Questions
Drain the banks
I found this and it looks interesting:
You can call this one DRAIN THE BANKS FOR DUMMIES...LOL!!
New input TrainingWheels (default = true) checks the H1 Bias and will only display the reversal trade when it matches the H1 candle color. Also, it will not display the reversal trade during a break out. If TrainingWheels = false, then TRO_DYNAMIC_FIBS_SR_Trail functions just like before.
I also added a LONG WICKED CANDLE PATTERN (LWP) display. I found this idea in the nickbmethod PDF.
This is a simple method that, when applied properly ( and don't load up the charts with SQUIGGLY'S ), will enable you to NEVER LOSE AGAIN!
1) Only trade if there is a 1, 2 or 3 semafor on the current or previous H1 candle. NO EXCEPTIONS.
2) After you see the semafor on the H1 chart, look at the M15 chart for the long(light blue) and short(pink) triggers based on TRO DYNAMIC FIBS SR TRAIL indicator.
3) When price touches the trigger you enter. DON'T THINK, JUST ACT!
4) Only ONE TRADE PER M15 CANDLE. If price goes against you, just wait.
5) If price went against you and makes a new dynamic sup/res level, get ready to enter at the trigger. If you can't see how this work, then DO NOT TRADE IT. I have entered up to 3 times.
6) What's the STOP LOSS? The stop loss is your maximum allowed loss per trade based on your money management.
7) What's the TAKE PROFIT? You take what you can. I usually take 5+ pips and leave more on the table.
Try this method using a micro lot or 0.1 mini lot. Trade it this way until you feel comfortable and are profitable on a consistent basis. Just trade it, AS IS, and don't add anything to it to improve it. You'll be amazed at how profitable a simple method can be.
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Tags: technical-analysis
