2009.09.10 DRAIN THE BANKS - LIKE A RAT

[TheRumpledOne]

Hi TRO,

I have read some of the posts here and listened to your interview. You mentioned that you are a green rat. Do you never trade as a red rat? Do you ever say to yourself, "Hey, this market isn't going up. I recognize that and I will trade as a red rat."?

I understand that you do not trade based on support resistance, trend, etc. So what if a stock or currency pair is making lots of red candles (downtrend Will you try to trade long even though the trade is likely to be shorter lived than one placed as a red rat?)

Thanks

When I start trading, I look at the GPS gauge. That tells me what pairs, if any, are in the green rat zone. I pick one or 2 and trade those pairs that day.

When you switch from long to short and back, you are a YALE STUDENT.

[TheRumpledOne]

Here is an idea for everyone that is asking questions when every one that you ask has been answered repeatedly in the 306 pages of this thread.

Whatever question you have about how to trade, why don't you just try it. If it doesn't work and you LOSE, do the opposite and then you will WIN.

Its not rocket science.

Sometimes it is hard to find the answers.

I don't mind people asking. I usually can copy/paste the answers...LOL!!

REPETITION IS THE MOTHER OF SKILL.

[ajaymein]

Here is an idea for everyone that is asking questions when every one that you ask has been answered repeatedly in the 306 pages of this thread.

Whatever question you have about how to trade, why don't you just try it. If it doesn't work and you LOSE, do the opposite and then you will WIN.

Its not rocket science.

Sometimes it is hard to find the answers.

I don't mind people asking. I usually can copy/paste the answers...LOL!!

REPETITION IS THE MOTHER OF SKILL.

OH YEA...I forgot about the NOTEPAD and CTRL+C and CTRL+V...

[BrandX]

TRO

Did you use extra rules in your live trading ?

Because those 2 rules : red candle closes and green candle closes
in the lower rat zone box for 1 hour chart is not enough

can you tell us what rules you use in actual trading ?

Go back and read previous post, you will see the answer so many times your eyes may cross. I spent a week reading this post, copying and pasting notes, and as soon as my eyes uncross I will try it.
Also, you will find very many files and templates to download and apply to your charts so you can actually watch the market opportunities unfold.

[ewcraigs]

TRO,

I realize you don't subscribe to trend, support resistance. Say for instance you have a lot of red candles (if we may, let's call that a downtrend). It is obvious that the trades against the red candles are usually shorter. Being a green rat, do you still take these long trades?

Thanks

Hi TRO,

I have read some of the posts here and listened to your interview. You mentioned that you are a green rat. Do you never trade as a red rat? Do you ever say to yourself, "Hey, this market isn't going up. I recognize that and I will trade as a red rat."?

I understand that you do not trade based on support resistance, trend, etc. So what if a stock or currency pair is making lots of red candles (downtrend Will you try to trade long even though the trade is likely to be shorter lived than one placed as a red rat?)

Thanks

When I start trading, I look at the GPS gauge. That tells me what pairs, if any, are in the green rat zone. I pick one or 2 and trade those pairs that day.

When you switch from long to short and back, you are a YALE STUDENT.

[TheRumpledOne]

I trade WHAT I SEE.

Always remember the #1 Rule of Thumb

DO NOT TRADE AGAINST THE H1 CANDLE COLOR.

-------------------

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

[wkestler]

But that rule never has been showed up in the drain the banks rules, as far as i remember. Is that true? so that should be rule number 8??

[TheRumpledOne]

It is a RULE OF THUMB - not written in stone.

New traders should ALWAYS heed it.

Old traders may ignore it, sometimes to their detriment.

[kompakt_74]

"Take whatever profit you can. "

What does it mean?
At what time do you think you have "drain the bank" enough?

I use my EXIT PLAY BOOK to determine when to exit.

OK, and where can I find your EXIT PLAY BOOK ?
It's donationnals?

[TheRumpledOne]

I have not posted my exit play book.

I have posted how to create your own.