2009.09.10 DRAIN THE BANKS - LIKE A RAT

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cosmoe1
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Postby cosmoe1 » Mon Jun 28, 2010 10:54 pm

skateitsgreat wrote:I really appreciate you taking the time to make these replies, but most of my trades didnt make it to +5 =(
I was just wondering if its okay to have a losing day every once in awhile?
Should I learn how to do this method again?


IN ORDER TO WIN AT TRADING, YOU HAVE TO BE PREPARED TO LOSE !

It just takes practice, practice practice.

Go read http://kreslik.com/forums/viewtopic.php?t=2538

Cos

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TheRumpledOne
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Postby TheRumpledOne » Tue Jun 29, 2010 3:46 am

flex wrote:someone asked if i am doing great.. no i'm not. i pretty much gave up rat trading after about 10 weeks of losses. i stopped posting charts earlier since they always looked the same anyway (like skateitsgreat's chart above, by the way). obviously i'm doing something wrong, but i don't know what. :( if i try to let trades "some room" they hit my sl. if i take profit early, those trades never make up for my losers.
i've tried to stick to zline trades for now, but without much luck either. i think, i'll post some zline attempts in lukx thread later this week.


System/method hopping is only going to result in more losses.

Chances are you are over trading.

Post a chart and show me losers. You really have to try to lose if you are a true RAT. There are 6 simple rules to follow. If you follow them, you should end the session a winner.
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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TheRumpledOne
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Postby TheRumpledOne » Tue Jun 29, 2010 3:48 am

skateitsgreat wrote:I really appreciate you taking the time to make these replies, but most of my trades didnt make it to +5 =(
I was just wondering if its okay to have a losing day every once in awhile?
Should I learn how to do this method again?


Then take +2, +3 or +4.

You can NOT learn it AGAIN.

Either you have learned it or you have not.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Tue Jun 29, 2010 3:49 am

flex wrote:for example, one of my problems was that most of my trades didn't even make it to 5 pips. when i let them run anyway and hoped they would come back, they often hit my sl. a few of those and i had to call it a day (in loss). :(


Are you absolutely positive you followed the rules?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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tfg
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Postby tfg » Tue Jun 29, 2010 9:15 am

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 cable and euroyen on M15. Any suggestions that it can help me to better identifying a true reversal of daily low? Appreciate it.

tfg

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TheRumpledOne
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Postby TheRumpledOne » Tue Jun 29, 2010 11:33 am

Image

"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 » Tue Jun 29, 2010 11:38 am

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 cable and euroyen on M15. Any suggestions that it can help me to better identifying a true reversal of daily low? Appreciate it.

tfg


Post a chart and mark your entries so I can SEE what you saw.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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flex
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Postby flex » Tue Jun 29, 2010 11:51 am

yes, i'm sure my entries were correct. i posted a couple of charts several weeks ago.
and i only "hopped" to rat trading since mo recommended this to improve my zline trading. but somehow for me it feels like catching a falling knive as well.

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TheRumpledOne
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Postby TheRumpledOne » Tue Jun 29, 2010 12:08 pm

Image

RESULTS.

"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 » Tue Jun 29, 2010 12:27 pm

if price moves in your favor 2 pips and then stops...

if you do not take 2 pips and lose 10

who is to blame?

here's what happens...

first trade...

price moves up 2 and stops

trader takes 2 pips and then price zooms up another 20 + pips

trader gets mad

second trade

price moves up 2 pips and stops

trader THINKS and decides NOT to take the 2 pips

price drops and stops trader out

so... 2 + 2 = 4 (RAT)

or

2 - 10 = -8 (YALE STUDENT)

YOU DECIDE

WHEN PRICE STOPS MOVING... DO YOU KNOW WHAT WILL HAPPEN NEXT?

the idea is to be PROFITABLE PERIOD
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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