2009.09.10 DRAIN THE BANKS - LIKE A RAT

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stu
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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT

Postby stu » Thu May 21, 2020 2:09 pm

Well, wondering if a bit of discretionary flexibility needs to built into trading plan?

Firstly, I was probably wrong going into this pair for the range was way low, however I've been playing around with an exit strategy in my head the past few days that I wanted to try out. I'd just taken a few minutes break from ripping plasterboard out of the attic so hadn't a lot of time, and I just jumped on the first pair I came to that had a green(ish...I'm colour blind) H1 candle, and showed a wee bit of movement on M1. I made just over a pip on the first trade, coming out when I wanted as opposed to fixed target. The second trade went south on me very quickly, heading down towards the the 10pip stop. I noticed a lot of bars below me to the left, so expanded my stop out to nearly 13 just to allow price to come down that area to see if it popped up again. It did, and I took the first RAT bar combination as my 3rd trade (though maybe need to think about giving it time to bounce next time to get slightly better entry). Up it came, thankfully, and my exit plan wasn't activated all the way up, so I took profit a pip below the mid-pivot and closed the looser at the same time, so a nice wee handful of pips in the pocket. So, this time expanding from 10 to 13 saved a heavier loss - TRO, do you ever play with your stops like that, or do you always keep it simple (i.e. if I'd taken the loss and still traded up the 3rd trade, I'd still have made a pip or two overall and not have 2nd guessed the trading plan, which could be a dangerous thing to start doing)

M1 chart
cT_cs_10373817_USDJPY_2020-05-21_14-50-07.png
cT_cs_10373817_USDJPY_2020-05-21_14-50-07.png (22.43 KiB) Viewed 575 times


Haven't had time to get rat zone indis installed....'The Money Pit' calls dibs on my time this week I'm afraid!

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stu
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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT

Postby stu » Fri May 22, 2020 1:34 pm

A good day today - there was someone somewhere in this thread who was trading off the daily with 100/50 pip SL/TP if I remember right, and TRO was suggesting 10 could still be shot for just as effectively with appropriate position size. Last night I set pending orders against 8 majors based on daily with 10/10 pip SL/TP - 6 triggered and 6 hit TP target.

Dipped in very briefly today again and looked at EU for RAT bar combinations - was a few minutes late to the screen to catch the obvious green setups but I jumped in hoping to catch a few pips and almost the same thing happened today as yesterday i.e. price went straight down. There was 00 line below so tried a wee sell on the way down, then bought a couple of times as price bounced along the 00, then as I was being called for lunch, set all to close at the 23fib (based on todays swing) which worked out nicely.

Hoping to get time to get the RAT indi set up over the weekend so I'm less 'adhoc' with what I'm doing.

cT_cs_10373817_EURUSD_2020-05-22_13-38-46.png
cT_cs_10373817_EURUSD_2020-05-22_13-38-46.png (22.14 KiB) Viewed 528 times

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LeMercenaire
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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT

Postby LeMercenaire » Fri May 22, 2020 3:32 pm

stu wrote:A good day today - there was someone somewhere in this thread who was trading off the daily with 100/50 pip SL/TP if I remember right, and TRO was suggesting 10 could still be shot for just as effectively with appropriate position size. Last night I set pending orders against 8 majors based on daily with 10/10 pip SL/TP - 6 triggered and 6 hit TP target.

Dipped in very briefly today again and looked at EU for RAT bar combinations - was a few minutes late to the screen to catch the obvious green setups but I jumped in hoping to catch a few pips and almost the same thing happened today as yesterday i.e. price went straight down. There was 00 line below so tried a wee sell on the way down, then bought a couple of times as price bounced along the 00, then as I was being called for lunch, set all to close at the 23fib (based on todays swing) which worked out nicely.

Hoping to get time to get the RAT indi set up over the weekend so I'm less 'adhoc' with what I'm doing.

cT_cs_10373817_EURUSD_2020-05-22_13-38-46.png


Is that the Buy Zone principle? Sorry, I'm having a thick day, today and don't quite follow what you mean.

