2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Mon Nov 14, 2011 8:21 pm

Image


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

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The important part is to enter WITHIN 20 pips of the daily low. The RAT REVERSAL is only one entry method.

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Trading is GUESSING. If it wasn't, you wouldn't need a STOP LOSS.

THINK ABOUT IT!!


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MAXIMUM RISK = 2% * ACCOUNT BALANCE.

STOP LOSS = 10 PIPS. (INCLUDING SPREAD)

POSITION SIZE = RISK / STOP LOSS.

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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.

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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 » Mon Nov 14, 2011 8:25 pm

Nick...

are you a red rat or a green rat? I can't tell from your charts.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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nickohorny
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Postby nickohorny » Mon Nov 14, 2011 8:52 pm

TheRumpledOne wrote:Nick...

are you a red rat or a green rat? I can't tell from your charts.


Hi, sorry I am a green rat. All my trades are taken within 20 pips of low rat zone long. And I am only going with the H1 bias which is in the background as blue shaded candle colour.

I just took another and got out with +7.
Thanks

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Postby nickohorny » Tue Nov 15, 2011 4:35 pm

Just now:



and then:



Grrrr bummer :cry:

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Postby TheRumpledOne » Wed Nov 16, 2011 5:58 am

W1 is RED. Expect to lose when you trade against both D1 and W1.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Wed Nov 16, 2011 5:58 am

Are you sure you have the latest version of the RAT ZONE indicator?!?!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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nickohorny
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Postby nickohorny » Wed Nov 16, 2011 5:54 pm

Hi TRO and thanks for the response,

Firstly, the RAT ZONE indi I use is TRO_RAT_ZONE, and have the input values for 20 pip zones. It may be hard to see on my chart as I shade the zone colour just slightly paler than the bg colour. But you can see the navy dots showing the zone..

Is this the correct indicator? what made you ask me if i was using the correct one?

Secondly, I understand the rule of thumb - do not trade as a green rat long unless with the H1 and W1 bias.. but this is where I COMPLETELY STRUGGLE to get any trades per day! If I choose to only take them IN THE RAT ZONE with BOTH BIAS I literally can take a whole day without finding any setups. This is why I just chose to trade with the H1 as a filter for now.

Not only that, but If I pick just one pair to master as I am new (as you advise) It is even more difficult to get any setups! as just one pair there will be even less chances.

Once I see OPPORTUNITY on the gauge, I then look at TRO2010_MP_DW under it and it is extremely rare to see it within the LOW OF DAY and ABOVE D1 and W1.

I also see your posted charts and rarely are you showing taking rat trades long with the W1 and D1.

I hope you don't take this the wrong way from me.., I love your teaching, and have all your pdf books and indicators as I just want to learn so much and be profitable at some point, I am just struggling to master some steps I guess, well I am not as I KNOW they are VERY EASY to understand! but just don't seem to be working for me....yet! I need to work out where I am going wrong, I will try just taking trades with both H1 and W1 only now, see how I get on. I don't think I can EVER see price above D1 once in the rat zone.. never really came across it anyway!

I hope you don't mind me posting so much of late - I have read all this thread and the old NLA one on babypips and am only just getting active with demo trading hence my posts lately!

Thanks and keep up the awesome work :D

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Postby TheRumpledOne » Wed Nov 16, 2011 8:13 pm

Feel free to post. Express your opinions and share your experiences as much as you want.

You only need 1 or 2 trades per day.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby nickohorny » Wed Nov 16, 2011 8:59 pm

earlier trades, this time to go with both H1 and W1 bias only



then the dreaded stopout! Grrr damn you SL! :x



Come on rat pick up that delicious cheese for once!

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Postby TheRumpledOne » Thu Nov 17, 2011 12:16 pm

Image

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

1) Price within 20 pips of the daily low (ClLo < 20): This is OPPORTUNITY

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

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!



Please do NOT PM me with trading or coding questions, post them in a thread.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


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