2009.09.10 DRAIN THE BANKS - LIKE A RAT

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snscott
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Postby snscott » Sun Oct 18, 2009 7:50 pm

MightyOne wrote:What you can know are the statistics of individual bars or how the current bar usually interacts with its neighbor(s).

Pick one color and stick to it and maybe later, when you are not subject to an alarm clock, you can attempt to switch just before a strong trending move should you have the experience to do so.


MO, I really like these chart examples where you toggled the colors to highlight only A SPECIFIC RAT's colored bars. :smt023

That simple tweak really makes them stand out especially for us feeble, old, near-sighted farts for sure! :D

A relatively simple nuance, but also a Great Idea.

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Postby frang0nve » Sun Oct 18, 2009 8:24 pm

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oldmangeezer
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Maybe A Reason Why

Postby oldmangeezer » Sun Oct 18, 2009 9:48 pm

Maybe a reason why we shouldn't keep our positions open over the weekend??

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Will the window close??

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Patch
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Postby Patch » Mon Oct 19, 2009 12:30 am

oldmangeezer

One old geezer to another, wondering if you were in the market at the close on Friday. Ever since 2009.09.11 I've decided not to ever be in the market over a weekend close. Also I like the idea of being out of the market while I sleep at night. What was this, about a 70 pip drop, it could be a lot worse. Why take the weekend risk?

If I knew how to code MT4 and was coding an auto trade EA, I could have it close all contracts each evening, and each Friday at the market close. Does this make sense?

Patch
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Trading Forex In the Post 9/11 World
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

oldmangeezer
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Not Me

Postby oldmangeezer » Mon Oct 19, 2009 12:42 am

I would never leave a trade go on over a weekend. Never know what will happen when the market closes from Friday 5 PM New York time to Sunday eve. I see the window closed on the GBP USD.

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Patch
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Postby Patch » Mon Oct 19, 2009 1:02 am

oldmangeezer

So just to tell the end of the story as it occurred over the past three hours, plus or minus, just look at the attached M1 chart below. Tonight the gap was filled in short order. When I saw the gap this afternoon, I asked myself, I wonder if the gap will be filled. If I had been long in the market at the Friday closed, I could have closed my position immediately or stayed in. I watched the market for the first 20-25 minutes and after 7 to 10 minutes decided it would be best to stay in for a while. The risk is that the market could also continue to plummet. The market opened on a long M1 candle, this helped the cause to "stay in".

As a BuyZone kind of guy, I also can't help but notice the short tails and many zero tails on the blue (sorry should be green) candles and the same thing with regards to the wicks on the red rat side. Looks like a lot of MO's momentum around this evening.

Trading is a gutsy business at times, in truth it takes guts to step up to begin with and stick it out.

Patch
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Attachments
2009.10.18-the rest of the story.jpg
2009.10.18-the rest of the story.jpg (171.07 KiB) Viewed 2121 times
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

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MightyOne
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Postby MightyOne » Mon Oct 19, 2009 4:26 am

What better way to keep you trading in one direction than to not have any short triggers?

I cut the TRO_HL in half and spent some time trying to "Sweet Spot" the indi before I just gave up and used fibo :lol: :lol: :lol:

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MightyOne
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Postby MightyOne » Mon Oct 19, 2009 8:10 am

snscott wrote:
MightyOne wrote:What you can know are the statistics of individual bars or how the current bar usually interacts with its neighbor(s).

Pick one color and stick to it and maybe later, when you are not subject to an alarm clock, you can attempt to switch just before a strong trending move should you have the experience to do so.


MO, I really like these chart examples where you toggled the colors to highlight only A SPECIFIC RAT's colored bars. :smt023

That simple tweak really makes them stand out especially for us feeble, old, near-sighted farts for sure! :D

A relatively simple nuance, but also a Great Idea.


Thanks snscott :)

I have nothing to do aside from decorating my charts while I wait for trade :lol:

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TheRumpledOne
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Postby TheRumpledOne » Mon Oct 19, 2009 11:50 am

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OPPORTUNITY...
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 » Mon Oct 19, 2009 12:28 pm

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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.

"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."
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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