2009.09.10 DRAIN THE BANKS - LIKE A RAT

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skivers
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Postby skivers » Sat Nov 20, 2010 12:24 pm

cosmoe1 wrote:
as you can see from this shot I do not get winners 100% of the time. lost 10 pips on first trade. closed out 2nd trade +20 pips.

losing is just part of trading.

cos


Nice trading cosmoe1.

Looking at your chart has made a light bulb come on.

A green rat is trying to pick the reversal - so you would need more evidence than a red rat - as the momentum is with the reds.


On your first trade, waiting until a candle closed above the 10 pip sweet spot would have been a better signal.

What I am trying to say is - two (or one) candles would form a bridge over two sweet spot lines.

The lower wick of the first candle, can be just that - a wick. (we are looking for price to be rejected.)


But the reversing green trigger candle should ideally close above the next sweet spot line - Therefore clearly signalling a price reversal.

Otherwise price could just be pivoting over a line. (it was)

The second trade trigged at about 1.5955 nicely illustrates what I am trying to say

BTW I am not saying I am correct - it's just an observation that might help me in my own trading. (Up to now I have been happier taking red rat reversals with the trend - and have not been consistent at identifying a 20 pip reversal zone - so this has helped)
Last edited by skivers on Sat Nov 20, 2010 12:40 pm, edited 1 time in total.

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TheRumpledOne
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Postby TheRumpledOne » Sat Nov 20, 2010 3:05 pm

jlpk007 wrote:Hi TRO,

I understand you always mentioned 10 pips stop loss. does that apply to all time frame?
Be it M15,M30 H1 , h4 etc?

I have been trading EUR/USD M15..sometime i freak out and take a 3-4 pips profit...then my next trade blew it with a 10 pips loss...

Thank You



PRICE IS THE SAME ON ALL TIME FRAMES!!!


When are traders going to learn this?

The only true chart is the 1-tick chart.

ALL THE REST ARE DATA COMPRESSION!!

10 pip is the stop loss.
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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maddman
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Postby maddman » Sat Nov 20, 2010 5:33 pm

TRO, (1.) does a valid rat reversal always take place in the Rat Zone? (2.) and within 20 Pips of the low or High? Explain Please...

cosmoe1
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Postby cosmoe1 » Sat Nov 20, 2010 6:17 pm

one thing I learned from Tro is: Stop thinking so much, and just react to price.

Cos

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Postby maddman » Sat Nov 20, 2010 7:05 pm

What is the reason a Green signal goes off for the 1m, 5m, 15m, 1h, 4h, d, w, m multi-meter indicator ? I mean what is it based upon moving averages, or what? If so What MA?

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Postby TheRumpledOne » Sat Nov 20, 2010 11:44 pm

maddman wrote:TRO, (1.) does a valid rat reversal always take place in the Rat Zone? (2.) and within 20 Pips of the low or High? Explain Please...



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



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TheRumpledOne
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Postby TheRumpledOne » Sat Nov 20, 2010 11:45 pm

maddman wrote:What is the reason a Green signal goes off for the 1m, 5m, 15m, 1h, 4h, d, w, m multi-meter indicator ? I mean what is it based upon moving averages, or what? If so What MA?


Which multi meter are you talking about? I have coded over 100!!

If you are talking about the candle color multi meter... that one shows the candle color for each time frame.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby maddman » Sun Nov 21, 2010 2:18 am

TRO, where do I find the Top Wick/Bottom Wick thing?

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Postby maddman » Sun Nov 21, 2010 2:22 am

I was looking for the 2009 Multi_Meter_Candle_Color

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Postby maddman » Sun Nov 21, 2010 2:56 am

Tro, is there anything to be watchful for or that may indicate a RAT REVERSAL was about to or could take place? If so what would that be? And based upon what information? Eg: MA, Momentum etc..

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