2009.09.10 DRAIN THE BANKS - LIKE A RAT

[waynehenderson36]

Great indicators TRO, I like the training wheels but struggling exactly what to look for as an entry. It says ok to short as D, W, and H are all in agreement so do I just take any short position on that market or am I waiting for a candle pattern or a breakout? What is the indicator for entry? Thanks

[TheRumpledOne]

Great indicators TRO, I like the training wheels but struggling exactly what to look for as an entry. It says ok to short as D, W, and H are all in agreement so do I just take any short position on that market or am I waiting for a candle pattern or a breakout? What is the indicator for entry? Thanks

Let's clear things up:

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.

3) The TRAINING WHEELS only signals LONG trades ABOVE the weekly open and SHORT trades BELOW the weekly above. This bias keeps beginning traders, as well as experienced traders, out of trouble.


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


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



DRAIN THE BANKS - LIKE A RAT


1) price within 20 pips of the CURRENT daily low - that is OPPORTUNITY

2) red candle closes

3) green candle closes - note the high price of the green candle.

4) enter long at the green candle's high price

5) STOP LOSS IS 10 PIPS

6) Take whatever profit you can.

7) If the rules do not mention it, then it is of no concern.


"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."

[TheRumpledOne]

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[waynehenderson36]

Thanks Tro, this is all really interesting and mind blowing! Really appreciate your work and help. Thanks again

[TheRumpledOne]

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[waynehenderson36]

Tro, I'm using TRO_Multi_Meter_CandleColor as well as Tro_RAT_ZONE but I have a question about the multi meter candlecolor one.

This morning eurgbp said green for daily so I chose to be a green rat... But now the daily candle colour says red.... I didnt realise the daily candle color could change throughout the day? Is that correct? As I thought it meant I would be green all day and not switch over....

Thanks for your help, I have tried to attach some screenshots but it wont let me. Can you just answer whether it should change throughout the day as I thought it was based on the previous daily candle.... Thank you

[TheRumpledOne]

Tro, I'm using TRO_Multi_Meter_CandleColor as well as Tro_RAT_ZONE but I have a question about the multi meter candlecolor one.

This morning eurgbp said green for daily so I chose to be a green rat... But now the daily candle colour says red.... I didnt realise the daily candle color could change throughout the day? Is that correct? As I thought it meant I would be green all day and not switch over....

Thanks for your help, I have tried to attach some screenshots but it wont let me. Can you just answer whether it should change throughout the day as I thought it was based on the previous daily candle.... Thank you

"I didnt realise the daily candle color could change throughout the day? Is that correct? As I thought it meant I would be green all day and not switch over...."

If price above time frame period open, then time frame color is green.

If price below time frame open, then time frame color is red.

Price goes up/down all day long.

So, yes, the multi meter "should' change when price crosses above/below the time frame open. If it doesn't, there's a bug!

I thought it was based on the previous daily candle....

No, it is for the current time period (this minute, this hour, this day, etc...)

I believe I do have a version for previous time frame.

[waynehenderson36]

Thanks Tro, really appreciate your quick response and enjoying going through all your indicators and videos

[TheRumpledOne]

Thanks Tro, really appreciate your quick response and enjoying going through all your indicators and videos

You're welcome.
Glad to be of service.

[TheRumpledOne]

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