2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TygerKrane
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Postby TygerKrane » Sun Oct 17, 2010 1:45 pm

bredin wrote:
jlpk007 wrote:Do you guys trade with 5min chart for reversal method?


Well, you know... start at M5 work up to H4... look to close in a few weeks or months ;)

G.

Great explanation Bredz :wink: :lol:
But a Picture is Worth a 1000 Words...
especially if it is one of your own pics! :o :shock:

http://kreslik.com/forums/viewtopic.php?p=45730#45730
http://kreslik.com/forums/viewtopic.php?p=45733#45733
http://kreslik.com/forums/viewtopic.php?p=45736#45736

**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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pika
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Postby pika » Sun Oct 17, 2010 2:04 pm

jlpk007 wrote:Do you guys trade with 5min chart for reversal method?

I believe the rat reversal method can be applied to any time frame in principle. However, you need to adjust the stop loss and lot size to fit with the time frame of the chart that you are trading in such that the risk level is consistent for each trade, e.g. 1% to 2%. This is important because with a stop loss of 10 pips, it is suited for a 5min chart. If your entry is based on a longer time frame candle, you must allow a higher stop loss and an inversely lower lot size to maintain the same risk level. One way to determine this is by looking at the ATR. e.g. if the ATR of a 1H chart is 3x that of a 5min chart, then adjust your stop loss 3x from 10 to 30 pips and reduce the lot size by 1/3 if you are following the method based on 1H chart. Watch out for the price action too.

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genlogins
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I scalp M1

Postby genlogins » Sun Oct 17, 2010 9:52 pm

Hi Skivers,

I know what you feel about the fast profit trigger finger, it happenned to my last trade.

I could get out with at leat $100, but too fast. But I already did $150 in 1 candle of M1.

Now I am concentrating again in getting back at the Real Account not the Demo.

G
Attachments
retrace.gif
I was in demo Shame on me. And when you have a fast candle, never get in, wait until the next candle, because after a fast raise in price there is normally a retracement. If next candle start retracing in the biginning, then enter with a big lot.
retrace.gif (59.38 KiB) Viewed 1576 times

jlpk007
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Postby jlpk007 » Mon Oct 18, 2010 8:21 am

bredin wrote:
jlpk007 wrote:Do you guys trade with 5min chart for reversal method?


Well, you know... start at M5 work up to H4... look to close in a few weeks or months ;)

G.


sorry dont quite understand what you mean... :cry:

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bredin
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Postby bredin » Mon Oct 18, 2010 11:06 am

Welcome to the era of "Guns and Maskies" Trading!
The previous message contains discretion. Viewer nudity is advised.
Insanity Industries Indicators Here
Insanity Industries on YouTube!

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TheRumpledOne
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Postby TheRumpledOne » Mon Oct 18, 2010 2:48 pm

Image

"Look, for example, at this elegant little experiment. A rat was put in a T-shaped maze with a few morsels of food placed on either the far right or left side of the enclosure. The placement of the food is randomly determined, but the dice is rigged: over the long run, the food was placed on the left side sixty per cent of the time. How did the rat respond? It quickly realized that the left side was more rewarding. As a result, it always went to the left, which resulted in a sixty percent success rate. The rat didn't strive for perfection. It didn't search for a Unified Theory of the T-shaped maze, or try to decipher the disorder. Instead, it accepted the inherent uncertainty of the reward and learned to settle for the best possible alternative.

The experiment was then repeated with Yale undergraduates. Unlike the rat, their swollen brains stubbornly searched for the elusive pattern that determined the placement of the reward. They made predictions and then tried to learn from their prediction errors. The problem was that there was nothing to predict: the randomness was real. Because the students refused to settle for a 60 percent success rate, they ended up with a 52 percent success rate. Although most of the students were convinced they were making progress towards identifying the underlying algorithm, they were actually being outsmarted by a rat."

P64 HOW WE DECIDE (italics added)

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

"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

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

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.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Mon Oct 18, 2010 3:37 pm

Image

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

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."

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

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!



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TheRumpledOne
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Postby TheRumpledOne » Tue Oct 19, 2010 1:19 pm

Image

Price within 20 pips of the daily low (ClLo <= 20) - that is OPPORTUNITY

Current price - current daily low is less than 20.
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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TheRumpledOne
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Postby TheRumpledOne » Tue Oct 19, 2010 8:13 pm

Image

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

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."

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

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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TheRumpledOne
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Postby TheRumpledOne » Wed Oct 20, 2010 12:16 pm

Image


Price within 20 pips of the daily low (ClLo <= 20) - that is OPPORTUNITY

Current price - current daily low is less than 20.
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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