be-positive
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This is pathetic stop now -4
This is pathetic stop now -4
stopped -1 pip
be-positive
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good luck long here from 81
Last edited:
be-positive
Veteren member
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Stopped -5 and good night
ok that will do
yes, when it does not work, it is better to do something else.
and I did not...........:whistling
but this time went well, risked 6 made 54, can you the reason to take profit at the previous swing? and not to take any partial profit during the way.....it was easy for me because I was sleeping....:smart:.....but made my day(night)
GU 5m
Attachments
it was, my timing was wrong.....just a tiny little
Attachments
TURTLE SOUP:
FOR BUYS (SELLS ARE REVERSED)
1. Today must make a new 20-day low-the lower the better.
2. The previous 20-day low must have occurred at least four trading sessions
earlier. This is very important.
3. After the market falls below the prior 20-day low, place an entry buy stop
5-10 ticks above the previous 20-day low. This buy stop is good for today only.
4. If the buy stop is filled, immediately place an initial good-till -canceled sell
stop-loss one tick under today's low.
5. As the position becomes profitable, use a trailing stop to prevent giving back
profits. Some of these trades will last two to three hours and some will last a
few days. Due to the volatility and the noise at these 20-day high and
low points, each market behaves differently.
6. Re-entry Rule: If you are stopped out on either day one or day two of the
trade, you may re-enter on a buy Stop at your original entry price level (day
one and day two only). By doing this, you should increase your profitability
by a small amount.
FOR BUYS (SELLS ARE REVERSED)
1. Today must make a new 20-day low-the lower the better.
2. The previous 20-day low must have occurred at least four trading sessions
earlier. This is very important.
3. After the market falls below the prior 20-day low, place an entry buy stop
5-10 ticks above the previous 20-day low. This buy stop is good for today only.
4. If the buy stop is filled, immediately place an initial good-till -canceled sell
stop-loss one tick under today's low.
5. As the position becomes profitable, use a trailing stop to prevent giving back
profits. Some of these trades will last two to three hours and some will last a
few days. Due to the volatility and the noise at these 20-day high and
low points, each market behaves differently.
6. Re-entry Rule: If you are stopped out on either day one or day two of the
trade, you may re-enter on a buy Stop at your original entry price level (day
one and day two only). By doing this, you should increase your profitability
by a small amount.
I trade this intraday from 5 to 60m chart. As soon as I gain double of my risk I move SL to BE if I am around.
2B REVERSALS
"In an uptrend, if prices penetrate the previous high but fail to carry through and immediately drop below the previous high, the trend is apt to reverse. The converse is true for downtrends."
[Vic Sperandeo in "Trader Vic: Methods of a Wall Street Master"]
The 2B principle gets its power from the large number of stop-loss orders in the area of the X. Many traders who bought the breakout will have their stop-loss orders there, so if prices fall below the blue line those stops will be hit, driving prices back down with thrust. If you enter a short as the breakout traders are bailing out of their positions, the burst of selling can propel your trade into the green so quickly that, before you can enter your stop-loss order, prices have moved far enough in your favor to set your initial stop-loss at break even. The inverse is equally effective for 2B bottoms.
Another name for the 2B is "spring." Imagine the blue line in the graphic as a rubber band. The bigger the poke above the blue line, the stronger the reversal potential if the breakout fails. This same principle works on failed triangle breakouts and failed trendline breakouts. If you were unfortunate and bought the breakout, instead of putting just a stop loss at the X, consider making it a stop-and-reverse. This pattern occurs at the tops and bottoms of consolidations as well as at major reversals.
"In an uptrend, if prices penetrate the previous high but fail to carry through and immediately drop below the previous high, the trend is apt to reverse. The converse is true for downtrends."
[Vic Sperandeo in "Trader Vic: Methods of a Wall Street Master"]
The 2B principle gets its power from the large number of stop-loss orders in the area of the X. Many traders who bought the breakout will have their stop-loss orders there, so if prices fall below the blue line those stops will be hit, driving prices back down with thrust. If you enter a short as the breakout traders are bailing out of their positions, the burst of selling can propel your trade into the green so quickly that, before you can enter your stop-loss order, prices have moved far enough in your favor to set your initial stop-loss at break even. The inverse is equally effective for 2B bottoms.
Another name for the 2B is "spring." Imagine the blue line in the graphic as a rubber band. The bigger the poke above the blue line, the stronger the reversal potential if the breakout fails. This same principle works on failed triangle breakouts and failed trendline breakouts. If you were unfortunate and bought the breakout, instead of putting just a stop loss at the X, consider making it a stop-and-reverse. This pattern occurs at the tops and bottoms of consolidations as well as at major reversals.
Attachments
I also trade this intraday from 5 to 60m
DOUBLE BOTTOM BULL FLAG:
When the market demonstrates a significant move of one or more legs, and especially if there is a single very strong move, then trading goes sideways for a few bars, after which the trend continues. The sideways move may be present for several hours and may demonstrate huge swings. The move usually starts and ends with spikes, while the extreme levels of these spikes can be close in price. The first spike usually is a key level, because it causes the market to pull back. This way a trader is able to understand whether this pullback is strong enough to avoid triggering the stops, placed beyond the first spike. If the pullback is indeed strong, it may be used as a good setup to enter in the direction of the trend.
In an uptrend, two pullbacks create a Double Bottom Bull Flag. In such a case the first bottom lures bulls to enter the market. When the price falls again to that same level, the bulls may again overpower the bears. This way the market did not manage to move to the downside twice, therefore, it will probably go up. In a downtrend, the two pullbacks create a Double Top Bear Flag.
When the market demonstrates a significant move of one or more legs, and especially if there is a single very strong move, then trading goes sideways for a few bars, after which the trend continues. The sideways move may be present for several hours and may demonstrate huge swings. The move usually starts and ends with spikes, while the extreme levels of these spikes can be close in price. The first spike usually is a key level, because it causes the market to pull back. This way a trader is able to understand whether this pullback is strong enough to avoid triggering the stops, placed beyond the first spike. If the pullback is indeed strong, it may be used as a good setup to enter in the direction of the trend.
In an uptrend, two pullbacks create a Double Bottom Bull Flag. In such a case the first bottom lures bulls to enter the market. When the price falls again to that same level, the bulls may again overpower the bears. This way the market did not manage to move to the downside twice, therefore, it will probably go up. In a downtrend, the two pullbacks create a Double Top Bear Flag.
Stopped @ BE .......my timing could be wrong....... market is waiting...... news in 20 minutes.... two trades two BE......winning day for me....finito.
