2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Wed Aug 18, 2010 1:08 pm

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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.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Wed Aug 18, 2010 2:59 pm

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MAXIMUM RISK = 2% * ACCOUNT BALANCE.

STOP LOSS = 10 PIPS. (INCLUDING SPREAD)

POSITION SIZE = RISK / STOP LOSS.


"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 MightyOne » Thu Aug 19, 2010 5:01 am

nkhawaja wrote:I am on M1 or M5, mostly M5 and trying to be within 20pips. I see the difference between your method and TRO is the stop loss.

so the screen shot is of H4 time zone, is it mostly what you trade on. +5/7 pips on H4 isnt it very low?


When trading the Rat on a large TF I use 1/10 leverage.

5 pips = 50 pips.

You get the same result with less risk but you have to wait out a larger move.

I call it long term scalping :lol:


You can easily make money using what TRO showed you as well.

Just please look at the surrounding PA.

If price is skyrocketing upwards on a >60* angle then you are a dumb ass if you take a short trade.

Try and mix it with logic...

If you are trading the short term charts then pick one direction.

If you are frequently getting stopped out then that should encourage you to use limit orders.

nkhawaja
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Postby nkhawaja » Thu Aug 19, 2010 6:34 am

i think one of the key is what you said "If price is skyrocketing upwards on a >60* angle then you are a dumb ass if you take a short trade.
"
this is a huge mistake that i am taking short again these momentum bars. this is what i need to learn in TRO's method.

the other mistake is trading in both directions :(

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Postby jlpk007 » Thu Aug 19, 2010 8:01 am

sorry, why cant we trade in both direction?
thx!

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Postby tfg » Thu Aug 19, 2010 8:29 am

MO, trading gbpusd on H1 and H4, what would be your SL levels?

Reading from what you said, 30 pips and 50 pips respectively sound reasonable?

...given TRO trades 5m with a 10 pips SL (already included spreads)

MightyOne wrote:
nkhawaja wrote:I am on M1 or M5, mostly M5 and trying to be within 20pips. I see the difference between your method and TRO is the stop loss.

so the screen shot is of H4 time zone, is it mostly what you trade on. +5/7 pips on H4 isnt it very low?


When trading the Rat on a large TF I use 1/10 leverage.

5 pips = 50 pips.

You get the same result with less risk but you have to wait out a larger move.

I call it long term scalping :lol:


You can easily make money using what TRO showed you as well.

Just please look at the surrounding PA.

If price is skyrocketing upwards on a >60* angle then you are a dumb ass if you take a short trade.

Try and mix it with logic...

If you are trading the short term charts then pick one direction.

If you are frequently getting stopped out then that should encourage you to use limit orders.

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lukx
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Postby lukx » Thu Aug 19, 2010 1:41 pm

Today, whole day i traded TRO method (rat zone, rat entry) sl 10 pips target 5 pips. Here are results... it is above 2% but not profit , rather loss :

Image
Last edited by lukx on Thu Aug 19, 2010 2:03 pm, edited 2 times in total.

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trueblueTEX
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Postby trueblueTEX » Thu Aug 19, 2010 1:44 pm

I don't know how that many trades in one day can be TRO's method.

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lukx
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Postby lukx » Thu Aug 19, 2010 1:55 pm

20 pips from daily extreme, rat.(I was only taking longs) .. how it can't be?

I was doing this and only this religiously :
"
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."
Last edited by lukx on Thu Aug 19, 2010 1:58 pm, edited 1 time in total.

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trueblueTEX
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Postby trueblueTEX » Thu Aug 19, 2010 1:56 pm

Overtrading.

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