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There is a logic fault in the above statment. I challenge members
tofind it.. Hint: yes the statement is true, but it doesn't
reflectwhat actually happens...
Hi Neal,
One logical flaw is that it only represents the
perfect situation of having the B&B turn precisely on a .382. The
further it turns beyond the .382, the smaller the ultimate profit and the
smaller the risk/reward ratio.
Another hint: see the failed B&B on thedaily PAYX chart earlier
this month.. Anyone jump in here, anyideas... Look at the PAYX chart, how
would you have made moneyon the failed B&B??
I'm trying to dig a failure of a flag or pennant
out of the formation, but I can't find one for which I couldn't shoot holes
in. A "failed grail" type trade comes to mind. I know you've
mentioned reversing on an apparent B&B failure (I guess failure would have
to be defined).
It didn't quite make an OP vs. the 10/6 low, but
I guess a bit of profit could have been taken via a COP.
I'm not going to say how I did on PAYX, and I know another DiNapoli
trader who said he did very wellon that trade too... And yet the B&B
failed...The result is that B&B's should be low risk and very
profitable onaverage... This is a very important issue.. Figure it out...
>>>>Been working on this for months. Page 90
shows a stop quite distant from entry relative to the profit target.
Maybe I just need a better defintion of "low risk".
I'll keep figuring...
Kevin
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