2009.09.10 DRAIN THE BANKS - LIKE A RAT

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maddman
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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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Postby jlpk007 » Sun Nov 21, 2010 5:34 am

TheRumpledOne wrote:
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.


Got it :lol: will continue to practise..thank you TRO

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TheRumpledOne
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Postby TheRumpledOne » Sun Nov 21, 2010 4:21 pm

maddman wrote: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..




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.


You really want to go to Yale, don't you?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby maddman » Sun Nov 21, 2010 6:52 pm

Tro, Question: when you say:
"3) green candle closes - note the high price of the green candle." when do I take the trade upon the open of the new candle? And off what time frame? Also suppose the new candle is red, is that a no-go?

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Postby TheRumpledOne » Sun Nov 21, 2010 8:20 pm

3) I use the M5 chart.

The trigger line stays in effect until a new trigger line is established.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby MAXiMUS_ » Sun Nov 21, 2010 9:41 pm

Hiya TRO,

My only question for you is :
( because we all already know when should we enter the trade) You said that we should take whatever we can and close the trade...

Your entries have very big potential sometimes for 10-20pips, but as I trade "RAT reverse" from maybe more than 6 months, I can see that many many times price is just doing 3 pips in direction od profit and then suddenly is going against you more than 10pips you have in stop loss.
sometimes only touching your stop and going back in direction of profit.

My question is: if price is going in direction of profit how do you determine to stay in trade or to keep position even if price stopped for a while or moved a bit back ?
Can we just focus on exits for a while please? I think that most of us who trade real money with ECN already know entries...

Thank You TRO

Best regards
"It is stupid to fight a battle that you cannot win, and you cannot win unless you have properly planned for it". - Sun Tzu, The Art of War

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Postby ajaymein » Sun Nov 21, 2010 11:12 pm

If you can take 3 pip every time, isn't that more than enough? Maybe, try setting your sl to break even at 3 pips then exiting when a 1m or 30sec chart makes a higher high or lower low in the opposite direction.

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Postby TheRumpledOne » Mon Nov 22, 2010 1:37 am

I have mentioned and posted my EXIT PLAY BOOK.

You need to develop your own EXIT PLAY BOOK.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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