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jarbo456 wrote:
I know you pick the narrow range breakout setups. I thank you for that. I do a more general filter, but your breakouts obviously have a nicer range than the automated filter results.
Thank you, thank you, thank you.
Please keep them free, and I hope some people use them - enough to keep you doing it, but not enough for you to make it a paid service.
stlwater wrote:jarbo456 wrote:Cobra wrote:jarbo456 wrote:
totally agree. but i'd rather use an ATR based stop which makes the stop tighter than most of those ranges. also, if you trade the range breakout then you are really going for something like a 1:2 or 1:3 risk reward ratio. if you trade with a breakdown of the low of the range, that ratio drops drastically. i'm not saying you're wrong, just saying that i'd rather get into a stock twice (maybe three times), then use the larger breakdown of the range stop price.
Trade breakdown? Breakdown would be stop loss, not a reverse trade. Do you mean if I set stop loss at base low, it'd reduce the profit?
If you put stop loss just below the base of the range it reduces the risk reward ratio of the setup.
It's the same stop loss problem we have with any trade - do we keep it wide and so we don't get shaken out as much, or do we keep it tight and avoid losing as much.
I can give you some real time feedback on this.. I was triggered into FSL... Needless to say it came within pennies of a theoretical stop loss. I'm well trapped by this little bastadge. In hindsight, I think there probably is a better stop loss placement. A genuine break-out shouldn't come back to retest the break-out area (except in those volatile stocks that love to shake traders out)... in which case maybe you filter out the more volatile symbols (I know you look for solid trending stocks).
jarbo456 wrote:stlwater wrote:jarbo456 wrote:
If you put stop loss just below the base of the range it reduces the risk reward ratio of the setup.
It's the same stop loss problem we have with any trade - do we keep it wide and so we don't get shaken out as much, or do we keep it tight and avoid losing as much.
I can give you some real time feedback on this.. I was triggered into FSL... Needless to say it came within pennies of a theoretical stop loss. I'm well trapped by this little bastadge. In hindsight, I think there probably is a better stop loss placement. A genuine break-out shouldn't come back to retest the break-out area (except in those volatile stocks that love to shake traders out)... in which case maybe you filter out the more volatile symbols (I know you look for solid trending stocks).
I'm not sure you can use FSL as an example. According to my spreadsheet, I wasn't ever triggered into a position.
FSL was recommended on 3/10...and hit near the range high on 3/11 @ 16.14 (range high was 16.15). My trigger price for FSL was 16.17. Never hit, and was never a position, and according to what I was looking at, should never have been a position.
Cobra wrote: Be sure to put your buy stop above the range, you cannot set it within the range, that's not trading breakout, that'd be betting your luck on breakout.
Out of Bounds wrote:Shockingly, i have discovered that people lie about their data on stocktwits. That place is useless.
jarbo456 wrote:FSL was recommended on 3/10...and hit near the range high on 3/11 @ 16.14 (range high was 16.15). My trigger price for FSL was 16.17. Never hit, and was never a position, and according to what I was looking at, should never have been a position.
BullBear52x wrote:Unique wrote:SPY dream for bulls?
it will be hard to imagine while all TSI were under 0 line now on all futures index. until then I will suspect that there will be a will.
Claudio.dicorato wrote:Hi cobra you Think we could go to 1565 with FeD announcment ? But after all we could go to New short term pullback?
uempel wrote:Claudio.dicorato wrote:Hi cobra you Think we could go to 1565 with FeD announcment ? But after all we could go to New short term pullback?
Claudio, now why should Cobra know? In such a situation anything can happen, anything. Not even God knows
uempel wrote:Claudio.dicorato wrote:Hi cobra you Think we could go to 1565 with FeD announcment ? But after all we could go to New short term pullback?
Claudio, now why should Cobra know? In such a situation anything can happen, anything. Not even God knows
uempel wrote:Claudio.dicorato wrote:Hi cobra you Think we could go to 1565 with FeD announcment ? But after all we could go to New short term pullback?
Claudio, now why should Cobra know? In such a situation anything can happen, anything. Not even God knows
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