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Thread: "Drain the banks" scalping method by TRO

  1. #41

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    Hello Blackwolf,

    Nice post. Awhile back on this forum Tro was boasting how easy his systems are so I posted if it was that easy and profitable just make an ea out of it.
    Let's just say he did not. If someone can make a profitable ea out of this method then I am all for it. I do know Tro did not and I believe he has not done it not because he does not believe in them but for other reasons which I will not get into.

    Regards,
    Jeff

    Quote Originally Posted by BlackWolf View Post
    Excellent post, sahars, thanks! Looks like you're posting Never Lose Again method but I thought this thread was for Drain The Banks EA? Either way is fine, just want to make sure we're tracking the same fish

    Also, if you reference TRO's thread on Kreslik dot com, for Drain The Banks Rev 06 (the latest version), his rules are very simple. He leaves the TP up to you but suggests 5 pips and the SL is what you are comfortable with as per your own money management rules:

    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.

    TRO is not fond of EA's and understandably so but many of us have full time jobs and, if for no other reason, EA's help a lot with testing and optimization. TRO is an amazing and generous person and I have no problem whatsoever making a small donation to him (have done so myself) for his work (and special indicators). However, just a gentle reminder to all here... TRO often updates his indicators and trade methodology. As such, don't post his indi's here. Rather, post the link to where he posts and updates them. That way, future viewers will know where to get the latest updates and TRO won't be fussin' at ya!

    Now, let's rock this EA!!!

  2. #42
    Junior Member BlackWolf's Avatar
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    Hey Big Jeff! It was good to see you here. I saw that post you're referring to with TRO and the EA. PM me if you have some insights on this. I'm always willing to look at things from different angles but less likely to give up the ship that easy. Sometimes a tweak here and a twist there can do the trick. As you might have guessed, I've taken a vacation from VSA. Good to see you still around, my friend!

  3. #43
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    Thumbs up we need this EA!

    Hi @ all,

    the system "Drain the banks" by TRO works great, i'm trading it manually. I have changed the rules: i'm trading only the second and third level semafor on 60min timeframe and i have set the trigger to 15 pips distance on 15min timeframe. No need to have fear of the spread, you catch great pips.

    Problem: You will have two or three bad entries before you get the right moment. I don't hold the first positions, i'm using a tight martingale to compensate this. Maybe TRO can give us a hint, how to manage this problem?

    Nothing at all, this system is great and a EA would make us all very very happy!

    Regards

    Criss

  4. #44
    Junior Member BlackWolf's Avatar
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    Quote Originally Posted by crissfx View Post
    Hi @ all,

    the system "Drain the banks" by TRO works great, i'm trading it manually. I have changed the rules: i'm trading only the second and third level semafor on 60min timeframe and i have set the trigger to 15 pips distance on 15min timeframe. No need to have fear of the spread, you catch great pips.

    Problem: You will have two or three bad entries before you get the right moment. I don't hold the first positions, i'm using a tight martingale to compensate this. Maybe TRO can give us a hint, how to manage this problem?

    Nothing at all, this system is great and a EA would make us all very very happy!

    Regards

    Criss
    Criss,

    Do you or have you (or anyone else for that matter) looked at or attempted to factor in the psych levels (00, 25, 50, 75) as points of entry when you get the trade entry signals? I'm just wondering if this may help with the problem of the too early or late entry points? Perhaps using them as such?

  5. #45
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    Lo BlackWolf,

    i haven't thought about it, i will test this. The main problem is the semafor indi, it is a zig-zag indi which repaints, so some entries are needed. But i will test, i will also hold the entries, mabybe this can also be very usefull. I have checked my last trades and entries, this could work. I will post tomorrow at beginning of N.Y. session.

    Regards

    Criss

  6. #46
    Junior Member BlackWolf's Avatar
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    Yeah, she repaints all right, I knew that from past experience with it but that's ok so long as she gets you in the ball park. From there, you just need to zero in and although I haven't tested it yet, but I betcha if you're close to a psych level, using that as your entry might work. Look at your past trades and see if you would have been better positioned at those levels. Lemme know what you find out.

  7. #47

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    Guys I might be getting the wrong end of the stick... i hope you are not confusing two of TRO's methods: 'never trade again' and 'drain the banks' are two different methods.

  8. #48
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    Quote Originally Posted by Viv108 View Post
    Guys I might be getting the wrong end of the stick... i hope you are not confusing two of TRO's methods: 'never trade again' and 'drain the banks' are two different methods.

    Hi,

    You sure its "never TRADE again" and not "never lose again"? Personally, I am not ready to give up trading...yet?

    Ok, so I know its a typo and I'm just having a chuckle at your expense.

    Now then, there is an EA on this forum based on TRO's indicator and you can find it here: http://www.tradingsystemforex.com/3840-post27.html

    Regards,

    GF

  9. #49
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    Quote Originally Posted by Russ-Trader View Post
    Thanks for the video GF. This EA certainly does work with the very small spreads indicated but has to be tested with higher spread brokers (which 99.9% of them are) - I know I'm just repeating what's already been said here..

    But ALL of it is largely irrelevant unless somebody (by which I mean Funyoo unless someone else is volunteering.) actually codes the trading system into an EA which we can then all test on our various brokers platforms with all their different spreads... Who has the skill and time folks?

    If I'm right we already have the system and can trade it manually now so the coding seems to be the only issue here. I'm sure it wouldn't be hard for Funyoo to include various exit methods with maybe a different indicator used (possibly the BB_MacD already popular in the thread "Pattern EA". I'm sure that would be just a bit of copying and pasting..

    Anyway until an EA arrives there's not much we can do...

    I trade with FXCM (Just moved to the UK Branch to beat the hedging rule which was totally painless) There spreads right now 12:34 GMT are:
    eurusd = between 2 and 2.5
    gbpusd = approx 2.5
    eurjpy = varying but under 3

    They are a non-dealing desk broker and told me they couldn't care less whether I scalped the market or not. They have absolutely no-problem with it as they simply pass the orders on.. Very good telephone support too..

    So we're waiting....
    Thank you Russ!

    I created and posted the video so others who had not downloaded the platform could see what I was seeing. No entry rules...no exit rules...just plain old price action. From the price action, it is possible for somebody to put together an EA so we can test it and post results for everybody's benefit. Yes, the spreads make the difference and even though most will not be able to benefit from 1 to 3 pip spread, some do.

    So, as long as we can collectively contribute in a positive manner and share our findings, then we will eventually know if the EA that I am still testing on the platform that I downloaded (from a link posted here) has any merit or not.

    By the way, for those who have not downloaded the platform and are not running the test, you might want to know that there no way to access the code, the parameters or anything else about this EA other than what I have posted here.

    In a little over 48 hours this is what the test platform is showing:

    GF
    Attached Images Attached Images "Drain the banks" scalping method by TRO-detailedstatement2-gif 
    Last edited by funyoo; 07-19-2012 at 14:48.

  10. #50
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    "By the way, for those who have not downloaded the platform and are not running the test, you might want to know that there no way to access the code, the parameters or anything else about this EA other than what I have posted here."

    So, for what is the statement? Just to show off ?

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