2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Thu Sep 15, 2011 1:51 pm

RunnrX wrote:Hi TRO,

I hope you don't mind my question -- I've got the 2011 Motherlode pack and am loving the indicators in it, but I have one question about your execution and trade management in the rat reversal trades

according to your interview with Tim Bourquin you said you had a plan A and a plan B

Plan A was to use inital stop loss of 10 pips, then if it goes up 5 set stop to +3, then if it goes up 10 stop goes to +5, and up 16 gets the stop to +10. From there I've decided to use a 5 pip trail stop for anything over 20 pips

So that's plan A, but you said plan B was to exit fully at 10 pips without using profit stops --- but under what conditions would you want to use plan B? Is there a PDF out there somewhere that explains this? Or could you please write a line back to tell me about it?

Thanks!

RunnrX



NO PDF.

You have a plan for normal conditions and a plan for fast market conditions and a plan for abnormal spikes.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Thu Sep 15, 2011 2:58 pm

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



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Postby MightyOne » Thu Sep 15, 2011 4:13 pm

TheRumpledOne wrote:This is funny, check out what the well respected trader, Sam Seiden, had to say this week:

http://www.tradingacademy.com/lessons/2 ... rticle.htm

"You see, this is where most people stumble. They don't go down the simple logic path we just went through. Instead, they buy a trading book that teaches them conventional Technical Analysis which is a very flawed school of thought. Or, they dive into the world of conventional Fundamental Analysis which has you buying when the news is good (at a high price) and selling when the news is bad (at a low price) which is a disaster for you, but a gift for those on the other side of your trades and investments."



Where have I heard that before?



Image

Just remember that you don't have to pay anyone to see what is right there on the chart:(lines are not exact as I misplaced my protractor)

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TheRumpledOne
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Postby TheRumpledOne » Thu Sep 15, 2011 6:40 pm

Image

THE RAT HAS NO FEAR!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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MightyOne
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Postby MightyOne » Fri Sep 16, 2011 5:46 am

I could have swore that I posted that picture as a link...
I'll try and correct the problem later, sorry it is so big.

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1992 DREAM TEAM
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Postby 1992 DREAM TEAM » Fri Sep 16, 2011 9:09 am

Image

Image

nickohorny
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Postby nickohorny » Fri Sep 16, 2011 4:01 pm

Hi Everyone!

I just have a question regarding mastering one currency as a beginner - I understand what you mean and there is no point swapping currency pairs to learn however what If I pick one currency - say GBP/USD and I am a green rat, each day I log when I can outside of work, and the low had already been established and so price is on the up - I am missing out on practicing execution and taking profit now as it is not coming back down, so now I'm on a currency that is basically not worth me watching today.. am I making sense? suppose all I am asking is how do I make sure I can get my practice to a maximum!

Oh and lastly - I have to work from 8am - 2pm LDN time, so what currency pair would you guys recommend I stick with and master to trade for after 2pm?

Thanks again

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TheRumpledOne
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Postby TheRumpledOne » Fri Sep 16, 2011 8:09 pm

EUR/JPY is actively traded around the clock.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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nickohorny
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Postby nickohorny » Tue Sep 20, 2011 1:22 pm

Hi, I have been searching through the motherlodes - which is the simple indi displaying the current price in a large font on the chart at the top centre?
I can't seem to find it after adding many to test to my chart.

Lastly - what is the name of the indicator showing current candle bar length counting down until next candle? Can't seem to find that either?

Thanks

nickohorny
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Postby nickohorny » Tue Sep 20, 2011 5:50 pm

Hi again, I am just having some problems with the indicators on my chart - if you see the pic you will see what I mean! If you could help answer my questions posted on my pic that'd be FAB! :P


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