2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Mon Mar 15, 2010 1:04 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!

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Postby pp2 » Mon Mar 15, 2010 2:47 pm

Pro Trader wrote:EU Long

W1 is up so only trade long

Price is within 20 pips of Daily Low

White rectangle shows previous support
Blue rectangle shows price breaking that support
Red candle close
Green candle close (above H1)
Long at high of green candle

Entry price is shown using TRO's Rat PLot indicator

Image


Your recent charts are great Pro Trader.

Can I ask what you mean by 'Above/Below H1' in your musings?

Also, how many opportunities/pips you are getting using this method on a daily basis?

Thanks PP

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Postby Pro Trader » Mon Mar 15, 2010 7:40 pm

pp2 wrote:
Pro Trader wrote:EU Long

W1 is up so only trade long

Price is within 20 pips of Daily Low

White rectangle shows previous support
Blue rectangle shows price breaking that support
Red candle close
Green candle close (above H1)
Long at high of green candle

Entry price is shown using TRO's Rat PLot indicator

Image


Your recent charts are great Pro Trader.

Can I ask what you mean by 'Above/Below H1' in your musings?

Also, how many opportunities/pips you are getting using this method on a daily basis?

Thanks PP


pp2 TRO says the rule of thumb is to never trade against the H1 candle so I make sure that I always trade with H1 and also W1.

TRO_Opens indicator shows the H1 and W1 opening price, so for longs I make sure the DTB setup forms above both of those lines and for shorts I make sure the setup forms below both of the lines.

You don't need the TRO_Opens indicator though. The candle colour one in the top right shows you whether price is above or below H1 and W1. Still I like to see the lines aswell.

As for opportunities and pips it varies with me at the moment. This is only because my trading time is limited due to other commitments i.e. work/study etc. I usually get a few opportunities daily and I take whatever pips I can on each trade

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Postby roger_over » Mon Mar 15, 2010 11:24 pm

Hi Pro , Do you find that you have more winning trades when you do trade with the W1 and H1 being the correct colour? Enjoy your posts
Pro Trader wrote:
pp2 wrote:
Pro Trader wrote:EU Long

W1 is up so only trade long

Price is within 20 pips of Daily Low

White rectangle shows previous support
Blue rectangle shows price breaking that support
Red candle close
Green candle close (above H1)
Long at high of green candle

Entry price is shown using TRO's Rat PLot indicator

Image


Your recent charts are great Pro Trader.

Can I ask what you mean by 'Above/Below H1' in your musings?

Also, how many opportunities/pips you are getting using this method on a daily basis?

Thanks PP


pp2 TRO says the rule of thumb is to never trade against the H1 candle so I make sure that I always trade with H1 and also W1.

TRO_Opens indicator shows the H1 and W1 opening price, so for longs I make sure the DTB setup forms above both of those lines and for shorts I make sure the setup forms below both of the lines.

You don't need the TRO_Opens indicator though. The candle colour one in the top right shows you whether price is above or below H1 and W1. Still I like to see the lines aswell.

As for opportunities and pips it varies with me at the moment. This is only because my trading time is limited due to other commitments i.e. work/study etc. I usually get a few opportunities daily and I take whatever pips I can on each trade
Genius is more often found in a cracked pot than in a whole one.
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Postby brendan1982 » Tue Mar 16, 2010 1:12 am

Brookmyre wrote:Hey Brendan

Its calculated from the open of the candle. So price could be lower than it was, but still up from the open of the current candle, making it green...if that makes sense... :)


Awesome, thanks Brookmyre... now I can quickly check and see if there are any potential trades coming up that meet the bias criteria without having to be stuck on the cpu all night!


How many trades are you guys getting a day? It seems like there are only few possibilities each day. Are you guys having any luck combining the buyzone with the Rat??

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TRO

Postby monarch » Tue Mar 16, 2010 1:43 am

TheRumpledOne wrote: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.


I understand just about everything you post on being a RAT trader, but the point of only trading one direction.
I would think anyone who can spot the reversal of a rat, top or bottom could pick it off at any given time???

Cheers from Yale.

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Postby bredin » Tue Mar 16, 2010 3:10 am

Decide. verb. To murder ones options.

G.
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Postby Pro Trader » Tue Mar 16, 2010 6:49 am

roger_over wrote:Hi Pro , Do you find that you have more winning trades when you do trade with the W1 and H1 being the correct colour? Enjoy your posts
Pro Trader wrote:
pp2 wrote:
Pro Trader wrote:EU Long

W1 is up so only trade long

Price is within 20 pips of Daily Low

White rectangle shows previous support
Blue rectangle shows price breaking that support
Red candle close
Green candle close (above H1)
Long at high of green candle

Entry price is shown using TRO's Rat PLot indicator

Image


Your recent charts are great Pro Trader.

