2009.09.10 DRAIN THE BANKS - LIKE A RAT

[hopearisen]

HI TRO,
WOULD IT BE RIGHT TO USE GPS INFO TO SELECT PAIR AND TRADE OFF EXTREMES GIVEN PREFRENCE TO PAIR WITHIN(DAILY,WEEKLY AND MONTHLY)EXTREMES SHOWN IN GPS OR JUST KEEP IT TO DAILY EXTREM.
Appreciate your help.

[TheRumpledOne]

TRO,

With the inherent randomness of the market, How about just flipping a coin? Heads Long, Tails Short. I'm really serious. I'm curious about your thoughts and others on the forum.

Then just do a 1:2 risk/reward. I wonder what the statistics would show?

It would be better to go Long heads and NO TRADE tails.

That way, you can not always be wrong.

[TheRumpledOne]

The utter simplicity of this method finds me utilizing few if any of the indicators at this time, however this one provides a nice overall snapshot of what's goin on. Mahalo plenty for the help

It's TRO2011_MP_GPS, I believe.

That's kinda what it looks like to me too, but when I drop/drag onto my screen it (default) comes out lookin like this:

Put a "m", without quotes, in the myAddition input.

That should fix it.

[TheRumpledOne]

HI TRO,
WOULD IT BE RIGHT TO USE GPS INFO TO SELECT PAIR AND TRADE OFF EXTREMES GIVEN PREFRENCE TO PAIR WITHIN(DAILY,WEEKLY AND MONTHLY)EXTREMES SHOWN IN GPS OR JUST KEEP IT TO DAILY EXTREM.
Appreciate your help.

You can use daily, weekly and monthly extremes.

Just load a separate copy of the GPS for each time frame.

[Hawaiifive9]

The utter simplicity of this method finds me utilizing few if any of the indicators at this time, however this one provides a nice overall snapshot of what's goin on. Mahalo plenty for the help

It's TRO2011_MP_GPS, I believe.

That's kinda what it looks like to me too, but when I drop/drag onto my screen it (default) comes out lookin like this:

Put a "m", without quotes, in the myAddition input.

That should fix it.

Here are screen shots of what I'm getting with the"m"...

[Hawaiifive9]

GPD via Template...

[TheRumpledOne]

Try using just GBPUSD in the symbol line.

There may be a pair your broker doesn't use.

[TheRumpledOne]

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

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.

[TheRumpledOne]

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

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"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.

[vincentws]

Hi Avery,

I did not want to start a new thread just for this question, so I'm asking here.

Do you have an indicator which shows the statistics on how often the 3 Level in the 3 level ZZ Semaphore moves before it changes to another level?

I am having good success basically trading off of this and your Dynamic fibs, but I thought something like the buzzard indicator would be useful on the 3 Level.

Example:

3 Level set at 1.3800
set again at 1.3805
set a third time at 1.3808

after this third time it goes to another ZZ level.

this would yield a result of three. the indicator would have the stats for how often it is 1, 2, 3, etc... or something like that.

In your thoughts, would this be beneficial?, is there something which already does it?, is there another way to find the same information? or is it not even worth the effort to investigate?

Thanks,

Vincent