2009.09.10 DRAIN THE BANKS - LIKE A RAT

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

frang0nve
rank: 150+ posts
rank: 150+ posts
Posts: 199
Joined: Thu Apr 09, 2009 7:57 pm
Reputation: 0
Gender: Male

Postby frang0nve » Sat Oct 17, 2009 5:52 am

MightyOne wrote: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.


TheRumpledOne wrote:
Depends on what you are asking?

Taking the entry after the red, green, long at prev green high, then YES!

If you enter after that, then "NO", is it not an official RAT REVERSAL TRADE per se. More like an ADVANCED RAT REVERSAL TRADE. But let's NOT confuse others.

Remember, the RAT ALWAYS TURNED LEFT ( only trades in ONE DIRECTION and NEVER SWITCHES ) .


Hello,

Thanks for your comments.

My question came because in my broker's chart, there is a doji (number 3 in the attached chart) and I want to be sure that it's not invalidating the rat setup. ( have to be adjacent green candles ?)

Anyway I took the trade (for a very small profit :roll: ) as you can see in the chart).

Cheers

Francisco

Image

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

User avatar
snscott
rank: 50+ posts
rank: 50+ posts
Posts: 60
Joined: Sun May 24, 2009 2:15 pm
Reputation: 0
Location: Great Republic Of Texas
Real name: Steven Scott
Gender: Male

ARGH!

Postby snscott » Sat Oct 17, 2009 7:12 am

:smt024 I do wierd stuff when I can't sleep.

Exhibit A:

Image


See how I combined the old DTB "Pirate" theme with the new Rat theme and... oh, never mind.

Ok, I said I could not sleep, I did not say I wasn't sleepy. :P

User avatar
Patch
rank: 500+ posts
rank: 500+ posts
Posts: 941
Joined: Sat Jan 06, 2007 6:13 pm
Reputation: 0
Location: Virginia
Real name: Jeff
Gender: Male
Contact:

The BIG Screen

Postby Patch » Sat Oct 17, 2009 8:25 am

snscott

Now that you mention it, you do look kinda sleepy in your icon picture. I can't sleep either. I am not drawing though, but writing a trade strategy and can't sleep. What do you think of "The Rat Pack Pirates"? That font for Pirates is the best of all.

I had to laugh when I went to copy you neat screen I realized it is big, so I now call it "The BIG Screen". Now I am going to have to go out and buy a new big screen for my trading computer. Could you tell me how you use this multi-meter? When you get in, and does it give you clews when to exit?

Patch
Sleepless in VA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

User avatar
snscott
rank: 50+ posts
rank: 50+ posts
Posts: 60
Joined: Sun May 24, 2009 2:15 pm
Reputation: 0
Location: Great Republic Of Texas
Real name: Steven Scott
Gender: Male

Re: The BIG Screen

Postby snscott » Sat Oct 17, 2009 3:48 pm

Dear Sleepless in VA,

I like to think of it as the "bridge", or "command center", of my pirate ship. :P

The way I have been using that screen is simply as a quick way to see "what is going on (through RAT COLORED GLASSES)" across multiple timeframes for multiple currencies.

But in terms of actual trading, since I am very much a noob (to forex, I have been writing computer programs since 1981) I follow TRO's sage advice in that I stick to trading ONE currency pair. (for the time being, anyway :) )

I went with EURUSD simply because it usually has the narrowest Bid/Ask "spread" at any given time of day. I have a micro account with FXCM, and a demo MT4 account with them as well. I use MT4 for the "analysis" and then FXCM's Trade Station to actually execute - so I am dealing with the emotions of gaining and/or losing REAL money. Sure, not a lot, but it still generates the same emotional responses exactly the way a demo account doesn't.

When they say trading is largely "psychological", it is emotions they are talking about - so while I am learning "to see", as TRO & MO say here, I am also learning to control how I "feel", especially when I have angered the Pip Gods and They Doth Taketh Them Away - and that is another golden piece-o-eight from the FX Jedi Masters here that is easy to "poo poo" and ignore by arrogant FX Padawans (like me), but it really is serious and important. As TRO put it; he "protects me from me" by strictly adhering to his system and not succumbing to his emotions.

So, in particular...

I wait for one of two things - either a YELLOW-flagged "EURUSD" in one of the RAT TRADER indi's along the top, OR for a "pointing finger" flag to pop on the EURUSD line of the RAT CO-HC-CL monitor in the middle (a knock from what Master TRO would call an "OPPORTUNITY").

THEN I go look at the corresponding currency chart/tab that I already have set up, basically, with my own slightly tweaked version of TRO's "Got Cheese?" template.

There, I look to see what the price is actually doing and follow the RAT rules regarding the alignment of the bar colors and price action to decide whether or not to pull the trigger.

