DRAIN THE BANKS!! TheRumpledOne - page 29
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
OPPORTUNITY...
RESULTS.
RESULTS.
OPPORTUNITY...
DRAIN THE BANKS - LIKE A RAT!
GREEN RAT REVERSAL TRADE 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."
Evening,
Interesting this. I've been looking at using this on GBP/USD. Im not a fan of scalping as I find im my own worst enemy hoever using this strategy on the 1H time frame produces some successful results.
Looking on the 5 Min I noticed there would be a few stopped out but im guessing the ammount of winners you have well outnumber the losses? Like you say take what profit you can which is where I think I would have the problem which is why I liked it on the longer timeframe.
Thanks for this.
Regards
Rump.
RESULTS.
Evening, Interesting this. I've been looking at using this on GBP/USD. Im not a fan of scalping as I find im my own worst enemy hoever using this strategy on the 1H time frame produces some successful results. Looking on the 5 Min I noticed there would be a few stopped out but im guessing the ammount of winners you have well outnumber the losses? Like you say take what profit you can which is where I think I would have the problem which is why I liked it on the longer timeframe. Thanks for this. Regards Rump.
This is NOT time frame dependent. The daily low is the same on all time frames.
Apologies I probably explained my reason incorrectly, I agree the timeframe does not matter but I was saying that I use the method on the 1 hour and aim for around 15 pips. Im sure using the 5 min you get a lot more but as I said I am no scalper so prefer the the longer frame for a less stressful trade at a price of less pips.
OPPORTUNITY...