2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 21, 2010 10:55 am

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1) Price within 20 pips of the daily low - that is OPPORTUNITY
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 21, 2010 11:02 am

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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.

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

"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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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 21, 2010 12:46 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!



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

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trueblueTEX
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Postby trueblueTEX » Tue Sep 21, 2010 1:54 pm

Stopped out for 10.8 pips.
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trueblueTEX
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Postby trueblueTEX » Tue Sep 21, 2010 2:11 pm

Looks like I could have gotten about 7 or 8 pips on the very NEXT entry if I'd taken it instead of walking away from the computer.
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Postby rjmann » Tue Sep 21, 2010 2:27 pm

trueblueTEX - Are you using MT4 to make your entries?
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Postby trueblueTEX » Tue Sep 21, 2010 2:30 pm

yes

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Postby rjmann » Tue Sep 21, 2010 2:52 pm

trueblueTEX - When you say you got stopped out does that mean you lost 10 pips from the top of the candle, or did you actually get stopped out at 7 because of the spread being 3 or something?
I have been using MT4 with Interbank, and I'm quite sure that often the price will move, but my profit doesn't. For me right now, unless I get alot better at this, making profits will come from getting right in on the line, and a tighter spread. Think about this, if you are in your trade and you see a profit of 5, you are much more likely to take your profit than if you see only a 4 or 3.
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Postby trueblueTEX » Tue Sep 21, 2010 2:56 pm

I got stopped out at 10.8 pips It hit my sl. I was never in profit by more than 1.3 pips on that trade.

I'm thinking that taking 4 pips might be way of getting use to profiting small pips before I try tackling the 10+ runners.

I just set a Buy Limit that was NOT hit by the ask (bid went under the limit order) so it never tripped. Price proceeded to go up about 7 pips after that. I just wasn't along for the ride.

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Postby trueblueTEX » Tue Sep 21, 2010 3:00 pm

ARRHHHG!

Buy Limit was never tripped. I placed the Buy Limit on the candle with the red X. I suppose I should have just made a Market Order after the bid crossed it but the ask didn't.
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