2009.09.10 DRAIN THE BANKS - LIKE A RAT

[TheRumpledOne]

SOMETIMES YOU DO GET LUCKY!

[forrestang]

forrestang

What do you think of taking 3 or 5 or 9 or 10 pips profit. I'd rather take 3 pips on 100 contracts, than 100 pips on one contract. Less time in the post 9/11 market.

Patch
Counting Pips

That is a reasonable suggestion. Just depends on wether you can pick enough trades that will have a high enough win % if you are going to cut profits quickly frequently that overrun your normal 10pip stoploss.

I have been doing really good on various late night swing trades in FX for some time.

I am interested in "The Rat" specifically for the NY/London session trading for quick/constant targets with some decent size.

I will nail a simple profit/stop strategy down soon.

[AndreasF]

The RAT method is really amazing- simple and profitable.
I mainly use it on H1- less entries compared to M5 but more pips and I don't have to spend every minute in front of the screen.

Thanks, TRO - you did excellent work

Andreas

[noone22]

SOMETIMES YOU DO GET LUCKY!

Is it about luck?

TRO, in this trade, have you waited
for semafor to appear against your direction
or candle to become red and move down significantly
to exit?

In the middle of this up trend you may not know,
whether it's going to continue up or will go down.

If I'm exiting the long trade (with profit),
and price is continue rising up -
I never regret, because I'm happy to catch some cheese
and know, that cannot catch them all.

[SpankTheBanks]

TRO, can we have an alert added to the Rat Plot indicator? (when price crosses the line). Cheers.

[TheRumpledOne]

The RAT method is really amazing- simple and profitable.
I mainly use it on H1- less entries compared to M5 but more pips and I don't have to spend every minute in front of the screen.

Thanks, TRO - you did excellent work

Andreas

You're welcome.

Now give D1 a try...LOL!!

[TheRumpledOne]

SOMETIMES YOU DO GET LUCKY!

Is it about luck?

TRO, in this trade, have you waited
for semafor to appear against your direction
or candle to become red and move down significantly
to exit?

In the middle of this up trend you may not know,
whether it's going to continue up or will go down.

If I'm exiting the long trade (with profit),
and price is continue rising up -
I never regret, because I'm happy to catch some cheese
and know, that cannot catch them all.

I am defining LUCK to mean when you have a favorable outcome or result in situation that you can NOT control 100%.

You are asking about the exit. I take what I can. I have no "set" method.

[TheRumpledOne]

TRO, can we have an alert added to the Rat Plot indicator? (when price crosses the line). Cheers.

The reason I did NOT put an alert on the RAT PLOT is because you will be entering too late.

But I guess I could give you an "early warning"....

[TheRumpledOne]

I have explained the RAT REVERSAL before but I'll do it again:

1) price within 20 pips of the daily low - that is OPPORTUNITY

2) red candle closes

3) green candle closes - note the high price of the green candle.

4) enter long at the green candle's high price

5) STOP LOSS IS 10 PIPS

6) Take whatever profit you can.
__________________

[johnsund]

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In at 6340 out at 6355. Follow th rules to make pips over and over and over!!!