2009.09.10 DRAIN THE BANKS - LIKE A RAT

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HORSEMOUTH201
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Postby HORSEMOUTH201 » Wed Sep 29, 2010 3:45 pm

LOL...Thanks for the reply...I took the CAD trade as well, but using the 1 hr chart....
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HORSEMOUTH201
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Postby HORSEMOUTH201 » Wed Sep 29, 2010 3:49 pm

It's my first trade using this method, but just wondering if it would have been better to use a smaller time frame like you did, in case the trade turns south within that hr..any thoughts

nkhawaja
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Postby nkhawaja » Wed Sep 29, 2010 7:53 pm

TheRumpledOne wrote:Image

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."


TRO boss, i am still struggling with this method. in this particular sceen shot why did you take the last green entry?
if you count the candles from the right, the 12 green candle, why was not taken?
this strategy looks simple but for me it is only simple on paper and once the trade is over and i watch the screen shots of postings from you and other experts. But while in the trade, if the pair is within 20pips, it is in down trend already and most of the time i end up in stop being triggered.

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TheRumpledOne
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Postby TheRumpledOne » Wed Sep 29, 2010 9:32 pm

nkhawaja wrote:
TheRumpledOne wrote:Image

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."


TRO boss, i am still struggling with this method. in this particular sceen shot why did you take the last green entry?
if you count the candles from the right, the 12 green candle, why was not taken?
this strategy looks simple but for me it is only simple on paper and once the trade is over and i watch the screen shots of postings from you and other experts. But while in the trade, if the pair is within 20pips, it is in down trend already and most of the time i end up in stop being triggered.


If you can't handle M5 then switch to M15, H1 or H4. This might help you SEE.
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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tmanbone
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Postby tmanbone » Thu Sep 30, 2010 1:30 am

In first green line out first red. In again second green line out second red, in at third green line out at third red. +64. Would you have traded this pair similarly or only taken the single trade out of the rat zone? Thanks,

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Last edited by tmanbone on Thu Sep 30, 2010 11:04 am, edited 1 time in total.
"The simplicity of the markets is it's greatest disguise"

T

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pika
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Postby pika » Thu Sep 30, 2010 11:03 am

For the Rat Reversal method, I think it is better to enter a trade in the direction of the prevailing daily trend. This will ensure a much better chance that the trade will not reverse on you.

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TheRumpledOne
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Postby TheRumpledOne » Thu Sep 30, 2010 12:15 pm

Image

Price within 20 pips of the daily low - that is OPPORTUNITY

Current price - current daily low is less than 20.

ClLo <= 20
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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HORSEMOUTH201
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Postby HORSEMOUTH201 » Thu Sep 30, 2010 12:41 pm

Hope you dodn't mind me posting this on your thread Tro, I might just be getting the hang of this..The red candle closed with a low of 1.8573, which is 12pips from daily low....Green candle closes, price breaks high of green candle..Bang..Glad I was focusing on the 15 minute chart, rather than the 1 hr like I did yesterday....Using a FSB at the mo, but spead is 1pip on this currency..Hopefully, will join the big boys soon.. 8)
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trueblueTEX
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Postby trueblueTEX » Thu Sep 30, 2010 1:11 pm

2.9 then 5.6 pips on the USDCAD.

Begininning to feel like a sniper :-)
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TheRumpledOne
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Postby TheRumpledOne » Thu Sep 30, 2010 1:25 pm

Image

RESULTS.

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.

"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."

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

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
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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