NEVER LOSE AGAIN!! TheRumpledOne

TheRumpledOne said:
This has nothing to do with volume.
Click to expand...

OK
It's just a sudden thought

=> What do you think about adding a check of the Climax bar in this situation , instead of taking into account of the high price of the green candle ?

Are you sure the H1 TF is the most appropriate in your strategy ?


rgds
 
Where can I find your free E-book? Also you must have sold 1000 copies of your Breakout book as I saw a posting for this book as far back as:?: 2006. Do you have any new books I can get a hold of?
 
2nly2p3.gif


<-------------------------------------------------------------------->

1) Price within 20 pips of the CURRENT daily low (ClLo < 20) - that is OPPORTUNITY

<-------------------------------------------------------------------->

The important part is to enter WITHIN 20 pips of the CURRENT daily low. The RAT REVERSAL is only one entry method.

<-------------------------------------------------------------------->

Trading is GUESSING. If it wasn't, you wouldn't need a STOP LOSS.

THINK ABOUT IT!!


<-------------------------------------------------------------------->

MAXIMUM RISK = 2% * ACCOUNT BALANCE.

STOP LOSS = 10 PIPS. (INCLUDING SPREAD)

POSITION SIZE = RISK / STOP LOSS.

<-------------------------------------------------------------------->

1) To trade like a RAT is to ALWAYS trade in ONE DIRECTION - either LONG or SHORT. Once you pick a "team", you can't switch.

2) The "within 20 pips of the CURRENT daily high/low" is the BEST possible entry to get the maximum run BUT the RAT REVERSAL entry works ANYWHERE on the chart.

<-------------------------------------------------------------------->

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
 
jaguar1637 said:
OK
It's just a sudden thought

=> What do you think about adding a check of the Climax bar in this situation , instead of taking into account of the high price of the green candle ?

Are you sure the H1 TF is the most appropriate in your strategy ?


rgds
Click to expand...

See rule #7 to answer your question about adding things.

PRICE IS THE SAME ON ALL TIME FRAMES. Doesn't matter what chart time frame you use.
 
Doyle4029 said:
Where can I find your free E-book? Also you must have sold 1000 copies of your Breakout book as I saw a posting for this book as far back as:?: 2006. Do you have any new books I can get a hold of?
Click to expand...

You can (google) search to find just about anything.

Forum rules do not allow me to discuss this any further.
 
xmess7 said:
Here's my 1st trade for this month (Live account).
Notice that I did not take the reversal.
Plus, I missed the 141.00 entry, I was still able to catch some pips :)

Any questions let me know :)

EDIT: Sorry for mistake, entry on chart below should read 140.94 not 141.94
s18dw5.jpg
Click to expand...

Nice job your still helping out traders...God bless you Bro!!
 
bunnygirl said:
ok Here's today's 5 min chart so far - arrows marked as before to show the buy & sell bars. If you look closely, you can also see that I've drawn a small line just below / above the 5 min bar that makes the entry.

I don't know how consistent the following statements are, the observations are a "eureka" moment I had this morning, it has not been backtested, but I certainly intend to forward test it here.

I think may have just found the answer to the 2 main complaints about this method of trading:

1) A scalping stop of 20 to 25 pips for a gain of 7 to 10 pips is too big a risk considering a 2 pip sread or more

answer: use 2 pips beyond the opposite side of the 5 min bar that hits the entry as a stop loss (see the small line drawn on each bar with the signal arrow in the chart below for clarification)

2) How to know where to exit?

answer: use the distance from the opposite end of the 5 min bar that hits the entry point and it extend it across the entry line to give you your target.

For example - eurusd new hour opens at 1.2560...it goes down to 1.2558 before then going up....it then crosses the entry line at 1.2575. In this scenario you would go long at 1.2575, your stop would be at 1.2556 (2 pips below the low of the bar) for a maximum 19 pip loss (1.2575 - 1.2556). Your target would then be 19 pips above 1.2575 at 1.2594. Therefore you have a 1:1 risk/reward.

Take a couple of minutes to look at your own 5 min chart because then you can see exact levels to see how accurate this is! If anyone isn't clear about the above suggestion for stop & target just let me know & I'll try again to explain with charts.

