2009.09.10 DRAIN THE BANKS - LIKE A RAT

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jlpk007
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Postby jlpk007 » Thu Nov 11, 2010 6:02 pm

scarecrow93 wrote:
jlpk007 wrote:Got caught out twice.
:cry:

Waited for price to be within 20pip of low, bought on high of previous green candle..both trades are loser..What did i not see here..
I want to be green rat

ps:Pardon my poor english :oops:


I was watching this as well and it goes back to TRO's description of lower highs and lower lows, at least for the first one.

The first trade still could have been a winner with proper MM as it got more than halfway to 10 pips before reversing. Remember TRO's rule of taking profits when you can.

The second trade was just one of those trades. The price just BARELY (.2 pips on my screen) went above the previous high before going down. Forget about it and move on.


first trade was my fault..come of think of it..it was 4 pips profit but i was greedy and it turn to hit my SL :cry:

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TheRumpledOne
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Postby TheRumpledOne » Thu Nov 11, 2010 8:22 pm

Image


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

The important part is to enter WITHIN 20 pips of the daily low. The RAT REVERSAL is only one entry method.

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

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 » Thu Nov 11, 2010 8:29 pm

If lower high and lower low means price is going DOWN then what does higher highs and higher lows mean?

Look at the chart and SEE!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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trueblueTEX
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Postby trueblueTEX » Thu Nov 11, 2010 9:43 pm

TheRumpledOne wrote:...When price is going down, it leaves a trail of lower highs and lower lows.


I'm not gonna say I just saw a light bulb go off, but I think I may have just found the switch!

I mean, I, of course, ALREADY knew that but the word "TRAIL" sure seems to change what I "knew" to something I think I can "see", now.

Not sure, yet, but that one word in this context (trying to trade long in the bottom 20) may prove to be the best analogy I've read.

I haven't been able to trade all week, so I may have to wait till next week to test my "new" insight.

Thanks, TRO!

GREAT METAPHOR, "price leaves a trail"

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skivers
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Postby skivers » Thu Nov 11, 2010 10:02 pm

jlpk007 wrote:Got caught out twice.
:cry:

Waited for price to be within 20pip of low, bought on high of previous green candle..both trades are loser..What did i not see here..
I want to be green rat

ps:Pardon my poor english :oops:


Nice screenshot to discuss - Thanks

The first two greens you took were asking for trouble as the price was not seen to be reversing.

I would have taken the trade at about 1.3668 after the confirming higher highs - that's the fourth candle from the right where it broke the original green high. ( the candles are also not wanting to retest the 10 pip sweet spot line - the are opening and closing above it)

Remember. TRO said to wait until two candles close before jumping in - that means a 10 minute wait after each low (unless price is leaving the Rat Zone).

Wait to see price is reversing.

Now I will wait to find out how wrong I am
:wink:

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TheRumpledOne
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Postby TheRumpledOne » Fri Nov 12, 2010 1:35 pm

Image


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

Current price - current daily low is less than 20 pips.

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

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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Postby ajaymein » Fri Nov 12, 2010 1:47 pm

skivers wrote:
jlpk007 wrote:Got caught out twice.
:cry:

Waited for price to be within 20pip of low, bought on high of previous green candle..both trades are loser..What did i not see here..
I want to be green rat

ps:Pardon my poor english :oops:


Nice screenshot to discuss - Thanks

The first two greens you took were asking for trouble as the price was not seen to be reversing.

I would have taken the trade at about 1.3668 after the confirming higher highs - that's the fourth candle from the right where it broke the original green high. ( the candles are also not wanting to retest the 10 pip sweet spot line - the are opening and closing above it)

Remember. TRO said to wait until two candles close before jumping in - that means a 10 minute wait after each low (unless price is leaving the Rat Zone).

Wait to see price is reversing.

