DRAIN THE BANKS

[TheRumpledOne]

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

[TheRumpledOne]

RESULTS.

[TheRumpledOne]

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

[TheRumpledOne]

RESULTS.

An entry within 20 pips of the daily low, provided an opportunity to make 10 pips or more.

[TheRumpledOne]

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

[TheRumpledOne]

RESULTS.

[imrtl]

Hey TRO, great simple method you have here, so I thought I would give it a shot today. I use ninjatrader instead of metatrader so I have to eyeball everything, but that's not too hard. I'll have to work on coding some of it to make it easier to follow all the pairs eventually.

Traded it today on futures contracts( i know not the same as forex but what the hell), 6a,6e,6b,6c all of them made 10+ pips between the 7am-8am GMT. And I missed a trade on the 6j, that would have made 10+ pips also.
couple were dicey being below the weekly open but I took the trades anyway. So while my entries weren't perfect, but I made $$ so that's all that counts in my book.

I don't really put much faith in backtesting(as I don't care if it was a winner in the past, the present is what matters), or simulated trading as many others do. So i just jumped in with both feet real money. Heck the stops are small and the setup is simple enough that if you can't understand it, definitely don't trade it.

Just thought I would share, my results today.

have a great day!!

[TheRumpledOne]

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

[TheRumpledOne]

Hey TRO, great simple method you have here, so I thought I would give it a shot today. I use ninjatrader instead of metatrader so I have to eyeball everything, but that's not too hard. I'll have to work on coding some of it to make it easier to follow all the pairs eventually.

Traded it today on futures contracts( i know not the same as forex but what the hell), 6a,6e,6b,6c all of them made 10+ pips between the 7am-8am GMT. And I missed a trade on the 6j, that would have made 10+ pips also.
couple were dicey being below the weekly open but I took the trades anyway. So while my entries weren't perfect, but I made $$ so that's all that counts in my book.

I don't really put much faith in backtesting(as I don't care if it was a winner in the past, the present is what matters), or simulated trading as many others do. So i just jumped in with both feet real money. Heck the stops are small and the setup is simple enough that if you can't understand it, definitely don't trade it.

Just thought I would share, my results today.

have a great day!!

Nice trading!!

[TheRumpledOne]

RESULTS.

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 daily high/low" is the BEST possible entry to get the maximum run BUT the RAT REVERSAL entry works ANYWHERE on the chart.


GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS.


RED RAT REVERSAL - SHORT ENTRY CRITERIA: 1) GREEN CANDLE CLOSES 2) RED CANDLE CLOSES 3) PRICE TOUCHES LOW OF PREVIOUS RED CANDLE - ENTER SHORT. STOP LOSS IS ALWAYS 10 PIPS.