direct statistical trading a "clearly" defined approach by NTW31

[nukethewhales31]

Quote from stevegee58:

What's the statistical basis for it?

wave dynamics is the basis this is simply a use to define a statistical stop loss or take profit once direction is understood and and decision to trade has been made... these statistical SL TP have shown they increase the likely hood that the trade will complete and will not be stopped out unless the trade decision fails.

 

[nukethewhales31]

here is the adjustment for taking 1/2 profits and adjusting to BE

yellow is original entrance red new stop and blue same tp...

the only time this should get stopped is if it moves into the failure area.

 

[nukethewhales31]

nothing to see here

 

[nukethewhales31]

check this out

http://www.viddler.com/explore/killbliss/videos/3/

this is maybe a better look at what im trying to say...

understand your probabilities..

 

[nukethewhales31]

oh yeah know that im not advocating this software ... im posting this video for its trading content ... not to sell software... i personally wouldnt buy this as its stuff you can do without it you dont need to pay for it and ive never even used it.

 

[nukethewhales31]

i want to discuss quickly that in the video he talks about pattern recognition and probabilities but he doesnt think this with TRUE probabilities...

The pattern may be 60% success but when we add a stop the accuracy or the rate you get stopped out will lower the success of the pattern...

raw probability is different than true probability including stop.

 

[nukethewhales31]

wouldnt let me post this last night for some reason

average candle range per hour you can see the three trading sessions in it

 

[flyingdutchmen]

Quote from nukethewhales31:


raw probability is different than true probability including stop.

very well said

 

[nukethewhales31]

for you

 

[nukethewhales31]

15 min view