|
PureBytes Links
Trading Reference Links
|
I also happen to be playing a daily Gartley pattern on that same stock. I'm
still working out my precise stop rules. My research suggests that 96% of
the xA leg is an efficient initial stop, but I need a lot more data.
Haven't drawn any conclusions about placing any trailing or break even
stops. Although I'll continue to study it, I'm inclined to just blindly
wait for either the initial stop or the target to hit. My limited data says
this will result in a positive expectancy. If I can get that without having
to make any decisions, I think I can live with my current set of rules.
Some pretty simple TC2000 screens seems to locate plenty of these types of
setups. Still a work in progress. I haven't proved that it will work with
real trading. I *did* prove that it *won't work if I try to wait on entry
for a point closer to my arbitrary .96 initial stop, trying to obtain a
better risk reward ratio. Brings to mind Joe's comment in the book about
only entering the ones that fail using that tack. I seem to only learn the
hard way. :-)
Interestingly, a 30 minute chart of this one is setting up right now to look
like it's at an entry point for a B&B in the other direction. I think I'll
just watch and follow my rules, but it's something that I'll be looking at
with the pattern.
I've also been looking at dropping down to shorter time frame charts and
looking for bullish Gartleys to help trigger entries into longer time frame
bullish B&B's.
Kevin
To unsubscribe from this group, send an email to:
dlevels-unsubscribe@xxxxxxxxxxx
Attachment:
Description: "TUNE D.gif"
|