2009.09.10 DRAIN THE BANKS - LIKE A RAT

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tommydq
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Postby tommydq » Mon Jul 12, 2010 8:41 am

forexjpn, I try to take profits when price stalls. Here's a 5 min and 30 second chart of the same trade this morning. I took 5.5 pips on the first half of the position after price paused and moved the stop on the second half to break even + 1. I closed the second half at 13 pips the next time price stalled.



[left]http://i756.photobucket.com/albums/xx202/tommydq/Forex%20Trading%20-%20Two%20Percent%20Per%20Day/2010-07-12-eurusd.png[/left]

[left]http://i756.photobucket.com/albums/xx202/tommydq/Forex%20Trading%20-%20Two%20Percent%20Per%20Day/2010-07-12-eurusd-5min.png[/left]
Last edited by tommydq on Mon Jul 12, 2010 11:34 am, edited 1 time in total.

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cosmoe1
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Postby cosmoe1 » Mon Jul 12, 2010 8:56 am

this strategy works well for me,

http://kreslik.com/forums/viewtopic.php ... &start=340

Cosmoe1

forexjpn
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Postby forexjpn » Mon Jul 12, 2010 3:27 pm

Thanks for the replies tommydq and cosmoe1........I'll give both a shot and see which works better for me.....

Another question...... at/near market open do we wait for 'significant' moves up or down before we consider them daily highs/lows or is the 'actual' daily high/low valid to trade off of regardless of only minor movement from the open........(hope my explanation is clear enough)

tommydq
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Postby tommydq » Mon Jul 12, 2010 3:50 pm

I'm a red rat and I only trade for a couple hours at the London open. The daily range of most pairs at that time of day is usually still small, if it is I will take red rat trades in the green rat zone. I tend to do better early in the London green rat zone than I do in the red rat zone. If I take trades the NY session I tend to have better results taking trades in the red rat zone (within 20 pips of high). Today's trade I entered short about 14 pips above the low of the day and was happy with an exit as price retested the daily low.

forexjpn wrote:Thanks for the replies tommydq and cosmoe1........I'll give both a shot and see which works better for me.....

Another question...... at/near market open do we wait for 'significant' moves up or down before we consider them daily highs/lows or is the 'actual' daily high/low valid to trade off of regardless of only minor movement from the open........(hope my explanation is clear enough)

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trueblueTEX
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Postby trueblueTEX » Mon Jul 12, 2010 3:58 pm

tommydq wrote:I'm a red rat and I only trade for a couple hours at the London open. The daily range of most pairs at that time of day is usually still small, if it is I will take red rat trades in the green rat zone. I tend to do better early in the London green rat zone than I do in the red rat zone. If I take trades the NY session I tend to have better results taking trades in the red rat zone (within 20 pips of high). Today's trade I entered short about 14 pips above the low of the day and was happy with an exit as price retested the daily low.

forexjpn wrote:Thanks for the replies tommydq and cosmoe1........I'll give both a shot and see which works better for me.....

Another question...... at/near market open do we wait for 'significant' moves up or down before we consider them daily highs/lows or is the 'actual' daily high/low valid to trade off of regardless of only minor movement from the open........(hope my explanation is clear enough)


Hey Tommy,

what pairs do you trade?

Do you find your assessment of red-rat-trading-in-the-green-rat-zone at London open to be particular to certain pairs and not others?

Thanks
Tex

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tommydq
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Postby tommydq » Mon Jul 12, 2010 4:36 pm

I stick with EURUSD GPBUSD USDCAD USDCHF. They provide ample opportunity.

trueblueTEX wrote:
tommydq wrote:I'm a red rat and I only trade for a couple hours at the London open. The daily range of most pairs at that time of day is usually still small, if it is I will take red rat trades in the green rat zone. I tend to do better early in the London green rat zone than I do in the red rat zone. If I take trades the NY session I tend to have better results taking trades in the red rat zone (within 20 pips of high). Today's trade I entered short about 14 pips above the low of the day and was happy with an exit as price retested the daily low.

forexjpn wrote:Thanks for the replies tommydq and cosmoe1........I'll give both a shot and see which works better for me.....

Another question...... at/near market open do we wait for 'significant' moves up or down before we consider them daily highs/lows or is the 'actual' daily high/low valid to trade off of regardless of only minor movement from the open........(hope my explanation is clear enough)


Hey Tommy,

what pairs do you trade?

Do you find your assessment of red-rat-trading-in-the-green-rat-zone at London open to be particular to certain pairs and not others?

Thanks
Tex

jbobus21
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Postby jbobus21 » Mon Jul 12, 2010 9:55 pm

Maybe someone has already answered this so forgive me if it was. What is the "daily" high and low based off of? During the week forex trades 24 hours so when has the next "day" started? I know from reading about DIBS trades that PC used GMT +6 to signal his open price.

Does anyone know what open time/price the Rat Zone daily highs and lows are based off of?

tommydq
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Postby tommydq » Tue Jul 13, 2010 1:35 pm

Just one red rat trade today. 10 quick pips.

[left]http://i756.photobucket.com/albums/xx202/tommydq/Forex%20Trading%20-%20Two%20Percent%20Per%20Day/2010-07-13.png[/left]

sillykiddo
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Postby sillykiddo » Tue Jul 13, 2010 8:30 pm

Hii
Since this thread goes too big can any one point me to the thread where the rat method is explained and what indicator needs to use?

thanks heaps

cosmoe1
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Postby cosmoe1 » Tue Jul 13, 2010 9:03 pm

sillykiddo wrote:Hii
Since this thread goes too big can any one point me to the thread where the rat method is explained and what indicator needs to use?

thanks heaps


these are the rules for a green rat.
no indicators needed.

http://kreslik.com/forums/viewtopic.php ... start=1770

this one explains how and when to take profit.
http://kreslik.com/forums/viewtopic.php ... &start=340

The teacher is done giving answers. show me you know how to learn. start reading.


Cosmoe1

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