2009.09.10 DRAIN THE BANKS - LIKE A RAT

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rjmann
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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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trueblueTEX
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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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trueblueTEX
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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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MightyOne
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Postby MightyOne » Tue Sep 21, 2010 4:28 pm


pika
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Postby pika » Tue Sep 21, 2010 5:31 pm

TheRumpledOne wrote:
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."


Hi Avery,

Thank you for sharing your Rat Reversal method which I follow with interest. I would like to clarify what you mean by the statement "The RAT REVERSAL is only one entry method." Do you mean this method should be used only once a day? Or it should not be entered more than once when a trade is running? Or it should not be entered concurrently with more than one pair at any one time? Or do you mean entry should only be based on only one direction consistently (i.e. one must choose to be either a green or a red rat, but not both)? etc... Look forward to your advice.

Ken

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trueblueTEX
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Postby trueblueTEX » Tue Sep 21, 2010 6:04 pm

MightyOne wrote:http://i52.tinypic.com/egpk0l.gif

MO,

I know there's some message in that pic somewhere.

Can you give me some hints?

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MightyOne
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Postby MightyOne » Tue Sep 21, 2010 6:37 pm

trueblueTEX wrote:
MightyOne wrote:http://i52.tinypic.com/egpk0l.gif

MO,

I know there's some message in that pic somewhere.

Can you give me some hints?


Check your long(er) term charts...

http://i56.tinypic.com/bhwuup.gif

cwn6161
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Postby cwn6161 » Tue Sep 21, 2010 6:43 pm

MightyOne wrote:
trueblueTEX wrote:
MightyOne wrote:http://i52.tinypic.com/egpk0l.gif

MO,

I know there's some message in that pic somewhere.

Can you give me some hints?


Check your long(er) term charts...


Nice YEARLY low....mmmm

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trueblueTEX
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Postby trueblueTEX » Tue Sep 21, 2010 6:49 pm

Here's my chart in H1, where I bought was in a green candle (actually a green rat trade). On the H1, it looks like I got in late and it just fell back and hit SL.

I don't see how looking at the H1 would have kept me out of this trade.

Unless what you are referencing is the stair step down over a couple of days.

Is that what you are referring to?

Thanks
TEX
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MightyOne
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Postby MightyOne » Tue Sep 21, 2010 6:59 pm

trueblueTEX wrote:Here's my chart in H1, where I bought was in a green candle (actually a green rat trade). On the H1, it looks like I got in late and it just fell back and hit SL.

I don't see how looking at the H1 would have kept me out of this trade.

Unless what you are referencing is the stair step down over a couple of days.

Is that what you are referring to?

Thanks
TEX


There was nothing wrong with taking a long rat trade and you should have made a handful of pips...
the bigger picture however was bearish and that is all I was saying (although I couldn't literally say it :lol: )

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