2009.09.10 DRAIN THE BANKS - LIKE A RAT

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 15544
Joined: Sun May 14, 2006 9:31 pm
Reputation: 3035
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Aug 18, 2010 1:08 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.
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 add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 15544
Joined: Sun May 14, 2006 9:31 pm
Reputation: 3035
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

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

Image


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!



Please do NOT PM me with trading or coding questions, post them in a thread.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 6055
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 560
Gender: Male

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
rank: <50 posts
rank: <50 posts
Posts: 49
Joined: Wed Aug 26, 2009 5:44 pm
Reputation: 2
Gender: None specified

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 :(

jlpk007
rank: <50 posts
rank: <50 posts
Posts: 17
Joined: Wed Mar 10, 2010 6:40 am
Reputation: 0
Gender: None specified

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

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

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

tfg
rank: 50+ posts
rank: 50+ posts
Posts: 83
Joined: Thu May 06, 2010 8:53 am
Reputation: 0
Location: London
Gender: None specified

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.

User avatar
lukx
rank: 500+ posts
rank: 500+ posts
Posts: 789
Joined: Wed Feb 04, 2009 5:10 pm
Reputation: 2
Gender: Male
Contact:

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.

User avatar
trueblueTEX
rank: 500+ posts
rank: 500+ posts
Posts: 532
Joined: Mon Apr 12, 2010 4:38 pm
Reputation: 2
Gender: None specified

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.

User avatar
lukx
rank: 500+ posts
rank: 500+ posts
Posts: 789
Joined: Wed Feb 04, 2009 5:10 pm
Reputation: 2
Gender: Male
Contact:

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.

User avatar
trueblueTEX
rank: 500+ posts
rank: 500+ posts
Posts: 532
Joined: Mon Apr 12, 2010 4:38 pm
Reputation: 2
Gender: None specified

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

Overtrading.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”