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The_Snowman
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Postby The_Snowman » Mon Oct 04, 2010 5:16 pm

adaseb wrote:This is not a bad method but you need to factor in how emotionally draining it can be to trade all day to get 20 pips and then lose it entirely in one trade.

Sure you can trade at $10-20/pip and make some good money with your 20 pips. But imagine starting the day off with a loser, then another loser.

Scalping is more like, risking 2 pips to make 20 pips.


Thanks for your concern, quite ironic coming from someone with a BANK ROBBER as an avatar, and calls himself ROB BANKS :D

Scalping is similar to robbing banks, that is, short hours for good pay, so I thought you would be more supportive. :o

This has been expressed quite a few times on the Drain The Banks thread, and it is still going strong 230+ pages,.

However, I am taking your advice and will be more selective with the trades that I take; I made quite a few (on DEMO) to get an initial understanding of the price action, as it counter trend not to mention counter intuitive.

Another thing to all readers, OK for you to say what doesn't work, how about telling us what does work for you?

You see, you don't have to use Rat Zone to scalp trade, you can use it to confirm other 'conventional' trade entry techniques. I will post a chart soon to explain. The point being, if Rat Zone helps us focus on the price action, price patterns, price direction, that can be very helpful, right?

My demo account expired in the middle of a session today, so good opportunity for me to start fresh research with a reset account 8)

:!: :!:

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adaseb
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Postby adaseb » Mon Oct 04, 2010 7:16 pm

The_Snowman wrote:
adaseb wrote:This is not a bad method but you need to factor in how emotionally draining it can be to trade all day to get 20 pips and then lose it entirely in one trade.

Sure you can trade at $10-20/pip and make some good money with your 20 pips. But imagine starting the day off with a loser, then another loser.

Scalping is more like, risking 2 pips to make 20 pips.


Thanks for your concern, quite ironic coming from someone with a BANK ROBBER as an avatar, and calls himself ROB BANKS :D

Scalping is similar to robbing banks, that is, short hours for good pay, so I thought you would be more supportive. :o

This has been expressed quite a few times on the Drain The Banks thread, and it is still going strong 230+ pages,.

However, I am taking your advice and will be more selective with the trades that I take; I made quite a few (on DEMO) to get an initial understanding of the price action, as it counter trend not to mention counter intuitive.

Another thing to all readers, OK for you to say what doesn't work, how about telling us what does work for you?

You see, you don't have to use Rat Zone to scalp trade, you can use it to confirm other 'conventional' trade entry techniques. I will post a chart soon to explain. The point being, if Rat Zone helps us focus on the price action, price patterns, price direction, that can be very helpful, right?

My demo account expired in the middle of a session today, so good opportunity for me to start fresh research with a reset account 8)

:!: :!:


I was afraid you would take my post the wrong way.

I am not saying this is a bad method or this method doesn't work

All I was saying is try to imagine yourself trading all day to make 20 pips and then have one trade take it all away.

It would be emotionally draining and would most likely make most traders make irrational trading decisions such as reversing their trade in spite of haste. On demo this doesn't happen, it does with real money.

If it works for you then good, all I was trying to say is imagine trading this method live.

Keep up the good work.

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The_Snowman
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Postby The_Snowman » Tue Oct 05, 2010 7:18 am

adaseb wrote:
The_Snowman wrote:
adaseb wrote:This is not a bad method but you need to factor in how emotionally draining it can be to trade all day to get 20 pips and then lose it entirely in one trade.

Sure you can trade at $10-20/pip and make some good money with your 20 pips. But imagine starting the day off with a loser, then another loser.

Scalping is more like, risking 2 pips to make 20 pips.


Thanks for your concern, quite ironic coming from someone with a BANK ROBBER as an avatar, and calls himself ROB BANKS :D

Scalping is similar to robbing banks, that is, short hours for good pay, so I thought you would be more supportive. :o

This has been expressed quite a few times on the Drain The Banks thread, and it is still going strong 230+ pages,.

However, I am taking your advice and will be more selective with the trades that I take; I made quite a few (on DEMO) to get an initial understanding of the price action, as it counter trend not to mention counter intuitive.

Another thing to all readers, OK for you to say what doesn't work, how about telling us what does work for you?

