2009.11.05 DRAIN THE BANKS - REV 9

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TheRumpledOne
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Re: Rats!

Postby TheRumpledOne » Fri Nov 13, 2009 11:48 pm

Ducky wrote:Is it advisable to take a rat trade when the price is not in the 20 pip range of daily high or low? Thanks for your reply.


If you are a green rat, you should be waiting to get in after price makes a new daily low. What is the reason you are not able to do this?

Of course, you can enter rat reversals after price has left the rat zone.

If you are a green rat and price has just left the red rat zone, it is better to wait.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby jonisonvespa » Sat Nov 14, 2009 10:42 pm

hi tro,

sorry a bit off topic, i couldnt find a thred for this question, ive been using you wick count indi, top/bottom.

the time period is set to (24) am i correct in thinking this period is 24 days?

i want to have a look for longer period say 100,

what are you views looking over a longer period, or should you stick to a shorter period to keep in check with the current (trend of the pair)

i may regret saying trend

thanks for taking the time tro

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Postby forexjake80 » Sun Nov 15, 2009 12:25 pm

soooo guess i gotta post here so the link becomes visible to me as well? Was going crazy reading the post couple of times still not finding it :-)

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Postby jonisonvespa » Sun Nov 15, 2009 2:04 pm

hi tro
just wondering what the % figures are in the indicator how to use them
thanks for taking the time tro

ive figured left one is % left of the bar..


Last edited by jonisonvespa on Tue Nov 17, 2009 2:03 pm, edited 1 time in total.

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Postby gangsta1 » Tue Nov 17, 2009 5:16 pm

For anyone interested, I will be posting daily results and screenshots of trades taken in my new DTB blog I set up today. Todays results have been posted. I traded 24 times today over 7 pairs. The point of this test is to find out what pairs/times work best for me, I am letting you all know as you may find something useful from my posts there and I dont want to clutter threads with chart after chart.

http://drainthebanks.wordpress.com/

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Postby jonisonvespa » Tue Nov 17, 2009 6:12 pm

looks good ganster,
do you trade h1 3 sem only, then enter the trade on 5m?
how about taking profit at 5 pluss spread?

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Postby gangsta1 » Tue Nov 17, 2009 7:11 pm

I trade 3semafors on the m5 chart. It is the choice of each individual trader what TP to use. I opt for a TP of around 10 pips in order to maintain a 1:1 risk:reward ratio. Personally, I would not be content with one loser knocking out 2 winners. Just my opinion.

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Postby gangsta1 » Tue Nov 17, 2009 9:00 pm

I am not timing the end of the breakout. I am simply taking the rat reversals when price is within 20 pips of the daily high/low and a 3 semafor appears.

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TheRumpledOne
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Postby TheRumpledOne » Wed Nov 18, 2009 4:40 am

jonisonvespa wrote:hi tro
just wondering what the % figures are in the indicator how to use them
thanks for taking the time tro

ive figured left one is % left of the bar..




Actually, it is percent used.

The other is % in Range, where 0 % is the low or bottom of the range and 100 % is the high or top of the range.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby jonisonvespa » Wed Nov 18, 2009 10:47 am

hi gangster
are you entering a trade if price makes a new high or low, or do you enter the trade enters the 20 zone, also do you keep your stops to 10 min??
cheers

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