DEMO trading using TRO's Drain the Banks methode

[forexinvest]

Hello,

I have been demo trading Drain the banks system since two years.
I am still not constantly profitable so I will be posting below screens from my trades.

TRO or any traders who are profitable using this method, please post your comments

I am trading mostly GBP/USD beginning at 08:00 CET.
I trade when H, W are green, D can be both green or red

Thanks
Marcin

[forexinvest]

Todays Trades 28/08/2014

1. 4 pips (including spread)
- I entered because green did HH, then previous red bar
- exited when bar at 3:50 did LL then bar at 3:45 (assumed price going down)

2. 2 pips (including spread)
- I entered because green did HH, then previous red bar
- I exited because SL has been hited at 2 pips according to my plan

What do you think about this trades?

What do you think if I should enter earlier at 3:10 even if bar at 3:10 didn't do HH then bar at 3:05?

In general my question is : I know that strategy do not say anything about it but should I focus only on trades in which green bar do HH than previous red bar? or should I take all trades?

[TheRumpledOne]

DRAIN THE BANKS - LIKE A RAT

1) price within 20 pips of the CURRENT 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.

[lockonstratos]

it takes month for me to really understand this method. But there is a few nice to now info before you take the trade.
1. Rules of thumb : Trade on the Daily Bias
2. Turn on the Trailing, well...at the lowest pips allowed by your brokers.
3. Trade What You See... (this might come a little while after this).

[forexinvest]

Todays Trades 22/09/2014 - Monday question

Tro in the topic you mentioned to "You can wait for price to move at least one ATR or 100 pips away from the daily open"

This is screenshot from yesterday, could you please higlight somehow in which point we should consider going into the trade.

Thanks,
M

[TheRumpledOne]

If you were a green rat... then you would enter within 20 pips of the daily low.

If you are a red rat, in this case, you would be waiting for the price to move at least 100 pips away from the daily open and then enter.

[forexinvest]

Yesterday's (Monday)Trades 07/10/2014

Tro regarding trade number 3:
This would be my first trade H, D, W were green. Price went up only 2.5 pips, then retraced 7. Should I exit and then take trade number 4? or I stay in trade till price goes up (4:05)?

[TheRumpledOne]

DRAIN THE BANKS - LIKE A RAT

1) price within 20 pips of the CURRENT 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.


Why not take 1 and 2?

Taking 3 would have been profitable had you waited.

[forexinvest]

Here are my answers:

regarding 1):
- I would not take it because it was against 1H (you mentioned in the topic- not to trade against H1).

- it was also against 1W. You mentioned in the topic that when it is according to W1 we are getting most of "cheese"

regarding 2):
I wouldn't take because it was against W1, when we play according to W1 we got most of cheese

regarding 3):

I would enter according to attached picture and leave the trade probably when red candles showed up. I would lost probably 2,3 pips.

Taking 3 would have been profitable had you waited.

Tro regarding your comment, should I stay longer in trade 3, even when red candles are doing now lower lows, see picture?

[TheRumpledOne]

NO, you not wait.

Don't you see the RED RAT Reversal? Green candle closed, red candle closed?

Use your EXIT PLAYBOOK and keep the profit rather than giving it back.