2009.09.10 DRAIN THE BANKS - LIKE A RAT

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skateitsgreat
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Postby skateitsgreat » Wed Jun 30, 2010 9:06 pm

I tested both so now I know that if I had chosen one color and stuck to it I still would have lost.

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maestro007
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Postby maestro007 » Wed Jun 30, 2010 9:16 pm

skateitsgreat wrote:I tested both so now I know that if I had chosen one color and stuck to it I still would have lost.


Why would you try a method/system and not follow the instructions given in it? Then say afterwards it does not work?

How long did you test for, how many trades a day were you taking?

Choose a colour and stick to it. Follow the instructions that were given and practice. Post examples of your winners and losers. Let everyone see what you see.

Mae

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TheRumpledOne
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Postby TheRumpledOne » Wed Jun 30, 2010 9:46 pm

If you take all of the green rat reversals in the rat zone, sooner or later you will have a big winner.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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trueblueTEX
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What is Rat Zone?

Postby trueblueTEX » Wed Jun 30, 2010 10:05 pm

TheRumpledOne wrote:If you take all of the green rat reversals in the rat zone, sooner or later you will have a big winner.


Hey TRO,

Is "Rat Zone" defined as the "within 20 pips of daily low/high"?

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TheRumpledOne
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Postby TheRumpledOne » Wed Jun 30, 2010 10:20 pm

Yes, that's the RAT ZONE.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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cosmoe1
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Postby cosmoe1 » Wed Jun 30, 2010 11:48 pm



Here is a trade I took tonite.
Price was within 20pips of the daily low,
red bar,
green bar,
enter long at highest point of green bar, at opening of next bar.

As you can see I did not get allot of pips but a win is a win.

Now looking at the way this worked out it did turn around and if I stayed in I would have gotten allot more pips. But it is not a chance I am willing to take. As you can see to the left of the trade you never know when it will stop going against you.

cosmoe1
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Postby cosmoe1 » Thu Jul 01, 2010 12:24 am

If I May.

someone mentioned a while back about a 2-1 money management. I honestly do not agree with that. To me money management is not giving anything back to the banks. This is why i close half my posistion at +5 pips and move my stop up to break even at +5 pips. And now only trade when price is within 20 pips of the daily low. Green Rat.

When I traded all over the chart I blew up way too many accounts having been stopped out after I was in profit and not taking what the market gives you. Sure I may miss out on some runners like the one earlier tonite but it is not a GAMBLE I am willing to take. This is not gambling, this is trading as smart as I have learned from my mistakes.

someone also said something about beeing stressed out when they trade live. I was the same way, this will get better in time. you should only be trading with what you are comfortable
losing. Losses are going to happen it is just part of trading. No one wins all the time, no one has a holy grail system. The rat system if traded within 20 pips of the low for green rats, 20 pips within the high for red rats offers the best in percent wins to losses i have ever seen, and I have been trading live for just over two years.

Cosmoe1

cosmoe1
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Postby cosmoe1 » Thu Jul 01, 2010 1:00 am



Here is just a great example of what I was just talking about.
I went long, price moved up 5 pips I closed half my posistion, moved stop loss to breakeven, price moved 10 pips higher, I moved stop loss up 5 more pips. Then BAM. The banks said give me my money back and all of yours.

cosmoe1

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TheRumpledOne
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Postby TheRumpledOne » Thu Jul 01, 2010 3:40 am

ANYTHING CAN HAPPEN!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Thu Jul 01, 2010 12:29 pm

Image

1) price within 20 pips of the daily low - that is OPPORTUNITY
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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