2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Fri Oct 16, 2009 2:44 am

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SOMETIMES YOU DO GET LUCKY!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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forrestang
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Postby forrestang » Fri Oct 16, 2009 3:02 am

Patch wrote:forrestang

What do you think of taking 3 or 5 or 9 or 10 pips profit. I'd rather take 3 pips on 100 contracts, than 100 pips on one contract. Less time in the post 9/11 market.

Patch
Counting Pips


That is a reasonable suggestion. Just depends on wether you can pick enough trades that will have a high enough win % if you are going to cut profits quickly frequently that overrun your normal 10pip stoploss.

I have been doing really good on various late night swing trades in FX for some time.

I am interested in "The Rat" specifically for the NY/London session trading for quick/constant targets with some decent size.

I will nail a simple profit/stop strategy down soon.

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Postby AndreasF » Fri Oct 16, 2009 4:56 am

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The RAT method is really amazing- simple and profitable.
I mainly use it on H1- less entries compared to M5 but more pips and I don't have to spend every minute in front of the screen.

Thanks, TRO - you did excellent work

Andreas

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Postby noone22 » Fri Oct 16, 2009 8:12 am

TheRumpledOne wrote:SOMETIMES YOU DO GET LUCKY!


Is it about luck?

TRO, in this trade, have you waited
for semafor to appear against your direction
or candle to become red and move down significantly
to exit?

In the middle of this up trend you may not know,
whether it's going to continue up or will go down.

If I'm exiting the long trade (with profit),
and price is continue rising up -
I never regret, because I'm happy to catch some cheese
and know, that cannot catch them all.

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Postby SpankTheBanks » Fri Oct 16, 2009 8:59 am

TRO, can we have an alert added to the Rat Plot indicator? (when price crosses the line). Cheers.

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TheRumpledOne
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Postby TheRumpledOne » Fri Oct 16, 2009 11:56 am

AndreasF wrote:Image

The RAT method is really amazing- simple and profitable.
I mainly use it on H1- less entries compared to M5 but more pips and I don't have to spend every minute in front of the screen.

Thanks, TRO - you did excellent work

Andreas


You're welcome.

Now give D1 a try...LOL!!
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 16, 2009 12:03 pm

noone22 wrote:
TheRumpledOne wrote:SOMETIMES YOU DO GET LUCKY!


Is it about luck?

TRO, in this trade, have you waited
for semafor to appear against your direction
or candle to become red and move down significantly
to exit?

In the middle of this up trend you may not know,
whether it's going to continue up or will go down.

If I'm exiting the long trade (with profit),
and price is continue rising up -
I never regret, because I'm happy to catch some cheese
and know, that cannot catch them all.


I am defining LUCK to mean when you have a favorable outcome or result in situation that you can NOT control 100%.

You are asking about the exit. I take what I can. I have no "set" method.
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 16, 2009 12:29 pm

SpankTheBanks wrote:TRO, can we have an alert added to the Rat Plot indicator? (when price crosses the line). Cheers.


The reason I did NOT put an alert on the RAT PLOT is because you will be entering too late.

But I guess I could give you an "early warning"....
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 16, 2009 1:25 pm

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I have explained the RAT REVERSAL before but I'll do it again:

1) price within 20 pips of the 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.
__________________
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby johnsund » Fri Oct 16, 2009 2:28 pm

<a href="http://es.tinypic.com" target="_blank"><img src="http://i34.tinypic.com/29fwhhf.jpg" border="0" alt="Image and video hosting by TinyPic"></a>

In at 6340 out at 6355. Follow th rules to make pips over and over and over!!!

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