2009.11.05 DRAIN THE BANKS - REV 9

[gangsta1]

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/

[jonisonvespa]

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

[gangsta1]

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.

[tompiet]

Gangsta nice results (on M5)
I have 1 question..... How are you timing the end of the break out so well??? If I could time the reversal as well as you I could quit my job. Hah HA ha Thanks in advance

[gangsta1]

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.

[TheRumpledOne]

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.

[jonisonvespa]

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

[gangsta1]

In 20 pip zone. SL alwyas 10 pips (give or take a few) as with TP.

[TheRumpledOne]

[gangsta1]

Tro could you please tell me if your recommended 10 pip SL includes the spread?

Todays results updated@ http://drainthebanks.wordpress.com/