Now I will wait to find out how wrong I am
:wink:


I don't trade this method, but according to the rules, his 2 entries were perfect, and there is nothing wrong with them. He could have gotten out with a couple pips on the first one, but the 2nd was a dead loser. I'm sure on the 3rd entry, he would have gained back all of his losses, plus some.

Now if I were to trade this method, I would have taken the 3rd setup after a confirmation of higher lows and a momo green bar...but of course that would be thinking like a YALE student.

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TheRumpledOne
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Postby TheRumpledOne » Fri Nov 12, 2010 1:47 pm

Image


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

The important part is to enter WITHIN 20 pips of the daily low. The RAT REVERSAL is only one entry method.

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

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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skivers
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Postby skivers » Fri Nov 12, 2010 2:00 pm

ajaymein wrote:
skivers wrote:
jlpk007 wrote:Got caught out twice.
:cry:

Waited for price to be within 20pip of low, bought on high of previous green candle..both trades are loser..What did i not see here..
I want to be green rat

ps:Pardon my poor english :oops:


Nice screenshot to discuss - Thanks

The first two greens you took were asking for trouble as the price was not seen to be reversing.

I would have taken the trade at about 1.3668 after the confirming higher highs - that's the fourth candle from the right where it broke the original green high. ( the candles are also not wanting to retest the 10 pip sweet spot line - the are opening and closing above it)

Remember. TRO said to wait until two candles close before jumping in - that means a 10 minute wait after each low (unless price is leaving the Rat Zone).

Wait to see price is reversing.

Now I will wait to find out how wrong I am
:wink:


I don't trade this method, but according to the rules, his 2 entries were perfect, and there is nothing wrong with them. He could have gotten out with a couple pips on the first one, but the 2nd was a dead loser. I'm sure on the 3rd entry, he would have gained back all of his losses, plus some.

Now if I were to trade this method, I would have taken the 3rd setup after a confirmation of higher lows and a momo green bar...but of course that would be thinking like a YALE student.


Rules are a guide - something to start with - To be successful you have to add your feel for the market.- a sixth sense that takes you beyond rigid rule observance.

As you have said the third set-up was tradable for the reason you stated. But I would still have waited :)

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ajaymein
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Postby ajaymein » Fri Nov 12, 2010 2:10 pm

skivers wrote:
ajaymein wrote:
skivers wrote:
jlpk007 wrote:Got caught out twice.
:cry:

Waited for price to be within 20pip of low, bought on high of previous green candle..both trades are loser..What did i not see here..
I want to be green rat

ps:Pardon my poor english :oops:


Nice screenshot to discuss - Thanks

The first two greens you took were asking for trouble as the price was not seen to be reversing.

I would have taken the trade at about 1.3668 after the confirming higher highs - that's the fourth candle from the right where it broke the original green high. ( the candles are also not wanting to retest the 10 pip sweet spot line - the are opening and closing above it)

Remember. TRO said to wait until two candles close before jumping in - that means a 10 minute wait after each low (unless price is leaving the Rat Zone).

Wait to see price is reversing.

Now I will wait to find out how wrong I am
:wink:


I don't trade this method, but according to the rules, his 2 entries were perfect, and there is nothing wrong with them. He could have gotten out with a couple pips on the first one, but the 2nd was a dead loser. I'm sure on the 3rd entry, he would have gained back all of his losses, plus some.

Now if I were to trade this method, I would have taken the 3rd setup after a confirmation of higher lows and a momo green bar...but of course that would be thinking like a YALE student.


Rules are a guide - something to start with - To be successful you have to add your feel for the market.- a sixth sense that takes you beyond rigid rule observance.

As you have said the third set-up was tradable for the reason you stated. But I would still have waited :)


I completely agree with you, but with the RAT METHOD, a sixth sense makes you a YALE student. I think rule #7 says if it isn't in the rules, it is of no concern.

Of course, every post of TRO says the rat reversal is only ONE entry method, so making it your own could lead to a lot more green pips then a regular rat. :wink:

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