TRADING IS SIMPLE ... (TheRumpledOne)

TheRumpledOne · Mar 1, 2012

1) Price within 20 pips of the CURRENT daily low (ClLo < 20): This is OPPORTUNITY

============================================

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the
forum. Thank you.

TheRumpledOne · Mar 1, 2012

Quote from Tango 6 Alpha:

Yeah, lets keep threads like this going. The clueless people will open up accounts with Bucket Shops, get slipped and re-quoted to death while the broker takes positions against the trader and the trader's account gets depleted down to nothing with the newbie trader having learned nothing in return.

[As the saga of online debauchery continues in the world of Forex, enter the Indicator Pimp - stage right.]

continue saga, page 1 million...

Another salesmen gets to unload some T-Shirts about Draining The Banks and collecting $50 paypal Donational deposits for over-cooked and over-hyped indicators that were either re-written versions of already existing work, or useless Christmas tree ornaments complete with flashing lights and plenty pretty little colors, used to promote the idea that trading with an initial arbitrary 10 pip stop and an equally arbitrary trailing stop thereafter, while claiming a target of "Whatever," will somehow equate to eventual consistency as a trader.

It seems like trading forums these days are good for nothing more than the perpetuation of misnomer, misinformation, disinformation and outright no information that is truly useful to the trader - all the while, encouraging and promoting the opening of retail accounts with Bucket Shops and the Donating of cash to Indicator Pimps, no more successful at trading than Martha Stewart herself.

Bucket Shops and Indicator Pimps.

That's pretty much the Long and Short of it these days in the online trading world.

As you were - grow weary

It's easy to bash others. It is really a pity you spend so much time putting me and others down, when you could take that same time and share the knowledge that you claim to have and help your fellow traders.

The real question is: Where's your thread?

Macho · Mar 1, 2012

Quote from TheRumpledOne:

The real question is: Where's your thread?

And where is your answer to my question on the previous page.

BTW, I agree with your basic logic of "daily high/low" and no indicators.It is the only factual part of the daily price movement.

DollarBondsCL · Mar 1, 2012

Quote from TheRumpledOne:

It's easy to bash others. It is really a pity you spend so much time putting me and others down, when you could take that same time and share the knowledge that you claim to have and help your fellow traders.

The real question is: Where's your thread?

You know what bugs me about you

You supposedly are a good trader, yet you can't spell out your strategy clearly with exits and all

You are either selling smoke, or you are afraid simplicity will give you only 5 min fame

I don't know ANY serious trader doing online what you are doing. I thought you were down to earth good old fashioned no bullshit black man. But now I am not so sure.

bruce436 · Mar 1, 2012

i do not follow much stuff ... BUT the buy zone strategy is truily a GEM!!!!!!!!!!!!!

Macho · Mar 1, 2012

Quote from DollarBondsCL:

You know what bugs me about you

You supposedly are a good trader, yet you can't spell out your strategy clearly with exits and all

You are either selling smoke, or you are afraid simplicity will give you only 5 min fame

I don't know ANY serious trader doing online what you are doing. I thought you were down to earth good old fashioned no bullshit black man. But now I am not so sure.

In fairness, TRO does offer an 'exit plan'. The trailing stop,which is one way,but it does not necessarily mean that TRO trades, if in fact he does trade at all, using the trailing stop.

TheRumpledOne · Mar 1, 2012

Quote from Macho:

Ok . Poor reference on my part.

So getting back to my written example where current price <20 pips of current daily low.

If there is a green that closed ,say 46 but the high was 48 in that 5 minute bar.Is the prompt for a BUY at 48 on the next bar.That being 2 pips above the closing price?

If not, what is the minimum number of pips to cover you would accept to create the trade on the next 5 minute bar?

1) price within 20 pips of the CURRENT 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.

So long as 1, 2 and 3 are true in your example then 48 would be the long entry.

bigarrow · Mar 1, 2012

Quote from Macho:

In fairness, TRO does offer an 'exit plan'. The trailing stop,which is one way,but it does not necessarily mean that TRO trades, if in fact he does trade at all, using the trailing stop.

6) Take whatever profit you can.

TheRumpledOne · Mar 1, 2012

Quote from DollarBondsCL:

You know what bugs me about you

You supposedly are a good trader, yet you can't spell out your strategy clearly with exits and all

You are either selling smoke, or you are afraid simplicity will give you only 5 min fame

I don't know ANY serious trader doing online what you are doing. I thought you were down to earth good old fashioned no bullshit black man. But now I am not so sure.

1) price within 20 pips of the CURRENT 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.

What is not clear about the above rules?

Exit strategy is based on you creating your own EXIT PLAY BOOK.

MAXIMUM RISK = 2% * ACCOUNT BALANCE.

STOP LOSS = 10 PIPS. (INCLUDING SPREAD)

POSITION SIZE = RISK / STOP LOSS.

It is up to the trader to determine what risk they are comfortable with.

Some traders think 2% is too high, so they make adjustments to the above equations.

Some traders think 10 pips is too tight, so they make adjustments to the above equations.

âI am not forcing you to accept my concepts. I only request the traders to review the market from time to time keeping in mind my concepts and if found suitable use in the trades or just ignore. Thanks for your opinion.â

TheRumpledOne · Mar 1, 2012

Quote from Macho:

In fairness, TRO does offer an 'exit plan'. The trailing stop,which is one way,but it does not necessarily mean that TRO trades, if in fact he does trade at all, using the trailing stop.

The trailing stop is one way to exit.

Sometimes, instead of using trailing stops, you exit part of the position, move the stop to break even and let the rest of the position ride. That is one way of capturing the bigger moves.