2009.09.10 DRAIN THE BANKS - LIKE A RAT

[tommydq]

Hi TRO,

I just wanted to thank you and all the contributors to this thread for taking the time to share your experiences. I have dumped all my squiggly lines and have no intention of going back to my Yale applicant ways. A coin toss made me a Red Rat. I'm now in practice, practice, practice mode. Here's my trades for today. I took a 2% loss on the first trade but finished the day +2.6% after dancing around all the news releases in the London Session. I managed +2.2% yesterday. I'm only to about page 60 of the thread but the more I read the more it sinks in.


[left]http://i756.photobucket.com/albums/xx202/tommydq/2010-06-15.jpg[/left]

[TheRumpledOne]

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

[TheRumpledOne]

Hi TRO,

I just wanted to thank you and all the contributors to this thread for taking the time to share your experiences. I have dumped all my squiggly lines and have no intention of going back to my Yale applicant ways. A coin toss made me a Red Rat. I'm now in practice, practice, practice mode. Here's my trades for today. I took a 2% loss on the first trade but finished the day +2.6% after dancing around all the news releases in the London Session. I managed +2.2% yesterday. I'm only to about page 60 of the thread but the more I read the more it sinks in.

Are you practicing with 0.1 minilot of real money?

[tommydq]

I'm in demo mode for now.

Hi TRO,

I just wanted to thank you and all the contributors to this thread for taking the time to share your experiences. I have dumped all my squiggly lines and have no intention of going back to my Yale applicant ways. A coin toss made me a Red Rat. I'm now in practice, practice, practice mode. Here's my trades for today. I took a 2% loss on the first trade but finished the day +2.6% after dancing around all the news releases in the London Session. I managed +2.2% yesterday. I'm only to about page 60 of the thread but the more I read the more it sinks in.

Are you practicing with 0.1 minilot of real money?

[TheRumpledOne]

RESULTS.

Not every trade is a winner. The entry prior to the big run was a losing trade. By sticking with the method and taking the next entry, the loss was recovered and then some.

[TheRumpledOne]

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

[TheRumpledOne]

RESULTS.

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.

"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."

[TheRumpledOne]

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

[tommydq]

Not much practice the last two days but plenty of sleep. Only took 2 trades for 2% and 2.4%. I trade the London open because I live East Coast USA and I work full time. I get up at 3AM and was back in bed by 4AM both yesterday and today. Today felt like deja vu. Impulsive downward moves, a weak consolidation a and "Red Rat" green/red entry for some quick red rat cheese. I'm definitely not overtrading anymore. I did leave a bunch of cheese on the table yesterday though.

[left]http://i756.photobucket.com/albums/xx202/tommydq/2010-06-17.png[/left]

[TheRumpledOne]

RESULTS.

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.

"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."