craven Posted July 28, 2011 Author Report Share Posted July 28, 2011 craven, once again, THANK YOU for sharing your style of using this indicator. I will study what you have shared and practice this style diligently. You're very welcome, sweetheart! :x Please let us all know how your trading moves along. =) jamestan1978 and fox69 2 Quote Link to comment Share on other sites More sharing options...
jdsim1 Posted July 28, 2011 Report Share Posted July 28, 2011 My recommendation: I would recommend setting your risk at 2% per trade, Risk:Reward = 1:1, and use the nearest relevant high or low to calculate your SL, TP would be set at equal distance from entry point to SL. You will know before the green signal line is broken where your SL and TP are, so you will know what you are risking before you enter into the trade. ***** I use stop orders for the entry setups, it saves me precious time from having to be glued to my screens, win ratio is approximately 70-80% accurate with this plan. I trade it across multiple pairs on M15 + M30 time frames, but I never enter into more than one trade at a time, which means, if I am in a EURUSD trade and a setup comes about on GBPUSD, I will wait for the completion of my active trade before I risk any more money. ***** The suggestions for SL and TP from the indicator are fine for the beginning trader, however, the R:R ratio does not work for me. I will not trade anything that has a Risk:Reward ratio of less than 1:1. ***** My trading plan: I personally prefer using the Risk:Reward ratio setups @ 1:3, use the nearest relevant high or low to calculate my SL, TP would be set @ 3x distance from entry point to SL. I am used to trading 1:3 setups. I am comfortable with these setups, as the mathematics in play require my winning ratio to be at a mere 25% to break even, WR @ 26%+ and I am in the clear zone. Example of R:R = 1:3, based on a total of 10 trades: 25% Winning Ratio Losers = 7.5 trades x 1R = -7.5R Winners = 2.5 trades x 3R = +7.5R BREAK EVEN 30% Winning Ratio Losers = 7 trades x 1R = -7R Winners = 3 trades x 3R = +9R +2R IN PROFIT, if 1R = 2%, then 2R = 4% PROFIT 40% Winning Ratio Losers = 6 trades x 1R = -6R Winners = 4 trades x 3R = +12R +6R IN PROFIT, if 1R = 2%, then 6R = 12% PROFIT 50% Winning Ratio Losers = 5 trades x 1R = -5R Winners = 5 trades x 3R = +15R +10R IN PROFIT, if 1R = 2%, then 10R = 20% PROFIT Craven has provided a lesson in risk reward and I think this is lesson number 1 to be learned by all traders who wish to become successful. Great explanation and it deserves much more thanks than it has received thus far. Risking 90 to gain 10 as in these scalper eas and most eas for that matter is absolutely absurd. Id rather try and be right 26% of the time instead of 92% I have been an opponent of this indicator due to its very poor R:R in its calculations. That being said my interest has been renewed now knowing there has been some success using different SL and TP levels than using the ones the indicator is giving out. Craven, are you using the pullback/rally highs and lows as your stop loss? Just above/below them would be my guess. Then you are just multiplying that by the factor you wish to achieve and set your target? It sounds like you are basically using the entry line but ignoring the tp and sl values. Just looking for clarification. thanks Quote Link to comment Share on other sites More sharing options...
craven Posted July 28, 2011 Author Report Share Posted July 28, 2011 EURJPY Live Trade Examples Here are two live trading examples. Please note that they are both SELL trades, and I use the numbers on my BID chart. Had it been a BUY TRADE, I would have added my approximate SPREAD in pips to the price shown on the green signal line for entry stop orders. I hope the information helps! =) http://img535.imageshack.us/img535/7297/craventrade.png smurf43, jtv, Torres96 and 9 others 12 Quote Link to comment Share on other sites More sharing options...
