2009.09.10 DRAIN THE BANKS - LIKE A RAT

[TheRumpledOne]

RESULT.

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."

[jlpk007]

RESULT.

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."

Thanks TRO..this method sounds easy.will try out

[scar]

Thanks for sharing this,scar!

You're welcome.

Hopefully it will be helpful...

[quark]

Avery

We don't know each other personally, however I appreciated most of your posts on TS forum.... Thank you so much for your willingness to share parts of your trading strategies. This is your teaching thread.

First of all........thank you for sharing this concept with everyone for free...some/many? people may not understand the significance of this.

Second......I have adapted many/most of your rules into my trading style and your concepts have given me an additional edge of 5-9%.

Third......I will not hijack any of your threads and will never post any of my concepts on your/kreslik's website nor share my strategies with anyone on this website or any other website, even if someone contacts me by PM.

To let you know since January 2010 I have had 194 trades with 8 losing trades....thank you.

This thread is significant and works with Avery's rules as they are.....if you really understand what Avery has posted.

Again....thank you, Avery.

quark

[TygerKrane]

Third......I will not hijack any of your threads and will never post any of my concepts on your/kreslik's website nor share my strategies with anyone on this website or any other website, even if someone contacts me by PM.

LOL

[oldmangeezer]

Could someone post a link to TRO Rat zip file.

Thanks in advance.

Never mind. I found it.

[MightyOne]

Another insignificant scalp...

price reached the highest prices on the daily chart and then showed an unwillingness to trade higher:

[Pro Trader]

DTB Short GBPJPY

W1 is down so only trade short

Price is within 20 pips of Daily High

White rectangle shows previous resistance
Blue rectangle shows price meeting 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 a few pips

[Pro Trader]

MightyOne where can I find that custom candle indicator?

[TheRumpledOne]

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.