2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Wed May 05, 2010 8:07 pm

Image

Look at where price is YEAR TO DATE (YTD).

Can you SEE OPPORTUNITY?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby morfisher » Wed May 05, 2010 8:12 pm

Hi Tro
Could you send me the donational version for 'buy zone for dummies', I made my first donation a couple of weeks ago. Thanks, am all over with this at the moment, mainly because of the work treadmill, am off over the next couple of weeks so will have plenty of time to try this out. I am trying to make regular profits before I go live.
By the way, the tro tunnel, how does this work, and what's the MA960 about?
Regards.

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TheRumpledOne
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Postby TheRumpledOne » Wed May 05, 2010 8:15 pm

flex wrote:this is the one loser i had today
Image

again i could have gotten out with a tiny profit... but how would i ever be able to let profits run if i did this?


What is

5 * 2?

4 * 3?

If you make 4 - 5 trades and net 2 - 3 pips, that's 10 - 12 pips a day.

If you risk 2%, you increase your account by 2% or more.

You must first learn to capture the small pips BEFORE you go after the larger pips.

Sooner or later you get real lucky and catch a rocket for 10 or more pips.

You need an EXIT PLAY BOOK.

What do you do at:

+ 1 pip - wait

+ 2 pips - wait

+ 3 pips - move stop to break even

+ 4 pips - wait

+ 5pips - move stop to entry + 2

etc.... up to 20 pips or more.

Then STICK TO THE EXIT PLAY BOOK. Your job is to execute. The market will take care of the rest.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Wed May 05, 2010 10:36 pm

Limit orders.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby forexbob » Thu May 06, 2010 8:47 am

prohlfer wrote:So, if you are a green rat, you wait for the second green candle to make a new high, then set the limit order to the high of the previous green candle?


for a green rat, after red candle ; green candle
at the next candle i put in a buystop with as price high of previous green candle
and watch if it get filled.
if not cancel order.
(which of course does not work if price goes immediate higher)

study all the diff types of orders at mbtrading

http://www.mbtrading.com/forexOrderTypes.aspx
The highest Forex rebates: http://www.cashbackforex.info

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TheRumpledOne
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Postby TheRumpledOne » Thu May 06, 2010 1:20 pm

prohlfer wrote:So, if you are a green rat, you wait for the second green candle to make a new high, then set the limit order to the high of the previous green candle?


if you are a green rat, you wait for the second green candle to make a new high,

NO!!!



GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Thu May 06, 2010 1:21 pm

Image

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



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TheRumpledOne
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Postby TheRumpledOne » Thu May 06, 2010 1:35 pm

Image

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



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Postby flex » Thu May 06, 2010 5:43 pm

today i even caught one of the bigger runs on the eu thanks to my new "exit play book". thanks, tro. ;-)
but i also had two losers. one was strange, i was forced to use a market order, the order filled totally off quote, but in my favor and since the stoploss was correct, i only lost 6.3 pips.
to avoid all the losers i should have traded with w1 color, i guess... but that would have meant no trading at all this week!

i'll post the screenshots later.

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TygerKrane
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Postby TygerKrane » Thu May 06, 2010 5:55 pm

flex,
Trading with W1 color is no guarantee of eliminating all your losers. It might make the odds play more in your favor, but no method is 100% perfect.

Once you place your order...[highlight=yellow]NO ONE KNOWS WHAT WILL HAPPEN NEXT[/highlight]

Remember the rat in the T-shaped maze...and you don't need 100% accuracy to be profitable in forex.

-Krane

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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