2009.11.05 DRAIN THE BANKS - REV 9

[TheRumpledOne]

I want to drain the banks Asian market time.
New hi and low of day often very close together.
Does this matter?

You can either wait for price to move the high and low apart or trade what you see at the time.

Price usually moves deliberately during the Asian session with a few spikes thrown in to keep your attention.

[TheRumpledOne]

I wonder if this is what Footrot is talking about. If not, then it is a question I have. When your bar time is really different from your local time. Can you offset the time so that it the indicator doesn't reset in the middle of your trading time?

What indicator are you talking about?

It really doesn't matter because price is still going to go up and down no matter how your chart is set or when your indicator resets.

[gangsta1]

What timeframe is everyone using for the rat reversals? I get alot of stop outs on the m5 so was thinking to move up to the m15/h1. TRO would you say there are less false signals on the higher timeframes?

[TheRumpledOne]

There is no such thing as a false signal.

Remember the "rule of thumb" - DO NOT TRADE AGAINST THE H1 CANDLE COLOR?

If price is going down and puts in a new low, chances are the H1 is red. You can wait for H1 to close. Sometimes, price may have retraced 20 or more pips and sometimes not.

Waiting for H1 to close, allows you to watch the price action. Many times, the new H1 candle will test the low, fail to make a new low and reverse to become a green H1 candle.

[milind2754]

How to use Drain the banks REV9 code for 5 min timeframe ?

[TheRumpledOne]

REV9 is not meant to be used on M5.

[The_Pin]

REV9 is not meant to be used on M5.

Most charts I see here is m5. It`s a bit confusing.
20pips and BO, 20pips and BO, 20pips and BO. Can I fit H1 chart in it. No I can`t, the average is more than 20pips (eg GPB/USD). So maybe m30 chart? Can do. What about less than m30? Can do. Does it matter or what matters? PROFIT MATTERS.
Try m1 chart. You have profit. Good, continue. No? Leave it.
Try m5 chart. You have profit. Good, continue. No? Leave it.
Try m15 chart. You have profit. Good, continue. No? Leave it.
Try m30 chart. You have profit. Good, continue. No? Leave it.

Any reason to enter when price is in the 20 pip zone is all you need. The trigger itself does not matter. It is a matter of LOCATION.

What`s Your Opinion?

[trueblueTEX]

No, they don't.

I am!!!

Been reading TONS of stuff by and about TRO on several threads (including the archived BabyPips thread -- though only on page 8 or 9 of that one).

This is my first post.

There will be more

What time do you and/or others meet on PalTalk??

Ciao for now
Tex

[trueblueTEX]

Howdy, again , folks!!

I downloaded PalTalk (got a nice virus for my troubles ) and I've created my PalTalk account ("trueblueTEX", just like in here -- that's my handle in lots of places including Skype and FF) ....

BUT,

I can't find "two percent club".

Does it only "appear" when y'all are online?

Or do I need to be specifically invited?

Thanks
TEX

[trueblueTEX]

Found it!