2009.09.10 DRAIN THE BANKS - LIKE A RAT

[tfg]

Weekly extremes have much more potential for rat reversals.

Zapzinig,

What indicator do you use to display the lines of weekly high/low?

tfg

[zapzinig]

Weekly extremes have much more potential for rat reversals.

Zapzinig,

What indicator do you use to display the lines of weekly high/low?

tfg

II_CrashZone

[Makamilman]

I used to trade futures on TS. I wish I new the DTB system then. I used the Matrix Window to enter, edit, and delete orders. It was the greatest tool. Single click to enter and adjust orders. You could easily move your stop by clicking and dragging up the numbers.
Using MT4 seems awkward having to right click on the screen then modify order then press OK and so on. Manually enter order numbers takes too long.
There has to be a better way. To be the quick rat on MT4, I seem to have to adjust my stop in a hurry to gather pips or be eaten. I?m having a problem with that quick adjustment(s).
Is there a similar tool to TS Matrix to enter, adjust orders on MT4 or what is the fastest way?
If there isn't anything but their current order system, it would be great if someone could code such a tool.

[TheRumpledOne]

I do not use MT4 to trade. I use the MB Trading NAVIGATOR.

[Makamilman]

So do you use MT4 to chart and just trade with the Navigator?

I went on MB's site and only found a link to a developer?s site for the Navigator.

Did I miss something on their site or where do I find the Navigator to explore?

[tfg]

Hi, Avery,

I 've been a green rat doing ok outside the 20 pips daily high/low. However, when I tried green rat trade within the 20 pips daily low, the price kept breaking to a new low and killed the green rat, like catching a falling knife. Clearly, I seem to miss something quite key here but don't know what...?

I trade on M15. Any suggestions that it can help me to better identifying a reversal of daily low? Appreciate it.

tfg

[tommydq]

First day of my modified trading plan for the London Session paid off. Two trades today. The first one I only got a pip. On the second trade I made 10 pips on the first 1/2 of the position and set my profit target to 75% of the daily range assuming the the daily high at the time I entered the trade would be the high of the session. I went back to bed and woke 1.5 hrs later to see the 2nd half position closed at my target for a 63 pip gain. A nice 7.4% profit on 2 trades.

[left]http://i756.photobucket.com/albums/xx202/tommydq/Forex%20Trading%20-%20Two%20Percent%20Per%20Day/2010-06-25.png[/left]

[tommydq]

I'm a red rat and I've had similar problems trading the London session on up days. I've made most of my pips in the green rat zone on down days. The problem as I see it is during the London session is the length daily candle is still being built. Normally at the London open only 1/4 to 1/3 of the daily range has been traversed and often the London session is creating a down move or up move to create the daily range. On up days I've done best taking more trades with 3-5 pips of profit / trade instead of trying to get my 2% in a single trade. But I also get stopped out at 10 pips more often on those days. You may also want to look at USDCAD / USDCHF on days like today. They'll generally be going in the opposite direction of the GBP and EUR pairs.

Hi, Avery,

I 've been a green rat doing ok outside the 20 pips daily high/low. However, when I tried green rat trade within the 20 pips daily low, the price kept breaking to a new low and killed the green rat, like catching a falling knife. Clearly, I seem to miss something quite key here but don't know what...?

I trade on M15. Any suggestions that it can help me to better identifying a reversal of daily low? Appreciate it.

tfg

[TheRumpledOne]

OPPORTUNITY

[TheRumpledOne]

YOUR HOMEWORK...

Study this chart and find the entries.