2009.09.10 DRAIN THE BANKS - LIKE A RAT

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buddygold
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Postby buddygold » Wed Feb 09, 2011 1:58 am

Kind of like a riddle. Sorry, but I don't get it. Do you need the chart from above with the clOp - HiCl - Cllo

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TheRumpledOne
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Postby TheRumpledOne » Wed Feb 09, 2011 2:21 am

Why you should have an Exit play book:

http://www.nytimes.com/2006/10/27/sport ... mp;emc=rss
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 3:37 am

TheRumpledOne wrote: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.


DRAIN THE BANKS - LIKE A RAT


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.

4) Enter long at the green candle's high price

5) STOP LOSS IS 10 PIPS

6) Take whatever profit you can.

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


Hi TRO,

You have mostly posted examples with M5 charts. Are the rules more applicable for M5 chart, or also for higher timeframes like H1 or H4? If we use a higher timeframe, are we supposed to do the same as M5 to enter from the high/low of the H1 or H4 (not M5) reversal candle and similarly setting 10 pips as stop loss? I hope to know what your opinion is if you do not regard my questions as irrelevant. Thanks.

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TheRumpledOne
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Postby TheRumpledOne » Wed Feb 09, 2011 1:35 pm

Image

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

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

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

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

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

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

THINK ABOUT IT!!

MAXIMUM RISK = 2% * ACCOUNT BALANCE.

STOP LOSS = 10 PIPS. (INCLUDING SPREAD)

POSITION SIZE = RISK / STOP LOSS.

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

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.

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

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 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.

Please add www.kreslik.com to your ad blocker white list.
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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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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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TheRumpledOne
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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!



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