2009.09.10 DRAIN THE BANKS - LIKE A RAT

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eudamonia
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Postby eudamonia » Thu Sep 23, 2010 5:43 pm

lukx wrote:EU also kicked my ass:
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If only you had gone short where you went long. Your losses are so consistent that if you just did the opposite of what you traded you would make Mr. Soros look like a beggar. :shock:

By the way wanna know who was on the opposite side of your trade? Thanks for the pips buddy!

P.S. - not trying to be a bastard :twisted: just trying to get you to SEE what is right in front of your face.
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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lukx
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Postby lukx » Thu Sep 23, 2010 6:28 pm

how I could go short if I'm green rat ?!

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ajaymein
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Postby ajaymein » Thu Sep 23, 2010 6:57 pm

lukx wrote:how I could go short if I'm green rat ?!


Become a red rat. :lol:

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Postby goldfinger » Thu Sep 23, 2010 7:04 pm

Hi Avery:
Do you speak spanish?

I like to work with "Drain the Bank", and I have a lot of question.
but my English is not good.javascript:emoticon(':(')

Thanks

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eudamonia
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Postby eudamonia » Thu Sep 23, 2010 7:10 pm

+1

I can't help you with preconceptions, indicators, etc. All apologizes to Avery (although he might say the same thing), but the indicators/methodologies/etc. are just TOOLS. YOU are the TRADER not a TOOL.

The only thing I can tell you about is what the Euro was DOING at the time you placed your TRADE. The only logical position is to be SHORT or do NOTHING. There was nothing that the market was TELLING you that should have indicated that going long was the right decision.

You attempted to fade the extreme lows of a market headed lower (in the short run). The low of the day, near the low of the 4 hr bar. What secret info did you have that made you think the market would go up from that point? Can you SEE that?
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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Postby nkhawaja » Thu Sep 23, 2010 7:36 pm

well eudamonia!

RAT is a reversal trade and LuKx is executing the trade according to the rules, which is RED close, Green Close, Price in the low of 20 pips. THis is what i am doing too. So what are the filters here then

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Postby nkhawaja » Thu Sep 23, 2010 7:38 pm

Also you are seeing the after effects. when it is all happening, what makes you think it will keep going down?

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Postby ajaymein » Thu Sep 23, 2010 8:01 pm

When you are taking a rat reversal and it gets stopped out, you have to wait for another entry which may be a few candles away. Some days price just keeps dropping like a never ending waterfall, but most days it WILL reverse and you will eventually get a winner, which in many cases will more than make up for your losses (not if you only take a couple of pips tho).

Like TRO says, price is either making new lows/highs, or reversing from lows/highs. Eventually, it will reverse and that is the rat entry that will make you money.

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Postby ajaymein » Thu Sep 23, 2010 8:04 pm

lukx wrote:well TRO i though I can see but unfourtanetely I took EG trade and lost:

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There are 3 winning green rat reversal trades you could have taken after your loss. Why didn't you take any of those and make up for your loss plus some pips ?

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eudamonia
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Postby eudamonia » Thu Sep 23, 2010 8:40 pm

nkhawaja,

I understand the RAT system. However, I am just telling you what I SAW. The system is the TOOL. I am the TRADER - not a TOOL. Use the TOOL, don't be used by the TOOL.

I saw more than just the after effect of this trade. I was in this trade short at the same time Lukx was long. What did I SEE?

New lower lows, lower highs that failed to move higher, and sufficient volume. The probability was to the short side. Price was cyclical (in other words don't just take any price but work your order) not completely dominated by one side or the other. The locals were in control of the market (look at the many fakeouts to SEE this truth). With all that information you can't seriously believe that Lukx's loss was a suprise. His long was a PERFECT SHORT. The market was begging to be shorted at that level. DO YOU SEE IT?
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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