2009.09.10 DRAIN THE BANKS - LIKE A RAT

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Luy225
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Postby Luy225 » Fri Mar 04, 2011 5:42 am

TheRumpledOne wrote:I have not posted my exit play book.

I have posted how to create your own.
Would you be so kind and post your exit play book?

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TheRumpledOne
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Postby TheRumpledOne » Fri Mar 04, 2011 6:34 am

NO.

Traders must create their own exit play book. It is simple.

No one but YOU, knows your risk level.

No one but YOU, knows how greedy you are.

Using my exit play book may or may not work for you.


Trading is GUESSING. If it wasn't, you wouldn't need a STOP LOSS. THINK ABOUT IT!!
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 » Fri Mar 04, 2011 6:40 am

A few pages ago, someone posted:

TRO's Exit Playbook

AT +5 pips, I will be ready to bail at +3 if price pulls back. (Incorporating this one rule will turn your trading around.)

At +10 pips, I will enter a trailing stop of 4 or 5 pips.

At +15, I will cancel the trailing stop and enter a hard stop at +10.

Then I will move the hard stop up if price moves up.

At +25, I may move the hard stop up to +25 or to a price ending in 0 or 9.

Sometimes, I may exit 1/2 of my position at +20 to lock in a 1% gain.


Basically, you need to know EXACTLY what to do for each of the first 20 pips price moves in your favor BEFORE you enter the trade.

At entry, I will set my stop loss at ______

At entry + 1 pip I will ______

At entry + 2 pips I will ______

At entry + 3 pips I will ______

...

At entry + 20 pips I will ______
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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2 xrismak
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Postby 2 xrismak » Fri Mar 04, 2011 9:48 am

Ok Tro,
I feel you !

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TheRumpledOne
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Postby TheRumpledOne » Fri Mar 04, 2011 1:07 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!



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TheRumpledOne
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Postby TheRumpledOne » Fri Mar 04, 2011 1:46 pm

Image

HAPPY NFP DAY!

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

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.

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

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!!

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

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.

ewcraigs
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Rat Reversal vs other methods

Postby ewcraigs » Fri Mar 04, 2011 2:15 pm

TRO

You mention that Rat reversal is only one method. I understand that with the Rat method the trader should choose green OR red and stick with it.

But, with the other methods, do you take on both long and short positions, or just stick with the one sided way of trading?

I have listened to your older interviews and you mentioned that you did trade long and short. I am guessing that somehow your view has changed since that point. What changed your viewpoint and why?

Thanks

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Postby TheRumpledOne » Fri Mar 04, 2011 3:35 pm

You are either a RED RAT, a GREEN RAT or a Yale student.

I am a GREEN RAT. The method does not change that.

Learning about the RAT changed my views.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby rat » Fri Mar 04, 2011 4:37 pm

TRO says :

DO NOT TRADE AGAINST THE H1 CANDLE COLOR.

But the H1 candle bias repaints ??

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Rat Reversal vs other methods

Postby ewcraigs » Fri Mar 04, 2011 5:07 pm

TRO,

What is the concept besides only being green OR red? Do you stand to lose more if you play both sides? Or, is it more of a mindset?

If something is "trending" down, do you still play the small swings that are usually present in a "downtrend".

Thanks

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