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

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jsme
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Postby jsme » Tue Mar 20, 2012 1:29 pm

paupau wrote: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.


paupau and Fingobob, a picute is worth a thousand words.

Image

For myself. I trade with the Weekly open and with the Hourly open.
In the above picure I think you can see several trade set ups occur (if not I can draw them in for you no worries)

What I like to do is take small gians from the market. I am just a scalper that is all I am.

By scanning several currency pairs, I am able to find one or two that will have the trade set ups I am looking for.

Later in the day this currency pair AUD/USD was not giveing me any green rat reversal trades. Which is fine. I would be looking at several others to see what I can get.

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paupau
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Postby paupau » Wed Mar 21, 2012 1:18 am

Based on your picture the daily low and daily high has not properly split yet.
I thought I read somewhere that we have to wait until they don't overlap each other?

Image

Pro Trader
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Postby Pro Trader » Wed Mar 21, 2012 7:25 am

jsme wrote: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


Jus pointing out one of TRO's useful indis.

Cheers

jsme
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Postby jsme » Wed Mar 21, 2012 11:18 am

paupau wrote:Based on your picture the daily low and daily high has not properly split yet.
I thought I read somewhere that we have to wait until they don't overlap each other?

Image


paupau, that very well may be true that the daily low and daily high are not allowed to overlap.

I am afraid I have not read that particular post. If that is an accurate statement, than I would agree that finding a trade on a market day open would be much more difficult to find.
For myself, I have found that this trading does work. If I am missing some of TRO rules, I am sorry to mislead anyone.
When I take a green rat trade (since I am a green rat) I use the rules that TRO repeats over and over.
In addition to those rules I use the filter of trading with the weekly and the hourly prices. But those are my views and should not be taken as TRO rules.
I have no statical analysis to back my additional filters up with, I only have personal observations.
Again it is not my intent to muddy the waters, I only wanted to point out that the trading style that TRO talks so much about. Has/does work very well for myself.
Last edited by jsme on Wed Mar 21, 2012 11:26 am, edited 1 time in total.

jsme
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Postby jsme » Wed Mar 21, 2012 11:24 am

Pro Trader wrote:
jsme wrote: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


Jus pointing out one of TRO's useful indis.

Cheers


I have to admit Pro Trader. TRO has so many useful indicators that I have been overwhelmed by them.
Trying to load a bunch of them and frankly I was getting confused. No disrespect meant to TRO.
It is only after I stopped and thought about the constant rat trade posts that TRO was making that even I was able to finally figure out how to trade and make profits.
I do find the TRO_Opens (which I believe is a August 2009 mother load indicator) very helpful in trading the rat trades in the manner that I trade.

So Cheers to you also :smt023 I appreciate anyone trying to help traders out.

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Postby Pro Trader » Wed Mar 21, 2012 7:30 pm

jsme wrote:
Pro Trader wrote:
jsme wrote: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


Jus pointing out one of TRO's useful indis.

Cheers


I have to admit Pro Trader. TRO has so many useful indicators that I have been overwhelmed by them.
Trying to load a bunch of them and frankly I was getting confused. No disrespect meant to TRO.
It is only after I stopped and thought about the constant rat trade posts that TRO was making that even I was able to finally figure out how to trade and make profits.
I do find the TRO_Opens (which I believe is a August 2009 mother load indicator) very helpful in trading the rat trades in the manner that I trade.

So Cheers to you also :smt023 I appreciate anyone trying to help traders out.


I too had many indicators on my charts when I was first introduced to trading and it wasn't untill I took them all off that I began to see what I couldn't before because of all the indis. I only have two now indis now and I only use them on my entry chart. I analyse on a HTF naked chart so I can see things clearly then drop down for entry.

I don't use TRO_Opens myself but I could see how you might find it useful from that post you made.

All the best in your trading

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Postby Fingobob » Thu Mar 22, 2012 2:15 am

does anyone knw what is the Weak/strong LWP? and training wheels mean?

RJo
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Postby RJo » Thu Mar 22, 2012 2:46 pm

Fingobob wrote:does anyone knw what is the Weak/strong LWP? and training wheels mean?


I read on some other forum in a galaxy far far away that LWP is Long Wicked Price Pattern. This seems to be a generic term for a nicely formed Doji, Dragonfly Doji, Gravestone Doji, or other Pinbar type candle, all of which have long wicks (or shadows).

I have no docs on Training Wheels, but when On it seems to tell you precisely when to enter intra-candle. Someone else please chime in if I'm wrong here.

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Postby Captain Pugwash » Thu Mar 22, 2012 6:35 pm

If my memory serves me well

"Training Wheels" is a Tro indicator for use with Rat trading - the idea is to keep a newb out of trouble until all the criteria are met.

go to the Drain the Banks thread and you will see it posted there

All the best
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paupau
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Postby paupau » Fri Mar 23, 2012 1:21 am

jsme wrote:
paupau wrote:Based on your picture the daily low and daily high has not properly split yet.
I thought I read somewhere that we have to wait until they don't overlap each other?

Image


paupau, that very well may be true that the daily low and daily high are not allowed to overlap.

I am afraid I have not read that particular post. If that is an accurate statement, than I would agree that finding a trade on a market day open would be much more difficult to find.
For myself, I have found that this trading does work. If I am missing some of TRO rules, I am sorry to mislead anyone.
When I take a green rat trade (since I am a green rat) I use the rules that TRO repeats over and over.
In addition to those rules I use the filter of trading with the weekly and the hourly prices. But those are my views and should not be taken as TRO rules.
I have no statical analysis to back my additional filters up with, I only have personal observations.
Again it is not my intent to muddy the waters, I only wanted to point out that the trading style that TRO talks so much about. Has/does work very well for myself.


Hi jsme, I can't remember where I read about the daily high/low not to overlap. but I did remember and using it to filter my trades, which is why I have trouble finding the opportunities on mondays.

But if it has been working out well for you without checking it, then I think that's the most important thing. As long as you are making pips.

It leads me to another question, if this has been working well for you, does that mean that you only need to look at opening of the day as it'll always be below 20 pips of daily low? (Still based on W1 & H1 in green of course).

I have the difficulties of getting into trade because I don't have the time to look at the chart for hours and when I do have the time, none inside the daily low. so I can only found a few opportunities to trade every week.

I might check this out and see how it goes.

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