Bunny

34ytcu9.png
Click to expand...
Bunny you made it all work...Your Legend still and will always live...Thank you
 
Any one reading this thread should start from the beginning and read in full at least to page 78 to get a basic Idea of price action trading.... Not to mention how It reads Like a book..fascinating & Riveting...It plays out the emotion we have to money and how that emotion needs to be tamed....Enjoy!!
 
orilhf.gif


"Look, for example, at this elegant little experiment. A rat was put in a T-shaped maze with a few morsels of food placed on either the far right or left side of the enclosure. The placement of the food is randomly determined, but the dice is rigged: over the long run, the food was placed on the left side sixty per cent of the time. How did the rat respond? It quickly realized that the left side was more rewarding. As a result, it always went to the left, which resulted in a sixty percent success rate. The rat didn't strive for perfection. It didn't search for a Unified Theory of the T-shaped maze, or try to decipher the disorder. Instead, it accepted the inherent uncertainty of the reward and learned to settle for the best possible alternative.

The experiment was then repeated with Yale undergraduates. Unlike the rat, their swollen brains stubbornly searched for the elusive pattern that determined the placement of the reward. They made predictions and then tried to learn from their prediction errors. The problem was that there was nothing to predict: the randomness was real. Because the students refused to settle for a 60 percent success rate, they ended up with a 52 percent success rate. Although most of the students were convinced they were making progress towards identifying the underlying algorithm, they were actually being outsmarted by a rat."

P64 HOW WE DECIDE (italics added)

=============================================

"Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame (with the obvious limitations explained above)

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist." - H. Rearden

=============================================

1) Price within 20 pips of the CURRENT daily low (ClLo < 20): This is OPPORTUNITY

============================================

WHY ISN'T EVERYBODY DOING IT?

Most of you know I catch a lot of flak on my forums because SOME PEOPLE don't like the way I post.

One worn out argument that is used repeatedly is, "If this is so (simple, great, profitable, ), then why isn't everybody doing it?"

Simple answer is because SOYLENT GREEN is people!

We all know exercise is great, but how many actually exercise?

We all know smoking is bad, but how many do it anyway?

We all know which foods are bad for our health, but how many eat those foods?

We all know that we should save for our future and spend less than we earn but who does that?

The list is almost endless.

As long as there are people, there will always be some STUPID people and some smart people making STUPID decisions, where STUPID is defined as knowing better but acting otherwise.

Meanwhile, the RATS are still beating the Yale students.

=============================================

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
 
TheRumpledOne said:
34ht9if.gif



1) Price within 20 pips of the CURRENT daily low (ClLo < 20): This is OPPORTUNITY

============================================

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the
forum. Thank you.
Click to expand...

How Are You ? It has been awhile. Do you still have my email address ?

Keep On Trucking and Never Give Up !!!:clap:
 
66x84h.gif


1) Price within 20 pips of the CURRENT daily low (ClLo < 20): This is OPPORTUNITY

============================================

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
 
mwqyd4.gif


Notice where the Daily Open was.

--------------------------------------------------------

The important part is to enter WITHIN 20 pips of the daily low. The RAT REVERSAL is only one entry method.

<-------------------------------------------------------------------->

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
 
p60qd.gif


Let's clear things up:

1) To trade like a RAT is to ALWAYS trade in ONE DIRECTION - either LONG or SHORT. Once you pick a "team", you can't switch.

2) The "within 20 pips of the CURRENT daily high/low" is the BEST possible entry to get the maximum run BUT the RAT REVERSAL entry works ANYWHERE on the chart.

Trading is GUESSING. If it wasn't, you wouldn't need a STOP LOSS. THINK ABOUT IT!!


The important part is to enter WITHIN 20 pips of the CURRENT daily low. The RAT REVERSAL is only one entry method.


<-------------------------------------------------------------------->

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
 
34opwdt.gif


As many of you may know, I have moved back to my ranch. At the moment, I don't have 24/7 internet access due to the rural location. This will change my trading style. I will use the DAILY RAT and look for entry opportunities at/near the weekly open price and at/near the weekly ATR zones. I can set and forget these trades.

There are videos of the ranch on my YouTube channel. I'll be making a video on my new trading style soon.

In the chart above, the EURJPY had a RAT REVERSAL setup on the daily chart AND the entry was near the weekly open price. This is an example of the trades I will be doing.

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
 
TheRumpledOne said:
34opwdt.gif


As many of you may know, I have moved back to my ranch. At the moment, I don't have 24/7 internet access due to the rural location. This will change my trading style. I will use the DAILY RAT and look for entry opportunities at/near the weekly open price and at/near the weekly ATR zones. I can set and forget these trades.

There are videos of the ranch on my YouTube channel. I'll be making a video on my new trading style soon.

In the chart above, the EURJPY had a RAT REVERSAL setup on the daily chart AND the entry was near the weekly open price. This is an example of the trades I will be doing.

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Click to expand...

Looking forward to the new trading videos!

I have watched all your other videos; great stuff, really enjoyed them & always click the "(y)"

Regards, John
 
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