Fingobob wrote: Fingobob wrote: jsme wrote:
Fingobob wrote:Hi TRO,
There are a few biases that is inserted on the Rat zone indi
D1/W1/H1 bias. How do you use these biases when you trade the rat zone?
Also how does the range affect your trades? What is it supposed to tell us?
Myself I like to see the W1 green and the H1 green while within 20 pips of the low.
Then I look for the green rat entry
will look and see.
also after as stop loss do you reenter?
which pair do you trade? multi pair?
if i am a red rat CLop or Hi CL?
Pretty newbie questions.
Fingobob, if I get stopped out I will re enter the trade if the correct set up occurs. But I do not get stopped out very often, instead I will take small gains than wait for the set up to occur again. Doing this take just a few winners for me to get my daily goal.
I scan several pairs, this allows me to not "force" my view of what should happen onto a few pairs. What I mean is. I know what I am looking for in a trade set up and I look for a currency pair that is setting up that way. So I do look at various pairs and do not take a trade not properly set up.
If I were a red rat, which I am not. I would look for.
Prices below the weekly open. That is my first step.
Prices below the hourly open. That is my second step.
Current price within 20 pips of the High for the last 24 hours in a row.
I would take the trade at the low of the red candle, as long as the above still applies.
I know when I first tried this type of trading, it seemed like I was waiting for a long time between trades.
After I "realized" looking for the prices to be above the weekly open (for you as a red rat that would be below the weekly open) is a key issue. I was able to filter through a lot of pairs and focus only on a few pairs. That alone really helped me in finding the moves before they took place.
Fingobob, I will try to find a currency pair that is a good red rat set up and post a pic for you.