I think that we should merge the idea of the open cross and have a HATR Rat-zone on either side of the open that is then pushed apart by an expanding range:
2009.09.10 DRAIN THE BANKS - LIKE A RAT
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- TheRumpledOne
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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT
MightyOne, please explain the HATR?
Remember, the BuyZone was created using statistics so it has been "proven".
Remember, the BuyZone was created using statistics so it has been "proven".
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.
Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT
TheRumpledOne wrote:MightyOne, please explain the HATR?
Remember, the BuyZone was created using statistics so it has been "proven".
1. This is a Rat-zone.
2. I illustrated why I feel that 20 pips does not work for all charts (just look at the pictures)
HATR (Hourly Average True Range) = iATR(NULL,60,32,0) * (MathPow(10,digits-1) to move the decimal to the right.
Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT
It's your money
- TheRumpledOne
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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT
MO:
I think you forgot something...
The 20 pip is the LAST CALL!! So long as you enter within 20 pips of the daily high/low, you should be able to exit with a profit based on statistics.
I think you forgot something...
The 20 pip is the LAST CALL!! So long as you enter within 20 pips of the daily high/low, you should be able to exit with a profit based on statistics.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT
TheRumpledOne wrote:MO:
I think you forgot something...
The 20 pip is the LAST CALL!! So long as you enter within 20 pips of the daily high/low, you should be able to exit with a profit based on statistics.
I was there to cut the cord when the Rat-zone was born "forgot"...LOL!
We both know that 'last call' means that the police are probably out there waiting for you to start your car
Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT
Trade lines, risk lines, make lines.
Re: 2009.09.10 DRAIN THE BANKS - LIKE A RAT
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Let's talk about getting out and "missing out".
You take profit at +5 which makes your next trade worth (13/8)x or +62.5% size, price rises another 4 lines and you had all day to take 3.5; how much money was "missed out on?" The Answer is (1/1.625)3.5 or 2.153 lines.
Had price declined by 2 lines then your position size would be 60% of what it could have been & if you then absorb even 2 lines then you have made 52% less profit.
You can think of a line as if it were a pip, but for those who still confused by lines I will ask it this way: If your target is 2+ pips and you are at +5 or 6 do you hold out for 15?
If your 'pip bank' is 20 pips and you make 5 then your position size rises by 25%: you only utilize 20 on each trade so where should that 5 pips go?
Size doesn't just 'matter', size is everything when it comes to profit.
-16/20 is not a 'loss', if you lose all but 4 pips then you risk those 4 pips:
1. turn 4 pips into 10: (4/10)1.25
2. look at your current pips and size: 10 pips at 50% size
3. if you need 14 pips to trade a pair then reduce it further to (10/14)50% or 14 pips at 35.714% size
4. you make 6 pips, 20 is the total, you reduce it to 10 pips at 71.428% size
5. repeat.
You will either lose your last 4 pips or make all of your money back and reach your profit target.
If your size cannot be reduced to the point where you have enough pips to place a trade then that is just one more reason why size is everything.
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