DRAIN THE BANKS!! TheRumpledOne - page 7
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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."
OPPORTUNITY...
RED RAT GOT CHEESE
RED RAT OPPORTUNITY...
RED RAT ACTION...
GOT CHEESE?
The chance that the upper wick (daily high - candle top) will be more than 20 pips in length is what I look to exploit for profit.
Based on frequency distribution, this occurs over 66% of the time.
HERE WE GO AGAIN...
Just have to WAIT for the price to get into the RED RAT REVERSAL ZONE to begin trading
1) price within 20 pips of the daily low - that is OPPORTUNITY
2) red candle closes
2) red candle closes
2) red candle closes
Trading is waiting... you must learn to wait for you entry trigger.
3) green candle closes - note the high price of the green candle.
4) enter long at the green candle's high price
4) enter long at the green candle's high price
5) STOP LOSS IS 10 PIPS
6) Take whatever profit you can.
You could have made 10 or more pips for a 2% gain.
"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."
More information about THE RAT:
Language Log: Rats beat Yalies: Doing better by getting less information?