Clue to L. Williams style ?...

B

Breakout

It appears Mr. Williams made a trade on 12/06 (see link)


www.worldcupadvisor.com/liveupdate/closedpos/showclosedpos.asp?LIVEADVISOR_ID=25


The Buy was at 896.75 and the Sell at 895.75 for a 1 point loss.

Now, the question is...did he go long at the break of the days high (that's my guess), or did he go short first, then cover?

If he went long at the break of the days high, why didn't he put
his stop at the low of the day. It wasn't that much risk and would have turned out to be a very profitable trade...
 
I could be an oops trade but you would need a chart showing the data from the previous day.

There is a descritiption of the oops trade in the first few paragraphs here:

http://www.serenetrader.com/downloads/tim091102.pdf

A lot of firms run that market screen off of first alert, I know when my old firm got screening software that was the first thing we had it screening for was those opps trades because they win at a pretty nice clip.

Again not sure if that is one though, he does love gaps and a high/low of the day are often the trigger points for his trades.
 
Thanks for the .pdf...I know it's not any big deal really, but the markets were slow and I thought it was kinda interesting.
 
no prob....I'm bored too.

Larry likes reversals and gaps for sure. I read him a long time ago right after I had finished a Nisson book on candlesticks....so one day I was reading him talk about stocks closing on the low was bearish, and a week later, L.W. was preaching the exact opposite that it was bullish and that he almost always looked for buy setups after those close on low days. LOL.

Cheers
 
Hey Breakout,

An amazing thing happened to me today - 4 losers in the morning and 11 winners in the afternoon, all after 2 pm.

(that's because, the trend is MY friend :) )

This doesn't happen everyday, for sure.
 
Quote from JayK:

Hey Breakout,

An amazing thing happened to me today - 4 losers in the morning and 11 winners in the afternoon, all after 2 pm.

(that's because, the trend is MY friend :) )

This doesn't happen everyday, for sure.
More...

Wow...that's great dude...73% ! :D



Actually, the 1 out of 15 wasn't as bad as it sounds. I was only
out $140 bucks for the day, because my one profit was over 5
times the size of my average loss. But boy, would I like to trade
73%...:D
 
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