PTG wrote:pablo101 wrote:This helps a lot! Thanks PTG
Great, thanks !
I just wonder how this compares to the rat reversal trick. I suppose the difference is that the RR requires you to blindlessly take, within 20 pips of any daily extreme up to the real extreme, which you don't know upfront but only in hindsight, any trade with a 10 pip s/l and within 20 pips from the extreme under the assumption that whatever you assume in terms of direction can be wrong. Sounds to me like I might as well take a 3LZZ indi and take any 1H/15M trade. Or flip a coin, as long as I have the right M/M (you know, cut losses, let profits run).
I think that's why at the end of the day M/M and exit strategy together with trading psychology are more important than the entry method.
Thats why I never had much interest in this "Rat" system. Its like flipping a coin.
I think inside bars are much better because even if you get stopped out on one, chances are you will make your loss back going the other way.