TRADING IS SIMPLE ... (TheRumpledOne)

Discussion in 'Forex' started by TheRumpledOne, Jan 2, 2012.

  1. What "wick" are you talking about??
     
    #171     Feb 29, 2012
  2. Macho

    Macho

    Damn, the very chart I was going to refer to on page 26 has been removed!! I seem to recall that there might have been 4 or 5 pips in your illustration on that chart.

    See if I can describe iit in words.

    <20 from low.

    A green popped up. For argument sake closed 46. Was high as 48 (wick=2). Next 5 minute bar eventually got to 48 (2 pip 'wick').

    Would that signal a BUY?

    If not, what is the minimum number of pips ,from high to close of previous bar ,would create a prompt to buy?

    Edit: My mistake, not page 26. It was a different forum,fxfisherman,entry #19, page 2. Under the title "Drain the Banks"
     
    #172     Feb 29, 2012
  3. [​IMG]

    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.
     
    #173     Feb 29, 2012
  4. NOT AT ALL!!

    The LONG ENTRY is within 20 pips of the current daily low, NOT the current daily high!!
     
    #174     Feb 29, 2012
  5. [​IMG]

    Once again....


    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.
     
    #175     Feb 29, 2012
  6. Tro's exit strategy

    6) Take whatever profit you can.

    That isn't a clearly defined exit in my opinion.
     
    #176     Feb 29, 2012
  7. He posted an exit strategy a good deal more detailed than that earlier in the thread. It is there, go and look.
     
    #177     Feb 29, 2012
  8. Macho

    Macho

    Ok . Poor reference on my part.

    So getting back to my written example where current price <20 pips of current daily low.

    If there is a green that closed ,say 46 but the high was 48 in that 5 minute bar.Is the prompt for a BUY at 48 on the next bar.That being 2 pips above the closing price?

    If not, what is the minimum number of pips to cover you would accept to create the trade on the next 5 minute bar?
     
    #178     Feb 29, 2012
  9. exit strategy in quotes below.

     
    #179     Feb 29, 2012
  10. I'll take your word for it.
     
    #180     Mar 1, 2012