I know that before I contracted it down to just The DAX ('coz I'm lazy), I was bagging +2 pips on as-near-as-dam*** every pair I could chuck a stick at, off the midnight bar (uk time).

stu
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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT

Postby stu » Fri May 22, 2020 3:45 pm

LeMercenaire wrote:
stu wrote:A good day today - there was someone somewhere in this thread who was trading off the daily with 100/50 pip SL/TP if I remember right, and TRO was suggesting 10 could still be shot for just as effectively with appropriate position size. Last night I set pending orders against 8 majors based on daily with 10/10 pip SL/TP - 6 triggered and 6 hit TP target.

Dipped in very briefly today again and looked at EU for RAT bar combinations - was a few minutes late to the screen to catch the obvious green setups but I jumped in hoping to catch a few pips and almost the same thing happened today as yesterday i.e. price went straight down. There was 00 line below so tried a wee sell on the way down, then bought a couple of times as price bounced along the 00, then as I was being called for lunch, set all to close at the 23fib (based on todays swing) which worked out nicely.

Hoping to get time to get the RAT indi set up over the weekend so I'm less 'adhoc' with what I'm doing.

cT_cs_10373817_EURUSD_2020-05-22_13-38-46.png


Is that the Buy Zone principle? Sorry, I'm having a thick day, today and don't quite follow what you mean.

I know that before I contracted it down to just The DAX ('coz I'm lazy), I was bagging +2 pips on as-near-as-dam*** every pair I could chuck a stick at, off the midnight bar (uk time).


You referring to the daily set?...assuming so, I haven't got up to speed on buy-zone yet, but noticed earlier in the thread someone was playing the RAT reversal bar combo at daily level. Red candle closes, then green, put pending long at the top of the red (they were gunning for 50 pips & some discussion ensued). As I've been playing a bit with just the combo, some lines, and no real attention to zones just now, I thought I'd try the dailys last night - they came through big time on the 10/10 principal that TRO seems to work with.

e.g.....daily chart for USDCAD

cT_cs_10373817_USDCAD_2020-05-22_16-52-28.png
cT_cs_10373817_USDCAD_2020-05-22_16-52-28.png (11.82 KiB) Viewed 513 times

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LeMercenaire
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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT

Postby LeMercenaire » Fri May 22, 2020 7:37 pm

stu wrote:
LeMercenaire wrote:
stu wrote:A good day today - there was someone somewhere in this thread who was trading off the daily with 100/50 pip SL/TP if I remember right, and TRO was suggesting 10 could still be shot for just as effectively with appropriate position size. Last night I set pending orders against 8 majors based on daily with 10/10 pip SL/TP - 6 triggered and 6 hit TP target.

Dipped in very briefly today again and looked at EU for RAT bar combinations - was a few minutes late to the screen to catch the obvious green setups but I jumped in hoping to catch a few pips and almost the same thing happened today as yesterday i.e. price went straight down. There was 00 line below so tried a wee sell on the way down, then bought a couple of times as price bounced along the 00, then as I was being called for lunch, set all to close at the 23fib (based on todays swing) which worked out nicely.

Hoping to get time to get the RAT indi set up over the weekend so I'm less 'adhoc' with what I'm doing.

cT_cs_10373817_EURUSD_2020-05-22_13-38-46.png


Is that the Buy Zone principle? Sorry, I'm having a thick day, today and don't quite follow what you mean.

I know that before I contracted it down to just The DAX ('coz I'm lazy), I was bagging +2 pips on as-near-as-dam*** every pair I could chuck a stick at, off the midnight bar (uk time).


