2009.09.10 DRAIN THE BANKS - LIKE A RAT

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brendan1982
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Postby brendan1982 » Tue Mar 09, 2010 4:15 am

Hi Guys,

Curious if any of you guys trade the asian and australian markets and how the rat method works for you during that time? Its the only time I can trade due to work and so far volume seems a bit light for scalping.

opinions?


thanks,

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Pro Trader
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Postby Pro Trader » Tue Mar 09, 2010 6:38 am

DTB Short EU

W1 is down so only trade short

White rectangle shows previous support
Blue rectangle shows price breaking that support

Green candle close
Red candle close (below H1)
Short at low of red candle

Entry price is shown using TRO's Rat PLot indicator

I just took 2 pips on this trade


Image

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Postby Pro Trader » Tue Mar 09, 2010 6:44 am

Thanks to all who helped me figure out how to post these images btw

Pro Trader
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Postby Pro Trader » Tue Mar 09, 2010 7:02 am

DTB Short UJ

W1 is down so only trade short

White rectangle shows previous support
Blue rectangle shows price breaking that support

Green candle close
Red candle close (below H1)
Short at low of red candle

Entry price was at yellow line 89.99
SL is shown at horizontal red line

Held this trade for a good 40 mins before I got my profit. Could have stayed in for more than I did too. Oh well

Image

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Postby Pro Trader » Tue Mar 09, 2010 7:09 am

In the last post I said price broke the previous support:

1) It didnt break it, but it met it
2) Its not support its resistance and thats the same for my previous post.

Sorry about that, I've been up since 5am

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Postby Pro Trader » Tue Mar 09, 2010 7:27 am

DTB Short EJ

W1 is down so only trade short

White rectangle shows previous resistance
Blue rectangle shows price breaking that resistance

Green candle close
Red candle close (below H1)
Short at low of red candle

Entry price is shown using TRO's Rat PLot indicator

Took 3 pips

Image

scheeco
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Postby scheeco » Tue Mar 09, 2010 8:51 am

TRO - I know I know - I am too much a Yale student. But I will from now only go short. Perhaps become a drop out from Yale!

cwn6161 - I thought I was doing rat trades.I dont think I did rat reversals or maybe I have been doing only rat reversals- now I am confused!

scheeco
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Postby scheeco » Tue Mar 09, 2010 8:53 am

Pro Trader - how do you plot the D1 and H1 prices on your chart?

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MightyOne
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Postby MightyOne » Tue Mar 09, 2010 9:02 am

Just practicing my scalping.

I was waiting and waiting for that low extreme to take profit and all the while voices in my head were telling me to exit :lol:

I don't trade because I am scared, give me the 8 pips you retraced on me dmmit!

Of course it went lower, but oh friggen well...

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MightyOne
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Postby MightyOne » Tue Mar 09, 2010 9:07 am

:oops: :oops: :oops:

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