I have been out of touch for the last few days as I had some major upgrading done to the computer. I am sadden that xtraction is banned as I have seen a lot worse “repartee” in the past in other threads. I suppose admin is taking another look at the policy and cracking down.
I was reluctant & timid about trying this strategy because I had grabbed by the horns TRO’s “All you need is a horizontal line” and lost my you-know-what. Xtraction’s however has more that just a candle crossing a 1H TF. I am still going to use this strategy and hope that used, apache, et al keep on posting although what more can be said about such a simple idea. Good trading all (I’m waiting until after Jan. 4th), d.
If you watch carefully what other experienced traders in this site are doing, you will find that it´s extcacly same thing. Enter flat top/bottom daily candle 2:1 boll, it’s daily open!:rolleyes:
You will loss your you know what again if you trade this like you did TRO’s strategies. TRO’s horizontal line and this are very similar in that its the open trade management that makes you money not exactly when you open.
I like this more. I think the price points talked about in this method are points that have a higher volume around them than a random H line. Volume means its more likely that some momentum might build. Just some thoughts I have actually traded this very little.
It’s been a long time since I traded TRO’s Horizontal Line but if I remember correctly one was suppose to have lines at every xx.00, xx.25, xx.50, & xx.75 and so on. It didn’t take long to realize that a candle crossing a line wasn’t the most significant part of price action. At least this strategy points me towards the Daily Open after crossing the Weekly - a big help for me. I’m looking forward to Jan. 4th. d.
Why does TRO get blamed for so much here on BabyPips? From what I can tell, he has been banned for over a year. It seems like all someone has to do is yell TRO and threads get closed and people get banned. It’s almost a new year, don’t you think it is time to give it a rest?
Some people on here can’t even read before they open their mouth. :rolleyes:
[I]I realise you only prefer to enter long trades as they move into your bargain area’s, but could I use the weekly open as my fulcrum level & trade short as well as long through the fulcrum level?
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Glad to have “sparked your interest”. Calling this thread “fascinating” may be pouring it on a little thick. Nothing ground breaking here. The fascinating part to me is that the majority of traders are not trading in a similar fashion. Instead they are like dogs chasing whatever car happens to drive by next. But as I posted elsewhere, they can’t help themselves because their brains are wired to respond that way and they do not know it.
You can trade the weekly open whenever the price crosses over in the direction of the daily flow. There are always exceptions to that rule but better to pass on those for now. The majority of my trades are long[B][U] but there are times when I can plainly see going short will most likely result in a profitable exit.[/U][/B]
Really?
How come they are using Bollinger Bands instead of a horizontal line?
How come they are using Ma’s on four different time frames instead of one horizontal line for all time frames?
How come the Ma’s they are using showing a different direction, angle and are below & above dorminant flow depending on time frame looked at?
Bollinger Band is a MA.
Enter flat top/bottom daily candle 2:1 boll, it’s daily open!:rolleyes:
My $/Y sell stop was hit @ 92.32; SL - 92.42 & TP - 91.82 (using xtraction’s suggested 10p SL & 50p TP, I’ll see how that works with micro trades 1st.)
L/$ sell stop not hit yet as of 20:44 CST, US. I may delete this if it isn’t close by bedtime. We’ll see. Good trading all, d.
That’s exactly what he said at the beginning of the thread, but used hasn’t got a clue…Unfortunately he seems to be yet another poster suffering from just-read-a-few-threads-now-I’m-a-guru syndrome, getting carried away trying to walk all over other posters by re-iterating what’s already been said. None of the posters here that claim to do this professionally strut around with the attitude he does.
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Oh wait, looks like Master Tang was right after all
Clearly, used can’t even read before he opens his mouth :rolleyes:
Also I’d like to mention that those bashing the original concept as completely ineffective are a little out of line in my opinion. Like any system it has holes particularly as a minimalistic one but it’s definitely worth taking a look at
