TRADING IS SIMPLE ... (TheRumpledOne)

Discussion in 'Forex Trading' started by TheRumpledOne, Jan 2, 2012.

  1. TRO,

    Some questions for you to make sure I understand your technique.

    Assuming EUR/USD

    When price is 20 pips from previous HOD you buy.

    When price is 20 pips from previous LOD you short.

    Sounds simple enough.

    Now onto the questions.

    What stop to use ?

    Where do you exit ? I don't think take what you can is an apt answer.

    Only once per day ?

    Can you do the long and the short version during the same day ?

    Trying to understand, thank you.

    Crazy A
     
    #11     Jan 3, 2012
  2. since prices are consolidating 75% of the time would it make sense to short once the price is 15 or 20 pips above the previous day's high or the opposite for previous day's low and set a stop for half of what I'm try to make. I've back tested it and my stops must not be optimal.
     
    #12     Jan 3, 2012
  3. and how does that "make sense"?
     
    #13     Jan 3, 2012

  4. You are making an assumption that "consolidating 75% of the time" implies an XX% chance that when price exceeds the daily range by YY points then it will return. Maybe one statement doesn't imply the other in which case stops won't be the issue.
     
    #14     Jan 3, 2012
  5. Rump,

    Your thoughts are very logical and sensible, and you seem to enjoy sharing. It would be nice to see charts of how you implement these ideas in your own trading. This could be a great learning thread.
     
    #15     Jan 3, 2012
  6. BonScott

    BonScott

    Very good. I like simple explanations.

    Now, is there anywhere that I can buy a house trained rat to help with my trading?
     
    #16     Jan 4, 2012
  7. Do you want a simple rat , or do you want one that can dance on your lap , while you sit on your ass ?
     
    #17     Jan 4, 2012
  8. It is NOT PREVIOUS LOD, it is CURRENT low of the day.




    1) price within 20 pips of the daily low - that is OPPORTUNITY

    2) red candle closes

    3) green candle closes - note the high price of the green candle.

    4) enter long at the green candle's high price

    5) STOP LOSS IS 10 PIPS

    6) Take whatever profit you can.

    7) If the rules do not mention it, then it is of no concern.


    For exits, search for TRO EXIT PLAYBOOK.


    "The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."
     
    #18     Jan 4, 2012
  9. Take a look at the NO BRAND - LIKE A RAT thread. You should find what you are looking for there. The thread got renamed because I was accused of "branding".
     
    #19     Jan 4, 2012
  10. can't find " NO BRAND LIKE A RAT " thread.
    Could you please post a link?
     
    #20     Jan 4, 2012