2009.09.10 DRAIN THE BANKS - LIKE A RAT

[nickohorny]

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.

Hey Suzie, good stuff!
So are you trading using the buyzone at the beginning of the hourly candle?

Thanks

[Xwing76]

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

Ideally i look for entry within 20 pips of the low yes, this might have been a pip or so above the zone (I don't use MT4 for my live trading execution) but I liked the fact price had failed attempt at a new low and H1 was about to turn my way.

[nickohorny]

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

Same here, actually using Ninja which is pretty fast..

Oh also - what is the indi showing the Hourly candle in Bg again?
Might copy your chart setup, looks attractive to my eyes

[Xwing76]

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

Same here, actually using Ninja which is pretty fast..

Oh also - what is the indi showing the Hourly candle in Bg again?
Might copy your chart setup, looks attractive to my eyes

Ha ha, I copied it from Dragon and others on here, I use CustomCandle_TRO_Dot_Version with BGCandle setting to true

[TheRumpledOne]

Trading with H1 out of the RAT ZONE can be very profitable.

You just have to WAIT!!

[handy148]

I've got as far as page 320 so far.

One question please - we are all in different geographical time zones and/or different broker time zones and therefore the same chart will appear slightly different on certain time frames. Myself, I am in England but use OandA which is 4 hours behind GMT. The rat zones seem to start at 00.00 OandA time so presumably we are looking at many different rat zones depending upon broker/geographical location.

Of course, it could be that I'm a prime candidate for an honours degree at Yale.

[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]

I've got as far as page 320 so far.

One question please - we are all in different geographical time zones and/or different broker time zones and therefore the same chart will appear slightly different on certain time frames. Myself, I am in England but use OandA which is 4 hours behind GMT. The rat zones seem to start at 00.00 OandA time so presumably we are looking at many different rat zones depending upon broker/geographical location.

Of course, it could be that I'm a prime candidate for an honours degree at Yale.

Remember, time is RELATIVE to the OBSERVER!!

So it really doesn't matter when your day starts vs. when my day starts.

You don't sound like Yale material to me because you SEE rather than think.

[TheRumpledOne]

Chart shows the lows of the last 48 bars.

So how many different RAT ZONES can there be?

You should SEE it doesn't really matter!!

[Xwing76]

I took a loss on my first trade even though was with H1 colour at the time, but 2 quick wins although that last trade looks like it might go a lot further now.