2009.09.10 DRAIN THE BANKS - LIKE A RAT

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MightyOne
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Postby MightyOne » Sat Oct 10, 2009 10:31 pm

All I need is one more bar in the code :wink:

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zulemara
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Postby zulemara » Sat Oct 10, 2009 10:45 pm

but your screenshot illustrates my point. Look at the DD from the trigger to the lowest point, and then in the direction it was supposed to go. Both the sell and buy signals had a DD larger than 10 pips.

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MightyOne
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Postby MightyOne » Sat Oct 10, 2009 10:52 pm

zulemara wrote:but your screenshot illustrates my point. Look at the DD from the trigger to the lowest point, and then in the direction it was supposed to go. Both the sell and buy signals had a DD larger than 10 pips.


1. This is a 6 hour chart (TRO uses a 5 minute)
2. I use 10 pips w/ trade through
3. There is always the next bar
4. Where there is a will there is a way ;)

zulemara
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Postby zulemara » Sat Oct 10, 2009 10:54 pm

so you let it hit SL, then reset the trigger again? I suppose I could do that, it's just more micro managing

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adaseb
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Postby adaseb » Sun Oct 11, 2009 10:04 am

Anyone here playing this method live?

Any tips?

From what I noticed it seems like a good way to get about 10 pips or so. 20 pips might not always be granted and might stop you out.

10 pip SL also seems too tight, a 15 pip seems better.

So hopefully the win rate is much higher with a 3/2 risk-reward ratio.

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Postby Beej » Sun Oct 11, 2009 11:05 am

Having spent quite a few hours pouring over the charts and seeing if I can tie them in with the way that I trade and on paper I can see an extremely profitable system on the 1h timeframe which is where I prefer to trade..

So here goes..
Only ever trade away from the sema 3/2...
If trading short wait for two greens and a red then trade a few pips blelow the red, set stop loss a few pips above the most recent swing high. Remember your stop loss should be where you do not expect the market to go. Don't go mad though.
Take profit is 2 x SL unless another sema appears then tighten profit margins and just take what the market is offering.

Do the opposite for long trades.. If signal candle is very small ie less than 15 pips then widen it a bit, on the one hour charts you have to give the market it's breathing room. This is not a method I'd recommend on the lower time frames due to their very nature.. But seems to do quite well on 1Hr plus time frames.

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Postby zulemara » Sun Oct 11, 2009 2:24 pm

I like your idea on the Sl being at the swing high or low. However, I don't entirely agree with not trading by the semas. If a sema is formed and the price has retraced 20 pips, then approaches the height of the sema, it's possible a breakout could occur and that will yield a lot of pips. My most successful trades have been on breakouts. I require teh proper candle setup, the 20 pip range of the high/low, and then I look at the sema and the 1h and maybe 4h and daily trends.

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Postby Beej » Sun Oct 11, 2009 2:52 pm

Zulemara, I'm not sure what you are saying, I am trading the sema's, IE if I get a sema 3 on a high candle I wait until I get two greens and then trade the bottom of the next red.. My SL on this trade would then be the high of the sema 3 candle if it happened straight away or the swing high if a while after the sema 3.. I've done some checking on this and the SR is very good not to mention the pip profit.. :)

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Postby zulemara » Sun Oct 11, 2009 2:55 pm

I was saying I don't always trade away from the sema. If a high 3 sema forms and the price then retraces, then I get a red green candle setup, I will place a pending buy towards the sema. I have had second breakouts occur, forming a new high and a new sema. Lots of pips on those.

I will also do the opposit and trade away from the sema. Basically I make sure the price is within 20 pips of the high or low and trade whatever candle setup I am given.

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More Confusing With Every Post

Postby oldmangeezer » Sun Oct 11, 2009 9:52 pm

The Rat or "Got Cheese" trades are more confusing. From what I understand (and correct me if I'm wrong) you are either a RED Rat (seller) or a Green Rat (Buyer). It's best to be only one.

1. How do you determine by looking at the chart(s) if you should be a RED or GREEN Rat? Is it based on the 3 semafor on the 1 hour chart or 5 minute chart? Do you look for a 3 semafor on the 1 hour chart first? Should you base your RAT preference on the Daily or Weekly chart in the direction or trend of that particular currency pair?

2. What donational indicator gives you a signal that a Green Rat or Red Rat is about to occur? Is there one available??

If someone would be so kind to create a pdf with accurate instructions would be very beneficial.

Thanks!!

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