2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

[nickohorny]

EURJPY



EURUSD



As a newbie to all this, I have narrowed down my trading entries, but I am struggling like a mofo to deal with exit strategies!I keep changing it and picking new ways.

At present I just go for +5 pips each rat trade, ony want +10 a day so don't want to be greedy and so 2 winners will do fine.
BUT I can't help but see some trades fly, and the old saying "let your winners run" just won't ever happen in my exit playbook. Difficult to know what to do!! but then I say "well at least im protecting myself for a drop to SL"
Then I keep saying "I would never be succesful trading for +5 pips with a 10 pip SL, that's 1:2 risk reward, and EVERY pro trader I have read about with advice is to NEVER trade with that risk/reward so I just don't know! exit strategy is the hardest part of trading to deal with imo!

[TheRumpledOne]

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.

[TheRumpledOne]

exit strategy is the hardest part of trading to deal with imo!

Work on your EXIT PLAY BOOK.

[TheRumpledOne]

The chart shows the frequency distribution of HIGH MINUS CLOSE and CLOSE MINUS LOW.

If the candle is RED and you are a GREEN RAT, then close minus low is the bottom wick.

If the candle is GREEN and you are a GREEN RAT, then close minus low is the candle body PLUS the bottom wick.

Note how many times CLOSE MINUS LOW is less than 20.

Do you see the "edge"?

This is only 10 bars of daily data. But the indicator can be set for hundreds or thousands of bars.

Perhaps this will help you understand the reason this method is profitable.

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1) Price within 20 pips of the CURRENT daily low (ClLo < 20): This is OPPORTUNITY

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

[mob]

TRO, sorry, which indy of yours provides the close low count stats?

Cheers

[masapv]

Hello TRO, what are your trading hours? I see you live in AZ, so I'm just wondering if you trade in the wee hours of the morning for London or during the NY hours. Also, since this is based off the current daily low, does it matter which open/close time your chart uses (fxdd is on est. close I think..)? Thanks

[TheRumpledOne]

1) Price within 20 pips of the CURRENT daily low (ClLo < 20): This is OPPORTUNITY

============================================

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

[TheRumpledOne]

TRO, sorry, which indy of yours provides the close low count stats?

Cheers

That indicator will be in the 2012 Donationals.

[TheRumpledOne]

Hello TRO, what are your trading hours? I see you live in AZ, so I'm just wondering if you trade in the wee hours of the morning for London or during the NY hours. Also, since this is based off the current daily low, does it matter which open/close time your chart uses (fxdd is on est. close I think..)? Thanks

I get up around 5 - 6 AM my time.... Look in the upper lefthand corner of the charts I post.

Open/close time doesn't really matter.

[TheRumpledOne]

Hey TRO!

Can you give me a direct link to "HOLO NTRY"? I couldn´t find (and google) anything about it.
Or can you explain / show how to do the "HOLO ENTRY" here?

The TRO HOLO indicators are donational.