2009.09.10 DRAIN THE BANKS - LIKE A RAT

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ForexChick
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Postby ForexChick » Mon Aug 30, 2010 3:17 pm

GBPUSD
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Postby ForexChick » Mon Aug 30, 2010 3:31 pm

GBPUSD again
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TheRumpledOne
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Postby TheRumpledOne » Mon Aug 30, 2010 3:44 pm

Image

"Look, for example, at this elegant little experiment. A rat was put in a T-shaped maze with a few morsels of food placed on either the far right or left side of the enclosure. The placement of the food is randomly determined, but the dice is rigged: over the long run, the food was placed on the left side sixty per cent of the time. How did the rat respond? It quickly realized that the left side was more rewarding. As a result, it always went to the left, which resulted in a sixty percent success rate. The rat didn't strive for perfection. It didn't search for a Unified Theory of the T-shaped maze, or try to decipher the disorder. Instead, it accepted the inherent uncertainty of the reward and learned to settle for the best possible alternative.

The experiment was then repeated with Yale undergraduates. Unlike the rat, their swollen brains stubbornly searched for the elusive pattern that determined the placement of the reward. They made predictions and then tried to learn from their prediction errors. The problem was that there was nothing to predict: the randomness was real. Because the students refused to settle for a 60 percent success rate, they ended up with a 52 percent success rate. Although most of the students were convinced they were making progress towards identifying the underlying algorithm, they were actually being outsmarted by a rat."

P64 HOW WE DECIDE (italics added)

=============================================

"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

=============================================

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.

frang0nve
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Re: Check this out

Postby frang0nve » Mon Aug 30, 2010 5:29 pm

*** Now can someone please tell me how to navigate back to page 90 so I can continue reading from there? The links only show the first 3 and last 3 pages, CRIKEY !! :x


This link will do it:

http://kreslik.com/forums/viewtopic.php ... &start=890

If you want to go to page X, you have to type:

"http://kreslik.com/forums/viewtopic.php?t=2095&postdays=0&postorder=asc&start=Z"

Z=(X-1)*10

Cheers

Francisco

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Postby MightyOne » Mon Aug 30, 2010 6:40 pm

ForexChick wrote:GBPUSD again


Try waiting for a lower low before taking another entry

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ForexChick
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Postby ForexChick » Mon Aug 30, 2010 10:00 pm

MightyOne wrote:
ForexChick wrote:GBPUSD again


Try waiting for a lower low before taking another entry


Thanks for the tip! This actually makes sense :)

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The_Snowman
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Still trading this method?

Postby The_Snowman » Tue Aug 31, 2010 10:42 am

gangsta1 wrote:Anyone got any advice on Money Management with the Rat method?

I am targeting 20 pips a day.
I always use a 10 pip stop.

I am stuck between taking 10 pips per trade or setting a break even around 5 or 10 pips and attempting to hit my daily target.

Any advice would be great. Are people just taking what they can or letting the trades go on runs? Anyone setting a break even or using a trailing stop?


gangsta, I think an add on program like this = MY FX Console = would be ideal for this style of trading.

And it can do both of the things you asked about, set hard Take Profit levels, or move Stops to Break Even after so many pips, so much easier to let the trade run on if it wants to.

Unfortunately, I don't have access to internet with my laptop right now or I would continue with my trial of it.

It costs, but has many useful features, doesn't hurt to check it out.

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noushina
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Re: Still trading this method?

Postby noushina » Tue Aug 31, 2010 11:52 am

The_Snowman wrote:gangsta, I think an add on program like this = MY FX Console = would be ideal for this style of trading.

And it can do both of the things you asked about, set hard Take Profit levels, or move Stops to Break Even after so many pips, so much easier to let the trade run on if it wants to.

Unfortunately, I don't have access to internet with my laptop right now or I would continue with my trial of it.

It costs, but has many useful features, doesn't hurt to check it out.

Everyone of your posts mentions this software. But you have no affiliation with it. You just happen to be demoing it and want to share it with the world. I had a bit of a time uninstalling it, and got security warnings too because it wants to communicate information from my computer. Seems a bit elaborit for mere security. Especially since presumably has a 21 day timer built in.

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TheRumpledOne
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Postby TheRumpledOne » Tue Aug 31, 2010 12:13 pm

Image



=============================================

"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

=============================================

1) Price within 20 pips of the daily low - that is OPPORTUNITY
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.

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TheRumpledOne
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Postby TheRumpledOne » Tue Aug 31, 2010 1:07 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!



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

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Thank you for your support.


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