"Look, for example, at this elegant little experiment. A rat was put in a T-shaped maze with a few morsels of food placed on either the far right
or left side of the enclosure. The placement of the food is randomly
determined, but the dice is rigged: over the long run, the food was
placed on the left side sixty per cent of the time. How did the rat
respond? It quickly realized that the left side was more rewarding. As a
result, it always went to the left, which resulted in a sixty percent
success rate. The rat didn't strive for perfection. It didn't search for
a Unified Theory of the T-shaped maze, or try to decipher the disorder.
Instead, it accepted the inherent uncertainty of the reward and learned
to settle for the best possible alternative.
The experiment was then repeated with Yale undergraduates. Unlike the
rat, their swollen brains stubbornly searched for the elusive pattern
that determined the placement of the reward. They made predictions and
then tried to learn from their prediction errors. The problem was that
there was nothing to predict: the randomness was real. Because the
students refused to settle for a 60 percent success rate, they ended up
with a 52 percent success rate. Although most of the students were
convinced they were making progress towards identifying the underlying
algorithm, they were actually being outsmarted by a rat."
P64 HOW WE DECIDE (italics added)
"Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame (with the obvious limitations explained above)
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist." - H. Rearden
1) Price within 20 pips of the daily low (ClLo <= 20) - 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.
7) If the rules do not mention it, then it is of no concern.
PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
"IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT."
You are on the internet - If you (google) search for it, you'll probably find it.