2009.09.10 DRAIN THE BANKS - LIKE A RAT

[frang0nve]

[align=center]Tripped


Stripped


[/align]

[turboeskimo]

Oh, sorry, my eyes see one thing, but my brain converts it to another:)

So in this case tripped means "triggered"? But where the arrows come from? I've not got it in my preset.

[TheRumpledOne]

Tripped not stripped.

The entry is TRIGGERED.

[turboeskimo]

And where arrows came from on chart?

[turboeskimo]

Ok, we figured it out that "triggered"

Now, it happens that You should have entered at every arrow? Or what?

Btw, if I bother You, just tellme and I'll stop asking questions.

[jsme]

Ok, we figured it out that "triggered"

Now, it happens that You should have entered at every arrow? Or what?

Btw, if I bother You, just tellme and I'll stop asking questions.

The arrows are from a donation indicator I believe.

No you would not enter on each arrow. I do not use the arrows myself. I only enter long. I am a green rat. I use the M5 time period.
That means I wait for a daily low to form
I wait for the red candle to close.
I wait for a green candle to close after the red or low candle.
If the green candle is formed with a high within 20 pips of the low for the day.
I enter a trade long when prices (bid price) touch the green candles high.
My stop is 10 pips below the entry.
My target is what I can get based on how fast the market is moving in my favor.
It my trade is triggered and then things move along slowly. I exit at the first sign of profit.
If my trade is triggered and prices start to make a fast move up. I wait for a while before I exit.
It works pretty well.

If a person does not ask questions how can they learn?

[turboeskimo]

"If the green candle is formed with a high within 20 pips of the low for the day." This finally cleared up my thoughts about "20 pips s the OPPORTUNITY" I was wondering "what the 20 pips", "what are they talking about"... Now I finally understood what was that 20 pips about. THANKS VERY MUCH!!!:)

[turboeskimo]

Btw. If I have FIVE digits after dot (1.32855 for example) I need to count 20 pips as if I had 4 digits?

[jsme]

Btw. If I have FIVE digits after dot (1.32855 for example) I need to count 20 pips as if I had 4 digits?

Correct, you are most welcomed.

[TheRumpledOne]

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.

"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."