|
PureBytes Links
Trading Reference Links
|
> #2 red line - too steep an angle on the uptrend line
I'm just trying to show there could be multiple judgements
(either on a coded systematic basis, or discretionary basis)
on where to draw those triangle TL's. Moreover, what is "obvious"
after the fact, may not have been clear before. Indeed, it's
easy to see even more options on where those TL's might have been
drawn in real time.
> #3 red line -.... of the three, this is the only one I would have
taken if I were not in car chasing mode.
Often the best setups require a LOT of patience....depending on
how you look at it there were 5-6 false breakouts/breakdowns over
a four month+ period, involving three or more triangles, before
the "real" move started. Something as simple as a triangle breakout
is not always that easy to trade.
--- In realtraders@xxxxxxxxxxxxxxx, "EarlA" <earl.a@xxxx> wrote:
> A couple of comments:
>
> #1 Your first (red) wedge was nicely formed, made a nice profit,
then gapped
> down the next day. A hard one to position trade, good for a scalp
if one
> buys breakouts.
>
> #2 red line - too steep an angle on the uptrend line ... this was
adjusted
> out on the retracement.
>
> #3 red line - ditto on too steep but notice the mine sweeper. also
notice
> that the minesweeper was followed by a modest breakout and a
retracement
> which was very nice entry. In fact, of the three, this is the only
one I
> would have taken if I were not in car chasing mode.
>
> I'm not in any way suggesting that I would have caught this, just
commenting
> on what I do look for when I'm evaluating triangles and wedges.
Obviously,
> the end result was well worth a couple of false starts, however the
SP which
> I trade has been very difficult to catch major moves. Also, it's
generally
> paid to take modest profits and run which tends to encourage one to
forsake
> the larger moves.
>
> Anyway, good discussion, thanks for posting the examples.
>
> Earl
>
>
>
> ----- Original Message -----
> From: "tradewynne" <tradewynne@xxxx>
> To: "realtraders" <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, May 01, 2003 9:16 AM
> Subject: [RT] Re: Triangles- PPS Trading System
>
>
> > --- In realtraders@xxxxxxxxxxxxxxx, "EarlA" <earl.a@xxxx> wrote:
> > > That's true, however a good breakout will almost never break
below the
> lower
> > > trendline ... your bean chart is a good example.
> >
> > Or not ;-).... Here's the way someone *might* have drawn Tri's in
real
> time.
> > I put in some fat red bars that SN3 did break below.
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Make Money Online Auctions! Make $500.00 or We Will Give You Thirty Dollars for Trying!
http://us.click.yahoo.com/KXUxcA/fNtFAA/uetFAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|