MightyOne wrote:trueblueTEX wrote:MightyOne wrote:http://i52.tinypic.com/egpk0l.gif
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
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?
trueblueTEX wrote:Stopped out for 10.8 pips.
pika wrote: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."
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.
TheRumpledOne wrote:trueblueTEX wrote:Stopped out for 10.8 pips.
It looks like you could have made 1 or 2 pips.
You were in the trade for over 5 minutes.
If price is NOT going your way then it is going AGAINST you.