2009.09.10 DRAIN THE BANKS - LIKE A RAT
Moderator: moderators
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15562
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3036
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
1) price within 20 pips of the daily low - that is OPPORTUNITY
?Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame (with the obvious limitations explained above)
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.? - H. Rearden
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 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.
Thank you for your support.
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15562
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3036
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
RESULTS.
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!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
-
- rank: <50 posts
- Posts: 23
- Joined: Wed Apr 01, 2009 3:46 pm
- Reputation: 0
- Location: Savannah, GA
- Gender:
Another successful couple days for a red rat. I took 3 trades on Friday to get my 2%. 4,4 and 2 pips and I finished the week +12.5%. Only took one trade this morning. Sold 1/2 at 10 pips and 1/2 at 15 for a 2.5% gain. I think I'm finally starting to "See".
[left]http://i756.photobucket.com/albums/xx202/tommydq/2010-06-21.png[/left]
[left]http://i756.photobucket.com/albums/xx202/tommydq/2010-06-21.png[/left]
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15562
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3036
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
-
- rank: <50 posts
- Posts: 23
- Joined: Wed Apr 01, 2009 3:46 pm
- Reputation: 0
- Location: Savannah, GA
- Gender:
In hindsight I see a nice entry into a 100+ pip move for the second half of my position had I given it a little more room to breathe. However, this morning at 3:10 EDT I saw price had pushed within 20 pips of the daily high in the 1AM hour and price made lower subsequent highs. I saw a green bar close, a red bar close, and saw an entry at the low of the red bar. I placed 2 orders. I saw my orders get filled and price hang around my entry level for a couple bars and then break down to my profit target of 10 pips for the first 1/2 of my position. I saw price move down to create a 20 pip profit on the second half of my position. I moved the stop to 15 pips and was stopped out for a 15 pip profit on the 2nd position. I see a 2.5% gain in my demo account today. However, my favorite thing that I'm starting to see is consistency. I don't miss seeing my old squiggly lines.
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15562
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3036
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
?Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame (with the obvious limitations explained above)
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.? - H. Rearden
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!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15562
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3036
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
-
- rank: <50 posts
- Posts: 23
- Joined: Wed Apr 01, 2009 3:46 pm
- Reputation: 0
- Location: Savannah, GA
- Gender:
Long morning today but managed to get my 2%. -10, +5, -10, -10, +20, +15 pips. The EURUSD was choppy and wicky this morning heading into 4AM EDT news. I switched to the GBPUSD which was making the same movements but in a more amplified manner for a red rat like myself.
[left]http://i756.photobucket.com/albums/xx202/tommydq/2010-06-22.png[/left]
[left]http://i756.photobucket.com/albums/xx202/tommydq/2010-06-22.png[/left]
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.