2009.09.10 DRAIN THE BANKS - LIKE A RAT

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Postby Pro Trader » Tue Mar 09, 2010 10:30 am

scheeco I use the TRO_Opens indicator

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Postby scheeco » Tue Mar 09, 2010 11:57 am

thanks mate

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Postby TheRumpledOne » Tue Mar 09, 2010 1:18 pm

Image

OPPORTUNITY... ClLo < 20

Let's clear things up:

1) To trade like a RAT is to ALWAYS trade in ONE DIRECTION - either LONG or SHORT. Once you pick a "team", you can't switch.

2) The "within 20 pips of the daily high/low" is the BEST possible entry to get the maximum run BUT the RAT REVERSAL entry works ANYWHERE on the chart.

3) The TRAINING WHEELS only signals LONG trades ABOVE the weekly open and SHORT trades BELOW the weekly above. This bias keeps beginning traders, as well as experienced traders, out of trouble.
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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Postby TheRumpledOne » Tue Mar 09, 2010 1:59 pm

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



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Postby cwn6161 » Tue Mar 09, 2010 2:51 pm

scheeco, from your pictures it looks like you were taking trades on the wrong end of the range.

if you are a green rat, only trade when the price is within 20 pips of the daily LOW

if you are a red rat, only trade when the price is within 20 pips of the daily HIGH

from what I saw, you made a green rat trade when the price was nowhere near the low

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Postby scheeco » Tue Mar 09, 2010 5:13 pm

thanks chaps, much appreciated.
So when 20 pips from daily high I short once green candle, followed by a red candle closes.
I go short on red candles lowest point irrespective of H1 candle colour.
Will do this going forward and post charts.

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Postby Pro Trader » Tue Mar 09, 2010 5:30 pm

scheeco its always best to follow H1 candle.

TRO always says the rule of thumb is to never trade against H1.

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Postby scar » Tue Mar 09, 2010 6:55 pm

For those who follow trendline breakouts as part of their particular rat idiom, I've attached a little trendline indicator.

A supply line is based on the two most recent supply points (highs), and a demand line is based on the two most recent demand points (lows). The caveat is that a supply line always slopes down and the demand line always slopes up.

The user can choose the level for the supply/demand points. The chart shown has a setting of 5, meaning that there must be at least 5 higher lows / lower highs surrounding the point.

There is also the capability to use a new point before it is fully formed. As an example, look at the peak between the most recent #1 and #3 highs in this chart. When the 4th bar to the right of the peak bar opened, if "AllowEarlyUse" was set to true and "EarlyBars" was set to 3, the trendline would have moved to that peak. Once that new bar broke the old high, the indicator reverted to the last legitimate points.

The indicator only updates when a new bar appears, to save CPU usage. The current (new) bar is not used in the calculations.


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JS_TrendLines.mq4
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Postby vladv » Wed Mar 10, 2010 9:16 am

Thanks for sharing this,scar!

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Postby TheRumpledOne » Wed Mar 10, 2010 11:19 am

Image

OPPORTUNITY... ClLo < 20...

Let's clear things up:

1) To trade like a RAT is to ALWAYS trade in ONE DIRECTION - either LONG or SHORT. Once you pick a "team", you can't switch.

2) The "within 20 pips of the daily high/low" is the BEST possible entry to get the maximum run BUT the RAT REVERSAL entry works ANYWHERE on the chart.

3) The TRAINING WHEELS only signals LONG trades ABOVE the weekly open and SHORT trades BELOW the weekly above. This bias keeps beginning traders, as well as experienced traders, out of trouble.
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.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


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