Confessions of a rat

[roger h]

Confessions of a rat.

No evidence of it but it is believed that 9 out of 10 of us are destined to be a Cat’s lunch. We see cheese (Mercedes 600) in a room of full of predators. How do we not end up prey and get that stinking cheese? Here’s how:

#1 You do not want to trade.

#2 Are your indicators in place? Have more than one, ideally two.

#3 If they are trade; but remember #1.

#4 If they are not or if only 1 of the indicators is compliant, watch for 1 full minute. If the conforming indicator changes forget the trade. If the conforming indicator continues to conform but after the full minute, the non-conforming indicator has acted weird, also forget the trade. If the conforming indicator remains compliant during that minute and the non-confroming indicator remains unchanged but not worse, then trade but remember #1.

#5 Watch your ass (position).

#6 Never open a 2nd position unless your indicators have reversed. For example if you short the dollar for 100,000 and your indicators have reversed giving you a profit, then you may consider a trade of long dollar for 200,000. Net long dollar 100,000.

#7 Select the time you will trade 5pm-6pm Hong Kong and 10pm Hong Kong.

#8 Decide the # of pips you will accept each session.

#9 Stick with the time and with the # of pips.

#10 When the pips are achieved, move on because #1.

#11 “Winners never quit” does not apply to rats.

#12 Do not get cocky, you are a rat.

#13 Wacth what you trade. BUY or SELL? # of units? What pair? BE CAREFUL.Confessions of a rat.

[xenolith]

Wow man, that's good.

Everyone gets greedy now and then, and it's important to set a target, after which you stop trading and enjoy the rest of the day. Limiting risk is key.

I've got you ask you though, Roger, what two or three indicators do you use to make your trades? And just how much cheese (pips) do you set as a target?

[BillF]

Roger,

Spot on - love your 13 pt. recipe for being a rat.

I'm a dragon in the Chinese calendar so I must think up a similar sequence for dragons - mind you I have indirectly - see my thread about "not fiddling" and exasperation!

(http://www.moneytec.com/forums/showt...6734#post16734 and http://www.moneytec.com/forums/_show...eadid-3557/_s-)

Bill..

[roger h]

Hey Xenolith,

I can't figure out pivots, resistances & supports much less anything else and have given up on the "system" - Rezo has been doing a great job in his commentary!
I've gone all out 1:20 margin on Long Eur/USD, never been called yet. I've added to positions each time margin has been available.
I think its pretty easy, the market has no logic only emotions of teenagers raging hormones; so the yapping whippersnappers have spoken for and will take it to 1.2500 by the end of the year and 1.3000 by Feb04

Hey Bill,

Thats exactly right the more you look at it the more you fiddle with it. Great piece, love it!

[Wik]

Hi Bill,

Let's do a dragons' rules! Since Dragons are quite different from Rats (mainly character) it will be a bit different, but definitely #13 should be there!!!!