You see, you don't have to use Rat Zone to scalp trade, you can use it to confirm other 'conventional' trade entry techniques. I will post a chart soon to explain. The point being, if Rat Zone helps us focus on the price action, price patterns, price direction, that can be very helpful, right?

My demo account expired in the middle of a session today, so good opportunity for me to start fresh research with a reset account 8)

:!: :!:


I was afraid you would take my post the wrong way.

I am not saying this is a bad method or this method doesn't work

All I was saying is try to imagine yourself trading all day to make 20 pips and then have one trade take it all away.

It would be emotionally draining and would most likely make most traders make irrational trading decisions such as reversing their trade in spite of haste. On demo this doesn't happen, it does with real money.

If it works for you then good, all I was trying to say is imagine trading this method live.

Keep up the good work.


Hey, I didn't take it the wrong way, hence all the :)

Here is a TRO quote for digestion -

Posted: Tue Jun 29, 2010 4:27 pm

if price moves in your favor 2 pips and then stops...

if you do not take 2 pips and lose 10

who is to blame?

here's what happens...

first trade...

price moves up 2 and stops

trader takes 2 pips and then price zooms up another 20 + pips

trader gets mad

second trade

price moves up 2 pips and stops

trader THINKS and decides NOT to take the 2 pips

price drops and stops trader out

so... 2 + 2 = 4 (RAT)

or

2 - 10 = -8 (YALE STUDENT)

YOU DECIDE

WHEN PRICE STOPS MOVING... DO YOU KNOW WHAT WILL HAPPEN NEXT?

the idea is to be PROFITABLE PERIOD

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The_Snowman
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what to do

Postby The_Snowman » Tue Oct 05, 2010 9:55 am

Wow, got a 50% Fib on today's drop, then a 38.2% retracement on the next down leg, and not a Rat Zone in sight :P
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aus fibs.png
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The_Snowman
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Postby The_Snowman » Tue Oct 05, 2010 10:37 am

Got to like this indicator, you probably cannot read the text in the yellow boxes I drew, but it say Top Daily Range & Bottom Daily Range, probably end up back at the Pivot Point
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Postby genlogins » Sun Dec 12, 2010 11:01 pm

adaseb wrote:
The_Snowman wrote:
adaseb wrote:This is not a bad method but you need to factor in how emotionally draining it can be to trade all day to get 20 pips and then lose it entirely in one trade.

Sure you can trade at $10-20/pip and make some good money with your 20 pips. But imagine starting the day off with a loser, then another loser.

Scalping is more like, risking 2 pips to make 20 pips.


Thanks for your concern, quite ironic coming from someone with a BANK ROBBER as an avatar, and calls himself ROB BANKS :D

Scalping is similar to robbing banks, that is, short hours for good pay, so I thought you would be more supportive. :o

This has been expressed quite a few times on the Drain The Banks thread, and it is still going strong 230+ pages,.

However, I am taking your advice and will be more selective with the trades that I take; I made quite a few (on DEMO) to get an initial understanding of the price action, as it counter trend not to mention counter intuitive.

Another thing to all readers, OK for you to say what doesn't work, how about telling us what does work for you?

You see, you don't have to use Rat Zone to scalp trade, you can use it to confirm other 'conventional' trade entry techniques. I will post a chart soon to explain. The point being, if Rat Zone helps us focus on the price action, price patterns, price direction, that can be very helpful, right?

My demo account expired in the middle of a session today, so good opportunity for me to start fresh research with a reset account 8)

:!: :!:


I was afraid you would take my post the wrong way.

I am not saying this is a bad method or this method doesn't work

All I was saying is try to imagine yourself trading all day to make 20 pips and then have one trade take it all away.

It would be emotionally draining and would most likely make most traders make irrational trading decisions such as reversing their trade in spite of haste. On demo this doesn't happen, it does with real money.

If it works for you then good, all I was trying to say is imagine trading this method live.

Keep up the good work.




I totally agree with Adaseb, I was a scalper for 10 seconds in each candle.

Most times I would take 3 orders per 1 minute candle and take constantly 0.4 of a pip.

But I always had a SL=2.2 pips the minimum allowed by my broker.

Sometimes the SL would be hitted and it would take 6 positive trades to get that loss covered.


If you are fast like me, you could make about 3 trades per minute candle and not let them run for more than 10 seconds.

I would normally do that for 3 hours a days, because it was exhausting for brain and physical.

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