2009.09.10 DRAIN THE BANKS - LIKE A RAT

[cosmoe1]

Hey Mo,

check this out LOL.

Got out first time because it hit the 61.8 Fib.
took second trade because of news release.
i normally don't trade the news, but sometimes I trade the rebound of news trading. Something I picked up from a veteran trader.
Set T.P. @ the 161.8 Fib

Cosmoe1

Hmm, interesting

Cos

My FxPro chart does NOT go up that high on the CHIEF!! I have a gap of a couple of bars and only shows a High of 1.06990.

Even if switch it to M15, I still have a gap and the high is 1.06990.

[cosmoe1]

With a separate order entry system that's not on your chart, how do you get a visual on what's going on with the orders and stops?
It seems like it would be awkward and hard to manipulate in a fast moving market but apparently it's working for you guys. I'm highly visual and used to seeing my order on the chart. I guess if I want to drain some I need to get used to two systems.
Thanks for your suggestions.

the 50" plasma monitor helps a wee bit too. LOL

Cos

[trueblueTEX]

With a separate order entry system that's not on your chart, how do you get a visual on what's going on with the orders and stops?
It seems like it would be awkward and hard to manipulate in a fast moving market but apparently it's working for you guys. I'm highly visual and used to seeing my order on the chart. I guess if I want to drain some I need to get used to two systems.
Thanks for your suggestions.

the 50" plasma monitor helps a wee bit too. LOL

Cos

Cosmoe,

what pairs do you look at?

Tex

[cosmoe1]

same as Tro

Cos

[tommydq]

Red Rat single trade day, +10 on first half +18 on second.

[left]http://i756.photobucket.com/albums/xx202/tommydq/Forex%20Trading%20-%20Two%20Percent%20Per%20Day/2010-07-02-usdchf.png[/left]

[tfg]

Avery, I am going thru the entire thread again and notice below you did mention 5 min, 15 min, or 60 min for rat trades.

Is this still the case? I question because all your posted trades are only on 5 min. Is there any significant, as far as rat trade is concerned, on 5 min that I miss?

tfg.

A) Price makes new low for the day or is within 20 pips of low of the day

B) Previous candle is green ( 5 min, 15 min or 60 min )

C) Enter at previous candle high

Look at the chart:

See those 2 red candles near the bottom...

See the next candle was green...

See then next candle break the previous green candle's high - that was your entry...

See the profit!!!

[TheRumpledOne]

DRAIN THE BANKS - LIKE A RAT


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.

7) If the rules do not mention it, then it is of no concern.

After getting many, many (Yale student type) questions, I have added rule #7.

[cosmoe1]

Red Rat single trade day, +10 on first half +18 on second.

[left]http://i756.photobucket.com/albums/xx202/tommydq/Forex%20Trading%20-%20Two%20Percent%20Per%20Day/2010-07-02-usdchf.png[/left]

Nice one Tommy. Perfect setup, perfect execution.

Cosmoe1

[TheRumpledOne]

Avery, I am going thru the entire thread again and notice below you did mention 5 min, 15 min, or 60 min for rat trades.

Is this still the case? I question because all your posted trades are only on 5 min. Is there any significant, as far as rat trade is concerned, on 5 min that I miss?

tfg.

You can trade RAT REVERSALS on any time frame.

[cosmoe1]

Drain the banks you red rats.. LOL

Cos