2012 DRAIN THE BANKS LIKE A RAT .... CONTINUED

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TheRumpledOne
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Postby TheRumpledOne » Thu Mar 15, 2012 1:05 pm

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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 CURRENT daily high/low" is the BEST possible entry to get the maximum run BUT the RAT REVERSAL entry works ANYWHERE on the chart.

Trading is GUESSING. If it wasn't, you wouldn't need a STOP LOSS. THINK ABOUT IT!!


The important part is to enter WITHIN 20 pips of the CURRENT daily low. The RAT REVERSAL is only one entry method.


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jsme
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Postby jsme » Thu Mar 15, 2012 2:02 pm

Sorry Bob I was not trying to muddy the waters for you.

I did not take this trade because I am a green rat, but this would be the type of set up I would be looking for.

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Postby Fingobob » Fri Mar 16, 2012 3:56 am

wow, sounds pretty simple.
what if the low of the entry bar is >20 pips. where do u put the entry then?
there is a trigger line in this whole setup. do u put the entry at the trigger line.
set a SL of 10 pips den ... watch.
also it looks like u need to watch the markets pretty much regularly.
i am working my own biz so am not able to do so. except for a few mins here and there in the day.
is there some way to work out an execution plan to trade the Rat zone

Thanks jsme and tro appreciate your input in it all.

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Postby jsme » Fri Mar 16, 2012 1:08 pm

[quote="Fingobob"]wow, sounds pretty simple.
what if the low of the entry bar is >20 pips. where do u put the entry then?
I trade within 20 pips of the low only. If the entry bar is outside the 20 pips I pass on the trade. Taking a trade outside the 20 pips might work out, but I do better staying inside the 20 pips zone.
there is a trigger line in this whole setup. do u put the entry at the trigger line. Entry is the High of the green candle (for a red rat trader it would be the low of the red candle)
set a SL of 10 pips den ... watch. Correct.
also it looks like u need to watch the markets pretty much regularly.
i am working my own biz so am not able to do so. except for a few mins here and there in the day.
I do watch the trades regularly that is correct. I trade off the five minute charts. I am can not comment as to how effective this type of trading would be off of a longer time frame since I have not myself traded in that style. If I recall correctly I think TRO mentioned the rat trade can be used on larger time frames. I will leave that one up to TRO or someone who has/does trade longer time frames.
is there some way to work out an execution plan to trade the Rat zone
The only execution plan I use is the one that TRO mentions over and over.
Prices within 20 pips of the daily low.
Green candle forms.
Enter at a break of the green candle high.
I also use a "filter" of trading only when prices are also trading above the week open and the hour open.

My personal goal for a day is 2% return of my entire trading balance. In addition to the Rat Reversal trading style I also use some other trade set ups,all of them use very simple rules, but this is not the thread to discuss those set ups. My only point being. I have a simple plan. I trade my simple plan. When I reach my daily goal, I stop trading.
I do not recall the last time I was not able to reach my daily goal, once I started really paying attention to what TRO has taught. I normally spend 2-3 hours a day trading to reach my goals. My normal trading occurs during the London or New York trading sessions. I have no facts to point to this being the best time to trade. I just have that time of the day set aside to trade.


Thanks jsme and tro appreciate your input in it all.

You are most welcomed and I would once again like to thank TRO who showed me the light in trading in a simple manner...it does work nor matter what anyone wishes to say.

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Postby Sylverayda » Fri Mar 16, 2012 2:54 pm

jsme wrote:
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?

Fingobob


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


Thanks jsme,
will look and see.
also after as stop loss do you reenter?
Also
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.


jsme,

which pairs do you trade most often? which tool do you use to filter them out?
I'm just asking out of curiosity. I'm green too and I only trade on GBP/USD because I'm still learning, but for the future information...
:wink:

Today I missed this lovely green entry because of my work.
I'm frustrated and angry at my clients.

TRO, which mantra do you recommend?

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Postby jsme » Fri Mar 16, 2012 3:27 pm

Sylverayda, I find I trade one of the majors the most often. I am not trying to be coy.
I normally have all of the following charts loaded onto my Meta4 EUR/USD GBP/USD USD/CHF USD/JPY EUR/JPY EUR/CHF AUD/USD

The charts are all minimized and I scan through them to find one or two that I will be focusing on for the day. (For the RAT Reversal trades)

I use the TRO_RAT ZONE loaded onto each one. This allows me to quickly see which ones are trading above the weekly open.

I than focus on those I find over the weekly open.
Once those pairs are located I will draw a bold horizontal line at the weekly open. That is part of my filter

I also use the _BZ_SKYLINE with all colors switched to "none" except for the # 0
That indicator allows me to see how far prices are over the hourly open very quickly.
Again part of my filter

I am currently also using the HOLO indicator

I hope that assist you somewhat.

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Postby Pro Trader » Fri Mar 16, 2012 5:52 pm

jsme wrote:Sylverayda, I find I trade one of the majors the most often. I am not trying to be coy.
I normally have all of the following charts loaded onto my Meta4 EUR/USD GBP/USD USD/CHF USD/JPY EUR/JPY EUR/CHF AUD/USD

The charts are all minimized and I scan through them to find one or two that I will be focusing on for the day. (For the RAT Reversal trades)

I use the TRO_RAT ZONE loaded onto each one. This allows me to quickly see which ones are trading above the weekly open.

I than focus on those I find over the weekly open.
Once those pairs are located I will draw a bold horizontal line at the weekly open. That is part of my filter

I also use the _BZ_SKYLINE with all colors switched to "none" except for the # 0
That indicator allows me to see how far prices are over the hourly open very quickly.
Again part of my filter

I am currently also using the HOLO indicator

I hope that assist you somewhat.


Hi Jsme

You might find the following indis useful for your method:

TRO2009_Multi_Meter_Open shows how far price has travelled from each open price

TRO_Opens plots a line at the open of each period you specify. The pic shows the H1 and W1 open lines

The 2009 is donational though (There may be an update by now too though Im sure it will do pretty much the same thing)

Image

jsme
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Postby jsme » Sun Mar 18, 2012 2:05 pm

Thank you Pro Trader very much.

I have loaded the TRO_Opens and I see very quickly how helpful that will be. I have used the Multi_Meter but to be real honest I like using just the TRO_Rat-Zone. The arrow it shows are real simple for me to quickly find what I am looking for. :smt023

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paupau
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Postby paupau » Tue Mar 20, 2012 6:04 am

Hi jsme,

How's your strategy for Mondays?
The reason I asked is when W1 is Green and D1 is Green, chances are it won't be within 20 pips of daily low.
I hardly find the opportunities for Rat Trading on mondays because of this.
When it is within 20 pips of daily low, both D1 & W1 are normally Red, and I always see people said not to swim against the current.

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Postby Fingobob » Tue Mar 20, 2012 9:21 am

Ditto on the
Monday issue. TRO and anybody else would like to chip in also

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