2009.09.10 DRAIN THE BANKS - LIKE A RAT

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ForexChick
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Postby ForexChick » Tue Aug 31, 2010 1:28 pm

Today's trades
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noushina
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Postby noushina » Tue Aug 31, 2010 1:40 pm

nice work FC. I gotta tell ya, I hate it when a newbie walks in a starts beatin the pants off me tradin' --- and I won't even mention the male ego thing (oh wait, I just did) emoticon(':oops:')
Last edited by noushina on Tue Aug 31, 2010 5:20 pm, edited 2 times in total.

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MightyOne
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Re: Still trading this method?

Postby MightyOne » Tue Aug 31, 2010 4:10 pm

noushina wrote:
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.



You actually downloaded that crap :wink: :lol:

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noushina
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Re: Still trading this method?

Postby noushina » Tue Aug 31, 2010 5:12 pm

MightyOne wrote:
noushina wrote:
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 elaborite for mere security. Especially since presumably has a 21 day timer built in.



You actually downloaded that crap :wink: :lol:
:roll:
I wanted to look at the EA and DLLs. It appears they didn't even bother to spend $800 to protect the ex4 file. Will be doing major malware scan when i get home just in case there was more going on with that install than just putting the EA and template in all of my mt4 accounts

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TygerKrane
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Postby TygerKrane » Wed Sep 01, 2010 12:35 am

TheRumpledOne,
Would you say that regardless of the method you had been using over the years (be it "Anatomy of Draining the Banks", "Draining the Banks Rev. 8", "Draining the Banks Rev. 9", "Drain the Banks - Like A Rat" --{Anybody else see a pattern theme here??}--, or "Buy Zone"), your mentality / how you approached trading on a daily basis was always as in the below post?

TheRumpledOne wrote:if price moves in your favor 2 pips and then stops...

if you do not take 2 pips and lose 10

who is to blame?

here's what happens...

first trade...

price moves up 2 and stops

trader takes 2 pips and then price zooms up another 20 + pips

trader gets mad

second trade

price moves up 2 pips and stops

trader THINKS and decides NOT to take the 2 pips

price drops and stops trader out

so... 2 + 2 = 4 (RAT)

or

2 - 10 = -8 (YALE STUDENT)

YOU DECIDE

WHEN PRICE STOPS MOVING... DO YOU KNOW WHAT WILL HAPPEN NEXT?

the idea is to be PROFITABLE PERIOD

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TheRumpledOne
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Postby TheRumpledOne » Wed Sep 01, 2010 12:15 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 » Wed Sep 01, 2010 12:36 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 important part is to enter WITHIN 20 pips of the daily low. The RAT REVERSAL is only one entry method.

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

"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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The_Snowman
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Postby The_Snowman » Wed Sep 01, 2010 12:49 pm

When you posted the 20 pips within the low of the day, I was hoping you would catch the dead rat bounce on the YEN and post the chart!

I am stuck in the desert, no data, no charts, only can see the YEN drop on Marketwatch.com, but I knew there would be a rebound.

Thanks for posting :D

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TygerKrane
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Netdania Web Tools

Postby TygerKrane » Wed Sep 01, 2010 2:02 pm

The_Snowman wrote:When you posted the 20 pips within the low of the day, I was hoping you would catch the dead rat bounce on the YEN and post the chart!

I am stuck in the desert, no data, no charts, only can see the YEN drop on Marketwatch.com, but I knew there would be a rebound.

Thanks for posting :D

You're quite the interesting character, lol, funny!

[font=Comic Sans MS]As Far As Having No Charts:[/font]
Netdania Chartstation
And it looks like the Chartstation has a useful, new tool that they are testing in beta. You can now draw trendlines on charts and get alerts from it
Receive alerts on: Skype / SMS or e-mail / Yahoo Messenger / Windows Live Messenger

Otherwise, I started taking a particular liking to
Netdania Netstation
It packs more features into one interface (it doesn't look like it has the alert though.)

Both tools allow you to save your customizations, layouts, color changes, etc. {Both are free.}

You can even overlay a second currency/ commodity/ whatever over your original candle chart.

One webinar presenter suggested something regarding: using the Netstation tool, trading the pairs (and following the direction) of those that have bigger percentage changes, thereby trying to see which pairs had the most institutional flow running through them. (I don't know what time the daily calculations start tho.)

Grouped by Majors pairs
Image

Grouped by Euro pairs
Image


It does several precious metals, and oil, and apparently you can track options too.

Image


Begging apologies for going so deep on this off-topic thing.

~Krane

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TheRumpledOne
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Postby TheRumpledOne » Wed Sep 01, 2010 2:58 pm

TygerKrane wrote:TheRumpledOne,
Would you say that regardless of the method you had been using over the years (be it "Anatomy of Draining the Banks", "Draining the Banks Rev. 8", "Draining the Banks Rev. 9", "Drain the Banks - Like A Rat" --{Anybody else see a pattern theme here??}--, or "Buy Zone"), your mentality / how you approached trading on a daily basis was always as in the below post?

TheRumpledOne wrote:if price moves in your favor 2 pips and then stops...

if you do not take 2 pips and lose 10

who is to blame?

here's what happens...

first trade...

price moves up 2 and stops

trader takes 2 pips and then price zooms up another 20 + pips

trader gets mad

second trade

price moves up 2 pips and stops

trader THINKS and decides NOT to take the 2 pips

price drops and stops trader out

so... 2 + 2 = 4 (RAT)

or

2 - 10 = -8 (YALE STUDENT)

YOU DECIDE

WHEN PRICE STOPS MOVING... DO YOU KNOW WHAT WILL HAPPEN NEXT?

the idea is to be PROFITABLE PERIOD



Yes.
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.


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