To "pull the trigger", I have a couple of simple BUY and SELL scripts bound to the ctrl-B and ctrl-S keys that place orders with default 10-pip SL and TP.
[hr]
Then, I pull another chicken from the box here and say a little prayer to TRO as I chop off it's little head and let it's body run around the room. Or maybe I'm the one who runs around the room like that.
[hr]
Two-Percenters

One bit of advice that TRO has given on here that has REALLY helped me is his "2% per day THEN STOP" rule. Following that rule alone has helped me a lot - but damn it is hard to follow after a couple of "wins".

User avatar
snscott
rank: 50+ posts
rank: 50+ posts
Posts: 60
Joined: Sun May 24, 2009 2:15 pm
Reputation: 0
Location: Great Republic Of Texas
Real name: Steven Scott
Gender: Male

Re: The BIG Screen

Postby snscott » Sat Oct 17, 2009 7:26 pm

Patch wrote:When you get in, and does it give you clews when to exit?


Patch, I just realized I dd not address this portion of your post.

I just fell off the proverbial Forex Turnip Truck, so I personally can't give any advice, because from me, such advice would be (approximately) worth a 50 million mark banknote from the Weimar Republic.

Here, have a Weimar 50 million Mark on me. :)

Image

[hr]

BUT, I can repeat what Master TRODA told me earlier in this thread:

[font=Lucida Console]"What I do is protect ME from ME.

AT +5 pips, I will be ready to bail at +3 if price pulls back.

At +10 pips, I will enter a trailing stop of 4 or 5 pips.

At +15, I will cancel the trailing stop and enter a hard stop at +10.

Then I will move the hard stop up if price moves up.

At +25, I may move the hard stop up to +25 or to a price ending in 0 or 9.

Sometimes, I may exit 1/2 of my position at +20 to lock in a 1% gain.

The idea is to be CONSISTENT. You'll miss out sometimes, but you only need ONE big run and you are done for the day."

[/font]

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

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5874
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 1327
Gender: Male

Postby MightyOne » Sat Oct 17, 2009 8:06 pm

Here is my wishlist for future TRO indicators ;)

Not sure if it is possible to have one indicator look to another for information, but it would sexy :shock:

ImageImage

User avatar
snscott
rank: 50+ posts
rank: 50+ posts
Posts: 60
Joined: Sun May 24, 2009 2:15 pm
Reputation: 0
Location: Great Republic Of Texas
Real name: Steven Scott
Gender: Male

Postby snscott » Sat Oct 17, 2009 8:23 pm

MightyOne wrote:Not sure if it is possible to have one indicator look to another for information, but it would sexy :shock:


You can use the iCustom() function in MT4 to call any installed indicator by name, passing in values for each exposed/external property of that indicator.

As long as that indicator puts the values you want to "read" into one of the 8 available "buffers", you can then access those values (by bar index), to do something in your indicator or EA.

I assume this is what you are talking about?

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5874
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 1327
Gender: Male

Postby MightyOne » Sat Oct 17, 2009 8:36 pm

snscott wrote:
MightyOne wrote:Not sure if it is possible to have one indicator look to another for information, but it would sexy :shock:


You can use the iCustom() function in MT4 to call any installed indicator by name, passing in values for each exposed/external property of that indicator.

As long as that indicator puts the values you want to "read" into one of the 8 available "buffers", you can then access those values (by bar index), to do something in your indicator or EA.

I assume this is what you are talking about?


I would just like to see more start & end date options in the indicators or start building TRO indicators off the Blubbb_CustomCandle.

The base indicator would have a color ON/OFF option and then any new TRO indicators could be attached as is the case when Blubbb attached the Buy Zone to Blubbb_CustomCandle.

This would give us unlimited time frames to trade TRO's methods.

(To attach multiple TRO indicators the 2 lines in BCC would need to be changed to start + end date)

User avatar
blubbb
rank: 150+ posts
rank: 150+ posts
Posts: 219
Joined: Mon Sep 29, 2008 8:07 pm
Reputation: 0
Location: Europe
Gender: Male

Postby blubbb » Sat Oct 17, 2009 9:04 pm

I'll see if I can add buffers for open, high, low, close in the CC indi. The only thing is that there would have to be bars "in between" where the buffers would be 0. The other indi would need to ignore those.
But no promises...

BTW: There were even bigger banknotes. :-)

Image

(5 billion)

And look at this *LOL*
Image

User avatar
Patch
rank: 500+ posts
rank: 500+ posts
Posts: 941
Joined: Sat Jan 06, 2007 6:13 pm
Reputation: 0
Location: Virginia
Real name: Jeff
Gender: Male
Contact:

Postby Patch » Sat Oct 17, 2009 10:02 pm

The one race I don't want to win is to have the biggest currency bank note.

Notes on what maybe coming our way.

We are already bankrupt.

We are no longer the world's reserve currency.

No worry, The markets are happy as drunks (I won't insult sailors)

Next: Inflation. Wild debt in our society at all levels, is our leveler once again.

Blubbb, where did you get that hundred trillion dollar note, I need 10 of them right now.

Patch
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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


Return to “TheRumpledOne”