2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Tue Feb 23, 2010 2:13 pm

Image

OPPORTUNITY...
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Tue Feb 23, 2010 2:51 pm

Image

RESULTS.

1) price within 20 pips of the 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.

"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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PTG
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Postby PTG » Tue Feb 23, 2010 7:50 pm

TheRumpledOne wrote:Image

RESULTS.



You copied the wrong picture: RESULTS = OPPORTUNITY :shock:
This is my new signature: "new signature".

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Postby Brookmyre » Wed Feb 24, 2010 1:03 pm

Tro

I just want to make sure I have this clear in my head. Please correct me if im wrong or inaccurate.

As this trade is a reversal from the daily extreme the trade will be against the daily candle colour, but should be with the weekly colour and ideally with the hourly at the entry....?

It can be against the weekly candle colour but it should be 100-200 pips away before considering the trade

edit: apologies, I think I should have posted this in DTB9
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

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TheRumpledOne
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Postby TheRumpledOne » Wed Feb 24, 2010 2:01 pm

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OPPORTUNITY...
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Wed Feb 24, 2010 2:35 pm

Image

The first 2 green rat reversals were losing entries.

Do you see a reason not to enter those trades?

Hints: There are at least 2 reasons. Use your eyes to see - do not think about it.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Wed Feb 24, 2010 2:54 pm

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RESULTS.

Reversals come in one of two flavors, "V" shaped or "U" shaped. This was a "U" shaped.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby dchappy » Wed Feb 24, 2010 3:32 pm

TheRumpledOne wrote:Image

The first 2 green rat reversals were losing entries.

Do you see a reason not to enter those trades?

Hints: There are at least 2 reasons. Use your eyes to see - do not think about it.
Last edited by dchappy on Wed Feb 24, 2010 7:53 pm, edited 1 time in total.

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Postby stratigf » Wed Feb 24, 2010 5:55 pm

TheRumpledOne wrote:Image

The first 2 green rat reversals were losing entries.

Do you see a reason not to enter those trades?

Hints: There are at least 2 reasons. Use your eyes to see - do not think about it.


The signal bars on both the losing trades were inside the previous bar.
As my trading gets better, my golf game gets worse.

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Postby frang0nve » Wed Feb 24, 2010 8:53 pm

TheRumpledOne wrote:Image

The first 2 green rat reversals were losing entries.

Do you see a reason not to enter those trades?

Hints: There are at least 2 reasons. Use your eyes to see - do not think about it.


The weekly candle is red. But this invalidates all green rat reversal trades (not only the first two) if I'm not wrong.

The first 2 green rat reversals were inside a red hourly candle.



Cheers


Francisco

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