You referring to the daily set?...assuming so, I haven't got up to speed on buy-zone yet, but noticed earlier in the thread someone was playing the RAT reversal bar combo at daily level. Red candle closes, then green, put pending long at the top of the red (they were gunning for 50 pips & some discussion ensued). As I've been playing a bit with just the combo, some lines, and no real attention to zones just now, I thought I'd try the dailys last night - they came through big time on the 10/10 principal that TRO seems to work with.

e.g.....daily chart for USDCAD


cT_cs_10373817_USDCAD_2020-05-22_16-52-28.png


Gotcha'. So it's a Daily RAT. Kinda'...

A RAT is formed in the zone back away from that day's extreme (H or L), so would you form a zone on say, the Weekly extreme, or just look for that candle change pattern.

That's just brought something back to mind...

Once upon a time, Pippy and I looked at a doo-dah called The Daily Colour Change Candle set up (it's on YT). Can't remember enough about it but may be worth looking at to see if there is any cross over with what you're thinking.
Last edited by LeMercenaire on Fri May 22, 2020 7:39 pm, edited 1 time in total.

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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT

Postby LeMercenaire » Fri May 22, 2020 7:38 pm

LeMercenaire wrote:
stu wrote:
LeMercenaire wrote:
Is that the Buy Zone principle? Sorry, I'm having a thick day, today and don't quite follow what you mean.

I know that before I contracted it down to just The DAX ('coz I'm lazy), I was bagging +2 pips on as-near-as-dam*** every pair I could chuck a stick at, off the midnight bar (uk time).


You referring to the daily set?...assuming so, I haven't got up to speed on buy-zone yet, but noticed earlier in the thread someone was playing the RAT reversal bar combo at daily level. Red candle closes, then green, put pending long at the top of the red (they were gunning for 50 pips & some discussion ensued). As I've been playing a bit with just the combo, some lines, and no real attention to zones just now, I thought I'd try the dailys last night - they came through big time on the 10/10 principal that TRO seems to work with.

e.g.....daily chart for USDCAD


cT_cs_10373817_USDCAD_2020-05-22_16-52-28.png


Gotcha'. So it's a Daily RAT. Kinda'...

A RAT is formed in the zone back away from that day's extreme (H or L), so would you form a zone on say, the Weekly extreme, or just look for that candle change pattern.

That's just brought something back to mind...

Once upon a time, Pippy and I looked at a doo-dah called The Daily Colour Change Candle set up (it's on YT). Can't remember enough about it but may be worth looking at to see if there is any cross over with what you're thinking.


https://www.youtube.com/watch?v=oZZ97DxWNYw

stu
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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT

Postby stu » Fri May 22, 2020 10:15 pm

LeMercenaire wrote:
LeMercenaire wrote:
stu wrote:
You referring to the daily set?...assuming so, I haven't got up to speed on buy-zone yet, but noticed earlier in the thread someone was playing the RAT reversal bar combo at daily level. Red candle closes, then green, put pending long at the top of the red (they were gunning for 50 pips & some discussion ensued). As I've been playing a bit with just the combo, some lines, and no real attention to zones just now, I thought I'd try the dailys last night - they came through big time on the 10/10 principal that TRO seems to work with.

e.g.....daily chart for USDCAD


cT_cs_10373817_USDCAD_2020-05-22_16-52-28.png


Gotcha'. So it's a Daily RAT. Kinda'...

A RAT is formed in the zone back away from that day's extreme (H or L), so would you form a zone on say, the Weekly extreme, or just look for that candle change pattern.

That's just brought something back to mind...

Once upon a time, Pippy and I looked at a doo-dah called The Daily Colour Change Candle set up (it's on YT). Can't remember enough about it but may be worth looking at to see if there is any cross over with what you're thinking.


https://www.youtube.com/watch?v=oZZ97DxWNYw


Thanks Lem, seems very similar principal...just a few differences I think I noticed from when Avery & the other poster were discussing it. RAT way has just one pending order (the video brackets both ends of the day) and Avery was advising 10 pips TP and entry again next day rather than going for the big multi day pip run as per the video.

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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT

Postby tuxman » Sat May 23, 2020 2:37 pm



Indeed quite insightful, thanks!

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