The Actual Grail

here is another, short this time, again recorded in real-time, trade partially based on short grail.

P.S. this one has been taken before grail completed, hence it was a smaller size position.
 

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Quote from romik:

here is another, short this time, again recorded in real-time, trade partially based on short grail.

P.S. this one has been taken before grail completed, hence it was a smaller size position.
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third lower peak in RSI on same chart now, both RSI/CCI
 
Quote from romik:

Indeed I missed part of the move by waiting for the 8.30-12.30 bar to complete, well it was not completed by a minute or so if my memory serves me correctly. I think it really shot off to the upside after that 240 bar completed.
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Gotcha...thanks.

Best,

LB
 
Quote from Buy1Sell2:

This RSI pattern is the closest thing to a holy grail in trading-whether long or short(just use it when inverse)--(when coupled with prudent money management it's a grail). Yes it is that simple--
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The third leg of the grail which I did not mention here is that you never ever scale out of winning positions. These three items are the grail---

1. The type of pattern that I have described using stops outside reaction highs/lows
2. Prudent Money Management
3. Never EVER scale out. Scaling out is played by scared and overextended money.

This IS the grail--no question. :)
 

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Now I should also mention here, that it is very important for traders to focus less on being right in a trade and more on letting a winner run and cutting a loss short. I offer the grail structure here as a good entry an exit system, however when it is wrong, you need to get out--When it is right, you need to stay in. Way too much emphasis is placed on "being right" which is where these call services intend to make their money. I would rather be wrong most of the time and right some of the time, if I let the some of the time trades run and cut the most of the time trades early. You heard this quote here first " The desire to be right is greater that the desire to make money" :)
 
Quote from Buy1Sell2:

.....I offer the grail structure here as a good entry an exit system, however when it is wrong, you need to get out--When it is right, you need to stay in.....
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having a structure is good, but not all?...
If 2 or more people trade on the same timeframe and enter at the same time with agreement on the entry signal, their success will depend on the ability to determine when the trade is "wrong" or "right"....how to tell right from wrong?
 
Quote from TraderD:

having a structure is good, but not all?...
If 2 or more people trade on the same timeframe and enter at the same time with agreement on the entry signal, their success will depend on the ability to determine when the trade is "wrong" or "right"....how to tell right from wrong?
More...

It is most often when the grail turns and becomes a short grail.
 
Buy1Sell2,

I read this post a long time ago. I watched it for awhile then
started watching SPM. And, I kinda lost track of this post.
Thanks for bringing it back up to our attention!

Just a few questions?

How long have you traded using the "RSI"? And you have a very
good feel for it with all it's nuisances? How has it worked out for you trading this way after all these years?

Thanks

snarlyjack
 
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