2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Mon Nov 22, 2010 2:01 pm

KrystalSkull wrote:Thanks TRO for the wonderful indicators ..... love ya work, awesome job!

Questions:

If we are looking only to make maximum 5 trades per day and the first 3 trades are losers,

do we still make the next 2 trades on the same currency in order to try and catch the reversal,

or do you look for another pair of interest?

Also have you or anyone noticed if the odds are higher in sticking to one currency pair (per day)

even if the H1 bias turns against you, or again find a new pair that has the H1 bias in your favor?

at the same time trying to find a pair that is also above the daily and weekly open (if you are a green rat)?


The maximum 5 trades per day is where you start to go astray.

If you have 3 losing trades in a row. It's time to take a TIME OUT and regain focus. Obviously, you are not SEEING what price is doing in the moment. Instead, you are ANTICIPATING (incorrectly) what price will do in the future.

Wouldn't it be foolish to switch pairs AFTER 3 losses in a row when you "know" price will eventually move in your direction?

All you have to do is WAIT.

Can you do that?

Or should you be seeking admittance to Yale?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby KrystalSkull » Mon Nov 22, 2010 2:50 pm

OK got it! .... yep Yale question for sure!

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Postby ZEN » Mon Nov 22, 2010 3:20 pm

TheRumpledOne wrote:
KrystalSkull wrote:Thanks TRO for the wonderful indicators ..... love ya work, awesome job!

Questions:

If we are looking only to make maximum 5 trades per day and the first 3 trades are losers,

do we still make the next 2 trades on the same currency in order to try and catch the reversal,

or do you look for another pair of interest?

Also have you or anyone noticed if the odds are higher in sticking to one currency pair (per day)

even if the H1 bias turns against you, or again find a new pair that has the H1 bias in your favor?

at the same time trying to find a pair that is also above the daily and weekly open (if you are a green rat)?


The maximum 5 trades per day is where you start to go astray.

If you have 3 losing trades in a row. It's time to take a TIME OUT and regain focus. Obviously, you are not SEEING what price is doing in the moment. Instead, you are ANTICIPATING (incorrectly) what price will do in the future.

Wouldn't it be foolish to switch pairs AFTER 3 losses in a row when you "know" price will eventually move in your direction?

All you have to do is WAIT.

Can you do that?

Or should you be seeking admittance to Yale?


Absolutly wonderfull, absolutly wonderfull, pur zen! Thanks TRO!
Today it's better!

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TheRumpledOne
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Postby TheRumpledOne » Mon Nov 22, 2010 6:51 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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Postby TheRumpledOne » Mon Nov 22, 2010 7:00 pm

ZEN wrote:Absolutly wonderfull, absolutly wonderfull, pur zen! Thanks TRO!


BE THE LEAF!

http://www.youtube.com/watch?v=XK_4Z5DZcNM
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby maddman » Mon Nov 22, 2010 10:51 pm

Go With The Flow...

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Postby wkestler » Mon Nov 22, 2010 11:05 pm

TRO, What does the red arrow means in your last chart?

Thanks,

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Postby TheRumpledOne » Mon Nov 22, 2010 11:09 pm

The Red Arrows are RED RAT REVERSALS.


RED RAT REVERSAL - SHORT ENTRY CRITERIA: 1) GREEN CANDLE CLOSES 2) RED CANDLE CLOSES 3) PRICE TOUCHES LOW OF PREVIOUS RED CANDLE - ENTER SHORT. STOP LOSS IS ALWAYS 10 PIPS.


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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Postby PebbleTrader » Tue Nov 23, 2010 12:49 am

"We look backward too much and we look forward too much; thus we miss the only eternity of which we can be absolutely sure - the eternal present, for it is always now." - William Phelps

NOW is the only moment that matters!
Life is just a journey

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Postby Naynay » Tue Nov 23, 2010 1:59 am

OK, now here's a question.

On your last chart TRO, why didn't you take the earlier break of the first green candle after the large red candle down and the subsequent red candle?

I can think of a few reasons (not yet in the daily rat zone, wait for some downwards triangular consolidation before breakout)
Just wondering what your take on it was...

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