2009.09.10 DRAIN THE BANKS - LIKE A RAT

[Hawaiifive9]

Aloha again ya'all

Well, I just finished reading DTB, and the first thing I'm gonna do is read it again. I.C.F.B.I. (I can't freakin' believe it)...all these years, all those dollars, countless hours in webinars & in front of a computer screen, and the simplicity of the whole trading arena has been "hiding" in plain sight all along.
I'm not a fan of reading by ANY stretch of the imagination, but this forum has been fascinating. It makes me laugh to think not only of the repetitious delivery TRO utilizes to guide one toward the light (so one can "see it" and "get it"), but also how "embarrassing" it was (for me at least) once the realization sets in that I never saw it before. Kinda like - I always knew it...but.

The indicator thing is pretty cool. I'm more comfortable not using them, but there are a few that really help me out in a time saving sort of way (multiples).

I am kinda uncertain about a couple o' things. I somehow got to this forum via the Never Lose Again on FF. A little way into that one & I knew this was just gonna kick arse. Anyway, within the first dozen or so pages of this one, someone makes mention of "following the rules" (H1 candle color etc) --- as though there has previously been a certain amount of discussion regarding the same. Another example of a topic being discussed as though it's been around is the semafor indicator. I don't recall either of these two concepts being introduced / discussed / explained in this thread. Sooooo - is there what might be called a "starting point" forum / thread that would be advisable to read before I continue / as I continue down this rabbit hole?

I sincerely hope you folks realize what has been laid before you...this is just way too cool - kewel

And of course - what would the YIN be without the Yang. The "haters" grumbling about whatever in the hell they're grumbling about with marketing yada yada yada. And then the revered folk making $$$ from the forum - not trading...bless your little hearts - you had me fooled. I thought the whole purpose was to provide as much assistance as possible for those of us entering an environment where having an EDGE is a necessity. Yes - there is a value for that service, and it appears there are those that are gonna make damn sure they are in a quid pro quo position.

The donational concept presented by TRO is as classy as his delivery. That HAS to be pissing a lot of people off, but one has to ask who those people really want to see succeed. ME ??? I plan on donating as I see fit - indicators or not. We are fortunate enough to have someone willing to take the time, and the last I heard, time is money. My donations don't even come close to being reluctant

And yes, there will be losing trades - get over it. I.C.F.B.I. --- and I just LOVE IT!!!

IT'S CALLED TRADING - NOT WINNING

Mahalo Plenty for any and all help...

[furao]

testing:)

[furao]

Now I'm sure that you will see what I would like to add to the topic:)

I've been reading DTB for some time, great idea first to say - simple, short and reliable for those who managed to understand it fully and what is more important: learn and practice, because practice is the key to success in my opinion...
As for my experience - I'm not able (so far) to use m5 range(too many wrong entries, problems with exits, rapid movements etc.), 15m signals are much more reliable, but on the other hand they tend to generate bigger than 10 pips losses (and in some cases I needed to make bigger than 10p SL not be "kicked" out ), well in overall there is much to work on...but to the point

I observed during entries, that after a signal on 15m chart (the second candle before it closes is at least 1 pip bigger than the first one indicating the reversal - as given in rules) no matter the price goes further or it goes back towards daily high/daily low it often gets to the level of signal on 5m chart (two windows with 15m and 5m chart would be needen at the same time) and rebounces again in proper direction

You may say...why taking such sophisticated pattern if much simpler works:) I'm not saying that it's not, what I'm just wondering if such pattern is not giving more pips and more reliable trades, and I'm wondering if it would be possible to write some kind of script to test such issue and it's probability on historical data - there is a signal on m15, waiting for rebounce to the level of signal on m5 range, then S or L, s/l let's say 10 pips, everything within 20 or 30 pips of daily high/low (I suppose the boundary terms have to be more exact). I'm not even in 1% skilled in writing such things, that's why this post appeared:) if you have any thoughts and remarks on what I have just written, feel free to throw tomatoes:P thanks in advance

[furao]

Now I'm sure that you will see what I would like to add to the topic:)

I've been reading DTB for some time, great idea first to say - simple, short and reliable for those who managed to understand it fully and what is more important: learn and practice, because practice is the key to success in my opinion...
As for my experience - I'm not able (so far) to use m5 range(too many wrong entries, problems with exits, rapid movements etc.), 15m signals are much more reliable, but on the other hand they tend to generate bigger than 10 pips losses (and in some cases I needed to make bigger than 10p SL not be "kicked" out ), well in overall there is much to work on...but to the point

I observed during entries, that after a signal on 15m chart (the second candle before it closes is at least 1 pip bigger than the first one indicating the reversal - as given in rules) no matter the price goes further or it goes back towards daily high/daily low it often gets to the level of signal on 5m chart (two windows with 15m and 5m chart would be needen at the same time) and rebounces again in proper direction

You may say...why taking such sophisticated pattern if much simpler works:) I'm not saying that it's not, what I'm just wondering if such pattern is not giving more pips and more reliable trades, and I'm wondering if it would be possible to write some kind of script to test such issue and it's probability on historical data - there is a signal on m15, waiting for rebounce to the level of signal on m5 range, then S or L, s/l let's say 10 pips, everything within 20 or 30 pips of daily high/low (I suppose the boundary terms have to be more exact). I'm not even in 1% skilled in writing such things, that's why this post appeared:) if you have any thoughts and remarks on what I have just written, feel free to throw tomatoes:P thanks in advance

[TheRumpledOne]

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

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

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.

3) The TRAINING WHEELS only signals LONG trades ABOVE the weekly open and SHORT trades BELOW the weekly above. This bias keeps beginning traders, as well as experienced traders, out of trouble.

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

[TheRumpledOne]

furao:

Not sure what you are talking about. M5 vs M15. There's a chart with both candles on it. Remember, you are trading PRICE not charts and PRICE IS THE SAME ON ALL CHARTS.

[furao]

Maybe I didn't make it clear enough...I know that the same chart consists of 1M, 5M, 15M 30M and so on candles - it's obvious, what I mean is that after the signal on 15M candles (which is always lower / higher than signal on 5M candles that appears sooner but is less reliable for me) very often price goes back to the area where signal on 5M candles appeared, and if it's to go in proper direction it is very clear move without ups and downs, in many cases there was a possibility to catch the height of the move, like for example today on cable and eur/usd today...

[TheRumpledOne]

"and if it's to go in proper direction it is very clear move without ups and downs,"

Only in HINDSIGHT!!

[TheRumpledOne]

If M5 is NOT working for you. Maybe H1 will work better for you.

Very simple - Enter the trade in the RAT ZONE but NEVER trade against the H1 candle color. And yes, the H1 color may switch from green to red after you are in the trade. Remember - THIS IS TRADING - ANYTHING CAN HAPPEN!

[TheRumpledOne]

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

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

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.

3) The TRAINING WHEELS only signals LONG trades ABOVE the weekly open and SHORT trades BELOW the weekly above. This bias keeps beginning traders, as well as experienced traders, out of trouble.

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