2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Mon Sep 20, 2010 1:57 pm

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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.


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

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!

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trueblueTEX
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Postby trueblueTEX » Mon Sep 20, 2010 2:03 pm

I ended up with 5.3 pips on that trade you just posted, Avery. It looked to me like it was stalling on that second Green candle after the bottom red candle, so I bailed.

Obviously, I could have gained more.

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Postby tfg » Mon Sep 20, 2010 2:22 pm

TheRumpledOne wrote:
tfg wrote:Avery,

Do you use D1 Flying Buddha green arrow to filter your green rat trades as you said on the manual?


Shhhhhh!!!

Don't give away all the secrets...LOL!!


OOPS!

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TheRumpledOne
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Postby TheRumpledOne » Mon Sep 20, 2010 2:25 pm

Forget about that.

You got 5. Do that every day with proper position size and you can be rich.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TygerKrane
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Postby TygerKrane » Mon Sep 20, 2010 6:30 pm

http://kreslik.com/forums/viewtopic.php?p=45964#45964
lukx wrote:
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 :)

Bredz,
I can't make sense out of this sentence, either.

~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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Asian Market Dying Out

Postby TygerKrane » Mon Sep 20, 2010 6:36 pm

:?: johnedward :?: wrote:
TheRumpledOne wrote:Image


I printed this thing out and then it hit me: how come the Asian market dies out 3 hours after it opens? Is this an error or is there something I don't know about Asian trading???

:?:

That's a good point johnedward, can anyone explain that? I'm curious as well...

~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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Postby TygerKrane » Mon Sep 20, 2010 7:03 pm

trueblueTEX wrote:I ended up with 5.3 pips on that trade you just posted, Avery. It looked to me like it was stalling on that second Green candle after the bottom red candle, so I bailed.

Obviously, I could have gained more.


trueblueTEx,
But was it REALLY obvious though??:

Your post reminds me of this:
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


Now, I don't purely look to get my pips from DTB'ing LIKE A RAT withing 20 pips of the extreme, but when TheRumpledOne confirmed this was & is a proper mentality to have for scalping, it meant the world to me and confirmed that one need not DRAIN each Rat Reversal for it's full worth (which you would only know in hindsight) in order to be carrying out this scalping procedure correctly.

:idea: TheRumpledOne :idea: wrote:
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.


So just like in TRO's example, remind yourself [highlight=yellow][font=Comic Sans MS]when you're in the heat of a trade[/font][/highlight];

Is it 2 - 10
or
2 + 2

for you?

-----------------------
All that being said, I do congratulate you on your successes you post, and the progress you've been making learning this method. <But it totally sounded like you were leaning towards passing up on your next 5pip trade, so I felt to speak up.>

~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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trueblueTEX
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Postby trueblueTEX » Mon Sep 20, 2010 8:08 pm

Hey Krane,

I am teaching myself this very lesson, right now: take what the market offers you!!

I have spent much more time on methods/systems that required high pip counts to make any money because you had to give the trade "room to develop" = drawdown ie, need big leverage.

I will succeed at this. It will just take some repeated failures and successes to carve the new pathways in my brain :-)

TEX

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bredin
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Postby bredin » Mon Sep 20, 2010 11:40 pm

TygerKrane wrote:http://kreslik.com/forums/viewtopic.php?p=45964#45964
lukx wrote:
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 :)

Bredz,
I can't make sense out of this sentence, either.

~Krane


TRO is a fantastic scalper. I have learned that I am not.

oh.. you meant the other part :D

Ive stopped chasing small pip targets. Im only interested in hundreds and thousands of pips... I make a number of small losses or b/e placing positions, cover them with positions closed strategically and let the rest go.... Linear Risk, Exponential Rewards.

But this is a thread for TROs RAT, not my abominable rat :lol: so I'll shut up again :)

G.
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Postby rjmann » Tue Sep 21, 2010 9:58 am

I swear my broker is stealing from me. I'm going to try MBT and I hope I have better spreads. When taking an opportunity on the G/U sometimes I start out in the hole 5 pips, when I try to put in a pending order, I get error messages saying I need to be 30 pips from my entry, and I miss my entry.
When this method finally hit me, I thought I was going to start making pips fast, but realy I'm just making my broker money.
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