Much better than MINUS ten, hey?trueblueTEX wrote:Dang it, I panicked and only got 2.8 pips!!
2009.09.10 DRAIN THE BANKS - LIKE A RAT
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- trueblueTEX
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TheRumpledOne wrote:
Avery,
You said "The important part is to enter WITHIN 20 pips of the daily low". For this trade, you entered as a green at daily high, not low.
Clearly, something beyond your standard green RAT entry rules suggested to you that uc will likely (not guaranteed) break to a new high, not reverse from the new height.
In this case, what made you think uc would break to the new height?
=============================================
"Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame (with the obvious limitations explained above)
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist." - H. Rearden
=============================================
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."
Avery,
You said "The important part is to enter WITHIN 20 pips of the daily low". For this trade, you entered as a green at daily high, not low.
Clearly, something beyond your standard green RAT entry rules suggested to you that uc will likely (not guaranteed) break to a new high, not reverse from the new height.
In this case, what made you think uc would break to the new height?
Last edited by tfg on Tue Oct 05, 2010 8:38 pm, edited 1 time in total.
- trueblueTEX
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ncase wrote:The_Snowman wrote:[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]
Thank you snowman. I saw that in your screenprint later in the thread. By the way, I wouldn't be mad if you or tmanbone posted the name of the Daily Pivots and Mid points indicator(s) . Otherwise I'll just search through my batches for something obvious.
Neville
Search here:
http://kreslik.com/forums/viewtopic.php?p=37440#37440
"The simplicity of the markets is it's greatest disguise"
T
T
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- TheRumpledOne
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tfg wrote:TheRumpledOne wrote:
Avery,
You said "The important part is to enter WITHIN 20 pips of the daily low". For this trade, you entered as a green at daily high, not low.
Clearly, something beyond your standard green RAT entry rules suggested to you that uc will likely (not guaranteed) break to a new high, not reverse from the new height.
In this case, what made you think uc would break to the new height?
=============================================
"Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame (with the obvious limitations explained above)
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist." - H. Rearden
=============================================
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."
Avery,
You said "The important part is to enter WITHIN 20 pips of the daily low". For this trade, you entered as a green at daily high, not low.
Clearly, something beyond your standard green RAT entry rules suggested to you that uc will likely (not guaranteed) break to a new high, not reverse from the new height.
In this case, what made you think uc would break to the new height?
I didn't enter at the daily high. My entry was back in the green rat zone.
The RAT_PLOT indicator shows ALL of the rat reversal entries, not just the ones in the zone.
Let's clear things up:
1) To trade like a RAT is to ALWAYS trade in ONE DIRECTION - either LONG or SHORT. Once you pick a "team", you can't switch.
2) The "within 20 pips of the daily high/low" is the BEST possible entry to get the maximum run BUT the RAT REVERSAL entry works ANYWHERE on the chart.
GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS.
RED RAT REVERSAL - SHORT ENTRY CRITERIA: 1) GREEN CANDLE CLOSES 2) RED CANDLE CLOSES 3) PRICE TOUCHES LOW OF PREVIOUS RED CANDLE - ENTER SHORT. STOP LOSS IS ALWAYS 10 PIPS.
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
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trueblueTEX wrote:+ 6.2, so I'm net -0.3 for the day
wheew!
You are over trading.
Next time, you get ONE trade per H1 candle.
This restriction will cause you to choose carefully.
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
Quote tmanbone"
"
Quote TRO "GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS."
OR 3) Price closes above high of previous candle with "some" memo. Enter on pullback to 2).
"
Quote TRO "GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS."
OR 3) Price closes above high of previous candle with "some" memo. Enter on pullback to 2).
Is price closing higher or lower than something? Simple yet powerful question. ..MO
- skivers
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TheRumpledOne wrote:trueblueTEX wrote:+ 6.2, so I'm net -0.3 for the day
wheew!
You are over trading.
Next time, you get ONE trade per H1 candle.
This restriction will cause you to choose carefully.
I will also take that advise
I got stopped out twice today as a Red Rat on the EURUSD
The fist three days were beginners luck!
Also, is it a good idea to keep an hourly chart open all the time to remind me of the bigger price action picture?
Hi TRO,
I've posted the questions below in another thread (Data Mining) but since we are on this page which is more relevant perhaps I'll ask the same questions again. Hope you can advice. Thank you.
"I am not exactly sure why we can't be a green and red rat at the same time. Since the daily high and daily low will not happen at the same time, that means we can apply the same method to both ends of the daily candle right?
Is there not a time when we should change the color of our rat, such as when we see a trend reversal in the longer time frame (i.e. weekly, monthly)?"
I've posted the questions below in another thread (Data Mining) but since we are on this page which is more relevant perhaps I'll ask the same questions again. Hope you can advice. Thank you.
"I am not exactly sure why we can't be a green and red rat at the same time. Since the daily high and daily low will not happen at the same time, that means we can apply the same method to both ends of the daily candle right?
Is there not a time when we should change the color of our rat, such as when we see a trend reversal in the longer time frame (i.e. weekly, monthly)?"
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