NEVER LOSE AGAIN!! - TheRumpledOne

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TRO,

About your H1 trade (previous bar low/high breakout). Are the results better with a 60 min chart than a shorter timeframe?

Thanks for your help.

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Silvester17

TRO,

About your H1 trade (previous bar low/high breakout). Are the results better with a 60 min chart than a shorter timeframe?

Thanks for your help.

DO NOT BE FOOLED.

PRICE IS THE SAME ON ALL TIME FRAMES.

The results don't vary that much.

Think about it....

You enter a trade on a "shorter" time frame. What happens if the trade is still open at the close of the bar? Do you exit? Do you add another trade?

You have to LET GO of your "old ways" of thinking.

Once you enter a trade, THE ONLY THING THAT MATTERS IS PRICE!

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Successful "Rat Trade" at the break of new highs on the YM. Had to sweat it but did get +7 ticks before closing out.

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HJay

Successful "Rat Trade" at the break of new highs on the YM. Had to sweat it but did get +7 ticks before closing out.

I do not understand.

Were you going short at the high?

Were you reversing after the high?

How the rat would trade because the rat would win 2 out of 3 trades by trading as follows:

If previous bar is red, then look to go short at the previous bar low.

If previous bar is green, then look to go long at the previous bar high.

Remember, once you hit your daily goal QUIT TRADING or else the rat will beat you.

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This is the set up, as I understood from the thread, "After a new high is met, and a RED candle forms. If it pulls back to a predrawn line (in this case I have it every 5 ticks not 10) and crosses it, go short".. Price is either making new highs, or retreating from it.. Did I misunderstand?

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HJay

This is the set up, as I understood from the thread, "After a new high is met, and a RED candle forms. If it pulls back to a predrawn line (in this case I have it every 5 ticks not 10) and crosses it, go short".. Price is either making new highs, or retreating from it.. Did I misunderstand?

No, you did not.

I couldn't tell from your chart what you did and why.

It looks like you shorted 12 ticks from the high? Am I reading it correctly?

Thanks for explaining.

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Cool.. thanks, actually after reading it again I actually entered on a RED candle not AFTER the red candle. So I have tuning to do but this is a learning process and I greatly appreciate the input!

UPDATE: Yes, so it makes a new high at 9568, at that time I see a RED candle follow (3 minute), I look to the down stairs and say if it breaks the 9555 line (pre-drawn) I would enter. That is what I did (9554) and exited (2) at +7, slid the last one to break even (which stopped out)

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HJay

Cool.. thanks, actually after reading it again I actually entered on a RED candle not AFTER the red candle. So I have tuning to do but this is a learning process and I greatly appreciate the input!

There are TWO different "RAT" trades:

1) Reversing off DAILY high/low

2) Breaking out of previous green high or previous red low.

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Yes, so this was #1) "Reversing of of Daily High".. granted it was not a huge move, but then again who knew..

BTW another just triggered and was much more successful here at the close..

NEVER LOSE AGAIN!! - TheRumpledOne

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