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Yes Raul... normally at this point I am tryng to exit at least with a 1.5:1 RRR... normally my stop is at 5 ym points...(other side of entry pivot) so I try to take at least 8 points profit on this trades, obviously some times I get much more... but they perform pretty nice... glad to interact Raul ¡¡ cheers Walter. |
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Walter
Iam really impressed with your system. I know people that trades off bands (Bollinger's, Percentage bands, MA bands, ect) but I have never tougth about using them as a retracement vehicle. My hats off to you.
I will make the following comment with the utmost respect to you as I am not intending to change anything, just a humble observation and suggestion
I notice that you're using 55t charts. I notice some sort of undesirable noise that tends to put you in a shaky mode, well at least me.
I change the parameters a little using 144 ticks and I added a 89 MA , keltner bands on the same parameters as you stated, and it relaxes the noise. If you have Heikin-Ashi available in your charts, it relaxes the noise even more. I like to smooth my trading enviroment as much as possible. It gives me more clarity for descicion making and let me stay on the trade longer.
Pit traders, especially from big houses, uses 89 MA a lot as a line in the sand. Just notice how the market behaves when it reach that MA.
I feel at ease using tick/volume bars as opossed to time based bars. I wish I have either Heikn-Ashi or true volume bars on my charts.
Just an obsevation
Cheers
Raul