2010.09.23 A NEW RAT IS IN TOWN

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bredin
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Postby bredin » Fri Nov 26, 2010 9:11 am

genlogins...

Its your money.....

G.
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ewcraigs
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My interpretation of this strategy

Postby ewcraigs » Fri Dec 10, 2010 7:40 pm

I have went through the posts on this thread. Please let me know if anything I have written is wrong.

I will give my description for the long trade
****
Red candle closes
Green candle closes (take note of open price)
If next candle is green and closes above prior green candles open, take the long position.

Stop loss 10 pips.
Profit: At your discretion
Technique may be used down to 5 minute chart?
****

Now for some items I am unsure of and need answers.
1: Should only one side (red or green) be traded? If yes, how do you decide which side?
2: Is it part of the system to use a 5 period exponential moving average? If so must the open, high, low, and close be above the moving average?
3: If the stop loss of 10 pips is hit before the end of the time frame being used, is the trade exited, OR does the trader wait until the time frame closes
4: In the technique above, you get the red candle, then the green candle. If the next candle closes red instead of breaking the prior open of the previous green candle, is the setup invalidated? If so would the new red candle begin the process over again?


Thanks

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forexbob
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Re: My interpretation of this strategy

Postby forexbob » Fri Dec 10, 2010 8:02 pm

ewcraigs wrote:I have went through the posts on this thread. Please let me know if anything I have written is wrong.

I will give my description for the long trade
****
Red candle closes
Green candle closes (take note of open price)
If next candle is green and closes above prior green candles open, take the long position.

Stop loss 10 pips.
Profit: At your discretion
Technique may be used down to 5 minute chart?
****

Now for some items I am unsure of and need answers.
1: Should only one side (red or green) be traded? If yes, how do you decide which side?
2: Is it part of the system to use a 5 period exponential moving average? If so must the open, high, low, and close be above the moving average?
3: If the stop loss of 10 pips is hit before the end of the time frame being used, is the trade exited, OR does the trader wait until the time frame closes
4: In the technique above, you get the red candle, then the green candle. If the next candle closes red instead of breaking the prior open of the previous green candle, is the setup invalidated? If so would the new red candle begin the process over again?


Thanks


this thread is a deviation from the original thread about rat trading , which can be found here:

http://kreslik.com/forums/viewtopic.php ... sc&start=0

this thread has slightly different rules, and started after a thread on FF by pipeasy (for link see first page of this thread), which imo is a valuable thread at FF.

rules are explained again and again in the other thread. you choose one color, cq only long or only short and what is not in the rules has no meaning.
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Humble
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Postby Humble » Sat Dec 11, 2010 5:21 am

However if you choose to be a green rate, this should work well for you:

1/. Red candle closes, take note of the open price.
2/. Green candle closes, draw a line a the high (extreme).
3/. Green candle closes above the line in 2 and above the open price in 1.
4/. Green candle reverses back to wick the general area of the line in 2 (would be a red candle at the time of forming the wick before closing higher).
5/. Enter long at the line drawn in 2.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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TygerKrane
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Postby TygerKrane » Tue Jan 11, 2011 9:12 pm

Been fishing about in the kreslik.com archives...

This pipEASY Rat looks like "Change of Heart".


I like the version flinux put up:




#-o [highlight=pink]~~I can only state, that it feels more and more, that it's not your method, it's your psychology.~~[/highlight] ](*,)
Last edited by TygerKrane on Tue Jan 11, 2011 10:02 pm, edited 1 time in total.

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Postby aliassmith » Tue Jan 11, 2011 9:28 pm

TygerKrane wrote:
#-o [highlight=pink]~~I can only state, that it feels more and more, that it's not your method, it's your psychology.~~[/highlight ](*,)


Psychology is a big part of success or failure. Without the right mindset
you will not be able to execute your method correctly. The method is
important because it needs to give you an edge.

They go hand in hand.
Trade Your Way as Long as It Makes Money!

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TygerKrane
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Postby TygerKrane » Tue Jan 11, 2011 10:13 pm

Thanks for the words of wisdom, alias.

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TheRumpledOne
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Postby TheRumpledOne » Wed Dec 21, 2011 2:11 pm

TRO_HOLO_DATA

Image


I modified the TRO_PERIOD_DATA indicator ( which is a modification of mladen's PERIOD_DATA indicator ) to show the HOLO CANDLE. The HOLO candle shows the lowest and highest opens for the last X bars, where price is at the moment and the direction of the "trend".
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TRO_HOLO_DATA.mq4
(10.62 KiB) Downloaded 132 times
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