2009.09.10 DRAIN THE BANKS - LIKE A RAT

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MightyOne
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Postby MightyOne » Mon Sep 05, 2011 1:31 pm

You trade off of a daily extreme w/ a 5-15 minute chart.

It is also possibe to trade the minute chart, but on those charts it is optional & often a waste of time to wait for a chart pattern BO; you should just short w/ in 20 pips from the high if you believe the house of cards will fall.

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Postby PebbleTrader » Mon Sep 05, 2011 10:57 pm

PipNISEZ,

EXPLORE through the different time frames and REDUCE RISK in each one, until you find yourself in the smallest time frame you are willing to trade.
Life is just a journey

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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 06, 2011 4:21 am

PipN8EZ wrote:Traders, I've noticed Tro last post used a daily chart up, is that what you suggest to use? I'm just starting and trying to figure this method out, and could use all the help I can get on it... Please throw me your suggestions... :shock:


I used a D1 chart to answer a question.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 06, 2011 7:55 pm

Image

GREEN RATS and RED RATS both made money.

Who knows what the Yale students did?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Fri Sep 09, 2011 1:43 pm

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

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 Sep 09, 2011 5:30 pm

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PATIENCE!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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paupau
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Postby paupau » Mon Sep 12, 2011 11:30 pm

Hi TRO,

Am I looking at your chart correctly?
It's within 20 pips of daily low, but all H1, D1, W1 are showing SHORT.
And you entered around 105.490?

Image

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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 13, 2011 10:16 pm

105.49 was the last best entry price.

If you traded from that level, you could have made 10 or more pips 3 times.

I am not sure why you said a stop loss would be triggered?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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paupau
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Postby paupau » Tue Sep 13, 2011 10:40 pm

TheRumpledOne wrote:105.49 was the last best entry price.

If you traded from that level, you could have made 10 or more pips 3 times.

I am not sure why you said a stop loss would be triggered?


This was based on your Exit Playbook that I saw previously

"
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.

"

From the chart, the price went up about 20 pips (not incl. spread) on the second green bar and went back down to the entry price.
So by using your exit playbook, if the price has reach +15 pips but below +20 pips your SL will be at +10, which will be triggered on the first red bar, or even from the second green bar.


How do you made 3 times 10 or more pips from the chart?
Because I only see one entry opportunity, all the others are above the 20 pips daily low.

Thanks Tro.

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Postby TheRumpledOne » Wed Sep 14, 2011 9:14 pm

If you entered at 105.49, you could have had 3 trades.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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