2009.11.05 DRAIN THE BANKS - REV 9

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tfg
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Postby tfg » Fri May 14, 2010 7:51 am

TRO,

What timeframe is RAT reversal trade for? 5m or 15m?

I read earlier in the thread you mentioned that this is not for 5m but all your illustrative examples are off 5m charts?

Thanks. Tfg

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TheRumpledOne
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Postby TheRumpledOne » Fri May 14, 2010 2:04 pm

The RAT REVERSAL TRIGGER works on any time frame.


GREEN RAT REVERSAL - LONG ENTRY CRITERIA:
1) RED CANDLE CLOSES
2) GREEN CANDLE CLOSES
3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG.
STOP LOSS IS ALWAYS 10 PIPS.

I like to use M5 when price is within 20 pips of the daily low.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby tfg » Fri May 14, 2010 2:14 pm

TRO, thanks.

What are the benefits, in your understanding, of 5m chart over, say 15m, within 20 pips of the daily low?

Tfg

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Postby TheRumpledOne » Fri May 14, 2010 7:42 pm

Image

It's just what I use for a long trigger.

I could use a weekly chart, if I wanted and trade 20 pips from the daily low.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby tfg » Sun May 16, 2010 10:43 pm

TheRumpledOne wrote:The RAT REVERSAL TRIGGER works on any time frame.


GREEN RAT REVERSAL - LONG ENTRY CRITERIA:
1) RED CANDLE CLOSES
2) GREEN CANDLE CLOSES
3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG.
STOP LOSS IS ALWAYS 10 PIPS.

I like to use M5 when price is within 20 pips of the daily low.


Avery, for LONG ENTRY CRITERIA:

1) RED CANDLE CLOSES
Does the red candle needs to close within 20 pips of the daily low to be qualified as trigger i.e. if it closes over 20 pips, it should be ignored and therefore, no setup for a rat trade?

2) GREEN CANDLE CLOSES
Does it matter if the green candle close within or above the 20 pips over the daily low?


Thanks. tfg

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Postby TheRumpledOne » Sun May 16, 2010 10:47 pm

Let's clear things up:

1) To trade like a RAT is to ALWAYS trade in ONE DIRECTION - either LONG or SHORT. Once you pick a "team", you can't switch.

2) The "within 20 pips of the daily high/low" is the BEST possible entry to get the maximum run BUT the RAT REVERSAL entry works ANYWHERE on the chart.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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rat price not showing

Postby tfg » Wed May 19, 2010 10:13 am

Avery, are RAT trigger prices of those blue and red lines supposed to be printing in rev9? They don't look so. See screenshot.

I 've also attached the RAT PLOT screenshot where trigger prices are properly printing. (in the rev 9 screenshot, the price 1.42895 is not printing)

Why two different templates for the RAT trades? Thanks.

tfg..




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Postby TheRumpledOne » Wed May 19, 2010 10:36 am

Rev 9 is not the same as DRAIN THE BANKS - LIKE A RAT so the triggers are not the same.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby tfg » Wed May 26, 2010 3:34 pm

TheRumpledOne wrote:
jonisonvespa wrote:hi tro
really really struggling to understand this 20 pips of the daily low,
is it the low of the last session, or the last 24 hours?
why 20 pips of the low?? alot of the time price is no where near the daily low?
thanks for taking the time tro.


Go back and read the second post of this thread. The answers to your questions can be found there.

You are correct, price is no where near the daily low a lot of the time, so you WAIT. You only need 1 or 2 trades a day to hit a reasonable daily goal.


Avery, while we are waiting for the price to make new high (or low) to catch the rev9 trade in the rat zone, is there anything stopping us using the normal rat reversal triggers to profit from rat reversal opportunities in between the daily high and daily low?

Thanks. tfg

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Postby TheRumpledOne » Wed May 26, 2010 3:48 pm

Rev 9 is NOT a RAT trade.

Nothing is stopping you from anything.

Ask yourself what is the reason you would not want to wait for price to be within 20 pips of the daily high/low since that is the best opportunity statistically?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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