I just got finished deleting all the off-topic posts about TRO's ban and his return etc. I did leave a few if I felt the poster tried to make a thoughtful post and not just some kind of comeback. I tried to let a few of you get one last word on the matter but I deleted subsequent posts. I hope that makes sense, it took me a while to read them all again and it was quite painful.
Now we can continue the discussion if everyone remains on topic. I'll be deleting any off-topic posts as I think everything that needs to be said has already been said. If I have to spend too much time deleting off topic posts then I will just close the thread as I really don't have time for it.
I think the beginning of this thread contains a lot of useful information and I do not want to see that ruined, I prefer to preserve it as much as I can.
If you want to discuss the rat trades and post examples that would be great. I wanted to practice it a bit but I haven't had time. I hope to be able to contribute to the discussion. And as I said earlier, anyone who really wants to pursue this should probably do so with TRO on his forum.
Thanks for your understanding, and if you have anything off topic to say or complain about, please send it to me via a PM. Thanks.
you will need slingshot, and wmacolored from the indicator section.
The basic concept is just to trade the waves. Smaller ones are the slingshot 6-12 wma. Bigger ones are the 3 yellow @ 48-60 wma. The largest colored on slope at 160wma. I use a small timeframe and zoom out about as far out as I can....
........... back to the TRO setup...............
One of the things I hope is in Ninja 7 will be the capability like in metatrader to have 1 hr candles overlaid on the top pane with price candles from a smaller timeframe. As you can see by looking at PTG1's setup above it is a neat idea to show what is going on... We always want what we can't have....
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Amen. I just wish everyone knew how long it took me to learn it.
The simple truth is that commissions do NOT matter if every trade you make is profitable, even by one tick. The broker MAY end up making more than you, but if every trade is profitable (I know that is NOT possible), then you are paying from your winnings.
If you are so worried about the commissions that you hold on for home runs and keep getting stopped out, then you are paying those commissions from your pocket instead of your winnings. If the trade turns bad, take a 2 tick profit if you can and get out.
If the market turns and goes your original way, so what? Lament ONCE, then forget about it and look for the next trade; there is always another one, and you did NOT lose any money. That is the only important thing.
Most trades are small losers or small winners. Once in a while you get to ride a big winner. Make sure you have more small wins than small losses. You will be surprised at how those small gains add up.
There is only one way to pay minimum commissions. Do not trade at all, and your commissions will be zero. Unfortunately, so will your winnings.
Small wins, a shallow memory: that is the ticket. You need to keep a shallow memory, because your trade journal will keep all that you will need to review later. You DO have a trade journal, right? (Just to be clear, that is a rhetorical question, not one that I am asking directly of TRO).
Maybe I posted this here a while back. If so, apologies. On reading this thread some time ago, I put together an 'AshRat' indicator that simply plots the entry point following each bar. i.e. if the bar is an up bar, the next entry pt is 1 tick above it. Also plots where the stop/reversal will be.
I also have RangeBarHighLow projecting where the bar will end and with Renkos you can do this easily. Also Renkos (using SbS Renkos) are a reversing indicator which makes it that much better for Rat-type trading.
For some reason the RBHL is printing two dashes in each plot, one the desired color and one a white thing. No idea why. But it handy with Range bars (when working properly which it used to last time I loaded it!).
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Chart: in my color scheme, bull is gold/yellow, bear is blue. So the gold hash marks are buy entries (Rat style) and the steelblue hashes re sell entries. The outer lines are based on Donchians and designed to help determine when trading with longer trend or not. If market is making lower lows or higher highs only one will plot. If sideways there will be both. They are not necessary, but there they are.
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