craven Posted July 28, 2011 Author Report Share Posted July 28, 2011 Profit/Loss Projection The first trade netted +6% and change. If I lose the second trade, I will still be up +4% Winning Ratio @ 50% NETs +4% On the other hand, if my second trade is a winner as well, I will net +12% on the balance of these two trades. Winning Ratio @ 100% NETs +12% Now, if I lost both first and second trades, I would be -4% on account. Winning Ratio @ 0% NETs -4% Does that sounds right to you? If I win one trade and I lose one trade, I can earn +4%?! If I win both trades, I earn +12%?! If I lose both trades, I lose -4%? This is the power of mathematics at play. ⭐ kesk, casper44 and freecash 3 Quote Link to comment Share on other sites More sharing options...
craven Posted July 28, 2011 Author Report Share Posted July 28, 2011 I have been an opponent of this indicator due to its very poor R:R in its calculations. That being said my interest has been renewed now knowing there has been some success using different SL and TP levels than using the ones the indicator is giving out. Craven, are you using the pullback/rally highs and lows as your stop loss? Just above/below them would be my guess. Then you are just multiplying that by the factor you wish to achieve and set your target? It sounds like you are basically using the entry line but ignoring the tp and sl values. Just looking for clarification. thanks You are right on the money, sweetie! :x I couldn't have explained it better myself!! =) piporo 1 Quote Link to comment Share on other sites More sharing options...
retireme Posted July 28, 2011 Report Share Posted July 28, 2011 Dinner for three, can I bring my girl friend?! :x Keep them guessing eh Craven? :)) Quote Link to comment Share on other sites More sharing options...
bulliz Posted July 28, 2011 Report Share Posted July 28, 2011 Craven really appreciated your posts,many thanks Quote Link to comment Share on other sites More sharing options...
dave123 Posted July 28, 2011 Report Share Posted July 28, 2011 Dinner for three, can I bring my girl friend?! :x It would be a pleasure, that I am sure. I digress from the thread topic, appologies :) Quote Link to comment Share on other sites More sharing options...
⭐ kesk Posted July 28, 2011 Report Share Posted July 28, 2011 A good tutorial on money management and risk management by Craven.Wish I had a tutor like you for my begining! Quote Link to comment Share on other sites More sharing options...
craven Posted July 28, 2011 Author Report Share Posted July 28, 2011 Update TP hit on second trade @ 110.86 just now, +6% earnings. That's puts me at +12% for these two trades, a total of +24% and change for this week. I think I will take tomorrow off from trading! =) Quote Link to comment Share on other sites More sharing options...
alright Posted July 28, 2011 Report Share Posted July 28, 2011 RUBICONINDICATOR.COM This past week, I generated a 20%+ return using this indicator, 24%+ return the previous week....Hey craven, I never knew you were back. I'm very pleased to see you posting again after a long time. Thanks for this quality share which looks very interesting. Going to test it straightaway. All the best :) Quote Link to comment Share on other sites More sharing options...
gctex Posted July 29, 2011 Report Share Posted July 29, 2011 Is it possible to modify this indicator to show all trade arrows, instead of the most recent or on-demand ones? Quote Link to comment Share on other sites More sharing options...
gctex Posted July 29, 2011 Report Share Posted July 29, 2011 Craven (or others), which are the best performing pairs you've seen so far with this indicator? Quote Link to comment Share on other sites More sharing options...
deadsoul Posted July 29, 2011 Report Share Posted July 29, 2011 @Craven you are simply amazing...welcome back...thank you for sharing exclusive things... Quote Link to comment Share on other sites More sharing options...
San4x Posted August 2, 2011 Report Share Posted August 2, 2011 Nice work Craven, thanks for sharing indie and knowledge here. Cheers, San. Quote Thanks for the kudos...much appreciated! Link to comment Share on other sites More sharing options...
darkwalker Posted August 3, 2011 Report Share Posted August 3, 2011 thanks for your Sharing which is Caring. Quote Link to comment Share on other sites More sharing options...
chandu1713006579 Posted August 5, 2011 Report Share Posted August 5, 2011 What is the calculation behind take profit and stop loss. Thanks for the share. Quote Link to comment Share on other sites More sharing options...
