2009.09.10 DRAIN THE BANKS - LIKE A RAT
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- TheRumpledOne
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TRO
You are using your D1 ClLo to know when to be looking for your reversal then when it makes a new low and starts to move back up thats when you go to your M5 chart looking for it to break above the prior candle high. If that is correct. It then could still go lower and stop you out understood. However if that happens statisticly how many times to do the above before you should get a 20+ opportunity.
Trying to understand the nuances. Thanks
You are using your D1 ClLo to know when to be looking for your reversal then when it makes a new low and starts to move back up thats when you go to your M5 chart looking for it to break above the prior candle high. If that is correct. It then could still go lower and stop you out understood. However if that happens statisticly how many times to do the above before you should get a 20+ opportunity.
Trying to understand the nuances. Thanks
- stevegee58
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- stevegee58
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- TheRumpledOne
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watchdog wrote:TRO
You are using your D1 ClLo to know when to be looking for your reversal then when it makes a new low and starts to move back up thats when you go to your M5 chart looking for it to break above the prior candle high. If that is correct. It then could still go lower and stop you out understood. However if that happens statisticly how many times to do the above before you should get a 20+ opportunity.
Trying to understand the nuances. Thanks
I ALWAYS look at the Daily low to determine when I can get in the best rat reversal.
Trading the H1 rat reversal setup can be profitable too.
I am not looking for a 20+ opportunity. I take whatever I can.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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- TheRumpledOne
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stevegee58 wrote:Hey TRO is the low you're looking at yesterday's low or today's low?
The low in the gauge is TODAY'S LOW.
Sometimes I will use TRO_PLOT to plot both today's and yesterday's high/low.
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
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There are a bunch of different strategies going on here, so here is what I see:
trade only long
Using the confines of being within 20 pips of the daily low, follow these rules:
Enter based on red candle close, green candle close, then current candle breaks previous green candle's high.
or enter if green candle hits a price ending in 0
GBPUSD and EURJPY are two good pairs for this.
Are there any times of the day that are better than others for this?
You seem to like M5, but any time frame works, but the higher the time frame, the longer it will take for setup. However, the rewards can be greater with a longer time frame.
Now to tie it all together, this is what your RSG rat reversal indicator is based on, is that correct?
If I'm anywhere near being on the right track, I can easily say this thread has been the most informative I have read.
and always 10 pip SL, and TP whatever you can get. using the MM stopping volume indicator, I can assume if it's green, stay in the trade and if it turns neutral, that's the time to get out, is that correct?
Thanks as always
zule
trade only long
Using the confines of being within 20 pips of the daily low, follow these rules:
Enter based on red candle close, green candle close, then current candle breaks previous green candle's high.
or enter if green candle hits a price ending in 0
GBPUSD and EURJPY are two good pairs for this.
Are there any times of the day that are better than others for this?
You seem to like M5, but any time frame works, but the higher the time frame, the longer it will take for setup. However, the rewards can be greater with a longer time frame.
Now to tie it all together, this is what your RSG rat reversal indicator is based on, is that correct?
If I'm anywhere near being on the right track, I can easily say this thread has been the most informative I have read.
and always 10 pip SL, and TP whatever you can get. using the MM stopping volume indicator, I can assume if it's green, stay in the trade and if it turns neutral, that's the time to get out, is that correct?
Thanks as always
zule
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