2009.09.10 DRAIN THE BANKS - LIKE A RAT

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gangsta1
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Postby gangsta1 » Tue Feb 09, 2010 10:37 pm

Why use a 10 pip stop if we should exit stalling trades that do not look like bouncing as soon as possible? Is that an emergancy stop? Shouldnt one consider exiting if the price doesnt look like bouncing from the daily low at that point without allowing price to fall 10 pips?

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Humble
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Postby Humble » Tue Feb 09, 2010 11:06 pm

I thought Bredin covered this fairly well in his last post.

If you want some serious reading that answers your last question, have a search for an ebook called Phantom Of the Pits. (and thanks to PTG for the reference)
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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TheRumpledOne
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Postby TheRumpledOne » Tue Feb 09, 2010 11:14 pm

LOL.... you see the charts I post - it's not Rev 8 or 9.

I am trading Rat Reversals off the daily low. All I need to know is how far price is away from the daily low and the colors of the candles.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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TheRumpledOne
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Postby TheRumpledOne » Tue Feb 09, 2010 11:15 pm

"I believe YALE should refer to not understanding the concept of the RAT but I think it would be unfair to criticise one for learning to be familiar with price action as this is more of a skill imo. "

Yale refers to ANY and ALL trading behavior that is not RAT like.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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robotbull
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Daily low or high ???

Postby robotbull » Wed Feb 10, 2010 12:15 am

Hi TRO,

1) Do you reset your daily high/low at midnight or are you using session high/lows (like 4pm-4pm CT 24 hour high/lows) ???

2) I'm currently using TradeStation ... are they ripping me off with spreads and commissions per trade??? I have to make up quite a few pips (spread + commish) before I'm breakeven when trading the RAT.

Thanks!

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TheRumpledOne
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Postby TheRumpledOne » Wed Feb 10, 2010 1:23 am

1) I use the D1 candle on whatever MT4 broker I am connected to.

2) Why are you giving your money to a fixed spread bandit?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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daveM
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Postby daveM » Wed Feb 10, 2010 4:24 am

I put the template on several pairs tonight....... looking at them altogtether, I am finally starting to see what OPPORTUNITY means regarding all of them

I had been in the habit of trading one pair only

This is a pretty exciting approach.!

Kudos..

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Postby Pro Trader » Wed Feb 10, 2010 7:17 am

2% this morning trading DTB from 6:00 to 7:00am GMT. It can be done.

Took a while and I was only taking a few pips at a time as Im still fairly new to DTB. 4 trades in total:

3 pips
3 pips
3 pips
2 pips

I will note that I could have made more on each of these trades if I let them run. I could have made the 2% on the first trade alone infact. Im sure over time I'll get better at reading PA and hang on a little but 2% is 2% whether you get it on one trade or 4.

I found its impossible to get in on some setups because price can move so fast. The spread on say EJ on occassion is around 2.5 pips. You get a red candle then a green, mark the high of the green candle but the ask line never comes back down to that price and goes without you. I missed quite a few like that hence why I was trading for and hour. But thats trading I guess.

No screen shots Im afraid.

Happy trading to all.

Thanks TRO

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Postby gangsta1 » Wed Feb 10, 2010 9:41 am

Can anyone tell me how to get the trigger to appear on the rat candle setup so I know exactly what price to place my limit order? The display trigger option just shows the 20 pip from high/low trigger.

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Postby Pro Trader » Wed Feb 10, 2010 10:57 am

Gangsta I think you are refering to the TRO2009_RAT_Plot indicator. That is a 2009 donational indicator. You'll need to contact TRO for that if you havent already given a donation.

I must say it is useful.

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