trueblueTEX wrote:I ended up with 5.3 pips on that trade you just posted, Avery. It looked to me like it was stalling on that second Green candle after the bottom red candle, so I bailed.
Obviously, I could have gained more.
trueblueTEx,
But was it REALLY obvious though??:
Your post reminds me of this:
TheRumpledOne wrote:if price moves in your favor 2 pips and then stops...
if you do not take 2 pips and lose 10
who is to blame?
here's what happens...
first trade...
price moves up 2 and stops
trader takes 2 pips and then price zooms up another 20 + pips
trader gets mad
second trade
price moves up 2 pips and stops
trader THINKS and decides NOT to take the 2 pips
price drops and stops trader out
so... 2 + 2 = 4 (RAT)
or
2 - 10 = -8 (YALE STUDENT)
YOU DECIDE
WHEN PRICE STOPS MOVING... DO YOU KNOW WHAT WILL HAPPEN NEXT?
the idea is to be PROFITABLE PERIOD
Now, I don't
purely look to get my pips from DTB'ing LIKE A RAT withing 20 pips of the extreme, but when TheRumpledOne confirmed this was & is a proper mentality to have for scalping, it meant the world to me and confirmed that one need not DRAIN each Rat Reversal for it's full worth (which you would only know in
hindsight) in order to be carrying out this scalping procedure correctly.
TheRumpledOne wrote:TygerKrane wrote:TheRumpledOne,
Would you say that
regardless of the method you had been using over the
years (be it "Anatomy of Draining the Banks", "Draining the Banks Rev. 8", "Draining the Banks Rev. 9", "Drain the Banks - Like A Rat" --{Anybody else see a pattern theme here??}--, or "Buy Zone"), your mentality / how you approached trading on a
daily basis was always as in the below post?
TheRumpledOne wrote:if price moves in your favor 2 pips and then stops...
if you do not take 2 pips and lose 10
who is to blame?
here's what happens...
first trade...
price moves up 2 and stops
trader takes 2 pips and then price zooms up another 20 + pips
trader gets mad
second trade
price moves up 2 pips and stops
trader THINKS and decides NOT to take the 2 pips
price drops and stops trader out
so... 2 + 2 = 4 (RAT)
or
2 - 10 = -8 (YALE STUDENT)
YOU DECIDE
WHEN PRICE STOPS MOVING... DO YOU KNOW WHAT WILL HAPPEN NEXT?
the idea is to be PROFITABLE PERIOD
Yes.
So just like in TRO's example, remind yourself
[highlight=yellow][font=Comic Sans MS]when you're in the heat of a trade[/font][/highlight];
Is it 2 - 10
or
2 + 2
for you?
-----------------------
All that being said, I do congratulate you on your successes you post, and the progress you've been making learning this method. <But it totally sounded like you were leaning towards passing up on your
next 5pip trade, so I felt to speak up.>
~Krane
johnedward 
so I'll shut up again 
