2009.09.10 DRAIN THE BANKS - LIKE A RAT

[JESGPY]

Made my 20 pips in about an hour. On EU and UC I post my charts below.



EU


UC

Ill keep practicing till i feel as it is natural.

JUAN

[TheRumpledOne]

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."
______________

[TheRumpledOne]

[pablo101]

"So who is correct then?"

What is your question?

Sorry Avery, I was trying to understand range and the logic behind reading it. Not in any textbooks I read but hey, I'm no yale student

[snscott]

Yep, this about sums it up.



At least until I get to OZ and see the Wzard, I need a system that DOESN'T REQUIRE A BRAIN.

The "rest of the stroy", though is, our friend here finally did make it to OZ and the Wizard, where he got his brain.

Once he had a brain, he enrolled at Yale and promptly blew out his entire trading account and is now back to working in the cornfield.

Sad, really.

[TheRumpledOne]

"So who is correct then?"

What is your question?

Sorry Avery, I was trying to understand range and the logic behind reading it. Not in any textbooks I read but hey, I'm no yale student

PRICE MOVES.

PRICE MOVES UP OR DOWN.

SOMETIMES PRICE MOVES A LOT AND SOMETIMES PRICE MOVES A LITTLE.

THE CURRENT RANGE ( HIGH - LOW ) TELLS US HOW FAR PRICE HAS MOVED.

HIGH - CLOSE TELLS US HOW FAR PRICE HAS REVERSED OFF THE HIGH.

CLOSE - LOW TELLS US HOW FAR PRICE HAS REVERSED OFF THE LOW.

CLOSE - OPEN TELLS US HOW FAR PRICE HAS MOVED FROM THE OPEN.

AVERAGE RANGE TELLS US HOW FAR PRICE MOVES ON AVERAGE.

IF THE CURRENT RANGE IS NEAR OR ABOVE THE AVERAGE RANGE, would this be a location to look for a reversal?

If price drops below the weekly open and the current weekly range is less than average, would it be wise to wait if you are a green rat?

How many times do you see 2 or more red daily candles in a row?

How many times do you see the low of the daily candle following a red daily candle lower than the red daily candle's low?

LOOK AT THE CHART, YOU SHOULD BE ABLE TO SEE THIS WITH YOUR EYES!

Remember, the RAT ALWAYS turns left. If the RAT was a trader, it would ALWAYS trade LONG or ALWAYS trade SHORT and never change. Yale students change and that's why the RAT beats them.

[pablo101]

"So who is correct then?"

What is your question?

Sorry Avery, I was trying to understand range and the logic behind reading it. Not in any textbooks I read but hey, I'm no yale student

PRICE MOVES.

PRICE MOVES UP OR DOWN.

SOMETIMES IT MOVES A LOT AND SOMETIMES IT MOVES A LITTLE.

THE CURRENT RANGE ( HIGH - LOW ) TELLS US HOW FAR PRICE HAS MOVED.

HIGH - CLOSE TELLS US HOW FAR PRICE HAS REVERSED OFF THE HIGH.

CLOSE - LOW TELLS US HOW FAR PRICE HAS REVERSED OFF THE LOW.

CLOSE - OPEN TELLS US HOW FAR PRICE HAS MOVED FROM THE OPEN.

AVERAGE RANGE TELLS US HOW FAR PRICE MOVES ON AVERAGE.

IF THE CURRENT RANGE IS NEAR OR ABOVE THE AVERAGE RANGE, would this be a location to look for a reversal?

If price drops below the weekly open and the current weekly range is less than average, would it be wise to wait if you are a green rat?

How many times do you see 2 or more red daily candles in a row?

How many times do you see the low of the candle following a red candle lower than the red candle's low?

LOOK AT THE CHART, YOU SHOULD BE ABLE TO SEE THESE!

Remember, the RAT ALWAYS turns left. If a rat was a trader, it would ALWAYS trade LONG or ALWAYS trade SHORT and never change. Yale students change and that's why the RAT beats them.

Thanks for the explanation TRO, I like being a rat since I was born in the year as one

Do you have an indi to show graphically daily open, weekly open and monthly open line please? I just found out my existing one is all wrong

[JESGPY]

I just took my first live trade. couldnt wait till tomorrow
.. small 0.5 minilot.. took my 10 pips.. I am happy..

Ill continue tomorrow.

Thanks TRO.

JUAN

[TheRumpledOne]

Using your EYES, how many pips should a green rat wait for price to reverse off a high BEFORE looking for the next trade?

[TheRumpledOne]

Do you have an indi to show graphically daily open, weekly open and monthly open line please? I just found out my existing one is all wrong

TRO_PLOT. You can plot open, high, low, close, midpoint and pivot. You can plot for any/all of the chart periods. These are controlled via inputs.

Look in the MT4 Motherlodes for TRO_PLOT.