2009.09.10 DRAIN THE BANKS - LIKE A RAT

[Pro Trader]

UJ Long

Simple green rat trade within 20 pips of the daily low and with H1

Red candle close
Green candle close (above H1)
Long at high of green candle

I entered at the pysch line 93.50

More cheese now I'm full

[Crazy Kiter]

Firstly, thank you TRO and others for posting your trades learning lots(or should I say unlearning). nearly two years of indicator madness and after spending the last few weeks of simplifying I am getting more consistent positive results. ProTrader, when you save the picture in MT4 use the 'Active Chart(as is)' setting and it will copy the picture as you see it. Alternately download WisdomSoft Screen hunter which is free and allows you to take snap shots of selected parts of the screen. Thanks again, now back to finishing the NLA thread.

CK

[Brew84]

Hiya Pro Trader,

I just want to clairfy something! Does the green candle have to close above the H1 for it to be a rat reversal?

[Pro Trader]

Thanks CK only thing with that is it's not as zoomed in as I like it. I will have a play around next time I post. I think its clear enough to see the setup anyway, I'm just a bit fussy.

Brew84 you can trade a rat reveral anywhere but as TRO says, its best not to trade against H1. I tried to trade against H1 in the past but for me there were too many losers so now I will only trade with H1 as its a safer trade.

Thats just the way I do it. I know others trade against H1 but it's the traders choice at the end of the day

[Brew84]

Thanks for that Pro Trader!

I had far to many losers yesterday (happily it was a demo!!)

Im looking for it to be 20 or less on the ClLo and now im also checking the H1 chart to make sure it is green!

Ill see how I get on like that and let you know!

Thanks again!

[Pro Trader]

Thanks for that Pro Trader!

I had far to many losers yesterday (happily it was a demo!!)

Im looking for it to be 20 or less on the ClLo and now im also checking the H1 chart to make sure it is green!

Ill see how I get on like that and let you know!

Thanks again!

Cl-Lo 20 or less is opportunity yes. You don't necessarily need to check the H1 chart itself you can just use the TRO_Multimeter_candlecolor to show you where the H1 price is and whether its green or not. Thats the indi at the top right of my charts. The one below it lets you know how many pips above or below the open the price is for each chart periods. I also find that useful though you don't need it to trade the rat. That one is donational.

Yes see what works for you.

Happy Trading

[bredin]

Brew,
use the TRO_MM_Candlecolor (I think...) to display a Multimeter of curent candle colors, so you dont have to change charts.

G.

[Brew84]

Thanks for the advice Pro Trader and bredin!

Ill post my results tomorrow!

[TheRumpledOne]

RESULT.

Remember the entry is within 20 pips of the daily low.

[TheRumpledOne]

RESULT.