2009.09.10 DRAIN THE BANKS - LIKE A RAT

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roger_over
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Postby roger_over » Thu Apr 01, 2010 4:57 pm

Hi Avery , How do you get those runners lol?, Man I try to stay away from UC pair as I seem to always get trapped..(It's just my inexperience thats all) I stick with GU and UCAD, wow nice trade , quick bunch of pips heh?
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Postby bredin » Thu Apr 01, 2010 10:11 pm

roger_over,

As TRO said to me about a week ago....

You get Lucky

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Postby Pro Trader » Fri Apr 02, 2010 5:29 am

UJ Long

Simple green rat trade within 20 pips of the daily low and with H1

Red candle close
Green candle close (above H1)
Long at high of green candle

I entered long at green candle high.

Rat_plot doesnt trigger for dojis but I set the limit at the level anyway.

Took 2 pips

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Postby Pro Trader » Fri Apr 02, 2010 5:38 am

EU Long

Simple green rat trade within 20 pips of the daily low and with H1

Red candle close
Green candle close (above H1)
Long at high of green candle

I took 8 pips.

Done for the day in less than half an hour

Remember that statistically after 3 or more same colour candles we could be expecting a reversal. TRO. (I don't think thats an exact quote btw)

EU H1 chart had 5 red candles in a row so when the green DTB formed at the start of the next hour I had the confidence to hold the trade for more pips.

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Brew84
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Postby Brew84 » Fri Apr 02, 2010 11:35 am

I must be doing something wrong!

keep taking green rat trades which are within the 20 pips daily low and also green on the hourly chart but its very rare that it goes up enough to match the bidask. Is this just a lack of practice at choosing the right type of trade or am I doing something fundamentally wrong?
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TheRumpledOne
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Postby TheRumpledOne » Fri Apr 02, 2010 1:06 pm

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

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Postby TheRumpledOne » Fri Apr 02, 2010 1:12 pm

Brew84 wrote:I must be doing something wrong!

keep taking green rat trades which are within the 20 pips daily low and also green on the hourly chart but its very rare that it goes up enough to match the bidask. Is this just a lack of practice at choosing the right type of trade or am I doing something fundamentally wrong?



If the green line is your buy, you should have bought where the red line is... I see a green rat reversal arrow there.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Fri Apr 02, 2010 1:20 pm

roger_over wrote:Hi Avery , How do you get those runners lol?, Man I try to stay away from UC pair as I seem to always get trapped..(It's just my inexperience thats all) I stick with GU and UCAD, wow nice trade , quick bunch of pips heh?


Got real lucky!

Price crossed below the 00, 75 and 50. Either is going up or down, so when it crossed back up I went long. Later it ran up in my favor. Bummer is I missed the 00 short on the way back down.
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Brew84
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Postby Brew84 » Fri Apr 02, 2010 2:05 pm

Hi Avery,

So should I be buying when the bid/ask (red line) hits the high of the previous green candle (1.52508)?
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bredin
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Postby bredin » Sat Apr 03, 2010 1:49 am

Brew, the chart calculated off the Bid price.

If I am making market entries, I will hit sell (I am a RED RAT) when the Bid hits the line. If I were a GREEN rat I would hit buy at the line. Either way I will have to pay the spread with this order type.

G.
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