2009.09.10 DRAIN THE BANKS - LIKE A RAT
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- TheRumpledOne
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bredin wrote:I take rat entries from extremes whenever I see them happen since I do not know if that extreme will be the extreme
G.
Thanks, Bredin.
Question though...I remember TRO's RAT stats is calculated based on the daily candles and my understanding is that this is the "edge". In London morning, more often than not (not always), the daily candle is not yet formed.
The distance between extremes could just be, say, 60 to 70 pips. Would you still consider taking a RAT reversal trade within 20 pips high/low at that moment in time where the extremes are very closed relative to the daily range to the currency pair?
- TheRumpledOne
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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.
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The important part is to enter WITHIN 20 pips of the daily low. The RAT REVERSAL is only one entry method.
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"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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- trueblueTEX
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Yeah!!! I just missed that trade!!! I just got to work and was busy for just a few minutes. I saw that price was coming out of the 20 pip zone and thought "no, I already missed the trade because there's not enough separation between the 2 zones/range isn't great enough."
And then boom, I still could have made 20+ pips if I had bought coming out of the zone!!
There's next time!
And then boom, I still could have made 20+ pips if I had bought coming out of the zone!!
There's next time!
- trueblueTEX
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- TheRumpledOne
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tfg wrote:bredin wrote:I take rat entries from extremes whenever I see them happen since I do not know if that extreme will be the extreme
G.
Thanks, Bredin.
Question though...I remember TRO's RAT stats is calculated based on the daily candles and my understanding is that this is the "edge". In London morning, more often than not (not always), the daily candle is not yet formed.
The distance between extremes could just be, say, 60 to 70 pips. Would you still consider taking a RAT reversal trade within 20 pips high/low at that moment in time where the extremes are very closed relative to the daily range to the currency pair?
Daily candle start long before London open.
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 do NOT PM me with trading or coding questions, post them in a thread.
- johnedward
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lukx, by far I am not one to hold out any expertise in trading. However, the thing that I learned from MO that has helped a great deal, is to look at whether something has closed below to go short or above something to go long.
At first, it pissed me off trying to figure out WTF MO was talking about. Then recently, it clicked.
In this recent post you made, try and wait for something price to close below the low of recent bars. Maybe it is not a pure rat reversal trade, but all that counts is getting + pips. Sorry for hijacking your thread but hope it helps.
At first, it pissed me off trying to figure out WTF MO was talking about. Then recently, it clicked.
In this recent post you made, try and wait for something price to close below the low of recent bars. Maybe it is not a pure rat reversal trade, but all that counts is getting + pips. Sorry for hijacking your thread but hope it helps.
lukx wrote:entry:
loss
gfg1 wrote:lukx, by far I am not one to hold out any expertise in trading. However, the thing that I learned from MO that has helped a great deal, is to look at whether something has closed below to go short or above something to go long.
At first, it pissed me off trying to figure out WTF MO was talking about. Then recently, it clicked.
In this recent post you made, try and wait for something price to close below the low of recent bars. Maybe it is not a pure rat reversal trade, but all that counts is getting + pips. Sorry for hijacking your thread but hope it helps.lukx wrote:entry:
loss
no, no any advice I really appreciate. I also tried to figure out this whole close lower than something, but I always see it wrong.
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