[TheRumpledOne]

Remember what H. Rearden said:

Now, 2 patterns of market behaviour happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

[TheRumpledOne]

THIRD TIMES A CHARM...

[rigel]

TRO

1. I am not bothered about what Rearden or anybody else said, my question is pertinent to what you are posting. If it has nothing to do with timeframe, then how are you determining high and low of the bar, any bar has to be in some timeframe)

2. What does "default parameters" mean. I requested clarification, after about 4posts I am none the wiser.

3. It appears that you alone understand the methodology and are having problems getting it across to the readers here. perhaps you need to make some effort in expanding on your comments.

[TheRumpledOne]

Déjà vu

[forrestang]

Originally Posted by rigel »

TRO

1. I am not bothered about what Rearden or anybody else said, my question is pertinent to what you are posting. If it has nothing to do with timeframe, then how are you determining high and low of the bar, any bar has to be in some timeframe)

2. What does "default parameters" mean. I requested clarification, after about 4posts I am none the wiser.

3. It appears that you alone understand the methodology and are having problems getting it across to the readers here. perhaps you need to make some effort in expanding on your comments.

TRO is sometimes vague, maybe I can help......

1. High or low of the bar is just that, the 'high' or 'low' of the bar.

2. Use a 15min chart, if you want less trade on an hour chart.

3. Explanations are always vague.

The explanations though are rather simple. And with all the TRO indicators, he does tell you EXACLTY what they are doing. TRO just puts in cute little graphical representations that make people think it's something special, like it looks like that little square is the zone that is 20 pips within the day's High and the days low. He's also added a counter to tell you how many pips off the low price has come each time it falls down there.

If you wanted to trade this way, you don't even need the indicator. Just wait for price to get within 20 pips of the days low, wait till you see a bar that has a close greater than it's open(an up bar), note the highest price of the bar. Enter on a buy stop right above that bar. And ONLY trade in one direction, ALL OF THE TIME. Set a daily goal and do not trade all day. The point is to compound your account by a % each day. Rather simple strategy right?

The stop loss is posted.

Now..... trade management is the MOST IMPORTANT PART. This is something TRO DOES NOT explain. But for the most part, most people don't explain how to manage the trade or money. So this is something you'll have to figure out.

Possible suggestions:
-Go for a fixed target maybe to give a favorable r:r
-Trail stop on bar lows
-exit on two reversal bars
-target a prior resistance point

You'll be stopped out from time to time of course.

[TheRumpledOne]

PRICE ROSE THROUGH LAST WEEK'S LOW...

[TheRumpledOne]

OPPORTUNITY...

[TheRumpledOne]

Remember what H. Rearden said:

Now, 2 patterns of market behaviour happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)