2009.09.10 DRAIN THE BANKS - LIKE A RAT

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lukx
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Postby lukx » Wed Sep 15, 2010 3:37 pm

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:
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loss
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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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Postby webmail4tom » Wed Sep 15, 2010 5:06 pm

lukx wrote:entry:
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loss
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LukX,

I am having hard days as well, but you have to see the whole picture and this entry technique as a starting point anf growing process.

Look at my chart: 5 opportunities - All except one, good for +10 and more.

Now look at the times when each RedRat started to evolve ...
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gfg1
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Postby gfg1 » Wed Sep 15, 2010 5:43 pm

lukx, maybe this can be of help as it is a picture not words. Right after your entry, there was a CC (custom candle MO refers to) that was red. It closed below the prior green one that you went short on. When the red CC closed price went down and retraced to the bottom of the closed red CC. Would have been good for 10 pips. Hope this helps.


lukx wrote: 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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bredin
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Postby bredin » Wed Sep 15, 2010 10:39 pm

I didnt see anything really wrong with lukx first entry (mabee it was against H1, I didnt really look too hard ;) ) Its just that sometimes your not at the extreme yet.
Actually I liked the look of the signal candle since it was a HH and RED.

I dump as soon as price hits a new extreme and look for a new entry after that.

lukx, the less I chase small pips the more trades I have that do not close in profit and the more money I make. TRO is a master scalper. I am not.

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TheRumpledOne
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Postby TheRumpledOne » Wed Sep 15, 2010 10:56 pm

Lukx:

Use H4 instead of M5.

It will slow you down.

Max 1 trade per candle.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Wed Sep 15, 2010 10:58 pm

EVERYONE:

PLEASE STAY ON TOPIC.

THE TOPIC IS "DRAIN THE BANKS - LIKE A RAT."
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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dojirock
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Postby dojirock » Thu Sep 16, 2010 1:08 am

Hello,

Is there a minimum you need to see on the TRO_MP_HLC_PIPS, 1st column, open-close before you trade within 20 of the high or low, depending on what kind of rat you are?

Dojirock

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lukx
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Postby lukx » Thu Sep 16, 2010 4:16 am

TheRumpledOne wrote:Lukx:

Use H4 instead of M5.

It will slow you down.

Max 1 trade per candle.


Thanks TRO I will try. Tell me please , the SL in case of using H4, I assume it got to be a bit bigger than 10 pips right?

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lukx
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Postby lukx » Thu Sep 16, 2010 4:17 am

bredin wrote:
lukx, the less I chase small pips the more trades I have that do not close in profit and the more money I make. TRO is a master scalper. I am not.

G.


mind boggling sentence :)

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TheRumpledOne
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Postby TheRumpledOne » Thu Sep 16, 2010 4:51 am

dojirock wrote:Hello,

Is there a minimum you need to see on the TRO_MP_HLC_PIPS, 1st column, open-close before you trade within 20 of the high or low, depending on what kind of rat you are?

Dojirock


No.

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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