2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Wed Nov 24, 2010 2:28 am

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

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MightyOne
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Postby MightyOne » Wed Nov 24, 2010 5:45 am

MAXiMUS_ wrote:Hiya MO, Good to see you here.

ZL tread was great and I hope maybe you can describe your way for exits?

TRO used to repeat constantly how to determine entry but about exit just mentioned once as he wrote while ago.
For guy who talked about taking just 3 pips...
3 pips TP is unacceptable if you know that RAT rev entries 2 of 3 are succesfull so 2 entries profit 6 pips 1 sl loss 10 pips. You can trade like this on demo account but in real trading this cannot be seriously taken.


Most traders are weak when it comes to exits...

there are three things that I definitely do not believe in:

1. Price "stalling"

2. stops

3. moving stops.

There is so much cowardice out there that a bit of courage will do anyone a lot of good.

This is what I recommend:

Always take the greatest amount of profit offered to you.

If you were at +3.7 pips and are now sitting at 2.7 pips then set a limit order for 3.7 pips.

If your greatest profit was 12 pips then set an order for 12 pips.

If you saw +20, you didn't want to take it, and price spikes to +37 and drops 10 pips then set an order for +37 pips.

The reason I say this is that most of the time you will exit too early as there is only 1 highest high and 1 lowest low.
Just because price retraced and you are scared that you are going to give everything back that does not mean that your top and bottom picking skills have magically sharpened.

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paupau
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Postby paupau » Wed Nov 24, 2010 6:43 am

Can anyone tell me why I shouldn't have taken this trade?
Image

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Naynay
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Postby Naynay » Wed Nov 24, 2010 6:46 am

Isn't the hourly, weekly, and daily bias short?
I think we've covered this already. I also think TRO will have to cut and paste stuff again. :p

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MightyOne
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Postby MightyOne » Wed Nov 24, 2010 11:53 am

paupau wrote:Can anyone tell me why I shouldn't have taken this trade?
Image


What does your trading plan say?

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TheRumpledOne
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Postby TheRumpledOne » Wed Nov 24, 2010 2:00 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.

<-------------------------------------------------------------------->

ALL YOU NEED TO KNOW ABOUT TRADING

* Price either goes up or down.
* No one knows what will happen next.
* Keep losses small and let winners run.
* POSITION SIZE = RISK / STOP LOSS
* The reason you entered has no bearing on the outcome of your trade.
* You can control the size of your loss (skill) but you can't control the size of your win (luck).
* You need to know when to pick up your chips and cash them in.

Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss)
You can not control the probabilities of wining or losing.


You can not control your average win size.


The only part of the equation of the equation that you can control is your average loss size.
<-------------------------------------------------------------------->

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 Nov 24, 2010 2:03 pm

paupau wrote:Can anyone tell me why I shouldn't have taken this trade?
Image


What color was H1, D1 and W1 at entry time?

Just because the trade was a "loser" doesn't mean you should not have taken it!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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tacoman
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Rat Swimming

Postby tacoman » Wed Nov 24, 2010 2:19 pm

Okay, think I got it right today at least (demoing)
Following W1,D1 and H1


Entry wasn't brilliant but got some pips.
Rob

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TheRumpledOne
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Postby TheRumpledOne » Wed Nov 24, 2010 2:27 pm

Image


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

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

<-------------------------------------------------------------------->

Choose Your Advice Carefully


Since your mind is your most valuable asset and your most valuable lever, you need to be careful what you put in it. Sometimes it is even more difficult to get rid of thoughts and ideas that are already in your mind than it is to learn something new - Pg 119 WHY WE WANT YOU TO BE RICH


F - Follow
O - One
C - Course
U - Until
S - Successful

- Pg 110 WHY WE WANT YOU TO BE RICH

If the rat is beating you, you are the reason why.

<-------------------------------------------------------------------->


"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 Nov 24, 2010 6:00 pm

Image

Some days are better than others...LOL!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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