You are COLD.
You sound like YALE material.
QUIT THINKING.
2009.09.10 DRAIN THE BANKS - LIKE A RAT
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- TheRumpledOne
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- skivers
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trueblueTEX wrote:TRO,
http://kreslik.com/forums/userpix/12257_why_not_1.jpg
The first 2 green rat reversals were losing
Do you see a reason not to enter those trades?
Hints: There are at least 2 reasons. Use your eyes to see - do not think about it.
entries.
Here are my attemps:
1) There were 7 red candles before the first green one.
2) Both green candles following the red candles were IB's.
3) The bodies of both green candles were about 85% to 90% the size of the bodies of the preceding red candles.
4) Entry point is well above the middle of the 20 pip zone; greater chance of getting stopped out.
Am I warm?
I agree about the IB's - The reversals candles should either be making an attempt to push above the previous candle or have been rejected after a push below the previous candle .
From previous posts I believe TRO has said that the trade is valid when leaving the 20 pip zone - irrespective of waiting to take the trade at the top of the previous reversal candle. - Its your last chance if you did not see a rat reverse signal ( like - price left the zone in one push)
You have made some other good points as well.
TRO sort of suggests, there are more than two reasons not to have entered
This is good stuff to discuss - It will help a lot of us to start thinking.
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Greetings from Romania to al of you people and special thanks to TheRumpledOne for sharing with us his trading knowledge!
I'm very new to this business, just one month.
Yesterday I've start trading (on demo) the way TheRumpledOne is learning us and I start having some promissing results. I like this method of trading because I consider it a form of ZEN.
Best regards!
I'm very new to this business, just one month.
Yesterday I've start trading (on demo) the way TheRumpledOne is learning us and I start having some promissing results. I like this method of trading because I consider it a form of ZEN.
Best regards!
- trueblueTEX
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TheRumpledOne wrote:You are COLD.
You sound like YALE material.
QUIT THINKING.
We will try again. Probably more YALE material but maybe this exercise will exorcise the YALE in me
Neither of the first 2 Green candles closed above a preceding candle.
But this begs the question: would you have taken the 3rd setup?
or would you have waited till the 4th setup when price exited the 20 pip zone?
- TygerKrane
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trueblueTEX wrote:Skivers,
can you post a link to the page where that graph of TRO's can be found?
Thanks
Tex
http://kreslik.com/forums/viewtopic.php?p=35164#35164
**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!
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- skivers
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TheRumpledOne wrote:
RESULTS.
Reversals come in one of two flavors, "V" shaped or "U" shaped. This was a "U" shaped.
Mr Yale will have another go
After a fall like that, just one green candle on its own wasn't enough evidence - after seeing two greens close side by side you saw a possible reversal signal?
But a V shaped formation might not have given you time to enter on the break of a previous high - so you simply place a market order at the top of the zone and grabbed any pips offered?
- skivers
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TheRumpledOne wrote:
The first 2 green rat reversals were losing entries.
Do you see a reason not to enter those trades?
Hints: There are at least 2 reasons. Use your eyes to see - do not think about it.
Oh! - And after the first green pair together - the greens simply start to balance the reds - so the market is fighting back here?
- rob_deniro
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