Demand levels off the Daily low
2009.09.10 DRAIN THE BANKS - LIKE A RAT
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- TheRumpledOne
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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!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
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- TheRumpledOne
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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.
<-------------------------------------------------------------------->
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 do NOT PM me with trading or coding questions, post them in a thread.
I was getting ready to post the same thing...
http://i40.tinypic.com/21nljt1.gif
The risk I use when scalping is 0.5% per 10 pips if anyone was wondering.
http://i40.tinypic.com/21nljt1.gif
The risk I use when scalping is 0.5% per 10 pips if anyone was wondering.
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15558
- Joined: Sun May 14, 2006 9:31 pm
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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 do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
- rank: 10000+ posts
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- Joined: Sun May 14, 2006 9:31 pm
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TRO_HLO plots the opens for the green candles, red candles or both.
- Attachments
-
- TRO_HLO.mq4
- (13.21 KiB) Downloaded 273 times
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 do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15558
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3035
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
The important part is to enter WITHIN 20 pips of the daily low. The RAT REVERSAL is only one entry method.
<-------------------------------------------------------------------->
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 do NOT PM me with trading or coding questions, post them in a thread.
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Thank you for your support.
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