2009.09.10 DRAIN THE BANKS - LIKE A RAT

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turboeskimo
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Postby turboeskimo » Thu Aug 12, 2010 12:04 pm

Hello. Could You tell please, what are the green and red arrows on the chart above?

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TheRumpledOne
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Postby TheRumpledOne » Thu Aug 12, 2010 12:15 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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Postby TheRumpledOne » Thu Aug 12, 2010 12:24 pm

turboeskimo wrote:Hello. Could You tell please, what are the green and red arrows on the chart above?


They indicate RAT REVERSALS.

GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS.


RED RAT REVERSAL - SHORT ENTRY CRITERIA: 1) GREEN CANDLE CLOSES 2) RED CANDLE CLOSES 3) PRICE TOUCHES LOW OF PREVIOUS RED CANDLE - ENTER SHORT. STOP LOSS IS ALWAYS 10 PIPS.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby turboeskimo » Thu Aug 12, 2010 12:41 pm

Maybe I'm noob, but I didn't get it:)

"GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS.


RED RAT REVERSAL - SHORT ENTRY CRITERIA: 1) GREEN CANDLE CLOSES 2) RED CANDLE CLOSES 3) PRICE TOUCHES LOW OF PREVIOUS RED CANDLE - ENTER SHORT. STOP LOSS IS ALWAYS 10 PIPS."

this part is clear for me.


But I can't understand why red are in the bottoms of candles and pointing down while price goes up on next candle. And why green ones are at the top of candles and pointing up but price goes down after them.

Sorry if I write something wrong, I just don't want to miss a thing:)

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Postby TheRumpledOne » Thu Aug 12, 2010 12:51 pm

Image

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.

"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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Postby TheRumpledOne » Thu Aug 12, 2010 12:56 pm

turboeskimo wrote:Maybe I'm noob, but I didn't get it:)

"GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS.


RED RAT REVERSAL - SHORT ENTRY CRITERIA: 1) GREEN CANDLE CLOSES 2) RED CANDLE CLOSES 3) PRICE TOUCHES LOW OF PREVIOUS RED CANDLE - ENTER SHORT. STOP LOSS IS ALWAYS 10 PIPS."

this part is clear for me.


But I can't understand why red are in the bottoms of candles and pointing down while price goes up on next candle. And why green ones are at the top of candles and pointing up but price goes down after them.

Sorry if I write something wrong, I just don't want to miss a thing:)


Why? Because sometimes price reverses.

The distance between the high of the first green and second green candles is your potential profit.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby turboeskimo » Thu Aug 12, 2010 1:01 pm

"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.

"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."

I've read those words many times in different topics and forums. But could You please tell me just about arrows. Without copypasting. You paste arrows on chart yourself or it' an indicator? (Cause I've not seen any arrows in DTB presets) And, for example, that last red arrow at 1.27806, what that arrow for?

Sorry again:)

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Postby turboeskimo » Thu Aug 12, 2010 1:18 pm

Ok, if I get it right than:


Right?

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Postby TheRumpledOne » Thu Aug 12, 2010 2:05 pm

No, that's is not right.

Arrows appear when the trigger is tripped.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby turboeskimo » Thu Aug 12, 2010 2:32 pm

What is "trigger is stripped"? In my language (Russian) "stripped" = "Naked" or "undressed":)

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