2009.09.10 DRAIN THE BANKS - LIKE A RAT

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nickohorny
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Postby nickohorny » Thu Oct 27, 2011 5:09 pm

Hi guys

I was just doing some chart observation recently and noticed that the RAT_PLOT method works a hell of a lot.. Take the posted chart, red bar close - green bar close - note high price of green - go long.

Not being greedy it seems you can hit 1 or 2 pips often anywhere on the chart. Obviously if filtering with the H1 and D1 bias then results would be better.. but if i wanted 10 pips per day, is this achievable do you think? literally sweeping for 1 pip ten times then shut down for the day?

What do you think? am I being completely naive thinking it's achievable or is trying to aim for such small pips like this often doomed to fail in the long run due to the risk/reward involved?

I was thinking use the same approach as we do for the rat reversal in the 20 pip zone, keep 10 pip stop, soon as price goes to +1 adjust to BE, then wait for a profit target of +2 pips. 5 of them a day would be nice?.

Thanks for the help.


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TheRumpledOne
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Postby TheRumpledOne » Fri Oct 28, 2011 5:24 am

You are thinking too much!

Do you want to go to Yale?
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 Oct 28, 2011 12:43 pm

Image


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1) Price within 20 pips of the daily low (ClLo < 20) - that is OPPORTUNITY

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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 Oct 28, 2011 2:38 pm

Image

More cheese for green rats.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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SusieQT
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Postby SusieQT » Fri Oct 28, 2011 10:54 pm

I signed up here just to say THANK YOU TRO!!!
I have listened to an interview of yours and been reading. My first attempts were futile, but this week I finally saw and understood at how simple and easy this is!

Kudos to you for putting up with such nay sayers online, and keep up the great work!!


:P

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Postby TheRumpledOne » Mon Oct 31, 2011 5:09 am

Welcome aboard, SusieQT!

Please explain what you SEE in your own words so others may benefit.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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nickohorny
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Postby nickohorny » Mon Oct 31, 2011 10:31 am

TheRumpledOne wrote:You are thinking too much!

Do you want to go to Yale?


Ha! No I do not :)

I am just looking for ways to make sure I CAN take some trades daily and practice... Don't get me wrong - I do not want to be impatient and force any trades, and I am trying to only focus on a couple of pairs as am new to this. But am struggling to get any trades align with rule of thumb (with the H1 and above W1)

Can be difficult for them to setup. Basically if the H1 is red and I am a green rat (H1 will usually be red if approaching the LOW of day) then we are in need of the time to be approaching a new hour so as it will hopefully turn green whilst still within 20 pip zone... so suppose what I am saying is - if we are in 20 pip of low and it's say 2.30pm, then we won't get a chance to GO WITH the H1 (usually)

So just looking for alternative ways to make 10-20pip a day..

Is this a good application for Yale? lol

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Postby Xwing76 » Mon Oct 31, 2011 1:02 pm

nickohorny wrote:
TheRumpledOne wrote:You are thinking too much!

Do you want to go to Yale?


Can be difficult for them to setup. Basically if the H1 is red and I am a green rat (H1 will usually be red if approaching the LOW of day) then we are in need of the time to be approaching a new hour so as it will hopefully turn green whilst still within 20 pip zone... so suppose what I am saying is - if we are in 20 pip of low and it's say 2.30pm, then we won't get a chance to GO WITH the H1 (usually)


For me trading only with H1 colour is the biggest filter of rat reversals, and like you say I find most set up in the early part of the hour or quite often straight from the hour start. I also try and wait until Daily Range is hit, both of these together often filters down number of entries on a pair to maybe 2-5 a day but I feel more confident taking them.

nickohorny
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Postby nickohorny » Mon Oct 31, 2011 2:41 pm

Hey Xwing, thanks for the reply.

I like your charts! very snazzy colours.. I have a question regarding entry for rat reversal - posted on your chart.
It seems I have not been following rules properly :-0

How many pairs do you trade by the way?

Thanks again

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SusieQT
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Postby SusieQT » Mon Oct 31, 2011 4:21 pm

Hi Tro,

Here is what I do to gain pips easily.

I take my signals from the hourly candle.
I take pips on the hourly candle open, trade from within 20 pips of the s & r lines. I also trade the news following price action. All of these combine to make for a winning "system". I mostly trade off the 15 mtf.

For today I'm done and going to spend the rest of the day with my two year old.

Only had two losses, 11 wins. I'm in the green for the day and still am since making this work for me as of last week. BTW this also works for me in the wee hours of the London session. I work most of the week and can't trade the New York session on most days.

I think everyone should start with a clean and clear template in order to see what price is doing. Some of Tro's free indicators are of wonderful help in getting started, as well as his charts so you can understand how it all works.


:)

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