Develop Your Edge
- Thread starter Chuck Krug
- Start date
I keep forgetting the environment part. Good reminder.
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Let the profits run= good edge.......
What I found interesting was that Tom Canfield briefly spoke about his method, the CANSLIM strategy, and that hundreds or perhaps thousands of traders used that strategy (with varying results) and that reminded me to not try and reinvent the wheel.
Forgive me my ignorance, no idea who this guy is.
But I struggle to see what use to others is stuff like - "here we have opening mouth of bollinger band and price going up, we like to trade that, but when price is hugging 10MA and mouth is not opening it's a chopfest and we don't like to trade that".
It is impossible to replicate or verify that. The common bit of wisdom added at the end "know when to trade" doesn't make the whole thing much more credible.
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Good points; as if we could ''predict chopfest'' I know what predict means; had to use a dicretionary guess for ''chop fest'' LOL. Dictionary definenition of chopfest made no sense @ all.
'' Develop your edge...... Follow Price'' That'$ a better headline than most of the fake news...........................................................................................
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IF they mean they dont like to trade ''ranges=sideways slop chop'' OK try to not enter thoseYou could put some very specific rules around that particular pattern, but then you would probably get very few hits. It would take some careful back testing to prove whether or not there was truly any statistical edge in this rule set.
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That could work;
using a 10dma. I want more than that+ good for him maybe/ buying calls,no thanks on the cals. AS far as him trading with the main trend ok by me............................................................