M
malaguti
Which makes you a complete tool...now there's honesty for you ..applaud that :clap:
BeginnerJoe
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Is this a tool thread ?
M
malaguti
today wednesday is a good example of how difficult this method is
24.5 -10 is 14.5
3 point stop is 11.5
with a 10.75 low you get stopped out with a 3 point stop
15.75 is 5 from the low
while 19.5 is 5 from the entry
the most important thing is to take profit on every trade
so if you take profit at 5 from the low, on a 14.5 entry assuming that you used a wide stop....
you only have a 1.25 first profit target... that is no good
another option is to move your stop up and wait for 19.5 for your target
considering the fact that 19.5 is 9.25 points from the low
... your first target then would be only a point away from the next short entry at 20.75
this means that you would practically be all out at the first target due to it being a short entry
as with all systems, you have to find the sweet spot ... the balance between a tighter stop or larger targets
if you use a tighter stop, you will get stopped more, and on many trades, you will have a losing trade rather than a winner
don't use a 3 point stop, but recommend using one if you have never traded this system before
have not automated this system but believe it can be automated.
there you go.... very simple system but very hard to manage and maybe very hard to automate as well
24.5 -10 is 14.5
3 point stop is 11.5
with a 10.75 low you get stopped out with a 3 point stop
15.75 is 5 from the low
while 19.5 is 5 from the entry
the most important thing is to take profit on every trade
so if you take profit at 5 from the low, on a 14.5 entry assuming that you used a wide stop....
you only have a 1.25 first profit target... that is no good
another option is to move your stop up and wait for 19.5 for your target
considering the fact that 19.5 is 9.25 points from the low
... your first target then would be only a point away from the next short entry at 20.75
this means that you would practically be all out at the first target due to it being a short entry
as with all systems, you have to find the sweet spot ... the balance between a tighter stop or larger targets
if you use a tighter stop, you will get stopped more, and on many trades, you will have a losing trade rather than a winner
don't use a 3 point stop, but recommend using one if you have never traded this system before
have not automated this system but believe it can be automated.
there you go.... very simple system but very hard to manage and maybe very hard to automate as well
M
malaguti
and this is a bad thing
So this is a strategy just for ranging or depressed markets? Been out of action for a few years then
