How do you determine exit points on new breakouts with no prior resistance or price points?
- Thread starter Bugsy
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I trail a stop-loss manually just below/above the most recently formed swing-low/high.
I think the only "right answer" is the one you test and prove "right", over a statistically significant sample, comparing it with the effect of other reasonable/plausible methods you know on the same trade-entries. It's an enormous amount of work, of course (isn't everything?).
Whenever I've done that, trailing a stop-loss manually just below/above the most recently formed swing-low/high has always outperformed everything else. (I've stopped testing it, now.)
Just my perspective: your mileage may vary, as the saying goes.
I think the only "right answer" is the one you test and prove "right", over a statistically significant sample, comparing it with the effect of other reasonable/plausible methods you know on the same trade-entries. It's an enormous amount of work, of course (isn't everything?).
Whenever I've done that, trailing a stop-loss manually just below/above the most recently formed swing-low/high has always outperformed everything else. (I've stopped testing it, now.)
Just my perspective: your mileage may vary, as the saying goes.
I trail a stop-loss manually just below/above the most recently formed swing-low/high.
I think the only "right answer" is the one you test and prove "right", over a statistically significant sample, comparing it with the effect of other reasonable/plausible methods you know on the same trade-entries. It's an enormous amount of work, of course (isn't everything?).
Whenever I've done that, trailing a stop-loss manually just below/above the most recently formed swing-low/high has always outperformed everything else. (I've stopped testing it, now.)
Just my perspective: your mileage may vary, as the saying goes.
Awesome answer thank you
Is there a rule of thumb any have here when it comes to pre-planning your exit strategy in no mans land? Thanks in advance
If a wide range bar is offered, especially if this happens well after the session begins, I will close at least some of my trade at the close of this bar.
Another idea may be to use a threshold amount from the session open to take profits if reached.
PS This thread, if you haven't seen it, might interest you, too ...
I drop down to a lower time frame. I watch for price to begin trading in a range. There are a million ways to do this but it can be as simple as adding a donchien channel indicator to the chart. If you exit here and are correct you will have had a great trade. If you exit here and are wrong the resulting new break out will provide a new entry opportunity.Is there a rule of thumb any have here when it comes to pre-planning your exit strategy in no mans land? Thanks in advance
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Good one; + moving averages can help.
And its like the the old timer that helps guide $77 billion AUM/+. [WSJ,2018, top 100 article]Trends persist much longer than one would expect.
I trail a stop-loss manually just below/above the most recently formed swing-low/high.
I think the only "right answer" is the one you test and prove "right", over a statistically significant sample, comparing it with the effect of other reasonable/plausible methods you know on the same trade-entries. It's an enormous amount of work, of course (isn't everything?).
Whenever I've done that, trailing a stop-loss manually just below/above the most recently formed swing-low/high has always outperformed everything else. (I've stopped testing it, now.)
Just my perspective: your mileage may vary, as the saying goes.
Hocus pocus. Post ANY trade or direct me to 'em, preferably 3 real time trades in the last 100 years at ET. Hurry pls. Thanks for taking the time.
You just pissed yourself intellectually, Mr. 33 poster and you don't even know it yet. There is a reason why Xela has more likes than posts. Hint: It's not because she is a girl. I will let you brainstorm a while before I give you the answer.
Is there a rule of thumb any have here when it comes to pre-planning your exit strategy in no mans land? Thanks in advance
Yes, Your Excellency, there most certainly is but may I ask why you posted this question on a Dating & Socializing Site?
NO MAN's LAND lies above October 2007 top. I always go on holiday when nobody else is going and I go to places that are way off the radar = No Man's Land, a zone I love
Monthly DJI shown: take the first upwave from 2009 low and extend. Once we enter No Man's Land, the first station where refreshments are served is at in year 2015 top = 261.8% which shook Wall Street like a tsunami but had no effect on yours truly. I was READY like Freddy. The correction in 2015 stopped right around the sister, 161.8%. Yawn! So predictable. And then Donald Trump's bullmarket took off again. All this in No Man's Land.
Bullmarket don't give a rat's about Obama or Trump, if it crosses 261.8% its heading to 423.6%.
So where would it go? Why, of course to 423.6%, the next or final station in the sequence. Shown are 2 instances, the 2nd being from the 2016 low and again just taking the 1st upwave.
YAWN!