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At 07:47 PM 11/2/2000 -0500, you wrote:
If
that's directed at me, it's because it looks like DRPO's often do mighty
well.
It was directed at Ron, who had decided on focusing on B&B's at
one
point.
I'll look
at B&B type situations as part of another setup, but I don't find
them reliable enough to trade on their own.
I disagree.. Someone recently told me they are working 90% of the time.
The ones that don't
work are low-risk most often.
Based
on what you've described, you need more than what's in the book to make
them work.
What's missing?
As to trend trades, based on trend lines that I
drew on TC2000 charts over a period of time, and the watch list that I
kept of what might have made low risk trend entries - near the lower
trend line of an uptrend and vice versa - I came to know the 'head and
shoulders' from all the 'trend trade' failures that I was finding.
Turns out that I was drawing a lot of necklines. Tom Bulkowski
rates them (head and shoulders tops and bottoms) highly in his new book
and I'm finding them to be right handy, too. Using dlevels for
judging the pullbacks to the necklines for low risk entries is looking
most promising, too.
Speaking of Tom's book, his research showed
that double tops and bottoms had the best results when the tops were
quite close together. Sound familiar?
Yes.. DRPO. Hehehe.
-Neal.
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