2009.09.10 DRAIN THE BANKS - LIKE A RAT

[TheRumpledOne]

Notice what happens when the moving average is going up and price closes above a horizontal line.

Remember the RULE OF THUMB regarding H1 candle color. Do you see it?

[forexbob]

nice TRO, only got the 1st 15 pips of that one

[MAXiMUS_]

hmm... moving averages? ... horizontal lines??

Don't be Yale student TRO ( LOL)

and seriously, are you working on some new strategies? Rat is good enough for me to do 1% daily

[TheRumpledOne]

No.. not working on new strategies. I was answering a question. The chart shows the important part is to enter within the RAT ZONE. The trigger is not as important as the price.

[genlogins]

Ohhhhhhhhhhh noooooooo the 20 pips from the high.

Is that what you are talking about TRO?


Because today I just did some trading on NLA. I Will post there the resyults, could you please be so kind to tell what I missed?

Thanks, Gen

[TheRumpledOne]

Price within 20 pips of the daily low (ClLo <= 20) - that is OPPORTUNITY

Current price - current daily low is less than 20 pips.

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PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.

[TheRumpledOne]

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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.

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The important part is to enter WITHIN 20 pips of the daily low. The RAT REVERSAL is only one entry method.

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PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.

[tmanbone]

Magenta entry, stops moved up to low of each 5m bar, taken out @ last horizontal black line. Continued on without me.

[Humble]

Nice.
I like the brown bar the best.

[paupau]

Hi Tro, I'd like to say Thank you for helping with my trading. I saw this thread quite a while back, but didn't really understand it and I haven't looked at forex after that.

I returned here a couple months ago and started reading everything from the beginning again. I saw a lot of people have been following this method and posted great results, and it got me thinking if this thread has been going on for a year, TRO is still around doing the same thing, his results are still being posted, other people are also still posting their results, then I should be able to do the same thing.

I started a new demo account using oanda since the beginning of last month. I trade using the 7 TRO rules. Although the results are not that great yet, but I managed to keep my balance above the initial amount (I had 2 previous demo account which failed completely within a month time, so this is a good result for me). This is also including a few "revenge trades" that backfired at me (Still learning to stop trading after 2% loss).

I'll be posting my trades to see if I am taking the right/wrong trades.
Today's trade is not a good one, first trade and my SL has been hit, so I have to stop for the day.

Can you let me know why I should not have taken this trade?

Oh and I am a Green Rat

Thanks