2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Wed Feb 09, 2011 1:49 pm

Image

Someone asked about trading time frames other than M5.

PRICE IS THE SAME ON ALL CHARTS. You are NOT trading charts, you are trading price.


<-------------------------------------------------------------------->
DRAIN THE BANKS - LIKE A RAT

for H1 (60 MINUTE) CHARTS.

1) Price within 20 pips of the daily low - that is OPPORTUNITY

2) Red H1 candle closes within 20 pips of the current daily low

3) Go long when current H1 candles is green

4) STOP LOSS IS 10 PIPS

5) Take whatever profit you can.

6) If the rules do not mention it, then it is of no concern.


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

MAXIMUM RISK = 2% * ACCOUNT BALANCE.

STOP LOSS = 10 PIPS. (INCLUDING SPREAD)

POSITION SIZE = RISK / STOP LOSS.

This is how you make 2% per day.
<-------------------------------------------------------------------->

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

Today, I am using the MO REVERSALS indicator that I coded.

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

Trading is GUESSING. If it wasn't, you wouldn't need a STOP LOSS.

THINK ABOUT IT!!

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

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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pika
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Postby pika » Wed Feb 09, 2011 2:19 pm

TheRumpledOne wrote:Image

Someone asked about trading time frames other than M5.

PRICE IS THE SAME ON ALL CHARTS. You are NOT trading charts, you are trading price.


<-------------------------------------------------------------------->
DRAIN THE BANKS - LIKE A RAT

for H1 (60 MINUTE) CHARTS.

1) Price within 20 pips of the daily low - that is OPPORTUNITY

2) Red H1 candle closes within 20 pips of the current daily low

3) Go long when current H1 candles is green

4) STOP LOSS IS 10 PIPS

5) Take whatever profit you can.

6) If the rules do not mention it, then it is of no concern.


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

MAXIMUM RISK = 2% * ACCOUNT BALANCE.

STOP LOSS = 10 PIPS. (INCLUDING SPREAD)

POSITION SIZE = RISK / STOP LOSS.

This is how you make 2% per day.
<-------------------------------------------------------------------->

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

Today, I am using the MO REVERSALS indicator that I coded.

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

Trading is GUESSING. If it wasn't, you wouldn't need a STOP LOSS.

THINK ABOUT IT!!

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

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.


Thank you TRO. So for H1 and above timeframes, we do not enter at the high/low wicks of the green/red reversal candle as in M5, but within the body of the reversal candle inside the 20 pips zone.

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TheRumpledOne
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Postby TheRumpledOne » Wed Feb 09, 2011 8:36 pm

Pika:


The important part is to enter WITHIN 20 pips of the daily low.
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.

pika
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Postby pika » Wed Feb 09, 2011 10:42 pm

TheRumpledOne wrote:Pika:


The important part is to enter WITHIN 20 pips of the daily low.

OK, thanks.

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Postby buddygold » Thu Feb 10, 2011 12:38 am

Do the chart times make a difference (when the new daily candles start)

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Postby TheRumpledOne » Thu Feb 10, 2011 1:43 am

Daily start time is dependent on your broker.

But it doesn't really make a difference as far as THE RAT is concerned.
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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BIG pirate Joke

Postby genlogins » Thu Feb 10, 2011 8:08 am



When I moved to that time frame................

BUMMMMMMMMM................. NEW VIRUS.........................

I thought I was seeing a new virus. What should I do? (I said)

Switched my Internet Off, and than turned to M1 again.

Than, Back on again.

UUUUFFFFFFF.......... it was just a

BIG Pirate (TRO) Joke......................
================================================

The Way To Money Is Using Simplicity And Take Small Loses

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

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Postby buddygold » Thu Feb 10, 2011 12:27 pm

AHA I got it - genius - I get that the time frame doesn't matter but which one do you find best to use
thanks again

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Postby buddygold » Thu Feb 10, 2011 12:42 pm

one thing, on my rat zone indicator (shaded area) it is only 5 pips?

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TheRumpledOne
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Postby TheRumpledOne » Thu Feb 10, 2011 2:45 pm

genlogins: That's not a joke. That is IDIOT MODE. Some people didn't understand when NOT to enter.

buddygold: change the input trigger to 20.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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