2009.09.10 DRAIN THE BANKS - LIKE A RAT

[TheRumpledOne]

Someone asked about trading time frames other than M5.

PRICE IS THE SAME ON ALL CHARTS. You are NOT trading charts, you are trading price.


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DRAIN THE BANKS - LIKE A RAT

for H1 (60 MINUTE) CHARTS.

1) Price within 20 pips of the daily low - that is OPPORTUNITY

2) Red H1 candle closes within 20 pips of the current daily low

3) Go long when current H1 candles is green

4) STOP LOSS IS 10 PIPS

5) Take whatever profit you can.

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


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MAXIMUM RISK = 2% * ACCOUNT BALANCE.

STOP LOSS = 10 PIPS. (INCLUDING SPREAD)

POSITION SIZE = RISK / STOP LOSS.

This is how you make 2% per day.
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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.

Today, I am using the MO REVERSALS indicator that I coded.

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Trading is GUESSING. If it wasn't, you wouldn't need a STOP LOSS.

THINK ABOUT IT!!

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

[pika]

Someone asked about trading time frames other than M5.

PRICE IS THE SAME ON ALL CHARTS. You are NOT trading charts, you are trading price.


<-------------------------------------------------------------------->
DRAIN THE BANKS - LIKE A RAT

for H1 (60 MINUTE) CHARTS.

1) Price within 20 pips of the daily low - that is OPPORTUNITY

2) Red H1 candle closes within 20 pips of the current daily low

3) Go long when current H1 candles is green

4) STOP LOSS IS 10 PIPS

5) Take whatever profit you can.

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


<-------------------------------------------------------------------->

MAXIMUM RISK = 2% * ACCOUNT BALANCE.

STOP LOSS = 10 PIPS. (INCLUDING SPREAD)

POSITION SIZE = RISK / STOP LOSS.

This is how you make 2% per day.
<-------------------------------------------------------------------->

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

Today, I am using the MO REVERSALS indicator that I coded.

<-------------------------------------------------------------------->

Trading is GUESSING. If it wasn't, you wouldn't need a STOP LOSS.

THINK ABOUT IT!!

<-------------------------------------------------------------------->

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

Thank you TRO. So for H1 and above timeframes, we do not enter at the high/low wicks of the green/red reversal candle as in M5, but within the body of the reversal candle inside the 20 pips zone.

[TheRumpledOne]

Pika:


The important part is to enter WITHIN 20 pips of the daily low.

[pika]

Pika:


The important part is to enter WITHIN 20 pips of the daily low.

OK, thanks.

[buddygold]

Do the chart times make a difference (when the new daily candles start)

[TheRumpledOne]

Daily start time is dependent on your broker.

But it doesn't really make a difference as far as THE RAT is concerned.

[genlogins]

When I moved to that time frame................

BUMMMMMMMMM................. NEW VIRUS.........................

I thought I was seeing a new virus. What should I do? (I said)

Switched my Internet Off, and than turned to M1 again.

Than, Back on again.

UUUUFFFFFFF.......... it was just a

BIG Pirate (TRO) Joke......................

[buddygold]

AHA I got it - genius - I get that the time frame doesn't matter but which one do you find best to use
thanks again

[buddygold]

one thing, on my rat zone indicator (shaded area) it is only 5 pips?

[TheRumpledOne]

genlogins: That's not a joke. That is IDIOT MODE. Some people didn't understand when NOT to enter.

buddygold: change the input trigger to 20.