The Trouble With Scribbles

Buy1Sell2 said:
What I am most interested in is the trade management ie stops, relationship to capital etc.
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For me, stops are always no more than 5 NQ points. I always have a 5 point hard stop, and less than 5% result in a full five point stop. Those that are scratched are typically done so between +2 and -3 points. My risk as it relates to my available capital is far more conservative than yours.

Buy1Sell2 said:
Anyone can draw a straightline and post in hindsight.
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If what was posted today in your journal and in this attack thread do not suffice as real-time "calls," then you are either delusional or the pinnacle of disingenuousness.

Let's not forget your "call" posted to your journal today 45 minutes after the open:


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Buy1Sell2 said:
For the method to have any value, we must have convincing testimonial.
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So many real traders outside of ET use this approach that your demand for a convincing testimonial borders on the ludicrous. Support/Resistance, simple trendlines, tests & re-tests: C'mon. Do you think DbPhoenix made this stuff up? Really?
 
marketsurfer said:
Like it or hate it, the surf report is original novel research presented here as a public service. Not to mention it has years of market calls recorded unlike the short lived price action parrots.
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There is a nice feature in your journal from when I used to read it, in that you post losing trades as well as winning. Would like to see stops posted and trade management discussed. If so. I would begin to read it again.
 
gears said:
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Squeak! That's a bit tight. Remember that the swing highs that create the range are in the market. The upper limit of the range is in your head, given that they are not all identical with regard to the top tick. Therefore, you don't want your entry to be so tight that it's tripped by an "unintentful" trade but not so far away from the upper limit of the range that you're overexposed to recoils. Also remember that if you're long, you have to exit that before you can short. This complicates things a bit but not much. You just have to decide upon a set of tactics for this scenario, test them out, and follow the most profitable result. In this case, since price broke out the top of the range, any long that had been in place beforehand would be exited. The breakout then failed, making a tighter short upon re-entry more acceptable.

So test a variety of entries, e.g., 2t, 4t, 6t, even 8t if the range is wide enough (enter too deep in a narrow range and you're nearly to the other side). At the same time, test a variety of stops if you are insecure about judging whether or not a trade is still good and need something at your back.
 
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