Can I ask what you mean by 'Above/Below H1' in your musings?

Also, how many opportunities/pips you are getting using this method on a daily basis?

Thanks PP


pp2 TRO says the rule of thumb is to never trade against the H1 candle so I make sure that I always trade with H1 and also W1.

TRO_Opens indicator shows the H1 and W1 opening price, so for longs I make sure the DTB setup forms above both of those lines and for shorts I make sure the setup forms below both of the lines.

You don't need the TRO_Opens indicator though. The candle colour one in the top right shows you whether price is above or below H1 and W1. Still I like to see the lines aswell.

As for opportunities and pips it varies with me at the moment. This is only because my trading time is limited due to other commitments i.e. work/study etc. I usually get a few opportunities daily and I take whatever pips I can on each trade



Yes definately. When I look at the times I have lost in the past it has mostly been because of trading against the rules like H1 so now I wait for both to align.

I didn't understand how TRO took trades against H1 and W1 which win so often and when I tried it didn't work. Recently though I've been looking at higher tf's and when there's say a long setup on a 5m against H1 and W1 its sometimes at a support level on the H1 chart and the same for shorts. When a setup on a 5m occurs which is against H1 and W1 it is sometimes at a resistance level on the H1 chart or higher. I believe this is why TRO sometimes takes trades which are against H1 and W1, because there's confirmation on higher tf. If you only look at the 5m then you won't see them.

TRO please let me know if I'm on the right lines

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Postby Pro Trader » Tue Mar 16, 2010 8:28 am

Pro Trader wrote:
roger_over wrote:Hi Pro , Do you find that you have more winning trades when you do trade with the W1 and H1 being the correct colour? Enjoy your posts
Pro Trader wrote:
pp2 wrote:
Pro Trader wrote:EU Long

W1 is up so only trade long

Price is within 20 pips of Daily Low

White rectangle shows previous support
Blue rectangle shows price breaking that support
Red candle close
Green candle close (above H1)
Long at high of green candle

Entry price is shown using TRO's Rat PLot indicator

Image


Your recent charts are great Pro Trader.

Can I ask what you mean by 'Above/Below H1' in your musings?

Also, how many opportunities/pips you are getting using this method on a daily basis?

Thanks PP


pp2 TRO says the rule of thumb is to never trade against the H1 candle so I make sure that I always trade with H1 and also W1.

TRO_Opens indicator shows the H1 and W1 opening price, so for longs I make sure the DTB setup forms above both of those lines and for shorts I make sure the setup forms below both of the lines.

You don't need the TRO_Opens indicator though. The candle colour one in the top right shows you whether price is above or below H1 and W1. Still I like to see the lines aswell.

As for opportunities and pips it varies with me at the moment. This is only because my trading time is limited due to other commitments i.e. work/study etc. I usually get a few opportunities daily and I take whatever pips I can on each trade



Yes definately. When I look at the times I have lost in the past it has mostly been because of trading against the rules like H1 so now I wait for both to align.

I didn't understand how TRO took trades against H1 and W1 which win so often and when I tried it didn't work. Recently though I've been looking at higher tf's and when there's say a long setup on a 5m against H1 and W1 its sometimes at a support level on the H1 chart and the same for shorts. When a setup on a 5m occurs which is against H1 and W1 it is sometimes at a resistance level on the H1 chart or higher. I believe this is why TRO sometimes takes trades which are against H1 and W1, because there's confirmation on higher tf. If you only look at the 5m then you won't see them.

TRO please let me know if I'm on the right lines


Further to my previous post, here's a trade I took this morning.

GU dropped a good 80 pips then reached a support level which I believe is a pivot point. I had an indicator on the H1 chart to show this. I could have had it on the 5m but with my other indis it looked to cluttered.

Even though it was against W1 and H1 the bounce off the pivot point was confirmation that it wasn't going lower. I took the long. The rat plot indi didn't show the price but I saw the level which I've indicated with a yellow line.

I actually took the intial short for the drop as it was moving off a resistance level as you can see from the H1 chart below but for some reason I clicked the wrong button and exited too early with only a few pips.

The red and blue lines are s/r levels I marked before I put the pivot indi on. First time I really drew s/r levels so I know it looks a bit messy.

Starting to see things more clearly now I feel.

Trading simply off a 5m with the rules in my previous posts (i.e. with H1 and W1 and at previous s/r levels) is profitable.

You can trade against H1 and W1 profitably if you have confirmation either from higher tf's of pivots etc.

TRO I know I mentioned trading in both directions (like a Yalie) but aside from that please let me know if Im on the right track

Image

Image

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TheRumpledOne
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Postby TheRumpledOne » Tue Mar 16, 2010 3:37 pm

Pro Trader wrote:
TRO please let me know if I'm on the right lines


No. If you take the rat triggers in the rat zone, you will win more than lose.
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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