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PureBytes Links
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These may eventually prove to be valuable in evaluating whether
to take a trade on a breakout -- research to be done.
Clyde
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Clyde Lee Chairman/CEO (Home of SwingMachine)
SYTECH Corporation email: clydelee@xxxxxxxxxxxx
7910 Westglen, Suite 105 Office: (713) 783-9540
Houston, TX 77063 Fax: (713) 783-1092
Details at: www.theswingmachine.com
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----- Original Message -----
From: "tradewynne" <tradewynne@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, May 01, 2003 11:04 AM
Subject: [RT] Re: Triangles- PPS Trading System
> > #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.
>
>
>
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>
>
>
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>
>
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