rick1713006413 Posted August 7, 2011 Report Share Posted August 7, 2011 The first trade netted +6% and change. If I lose the second trade, I will still be up +4% Winning Ratio @ 50% NETs +4% On the other hand, if my second trade is a winner as well, I will net +12% on the balance of these two trades. Winning Ratio @ 100% NETs +12% Now, if I lost both first and second trades, I would be -4% on account. Winning Ratio @ 0% NETs -4% Does that sounds right to you? If I win one trade and I lose one trade, I can earn +4%?! If I win both trades, I earn +12%?! If I lose both trades, I lose -4%? This is the power of mathematics at play. Craven.....what TIMEFRAME are you using in your examples for eur/jpy trades (#53) and do you find yourself using a particular timeframe in other trades? Thanks...great job! Quote Link to comment Share on other sites More sharing options...
retireme Posted August 7, 2011 Report Share Posted August 7, 2011 Is there a difference between this one and the V2 advertised on the website? Rgds RM Quote Link to comment Share on other sites More sharing options...
newbie111 Posted August 7, 2011 Report Share Posted August 7, 2011 Craven.....what TIMEFRAME are you using in your examples for eur/jpy trades (#53) and do you find yourself using a particular timeframe in other trades? Thanks...great job! Rick, no offense to you but, your question does not make any sense at all. You mentioned post #53 but you must not have read it. It's right there in her sample chart. 15 minute chart, If you cant see it, copy the image to your computer and use image viewer, that way you can zoom in and see all the small lettering. If you go back, and read from post #1 you'll see that craven has explained in full detail, how she use this indicator. Quote Link to comment Share on other sites More sharing options...
rick1713006413 Posted August 7, 2011 Report Share Posted August 7, 2011 Rick, no offense to you but, your question does not make any sense at all. You mentioned post #53 but you must not have read it. It's right there in her sample chart. 15 minute chart, If you cant see it, copy the image to your computer and use image viewer, that way you can zoom in and see all the small lettering. If you go back, and read from post #1 you'll see that craven has explained in full detail, how she use this indicator. Couldn't make out the "15 Min" on the chart...however, I would still like to know if that's an isolated incident or if she is using other timeframes....the youtube video discloses that they recommend 30 min...just would like to get Craven's take on it.... Quote Link to comment Share on other sites More sharing options...
San4x Posted August 9, 2011 Report Share Posted August 9, 2011 If anyone here has the Rubicon v2, please share. Would love to compare the two and see if there's a difference. Cheers and thanks, San. Quote Thanks for the kudos...much appreciated! Link to comment Share on other sites More sharing options...
wadesworld Posted August 10, 2011 Report Share Posted August 10, 2011 There is a difference but not major...The major difference will be in the price. It will be moving from $58 to $99 this Fri. I think and by now everyone that has been here from the beginning ought to know if it is something they would like to purchase or not...read Craven's first post. Quote Link to comment Share on other sites More sharing options...
bd007 Posted August 15, 2011 Report Share Posted August 15, 2011 Hi ya all, Does anyone know when the Version 2.0 will be released?......as I recall it as suppose to have been released a month ago... Quote Link to comment Share on other sites More sharing options...
wadesworld Posted August 16, 2011 Report Share Posted August 16, 2011 I got mine emailed to me today......Here are the differences between the two.. Version 2.0 Upgrades Include: Enhanced Currency Pair Audio Alerts: Added to the original alerts "Buy Signal Occurred" and "Sell Signal Occurred" are the Currency Pair names for the six major pairs - AUDUSD, EURUSD, GBPUSD, USDCAD, USDCHF, and USDJPY. If you trade a pair outside of these six you will hear the original Audio Alert. Additional Time Audio Alerts: In addition to the Currency Pair alert you will receive an alert if you are trading on a 5 min, 15 min, 30 min, or 1 hour chart. Size Edits: You can change the size of the trade alert arrow, profit target label, and stop loss label. Color Edits: You can change the color of the spine, and both railroad track indicator lines. Enhanced Security: Each indicator download will include a one time activation key to enhance the security of the indicator and not allow free transfers and downloads of the indicator. murtamad 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.