2009.09.10 DRAIN THE BANKS - LIKE A RAT

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tfg
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Postby tfg » Fri Jun 25, 2010 1:03 pm

Hi, tommdq, thanks for responding and it is great to compare notes. My experience is very similar to yours although the direction is opposite because I am a M15 green rat.

I made most of profit during an up day in London morning from green rat trades NOT within the 20 pips of daily low and loss before London noon when my pairs (gbpusd, eurjpy) are mostly range bound (which I leanrt).

I made most profit within 3-5 mins as I still have a tendency to close winners early due to fear (still working on it!). This might be the reason that sometimes I made my 2% in one trade but most of the them need 2 to 3 trades.

Thanks for suggesting USDCAD/USDCHF. My challenges (doesn't mean I rule them out completely) with them is that they have a small range although the direction is right for my green rat during a down day for cable and euroyen/eurodollar.


Why do you choose M5 instead of M15?
tommydq wrote:I'm a red rat and I've had similar problems trading the London session on up days. I've made most of my pips in the green rat zone on down days. The problem as I see it is during the London session is the length daily candle is still being built. Normally at the London open only 1/4 to 1/3 of the daily range has been traversed and often the London session is creating a down move or up move to create the daily range. On up days I've done best taking more trades with 3-5 pips of profit / trade instead of trying to get my 2% in a single trade. But I also get stopped out at 10 pips more often on those days. You may also want to look at USDCAD / USDCHF on days like today. They'll generally be going in the opposite direction of the GBP and EUR pairs.

tfg wrote:Hi, Avery,

I 've been a green rat doing ok outside the 20 pips daily high/low. However, when I tried green rat trade within the 20 pips daily low, the price kept breaking to a new low and killed the green rat, like catching a falling knife. Clearly, I seem to miss something quite key here but don't know what...?

I trade on M15. Any suggestions that it can help me to better identifying a reversal of daily low? Appreciate it.

tfg

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TheRumpledOne
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Postby TheRumpledOne » Fri Jun 25, 2010 2:53 pm

Image

RESULTS.
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.

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Makamilman
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Ninjatrader

Postby Makamilman » Fri Jun 25, 2010 8:38 pm

TRO,

Do you ever do any indicators for Ninjatrader or what do you think of that platform?

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TygerKrane
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Re: Placing/Adjusting Orders

Postby TygerKrane » Sat Jun 26, 2010 1:47 pm

Makamilman wrote:I used to trade futures on TS. I wish I new the DTB system then. I used the Matrix Window to enter, edit, and delete orders. It was the greatest tool. Single click to enter and adjust orders. You could easily move your stop by clicking and dragging up the numbers.
Using MT4 seems awkward having to right click on the screen then modify order then press OK and so on. Manually enter order numbers takes too long.
There has to be a better way. To be the quick rat on MT4, I seem to have to adjust my stop in a hurry to gather pips or be eaten. I?m having a problem with that quick adjustment(s).
Is there a similar tool to TS Matrix to enter, adjust orders on MT4 or what is the fastest way?
If there isn't anything but their current order system, it would be great if someone could code such a tool.


Perhaps this will help, please let me know what you think.
I don't trade through MT4, but came up on this and it looked very useful, so I saved the link.
It is free to get, you just need a Yahoo User ID to access the folder where the files are.

MetaTrader4 Visual Trader with Lot Splitter
http://www.youtube.com/watch?v=weXR8Poqya4

~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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Makamilman
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Postby Makamilman » Sat Jun 26, 2010 3:00 pm

TygerKrane,

Thanks, I appreciate your help. I watched the youtube video and that may help indeed. I'll load the EA and try it.

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TheRumpledOne
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Re: Ninjatrader

Postby TheRumpledOne » Sun Jun 27, 2010 4:42 pm

Makamilman wrote:TRO,

Do you ever do any indicators for Ninjatrader or what do you think of that platform?


No.

I don't use Ninja, so I don't have any thoughts about it.
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.

tfg
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Postby tfg » Mon Jun 28, 2010 10:13 am

zapzinig,

Do you have any statistics or analysis to support your statement "Weekly extremes have much more potential for rat reversals. "?

tfg


zapzinig wrote:Weekly extremes have much more potential for rat reversals.

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TheRumpledOne
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Postby TheRumpledOne » Mon Jun 28, 2010 11:09 am

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



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TheRumpledOne
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Postby TheRumpledOne » Mon Jun 28, 2010 11:35 am

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



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zapzinig
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Postby zapzinig » Mon Jun 28, 2010 12:52 pm

tfg wrote:zapzinig,

Do you have any statistics or analysis to support your statement "Weekly extremes have much more potential for rat reversals. "?

tfg


zapzinig wrote:Weekly extremes have much more potential for rat reversals.

Image
The greater potential comes from the size of the weekly range. Enter at a weekly extreme with the intent to ride the weekly+ range.

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