2009.09.10 DRAIN THE BANKS - LIKE A RAT

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prohlfer
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Postby prohlfer » Sat May 08, 2010 11:45 pm

Thanks guys, I am finding some success with this, much better than before. Quick question, how do you move the indicators around on your screen?

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Humble
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Postby Humble » Sun May 09, 2010 12:48 am

Generally there will be a setting for the corners of the screen. 0 is top left.
Then there are "x" "y" co ordinates with a number like 10 or 20, which sets the distance from the corner.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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2trade
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need help avery

Postby 2trade » Sun May 09, 2010 2:00 am

i have traded the rat reversal several time but find that the re

















































i have been trying to trade the rat reversal this week but several times the red bar closes the green bar opens higher then the previous bar i get in long and then it is followed by a red bar, and it becomes a lose can some one help with this!!!!

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TygerKrane
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Postby TygerKrane » Sun May 09, 2010 6:01 am

flex wrote:i know that. i am currently afraid of one thing: with the entry rules so clearly defined and my exit play book which now defines also rules for exiting, i have created a "system" which is totally mechanical now... and i know that no mechanical system is profitable in the long run...


Yep, totally understand that fear, had the same issue with my Buy Zone trading.

I think I don't have that issue anymore, but I think in exchange, I tend to feel undisciplined in my trading.

**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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TygerKrane
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Postby TygerKrane » Mon May 10, 2010 2:11 am

TheRumpledOne wrote:Image

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

Can you SEE OPPORTUNITY?


TRO,
You totally knocked my socks off when you posted this. I'm not a beginner, but I haven't been around long enough to consider yearly wick extremes...

How often do you check a gauge like this??

This is what I'd like to do to a yearly candle extremity wick: :smt023
http://kreslik.com/forums/viewtopic.php?p=38197#38197

Image

**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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cosmoe1
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Postby cosmoe1 » Mon May 10, 2010 2:59 am

I just started trading like a rat tonite. so far 8 trades 7 winners for +5 pips each. 1 loser for -10 pips. The small profits sure add up fast. I have been using Tro's exit stratagy he explained a few pages back. Thanks allot Tro.

Cosmoe1.

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MightyOne
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Postby MightyOne » Mon May 10, 2010 6:53 am

TheRumpledOne wrote:Image

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

Can you SEE OPPORTUNITY?


:shock:

Yearly data makes me all warm and fuzzy inside.

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MightyOne
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Postby MightyOne » Mon May 10, 2010 6:56 am

cosmoe1 wrote:I just started trading like a rat tonite. so far 8 trades 7 winners for +5 pips each. 1 loser for -10 pips. The small profits sure add up fast. I have been using Tro's exit stratagy he explained a few pages back. Thanks allot Tro.

Cosmoe1.


The Rat Trade has to be the most profitable trade to date...

More than Sweet Spot, Buy Zone, Shorting 5-10p from the high, all that.

In my opinion anyways :wink:

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trueblueTEX
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Spread?

Postby trueblueTEX » Mon May 10, 2010 4:17 pm

TheRumpledOne wrote:
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.


Hey TRO,

This EXIT PLAY BOOK is excellent; but I have one question regarding Spread.

I know you don't like paying spread but since I don't have enough money to make money spreadless, yet (unless you have some broker recomendations :-) ) how should I include spread into this EXIT PLAY BOOK? Should I follow the EXIT PLAY BOOK as written and not take spread into account? or should I add spread in like this:

"at price plus +3 pips + spread move stop to BE (or even BE + spread)"?

Thanks TRO!!!

Tex

flex
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Postby flex » Mon May 10, 2010 5:37 pm

today was not a good day for me. 5 trades, 1 winner, 2 be, 2 losers.

actually the be trades where small losers as well because for some reason i lost 0.9 pips even though my sl was at be. next time i won't set it to be but to be + 0.9 pips.

Image

Image

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