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

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paupau
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Postby paupau » Wed Jun 06, 2012 1:29 pm

ds2007 wrote:
mkruss wrote:Hello Gentlemen, as this indicator is called
http://screenshooter.net/9757518/bsyoxwa
I guess there are at least two of us looking for the "Drain the Banks" dashboard. I've scoured the first half of the 2012 Drain the Banks forum, searched thru a couple of different motherloads and tried to find it in the 2012 package , but to no avail. Would someone post how to obtain this dashbord, doesnt matter if it's pay or not, if it makes money, I'll gladly donate to the cause.

I believe that is TRO2010_MP_HLC_PIPS and it is donational indicator.
I think TRO also mentioned before that you can use the FREE TRO_RANGE_GAUGE. You get the same information but on a single pair only.
Although it's free but I'm not sure where to get it from.

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ds2007
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Postby ds2007 » Wed Jun 06, 2012 1:32 pm

I appreciate your response, paupau, it gets me one step closer.
ds2007
Doug

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TheRumpledOne
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Postby TheRumpledOne » Fri Jun 08, 2012 4:26 am

Look in the MOTHERLODES for the range gauge.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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adrian2012
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Postby adrian2012 » Mon Jul 16, 2012 10:43 am

A few questions:

1) I know the stop loss is 10 pips for a Rat Reversal when we're looking on lower time frame charts such as 5m or 1H, does the same stop loss suggestion hold true for DAILY time frame entries?

2) When we're looking for DAILY Rat Reversals, I'd assume we'd wait until Mondays trading was over with and start making decisions on Tuesday onwards, correct? Otherwise, we wouldn't have a clear criteria for Mondays entry.

3) What's a good time to start scanning for DAILY Rat Reversals? My hunch says sometime around 8AM EST would be ideal.

thanks in advance.

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TheRumpledOne
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Postby TheRumpledOne » Tue Jul 17, 2012 10:52 pm

1) PRICE IS THE SAME ON ALL TIME FRAMES.

2) NO, you can have a RAT REVERSAL on a Monday.

3) Anytime the market is open.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby deltaskelta » Wed Jul 18, 2012 7:31 pm

Looking at the rat reversal, lots of times people ask specific questions about what to do, but I think the more important part of things is to understand why the strategy works, and the rest will explain itself.

Anyway from my reading I understand that one is trying to catch a price retracement from an extreme, or a reversal if we are extra lucky.

1. Trade management is key, one can take a quick scalp, or scalp some profit to take a free gamble on a full reversal, etc (manage it however the trader sees fit)
2. waiting for the green candle to close shows some sign that price is going to reverse, so we are not just trying to catch a falling knife.
3. the price extreme should be looked at in context of the daily norms/ranges to determine that a significant move has been made.

The one part I am a little fuzzy on is the implications of being a single colored rat.

for exmaple:

Image

FYI, I have read the yale experiment thing, and I do understand it, but should a green rat be going long here? It just seems suicidal doesn't it?

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Postby TheRumpledOne » Wed Jul 18, 2012 10:44 pm

This should answer your question...

1) price within 20 pips of the daily low - that is OPPORTUNITY

2) red candle closes

3) green candle closes - note the high price of the green candle.

4) enter long at the green candle's high price

5) STOP LOSS IS 10 PIPS

6) Take whatever profit you can.

7) If the rules do not mention it, then it is of no concern.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby deltaskelta » Thu Jul 19, 2012 12:12 am

TheRumpledOne wrote:This should answer your question...

1) price within 20 pips of the daily low - that is OPPORTUNITY

2) red candle closes

3) green candle closes - note the high price of the green candle.

4) enter long at the green candle's high price

5) STOP LOSS IS 10 PIPS

6) Take whatever profit you can.

7) If the rules do not mention it, then it is of no concern.


ok, then, just a simple yes/no question.

Since we are only concerned when price is 20 pips near daily LOW, then red rats and green rats must always trade off daily low, never daily high

Yes/no?

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Postby TheRumpledOne » Thu Jul 19, 2012 12:14 am

Green rats trade long off the daily low.

GREEN RAT REVERSAL - LONG ENTRY CRITERIA:
1) RED CANDLE CLOSES
2) GREEN CANDLE CLOSES
3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS.

Red rats trade short off the daily high.

RED RAT REVERSAL - SHORT ENTRY CRITERIA:
1) GREEN CANDLE CLOSES
2) RED CANDLE CLOSES
3) PRICE TOUCHES LOW OF PREVIOUS RED CANDLE - ENTER SHORT. STOP LOSS IS ALWAYS 10 PIPS.

Can anyone say it simpler?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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adrian2012
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Postby adrian2012 » Thu Jul 19, 2012 2:36 am

Is it okay if I place pictures of trade setups forming in this forum (specifically daily rat reversals) or would that be considered noise? Sometimes it helps me to journal trades visually and hear other peoples opinions on a trade. Just trying to stay kosher...

*Actually, I'll guess I'll post until someone tells me otherwise...

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