

[TheRumpledOne]

I would like to hear from more of you.

There are plenty of questions for you to answer.

Don't be afraid.

I'll grade fair

And feel free to ask questions.

[TheRumpledOne]

Many systems use sma(5) , sma(10), sma(50), stochastics and MACD.

Take a good look at the chart.

Do you really need them?

Do they tell you something that PRICE isn't telling you?

All my indicator does is draw a line at the highest high and lowest low of the last 21 periods offset by 1 bar ( so the current bar doesn't move the line until it closes). As I stated earlier, 21 is NOT some magical number. I could use 20 or 22 or 33 or 44 or 55 or...

Do I really need anything other than PRICE itself to tell me that it has bottomed? Peaked? Is going up or down?

If you follow my post you know my indicators ANALYZE PRICE. There isn't some esoteric formula that produces anything that PRICE can't tell me.

[TheRumpledOne]

NEVER LOSE AGAIN!!



1) Did you get CLOBBERED by the market during the big drop in the Pound and the Euro?






2) Did you get caught short when the US Dollar ran up?








3) Did you look at the MONTHLY CHARTS BEFORE those events?

If you answered YES to 1 and/or 2 and NO to 3 THAT'S THE PROBLEM!!


WEEKLY HOMEWORK ASSIGNMENT


Attached is a zip file with a modified version of a linear regression indicator and my new TRO TREND STATS.

A template is included ( remember to put it in the TEMPLATE folder that is in the METATRADER folder and NOT the template folder in the indicator folder. )

When you see price at/near one of the outer lines, it will want to "regress" to the middle line.

After you view for the month, you then view for the week.

THIS WILL GIVE YOU THE OVERALL BIG PICTURE VIEW.

This homework assignment should be completed BEFORE your first trade of the week.

In fact, I would like it if each of you posted one chart here and discuss what you see on the chart.

Thanks.

MT4 TEMPLATE AND INDICATORS ( INCLUDING SOURCE CODE ) ATTACHED.

[pipnailer]

Originally Posted by TheRumpledOne

NEVER LOSE AGAIN!!



1) Did you get CLOBBERED by the market during the big drop in the Pound and the Euro?






2) Did you get caught short when the US Dollar ran up?








3) Did you look at the MONTHLY CHARTS BEFORE those events?

If you answered YES to 1 and/or 2 and NO to 3 THAT'S THE PROBLEM!!


WEEKLY HOMEWORK ASSIGNMENT


Attached is a zip file with a modified version of a linear regression indicator and my new TRO TREND STATS.

A template is included ( remember to put it in the TEMPLATE folder that is in the METATRADER folder and NOT the template folder in the indicator folder. )

When you see price at/near one of the outer lines, it will want to "regress" to the middle line.

After you view for the month, you then view for the week.

THIS WILL GIVE YOU THE OVERALL BIG PICTURE VIEW.

This homework assignment should be completed BEFORE your first trade of the week.

In fact, I would like it if each of you posted one chart here and discuss what you see on the chart.

Thanks.

MT4 TEMPLATE AND INDICATORS ( INCLUDING SOURCE CODE ) ATTACHED.

Cant load your attached file. An error message keeps coming up asking me to contact admin.