Drain The Banks Scalper

Hi all,

Most of you have probably heard of a manual trading method called drain the banks. If not, here is a link: http://www.elitetrader.com/vb/showthread.php?threadid=160634&perpage=6&pagenumber=2

This EA is based on the method, but requires a good computer to test.

Anyone with a good computer want to give it a try?

Download the EA and indicator from:

http://www.sendspace.com/file/8ib20y

I recommend the GU m15 chart.

you should change the ReverseSystem and ReverseAtStop settings to true for it to work correctly - otherwise it will place a buy when it should place a sell and vice versa. Very slow to test for me, but the current test is profitable this year.

Drain The Banks method works good when manual trade it and keep following the rules.

So let me test this one :).

Drain The Banks method works good when manual trade it and keep following the rules.

I was under the impression that TRO keeps changing the system. I also get confused when he just repeats his instructions without trying to explain his system in another way.

Could you help by explaining the method?

At the beginning he has a semaphore which will repaint until PA is in a place to fix it. Like fractals etc.

At the end of the thread it is a 'within 20%' system but I have not found the code.

Thanks,

Freddie

I tested 05-2010 to current and as you can see this concept is a total loser. Used default settings.

http://i25.tinypic.com/34yur8j.jpg

http://i28.tinypic.com/2lntj7l.jpg

TRO might be one of the few people who traded DTB profitably....but an EA never will

It's because the system doesn't work with a fixed TP...in this case it's SL/TP = 10/10

As TRO always says..."get whatever you can"....and that means...if it's only 1 pip, so be it.

And an EA can't do that

As far as I know TRO set's his SL to BE+3 as soon as he is 5pips in profit. If he catches a good run he sets SL to BE+10 and lets the trade run...that's how he compensates trades with less than 10 pips profits.

His main system is "Trading like a rat"...it's similar to DTB but hasn't to do with semaphores but LOD/HOD

TRO might be one of the few people who traded DTB profitably....but an EA never will

It's because the system doesn't work with a fixed TP...in this case it's SL/TP = 10/10

As TRO always says..."get whatever you can"....and that means...if it's only 1 pip, so be it.

And an EA can't do that

As far as I know TRO set's his SL to BE+3 as soon as he is 5pips in profit. If he catches a good run he sets SL to BE+10 and lets the trade run...that's how he compensates trades with less than 10 pips profits.

His main system is "Trading like a rat"...it's similar to DTB but hasn't to do with semaphores but LOD/HOD

The EA does not have to match the method exactly (he changes it himself) but as long as we can find profitable settings that is the most important thing. I read about the setting the break even at +3 and then goes on to trail the stop at 10 pips. The ea has break even and trail settings. It would be interesting to test an EA for his new "rat reversal" system, should be very easy to code.

In my experience when it is that far off profitability, its a done deal. Its like trying to give the best medications to a dead person.. it will never revive him/her. I would like to be proven wrong though ;)

Cheers

In my experience when it is that far off profitability, its a done deal. Its like trying to give the best medications to a dead person.. it will never revive him/her. I would like to be proven wrong though ;)

 

Cheers

I disagree. If the EA is taking trades opposite to what it should and its that far off then surely if you change the settings to what they should be, then it will give the opposite results - which would be good. I will do my upmost to prove you wrong, but like I said - it is going to take time because of my processor. On I side note, I am considering paying a programmer to automate the drain the banks system fresh.

Does anyone want to split the cost ($100) of getting the drain the banks like a rat method automated??

Or, maybe somewhere her can code it? The rules are:

1) To trade like a RAT is to ALWAYS trade in ONE DIRECTION - either LONG or SHORT. Once you pick a "team", you can't switch.

2) The "within 20 pips of the daily high/low" is the BEST possible entry to get the maximum run BUT the RAT REVERSAL entry works ANYWHERE on the chart.

GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS.

RED RAT REVERSAL - SHORT ENTRY CRITERIA: 1) GREEN CANDLE CLOSES 2) RED CANDLE CLOSES 3) PRICE TOUCHES LOW OF PREVIOUS RED CANDLE - ENTER SHORT. STOP LOSS IS ALWAYS 10 PIPS.