2009.09.10 DRAIN THE BANKS - LIKE A RAT

[The_Snowman]

Quick finger being key.

Easy when you know how......... check the daily support pivot line, that's where it was headed when TRO posted

[nkhawaja]

TRO, so i tried using M15 and entred in a trade, see the picture attached, but at one point I was down 10 pips, but eventually i ended up in 20pips profit, any advise here. the arrow shows my entry at teh high of the green bar

Enter in the Rat Zone. You were 27 pips above. Why are your zones only 5 pips wide?

let me doublecheck the zone pips, i think they were fine before. also thanks, for the advise, i was in the 20pips zone at the time of the trade.

[The_Snowman]

The bounces are getting weaker = Friday afternoon - play it both ways

[tmanbone]

TRO recommends picking one direction. What about an OCO order? Entry, stop, and PT in one execution.

[nkhawaja]

I am pretty sure i had the template for TRO-RAT, and i also looked again and again in this forum. my template seems like corrupted, could you please share the template again.

thanks

[The_Snowman]

TRO recommends picking one direction. What about an OCO order? Entry, stop, and PT in one execution.

I certainly agree, and I only traded the Rat Zone signal 1 way; I used a moving average crossover and daily trend to enter the SELL trade.

I am using this MYFX for 1 click trading, entry, stop loss & take profit

I don't believe that is the definition of OCO - that opens a trade in the direction price moves, and cancels the other order.

What Does One-Cancels-the-Other Order - OCO Mean?

An order stipulating that if one part of the order is executed, then the other part is automatically canceled.

[The_Snowman]

I am pretty sure i had the template for TRO-RAT, and i also looked again and again in this forum. my template seems like corrupted, could you please share the template again.

thanks

easy to build your own, here is what I use, basically, some I have activate only on certain time frames, personal preference

pay no mind to MTPRTData, you won't have that one

[tmanbone]

An order stipulating that if one part of the order is executed, then the other part is automatically canceled.

Yes

[The_Snowman]

Hi TRO,

This is an excellent detail explanation of the theory and statistics behind the strategy. The problem for me has been when trading in realtime. During the day, one does not know where the daily hi or lo is, since price is still developing. The current hi at 12:00 noon, may be the middle price by the time the daily candle ends. Trading on the noon hi will yield stop outs.

I am incorporating ATR (Average True Range) to help with this. Are there any other suggestions on helping to guage where the HIs and LOs may be when the candle is still forming?

Thanks,

Neville

[font=Comic Sans MS]Absolutely, you need to install the Daily Pivot Points and Mid Points, see the charts I posted today, these are TRO modified indicators, they display real good and price will react at those levels due to the amount of traders that use them[/font]

[tmanbone]

I sure would like to own of set of those pivots and mids.

Edit: Found them. Thanks,