2009.09.10 DRAIN THE BANKS - LIKE A RAT

[TheRumpledOne]

It is a 2009 donational.

[TheRumpledOne]

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.

7) If the rules do not mention it, then it is of no concern.

[TheRumpledOne]

RESULTS.


"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

[bgbearnavy]

TRO,

I see so many reversal signals...... How does one filter out the best ones to stop the whip-saws?

Would trendlines help?

Thanks!

[trueblueTEX]

Three quick GR trades on GU for total of 13.5 pips.

[TheRumpledOne]

TRO,

I see so many reversal signals...... How does one filter out the best ones to stop the whip-saws?

Would trendlines help?

Thanks!

No filtering. You do not know what will happen next. You do not know, in advance, which trade will be the big winner. Learn to grab your pips quick.

Trendlines are for YALE STUDENTS.

[TygerKrane]

No filtering. You do not know what will happen next. You do not know, in advance, which trade will be the big winner. Learn to grab your pips quick.

Trendlines are for YALE STUDENTS.

Well, trading with H1 color might certainly help though, at least for the beginner, don'tcha think?

[nkhawaja]

I think i need some filters too. I see so many 2 pips win but one loss of 10pips wipes it out. I am not considering H1 candle. Sometimes i try to go with H1 and D1, but the combination is very difficult to catch. Started off with $500, went till $550 but then on a loose streak. and came back to $260.

Initially I wasn't paying attention to Stop loss and because of that fact I had some big losses compared to these small pips gains. Need to reconsider my trading.

[trueblueTEX]

5) STOP LOSS IS 10 PIPS

[bredin]

I think i need some filters too. I see so many 2 pips win but one loss of 10pips wipes it out. I am not considering H1 candle. Sometimes i try to go with H1 and D1, but the combination is very difficult to catch. Started off with $500, went till $550 but then on a loose streak. and came back to $260.

Initially I wasn't paying attention to Stop loss and because of that fact I had some big losses compared to these small pips gains. Need to reconsider my trading.

The extreme of the day is exactly that. sooner or later you must get a BIG run and ride the candle.

At the risk of going to yale, watch for the extreme to be set at or near supply/demand (S/R) and get ready to catch a bigger run.

G.